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Benjamnin F. Butler, Butler's Book: Autobiography and Personal Reminiscences of Major-General Benjamin Butler 2 0 Browse Search
Charles E. Stowe, Harriet Beecher Stowe compiled from her letters and journals by her son Charles Edward Stowe 1 1 Browse Search
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Benjamnin F. Butler, Butler's Book: Autobiography and Personal Reminiscences of Major-General Benjamin Butler, Chapter 20: Congressman and Governor. (search)
m to have gold at the end of the twenty years for the principal besides. You cannot tempt me then to go into any enter-prise which shall not promise me more than eleven to twelve per cent. I must have much more before I will take my money out of government securities and put it at the risk of business. And it is this high rate of government interest which is crushing the life out of the industrial pursuits of the people. There can be no mistake about this. Look at the market reports of Cincinnati, one of the great marts of the West. No money can be got there for less than fifteen to eighteen per cent. Why? Because our capitalists get from eleven to twelve per cent. on five-twenties, and they are encouraged to hold on to their bonds and keep their money out of the business of the country; because the gentleman from Maine tells them that the government will pay the principal in gold, although they paid but forty cents on the dollar for them when they bought them. This is the reaso