The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1868-02-20
THE BOND QUESTION.
ARGUMENTS FROM A DEMOCRATIC
BONDHOLDER.


The Hon. Alfred P. Edgerson, the demo
cratic candidate for lieutenant governor of
Indiana, is the holder of some government
bonds, which fact has been the subject of
much comment by the radical press of that
state which affects to doubt his sincerity in
accepting the 'greenback" plank in the
platform adopted by the convention which
put him in nomination. Taking for his text
an article from one of those radical papers,
the gist of which is in the extract given be-
low, Mr.. Edgerton addresses the reply which
follows, to the Fort Wayne Democrat-
While Mr.. Edgerton thus ably defends the
democratic policy in regard to the public
debt, he stands before the country rs an
orable contrast with the radical bondocracy,
who would fasten, in perpetuity, their fangs
upon the countrys vitals, and forever place
the labor of the nation at the mercy of a
privileged moneyed aristocracy. All honor
to Alfred P. Edgerton, and the noble demo
cracy of Indiana, of which he is faithful
representative:
We understand that Mr.. Edgerton is o large
bondholder. Now ask him, respectfully,
through the Democrat, or any other public source,
to state il he would be willing to have the inter
est on his bonds stopped. and the principal paid
him in non-interest paying greenbacks, the pay
ment to be made out of the $1,700, 900, 900 new
issue proposed by his party? In other words is
Mr. Edgerton willing to take, say 334 cents in
greenbacks for one dollars present worth of
greenbaeks bearing six per cent. interest in gold
hR "a trrI tnfp to ~
more of his bonds for the good of his country
This would be patriotic; bur does Mr. Edgerton
think it would be very honorable in the yovern-
ment, who borrowed this money, to compel him to
make such q sacrifice ?-Lafayette Journal.
MR.. EDGERToE's REPLY.
It seems that the Lafayette Journal, and
many other republican papers In this state,
insist upon making me a "Iarge bondholder."
Their purpose is to show that United
States bondholder ought not to be candi-
date of the democratic party; or, if he per
sists in being candidate, it must be at the
sacrifice of his personal interests.
Taking the position assigned me, as q
bondholder, and being a candidate of the
democratic party and standing on its plat
form of January s, 1868, | will treat the
questions presented from a democratic bond
holders and candidates standpoint.
1t may be stated that democrat, mot con-
nected with the government for the past
seven years, and not interested in any
.'rings," in congress, or any contracts out of
it, might legitimateiy have some property,
and some money to invest in "paying securi-
ties y and, it may be assumed, that he ap-
piled to his investments the average intel
| ligence of men who had accumulated prop
| erty by years of labor, and not suddenly, by
government contracts. Finding himself in
possession of money he desired to invest at
paying rates of interest, he goes into market
| to seek satisfactory securities. he hnds his
/ government in the market as a borrower. de
may have had his own ideas as to the ne
cessities of the government, and as to wheth
err they were not occasioned by reckless ex
penditures, and frauds and regulations and
as to whether it was necessary or polite to
create funded debt at all-especiallr a
funded debt to be sustained and paid by the
industrial pursuits of the country only.
Being powerless to effect anv change in
the policy of the government, or in the exist
ing state OF things, he Accepts the situa
tlon, and in 1864. invests 100000 in gold
IN government securities, which he obtained
at prices varying from 1,62a to 2,52a fol
his gold, the average being 1888. that is, h'
obtained Slso.000 in government securities
tor his $iO0,00O in gold--the bonds bearing
. SIX per cent. interest, payable in gold semi
annually, and exempt from all taxes. n,
could have sold, if he had managed . it'll.