The sun. [volume] (New York [N.Y.]) 1833-1916, 1898-01-05
THE SUN, WEDNESDAY. JANUARY s, 1893.

rich pensioners mind for continuing to 40
cept the SIC q month. We are glad he puts
stress upon 1t, for 1t IL frequently urged In
other cases. During the war he was paid
by the Government in deprecated curren-
cy. The men who lent money, instead of
lending themselves, to the Government in
the national crisis have been paid In gold.
He regards his pension money, therefore, as
the balance due him In order to put upon
the gold basis his pay as a soldier. He
holds that he had the same right as the
~bondholder to the difference between de-
preciated ~greenbacks and gold. He thinks
he Is getting the difference now in the form
Of n pension.
Let us see how that theory works.
In the first place, whatever may be the
equity of this veterans claim to the differ
ence between the greenback value of his
pay during the war and the gold value, the
matter has nothing to do with his pension.
The readjustment Of pay tothe gold stand
ard, IL such be his right, is equally the
right of every soldier who received
his monthly pay in greenbacks worth
less than gold. That is a questio ion for
determination on its own merits, not
for settlement by means Of the pension
list. For II the bondholders really had an
unfair advantage over our correspondent in
being paid in gold, and our correspondent Is
merely evening up with them by drawing
his pension, our correspondent is gaining
the same unjust advantage over his unpen-
stoned comrade in arms that he maintains
has previously existed as between the
b%ondholder and himself.
Secondly, II the pension money coming In
to him now may be regarded rightly as ar
rears of monthly pay, adjusted to the gold
value Of the dollar, Is our rich pensioner
getting his just due, or is he getting more
than his just duea
Abrief computation may inspire thoughts
forty months at 1913 a month. His pay.
therefore, amounted to $500. Add
ing his bounty for retnlistment, also
paid in deprecated currency, the total
is 5000, in ~greenbacks. The average
value in gold of the g%reenback dollar dur
ing the period of his service was consider
ably over fifty cents. Let us call it fifty
cents. According to his present theory,
then, the Government owed ain at the
time of his discharge $500 more, in green
backs, for arrears of pay. Now, since 1865
he has received in pension money, credited
by him to account of arrears of pay, the
sun of $6,144 and this not in tifty-cent
dollars, but for the greater part of the time
in dollars as good as gold.
Thus it appears that according to our
rich pensioners own understanding of his
account with the Government, he has been
orerpdid already nearly tentoid for the
difference between ~greenbacks and gold. He
owes money to the Government, not the
Government to him.
We shall not undertake to decide for our
esteemed correspondent the question of
personal honor which nc presents. Every
rich pensioner, every prosperous pensioner,
every pensioner who does not need the
pension he draws, must decide that per-
sonal question for himself. But we wish
our candid friend, the rich pensioner. long
life and continued prosperity under the flag
for which he fought.