The midland journal. (Rising Sun, Md.) 1885-1947, 1891-01-23
AUGUST BELMONT.
One Of the Most Prominent Accum-
ulators of Property in this
Country.

uOW HE AlDkD THE DEMOCRATS TO
CARRY Pennsylvania Foa BU-
cnANAN, AND WHAT IT COST HER
CITIZENS.
Pomeroy's Advance Thought.
One Of the most prominent business
men and accumalators of property in
this country, August Belmont, passed
on to spirit life, few days since, from
pnehmouia resulting from exposure at
the horse show in Madison Square
Garden Thus passes away man 10
his 18th year, whose grip upon the
democratic political machinery Of this
country has been dolefully disastrous to
the party and to every wealth producer
10 this country. The true history of
his political life has not yet been given
BY any Of the daily papers that hare
given few prominent points in his
eventful history.
August Belmont began business lie
as boy clerk in the office of the
Rothschilds, [said to be an Legitimate
son Of one Of them, dealers in gold as
q money basis, and lenders of gold and
silver bullion as basis for monetary
issues Of banks and governments. He
developed an aptness for this work and
az ability to influence men. In 1887
was sent to New York city as con-
fdential clerk of the R9thschilds to
find places and make opportunities to
invest their surplus wealth in bullion
and coins to advantage in the matter Of
interest, and to buy bonds issued by
states and cities at the lowest price
possible to ensure the largest returns
for money.
In 1855, he was in the confidential
employ of the Rothschilds with his
office on Wall street, New York. He
was buying bonds for them. Previous
to this, Belmont had bought Tor his
principals a large amount of bonds
issued by the state Of Pennsylvania.
among them being bonds issued to be
sold for money required to complete
the North Branch canal. The canal
was not success. The state did not
receive value for the bonds and did not
pay the interest as it fell due. The
outlook was bad for the Rothschilds,
even though they had bought some Of
these bonds as low as 40 cents on the
dollar, to reap 81 and interest on 81 for
every 40 cents thus invested.
When James Buchanan was nominal.
ed, in 1856, by the democrats for the
presidency, the democrats of PennsJl
yania, bis native state and home, were
naturally anxious for his election
They required money to operate the
campaign. A committee came from
Philadelphia aud Harrisburg to solicit
money from democrats in New York.
They asked for contribution ct
$4,000. Among the men called on
for help was Fernando Wood and Hon.
Gideon Tucker, the well known demo
cratic secretary Of state.
this call on Mr., Wood, the
grounds were locked over, and it was
suggested to the visiting delegation
that August Belmont would be the
proper person to bleed That be was
financial agent Of the Rothschilds who
held million OF more dollars worth Of
Pennsylvania bonds, which the state
declared would be repudiated, owing to
faint in their issue, sale ad delivery.
"Now," said the New Yorker, Ego
see Be'mont. Demand of him $50 900
for political purposes in Pennsylvania.
and tell him in case the state Gin 1866
goes democratic, that you will agree
for and 10 behalf of the democratic
party. that it will pay the bonds. prin.
cipal and interest, and that if b, does
not thus improve an opportunity to
secure large gain, that the democratic
party Of pennsy lyania will forever
oppose his collection of the bonds Put
il to him hot and straight, and get
$50 000," said the spokesman.
But We don't want $4,000 All
we ask is $4,000. Let US ask him for
this sum and we may get it, was the
reply Of the spokesman of the visiting
party.
You are very slow. Here is com
ing the active republican party, form.
ing powerful organization, and
pushing Fremont as their candidate.
We win have hard work to stem the
rising 10 New York. We cannot spare
even 81 to your help 10 Pennsylvania.
But you can force $50, 900 out of The
Rothscbilds through August Belmont
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