Alma record. (Alma, Mich.) 1878-1928, 1895-03-01
A GIGANTIC ROBBERY.
The Government Loses Many
Million Dollars.
DEATH OF FRED'K DOUGLASS.

Capt. Howgate Acquitted Nearing the
Close of the Congressional Farce.
Special Correspondence.
WAsnlNGroN, ID. c., February 27.-
Something more than a ''tcmpest in a
teapot wa, caused here by the publica-
ton I'm the New York World, q few day,
ago, of an article charging thai the gov
ernment had, iiguratiyely speaking.
been "hcld up" 10y the manipulators of
the last bond issue. aud "buncocd" out
of many million dollars. II was an
open secret among members OF both
houses and public men generally that
the sale Of bonds had been made 20 the
Morgan-Belmont syndicate at figures far
below their market value; but the enor-
nifty Of the swindle was not fully real
lied until the Worlds article appeared.
The article further states that the Amer
lean share Of the loan was bid Tor in
New York many times over N from ll6
tolls. and London bid for 5000 100000
at ll6l.
The World present, figures computed
bv acluary experts. a follows: Face Of
loan. 500, $4,000: syndicate premiums
AT 1914 -. $2.7979I3. United States
gets $65.l12.9i3; profit 10 syndicate At
1928. S4.S35.644 Inside iobbers paid
S69.94S.5S7. and sold at us, realizing
profit OF 81. 5S3.ll3. The public paid,
and the government should have re-
ceived. S73, 53l 700; this sum at / per
cent. for 30 years, represents a profit
lost 10 the government of S2GG2S,616,
amounting TO almost half of the original
loan.
Belmont Il Morgan of New York
bought SCI, 3l5 600 at l04. 40, and sold
Al 1l2 %, clear profit Of $3.50, Gil.
Inside iobbers bought the same amount
az 1925, and sold at lis, their profit
amounting to $3.5S3.113. The general
public bought $62 3D. 600 at IFS, by
which transaction the government lost
SS,41S,151
Commenting upon this stnpendouS
fraud, the World says: 1t took Just -
minutes for the syndicate to pocket a
profit of over 100000. II was SIM
ply method of distributing the bonds
among the men in or behind the syndi-
cate according to pre-arranged plan,
and taking profits TO date as brokers
say
Just what action congress, will take in
the matteris not Known. but some action
is imperatiyely necessary. else congress
must bear the odium of cOnniving with
the participants in one OF the most
gigantic steals of modern times.
Frederick Douglass, the noted freed
man. orator, and diplomat died sud-
denly At his home in Anacostia. sub
urb of Washington. Wednesday evening
February p.
Frederick Douglass was born in
Tuckahoe. Talbot county, Md, in FEB
ruary, 1917, his mother being slave
and her master was his father. When
10 years old he was sent 10 Baltimore.
Here he learned TO read and writes being
taught by his mistress. His master al
lowed him TO hire his time, for which
he paid three dollars week. When he
was q years old he ran away 10 New
York city, and later went to New Bed
ford, Mass, where he married, and re-
sided several years. Up to this time he
had been known as Lloyds, from the
Bedford he changed his name TO Doug
lass. He was prominently identified
with the anti-slavery movement of that
time, and published his first book, en-
titled Narrative of my experience in
slavery" In 1915 he went 10 Europe,
and lectured in many cities upon the
slavery question. While in England he
was presented with $500, and with this
money he purchased his freedom he
remained in England nearly three years,
and then came TO Rochester, y. Y,
where he commenced the publication OF
newspaper. He continued his literary
work until 1889. about which time the
John Brown riots occurred in Virginia.
Douglass was said to be implicated in
these riots, and an attempt was made
10 arrest him, but he escaped to Eng
land and remained until the excitement
subsidized, when he returned 10 ROcheS
ter. At the outbreak of the war he
turned his attention TO that struggle
After the abolition of slavery he devoted
his entire time to lecturing, until 1871
when he was appointed assistant secre-
tarv to the commission in San Domingo
President Grant appointed him mem
Der of the territorial counsel for the
District of Columbia. In 1872 he wa.
presidential elector at large from the
state of New York, and carried the vote
of that state to Washington. In 1876
he was appointed United States marsha
for the District of Columbia, and il
1889 President Harrison appointed hin
minister TO Hayti. This was the las
public office held by the man who ha'
been aptly called "the Douglass Of TIT
colored race"
Mr.. Douglass second wife, who sur
wives him, is white woman. At thu
time of her marriage she was clerk il
the office of the recorder of deeds fol
the District of Columbia, when Mr.
Douglass was appointed to that office
The marriage created considerable feel