The Conservative. (M'connelsville, Ohio) 1866-1871, 1869-07-23
GA NATIONAL DEBT A MA
TIONAL BLESSING.''---Radicdl Pa
per.

We have uase in point, showing
the workings and profits under tho
Radical National blosHng" CONS
monty called National Debt"
Five years ago this month (July)
a Loyal stay al.homo Republican,
one who votes tho Republican ticket,
strait, all the time, for the reason
that 1t il his interest to do So, found
in hls long silkon purse the sum OF
$500 III gold; and, taking advant.
age of the times, as he had done be-
fore, by selling shOddy goods to tho
Government, exchanged his $500 In
gold for greenbacks, securing for
each gold dollar, three dollars in
greenbapks.
He does not stop here, his intense
loyalty urges him on. flo takes his
$500, of greenbacks that he got
for his $500 of gold, and invests il
in United States bonds, bearing sew
Gu per cent. interest, payable semi
annually in gold. Every six months,
promptly, he receives his interest in
gold, $3.50, making S105 each year
and at this date (July 1862 the in.
terest received by him in gold has
reached tho sum Of S525 being S25
more than the original investment.
lie still continues intensely loyal
and now waits upon the United
States Treasurer, who is in the mar
ket among Wall Street brokers, pur-
chasing United States bonds and
paying gold for them, and receives
from that officer 81 500 IN gold for
the bonds, that in the first place
cost him only $500.
He is still on the loyal track, and
working hard TO keep the Radical
party in power; he takes the gold
he receives for his bonds ani con-
verts it iEte greenbacks at tho rate
Of forty cents premium. By this op
Grafton he makes the additiona
snug little sum of 5000.
Let us now see and sum up what
this Loyalist, this advocate of Ma
tional Debts, and the payment o.
the same in gold, has in his pocket
at the end of five years.
Instead of $500 in gold, his orig
nal Investment, he has
! Received five years interest il
! gold s52'
Received Premium on ST..
> 500 gold bonds 6O'
Received for his bonds,
greenbacks 1,50I
T Received for the s525, gold
interest he sold for groen-
! backs ut 40 cents premium. Fl,
, $3.50
Total amount of money in hi
n pock - at the end of five years, tw
thousand eight hundred and thirty
i five dollars. The net profits Of
n this transaction, deductlng from th
y gross amount the original invest
, ment $500, makes TO othe bond hold
!, . er tho sum Of twenty-three hundre
/, and thirty five dollars.
ID Upon this profitable busines
= transaction the bond holder pay
d not one cent of tax for any purpos
a. whatever, for neither United State
bonds nor greonbacks are subjcC
Of to taxation, nor does he pay any in
% come tax, for the reason that his in
t, come docs not in any one year Q
mount 10 the sum CT $1,000.
10 1t will be readily seen and undel
o. stood the amount of money that
q, a. made upon $500 of the Unite
y. States debt by the turning an
ct shifting operations of professionI
70 stock gamblers. 1t is by some col
I'd siderod a legitimate business and b
=, n them upheld, endorsed, approve
m and by their votes at the eleoIio
IN sustained.
i. Tho question suggests itself
u, every one, Who is itthat pays the'
y enormous profits &c those Unite
se States bond holders? Tho answ'
"a is at hand and the reader can
y once solyo this financial propos
IS. tion, viz, the labor of tho countr
must foot the bill. How Is thai
al demands the bond holdcr. We vi