The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1867-10-22
Tax Payers, Read and Ponder.
The Poor Man Robbed to Pay
the Interest on Radical
Bonds!
Letter from a Radical BondhoIderl


Statesman; and invite the attention Of
all Radical Bondholders and the advocates
of taxation of tho poor to make the rich
richer and the poor poorer. 1t plainly
exhibits the fact that Radical Legislation
is for the benefit Of the wealthy and the
oppression Of the Laboring men of the
whole country:
SARAHsvILLE, NOBLE Co., ONO,
September II, 1867.
Editor Ohio Statesman, CDlambus, Ohio.
SIR:-In reviewing the speeches Of
those patriots and statesm en- of Ohio,
Thurman and Pendleton, on the political
issues of the day, I, although bond
holder, endorse their views in regard to
the finances of the country to the letter;
and I 90 further, and say that every fuan.
cial act Of Congress for the last six years
has been aeesss Win Win an eye single to thsss
benefit Of the capitalists Of the country.
1t was all hatched and matured under
their supervision. ,f'
Now for the proof: Tbs nrst paper is
sued during the wal, WAS called "Demaad
Notes" They were receivable BY the
Government for duties on imports, hence
they we're at par With gold. Thoy we're
circulated ell over the country to the
amount Of about three hundred millions,
The next issue was Of illegal tender" !"
Now you could pay your debts With the
legal tenders, but you could not with the
demand notes, if objected to, hence the
legal tenders were sought after instead
of the demand notes; the result Was that
before the commonalty Of the people
were aware Of the real value Of the
demand notes, they we're all boarded
up by the capitalists, their net profits
on this issue being about one hundred
millions.
l had seven thousand dollars in gold
at the commence nent Of the war; / sold
the same in the first year Of the war at 40
per cent. premium, which brought me
nine thousand eight hundred dollars in
legal tenders, exchanged them even for
demand notes, kept them eighteen months
and then sold them for twenty thousand
dollars, legal tender, and bought 7-3o
notes at SO per 100, converted them into
5. EOS even; here ] have twenty thousand
dollars in 5.20s, and two hundred dollars
in greeubacks to spare. am now, and
have been drawing from the Government
twelve hundred dollars in gold per IN.
mum on seven thousand dollars almost
lS per cent. interest, and the principal
advanced from $1,000 to $40, 600! and
two hundred dollars to pay the preacher
if / thought he was deserving Of it.--
Verify, is not S. p. Chase great fnan-
cier? I, as before stated, / iudorse the
Democratic idea ofpaying of those bonds
at any time after ave years in legal ten
ders-the same currency We bought them
with, though they are worth now but II
to the 100. WhenI bought my 5-2Os Of
the agent / was informed that the inter-
est would be paid in gold, and the prin-
cipal in currency. How long the labor
ing masses Of the country will endure
this time will determine. More amen
Yours respectfully,
WM. j. YOU'VE.
If the $4,000 which Mr.. Young holds
in bonds. we're now paid in gold, and the
gold sold at current rates for Greenbacks
his Investment Of $1,000 st the COM
mencement of the war, in addition to the
large interest be has draw semi-annua,ly y,
would net him TwENTY-sIx THOUSAND
ONE HsaDRED DOLLARS, or over NINE
TEEN THOUSAND DOLLARS, besides
a high interest FOR THE LOAN OF
SEVEN THOUSAND FOR SIX
YEARS. all of which has to come from
the pockets Of tho people in the shape Of
internal revenue taxes. which, it is said,
costs in fees Of Assessors and Collectors,
6fty cents on the dollar to coll.ct.
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