The National tribune., 1909-10-21
"UNCLE SAM MUST BE A GENTLE
MANI

&'A<h-N'
Many years ago, when Congress was
discussing the obligations of the United
States to its bondholders, Senator Jos.
R. Hawley, of Connecticut, laid down
the great principle that "Uncie sam
must be q gentleman" He meant py
that that when the Government put out
its promissery notes to get money in its
time of need 1t must pay those notes in
full without quibbling and pettifogging
with its creditors. When the Govern
ment was in sore stress for money at
the darkest periods of the war 1t begged
financiers to come to its help, and these
drove the hardest possible bargains with
it. Many hundred millions-in fact,
most OF the money raised for the prose-
cution of the war-were obtained by
selling these bonds for the deprecated
greenbacks. The interest on these was
paid in gold, and when they matured
the question came UP of paying the
principal likewise in gold. That Is,
when man loaned 800 in greenbacks
to the Government he bought with them
S1UV DOIius AT OHE SiiiiC tAC ShCCh-
backs fell to the value of 3s cents, SO
that in reality he only lent the Gov
| ernmept s3s. Upon this $3S he got
every year $6 in gold interest. When
the bond natured the question came up
whether the Government should pay
him in gold or in the same money which
he had lent, which was then worth 60
4 n
party arose in the country, which advo-
Gated the repayment to the bondholders
of the same kind of money which he
had lent, and 1t was held by them that
he had made q very good bargain, since
the money which would be repaid him
was worth from so 20 100 per cent
more than that which he had lent. 1t
was at this time that Gen. Hawley ut
tered his notable saying, which became
the rule of the Government in dealing
with its creditors. This determination
that Uncle Sam should be gentleman
received the heartiest support of the
veterans who had fought the war thru
and who were then the controlling eie-
ment in our politics. 1t was thru their
votes and their unfailing support that
the measure was carried thru and the
bondholders received payment in gold
/ for the bonds which they had bought
so cheaply. To do this the veterans.
who were then the great body Of the
Iwage-earners and wealth-producers of
the country, submitted to the most
onerous taxation. Everything that they
bought, used or ate was taxed, from the
matches with which they lighted the
fire in the morning to the soothing sirup
which they gave to their babies at mid
night. They made this contribution to
| the financial honor of the Government
as cheerfully as they had given their
lives and the strength of their young
manhood to the service of the country
| on the march and the field Of battle.
The result was that the money-lenders
received billions of dollars in principal,
| interest and allowances, which they
would not have gotten had the opposi-
ton prevailed and the Government paid
off its bonds as powerful party was
| trying to compel.
We claim that generous provision
for the old age of those veterans, and
which is contemplated in our National
Tribune pension bill, is Just as neces.
sary to constitute Uncle Sam a gentle-
man as was his punetilious repayment
to the letter of his obligations to the
bondholders. The men who will receive
the benefits OF the increase in rates. the
men who are getting pensions to-day.
| tTenrlCQnt T1oGg Of
in addition TO their services In the field,
gave more IN actual money to the Gov
ernment than the bondholders lent to
IL. Every man who served the Govern
ment In the army or navy made finan-
cial sacrifice TO do this. If he was a
| farmer boy, mechanic or a business
man, he gave up great opportunities for
making money TO accept the meager s13
a month, with the slender clothing and
food allowance which the Government
| offered him. We have before computed
that this sacrifice of wages and oppor-
tunities must have averaged at least
$500 TO every man who served three
years "a the army or navy. Multiplying
this by the 2,320,272 enlistments re-
duced TO a three-years basis, we have
the immense aggregate of over $4,000
100000 voluntarily contributed by the
men who fought the war thru to VIC
tory. Reduced to a gold standard, the
money-lenders lent the Government
only about s2,500,0oo. 900.
Therefore, TO raise the rates as con-
templated in The National Tribune PEN