The National tribune., 1882-02-11

lions, ana all Sucn as I'VE on the interest OF
are eXasperated at the spectacle of money flowing
freely among the common people The scarcity OF
money is their harvest and fall circulation is their
bane and grief They feel therefore, that every
dollar expended for pensions is hostile to their In
terestS The sight of pennileSS soldier receiving
few hundreds of dollars, or thousands perhaps, fills
their sordid souls with fury. On the other hand,
the plain people hail such money coming into their
midst as general blessing. The civilization of the
world, the progress of mankind, the Improvement
of the people from generation to generation, all be-
gin in the Improvement of their homes. The pol
icy of government is a wise one which enables
the labOrer to better his habitatiOn, to put
warm carpet on his floor in the winter to paper his
walls and make them attractive, to buy the best
cooking-stove to be had to provide good beds to
sleep in, and to have such comforts as health and
contentment require. The money of this Govern
ment paid out for pensions has in thousands of in
stances, accomplished all these things for the sell
der and his family, and why should he not have
them? Why should he not educate his children as
well as the rich; have them wear genteel clothes
his daughter have an organ, perhaps, on which to
play some old familiar marching air while the
broken soldier
sits by his fire, and talks the night away
Weeps o'e his wounds, or tales of sorrow done,
shoulders his crutch and shows how fields
Sir, why should the organs of capital, why should
those great Journals whose tenderest words of en-
dearment and support have always been for the
bondhoder, and the national banker cry out now
upon the extravaganza of pension arrears? What
right have they to pirate about legislative plumber
even If the crime of plumber was committed?
From July 1, 1861. to July 1, 1881 period of
twenty years, this Government paid to pensioners
S516,543 1896, being at the rate of S25 S27 100 ner
annun, during that period. Sir by a legislative
construction of the contract between the United
States and the holders of its bonds by the famous
coin act of March, 1869, years after the con-
tract made the bondholders made clear gain.
actual profit, OF more than every dollar of the
above sum paid in twenty years for pensions This
is not disputed fact; the whole world knows it
by heart, and yet l will be denounced for barely
mentioning it, so much more sacred are the rights
of the bOndhOlder, however than the rights
Of a soldier purchased by his blood But still
further: we have paid as interest on bonds from
July l, 1861 to July l, 1881, the enormous sum of
81 ,9S7 56 sol being at the rate of 500 800 per
annum for the last twenty years, and amounting to
only fraction less than two thousand millions of
dollars. | have heretofore more than one occa-
sion demonstrated by figures which are not dis
puted that the whole bonded debt of 3 O49 975 200
cost the purchasers OF the bonds at the time they
were issued only 81 81 ,424 23S in money of gold
value, the kind of money in which they are paid
Here is difference between the face of the bonds
at which they are paid and the amount the Govern
ment IN It's distress received for them of $67S551-
1852; being a clear, naked speculation something
for nothing, such heartless usurtr makes when
he discounts the note of some one in trouble at
half its face and collects the same at it's full
face; and amounting as the arithmetic will
show, to S162 DOS, 066, more than all the pension
list put together since July 1, 1861 In other
words, the bondholders have received bonus
mere gift, for which they never expended cent
100000 over and above all that has been paid
in pensions for every life laid down in the war of
the rebellion for every drop of blood that fell from
wound for all the dread ravages of disease, and
for every pang endured. Dispute this statement
who may can; stand ready to defend it at all
times and under all circumstances But there is
another feature in this calculation which the bond
holders would do well to consider prudently before
they provoke conflict between the merits of their
claims and those of pensioners claiming arrears
There is no people beneath the sun who love to
pay the amount Of debt to their creditors more
than once. l have no recollection in my reading of
history that any class of taxpayers the face eff
the earth have been anxious to keep on paving
debt, over and over again, after it had been once
fully paid. Indeed recent occurrences in this
country show how unsafe it is to submit the paw.
ment of an unpaid debt to the hazard of ballot
where any question at all can be raised as to its
justice or legality. But how stands the account
to-day between the bondhOlders and the people OF
the United States upon an account stated and
upon an equitable settlement? | have already
shown that the actual payments made for all the
bonds issued amounted to 81 81 ,424 23S and that
interest these bonds the people of the United
States have already paid, during the last twenty
years. 81 9S7 56 sol. 1t will thus be seen that all
the money received from the bondholders has been
paid back to Them and that in addition there have
been paid S616, 1868; showing that the actual
debt has been paid and nearly half paid the
second time, while the business of paying still goes
on. 1t will be seen also that the amount thus re-
ceived interest from the public Treasury by the
bOndhOlders, over and above what they paid in is
about hundred millions of dollars greater in
amount than all the pensions of every kind and
description paid by the Government from the fir
ing Fort Sumter to the present hour Sir if
you would poll the bondhOlders of the United
States and take the vote of all the national banks
doubt not that their voices would be unanimous for
the repeal of the law for the payment of pension
arrears, and yet look at their record of gigan
tic, legislative plumber! 1t is stated upon good
authority that there nine thousand soldiers
still alive III this country who have undergone
putatlon OF leg or arm; if placed in line as they
stood in battle and allowing three feet to each
man. they would present front six miles in extent
This six miles of mutilated heroes, at from SIS to
S24 per month apiece, receive about two million
dollars per annum, from their Government I can
name bondholder, who never saw the flag of
his country in any greater peril than on the Gus
tom-house in the city of New York. who draws
more money from the United States Treasury every
year account of his bonds than all these shat
tered veterans put together. Which of these debts
do you call the most sacred? Which is sustained
by the most valuable consideration? One grew out
OF the principle of note shaving while the other
grew out of willingness to die for the Union;
grew out OF hard advantage taken of the Govern
ment when It's existence aSsailed; the other
arises from the daring of devoted patriots deter
mined that the existence of the Government should
be maintained. They are alike protected in section
of the fourteenth amendment to the Constitution
of the United States.
The validity of the public debt of the United |
States authorized by law, including debts incurred
for payment of pensions and bounties for services