The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1867-04-19
WHO ARE THE GOVERNMENT BOND
nWNERGe

1t has lately been asserted on very high
authority, that there has grown up amopg
us a new aristocracy, in the lieu of the slav-
cry oligarchy extingujshed by the rebellion.
This new, privileged aud anti-demOcratc
class has been styled "an aristocracy of mon
ey," whose pretensions arc based on the
ownership of the National loansSE which
were contracted in the prosecution .cf The
war. The fallacy and faisityl Of the sta4e.
ments become apparent when we reflect on.
the fact that the extinct slave oligarchy of
the South numbered three hundred thou
sand persons, representing capital Of four
billions of dollars, sum exceeding the pres
ent aggregate of our national debt. The
different loans which go to make up this to-
tai, should be owned by less than three hum
dred thousand persons, in order to make
good the charge Of a Government loan ar
istocracy having taken the place Of the slave
oligarchy." .-5---i7. rnsss7.
Now is this the case? Let us examine but.
a single item of the national loans, the $50
Treasury notes. Consulting the most auth
entic financial records We find there are
s90,I98 of these notes Of the denomination OF
$50, representing S44, 506,s00. of the de-
nomination Of 800, the public holds l,S76,
4l6 of these notes, representing capital of
SI37, Sal 900. of the $500 notes there are.
extant 456;033, representing $225, 000, 500;
OF the $1,000 notes the people have 370,372
or S370,362 600, Of the large denomination
of $4,000 notes, the people took 1895 notes,
REPRESENTING S49,475OD0. The total amount
sof 7-3Os in dollars is, therefore, $780, ,g00,-
OOO which is represented by not less than
3. .IO2, 664 notes. The majority 70 these are
in one hundreds. The largest amount of
money is represented by the thousand dol
lar notes; the next by the five hundreds;
next comes the one hundreds; and the hum
dreds are closely followed By the humber
ffties. The fifties, one and five hundred
inclusive, represent within eight millions of
dollars as much capital as the one and five
thousands combined, and, leaving out ths
aristocratic Eve thousand, the plebians have
an Overwhelming majority.
1t will req uire no great effort of the memr
ory to recall the circumstances under which
these 7-30 loans were subscribed for. They
we're taken in such sums as the investors
could afford. The greatest number OF sub
scribers put down their names for the mod
est sum Of one hundred dollars; the next in
point OF members took fifty dollars worth
of the loan; then follow those who took four
hundred dollars worth of each. fhe sub.
scribers who took the notes in sums of from
one to five hundred numbered 2,722,7
while those who could afford the one and
five thousand numbered $50, 277. a majority
in favor of ihe limited holders of over two
million. This to say the least of it, is
curious way to form an aristocracy. The
men Of moderate means are the ones wEo
and have been the creditors of the Govern
ment; the book keeper, the clerk, the me-
chanic, the laborer, the widow, have their
earnings invested in the United States bonds.
Men Of large means invested their money in
fostering the business enterprises of the
country The Governpent bonds are in. the
hands Of the industrial classes, and we hope
that they have already taken Che place of the