Decatur Eagle, Volume 11, Number 44, Decatur, Adams County, 7 February 1868 — Page 1

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The Decatur Eagle.

Vol. 11.

ATTORNEYS. D. D. HELLER, Attorney at Law, DECATUR, INDIANA. Will practice his profession anywhere in Indiana or Ohio. OFFICE.—In the Recorder's Office. JAMES R. 8080, -Attorney at Law, DECA TUUR, INDIANA. . . Draws Deeds, Mortgages and Contracts. Redeems Land and pays Taxes. OFFlCE—Opposite the Auditor's Office. vlon6tf. UI.C. HOMt-l .1. RANSOM. BRANYAN & RANSOM. Attorneys at Law, Claim & Insurance Agents. Also, Notaries Pub'lc, DECATUR, INDIANA, References.—Hon. John U. ■ Petitt, Wabash, Ind.. Win. H. Trammel. EsqHon. J. R. Coffroth, First National Bank, Capt. V. D. Cole, Huntington, Ind., Hon. H. B. Sayler, Connersville, Ind. •WJ.C.BkantanU Depnty Prosecuting Attorney. •vllnl9tf. D. STUD AB A KER, Attorney at Law, Claim & Beal Estate Agent, DECATUR, INDIANA. Will practice law in Adams and Adjoining counties; secure Pensions and other claims against the Government; buy and sell Real Estate; examine titles and pay taxes, and other business pertaining to Real Estate Agency. He is also a Notary Public, and is prepaied to draw Deeds, Mortgages and other instruments of writing. vlOnlltf. RE AL E STATE AC ENTS. JAMES R. 8080, LICENSE!! REAL ESTATE AGENT. DECATUR, INDIANA, ACRES of good farming .800 land, several Town Lota, and a large quantity of wild land for sale; —If y ou- want to buy a good farm or wild land he will sell it to you. If you want your land sold he wiil sell it for you. No sale, no charge. vlOnfitf PHYSICIANS. ~~~ F. A. JELLEFF, Physician and Surgeon, UEC.f LTDLIYA OFFICE—On Second Street, over A. Crabbs & Co’s Hardware Store. vßn!stf. C. L. CURTISS, Plij stcfan & Surgeon. DECATUR, :::::::: INDIANA. Having permanently located in this place, offers his professional services to the people of Decatur and vicinity. Office in Houston's Block. Residence at the Burt House. v11n36 ANDREW SORC, Physician and Surgeon, DECATUR, WTDIJWT.fi. OFFICE —On'Seoond Street over Spencer & Meibers’ Hardware Store. vßn42tf. DENESTRY. A. J. RAUCH, Opperative A MechariicoJ DENTIST. DECATUR, :::::::: INDIANA. All workvntatly executed ind warranted to give satisfaction. Call and examine specimen-. OFFICE—With Dr. Jelleff, over A Crabbs & Co's Hardware store. vllni>9 "hotels. ~ MIESSE HOUSE, Third St., Opporite the Court Howie, DECATUR, WTD., I. J, MIESSE, ::::::::::: Proprietor. In connection with this House there is a Stage run io and from Decatur and Monroeville, daily, which connects with trains running both ways. yllu9tf. MONROE HOUSE. MONROEVILLE, INDIANA. L. WALKER, : ::::::: Proprietor, to: This House is prepared to accommodate the travelling public in the beet style, and at reasonable rates. nsvlltf. in® liitt A. FREEMAN, Proprietor. lfc«t Main Street, fteqf the Public Square. PORT H'Ar.TE, IND. vllnllyl. HEDEKIN HOUSE On Barr, between Columbia and Main Sti. FORT WAYNE, IND. ELI KEARNS, Proprietor. ' Office of Auburn and Decatur Stage lines. Also good stabling in connection with the House. vllnllyl. MAYER HOUSE. J. LES-MAN,Proprietor. Corner Calhoun and Wayne Sti., FORT WAYNE, vllnllyl. Indiana. MONROEVILLE EXCHANGE. MONROEVILLE, IND. E. G. COVERDALE, Proprietor. Mr. Coverdale aj glso a Notary Publie, Beal Estate and lasurtMS Agee 4 vlUlljL

DECATUR, IND., FRIDAY, FEB. 7, 1868.

