Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-10-10
A Wall Street Paper and its Dupes

e"y oountly VI Curopo. VIII you
help them?
A Wall Street Paper and its Dupes
There is a paper circulated very
largely all over the country for al
most nothing. 1t represents itself
as being in the interest of labor and
against capital. The truth is, how
ever, that it is put up, kept mp and
palmed off upon unsuspecting people
like the honest and simple min ded
John b. Church, by the money gam.
,blers of Wall street. 1t is, in the LAM
guage of Webster, "a continuance for
cheating the iaboring classes" That
hugo paper is full of more ways to
get money out of silly people than
any other over printed. Even its
advertisements are clap trap and de-
ceptive. II pretends, for instan CO,
to offer "first class" sewing ma.
chine for $40 and pretends to it's
dupes that it docs this by cutting off
the profits of middlomenr and buying
of first hands. 1t offers "Grand
square" pianos and organs for $50
to $500, pretending it thus helps
the buyer to dodge the middlemen,
when the truth is that all publishers
are overrun with offers of such ad-
vertising and they do not use them
because they are unwilling to hum
bug the people. The HHRALD has
the same offers. We will give any
person who wants it "Superb Ex-
ira Grand square Piano." right from
the man ufactory and the manuiac-
turer's catalogue price of which is
$1,0O0-we will give it for $3.50 We
can fill any offer we have yet seen in
the Wall street fraud Aduocate and
make money at it. But we did not
intend in thsi article to refer to these
small tricks at imposition. There
is an assertion often made and it ap-
pears to be believed by many, that
the Government debt has not been
reduced. When Republicans cite the
Treasury figures naming monthly
reductions or TO the fact that the
debt was at one time nearly three
billions and is now only two billions,
they say, ooh the difference is only
so much interest paid, so much ex.
penditures paid or SO many green
backs or other currency cancelled. y
A correspondent wrote to the hum
bug AdOocafe the following inquiry
How is it thai Secretary Sherman reports
the public debt decreasing when you say it is
increasing? By giving this thing full show.
ing up you will oblige many greenbackers''
The Wall street Aduocate answers
this as follows:
"The bonded debt has not been reduced n
dollar since 1867. On the contrary it has been
steadily on the increase, to the extent that
bonds have been sold for gold for resumption
purposes, and exchanged for the different kind,
of currency, under the contraction law of 1866
"fhe coin interest bearing debt of the gov
eminent is increasingly m
These answers are baser than il
they were direct lies. When the AID
Uocdte says "bonded debt"it excludes
the debt drawing the heaviest inter.
est Republican Administration ev~
er paid, namely the seven-thirties.
The interest bearing debt OF the Uni
ted States, July lst, 1867, was So.
248, 067, 1897 sc. The interest bearing
debt July 1st, 1878, was ST. 794, 735..
$4,000 This shows that the inter.
est bearing debt Git is all coin inter.
est) has been reduced s453, 331, 1877. /.
&C since 1867. They are Sherman q
official figures and no man of sense
will dispute them. The figures do
not represent amounts Of legal ten
ders and fractional currency cancel.
ed nor fnstallments Of interest paid
on bonds. They represent the actu.
al payment of that many bonds that
drew interest and the reduction of the
principal of the interest bearing debt
that amount. And even this does
not show the actual benefit the re-
duction has been 10 the people.
Much of the debt remaining unpaid
has been changed from high to q
low rate of interest. In 1867 the in
terest charge was $138, S92, 451.39. In
1873 the interest charge is S94, 1884,
472 5O-showing that we pay over
forty-four million dollars less inter.
est this year than in 1867. Our an
nual interest is but little moro than
two thirds of what it was in 1867. 1t
is six millions less than two-thirds
of what it was it 1865.
Now reader isn't it plain in this
instance as in many others we have
shown You that these Wall street
fellows are attempting to deceive
you Ii they are daceiving you is
it for your good or theirs? Is it to
put greenbacks--gold--in your pock.
cts or theirs Which will Won do ?