The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-10-24

style the destruction of city by fire
an Inconvenience" to the citizens?
Who, but blood-thirsty murderer
would style the death of his victim an
..incovenience" to the widow and or
phans!
Resumption is chargeable with
more crime, more deaths, more moral
degradation, and more destruction of
property in the United States during
the past ten years, than the combined
work Of all the felons and criminals
of the balance of the civilized world
during the same period, and yet, such
wicked accomplices as the Hawkeye
and John Sherman see nothing but
Inconvenience in it 4@asa
What are the s'benefts'' of resump-
ton that we are charged with run
ming away from, and who are the
benefciaries 4:
Resumption depreciates and shrinks
the value of everything but debts and
dollars.
Forty million people own all the Ia
Dor and property of the country.
Resumption will depress the value
of these to the lowest possible point,
and hold them there until they are en-
tirely absorbed by the enormous
debts for which they are hypotheca-
ted.
| About six thousand bankers and
brokres own all the dollars and debt
obligations of the country.
They alone will be benefited by re-
sumption.
AS resumption squeezes the value
out Of property and the wages out of
labor, it injects it into dollars and
obligations that call for dollars.
| Resumption will make the erich
richer, and the poor poorer"
Its benefits accrue to the few, and
it's ''inconveniences' are entailed
upon the many.
No specie-basis country on the
globe but what has it's rich and royal
few, and it's poor and ignoble many.
Equal distribution OF money is i'm
possible, as there is not enough to go
around, and those who monOpolize the
little, rule the many who are desti-
| tute.
The Hawkeye shudders at the pros
pect of renewing the process of sal
ternate mutations and depressions
which has already cost us such mist
ries'
In England, as in this and all other
countries whose currency is redeema-
| bic in specie. alternate mutations and
depresslons have been as regular as
the seasons. Any excess of a con-
vertible currency over the basis is in
llation to the extent of such excess
and depression. with all the "miser-
les and financial disasters of panics
and crashes are sure to follow when
the basis is exported, or public con-
| fidence is at all shaken in the ability
of one dollar of coin to redeem two or
more OF currency.
England had no panic or financial de-
preston during quarter of centu-
ry of suspension and legal-tender
notes.
The United States ,had no panic or
commercial revulsion after 1865, until
it was forced in 1872 by contraction
of the currency.
Prior to the days of legal-tender
notes, during nearly century Of So
called specie-payments. our financial
sea was ruffled by no less than ten
billions of imitation and rs many
troughs of bankruptcy and depres.
sion.
Speciebasis is nothing more nor
less than commercial malaria.
Every nation that adopts it. or
breathes its presidential poison, is
thrown into intermittent spaSms OF
excitement and depression.
The spasms never occur under the
influence of an abundant supply OF
non-eXportable, inconvertible curren-
cy.
This fact is substantiated by the
experience of England for twenty.
1--WE years, our own country from 1850
to 1913, and that of Venice for five
hundred years.
Can our public debt ever;beIpaid in
coin!
When il was SO agreed to be paid
was its possible payment thought of
The United States never produced
coin enough in any one year To pay
the interest on the public debt for the
same period.
There is no doubt but the pledge to
pay the debt in coin was made in or
der TO prevent its ever being paid.
1t is an investment the holders do
not desire to yield up.
Where could the same amount he
invested SO safely. and that wouli
yield so large an animal per cent.
hs,r,