Indiana American., 1868-12-18

ueemeu' 'n'.s sso'ns 20 90 genofa' opa-
os''enos W 10 W w p''p''.y anu us,"o'' ~
" '''"v'oS IT," ~ '"s Pr.'."' Wv ,s'o W ~
,y''.s NV s.s's'"'y ~ 'so a' ''es.'y :"
"'' 'ero'1 'V'."''e"'' v's, NV Ps' 'eur
wons's,' ~ aym " P'I,sI Pro, ~ aoJIu,".
-" % sour and c,a, md h.,e es, ~
m.;. \. -, @ ~ 't".'
rsia a' - "a" ",s' pa. wv, '. aas '.ss r's
,ha i,a.as,.s., ~ .i ,.a..,~
- 80 % - ,ss aso.hi,. 80 s.t 'af's','va
80 ,n,s"s', w Sas i"S :" ~. ,iss sAsp"s 'I's ~
..lI,s ns,sa sas,l -" " ~
rLIah ,hs .a.siaass has ~ '..s'su'''y' ,as,,"
ea,.ad g." a ~ s''e'I'"' te,a. 'a' ~ av'ea. ~
Laaon,s .is.'. ~ ~ ~ se"s's'.y" =
I, oh,alrs 49, Il ,aal Ss ,~anav v', ,.,aa a's ~
e.as hn,'as.s -, ~ go, 10y ,a s"'at sb,.' ~
sa,ions 4, ~ NJ ~ 1sn,eJ T ,hs, 49, ss ss" a,s
es,,nc a, ov,,evsosa, no,aon,aaa f., H.
n.s of Ina no.oo o,,owad whtcb was
manor ourrenev -y,ea,lv Aen,eeiated hslow
,hs value oG ca,s
The fact IL mads snpa,e,, wLeo we con.
sider thai ,he bonS6alds,s receive from
the Treasury upon saoh aollar ,hev own
In ,,o.a,,,nsn, se.,,I,ias ~, "a, .sn, IA
gold which !. aearly or oni,s oousl 10
nine per cent inseuyrenevi that the bond.
arc tbop eonys,fed into r.nI,al Car ,he
National Banks. upon which those ius,i.
tutions issue their circulation bearing six
per cent interest. and that they are erempt
from taxation BY the government aud the
States aud thereby enhanced two per cent.
/ Ia the hands Of the holders. We thus
have an aggregate of seventeen per cent
which may bo received upon each dollar
by the owners Of government securities.
A system Tint produces ,uoh results ia
Justly REGARDED as fayoring few At the ak.
pense of the many and has led 10 the
further inauiry n neither our bondbolders
/ ia view of the large profits which they
have enjoyed, would themselves be ayerse
to a settlement of our Indebtedness upon
plan which would Weld them A fair re.
muneration and at the same time be lust
TO the taxpayers of the nation. 0or
national credit should be sacredlv obseryed
but in making provision for our creditors
we should not forget what is due TO the
masses Of the people. IL may be assumed
that the holders OF our securities have all
ready received upon their bonds larger
amount than their original investment
measured by gold standard.
Upon this Abatement of facts Il wopld
seen, lust and eouilable that 1; per cent. OF
tho interest now paid by the government
should be applied 10 the reduction of the
principal in semi-annual installments.
which, 81 sxtetn years and eight months,
/ A
Six per cent. in gold would, at present
rates, be equal.t6 nine Der cent. in cur
rency, and equivalent TO the payment OF
tho debt one aud half times In a fraction
less than seventeen years. This in con-
nection with all the other advantages de-.
rived from their investment: would afford
TO the public creditors fair and liberal
compensation for the use of their capital.
and with this they should be satisfied.
The lessons of the past admonish the len.
der that il il not we'll TO be over anxious
+ ia exacting from the borrowers rigid com
1 pliance with the letter Of the bond.
If nrovisio, ba m.de cor ,ha n.,moo,
of the indeb,ednoss of tho ,oy.rnmsn, ~
the manner SUGGESTED our nation will
ranidlv recover its wanted n,osre,;,v I,s
inieres,s ro,,;ro ,ha, anna r,oasnross sLo,,I1
/ he ,.len ~ rslosso ,ha Iaroo arn,x1, .,
can;,al invos,e5 io seo,r;,;ss oe ,hs s,ov'
erane,, 7, = no, ,ow ,no,oi, -
dnc,ive I'm, IN ,ov.,;on annnsl, N'p'o d"o
s,oos e,so ono ooo ILL - IL.
w;se bs nssS Sv on, [ on,ar,.;.;a. 49, aaasia
IN sddin@ 10 ,So ws.l,h =, e lie as,;pn psTp,s
j ~. a,.,s. -. -
e,IIv s;rai"d ,h.' ~ ,ha - '"s ""V 'u.sss
nosrs , has ran;Slv d;m'; 80 'as Ia "ss
/ i.l,,a,1; - 10 , NY
soaa;sh;." e eona;,;ns " ~ aep'o.seu aes,ea. aaa
or enr 90. na,;hi. s 49, pIss'
Ia al H. s~.,;is az s ,e.vSes .v S ene'Aeu'
eom;n@ was,a - 80. H wan, - "S oc V moan. A III ~,
,bem Viii ,ha raIoasa 50 aas;,.J ~.
life would ho ;nS,.oa ';, ;o,o 'p nssa,nas "vs
ans,a;es ar oar naon,. ~ .oa w -, aJ AsJ
49, ;,nn.s,oS - os peop'v' s"a ao,';n anu
osr nsnnIs nssJ 49, a saanan, - ,ha;,
oaor,S - raoava. e. ~ a.. :" ~
rebellion and of ipiudicious legislation
and IL sbould be the aim of the GOVERN
ment TO stimulate theml.bv the nrosneot
ofan early release from the burdens which
innede ,b.;r nrosner;,v 10 we can no,
take the burdens from tbeir shoulders we
should At least manifest a willingness 10
helm them 10 bsfr tbenr, In refcrr;nc "a
the condition of tho circulat;ng medium
| shall merely rei,erate substantisllv tba,
relates to that subject The ,s.oportion