The DeLamar nugget. [volume] (DeLamar, Idaho) 1891-1900, 1892-08-27
Millionaire Hatchery.

Soon after the close of the war and
after the blood and treasure of the
people had maintained the flag and the
integrity of the union, English and
American syndicates of patriots came
forward to show their faith in the gov
ernment and loyalty to the stars and
stripes. These mild hammered gentle
men made no bluster but quietly bought
up millions of greenbacks at, from 35 to
so cents on the dollar. AS an illustra-
ton as to how so many millionaires and
paupers have been hatched out in this
country we give an example that will
apply to many cases. An association
throwed into a pool S500,000 in coin,
bought 81 100000 in green blacksmith
these they bought 81 100000 worth of
q. S. bonds bearing interest at six per
cent. paying semi-annually in coin.
They placed these bonds with the
treasurer of the United States, and re-
ceived 10 turn 100000 in blank bank
notes from the government with which
they opened national bank. These
notes were signed by the president and
cashier and loaned out at an average of
ten per cent. per annum interest, equal
to 100000, amounting in twenty years
to 81, ,800,0 The interest on the
bonds paid by the government in coin
was $50, 900 every six months. In
twenty years this interest account
amounted to 81 100000 in coin. The
amount of interest received on the
banks circulation was 81 800, 900. The
amount of interest received from the
U. S. treasury was S1,200,000 in coin,
equal to 100000. We take from this
sum SIS0,000, being the one per cent.
U. S. tax on the banks circulation and
it leaves the interest income above
named, S2,S20,000. The $1,200,000 was
loaned out at ten per cent. as received.
Making in twenty years 100000
more. Add this to the 50, 500, 900 and
we have So, $50, 600 of interest received
on an investment of $500,000 clear
profit in twenty years and the
bank is still pegging along. We
have not yet counted the interest
on the 800, 600, interest received yearly
on the banks circulation, in twenty
years it amounts to $l,SS7 ,O00 Now
we add this to the So, 9S0,000 above and
we have the grand total of interest re-
ceiyed on the investme mt, So, ,S67 900.
In this calculation we have not tax en-
into account the interest upon interest,
Oub uPOh hiob ihtCiCotj uPOh tliV LII oC
loans on circulation and upon ioterest
received from the government. We
have about 1000 banks, but say 1000
and take the above as an average pros
porous bank of the 1000 and we have
S11 734 100000 scooped out of the peo-
ple's pock cts in the banks vaults. Is it
any wonder the people are being pau
perized and focking by the tens of
to hear General Weaver to
find out what is the matter. Is it nota |
greater wonder that the people have so
long tolerated the two old parties hich |
have enacted such vicious legislation to
enable the favored classes to thus rob |
The toiing mass. If they would but re-
feet a moment upon the mad career of
.hese parties during the last 27 years
and the ruin and havoc they have |
brought upon every industry of the
he people, at the dictation of the
money power, Harrison or Cleveland (
would not receive an electoral vote in
either of the A states-and silver at SO |
;ents.--Silver State.