The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1876-10-31
A Campaign Lie Nailed.
M, August belmont Denies One
0f. the Evening Post" stories

To the Editor of the World:
SIR: find in the Evening Post Of this
date the following dispa ch, alleged to
have been sent from Washington:
Special Dispatch to the Evening Post,l
WASHINGTON, October 19 Private
letters received here from London say
that the Syndicate will not make any fur.
ther subscription to the Il per cent loan
or authorize another call OF $50 bonds
until it is definitely known whether Hayes
or Tilden is TO be the next President.
II the latter succeeds, the letters say
there will be no more bonds taken until il
is clearly demonstrated that the Demo.
cratic party do not intend to unsettle the
finances by putting out more paper mon.
ey, increase the debt by paying disloyal
claims and wipe out. so far as may lie in
their power, the law relatingt to resump
,ion of Specie PAYMENTS.
Treasury officers here do not believe
the syndicate will subscribe to another
dollar of the Al per centum bonds, II the
Democratic party carry the election ID
|
November.
! =. The safety and wisdom of rinyestmen,
in the funded debt Of the Government o.
the 3 United States do not depend upor
Presidential elections, in the opinion o.
European capitalists and bankers, any
more than the soundness of English con
soils depend on whether the Ministry j:
Tory or Liberal.
The bonds ofthe United States are ir
London next TO those OF Great Britain
herself, because every Intelligent man IL
Europe knows that our country is rich
and that the people viii keep their promi
ses no matter what ephemerial politicians
may say. The bondholder is safe and
secure under Democratic or Republican
Administrations, but | think we who are
the hond.payers can pay them easier and
bear the burden better under the great
financial wisdom Of Mr.. Tilden than the
inexpefience of Mr.. Hayes. 80 -
The attempt for the mere selfish or par
tisan prejudice of an hour to obstruct the
great and necessary process OF refundine
the national debt at lower rate Of inter
est is shamefully unpatriotic as well as
silly. sb 7ss a. 2qhau n 8i5
Some heated partisan has merely tried
to use the momentary crisis in the'En
glish money market, produced blythe war
like aspect Of the Eastern question. for q
lever tn raise tue now desperate fortunes
of the Republican party at the expense ol
the national credit and the risk OF pre-
venting substantial reduction Of the
Government expenditure
No such letters as the Post describes
could have been received either here or in
Washington, else ce tainly the Messrs
r ;thschild, the principal managers OF the
syndicate in London, a. nv hruseis here
would have Informed me of the existence
of such a state OF feeling
The whole story is miserable partisan
canard. 81 sft
The operations of the syndicate arr
progressing successfully in London a
we'll as here. f'es
/ Moreover. while the rumors of va
have depressed English consols nearly
per cent and Russian funds 20 per cent
the pricns of United States per cent, a
we'll as the new 4 per cent bonds hav
only been depressed from ] to I per cen
from their highest point. % 2.
In factthe price of the latter has at M
time been lowerthan the price at which
the syndicate first placed this loan on tn
English market. Yours respectfully, r
- r,e 900. AUGU.r BELMONT.
No. I09 Fifth avenne, October l9.