Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1875-09-02

A Brief Review Of the Financial QueS-
ttOns
For the Herald.
When the nation was struggling to put
down gigantic rebellion, which required
enormous sums of money, far surprising what
it had on hand, it became necessary to adopt
some plan to meet this unusual demand. The
plan adopted was the issue of bonds. 1t was
wise provision to exempt those bonds from
taxation, for the reason that they would be
more likely to be bought up by capitalists Of
our own country, and would bring more in the
market on that account The bends of the
United States are to be paid in gold, for the
reason that the government could not prom
ise to pay in anything else but gold. To psy
in greenbscks would be to pay with promise,
for the greenback itself is only q promise to
pay; and to pay with those would be paying
one promise to pay with another promise to
pay; hence the bonds must be paid in gold.
We have heard great Out-Ory against the
"bloRted bondhOlders." Who are these bond
holders2 Some of them are our fellow eiti-
zens-men of means, who, in the time of great
est need came to the rescue with their fortunes,
laying their wealth upon the altar Of our com.
mon country, prompted, aB We believe, by
patriotism and love of country, rather than by
love Of gain. And thus our country obtained
issue. 1t is not ct all surprising that these
who opposed the war so bitterly should even
yet slander and abuse the men who furnished
the means to carry the war to . sueeensful
close; and we mig ght expect to find them f.
voring such financial policy as would tend
to defraud the bOndholder (withOut benefting
the country out of what he had right to ex-
| pect from the government when he invested
his fortune in those bonds to save the life OF
| of the nation.
The entire bonded debt of the United States
| ia DIVIDED into three classes. One of these
classes of bonds, which the government has
promised to pay in gold, bears interest ct
| four per cent, and they form the basis Of the
| present system of banking: system which
approaches nearer to perfection than any other
! ever known in this or any other country. No
one questions its safety; 1t is good in any part
| of our land, "even its enemies being Judges" i"
It Is within tribe of being on par with gold
and is so good that even our hard meney men
are clamoring for millions more, under the pre-
| tense that there is not enough money to an.
swer the demands of trade; which is q false
pretense. Everything that farmer has to
sell will bring fair price in the market, and
the present stringsney in money matters does
not arise from q scarcity or money, but from .
want Of trade or something to sell. The en-
| tire failure of the wheat and oats cPops Of the
county is being felt throughout the county
Our bills are falling due; we expected OuE
heqt and oats to meet them, but they have
entirely failed, and we are in want Of money
Would it benefit our sitQRtion financially fol
| the government to issue many millions more
What have we to self What trade have w
for th market by which we can obtain this
money. if issued? I repeat 1.-THE present
stringency is not from . scarcity Of money
| but from q scarcity of trade. "None so fsl
from market as those whs have nothing tO
| SELL" J. P. A. d,