| Show BONOS AND INTEREST The Herald yesterday wobbled and worried through an attempted history about coin and gold bonds and It was hard getting at what was Intended until we reached the conclusion of the article I said that in 1895 President Cleveland notified Congress that If It would consent to waiving Its option to paying In gold or silver ho could save by the rate of Interest over 16 000000 on a loan of C2000000 then being negotiated but that while that was rejected re-jected in the last Congress the option op-tion of paying in silver was surrendered sur-rendered and Inking the ratio of gain rejected when the Cleveland proposition proposi-tion was refused and applying it 1 to the billion dollars of bonds now affected af-fected the amount stolen from the people peo-ple of the United States equals 250 000000 That is i jumble that Is very hard to decipher > I Sir Cleveland would have saved 16000000 by Issuing gold bonds on 02000000 the reasoning Is that on a billion dollars of gold bonds the amount stolen from the people of the United States equals 5250000000 I needs a blueprint for that The fact is that the Government Govern-ment has called In S 100000000 of 3 and 1 per cent bonds and substituted in their place 2 per cent bonds which are selling at a premium That Is what the Government was uavlnc Slt 000000 per annum Interest on a year ago it is now paying 58000000 a reduction re-duction of 0000000 which in thirty years will amount to 180000000 That Is under the old rule the interest in thirty years would exceed the principal princi-pal by 5000000 Under the new arrangement ar-rangement the thirty years Interest will amount to only GO per cent of the principal Where the reference to tho kid gloved thieves who resorted to thickskinned lying in order to do a I little more business In the line of their profession comes In is very dlfllcult to see On the 100000000 in bonds just refunded there will bo a saving of Interest during their lifetime of 1SO 000000 and moreover they are selling at a premium while English 3 Del cent I consuls arc Belling at OS cents |
