The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-05-30
which experience has proved to be
the best ever devised by man.

In 1860 the aggregate paper curren-
cy in circulation was 81, 818.3 17 .19l 40,
with a population Of ~35,537,148, an
average of over $50 for each man,
woman and child in the whole coun-
try.
In 1877 the currency was contracted
to less than $l5 per capita, and to-day
it is estimated that We have but $l3
per capitr.
The government has destroyed the
greater part of our circulating me-
dunn. To-day it is placed in the
form of bonds upon which the people
pay large sums in the form of taxes
to satisfy the interest. The people
are opposed to either policy Of con
traction or imitation. They demand
an amount of circulating medium
sufficient for their wants and exigen-
cies which shall be issued direct from
the Treasury of the United States,-
money which shall be receivable for
all debts dues and demands.
They believe the contraction of the
currency has much to do with our
present troubles and that it's contin-
uance will bring further disaster and
ruin. A general prostration of bust
ness extending through a period Of
several years and which appears likely
to Indefinitely continue has reduced
the laboring classes to a condition of
extreme dependence. Individual
cases Of want are multiplying. Dis
tress, ruin and restitution is the cry
throughout our land. Riots, strikes.
bankruptcy and crime add their ter
rOrS to the situation and intensity the
forebodings for the future.
The national debt to-day exceeds
two billion dollars chiefly in bonds,
exempt from taxation and drawing
interest. From June 30, 1861, to
June 30, 1877, taxable property has
paid interest IN those bonds amount
ing to ST, 500, 1854, 902,13. The people
have paid to the government from
June 80, 1862, to June 80, 1877, sew
enty hundred million dollars. This
vast sum has come from the profits of
labor and from taxable property that
has been decreasing in value by rea-
son of the burden. Meantime the
~bondhOlders have enjoyed almost
complete exemption from all these
OUTLAWS and having fastened a yoke on
the neck of labor, and a first mort
gage on all the property of the coun-
try, quietly pocket their gains and
sap the life blood of the nation.
We regard the bonded debt of the
United States as a huge blunder, and
we believe the government could
have preserved its existence by it's
own credit spread in the form of
legal tender paper,-by its own fiat,
as good as gold.
We demand the repeal of the Ma
tional Banking Law, a giant iniquity
which under the shelter of the gov
eminent derives usurious gains, first
on the bonds, deposited as security
and second by ~loaning bank bills to
the people. 1t virtually gives to the
banks the control of the currency.
We are how paying twenty million
dollars Il year as Il subsidy to these
banks to enable them to draw double
interest from the people. while all
other departments of business lie
crushed and paralyzed.
In lieu of this corporate circulation
we desire an equivalent amount of
government money.
If the security of the government
in the form OF Il bond is ample as Il
basis for National Bank notes. then
its credit is good enough to issue its
own currency.
With regard to the relation between
capital and labor we desire that cap
ital should help build up and not de-
stroy the country. We would
promote the best feeling between
active capital and labor. believing
that they should observe one grand
purpose the elevation Of man.
We have looked in vain to the old
parties to redress existing wrongs
and relieve the country OF its bur
dens.
\ growing feeling of dissatisfac-
ton is expressed by men of both
parties who require definite action on
the subjects we are agitating.
The National Greenback Party is
rapidly increasing in every part of
our country. Let Us not be behind
in this State. We shall have but one
opportunity to express our wishes at
the ballot box before the next presi-
Dental election. Therefore We urge
You to commence at once. Organize
yourselves into greenhack clubs in
every town and school district in the
State.
Place yourselves in communication
with the state Committee. they will
aid you in obtaining light on the
cause W. advocate. and in procuring
speakers. Do not delay action. act
at once. either in climbs or individu-
ally. No matter how few you num-
Der, move on You will find
followers. the timId only await the
bold. Avoid all alliance with the old
parties.
Can the people any longer support
either of the two old parties. whose
leading organs tell you. the one. that
you must be reconciled to become
tenants on your farms. and the
other. that as laborers you must be
content always to live in poverty.
while the money magnates manipulate
our laws for their enrichment.
The question resolves itself into one
of two issues. Shall Government
abandon its right to issue the money |
of our country to a monopoly CON-
posed of National Banks and SO con- |
tract the volume that il will be