Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1870-03-11
BLOATED BON DIIOLDEES.

r. y
BLOATED sONDIIOLDERS.
The Concord IN. H.) Statesman has a
correspondent who is very anxious to as
certain the exact personal application
which the Democratic party desire to make
of the above, their choice epith,t. He pur-
sues his inquiries in this way:
Ed. Statesman Whenever I attend
Democratic meeting, l hear great deal
said about "bloated bondholders." 1t
seems that bloated bondholder is some
thing to be execrated and l am anxious
to join in the cry Of execration, but do
not clearly understand what bloated bond
holder is. know am not one, for am
not bondholder at all. When the war
cawe On, had some money saved up, but
| did not buy bonds with it. felt uncer-
tain whether the Government would sur
vive the struggle and be able to pay its
debt; so thought would not lend it any
money on its bonds. put all l had into
real estate, which knew would be safe.
But my sister, who supports herself teach.
ing school, had few hundred dollars
that she had accumulated. She said that
as she could not 60 into the army she would
help the Government along by lending it
what money she had. So she spent all her
little savings for bonds. Is she a b.oated
bondholder?
l have brother who is mechanic. He
is somewhat lame, and was therefore unfit
for military duty, besides having family
dependent on him. But when the United
States bonds were in the market, he invest
ed all he had in them, thus aiding to the ex
tent of his ability in putting down the rebel
lion. He still has those bonds, and twice a
year he cuts off the coupons and gets few
dollars for them. Is he bloated bond
holder?
have neighbor, a widow, whose hus-
band was killed by the rebels. He entered
the army as private and rose by bravery
and merit to commission. AS often as he
of it in $40 bonds. At last he was killed.
His widow now has those bonds. Is she
bloated bondholder?
| suppose a man with one fifty dollar
bond would not be called bloated bond
holder, while man who lent the govern
ment million dollars, and took its bonds
for it, would be called so very cmphatically.
On these two things my mind is clear
But what | wish to determine is, the exact
point at which the bondholder begins TO
bloat. Is it when he has hundred dollars
in bonds, or a thousand, or ten thousand,
or a hundred thousand? | find that | made
a mistake in not buying bonds six or seven
years ago. They have proved good in
tho hos y,rocnrynl
itself without borrowing any from me and
now want to buy some bonds--w want TO
buy Just as many as ! can and not be boat
ed it spills mans god looks, quite as
much as the loss Of an arm, or sabrc-cut
across the check.
We notice in 4 number Of our exchanges
charges that ring of combination has
been formed at Des Moines for the purpose
Of carrying through al! the appropriation
bills 1t is said there are about fifteen
counties in tie State with bonded indebt-
einess Of from 800, 900 to 81 700 each,
and the Representatives of those counties
propose that the State donate them the
State tax for ten years to come to enable
them to pay off their indebtedness; and in
order to secure this object they propose to
vote for all the appropriation bills, If the
members interested ID these appropriations
will vote to give them their State tax. In
other words they are willing to vote one or
two millions of Indebtedness on the balance
Of the State to secure help to pay their
de'ts which the people outside of those
coun'ies have no interests in. This is GER
tainly cool arrangement even for this eli
mate. and if the charges are true, we hope
there will be general smoking out after
recess. While we are in favor of all need.
ed improvements in our State institutions,
We are decidedly opposed to having them
crowded through by such INSCRIPTIONS
MEANS Wat,rloo Reporter.
AS the proposition to relieve the counties
referred to, of their bonded burdens out OF
the State treasury has been virtually defeat
ed in the Senate, we presume there need be
no further apprehension in regard to it, but
as our CITY is somewhat interested in one of
the appropriation bills before the Leg
stature we do not feel like letting
the above pass without comment
In the first place there, is very little proba
blity that the rumors regarding such q
combination are true. 1t would have little
hope OF success, for even were the conspi-
rators sure to be true to each other and sue
cessfu in drawing disinterested members
into the plot sufficient to secure a ma ority
of the Legislature, the people would raise
such storm about their heads as would
compel them speedily to abandon it. But
if it has an existence in fact, we are sure
that our membess are net in it. The ap.
preparation for the Insane Asylum can very
safely stand on its merits. If its impera-
tive necessity, and the privation and snifer-
ing which many unfortunate in the State are !
compelled to endure for lack Of the comforts
and relief the institution will provide are
not sufficient to commend it to the favora-
BILE consideration of the Legislature, we
have faith enough in that body to believe
that no less worthy consideration will have
any fleet
Railroad Com petition.
Every student of railroad problems now
recognizes the fact that the laws OF CON-
petition do not apply 20 them. In the first
place combination always will, as it always |
has render effective competition impossible. |