People's Pilot, Volume 5, Number 23, Rensselaer, Jasper County, 5 December 1895 — BONDS AT BOTH ENDS. [ARTICLE]

BONDS AT BOTH ENDS.

How Grover Has Fattened the PocketBooks of the Bondholders. During Grover Cleveland’s first term as executive, there ■was a surplus of money in the treasury. How the government officers happened to let this money slip through their fingers is something that has never been fully explained, yet there was actually a surplus so big that it was a burden. The question came before congress, and measures were urged to dispose of this money. Some suggested one scheme and some another, but our Roger Q. Mills finally presented a bill providing for the expenditure of thi3 surplus in buyihg bonds of the government not yet due. In order to induce the holders of these bonds to surrender them, a premium was paid on the bonds, and in fifteen months seventy-two million dollars found lodgment in the pockets of the bondholders, in addition to the principal and interest due on the face of the bonds. Thus, the bondholders succeeded in getting in a bold robbery by the help of Senator Mills, to the tune of $72,000,000. This was the initiatory term of Cleveland.

When Mr. Cleveland came in on his second term a deficiency in the treasury occurred very soon, and how to dispose of the deficiency was a matter of much moment. Of course, it must be disposed of in some way to the financial benefit of the bondholders and money thieves. So instead of buying bonds, Grover went to selling bonds, and did the same as he did in buying bonds, that is, paid the bondholders a premium. The bondholders must have a steal out of the bond deal no matter whether the bonds are “a cornin’ or a gwine.” The money gang succeeded in fleecing the government out of from fifteen to thirty millions on the bond sale designed to procure money for the deficiency in the treasury. Thus Grover has fattened the pocketbooks of the bondholders at both ends of his executive service. When there was too much money, the bond holders were paid to take it out of the treasury, and when there was a shortage of money the bondholders were paid to put money into the treasury. It is down hill both ways for the bondholders and up hill both ways for the people. There is not the least doubt but that some one received a bonus for this scheme of feeding the bondholders fore and aft. As Grover has developed from a poor man to a millionaire in a few years on a moderate salary, it is reasonable to conclude that some of the fat went his way. Senator Mills is, of course, an honest man, but honest men rarely father a bill in congress designed to rob the people for the benefit of the bankers and bondholders. If Senator Mills did not receive a share o? this corruption fund, it is not because he was not in position to do so.—Southern Mercury.