The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1868-06-03
5As Cadis Sentiuel.
The BOndhOlders Convention
and Candidate.

1t is evident from the proceeding of tn
Chicago Convention that that body was en-
tirely controlled by the bondholders an,
National Bankers, large number of whom
were in the Conventions; every thing wa
shayed to suit them. They already hal
the candidate, General Grant, who, it vii
be remembered, received his first nomna
tion at a meeting of wealthy and powerful
bundholders and National Bankers in New
York. These bondbolders and bankers, il
order to recomrense General Grant for the
pecuniary sacrifice which would make by
giving Up his twenty thousand dollars Q
year life Office which he now hol Is for foul
years Presidency, at $4,000 year, have
agreed to raise him purse of half mil
lion OF dollars. IF Grant, therefore, should
be elected, he will be under pecuniary ohli-
cations to the bondholders and National
Bankers to aid them in the turtherance of
their schemes to rob the people Having
thus secured Grant, the next move Of these
privileged classes was to take possession of
the Chicago Convention and fix up tfe
platform to suit their interest. This they
have done. Red the following resolutions:
''5. The National debt, contracted, as it
has been, for the preservation of the Union
for all the time to come, should be extend
ed over fair period for redemption and 1t
is the duty of Congress to reduce the rate
of interest thereon, whenever it can hon
estly be done. -
The above is remarkable for what it
leaves out, as we shall proceed to show, as
for what it contains. In the first place,
the policy of delay in the PAYNE mt of the
debt is inculcated. That. delay is cloaked
under the specious wordsthat it's payment
shall be extended over fair period for
redemption" and we may be sure that the
authors of that resolution mean to make
the fair very long period.
In the meantime the people are to he
burdened with the annual drain of Sl2O,-
900 900 in gold each year, by way of inter
est-a sum which in fifteen years would
amount to the principal itself. TIE bond
holders and bankers would be largely prof.
ted by this delay of payment, in the same
ratio that tn, people would be injured by
it. There is no promise to the people that
the debt whenever it is paid, shall be paid
in the currency in which it was created
making no such promisc-the inference is
clear that if the Chicago ideas prevail,
tfese bonds are to be paid in gold. The
difference between gold and greenhacks, in
which bonds are legitimately payable, now
amounts on the bonds to $500. 600 900.
This is tie magnificent gratuity which is to
be given tc this privileged class. Not
word is said in the platform against the
present system of two acknowledgements
backs for the people and gold for the bond
holders and bankers. Tho Convention
could see nothing wrong in this discrimina-
ion, whereby certain favored classes are to
receive thirty cents moro on each dollar Of
he debts due them than they pay tG the
armers, mechanics and laborers whom they
1--WE. Under the policy Of delay in the pay
nent of the debt, his outrageous discrim-
nation against the people will also be per-
oetuated.
The Chicago Convention, having thus
neglected to sreak out for the people on
his question, the greater will be the re
upon the New York Conren-
ion to meet this issue fairly and squarely,
md to denounce, in proper terms, this pro-
Josal to rob the people of nearly thousand
millions to enrich favored class.