National opinion. [volume] (Bradford, Vt.) 1865-1874, 1868-04-24
Bonds and BOndhoIders.


towards the laboring classes impQs-
ed by the non-taxable U. S. bonds,
1t is important to know with how
much sincerity and knowledge of
facts these charges are made. 1t
is asserted continually by those who
wish to appear to be actuated by a
desire to benefit the laboring classes,
that the exemption of these bonds
from taxation imposes heavy bur
den upon the poorer classes while
it swells the Golfers of the rich
that it makes the rich richer and the
poor poorer. If we accept the
premises upon which these asser-
tons are based-that only the rich
Mold bonds, and are benefited by
their exemption from taxation then
OF course, we must arrive at tn,
same conclusion. But, unfortunate
" for the success of such arguments
the premises are false. Instead c.
all the bonds being held by the ricl
a majority of them are held by the
laboring classes, and SO all the talk
about beneftting the poorer classes
by having them taxed, or Cancelled
by an issue of more greenbacks is
either hypOcritical cant, or the re-
suit of ignorance of the real facts in
the case. The New York Erening
Post says that Of the five richest
men in that metropolis, only two
hold, individually, any U. S. stocks,
and these to very uncomfortable
amount. 1t further says:
"These bonds besides the three OF
four hundred millions held abroad
by our friends, principally in Germa
ny, constitute the investments o
savings banks, marine fire and lif,
insurance companies, and of truss
estates. In this State the savings
banks alone hold no less than forty
nine millions of dollars; in Massa
chusetts, twenty-five millions; III
Rhode Island, thirteen millions, and
so on of many of the other States
The savings banks and the insur
ance companies doing business in
the State alone hold one hundred
millions of the United States stock
In this, trust estates, which we have
no means OF getting at, are not III
Guided.
~ the State of New York alone
tho depositors in the savings banks
who own this S49,000,0OO of tn,
United States stock are no less thai
4SS,5W in number. In the State O
massachusetts, they are no less thai
$4,000 IN number, making in all
in two States alone, nearly million
OF persons who are yitQlly concerned
~ the pcrmanence and appreciation
OF our national securities. Now, let
us ask, are these all capitalists, arc
they all aristocratic bondholders,
are they even of the easy classes
let us take list of one Of the banks
now before us, and transcribe some
OF the principal occupations to which
the depOsitors belong. OF thes
several classes the largest in it
numbers are, LIST, domestics; I'd
labOrers; Sd, seamstresses 18th
clerks; 9th tailors; eth, walters
18th, cartmen. These are the "aris
tocratic bondholders," whom the po
HiSians, in an ignorant and vulga
notion OF playing upon u suppose,
feeling of jealousy against wealth
would drag to the ground. Ric
men who hold bonds have othe
means, also; but these have notlI
ing to trust to but their little econc
mics invested in the faith of the ma
tom
1t appears from this-and we can
not doubt its truth-that the "ariS
tocratic bondholders" against whor
so many anathemas are hurled ar,
in fact, members of the very classe
for WHOM the malcontents profes
so much sympathy. And is it pc,
sible these men are honest in the
professions, and are ignorar
of the facts7 Or are they seckin
to excite jealousy among the labol
ing classes, and create prejudice
for political ends 7 The latter i
more probable, and we believe !
the true meaning of all the howlip
about the government bonds.