The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1878-10-03

| Ing Jn6 HCaCb'ueuJb WHICH III VIII give u5
pleasure to show Mr.. Boswell, Just to
amuse him, which will show how the Q
per cent. bonds are replaced by per
cent. bonds and the millions saved in
interest!
AUGUST, 1875, SEPT 1873.
Six per cent..,,.S9Si, ,49965O s72S55SS50
| Five per cent" I'll ,685800 7O3,296,650
-Four and half none, 25O,OjO0OO .
-Four per cent. none. 141 $50 900
per cent, Navy fund 100000 100000
Total""""m.,Sl7l 7lO6S545O Sls32,670,5O0
This shows an increase in the bonded
debt of $12l9S5,050 and an increase Of
yearlyintere8t of $9l629Sl But this does
not show the whole increase it does not
include the "matured debt" that is the
bonds "called" for payment but still
unpaid On Sept. 1st, 1878, there were
$l1 .973 $50, on August lat, 1876 only
$3 297, ,7G0. The difference being So 675,-
800, which makes the increase of the
bonded debt SlS0,660,940. Marvellous
saving Heaven save us from such say.
ings. Now, we ask this horny handed
man why to-day there are S723 553, ,858 of
per cent. bonds2 Why did your party
forget for seven years the and 43 per
cent. bondsP The ease and rapidity
with which these bonds sold, nearly
$400, 100000 in less than two years, shows
that all the 6 and even per cent bonds
could long ago have been converted into
at least A per cent. bonds. Why, at
least, have you not converted these $723,.
900 900 Of 6 per.cents. into 5 per Cents.P
Instead of your senseless prattle you
should blush with shame at your party
permitting the great money power to
rake in these millions ofinterest without
the least necessity therefor. No, your
party allowed them to reap this harvest
Of gold and never thought of Saving for
the people" till they wanted pretext to
accumulate gold and increase the debt,
and we venture 10 say that as soon as you
have sufficient gold for resumption the
per cent. bonds will again be forgotten,
80 that he great money power can go on
in their harvest of gold.
Then this cringing of mammon pre-.
tends to quote from us these words;
The privileges which Mr.. Autman
has enjoyed as stakeholder in National
bank should silence him forever"
Now, this is simply bald lie A lie
born of his rage that common man
should dare to critiCise man of wealth.
This falsfer outrivals Mckinley. 1t is
printed in quotation marks as though
veritably taken from one of our own ar
ticles. Not a word of it did we or any.
one else publish in the DEMOCRAT, and
he is therefore a wilful falsifer. This is
the man to accuse others of falsehood
and we say here that not solitary 1UOrd
quoted by this falsi6er as taken from our
articles was ever written by US or ap.
peared in the Dem CRAT, and we there
fore brand him before the public as an
uDmitigated perverter of the truth.
He makes us say that we want the old
state banks to issue the circulation! A
more impudent lie never fell from the
lips of man. We never even alluded to
the subject directly or indirectly; and we
challenge this falsifer to name d single
Democrat within the limits of the whole
Union who has uttered one word in favor
of State banks rs banks of issue. This
falsitier, like other Republican leaders,
is trying to deceive the people by telling
them that the issue is between National
and State banks when he knows full well
that the issue is whether national banks
or the government shall issue the
currency. Sorry indeed is the cause that
needs such fYlsehood and has for its
apOlogists such calumniatOrs.
This protege of the money power,
speaking of the old State banks, says
"True enough they used to maintain
a circulation of $500 600 to 100000 with
a capital of only 500 600, and that was
honest banking, was il ?"
No. They were robbing concerns. The
money power is always the same. Long
before the Lord drove it from the temple
and ever since it has been robbing the
people. And for that reason we want
the government to issue all the cur.
renCy.
But this man at the very mention Of
the old Stale banks should preserve
modest silence. Yes, they had several
hundred millions Of uo'ps in circulation
and for ,Uery dollar they received the UdlLe of
gold dOiLar, The Rep1OGcan party ex.
empled them from paying coin for the |
notes and allowed them to redeem their
notes 81 80 cents on the dollar and thus |
doubled their wealth; and then nine |
enths Of these old State banks were
changed into National banks and then
the government gave them bonds at so |
cents On the dollar and allowed them to |
issue the currency, when the government
could have avoided the issuing of these
very bonds amounting to over $3O0,000,, |
000 and the interest since paid on them,
by paying out new greenbscks instead of |
selling these bouds for iLs old greenbacke. |
And then after making colossal fortunes |
these converted old Stale banks are now |
exempt from any part of the burden Of
resumption and are not to resume at all |
An increase of $3.50 600 600 of debt, an in
crease of nearly $l,O00000 in interest
$l3O,O00,00O to pay as principal and near
lv ST 900, 900 Of interest to be paid for
countless years that these pets, the con.
verled old State banks, may escape their
just burden of furnishing gold to the peO-
pie. 70 Eear such idiots talk one would |
suppose 1t vas no burden to pay the prin-
cipal Of the debt, and that the interest
was alone burdensome. Hold yonr peace |
on State banks Reviewer Boswell.
VOTE THE FULL DEMOCRATIC |