The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1868-08-26
0Ess cial Abuses-A Change Of R'ar
ties Beneficial for the People.

a correspondent OF the Philadelphia
Ledger Ian independent paperl gives til,
items in reference to the sums the Govern
ment has paid in the way of commission
! for selling bonds and gold. There need b
no wonder, after this exposure, how Jay
Cooke and others, became inillionuires =
The writer vs.
"The amount OF commissions paid have
never been stated in any OF the public Jour
nails. They are as follows:
| Commissions paid TO outside
| brokers for conversion of gold
into greenbacks, rom March
2. 1861. 10 March l3, lS63......... 1921 $50 0C
Commissions paid for conver~
| sions of various securities into
! 7-30 notes df act of July II, '6l &c, IG9 10
D6. % bonds Of act of Feb, '62 1923, $50 81
%. I0-i0 bonds OF act OF Mar GA 490,3G8 Il
| DO. $40 bonds of act OF June GA 45, ,437 SO
DO. $40 bonds of act of Mar '65 1Sl ,2j6 81
Do. 730 bonds of act of June
1864, and March lS05.,..... ...,,, =, .SA5 As
Paid for converting ......... 81 ,0O7, All 4G
"The above mentioned seven million and
odd thousands Of dollars paid by the treas
ury to favorite brokers, for converting vari>
ous classes of securities into each other,
embrace the amount paid previous to the
lst Of May last, as shown by official state
mcnt, and for commissions alone. The
profits realized by the operators by the
mems Of early or exclusive information,
&c, are not altogether matters Of con
lecture.
at will be Numbered that some $50,
COO, 000 in gold was converted into green
backs in May, 1866, at about fifteen per
cent. bcloW what sfas Immediately there's
after the market rate, aud that somebody
must have realized over $4,000, 900 profit
by that transaction alone, in addition to the
commission paid for selling.
at was proven in debate in the House,
j February, by Messps Kelly Randall
and logan, that the brokers' profits on the
conversion OF bonds was at least two and
one>half times greater than the amount paid
by the Treasury Department in the shape
Of commissions. TO that chose in favor
,with,the Treasury Department must have
rc2lizcd about $25, ,000,000 by manipulating
the National debt, between March l., 1861
and April 3Q 1868. .
1T is understood that Mr.. Schenck,
Chairman Of the House Committee Of Ways
and Means, and Mr.. Sherman, Chairman Of
the Senate Finance Committee, are both
opposed to any reform OF these abuses"
Until change is made in the political
character Of Congress, the people will not
be able to learn fully to what extent they
have been robbed by the leaders and favor
ties Of the party in power. The profgacy,
the extravaeunce, the robberies OF which
they are guilty, ca Il only be known By turn
ing thea out and putting in their places
those interested in making the exposure
1t would seem to be the nature Of parties
to grow corrnpt by long continuance > in
power; and it is Ior the good of the people
to have changes in parties. Men in public
place, who profit by abuses, are never in a
hurry to correct them. And particularly is
that the case. If officials think they can be
retained in Office through party excitement,
which i 2'nola|ly blind to party dehn1len,,,
az mechanics ana laborcrs, who are interest
ed in cheap government, should think Of
these things.