The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-04-19
bidders-we will be the highest hid.

onSerS-leavlng the government
to feed. clothe and pay its army
of million men as best it could.
Let it not be forgo item that on the
very day that this conference be-
tween the bankers and Chase was
held at Washington, not less than a
hundr ed thousand Confederate SOL
diers were encamped SO near the
National capital that the sound of
their cannon could be heard in the
halls of congress.
From the very spot were the con-
ference was held the rebel flag could
be seen floating in the breeze on the
Virginia hills.
In that dire emergency, when the
life of the nation was trem bling in
the balance, these. men of money
turned upon their heels, snapped
their fingers in the face of the gov
eminent and left it to its fate.
We cannot better express our de-
testation of them than to say that
as between them and the men who
wore the rebel gray; between them
and the men who stood beneath the
rebel flag, we have infinitely more
respect for the latter than the
former! The latter met US like
brave men; the former deserted US
like sneaks and towards.
Then the greenback child was
born! The money of the nation
fiat money" they sneeringlv call it
now-came to the relief of the gov
eminent.
1t was issued and paid to the old
soldiers.
Farmers accepted greenback
money for the products of their
labor.
The people took it without hesita
ton. 1t was honored by every
patriot in the land.
At the same time the government
began to issue bonds.
BY skillful manipulation the
money mongers persuaded congress
(that branch known as the house of
lords to make the interest on the
bonds payable in coin-and to make
import duties payable in coin.
In this manner they forced pre-
MUM upon coin-which they con-
trolled.
When the premium was forced to
a point where it was proftab BILE to
sell their boarded coin and invest in
government bonds, they did so.
(Read the report of Secretaries
Chase and Fessenden upon the sub
leCt
BY thus forcing coin to a premium
they purchased two thousand mil
lion dollars IN bonds with less than
fourteen million dollars!
More than $6OO,OOO,OOO did they
compel the government to stand in
the shape of a discount.
This is rs per cent as much as has
been paid in pensions sine the close
of the war in spite of all the howl
about pensions!
This is almost as much as Ger
MANY extorted from France at the
point of the bayonet in 1871.
This is more than was paid to the
rank and file of the whole armv
during the entire four years of our
war!
You say twas robbery. But with
hold YOUR anathemas-for the worst
Is AOC yCC lOlu.
These bonds were originally pay
able over the holders thereof-the
same men who had thus wickedly
trafficked in the hopes and fears of
the nation-procured the passage
of law making the bonds payable
in coin instead of greeebacks.
Then they got them refunded into
long time bonds-exempt from taxa
ton.
Then they caused silver to be
demonetized, leaving gold the only
coin money. Thus the bonds were
to be paid exclusively in gold.
Then came the resumption act
to retire the greenbacks, contract
the currency and establish gold
basis.
Perpetual debt and the gold basis!
Such was the purpose of the bond
robbers!
X
After thirty years what do we
see? Let US count the cost.
About So, 600, OOO,O 600 of gold inter
est paid-on the debt that cost the
holder about 60 cents on the dollar.
Nearly $4,000, 900, 600 of gold prin-
cipal paid.
In all, nearly S., 1000, 900, 900 in gold
paid.
And yet there is about 5000, 900, 600
of the debt left.
And yet the worst is to be told.
Although the amount of the debt
has been reduced from So, 600, 900, 900
in 1866 to 5000, OOO,O that which
remains, if measured in the product
of la bor-is nearly twice as large as
it was originally.
After paying $1,000, 900, 900 princi-
pal and interest in thirty years our
debt has really been increased!
X
Here the salient points in this
bond history-a history which ought
to make every American blush with
shame.
To-day with brazen effrontry these
infamous bond robbers step to the
front and pose as patriotic benefac-
tors of the nation.
The old soldier is pushed to the
rear.
The cut-throat bond purchaser is
crowded to the front.
The man who laid his life upon the
altar of his country is forgotten.
The man who speculated off the
necessities of the republic is APP
plauded and rewarded.
What should be done with these
bonds?
Should the public listen for mo-
ment to the impudent demand of
these heartiess Shylocks that their
bonds be paid exclusively in gold9
Does justice and equity demand
even another dollar of payments
Should not the whole debt be at
once wiped out of existence-and
the people be declared free from
the curse of an untaxed National
debt2
In 1868 this great nation had the
courage to wipe out of existence the