The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1879-08-14

QtblluhtlOllI iWucH ~ Wap VhO obiNhbp"'
and rapidity OF the horses, the good
road and coach that made 1t possible. 1t
was, Indeed an embracing of an oppor-
tunity, both with the man who sat up
behind us with Sherman, which has in
deed its merit too. But whether the
use of the opportunity was honest is an
other question. We need but to put 1t to
let all see that the alteration OF Sherman
is very much an exaggeration, set in
scene by the private interests whom he
favors. He is the most dangerous intia'
ZIONIST of all the public men in the
United States, and will never hesitate to
disturb private business and to leopard
ize the relations of trade and industry, If
it suits his purposes jat
A saving of thirteen millions of inter
est gis the bait with which we are to. be
caught. II is q large sum, but that
placed in view by those who proposed in
1872 to pay the National debt in green
backs was still larger, 1t was one hun
dred and thirty millions. Why take two
b teg at cherry? if throwing off inter-
est is the criterion, then it is better to
throw off the whole thereof, and not one.
fourth only. Ia such policies there are
degrees of righteousness or unrighteous.
ness, viz: reputation, forced loans,
moral as we'll as immoral pressure on the
creditor, and also the Tennessee plan OF
an ultimatum to the creditor by the
debtor that he holds the master posi-.
ton.
Sherman has kept up all the outer
forms of financial decenCy. He has ever
cried, "Prenez guard !" before he made
the sharper passes but he was sure to
strike, nevertheless. The people are no
more, as whole, helpless as they were
during the war ; but there is now an in
security in trade and money that leaves
but little option whether to take per
cent. or risk all. He was gracious in al
lowing per cent, for he might have had
their money at 3-yea, at 2 per cent
Indeed, they would have invested it
with him merely for safe keeping, as
they used to do with John Law in the
last century. Indeed, the resemblance
holds good generally, Law always had
his nominal par between different secu.
rites. He, too, made each new scheme
preparatory to another new issue, and
adding bubble to bubble. Does not ev.
erybody see that the 4 per cents are the
facilities for future National Bank issues
which will then have much less security
than these have noWP
The last 20 years of the history Of
America has brought to the surface nu.
merous specimens of transient great
ness. Who can count all the Napoleons
Wellingtons, Talleyrands, Pitts and
Neckers, that had the cognomen, Great
est" attached to their names Diana Of
Ephesus Alexander, Charlemagne hadto
be satisfied with, Great a., uss.s Igs-
Why should not Sherman then also
pass for the greatest 6nancier the world
ever saw ? He beats, in writing fifty
quickly, ever the "unjust servant" OF the
parable in the New Testament. mU
Shall we too worship him? Or shall
we do, as Lanau tells as, of his American
host in the LOG Cabin" who II. ,9 \,
u as with uncrooked back," y
Would not lie even witha q fingers bend"
If the latter isour duty, as think it Is,
then we must say that pressing $500 ,000,-
900 new bonds upon the market while
the standard of value for the dollar stat
ed in the bond is not fixed is dish0nestl !
The real object. on the part Of Sherman
in such transactions is to gather accom-
plices to his personal aims and corporate
interests for his great ambition. But we
may be told that ''in finance there are
no morris" Well, then, let us count by
dollars, and hold Sherman to full ac.
count whether he used his opportunity
to the utmost. And with this inquiry
before us, 1t must occur to all as strange
that the new per cent. bonds bring in
the money market nearly as much as the
old five and Bix per cents. Doesn't eV-
cry one see that some equivalent must
have been given for the reduction of in
terest? And so it is. He has shortened
the interest but heightened the time,
and it means that the hands of the peo-
pie are tied for thirty years, and that it
can no longer decide whether the
French rente, or annuity system of the
English three per cent, consols, or the
original American short time five per
cent. bond system shall be the policy Of
the land. And for whose sake did Sher.
man play his game of political anticipa.
ton Who else except for the banks,
whose recharter is at hand and who
need the open and shut game between
per cents and their bank notes Then
we shall have the back and forward
dancing between bank notes and bonds,
at the pleasure of bankers, in which the
business men of the land pay for the
music. s,rs sTr t1fa ~
Wemust, however, also look up the
expense account, 30 that we may know
what these manipulate 1ns cost. Was it
right to allow banks per cent. commits
sion and three months time to pay them
in when all these bonds could be sold
without commission and for cash?
know Of no public reports where the
profits Of the banks are officially stated,
but ! can estimate them and state the
amount found, to witt $5.0O0,000 at
least. s.op s.s .aufas'u "a Ia NJ
For further eIucidation let US use the
newest Treasury statement 46ms .
In it we find that there were In the
Treasury July /, $430600000 And to
whom does this money belong? @
i IS B,126,S76 n belong TO interest overdue.
IS 906 $50 20 belong to bonds long called In.
| 2070977 13 belong to interest overdue thereon
HlSo66oOo belong to gold and silver certia
1926, 900 90 belong to eFeenbsek deposits.
S,4OS,l0 90 balofg to outstanding fractional
169,77l, ,06O 90 belong to bonds called In for thu
new four per cents, s.... u.
1 1881 957 SO belong TO resumption and genera