The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1870-03-11
!. Bonds at Par The Tri.
uIssph Of Grants AdminlS-
fraA1lOn

''ROndS sat Par The TIL.
uIssph Of Grants Adminls-
trNiiOn.
Some Of the radical papers are rejsic-
ing over the fact that the administra-
ton Of Grant has raised the United
States bonds to par in gold. Now
let us see who has cause for juhila =
tion--thc privileged few or the tax
paying many. lu 1868 Mr.. a., lent
The government SIN, 900 in green
backs. when they were worth forty
cents on dollar in gold. The
government gave him it's bend for
that amount, with the interest at six
per cent. payable in gold. Reduced
to gold standard, upon every f,rty
dollars lent there was six dollars
paid--that is, fifteen d,lla"s hun
dred. AS there were hut $4,000 in
the loan, it would be $500 year
upon the entire amount. In seven
years. from 1868 to 1870, that in.
terest i. equal t. $500. Thus Mr..
A., has already received in interest
from the government $500 more in
gold than he loaned to it. But this
docs not.trll the whole story HIS
$1,000 has been exempt fon til.
Nv" per cent. state and local taxa
ton That,sSS0a year. or $3.50
in seven years. This added to ii
$500. makes $7GO surplus over that
which went ut IF his hands. He
las not, therefore. bccu very badly
,~-d. H. has 50, his principal back
with nearly twenty per cent in ad-
dition But still he has not been
paid. Ills proposed to pay him the
face Of his boni in yrcrnharks when
they were worth, not fnty cents,
which was the bargain wlcn he loan
FL Il en-. but eighty cents on dollar
II. refuses to take it. and the Gran,
administration. hcark"ning to him.
employs Its whole force tc bring his
bond at par with gold. Thus if it
were t" he paid now. the account
would stand /:
Loaned Government. in gold. ga ,oOc
Received from the Government interest
IN seven years. $3.50. 1900
Exempti from taxes ........ $50
Face Of the bond. .......... 10000 u
a... sl4,7GC
For $4,000 there is to be repaid
$4,000 in seven years. This il
&c. 600 more than the people were
legally or morally hound to pay. The
hve-twcnty bonds do not ask 70,
gold. They can be paid in currcne.
valued at 10 moro than they were
worth originally. viz forty cents or
\ dollar. .... .. .....
We do not deny that there la,
been an explicit in this matter, tu'
it is a very sorry one for the people
How many II them hold these bonds,
which have thus. dndcr a hot. house
process, nearly quadrupled them
s.lvcs in value in the slsort space o.
seven years? They pay for. the in.
crcascs, hut they do not receive i.
1t COOS to the monetary and aris.o'
cratic l.rds If Europe. and to thu
wealthy c"ttun-srinrcrs, national
bsnkrrs and merchants Of New York
and New England. The administra.
tiun deserves the thanks Of these little
classes They can say to it. "Wcl
done. thou good and faithful sefv.
ant But the people have right
to resist their ficrcest indignation
and strongest explosives upon it. l,
was til: duty Of the administration,
instead If trying to raise the s:cur-
tiles Of tho few, to increase tic meme.
tnry fncilirics of tho many for thei
payment. Every step it took in thai
direction lessened the price Of I'll,
farmers products and chcapencd the
rates Of labor. In other words, tn,
many were oppressed to aggrandizc Il
lordiy monetary caste which has
bought up and owns this ADMINISTERS
,ion.-[Cinrinnati Enquirer.