National Republican., 1888-05-18
Democratic instrumentation.

The Raleigh y. c. Noes dm OLSGrCr.
the leading Democratic paper Uf the state
and the organ Of the party, In an editorial
entitled business says;
II aritizcu holds bond for si,Oo) bearing
iprl cent interest and due in iooG that is
with twenty years yet To run. and The maker
wants to take II mp, what would the maker
Offer for ity
We would suppose he would say, money is
worth Gper rent. and as the interest ON this
note is only per cent, its present value IS
about $500 At furthCst hc would say will
pay the principal aud stopthc interest Would
lie offer 10 pay 81 rotor the notcs Not unlc-,
hc was insane.
We'll, the ca.e Is NOW presented just in that
way. The government owes u lot of notes
due in 100, for $1,000 each. hearing per cent
interest. The holders of these bonds ask
sl,2iO for them.
Congress, and the law say that the surplus
money of the government must he used In
buying in these notes. The Democrats say.
stop the surplus, 50 that the government Will
not hay" any money tu pay In that way. The
Republicans say; "Oh, no; We are not willing
10 stop the surplus Buy the bonds" That
j. the way 1t stands,
within one month the government has paid
out SCI C'ij job for bonds amounting tu SIS,
osS.CCO that Is. the government in one month
has made Il present tu the bOndhOldcrs Of
more than S3,5OO,OOO. In q year the govern
m,nt will, at the same rate, make a present
To the bondholdcrs Of slOOO,OlO. In ten
wears, unless the Republicans are beaten, the
people will make present tu the hOndhoilcr-
Of SGiO.CCN,Uu0,
The plan oi the Republicans leads to that;
the plan ui the Democrats Is To Stop the bon |
purchases hy stopping the surplus.
II will be interesting to observe how the Re.
publican member, Of Congress from North
carolina vote on this question.
The only practicable way to stop paying this
bonus tu the hOndholdcrs is to vote for tlr
Mills bill. Wcwll see il uur North Carolina
members favor paying this bonus 10 the bond.
holders or not.
II would hardly br fair to suppose that
tile editor Of daily newspaper, published in
the capital of state, does not know better
than to make the statements contained In
the above editorial. To come to any such
conclusion would be to place the editor in
the class known rs 'diots.n But If he
does know better, aud we believe lie does,
then hc belongs To that class of men who
deliberately pervert facts with the intention
to deceive those who depend upon him for
information.
A brief statement Of the condition will
show that the Nc,rs 0ad ObSorcr belongs
either among the fools or liars when II
prints the article quoted
No Republican administration ever paid
penny for premiums on bonds. When Gen.
Garfield became President and Mr.. Window
Secretary of the Treasury the same coudi-
tionN threatened that did when Mr.. Clevc-
land became Prcsident-that Is, there was
danger Of a surplus, and that bonds would
command Il heavy premium.
President Garfield and Secretary Window
were not murtgagcl 10 Wall street, and
they ubcyrd the law. The same laws are iu
existence now. Window Or Folgcr or Me
CullUch could have paid premiums ON bonds,
but they did not That was left for 4 Dem.
ocratic administration, Secretary Farchld
commenced buying bond, at premium las,
October, and continued to buy until the
NATIoNAL REPUBLICAN, forced him to quit.
President Cleveland in his message to
Congress stated that he had doubts as to
tie right Of the Secretary 10 pay premium
on bonds, dmi dSkcd congress to gire him
hat pOIrrr The editor Of the News dnN
OL%Crrr knows this on he has no, read the
message. Secretary Farchlld made the
same request aud recommendation.
Mr.. Mills, the Democratic chairman of
the ways and means committee, introduced
bill from that committee authorizing the
Secretary of the Treasury to purchase
bonds. That hill passed the House. The
Democrats from North Carolina voted for
| it. Almost every vote against ii came from
the Republicans, and among those voting
against il were both the Republican mem
her, from North Carolina.
The bill went to the Senate and passed
that body, nearly all the Democrats voting
for It, With the knowledge Of these facts
unless he is one OF the most ignorant men
among the 36S,0 900 North Carolnians who
cannot read and write, the editor Of the
Nc,rs and OJScrer attempts to hold the
Republicans responsible for the acts ~ this
Democratic administration"
The people cannot g,. .ecciyed in that
way 1t was Democratic administration
that paid II preHiium to Wall street bond
holders JoSf6Tonds, when the law plainly al
IoMEtstt5' them to he paid At par or refunded,
/ and when a Republican administration,
under the same circumstances. did refund
| thCm.