The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1864-12-07
Are the Germans Wrong in
Wanting our Bonds?

Not bit of it! No shrewder, thriftier peo-
pie, in matters of money, exist earth. Our
Jersey people and New England people are a
frugal, industrious people, but they cant't
save money like the Germans. All Germany
| is great saving bank, 1t IS true that their
working men not so rich, on an average,
as our working men, because they don't ger
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,
hrifty 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 ana Macmillan
with Indifference but want to discount all the
American notes they can get. The LONDON
TINES 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 crazy? We asked Poor
RICHARD what he thought about it, "Why"
said he, show 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 centsi Now see what
got by it; just count up, have received six
per cent. in gold, which averaged 100 per
cent. in currency; making 2 per cent, income.
Now, to-day, my bond is sals BILE 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 thousands of people who
did this, and to-day they have % per cent.
on their Investments. Why, saw Miss Jones,
our school mann, go to the bank and buy
$500 bond. How she got the money don't
know, but these Yankee schoolmistresses are
irstrate hands at taking care of themselves.
Well, now, count up. If Miss Jones sells her
bonds to-day she gets her $500 back safe, and
she gets Sll0 clear gain. Can you sharp Eel
lows down there in William street to do any
betterg You know l told Mr.. Smith the
banker. my ideas about that, and he bought
5000 six per cent. bonds, and you see he
got 81 100 for a 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 care of itself, and us
too. For my part, mean to buy some of the
7-30's. The rate of interest is high enough,
and in three years they will turn into six per
cent. bonds again." "Yes, Mr.. Smith, it is
right on the money side; but, it is right on
the couptry'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
maxi a 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, 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 a great distance. They
have none of eur enmities prejudices,
Theu can examine the facts 6isinterestedly.
They do, and the result is a verdict that the
American Government is stable-its ability
aud integrity in meeting its financial engage
ments unuuestionable. This verdict, teo, is
founded on series of facts which are unim-
peachable, and well known to every intelligent
American. Take two or three of the most
important: l. The United States double its
population each twenty y-fve years. The pop
ulation of the country, which in 1850 was
twepty-three millions, will IN S75 be forty
six millions. Bat the rebelliou says some
ore, 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 a population
equal to thu of the whole in 1850 In other
words, ffeeen years will supply the total loss
of the eleven original Rebel Statesl What
can impede the progress OF such a country?
2. The wealth of the country increased 127
per cent. in ten years! Now let it increase
but so 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-
portunity haa occurred before for the invest
ment of money, and in all probability will
never occur again. Ii the American does not
know and take advantage OF this, the German
and Frenehman will.-kx.
November q, 1864.