f dlitiral. HOM. A. P. EDGERTON AS A BONDHOLDER. Ula Reply to the LaFayelte Journal. E. Zimmerman, Esq., Editor Fort Wayne Democrat. Sir :—The following note from you was handed me on the evening of the 24th instant Fop.t W;.yne, Jan. 24,1868. — Hon. A. P. Edgerton: Dear Sir: —Enclosed I hand you an article from the LaFayette Journal, and would respectfully ask you to give me your views on the questions asked therein, in order to answer the same understandingly. Yours, Ac. E. Zimmerman. • That the question presented may be fully understood, I copy the article io which you allude : k>eL'.ucratlc Abhorrence of filoudholders. The Fort Wayne Gazette aayc that the Dernecrats, to show their abhorrence of the bondholders, ha<e'nominated one of the largest bondholders in the State as their candidate for Lieutenant—Governor. Let him now advocate his party’s doctrines and hold on to his bonds, and he will be poor enough one of these days, if his financial views prevail.—LaFayette Journal. Suppose, for the sake of argument, we were to admit that Mr. Edgerton, the Democratic candidate for Lieutenant Governor, is a bondholder —what of that, if he is willing to take greenbacks for the bonds he may hold! That is just what the Democracy are advocating. They want the bonds paid in greenbacks, and if the holders thereof are willing to exchange them for that currency, the matter is settled. But that is not “what’t the matter.” The bondholders want gold—greenbacks are not good enough for that class of bondholders represented by the LaFayette Journal and the Fort Wayne Gazette— though Congress has made them the legal tender money of the country. Now if Edgerton, a bondholder, is wiling to take greenbacks for the bonds he holds, he deserves credit therefor, and is just, the man the people of Indiana ought to elect Lieutenant Governor, — Ft. Wayne Detnocrat

We understand that Mr. Edgerton is a large bondholder. Now we aik him, respectfully, through ths Democrat, or any other public source, to state if he would be willing to have the interest on his bonds stopped, and the principal paid him in i.on-interst payin g greenbacks, the payment to be made out of the 81,700,000,000 new issue proposed by his party ? In other words, is Mr. Edgerton willing to take, say 33| cents in greenbacks for one dollar’s present worth of greenbacks bearing six per cent, interest in gold? If so, he is willing to surrender twothirds and more of h'.£ bonds for the good of his country. • This would be patrio tic; hut does Mr. Edgerton think it would be very honorable in the Government who borrowed his money, to compel him to make euch sacrifice ? We venture to predict that the Democratic candidate for Lieutennant Governor, the moment he sees his policy about to prevail, (which we trust he never will,) will sell every bond he has, and let the blow of repudiation fall upon other and softer heads. This whole miserable greenback scheme is gotten up to catch votes, and no man of Hendrick's or Edger ton’s sense intends, if it should ever be reduced to practice, to be caught with bonds, or even the present issue of greenback and National Bank notes in their hands.— LaFayette Journal. It seems the LaFayette Journal and may other Republican papers in the State insist upon making me a “large bondholder.” Their purpose is to show that a United

states bondholder ought not to be a candidate of the Democratic party; or, if he persist in being a candidate, it must be at the sacrifice of his personal interests. Taking the position assigned me, of a bondholder, and being a candidate of the Democratic party and standing on its platform of January 8,1868, I will treat the questions presented from a Democratic bondholder's and candidate’s stand-point.

It may be stated that a Democrat not connected with the government for the past se. en years, and not interested in any “rings” the Congress or any contracts out of it. might legitimately h .ve had some property, and some money to invest in “paying securities and it may be assumed that he applied to his investments the average intelligence of men who had accumulated property by years of labor, and not suddenly, by government contracts. Finding himself in possession of money he desired to invest at paying rates of interest, he goes into the market to seek satisfactory securities.— He finds his government in the markets as a borrower. He may have had his own ideas as to the necessities of the government, and as to whether they were not occaasioned by reckless expenditures, and frauds and speculations; and as to whether it was necessary or politic to create a funded debt at all—especially a funded debt to be sustained and paid by the industrialpursuits of the country only.— Being powerless to effect any change in the policy of the government, or in the existing state of things, he “accepts the situation,” and, in 1864, invests 8100,000 in gold in government securities, which he obtained at prices varying from 162| to 256 f for his gold, the average being 198; that is, he obtained 8198.000 in government securities for his 8100,000 in gold—the bonds bearing six per cent, interest, payable in gold semi-annually, and exempt from all taxes. He could have sold, if he had managed a little closer, his gold on the 7th July for 273—0 n the 11th for 282— which would have paid still better. Such an investment, for the purpose of income, was decidedly advantageous as long as the government could afford to pay the interest. But, at the time the loan in which he invested, was on the market, there was an undercurrent of doubt as to its exact character. It was not expressly payable in gold, and the government had reserved the right to change the investment—to redeem or to substitute some other for it; always accompanied by the high national moral obligation, implied if not expressed, that the creditor should lose nothing by his loan if in the power of the government to protect him. This induced him to take the loan, knowing he would lose nothing in any event, as be could change his investment when necessary. He did not understand the government as proposing to contract with the lender as a speculator upon its necessities, who would demand more than his money and a rate of interest, in gold, which no othfer investment would produce. It was understood at the time these loans were put upon the market, that some change would be made in their character after a designated time. Doubtless there were false representa.tions made to some, in the sales of these securities, by those ready to profit by wrong doing ; and, it is possible, that government agents outside of their authority deceived some purchasers. But the great body of purchasers were not deceived, for it was patent that Congress could change the loan.— In what manner, and to what extent the change would be made it was left to the future to disclose, every one believing that in whatever Congress might do, abundant oppartunity would be afforded to make change without loss. It

