The Hickman courier. [volume] (Hickman, Ky.) 1859-current, 1878-02-22
KING smYLOCK's TRIBUTE.
One ThouAnna Millions Clear Arising
from NO Investments nj Aha
startling Exhibit.

hING SHY LUCh'S lHiBt lie
One Thouhnna Millions Clear Arising
frOns NO InVessHenta M Ala
startling Exhibit.
In the United States senate recently,
Senator Beck, of Kentucky, spoke at
length on the reconciliation OF silver,
and, in the course or his very able
speech, he quoted from Mr.. Voorhees,, Of
Indiana. history Of all the bonds which
we're sold each year and the prices that
were paid, and that were given, and
which revealed the fact chat the bond
holders had up 10 1869 received over
500, 600 600 of profit before they even
got the principal of their bonds made
payable in gold by the act Of 1862 The
following il the statement quoted by
Senator Beck, and we recommend IL %
our readers as suggestive OF the rapacity
and arrogance Of the bondholding class,
unparalleled probably in the history OF
the world
In 1862 the government sold 6 per
cent. $50 bonds to the amount OF $780,
9S2, 4j0, and received FOR them green
backs at their face, dollar for dollar.
The demand now is that these bonds shall
be paid in gold a. their face and yet,
owing to the depreciation of green
backs at the time Of their purchase,
only S44, 030 90 In gold was paid
or them. This makes clear
speculation of SIC, 9jl, sol in favor OF tie
bondhOld9r IN the first transaction. On
this clear speculation the bondholders
have received interest for eleven years,
amounting 70 2ll.1S7,18S, which, added
u its principal, makes the sum Of S2S,-
o. u.
transaction. for which not one dollar was
ever paid.
Ia 1868 the government sold OF the
same kind OF bonds $lG0, yS7 $50, for
which it received an equal amount in
greenbacks A standard authority placed
the average price OF GOLD during thar
year at : IS in currency. 1t vii. thus
be seen that these bonds cost their pur
chasers but $lul So. Ssh in sold, leaving
a profit Of $50 096 ,G96, without including
the interest. For ten year, however,
the government has paid interest on this
naked profit, this principal, without any
consideration. The Interest thus paid
amounts to 35.45S, or, which, added 70
this fictitious principal, makes S94 49,
7I& nov in the pockets OF the bondholders
on that years operation, for which they
never paid an thing.
In 1864 the government sold these
bonds, amounting on their face 10 1881
292. $50 Again the government received
only deprecated paper for these bond
obligations, and AT that time our cur
reu,y. was enormously deprecated. If
tired By the gold standard The price
0f gold during that year was at an
average Of POI in currency. The sale of
these bonds, therefore, which are now
assumed TO be gold bonds. only realized
TO the government $3.50 697 ,63G in gold,
less than one-half OF their face value.
There was lef: 10 the capitalists who
speculated in them as purchasers the
immense profit OF $l9l J94 6l4 This
was tae amount Of the brokers' shave,
and on IL he has drawn interest from the
people for ten years. amounting al this
time TO S114. 1856, 76S. Add this 10 its
principal, which stands as pure specula-
ton, and we find that the b0ndholders
have made as clear gain, - something
for nothing, the sum Of S306 Sol ,3S2 Oh
the one wears tTAn-action OF 1864.
in 1863 the government sold bonds TO
the amount Of 1919 .746, $50, on which it
suffered 2 discount OF 81 532 O60 at the
hands OF the capitalists. The interest
already paid by the people on this dis
count reaches $38, 627 1907, making this
years operation realize for the bond
holders $40. 159, 367, tor which not one
cent was ever paid.
In 1866 the government sold sl249l4,
400 Of its bOnds, for which it received
deprecated paper currency amounting
10 SSs, 59l 1913 IN gold, according to the
then price Of gold. The difference be-
tween the face of there bonds and the
amount they realized to the government
was S36 ,332, 627. Eight years interest
received on this shave amounts to ST.,
434 ,556 Adding this interest and prin-
cipal together. and we find that the
bondholders have received S53, 757, 1873
out of this year sale of bonds, for which
not one dollar ever left their Golfers or
reached the United States treasury.
In 1867 the government sold Of its
bonds the immense sum of $42l 400 300.
The purchasers paid for them 1903, 2l5,-
SOB, leaving a clear profit to them on the
operation of Sl1S, 254 ,047. Taking the
interest on this profit for seven years,
amounting to $40, Sol ,694, already paid,
aud the spectators have in their peck
cts, If these bonds are to be paid in gold,
the sum of $I67 9l5,741 on this years
brokerage, and for which they never gave
q iarthing in consideration.
In 1868 the government sold its bonds
to the still further amount of 1926, 49,
500. Their purchasers paid S312,326,-
323 for them, clearing by that annual
speculation the sum of sl12,6l7 All
Add six years interest on this bonus,
amounting to $40, $40, 228, to the bonus
itself. and we find that these traifickers
in p natien's perils have received IN this
operation Sl53, 159, 76J of the peoples
money. for which not ne slightest equiv
alent was ever paid into the United
States treasury.
In addition 10 the foregoing o per cent.
bonds, the government at different times
during the years mentioned issued and
sold $195, 139, $50 of bonds bearing per
cent They realized to the government
1922, 957 40, thus leaving TO the pur-
chasers a net profit OF S72, 1S2, 40. In
terest already paid on this profit
amounts to S26, 115.724, which, added to
the yrofit itself, makes the sum Of S98.-
297 ,864 as the amount now in the peck
cts of the bsndholders growing out OF
their operations in the per cent bonds,
and for which there is net the slightest
consideration.
An account of the bondholders' clear
profits arising from no investments at all
may therefore be stated in the following
tabular form
SIS, l38 $50