The daily Wabash express. (Terre-Haute, Ind.) 1857-1867, 1862-05-16
The Public Credit-Gratify.n Re.
Sufls

nc iutllc CFCdIt ht- ahFAitcd ftrtai-
on the Stock Exchange within the past fort
night % SATURDAY week the sales Of The
Public Funds OF i-cl At pa az The board OF
Brokers. Vas deemed an event 80 ausp-ll0us
and gratifying as TO induce an exchange OF
congratulations befN cen the President Of the
board and the Hon. Secretary Of the Treas
ury. These Funds. Ia the darker days OF
me rcbellioa II the Summer OF l,6i, were
awarded from the Treasury as low a. > per
cent. and fell al one time on the stock TX
change 70 90 per cent. the accumulated II
tercst being thrown cut Of the account
A;osher award vas subsequently made 70
the Associated banks Of the three Atlantic
lilies al cJ,52 per cent 10 the extent Of at
q million Of dOliags. AL % fearful were
some Of the Banks that this operation might
Prove a losing one that they accepted The
mrs; ofiers Of the public, through the stock
Exchange. 70 relieve themselves az cost and
interest IL Was not until late in April that
the market advanced materially above % or
80 Ter cent. and under all these circum
stances the unexpected pleasure expressed
a. tue frs sales 10 Nav al tie par value OF
The Stock Is not 70 be wondered al, This
pleasure Is now Increased by the elFcum-
sances that on Saturday lasl the same stock
sold al 100 Ter cent.
Again. The patriotic people of the loyal
State we're appealed 70 soon after the dis
astsr OF Bull Run 10 subscribe 70 a loan, OF
three years date. Ia Treasury Bonds bear
ing the rate Of 80 per cent. per annnm IA
tere-t. or two cents per diem on the Sloo-
The banks advanced the money 10 the sx
tent Of $50 900 900. and the public sabscrlp
| lions came IN promptly 10 relieve this al
vance The Banks subsequently subscribed
| for a like amount for their own account a.
| a matter of further assistance TO the Govern
ment. rather than expected profit. and most
OF this sum was afterwards distributed with
out los by re sales 70 the public. Both The
| original subscribers and the Banks are nov
rewarded for their timely responses 70 the
appeals Of the Treasury by seeing taea,'
Bonds 90 up 10 the price Of lOi's per cent
and interest.
Another class Of public debt in the shape
| Of a-N ational Currency OF United States
Notes OF Circulation, proves equally success
| full They find universal currency through
| the y de extent of tho country, and are &C
| cepted as lawful money. not only without los
| or Inconvenience, but With pleasure which D
! heightened by tho complete triumph OF thi.
measure over the opposition aud appFehen
lion Of an influential class OF financial people
Il last winter. Over cue hundred millions
have been pat IN circulation. and receive.
with such favor that the difference agains
these Notes. "a compared with Gold Is abou
| two por cent less than when the law maklnl
them a legal tender was passed in February
| An auxiliary aid 10 the Treasury, IN tho shap'
Of ST per cent Certificates. having twelve
month 70 ran. has proved equally. acceptable
and the Certificates are readily made availa
able by the public creditor. - whom the
| are paid out az their par value.
These things have occurred 70 the publ
| credit. these various means have heel
| brought 70 the support Of the Public Treas
| ury. through the trials Of civil war OF Il
| gantsc proportions AMI cost. seifhoEf the mrs
dollar Of foreign aid. and against the predic
tons Of failure and bankruptcy and sneeI
| Of contempt Of the most influential journal
| in Europe. Not only so. but the success
| ia spite Of the most exaggerated and persist
| ent MISREPRESENTATION. at home aud abroad
| Of the sums total required for the war. an
| the progress and immediate extent OF III
Public Debt.
The fair and honest estimates oil the Sec
| re,ary of the Treasury in his annual report {
| December. have been either thrown aside c
utterly discfeditel, and members OF Congress
within a week past. have pat their names 1
an appeal 20 the people against the cncom
OF the Administration, IN which il u falsel
asserted that the Public Debt has bee
swollen 10 one thousand millions, IN place {
four hundred millions. "a Il actually stand
| in place OF S5l7 600 600 as the Secretary e
inmates 20 the 30th June next in his Fepor
aud in place Of $500 900 900, the outsid
calculation Of the Department. from q
present look of the matter as the amour
, | viii stand in the month ofJuly next.
Having heretofore, lin March las, > pr
sented the actual figures oft the Pupblic Feb
J | By way Of correcting the gross errors or mi
representations. then INDUCED and since al
, | .ravated for party purposes, we conclude Il
| present reference 10 the subject By the fc
lowing Approximate summary OF the presei
| debt
Five AMI SN pr cents. old debt al. se0, @
SIS per ccnts. - 1851 duo In lsSl. o, j0oe
Total Funded stock ................s i2c. oOo. O
Treasury Bonds. I-3s per cents ls6t- III ,oo0.o
r | Treasury Sofss 6 per ceufs. ls61....... $685.
Treasury Ceftacaies. per cents, l. mosto, 900, 9
United Stats Lotts 81 CirciiAilan.- uo.ooo.e
Total debt, Nas, 10, lss2. ......... ssoo. 600 Z
+ Total debt March Z. 1915 .-..-..... 600. 900 (
| Total dcet. March T. ssh s6.coo.t
: fncrs.,s Of debt g. sappf.. sDslhon. f5as 900
~ y 7itacs.