Democratic Sentinel, Volume 3, Number 29, Rensselaer, Jasper County, 29 August 1879 — SHORT CATECHISM. [ARTICLE]

SHORT CATECHISM.

Some Soektlologers for Secretary Sherman to Answer—Has His Policy Proved Such a Shining Success ?-AFew Facts and Figures Which Would Seem to Indicate Otherwise -riow Widows and Orphans Are Plundered for the Benefit of the Syndicate. [Washington Cor. Cincinnati Enquirer.] Secretary Sherman has left here for Ohio. He goes into the State to make campaign speeches—to induce the voters to cast their suffrages for Charles Foster, his creature. In view of the fact that the impending campaign is one in which Secretary Sherman is the central figure, and who will reap all the advantages of a Republican victory, the following catechism, for the guidance of those who will listen to his speeches and soe fit to ask him some questions, is prepared: Secretary Sherman will tell the people of Ohio that he has closed ail refunding operations. This ho told tho people of Maine. He deliberatly deceived them, aud will likewise attempt to deceive the people of Ohio. He has on tho contrary, not yot closed his recent contract with the pet Syndicate, whi eti at one fell swoop got control of all of the 4 per-cent, bonds. Of the $180,000,000 subscribed in these bonds by tho syndicate, $45,000,000 yet, remain unpaid for; and Secretary Sherman, in that spirit of liberality which he has always extended to a few Eastern banks, has extended the time for final settlement until Oct. Ist, although the original contract, which ho has violated at discretion, provided a final settlement should Le inado on July last. The immediate result is that the banks have the- use of $45,000,000 until Oct. Ist which belongs to the people, and should have been in the treasury thirty days ago. With money worth 2 por cent, at call, it will require the aid of a lightning calculator to find how much money the syndicate will make out of the $45,0e0,000 which Secretary Sherman allows thorn to use. This is not the only reason, though, that Secretary Sherman gave tho Syndicate an indulgence. Had a settlement boon made according to the contract, 4-per-cent, bonds would not now be at a premium—-they might be held at par. Sherman, fearful of this decline, indulged the Syndicate rather than pressed them, because he wanted to keep the bonds up until after the Ohio election, so that ho could point to the negotiation of the 4-per-cents, with pride; and tho higher the premium at which they were hold, the more pride he would take in the transaction. It may be well, also, for the people of Ohio to know, while Secretary Sherman is among them, that on the day the contract with the Syndicate for the "4 per-cents, was made the United States had on deposit in tho hands of the national banks the sum of $200,000,000, and these same banks still have about $40,000,000 in 4 per cent, bonds to loan Western farmers at 2 per cent per mouth to enable them to get their crops into market Tho syndicate have three months to pay for these bonds, during which time they collected the interest, which at 4 per cent, per annum is 1 por cent, aggregating SIBO,OOO profit before they were called on for one cent This is not all. The monopoly thus put in the hands of these bankers made a corner on the bonds, and they were enabled to charge 2 per cent, premium on the bonds, which makes a clear profit of $360, JOO, or, altogether, the Erolits of this transaction between the national auks and John Sherman was $540,000. Now, who does this money come out of ? During the extra session of Congress a widow of a Union soldierjwrote a member of Congress that she had certain United Scates bonds in trust for her children, the proceeds of her deceased husband’s pension; that she had applied for the interest on her bonds, and for the first time ascertained that her bonds were among those called in, and the interest had ceased. She requested the member of Congress to go to the Treasury Department and exchange her bonds for four per cents. The matter was presented to the United States Treasury, and the reply was that the party could get the face value of the bonds in money, but the Government had no securities for saie. The consequence was that the poor woman had to pay a premium of per cent, (the small dealers must have their profit, hence the half cent additional), and the exchange for transmission was half of 1 per cent more, entfilling a loss equal to mne months’ interest on her little patrimony. While the great capitalists of tho country are lauding Sherman’s financial success, somehow the poor widows and orphans are not able to appreciate it

Benevolent clergymen to Joe—- “ Why are you standing there, little man?” “’Cause I’ve got nowheres to go to.” “ Where are your father and mother?” “Dunno. Gone away ever so long.” “Poor little fellow 1 Well, well; can you answer this question? When your father and mother forsake you, who is it that will take you up?” “ The policeman.” * F