The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-05-17
WHERE IS THIS GOING TO END

WHERE IS THIS GOING TO END
Are You in the Fight Against Organized
Robbery
The System by 1Chich Money Spec~ta-
tors Enrich TbemSeIUes-SenatOr
Beck Furnishes Facts and Fig
ares and Proved them by
Government Records.
The Poor Producer
Pays the Piper.
Senator Beck, in a speech delivered
in the United States Senate on January
10 1874 stated that the bondhOIders
had made out of the people, since n
first bonds were issued in 1862, up to
1869. at which time the bonds were
made payable in coin, over n thou
sand million dollars profit!
The Senator furnished the figures Tor
his statement and proved them by the
government records. Let us see how
it was done:
1862 During this year the govern
ment sold bonds valued at 800, 9S2, 400,
for which it received, however, only
$44. O3O, $40 in gold. That is, the $50
bonds were exchangeable for green
backs, and the greenbacks we received
were only worth that much in gold to
the government. On this transaction
the spectators made a profit of $16.-
95L,SO1. Besides this, the bOndhOlder
had also received in interest, from 1862
to 1874, when the Senator gave his
figures, $11.1 S7. 1873, making a clear
profit of $28, 139, 989 the first year-a
clear steal, for which they did not
give one cent, MT even taxes, in re-
turn. When you remember that you
have had, and have yet, to pay these
bonds in coin, the full amount of sixty
millions, you will realize the full enor
nifty of the steal.
1863.-In this year the government
sold bonds to the amount of $3.50, 9S7,
$50. The greenbacks we received for
them cost the spectators $101, 800, S54,
for gold was worth then 81. So, which
gave them a net profit of $50, O96, 696.
Add to this the interest we paid them
for eleven years. which was $35. 1885,
OH, and they stole from us that year
1914, 5i5, 713, all of which came out of
the farmers, miners and producers,
for they alone create all wealth and
must eventually pay all debts and ex-
penses.
1COE-"AAIS y col GA1C SONS1L COO4A
bonds valued at 1891, 292, $50, for which
it received only-as gold was worth
50 01-$I39, 697, 636, or less than one
half of their face value. The money
spectators made a profit of $19I, 1884,
613. Add to this interest for ten years,
and they took from lis that year $780,
= 55l,382.
1S65.-During that year the govern
ment-we, the tn; * headed people, be-
trayed by our representatives-sOld
bonds to the value OF $279, TAG, $50, for
which we received, however, only
$2C8, 213, 090. The robbers retained for
themselves 81, 532, 060. Adding the
interest for nine years, $38, 527 3O7,
and they stole, in 1865, $11O, 159, 1867.
While some of you were offering your
: life's blood for your country, these
cormorants were robbing you and your
d~efenseless wife and children at home.
How do you like it.
1866-This year we sold bonds to the
value of 1924, GA, 400, for which we re
ceived only $66, 591, 773, giving the
money sharks a net profit of $685.
627. Add to this the interest for eight
years, $17, 434, $50, and they made out
of us a total of $50, Isl, 1S3.
Whlleyou are studying these figures,
dear reader, please continue to remem-
Der that all this time, as fast as the
government received these greenbacks
it destroyed them, thus contracting
our money circulation, taking the life
blood out of the nation, and loading it
down with an interest bearing debt.
Did you do it! Of course you did. You
kept on voting with your old party,
both of which enacted laws making
this robbery possible.
1667.-This year we sold bonds
valued at 1921, 469, $50, for which the
purchasers paid the government only
1908, 8O5, SOB, giving them a profit Of
Sis, 254, u47. Add to this Interest," paid
them for seven years, $4S, 67l, 494. and
b a year they stole a grand total of
1857, 915, 74l, which amount you and I
have had to pay to these patriots(0
since.
186S.-Thisy earthe governmental
bonds valued at 1926, 443, 800. for which
it received, however, only 1912, 626, 3z6,
leaving a profit to the spectators of
$112, 617, 497. Add the interest for six
years, $40. 542, 288, and we gave away
1888. 159. 765.
Besides the 5 per cent. bonds, the
government sold also during this time
6 per cent. bonds amounting to $780,
139, $50, for which it received, how.
ever, only $123. 957, 40, giving away
$72. 1872. 140. Add tO this the interest
paid them, $26, lis, 724, and they made
out of the 6 per cents. 1913, 298, 1854
The following recapitulatIon of
profits will show at a glance the trans
action:
&c, Net profit.
1855 73
1 1$8t 9o9 81 $50