The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1877-09-07
bonds III Il l,pw Iigurc.

IN lss,a lsdl, 1857. and issH the premium OF.
gold averaged l1p. X IN, during thcuc years
ui dcrrrsuiot,. Mhrn the fabulous premiums On
gold olshud tho pufse-strlngs of sisnrers, that
American securities found purchasers IN Em-
rntr. Our bonds. therefore, we're purchased In
Europa duiin. lhoro years at pricss alternating
between w and 5n ntH TN tho dollar. Snul-
tAnen,isiy Our own citxens were subscribing fur
the 5-9O loan III par. paying Tor their butdA Ia
giennback~. subsequently, these hnnds, the In
tcrrst and principal payable In com, rose Ia
value to the coin standard. changing In value
~ the premium IN gold changed; never, how
cvef, until recently falling below II per cont.
Fur twelve or moro years, therefore, tho foreign
buuhhulder has been receiving u i,cr cont. ALI
niially 10 gold On every ii. ZOO bond, Tor which
hc paid somewhere between tJnO aud .5O0 !;
while tho American bondhuldcr~, receiving their
y per cot. interest selni-AnnuMlly Ill gold, Inn
mcdiatcly converted their gold into green
Daeks at q premium of from ~ tu 10 PER cont.
Ih 4 scAsOn nf financial embarrassment uus-
crnnlrnl StockN fell considerably below par.
Our banks, trust companies, savings institu-
tlons, and capitalists Availcd themselves u that
cr!nrsnn y TO invest largely realizing, ye.r
ur tWo aelerward. besides their geld interest,
from 70 ~ ID ITr cent. pruiit. Tho stock ii
one of our city banks rose I full 100 per cent.
IN consequence uf the money made ~ that Ia.
stitution BY lie large and lucky purchases ot
Government D.. ~ far therefore,, both tho
foreign and American oondloldsrs have been
mNnllcently rewarded,
Hut this Ia not all Tho bondholdcrs have
had "gOoA thing In tho way VI 'ukance.
have not been able tn learn what proportion
II unr national debt II heid BY Americans. II
We assume tho amount thus hrid tu bc
I'll ,utU UO. .0Ou. and that the gold interest has
during the last twelve ycAra, averaged lAr
cent, tho hondhoklcrs who promptly convert
their guld lntelest Into RrecnbAcks have Iock-
| cted thu Handsome sum of t5. 4A,0 ono annually,
MAktnk IN tNulsc years, e6l. NM. NO, The Fur
clgn lnMlllultlcr Whu ycinscSlcd hin gold inter-
est IN American securities was corrrspondingy
lc,nhtGd In siuw Ut thesc facts, will II bu said
that ~c are dealing dishoncstly, incqnitAhiy 81
illihcrxlly With tho Government bondhuidrfs BY
maintaining that tASy should b. paid III exact
aceurdAne With thu terms upon which thcy
lnaned the Government their money! Nor shonld
Il IN forgotten that, during these weary
twelve yutr. III financial derAngrlncnt, capital
which ntoila not, ha. beun 1sluccxinp
| thcsu geld prenAiuma nut Ut labor. Yes
while capital "fArua sllmptnou1iy cycry day,
million. " lAbnrUrs hAyu sweat upon lal,d And
rcA ~ Al,lMArc 1 class MhOsc rtAHclcsx cry III
dive give. These uiMronn and rcinofseirss
guld preuiinms. In the memorable language III
4 pfositteLt Jackson. make thc rich richer Ansl
the ponr pontcr Until 1870 the United States
| produced littl. or 10 siiycr. In lvtO, III tho
1 infancy ~ our mines. their product MAS c.li.
uaAted al II. .sdt sterling. Thrncefnrwarl thu
Developments wrro rapid and rich Vi tn,ict,
q. that u in73 the United Ntaiu. WAS ths
largest Siiyer-prpiucing country IN thu world.
a. An