:is true that many hoped and were anxious that the loan should be construed as payable in gold, and these immediately commenced their efforts to obtain from the Secretary of the Treasury some declaration of opinion to that effect. If there was, at the time, “a definite understanding that the bonds were payab’e in coin,” in the words of the Secretary, why apply te-him, subsequently, for his opinion? In the absence of any

positive law, he referred to the practice of the government, and gave an opinion upon which han been bujlt the gold paying argumen!';. The practice of ths government was notits law,nor cduld it become a precedent to be follow where millions, not borrowed —never received from Che government—were to be taken from an overtaxed people. It was a national wrong, in a case of doubt, to give a construction to a law or to assume a condition of things against the tax-payers and in favor of the bondholders. If there were doubts, why make them dollars to be taken from the people to go into the pockets of those from whose pockets the dollars never came ? That the people have made an issue upon this question, and are constructing all the doubts in their favor, is every day demonstrated. The Secretary of the Treasury, in his last report, says “some five hundred and fifteen “millions of five-twenty bonds are now redemable according to their tenor.” The Democratic party of Indiana propose to redeem them according to their tenor. It proposes to give me for my 8100,000 in gold, loaned in 1864, 8198,000 in legaltender notes, which I can to-day convert into 8140,480 in gold; or if I prefer to hold the legal-tenders I can use them in all the business relations of life. In addition to the 8140,480 in gold, which could be obtained for my 8100,000 loaned, I have received the interest semi-annually, in gold, and have been exempt from all taxes upon my bonds. Now the question is asked me, am I willing to receive the 8198,000 in legal-tender notes ? I answer, I am. Is there any reason why I should be paid 8198,000 in gold; what tax payers is willing to be taxed to pay me this sum in gold ? But it may be asked, Why pay me anything at this time ?— Why change my relation to the government as one of its bondholders ? If my interest only were to beqpnsulted, no payment would be necessary, for I must be very unreasonable not to be satisfied with the semi-annual interest in gold on my 8198,000, and the entire exemption of that sum from taxation, with the assurance tlfat this condition of things' is to continue for twenty years, at least, and my bonds to be all the time equivalent' to gold. But there are other interest in the uation to be watched over and protected, and the tax-payers, who have the debt to pay, propose to consult their interests and pay it now, as they have the right to do; and hence they say to me, You can accept payment or not; we do not propose to pay you interest any longer, nor do we propose to pay you 8193,000 in gold. I propose to accept the greenbacks.

The Secretary of the Treasury asks, “How would the Govern“ment of the United States stand “before the world—how would it “stand in the estimation of its own “people—iflT should decline to “pay according to agreement, the “money it borrowed when its very “existence was in peril, and with“out which it could not have pros“ecuted the war, on the ground “that the leaders took advantage “of its necessities and purchased “its securities at less than their “value ?” It will not be denied that during all the war there was a combination of moneyed men-r-money

JNTo. 44.

lenders—persistent in their efforts to depreciate the government securities for the purpose of purchasing at less than their value, and yet our government, unlike : any other on earth, in a time of war, permitted these combinations to exist and its securities to be depreciated, and dare not exercise the high prerogative of a government to take the money of these loyal-citizens when .it was daily, by force, taking theZives of thousands. In nothing did the Lincoln administration exhibit its weakness more than in this. Now, these loyal gold exacting money lenders propose to take the property left by those whose lives were sacrificed for their country. To the lender of money to the government when its existence was in peril, no one has ever proposed to do less than to return to him the “money borrowed,” and its interest, according to agreement. To him who “took advantage of the necessities of his government and purchased its securities at less than their value," we propose to do the same thing; pay according to the law. Now as every man wants his investments to be sure, undisturbed and paying, would it not be wisdom in the holder of 5-20 s matured and maturing, to accept payment while he can make money by so doing, as I have demonstrated, instead of endeavoring to force the people to aquiesce in an unjust and illegal demand ? Having answered the question asked by the Journal, from the position of a bondholder which it had assigned me, I will add a few words more:

