The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-06-25
The Payment Of the Bonds in Green
backs-A Real Case an PoiRt.o

We commend the following very read
able article TO thsse who are alarmed
At the population" doctrine, as they
,erm it, that is becoming so popular
,msng people who pay the taxes. 1t is
nom the Louisville Courier:
4 great public question was eluci-
dated in q striking manner the other
day during the progress OF private
conversation. The details of q transac-
,ioa then alluded TO are stated below
with strict accuracy, and the transac-
ton itself illustrates the connection be-
tween the Government and large class
al it's creditors.
4 glass manufacturer from Pittsburgh
was, a few days since, in the counting
room of u Louisville hoase with whieh
be has done large business for twenty
wears past. Ina conversation with his
Old friend, the Louisville merchant, he
remarked that he was not pleased with
tbe nomination of Grant, and would
90, support him unless Pendleton
should be the opposing candidate.
lin that case" said he, al shall vote
for Grant, because contributed to the
support of the Government in the hour
oi its distress, and Mr.. Pendleton would
compel me to accept greenbacks for the
5snds which held. That would be re-
pudiation."
II remember that investment OF
yours" said the Louisville merchant.
You sold $4,000 in gold at 2S2 in 1864,
and boughtg gold bearing United States
bonds for which you paid 81 in green
backs"
Exactly so," said the Pittsburgh gen.
teman.
Then" said his friend, "you ex'
changed 5our $40, 900 in gold for $2s, ,oOl
in greenbacks, and these you exchanged
ior $4,000 in United States bonds. On
these bonds the Government has annu'
ally paid yoa on interest of $500 in
gold, which is Is per cent. per annum
on the sum you invested in Government
,ecnrities. Your interest in four years
his return ed into J our pockets 1900 o
Jour 10000 gold dollars, and you CLAIM
!hat the Government owes you $50, ,OOt
more in gold, If in four years you re-
ceive s37, 200 in return for $4,000, youl
patriotism will be we'll rewarded i'll
deed"
Il am not responsible for the bse
Engagement of the Government" sait
he Pittsburgh gentleman. Il wa
Wandering for myself and not for TIT
Government, aud only ask it to keel
its engagements as keep mine"
But while you were fiRanciering TO
yOurself," said his friend, "you should
have observed the striking fact tina
while the bonds promised gold for tn
interest, they did not specify the none.
in which the principal was to be paid
Moreover the greenbacks with whicl
You bought those bonds bore this lie
seRd:
This note is legal tender for all debt
gable and prirats, except dates on i@pOrt'
sad 'tsiRtGrest Of the public debt"
Every one of those notes which ha
passed through yonr hands before yo
bought the bonds, and since, has been
notice served on you by the Govern
ment that the principal Of your bond
ispayable in greenbaGks. Accordingly
You see the Government paying il
other debts in gresnbacks. So It pal
The soldier for enduring tolls, and bray
ing dangers. Even the pitiful peEsio
OF the disabled private is paid in greer
backs; and the widow is paid in greer
backs for the lost labor OF the husband
who lies noldsring in soldiers gray
What have you done that the Cover
ment shall make sn exception in yol
iavorp
ii hold its bobds," replied the gla
manufacturer, land though the bont
may fail to specify anything ofthe sor
yet there is an implied obligation, whel
ever q governments issues such bond
that the principal shall be paid
gold" gxsoF-