The Louisiana Democrat. [volume] (Alexandria, La.) 1845-1918, 1875-10-27
The $50 Bond SWindle.
WHAT posS prATT KNOWS ABOUT TIE
INFAMOUS LAW OF 1859.

1oT which ~ Qesc2sSS ASt
the resolution passed Congress, that
pledged the Government to the pay
nent of the bonds in gold. Had the
greenbacks been at par the bondhold-
ers would not, Of course, have OBJ
jected to receiving them in payment
of the debt The resolution gotten
up by unprincipled and greedy stock
jobbers, deprecated, BY act Of Con-
gress, our currency. The Govern
ment, While pledging itself against
one form ofrepndiation, openly prac-
ticed another. The shameless au-
Gacity of this last is enough to con-
sign any organization to perdition.-
And our Democratic friends in Ohio
have seen fit to taaeup the vile work
where the Republicans were forced
to abandon it, and SO in turn they
deseryeidefeat more than their oppo-
nents; for ignorance is worse than
Elm, it so much more aggravating.-
The Repabliean leaders sought to
put otherapeople's money in their
pockets. The Ohio Democracy has
not even 6iis motive for wrongdoing.
That the passage of the resolution
binding the Government to q pay
ment in gold was a premeditated
Wall-street design to depreciate the
curreny and augment the value of
the bonds we haze the very best eyi
dence. We were Sitting in the Com
mittee Room of the District of Co
lumbia, pennihg' letter to the Gin
cinnati Comnepja, when a gentle
man we'll Known to the world of stock
gamblers came in. we had lament
Ell in his presence few days before
our iIl,llekiin not being able to spec
ulate in stocks, as we saw others do
ing, and realize handsomely from
such speculations, as several of our
brother pen-drivers had done. Our
friead now came to us to say that he
had en- opening through which good
thing might be secured. And when
this opening came to be explained it
appeared in "a resolution, carefully
prepared, that had been placed in
the hands Of the Chairman of the
Committee Of WAYS and Means, to
be offered on the first opportunity,
that pledged the Government to a
payment Of the bonds in gold.
"This' he said, "will send the
bonds up to par, and then if we can
manage to make the Government an
ticipate some of its Indebtedness the
bondholders will realize enormously.
Don't you see, now's your chance
, come in With us. A little carried
for you win make you independent"
"But,"-we said, show are you to
pass it? We all know that il never
was intended to make, such a distinc-
ton in favor of these bonds. They
were bought with greenbacks for a
mere song, and for the Government
thus TO stigrnatize its own currency,
while indorsing these bonds, is sim
ply infamous, and will be so regarded
by the people. We have twenty
years in, which to redeem this bond
ed debt. In that time we can fetch
our currency to par, ending thereby
oil questions as to the mode of pay
ment. TO make the distinction your
purpose Is an infamy."
"There you CO." he cried. I did
not propose to discuss the morality
or the justice Of the move. I only
wanted to show, as friend. how you
could make o fortune without risking
q cent. You can not helpit. Nearly
all the Congressman down stairs, in
House and Senate, have more or less
Of these bonds, or will have them be-
fore the vote is taken, and quite a
number win come out of the trans
action milliouaires. Not pass it
Why, you innocent, it will be passed
under patriotic cry of mo repudia-
tion,' the plighted faith of the Gov.
eminent must be sustained" and
stuff Of that sort.
"Then," we responded, sit is con-
sideredright to repudiate the debt
owing the people in the shape of eur
rency, and shameful not to enable
ring ofspeculators to grow rich on
the distress Of the country for that
is what it means"
We did not enrich ourself by TAX
ing advantage of this knowledge, but
our inform stion enabled us toawatch !
those who did. The men who boast |
so loudly.of having saved our flag in |