The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1864-12-28
Are the Germans Wrong in
Wanting our Bonds?

Not bit of It'll No shrewder, thriftier peo
pie, in matters of money exist en- earth Ou]
Jersey people and New England people are ,
frugal, Industrious people, but they can't,
save money like the Germans. All Germany
is great saving bank. 1t Is true that thei,
working men are not so rich on an average
as our working men, because they don't gel
more than one quarter of the wages of our
men. But German can save mouey, and he
knows when it is safe. Now these shrewd.
thrifty Germans want our bonds. They want
them by millions. They turn aside from the
great beggars of the world in Europe, and
come to US Republicans. They treat the
notes of Napoleon and Joseph and Macmillan
with Indifference but want to discount all the
American notes they can get The LONDON
TIMES says this is all wrong-that the Repub.
licans in America are all bankrupt and the
Germans must be crazy to slight British and
French beggars, and go begging, themselves,
to America Are they crazy9 We asked Poor
RICHARD what he thought about it, "Whyn
said he, show can they be crazy, when they
are doing just what did little more than a
year ago, when put my little savings into
Government six per cents? Now see what
got by it; just count up, | have received six
per cent. in gold, which averaged 100 per
cent. in currency; making 1 per cent, income.
Now, to-day, my bond is saleble in the New
York market at 10 per cent. premium. Put
these together, and to- day have % per cent.
for one years use of my money! What do
you think of that? You know, as we'll as |
do that there are thousands of people who
did this, and to-day they have % per cent
on their investments. Why, saw Miss Jones,
eur school mann, go to the bank and buy a
$500 bond How she got the money / don't
know, but these Yankee schoolmstresses are
6re hon dr OF tax I'll al,
Well. now, count up. Ii Miss Jones sells her
bonds to-day she gets her $500 back safe and
she gets $1l0 clear gain. Can you sharp Eel
lows down there in William street to do any
betterg You know | told Mr.. Smith the
banker my ideas about that, and he bought
S5, 900 six per cent. bonds, and you see he
get 81 100 for years use of his money. L
met him the other day, and he said, Poor
Richard. you are right; begin to think, the
Government can take careIof itself, and us
too For my part, Imean to buy some OF the
SOS. The rate of interest is high enough,
and in three years they will turn into six per
cent bonds again." eyes. Mr.. Smith, it is
right, on the money side; but it is right on
the ceuntry's side too. Help your country,
or it can't help you. Now. say the Germans
are not only right, but they would be right
if they got half that interest. They cannot
IKE quarter of it at home." So thought
Poor Richard. and so think we. When we
think of the German opini on of our situation
and our financial st 'ength, we must remem-
ber that they are far better judges of our con-
dition than we are, or our enemies are. They
ale lockers on, at great distance. They
have none of eur enmities or preiudices
Theu can examine the facts 6isinterestedly.
They do, and the result is a verdict that the
American Government is stable-its ability
and integrity in meeting its financial engage
ments unquestonable. This verdict, too, is
founded on series of facts which are unim-
peachable, and well known to every intelligent
American. Take two three of the most
important: /. The United States double its
population each twenty-five gears. The pop
ulation of the country, which in 1850 was
twenty three millions, will IN 1875 be forty-
six millions. Bat the rebellionl says some
one, How much has the rebellion diminished
the strength of the United States? Take this
astonishing fact, that if all the Rebel States
had been sunk in the Pacific Ocean, the uni
| ted States would in 1875 have population
equal to that of the whole in 1860 In other
words, ffeeen years will supply the total loss
of the eleven original Rebel Statesl What
can impede the progress of such country2
| 2. The wealth of the country increased 127
! per cent. in ten yearsl Now let it increase
but 80 from 1870, and it will amount to ten
times all the loans of the government. The
German knows what he is about He will
get the largest income from loans in the
/ world, on the safest security. No such op-
Iportunity haa occurred before for the invest
menr of money, and in all probability will
lpever occur again. If the American does not
know and take advantageof this, the German
and Frenchman wili.-kx,
November l6, 1861.