The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1868-03-21
3iaIitiraI.
Greenbacks and Bonds.

The Chicago Tribune is about the only in
auential journal in the West that makes
determined fight IN the interest of the bond
holders against the people on the question-o
paving the $50 bonds in greenbacks. Tha
journal, however, has the fairness to inser
communications on the other side of the ques
zion. and one Of these, written from South
Bend, Ind, is given below. The Tribune has
made no attempt to answer the points raised
BY its correspondent:
" 1861, after the war commenced, was often
tflI that Il was, and it seemed to be, my duty to
20 into the army. Ny little fortune was con-
Verted into securities bearing legal interest.
This, with NY pay as captain, and the efforts OF
ny good wife barely su'ieed to support my little
family in very frugal manner. The six thou
sand dollars which was all had in the world,
was the rallying point of our domestic hopes.
When the "cruel war; was over, we expected
that this nm would place us in comfortable cir
cpmstances and enable us to purchase home.
1t was leI to a man who bought horses. and sold
them to the government. Starting chiefly with
my money! he made. II little more than two
wears, over 100000, and has it now snuglY i'll
vested in government securities upon which he
pays no tax bu receives interest in gold. Well
do remember paying oyer to this good patriot,
who had such unlimited faith in the government,
$4,000 in raId coin The interest was punctual-
w paid, and whoa the principal fell due, it also
was liGuidat-d I'm arcentacks, when gold was
2SO. that is when $IUG Of the money which l
lent was paid back to ne for $3.50, and, instead
of hayin. Sc, 600 in gold or its equivalent, &c.,
800 in currency, only had paper money worth
S2,142.S5.
Meantime had payed tax of over two per
cent. per annum on the $4,000. From my whole
pay in the army three per cent. was deducted by
tbs Paymaster, as an income tax, before the de-
proeated gIeenbacks would be paid and, to cap
the climax in 1864. just after l had returned
with shattered health and ruined finances, five
per cent special income tax for one year was de-
7narded and had to be paid. ~
What have already stated looks bad enough /;
but II is not ALL While was doing my best to
urhold the old flag the draft came The city of
my residence voted to issue bonds to pay for
hiring substitutes, and the little remnant of my
fortune was again encumbered. County bonds
were also issued for the purpose OF dealing ont
small sums to the suffering families Of soldiers
in the ZELDA worthy object if the trust had
been manfully administered. This was fur
ther lien upon my little pile. The very man
who had borrowed my money was subject to the
draft. He has, however, paid nothing for ex-
emption. His fortune is in bonds, non-tlxable
10y act of Congress!
Now, all this, though hard, is siderable
Lately, however, the man who gave me paper for
my gold has become insuherably clamorous for
tic payment Of his bonds in coin, and abuses as
repuliGtor whoever hints at returning to him
She gresubacks which he paid for his securities.
Ho claims that he came forward and trusted the
government in the time of its sorest need, and
Chat it would be a sad betrayal OF his confidence
to treat him thousand times better that he
treated me. ] can't see it in that light partcu
-arly rs my patriotic friend now holds Sl0,S00
IN governments bonds which have been paid for
cut Of my pocket; and when he asks me to re-
tuIn SO much good for so great an evil, must
respectfully decline, although have been Re-
publican from the start, and expect to die a Re-
publican The money which was good enough
for me when gold was ESQ., must suffice my
iaal, The bon3holler especially as it is now
worth twice as much as when he paid it to me.
OF course, use my as an illustration but
it hos also the merit of being representative
oro. ask ycr honestly am not right?
RNrv.sr-Tl I,vsrED