Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-06-22


| Cincinnati Commercial wishes another hom-
lily on this subject please give US due no.
tice. and we will again hoist the engineer
with his own petard. 10 s-..
How My Gold JfngIes''
Correspondence of the Ohio Statesman
Such, Mr.. Editor, were the words re-
Gently heard used by bondholder in this
community, as he shook three twenty dol
lar gold pieces in his hands, speaking to. his
neighbor, an humble, hard working farm
er, who had set down to rest few minutes
under the shade of a tree near to where he
was blowing corn.
How my gold jingles," said he" gold
have just received for the last coupons
cut from a two thousand dollar bond of the
$40 issue. How sweet its chime! No
sound of tax or manual labor in its ring
These yellow boys cost me no sweat of
brow to procure. What fool you are to
work, work, work, as you do, for small pay,
and be taxed high; when, by turning your
property into bonds you can make more
money, 90 at your ease. escape all taxation,
and be considered gentleman"
The farmer heard these words with ap-
parent astonishment, and taking the gold
from the others hands, inquired, 'sHow
can this be dont?"
AS the answer to this question was of
practical moment to me, 1 gave it special
attention, and learned how greatly the
Bondholder has the advantage in social and
domestic life over the plow and plane hold
er. The fact, too, that I knew the man
with the money to be Democrat, and the
farmer Radical, intensified the interest of
this solution to me. l, therefore, listened
with no ordinary degree of attention to the
following denounent:
''The Bondholder CHANGED to have at the
outset of the war $4,000 in coin. He sold
this for $40, 600 in currency, and in a few
agents of the Government, for $4,000
worth of 7-30 bonds. These he kept two
years and got for them as interest 81 ,460 in
greenbacks. He then exchanged the 7-3O
for 5-2O's, which are gold-bearing bonds, at
per cent. The latter he has had for three
years, and in that time has received S1,S00
in gold. This, to him, is now worth $4,000
(or more) in National bank note currency.
So that at the present time his pecuniary
speculations stand thus:
Originsl investment in, Gold. which was at
par when he obtained Observation-Disclosures. it.. a. 900
Premium on the :;............... 5000
Interest for two years 7-3n's.. 400
Interest for three years on $500
Net gain ....................... 50. 900
Add principal. 1000
mount ~ ana ono
That is, his 1000 dollars in coin has
amounted 10 five years to nearly $4,000!
And from the 10000 dollars gained he had
not one cent to deduct for tax of any kind,
either Federal, State, or local. Nor were
there any drafts to be made on it for man
hire, horse hire, or the wear, tear or pur-
chase of tools, machinery, wagons or agri-
cultural implements of any kind. Sum
these and the aggregate could not fall much
below thousand dollars. Besides, he had
not done one hours labor to secure this
great profit. Did not have to sit weary
under the shade trees, in these hot days in
June Gas his friend was then doing) to pro-
cure livelihood for himself and family.
Had no special uneasiness about late or
early frosts, hail storms, mildew, blighG,
weavil or worms. No anxiety, when, he
retired at night, or went from home on a
journey, about bad fences or breachy cattle,
hogs or horses. No fears of the footrot, or
of wild dogs among his sheep; nor was he
ever solicitous about the markets." and
especially as to the price of wool. No, 70
none of these thorns that so thickly be-
set the path and the pillow of the hard
toiling farmer, ever springing up in his
way to mar his daily repose. His sheep
were not of the Spanish black, but of the
Governmental bond species, easily pro-
cured, fed, housed and shorn. Indeed, they
were semi-annual-fleece to be
sclipped' twice year-in July and jan
uary, and warranted to live 20 years, if not
longer, and then when they did die their
pen was to be worth in gold their original
cost. -F
Talk about old Jason's famous Argon-
autian expedition to Colchus for the golden
fleeced ram Continued this financier, try
ing to talk classically), why 1 have ten
thousand of them that only cost me forty
cents per head, and every one of which
yields me two f1eeces of golden wool yearly
without care, tax, or food. Besides, SO
easily are they shorn that one man can
clip forty thousand of them in an hour. 1
tell you the United States are Colchus.-
Bonds are the golden rams. European
capitalists are the Jasons. Grecian
/ myths have become facts! What a great
blessing is our public debt! Nor is this
all we Bondholders are determined to have
our Bonds redeemed in gold, and"
/ At this point the farmer, interrupting
him, inquired if it were specified on the
face of the bonds that they were to be so
redeemed. ..... IS .s-
"No,'' said the other, "there it is not.
But the good, kind-hearted, and truly
loyal and patriotic Jay Cooke 6 Co., and
other negotiating agents of the Govern
ment, assured us (who at the hour of the
country's need so nobIy sacrificed our Pc
cuniary interests in its behalD that they
would be redeemed in gold. And, also,
the other day in Chicago your own party
promised US in their platform, that the