The Lafayette advertiser. [volume] (Vermilionville [i.e. Lafayette], La.) 1865-19??, 1909-05-25
Odorous Comparisons.
Shreveport Times:


Times:
Charles L. Swartz, of ST. Louis, is
the victim of a practical joke by which
he is in debt to George NJ. Welsh OF
Cincinnati in the sum of s134,217,72S.
In December. 1879, he gave a note
for a quarter he borrowed, and agreed
to pay 100 per cent. per annum. 1t
has gone on doubling and doubling un-
til it now amounts to as much as the
balance in gold required to be main
tanned in the United States Treasury.
At a thousand dollars a year it would
take Swartz $4,000 years to pay the
twenty-five cents and interests.
Probably Welsh will refrain from
making his old friend work for him
1884, 900 years. Probably when they
meet Welsh will say, Its on you
Charley" and the debt will be llqul-
dated in some other way than FOR the
maker of this twenty-five CERT note
of thirty years standing, and MS Gnu.
dren's children becoming the payee OF
il forever and forever For as n mat
fer of fact, at 100 per cent. per annhln,
the note now grows fast enough 10
make all the people OF a thousand
families slaves for millions OF a
1T would enslave the world IL it were
valid against the world.
A Joke, but a mighty interesting one
isn't it? But no application 10 your
.- .-c wilma If cO,JrGo
"Well let's see. In 1887 or there
af.outs. Henry o. Hayneyer combined
RI f,neries capitalized at ~S".aOo MT IL
the first Sugar trust. A tnlrd o.. 'heii
w.re dismanteled AMI shut Down and
never used again. They were WORN
loss The whole lot. good n BAD,
were worth at most 81 900 600. Rave
never. having a keen appetite % a
Joke issued $780, OO, 900 against these
hatroosts and owl cages. and. having
all the refineries in the country Dot
one proceeded to earn dividends. You
see there was a tariff of about ~ per
cen. ad yalorem-7S per e IN the
PAYNE bill-and Havemeyer, hghtiy
laughing at the joke, was able to make
every person in the United States pay
a. part Of these dividends with every
spoonful of sugar used.
After a while the law made him dis,
solve the trust, and he was put TO tne
trouble of going across the river lnto
New Jersey to ~reorganize. 1t was
vexatious: so he issued $25, DOT ,OOt
more of stock to pay himself. Still the
neople paid the dividends, and his orr
einal 81. 0OO, 900 of junk was behaving
like Welsh's quarter. After a Will
he issued SIS, 900, 900 more stock JUS
to heigthen the effect, and now, al
thought his concern has lost in proper
ton of sugar produced falling from
ner cent when the first trust wa!
formed to 81 per cent. now, his Orisi
nal 25 cents-no, 1000. Geo we mean
Of course, has lOw swollen to Sl4o.
600. 900 on which the people OF thu
dav and their childraa's children seen
likely to have to pay dividends. HI
started with four millions more thai
Welsh did. but he still has eleven mil
lions more than is owing Welsh, II
securities.
And why is the Havemeyer pape
any better than the Swartz-Welsh pa
per. in the real of morals? Is Their
any reason why? Just mention it
- W.
there is.
OF course, the Havemeyer paper
better on the stock exchange. Swaft
can't pay his note. v e If he is asked
The American people a pay tn
Havemeyer paper, and will if they ca
sugar. unless
Unless the people should happen
develop sense. Unless they cease
be fooled by the cry OF stocks an
bonds in the hands of widows and o.
phans. Unless they come to thin
more of the widows and orphans VIII
eat sugar than Of those who clip COZ
pons. As a matter of course, whe
the Havemeyer paper comes to /
scrutinized by the people, the paymeI
Of dividends are quite within the PEE
pies hands. They are going to !eaN
children, and children's children hel
to do the job, if it looks like a ia
deal to do it. Our guess is that tt
more enlightened people will chOos
to take care of their widows and o
phans in some less expensive way