The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1868-08-21
A Conversation About Ronds nnd
GneenbaeRS.

a Conversation AbOut Ronds and
GreenbAeks.
The following, from the Norwich
Bulletin, relates bit of true history,
and is interesting in more ways than
one:
"The following conversation took
place in the counting-room of one of
our friends few days since. a promi-
nent Democrat, man OF strict honesty
in his private life, had just put the fol-
lowing question, some discussion hay
ing preceded it:
"'Well, Mr.. A., let US drop all politi-
cal antagonism and argue this question
on its merits. Upon what ground can
you maintain that one hundred gold
dollars shall be paid upon a bond for
which the government received only
fifty, unless the exact letter of the law
demands such payment?'
''Mr. A.-"That question Is easily an
swered, and 1 will give you case in
point. You know old Mrs. c., our
neighbor, whose husband died in 1859,
and for whom am trustee. Her hus-
band left her the house she occupies
and about $40, 600 in money, the income
of which is all she has for the support
now dying of consumption. AS soon
as could collect the sums due her
husband 1 invested the whole in a
mortgage at seven per cent. interest,
due in five years. The notes became
due in 1864, when the price of gold was
100, and was forced to take my pay in
legal-tender notes, and I again had to
look round for an investment. The in
terest on the mortgage having been
paid in currency, the old lady had been
very much Strengthened for the past
year, and 1 concluded that in order to
meet her expenses she must have her
interest in gold, and that even then
she would lose, as had lent her money
before the war at seven per cent, and
could now only get six per cent. on the
FiYe-twenty bonds, but took them.
Yes said the Democrat, but you
took them at less than sixty in gold
value
INF. A.-'on the contrary, Mr.. D..
the Government borrowed old Mrs. c.
ten thousand gold dollars by force,
when 1t forced me to take its demand
notes in settlement of the mortgage on
which 1 had lent the gold, and these
demand notes bearing no interest, and
although due on demand, being moth
ing more nor less than failed paper, I
gave the Government an extension by
subscribing them for Five-twenty
bonds. 1 got ten thousand dollars of
the bonds, and by SO doing L got no
more and no less than the original
capital, and when l ask the Govern
ment to pay me ten thousand dollars
in gold, L ask no more than the pay
ment OF what L had in 1859. If you
now force me to take greenbacks,
which are worth only 20 cents in gold,
for my bonds, shall get 81, 600 and the
Government will have confiscnted
S. 600 of old Mrs. CPS property
"'Well,' said the Democrat, 1 am
not responsible for the LegaI-tender act;
your Republican Congress made the
law and forced Mrs. O. and me 10 take
the notes.
MIR. A. Yes, you and your party
are responsible; you refused to sub
scribe for the bonds, you impeded the
| government, you rendered aid and
comfort to the rebels in every way that
you knew how to, without riskfug your
nscks-your mob-leader, Seymour,
brags that he never subscribed "a dollar
to loan and never owned bOnd-and
| so you made Ii necessary for the gov
eminent to collect forced loan or give
| up to the rebels.'
"Well,' said the Democrat, attempt
ing to dodge, Mrs. C.'s case is only a
| solitary one; most of the bonds were
subscribed for by men who made their
money in the rise in professionally
men and such.'
"Mr. A.-'Indeed, are the active bust
ness men among your acquaintance
large owners of bonds, or were they
subscribers2 You know better. You
know that your savings banks hold a
large amount, you know that your in
surance office has its funds in bonds,
and you know that the mon in active
business, the shoddy men least of all
could not spare their money from their
business. except n few like our neigh
Dor ii. 81 Co., who made 1t a point of
honor 10 subscribe for every Loan
1.-THE democrat-'Why don't you go
to work and take up your greenbacks;
your failed paper, as you call it?
"Mr. A.-'That is what we mean TO
do; we know that greenbacks are the
peoples money, and when we have
elected Grant, we mean to make them
as good as gold, and we intend to do
that by bnrying your rebel repudiators
and mob leaders out of sight and hear
ing
"Here the conversation ended"