Eaton weekly Democrat. [volume] (Eaton, Ohio) 1866-1875, 1873-10-09
before 1t is due.


Now is this thing calculated
to make anybody overly glad ?
Let us see: Twelve hundred mil
lions of our bonded indebtedness
is held in Europe. Six months
interest on this sum is t~hirty-six
millions of dollars in gold. This
sum is sent out of the country
before it is due, to pay bond
holders in Europe. Near an e.
quail amount of these bonds are
held in this country, and say
thirty millions of dollars in gold
is paid to the bond holders be-
fore it is due. Can the Editor ex-
plain how these things are cal
culated to give confidence and
relief to our people just at this
time? The money sent out of
the country cannot aid US, and
the holders of gold in this coun-
try will either hoard it up and
keep it, or use it to opprcss and
crush those in cramped circum-
stances, 80 that the price of the
relief to be attained in this way,
ia the ruin and bankruptcy of I'M
fortunate debtors.
The bond-holders seem to be
the pets of President Grant, and
their being paid before their
claims r due, gives the REGIS
TER man confidence. We suppose
he is n of those who believe
tina: it is the duty of the Gov
eminent to "take care Of the
rich, and the rich will take care
of the poor" AT any rate, the
paying of the bond-holders be-
fore their money is due, is q strik-
ing practical application of the
above motto.
We are further told by the
Presidents dispatch that the A
millions of retired currency will
be considered as in the Treasury
if the emergency shall demand
it. It is not said that it is IN the
Treasury, but it may be consid-
cred as in, whether it is there or
not. Is not this a funny bas,s
for giving men confidence in the
finances of the country?
If, however, the President and
Treasurer ofthe United States,
may indulge in the fiction that
money is in the Treasury, which
in fact is not there, then we'll may
the suspended National Banks
follow suit and ask their deposit
tors to consider that their depos-
it's are in the closed vaults Of the
Bank, whether they are there or
not. If the depositors do so
consider and believe, then they
will be green enough to have
confidence. If they will not 80
believe, then there will be that
lack of confidence which the REG
lister fears. But he says that
this dispatch of the President
together with the resumption
of the Banks, is giving confidence
everywhere" Well, Mr.. REGIS
TER, what suspended Bank has
resumede Is it Jay Cook & Co.,
or Henry Clews & Co., both Gov
eminent agents here and in Eu-
rope; or the First National Bank
of Washington, or the Merchants
National Bank of Chicago, or
any other Bank that had broken
suspended The fact is, none of
them have resumed. This was
a REGISTER fiction to predicate
confidence, upon which is to be
followed by the 'Fiveliest Of times
IN a few days." according to its
gladdening theory, notwith-
standing the confidence which the
REGISTER has, all we have to say,
is, that the farmer who is ex-
pecting lively times and good
prices to follow shortly on the
heels of the present crisis will
be doomed to disappointment.
But we must pass to the se-
cond article on panics. The REG
thinks that there is a diff
ference between broken money
and broken ban <s-thas panics
heretofore, resulted from broken
money, but now result from brok-
en- corDorations and hankrnDf