The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1865-01-18
Are the Germans Wrong in
Wanting our Bonds?

Not bit OF it! No shrewder, thriftier peo-
pie. in matters of money, exist on earth. OUI
Jersey people and New England people are 4
frugal. industrious people, but they cant'I
save money like the Germans. All Germany
is a great saving bank. 1t Is true that their
working men are 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
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 Maximuian
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 crazy? We asked Poor
RICHARD what he thought about it, 'sWhy -
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, l have received six
per cent in gold, which averaged 100 per
cent. in currency; making II per cent. income.
Now, to day, my bond is salGble in the New
York market at 10 per cent. premium. Put
these together, and o-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,
our school mann, go to the bank and buy a
$500 bond How she got the mouey | don't
know. but these Yankee schoolmistresses are
frstrats hands at taking care of themselves.
We'll, now, count up. If Miss Jones sells her
bonds to-day she gets her $500 back safe, and
she gets S11O clear gain. Can you sharp fel
lows down there in William street to do any
better9 You know l told Mr.. Smith the
banker. my ideas about that, and he bought
SIS 900 six per cent. bonds, and you see he
got 81 100 for years use of his money.
met him the other day. and he sail, "Poor
Richard, you are right; begin to think, the
Government can take care of itself, and us
too For my part, Imean to buy some OF the
7 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 country.s side too. Help your country,
or it can't help you. Now, l say the Germans
are not only right but they would be right
if thev got half that interest. They cannot
make a quarter of it at home." So thought
Poor Richard, and so think we. When we
think of the German opinion of our situation
and our financial st ength, we must remem-
b.r that they are far better judges of our con-
dition than we are, or our enemies are. They
a1e lockers on, at great distance. They
have none of our enmities or preJudices,
Theu can examine the facts disinterestedly.
They do, and the result is verdict that the
American Government is stable-its ability
and integrity in meeting its financial engage
ments unquestionable. This verdict, too, Is
founded on a 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
each twenty five gears. The pop
ulation of the country, which in 1890 was
twenty-thr millions, will In 1875 be forty
six millions. Bat the rebelliopl says some
one, How much has the rebellion diminished
the strength of the United States? Take this
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 1850 In other
words, fifeeen years will supply the total loss
of the eleven original Rebel States! What
can impede the progress OF such country
g. The wealth of the country increased III
per cent. in ten yearsi 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. Hewill
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. If the American does not
know and take advantage of this, the German
and Frenchman will.-Ex,
November 16, 1854.