The National tribune., 1895-04-25
AN OPEN LETTER
To the Commissioner of
Pensions.

Inc American people nave never Hd'
squarely presented to them the enormit.
of cheating their veteran creditors b,
the completely of Death. They have
never been asked to think of the shame
less dishonesty of conniving with OLD
Age and the Grave to defraud the pen
sioner of his rights.
As class our people are the mos
honest in the world. They are the most
scrupulous about the discharge of debts
and obligations. An unpaid debt hurts
them like a wound, dishonored obliga-
ton burns and stings.
Do you want evidence of this? Look
at the earnest determination with which
they set about paying the enormous war
debt the moment the contest closed.
Though they had given lavishly Of their
means to carry on the war; though
100000 of them had given years of
service to the work; though they might
with the greatest justice and propriety
have remanded the work of discharging
the indebtedness to posterity; though
they might most properly have insisted
that the section lately in rebellion should
bear its proportion of the great National
effort they, did nothing Of the kind.
The loyal portion of the community
charged itself with the duty of paying
off the indebtedness and imposed upon
itself burdens the like of which had never
before been contemplated. The tax
gatherer was omni present and omnivo-
rous He laid a heavy, grasping hand
upon everything tina. entered into their
daily lives, from the match with which
they lighted their fires in the morning
to the soothing sirup they gave their
babes at midnight.
In 1865 the public debt amounted to
s7S-25 per capita, and the annual in
terest charge to s4.29 per capita. As
the one-third of the people who lived
in the South paid substantially none of
this, it really amounted to over 500
per capita, and the interest charge to
more than $3.50 per capita, or s31.50
per family, upon those in the loyal
States. But they were so earnest and
selfdenying that in the short space of
20 years they had paid over $1,000
100000 of the principal, besides more
than $4,000, 000,000in interest. The per
capita of the debt was reduced to SPA,
and the interest charge to 50 cents per
head. They were go scrupulousy hon.
orable in this that they Indignantly
repealed all suggestions of haggling
with their creditors. There was room
for quibbling about the terms of the
contract upon which the money had
been borrowed. Sharp practice sug-
gested that the bonds be paid in the
same money which the lenders loaned
the Goyernment-greenbacks. As at
the time large part Of the loan was
made the greenbacks were worth less
than 80 cents ON the dollar, and at the
time much of it was paid off they were
worth from rs to so cents, it seemed to
many people that the bondholders ought
to be abundantly satisfied to get back
from 30 TO 100 per cent. more than
they loaned, together with big inter
est all in gold. There was also a
proposition to pay the bonds in silver,
which had begun 10 decline in price;
and the reason given for this was that
at the time the bonds were issued the
silver dollar was the legal standard of
value.
But the innate honesty of the people
scorned all these tricks and subterfnges.
They had no patience with tricky tech
nicalities. Nor did they propose to
plead the "baby act" The understand
ing, at least, was when they borrowed
the money that it should be repaid in
gold or its equivalent So, though
man had lent only a grcenback dollar
worth about 80 cents, he got back a gold
dollar worth 100 cents, besides his six
per cent. in gold.
They have followed the same policy of
high integrity in regard to their State,
County, and municipal Indebtedness.
Now, is it possible, Mr.. Commissioner,