The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-10-14
CHI A RI ES TON +.
WEDNESDAY MORNING, OCTOBER IA, 1868.
Bonds VS.. Bills.

The New York Times is delighted to find,
or to fancy, that there are hundred thou
sand "hard fsted bondholders" in this
country to one s:bloated bondholder. There
are, it seems, tens of thousands of industri-
GUS people who have their entire worldly
possessions invested in the government Sc
curities, having nothing laid up for rainy
day except $500 bond or a $1,000 bond,
or perhaps something less. Contrary TO
the general opinion, it is now stated that
the number of rich men who have invested
in government securities is exceedingly
small, and this for the patent financial REQ
son that they con get larger returns for
their money by investing it in real estate
or speculation. Hence the "hard fisted"
are especially concerned in upholding the
honor and credit of the government as to
bonds.
All this looks reasonable, and may be
true; the Times is pretty good financial au-
thority. But when, from this fact, it is
argu. J that the "hard fsted" are most in
terested in crushing out the Democrats or
repudiationists, we don't exactly see the
point.
For, in the first place, the "hard fsted"
have bills as well as bonds-bills which the
Republican, legislation and extravagance
have deprecated, say to one-third their
value, and which, unless the government is
administered more economically, will be
lowered indefinitely in value. And the ap-
probation of these bills, which the Demo-
Gratis undertake to effect, is more advan-
tageous to the hard fsted than the mainte-
nance of the par value of his bond. Sup
pose, for example, he has bond Of FIVE
hundred dollars and salary in greenbacks
of six hundred dollars. The latter is only
worth four hundred dollars, SO that the
hard listed is losing, on account Of the de-
probation Of the currency, nearly half the
value of his bond every year. Hard fist
will scarcely be such fool as not to desire
the success of party which aims and e1-
poets to elevate both bills and bonds to
par value. The success of the Democracy
is worth to him jus. two hundred dollars a
year.
And then, in the second place, there is
many a hard fist who has no bonds at all.
He can only scrape together bills, and not
so many of these as he needs. If the bills
were at par, he could get the comforts he
used to have q few years before the war.
Meat and butter might then reappear upon
the table, and he might please Madame with
the present of new dress, or daughter
with the luxury of new bonnet. But he
dares not think of such an extravaganza
while the bills he gets can purchase so
little. And now it is probable that there
are hundred of these hard listed billhold-
ers to one of the hard fsted bondholders
1t is this vast majority of the people, now
suffering in silence, and now utterly ig-
nored by the Republicans, whom the Dem
ocratic party seeks to relieve. And, as we
have already shown, in relieving the bill
holder they will relieve the bondholder as
we'll.
The problem seems easy enough of solu-
tion. There is not pound of sugar, not
yard of cloth, not pipefull of tobacco, not
a rasher of bacon, upon which Radicalism
does not force hard fist to pay double, treble
or quadruple its value. One would think
that he is ready to say: This thing must
come to an end. But poor hard first may
read nothing better than the Times and the
Tribune. He may think the South to be
full of rebels and bushwhackers. He may
firmly believe that the historic scene at APP
pomatto1 Courthouse vas only the brief in
terlude in a war that has steadily gone on
since. He may be convinced that Sc
cession still marshals its armed forces, and
that the United States Government is in
danger of overthrow. In word, he may
credit all the unblushing cant and the mon
strous lies which make up the arguments of
Republicanism. And 80 hard fist may, with
sigh, resolve to submit to Lenten season
! of four years more, for the benefit of his
country.
The Commercial Advertises makes can
did admission, which we commend 10 the
rank and file of the Republican party. Ar
guiDg against the establishment of q new
Republican paper in Rochester, it says:
"There is such thing as having too much
sofa good thing. Too much POLITICALLY in
"telligence is as much to be feared at times
sas too much ignorance" Such is the
asiute policy which the leaders Of that party
act upon. No wonder that poor hard fist is
bewildered, and tries to save his bonds by
putting them in the hands of public rob-
bers, and votes for General GRANT as a near
connection of General WASHINGTON. If