Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1868-08-08
MISCELLANEOUS.
From Harpers' Weekly.
THE BONDIlOLDlNG ARlS-
TOCIsACY.

! The Democratic platform, and orators,
and papers, with the old Democratic policy
of exciting the poor against the rich, and
"the people" against the government, not
only insist upon paying the debt in paper,
but demand what they call one currency for
the laborer and the office holder, the pen.
sioner and the soldier, the producer and
the bondholdcr. This is, of course, intend.
ed as gag" and it is the very poorest kind.
1t is meant to suggest that there is lazy
and luxurious class of the community, a
/ bloated aristocracy of bondholders, whom
the virtuous and toiling "Democracy" are to
bring to grief. 1t is worth while, therefore,
to expose this arstocracy and privileged
class, which is fattening upon the life blood
of the nation, Who are these rascaly fel.
lows who are to be made to suffer
Beside the three or four hundred millions
of the bonds held abroad, mainly in Ger
many, they are the investments of savings
banks, of fire, marine and life insurance
companies, and of trust estates. AS we
have before stated, the savings banks in New
York hold nearly fifty millions of dollars :;
Massachusetts,, twenty. millions in Rhode
Island, thirteen millions, and 50 in other
States. The life insurance companies in
the city of New York invest twenty millions
| of dollars in these funds the marine and
| fire insurance companies about fortysix
millions of dollars. The various guarantee
companies in New York hold hundred
millions of United States stock. Probably,
as careful estimate in the EeeHing Post
showed, at least two thirds of the funds are
| owned by such companies.
| Having thus discovered where the money
is, let us now inquire who are the propre-
tors of it-who are these lazy rogues that
put money in the savings banks, and snap
their fingers at the toiling "masses Z" In
the State of New York the depositors in
savings banks are nearly five hundred thou.
sand in number, and in Massachusetts more
than three hundred thousand. The Post, OF
which we have spoken, had before it list
of the occupations Of the principal deposi-
tors in one of the savings banks of this
State, and we !ind this body of Sybarites to
be composed of persons who are even more
labOrious than delegates to Democratic
| Convention. All the branches of hard
workers are represented in this army. The
! largest in the number are domestic servants
| then technical laborers; then seamstresses
fourth, the clerks; fifth, tailors sixth, wal
| tiers, and seventh, cartmen. This is the lux
urious aristocracy which is to be brought
| low. These are tho useless members of so.
ciety, having invested their all in the pro.
misses of the United States, are now to find
these promises as valuable as brown paper,
il the Democrats can only persuade the peo-
pie to repudiate.
1t is against this psmpered body, against
domestics and seamstresses and clerks and
walters and cartmen-it is against the poor
est and hardest working members of society,
that the Democratic Convention raises its
cry of reputation. When these persons in.
vested in the government bonds, the govern.
ment told them they were to be paid in gold
PAY 'em in paper" shout the Democratic
leaders. When they took the bonds the
government declared them free from taxa
tion. "Tax 'em roundly," cried the Demo
cratic leaders. But" plead the poor Ia
borers, tive lent money to save the govern
ment." "Ho ho !" scream the Democratic
chiefs, didn't We tell the government four
years ago that It couldn't save itself and
ought to surrender If you trusted it you
must pay the penalty"
If the people care SO little about it that
they permit the Democratic chiefs to obtain
control of the, government, they will pay
the penalty, and they deserve TO pay it.