Bloomsburg democrat. [volume] (Bloomsburg, Pa.) 1867-1869, 1868-06-10
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The. BOndholdert' Convention
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II Is evident from the proceeding Of the
Chicago Convention that that body was en-.
tirely controlled BY the bondholders and
National bankers, 4 large number Of whom
were in the Convention; everything was
shaped to suit them. They already bail the
candidate, General Grant. who il will be
remembered, received his nomination at q
meeting Of wealthy and powerful bondhold.
ers aud National Bankers in Now York.
These bondholders and bankers, in order to
recompense General Grant for any pecuniary
sacrifice which he would make by giving up
his twenty thousand dollars yearlifs Office
which be now holds for four year Presi.
dency at $25,00O year, have agreed TO
raise him purse Of half q million Of dol.
lars. If Grant therefore should be elected,
he will bc under pecuniary obligations to
the bondholders and National Bankers to
aid them to rob the people. Having thus
secured Grant the next move Of these priv
LEGGED classes was to take possession Of the
Chicago Convention, and FIX up tho plat
form to suit their interest This they have
done. Read the following resolution: 7r
,"'6. The National debt, contracted as it
has been, for the preservation Of the Union
for all time to come, should be extended
over o fair period for redemption; and II H.
the. duty Of Congress 10 reduce the rate Of
interest thoreon' whenever it can honestly
W !1vne. ~" $40 .3d;iS .I.0v.Lt. sai. n. .1a..i
The above is remarkable for what it leaves
out, as we shall proceed to show, as for
wbatit contains In the first place, the
policy Of delay in the payment Of the debt
is inoulcated.a The delay is cloaked under
the spacious words that its payment shall
be extended over fair period for redemp-
ton" and we may be sure that the authors
Of that resolution mean to make the ''fair''
a very long period. ln,o. .sla, ai 'ariua
In the meantime the people are to be
burdcnsd with the annual drain Of $780,
100000 in gold each year, by way Of interest
"a sum which in fifteen years would amount
to the principal, itself. {. The bondholders
and bankers would be largely proated by
this delsyrof payment, in the same ratio
that the people would be injured by it.
There is no promise to- the people that the
debt, whenever it is paid. shall be paid in
the currency in which il was created-mak.
ing no such promise-the inference is. clear
that if the Chicago ideas prevail, these
bonds are to be paid in gold. The differ
encc between gold and greonbacks, in which
bonds are legitimately payable, now amounts
on the bonds to $500, ,0O0, 900. This is the
magnificent gratuity which is to be given to
this privileged class. Not word is said in
the platform against the present system Of
two undergraduates for the people
and gold for the bondholders and bankers;
The Convention could see nothing wrong in
this discrimination, whereby certain favored
classes are to receive thirty cents more on
each dollar Of the debt due them than they
pay to the farmer, mechanics and laborers
whom they owe. Under the policy Of delay
in the payment Of the debt, this outrageous
discrimination against the people will also
be perpetuated. -sI .l~'f,a er, ..6i 4,7 {
The Chicago Convention, having thus
neglected to speak out for the people on
this question, the greater will DO the re-
sponsibility upon the New York Convention
to meet this issue fairly and squarely, and
to denounce, in proper terms, this proposal
to rob the people Of nearly thousand mil
lions to enrich favored class. a Cincinnati
Enquirer. H. sdl q qt1sl M nsl, ,aJ
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