The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1870-04-07

and thirty million dollars III gold,
growing out of the operations of q
single year, not one cent of which did
he ever advance or expend in their
behalf. He paid into the treasury one
hundred and one millions and frac-
ton over, as l have shown. This he
of course receives back again with its
six per cent. interest, but the unbear-
able injustice lies in the additional
$50, 100000; the bonus and the interest
thereon all of which is something for
nothing.
If the laboring masses of this free
land are willing to endure such sys-
tenn of wrong, of plumber, and of
wickedness, then indeed may they
well crouch down, like Issachar of
old, between heavy burdens and at
the bidding of privileged masters.
In 1864 there were issued $381, ,292,-
250 worth ofbonds so far as their face
disclosed their value. The price of
gold during that year was at an aver
age of 201, currency. Here we find that
the sale of these bonds realized to the
government the sum $lS9, ,697, ,636-less
than one half of their nominal amount
The sum charged by the bondholder
for the advancement and loan of some
thing over one hundred and eightyt
nine millions was the fearful bonus of
S19I,594614. -
Figures are the faithful witnesses of
truth, and / submit them here to re-
veal oppression and to produce reform
and justice. On no other subject did
they ever speak with a more potent
voice; in no other age did they ever
bring to. light a blacker phrase of the
avaricious man. Nearly two hundred
millions are here shown to be an ab-
solute gratuity; and the interest
which up to this time has been wrung
from taxpayers and applied upon this
enormous donation to avarice reaches
the sum of S45,982, ,768. The usury
yet to be paid upon it as interest on
money never received by the govern
ment amounts to $83,930,836. The re-
suit of financial operations in 1864,
therefore, stands as follows y
Amount of bonds issued. ........... $3Sf aga go
Amount paid for them ..............-. S9,69T, ,636
Amount of bonus 191 1893 81
Interest already pald on bonus 45 9s2, ,T0s
interest yet to be paid on bonNs..... 1s3 $50 sS2
Amount paid and yet to be paid for ~
which nothing was ever received =.
by the government t......-.--....... 42i ,5OS, ,154
-Four hundred and twenty-one mil
lions. five hundred and eight thousand
one hundred and fifty four dollars!
A speculation as wholly, totally un-
supported by particle of considers
ton as the highWayman's profits mp
on niidnigh adventure. propose
to tear away the obscuring wells which
have heretofore shrouded this ques-
ton. / shall run dividing line, be-
tween the sound and the unsound,
that an honest people may see plainly
their duty to themselves and their
posterity. },.-f.. stf5 7d IJ93Io.
In the year 1866, bonds to the addi-
tional sum of $279, TAG, ,150 were issued
with the average price of gold in the
market at 153 in currency. For them
the traders in government securities
paid $208, ,214, ,090, realizing as a bonus
in the transaction the sum of ST., ,532,-
O60. The people have paid as interest
on this bonus the sum of $12,875,772,
and by the existing financial system
they will be called upon to pay $72,-
962, ,70S more by the time these bonds
mature. The gains of this year to
the bond holder appear thus.
Amount of bonds issued .... $279, ,7z6,160
Amount paid for them ............. sos ,O90
Amount of bonus ......... 1885, 900
Interest already paid on bonus ...... 12S75.76a
Interest yet to be paid on bonus 1868, 100
Amount paid and yet to be paid q, i.-.
which Is without any considera- --is.5-fs..
tlon..-.-.-- 157,3T3,5 540
In.l866, with the. price of gold at
14l in currency, the government sold
S124,914, 400 of Its bonds, for which it
received SSS, ,591, ,773. The bonus, or
difference between the face >of the
bonds and the price which they
brought in the market, in this instance
was $50, ,322,827. The holders of the
bonds have received as interest on the
bonus $685. ,716. They are yet to re-
ceive as interest ON the same, $50, 9,229,-
444. The following calculation will
be found correct for this year: a.
Amount of bonds issued $124 914, 400
Amount paid for them. css sol, ,773
Amount of bonus. s..................... So 322, ,627
Interest already paid on bouns .,.,., 435s.T16
Interest yet to be paid on bonus -. 39, ,25s, ,444
Amount paid and yet to be paid as
bonus and interest on bonus, for Is-
which the bondholder never paid
anything. ACKNOWLEDGEMENTS 7e,9O9,7s5
In 1867 bonds for the vast sum of
$40, ,469, $50 were issued. With gold
quoted at an average of 139, the pur-
chasers of these bonds paid for them
S303, ,215, ,503, making thereby S118,-
254,046, as clear profit in the opera
ton. They have collected as interest
ON this profit of bonds 81, ,095, ,243. The
amount yet to be paid on the same as
future interest, until the bonds ma
ture, will be S134, ,809,617; making IN
all an account for the year 1867, as fol-
lows: H So 8z-ft u
Amount of bonds issued 3421 46S $50
Amount paid for them. sos, ,245 ,6O3
Amount of bonus. ..................... 11sa54,o47
Interest paid on bonus ............ 1905, ,243
Interest yet to be paid on bonus. I34 100 SIT
Amount paid and yet to be paid as 9tlf af
bonus and interest on bonus, (clear
gain to the bcndholder) ...--....... 26O15S, ,9Og
This issue of 1868 reached the sum
of $425, AZ, 800. The estimated price
of gold being l36, those who bought
these bonds paid, $312.826, ,323, realiz-
ing as bonus S112,617, ATT. Their re-
ceipt of one years interest on this
bonus is S6,757, ,04S, while there re-
mains to be collected between this
time and the maturity of these bonds,
the further sum of S,873, ,932 as usu-
al, as interest upon nothing ever re-
ceived by the government. SCI s
ACCOUNT FOR 1868. aid
Amount of bonds issued d............ $425 44S 800
Amount paid for them. ........!..... 312s26, ,329
Amount of bonus 112617, At
Interest paid on bonus .........-..... 6,757.4S
Interest yet to be paid ON bonus -. 12s, ,3s9 ,932
Amount of bonus and interest on bo-
nus paid and to be paid entirely
destitute of consideration ....... 24T, ,75S, 45T
All the bonds which have thus far
considered bear six per cent. interest.
During the years, however, of 1864,
1866, 1866, 1867, and 1868, there were
issued five per cent. bonds amount
ing in all to the sum of $195, ,139, $50,
which at the various estimates already
made of the price of gold cost the
purchasers the sum of $112, ,957, 40
The bonus to the bondholders grow
ing out of the sales of these bonds
amounts to $72,lS2,l ,l40. The interest
thus far received on this fictitious
~ . NrNfN