The class of money lenders, to which the Secretary of the Treasury refers, who take *advantage of the necessities of their government, and “purchase its securities at less than their value,” are, of all others, the most clamorous for gold, and the loudest in their protestations of loyalty and of their sacrifices for the government. — Government is supported by taxes. The blood and the moneyof the people sustain it. Pay these men in gold, as they demand, and where is their sacrifice for their government? Who sold government securities at less than their value, and why were they so sold ? Did honest, loyal money lenders and tax payers demand the sacrifice ? Was it not rather that class of men who created governmental necessities, for the purpose of dishonestly supplying “and taking advantage of them,” who opposed a just system of taxation, because it would have brought to the knowledge of the people the extent of their robberies; and who, by all the appliances of money to corrupt legislation, secured the of non-interest paying legal tenders into a government security which exempted the holder from taxation ; which security when offered in the market, they immediately sought to depreciate, until in their possession, ‘at less than its value and now seek to appreciate by construction of the law and by the continuation of hn unjust and unequal system of taxation ? The charges of bad faith against the advocates of the early redemption of the matured and maturing 5-20 s according to law come from this class of bondholders. They will raise this or any other cry which they think will enable them to hold their wealth exempt from all taxation. They want industrial and producing classes of the country to make their bonds worth dollar for dollar in gold. They demand that all laws shall be such as their interests, dictate. It is this class of men, blind to their own interests, really, as well as hostile to the interests of the tax payer, and every man engaged in active business, which seems anxious to create a monied aristocracy to own a mortgage on the nation; to be paid, principal and interest, by the pro-

jucing masses; a thing which cannot exist in a free government without destroying its character. It is easy to foresee what, in this country, where but a small fraction of the people are bondholders, must be the consequence of such efforts. Bondholders should not deceive themselves as to what the people ask. Now they ask that one mortgage upon their property and their labor shall be paid, when due, as provided in the bond and this just demand is met with denunciation and misrepresentation. But bondholders will learn that the people know what they ask, that no sophistry can longer deceive them; that no party lines or platforms can bind an overtaxed people in their support, especially when injustice, in some form, has surcharged almost every act of legislation of the party in power. Yours, &c., A. P. Edgerton. Ft Wayne, Ind., Jan. 25, 1828. The Dangers which Threaten the Radical Party. The New York Tribune in discussing the new re-construction bill remarks: “All the fire and fury wherewith Congress is now assailed, means just this: The sham Democracy want to make twelve more rotten boroughs like Maryland and Kentucky in the South, by enfranchising the rebel white and disfranchising the loyal blacks, and the Rewon't let them. That is the whole story.” The Cincinnati Commercial, a paper equally as anxious to serve the radicals as the New York 2W&une, in commenting upon an article referred to in the latter paper, an extract from which we give above, says, that unfortunatly the representatives of the Tribune are not the whole story; and it. adds: “There is great danger that the Republicans, in seeking to accomplish too much, will lose every thing. The reconstruction of the South, according to the forms of republican government, is of far less importance than the preservation of political power in the hands of the Republicans in the North. What will it profit the Republican if it gain the whole South and lose the whole North? The North is the base of operations and ths seat of empire. And yet the Republicans have mismanaged so fearfully that a few months ago they lost New York and Pennsylvania, and saved Ohio by a graze. New York, Pennsylvania, Ohio, Indiana, and Illinois are of more consequence than all the States that were disturbed in their relations to the Union by the rebellion. Hence, whatever way be absolute justice in the political re construction of the South, the necessity of a wise expediency in the conduct of public affairs by those exercising authority.

Two Balls Meeting. A young ex-Confederate officer relates thefollowing incident which occurred during the siege of Vicksburg. It is the only accident of the kind we have ever heard of: “He says that during the siege of the place he was on the lines in front of the town. The sharpshooters on both sides were busily engaged. Sudenly a quick‘thud’ sound was heard above, and there tell almost at his feet a ball. A private in Waddeil’s Alabama Battery secured it. An examination showed it was composed of two ball—one from a Minnie musket the other from a Belgian rifle. “ point of the former had penetrated the side of the latter to the rim. Judging from appearances, the minnie ball had come the shortest distance. The imbedding whs strong, and impossible almost to be dis/agaged. The man who picked it up refused fifty dollars for it. He said he had no use for - want.prl tha u finomalv ,> to carry home to his “sweetheart.” He was killed in one of the subsequent battles.” We have often wondered why the balls that flew so thick should not meet in the mid air, but this is the first time we have ever been told or read of such an occurrence. Some one has said, “Beauty draw us by a single hair.” Then how about a whole waterfall T