Western Reserve chronicle. [volume] (Warren, Ohio) 1855-1921, 1864-03-16
000OO
Amt. of debt Feb. 1864. l.3s7. 437.73

Amt. of debt Feb. 1s54....sl,3 s7 .437, 739
In round numbers Fourteen Hundred
Millions Of Dollars. Do you see your
three thousand millions" there, Mr..
Constitution? l think o You have
made a trifing error of only Sixteen
Hundred Millions!"-an error. however,
greater than the whole actual debt itself.
You had better 60 back to first princi-
piles and study "Old Daball" again; or
what is better, just tell the truth, and in
form your readers that the public debt is
only Fourteen Hundred, instead of Three
Thousand Millions.
Again this article says that all this debt
is drawing six or seven per cent. interest,
in gold-which is ~copperhead falsehood
number tVo.
The truth is that one-third ofour debt
is drawing no ~iaterest at ali, and q large
portion of the balance is at a less rate
than six per cent. which makes the present
average rate of interest paid by the Gov
ernment only three ond three quarters per
cen'. per annum. Do you call that high
Interest. Mr.. Constitution 4? And this is
republican 6nanciering !" exclaims Mr..
Copperhead. holding up his hands with
a trembling of holy horror.
Yes. sir, this is Republican fnanciering.
You are right there. The average rate of
interest paid in 1871 was four and a quar-
ter: in 1916 it wa six and one-tenth ; in
1864 under Chase it is three and three
fourths. Republican 6nanciering enables
u 10 borrow Fourteen Hundred Millions
of Dollars at 81 per cent
Aud now, what is the Democratic Cop
perhesd inanciering? Howell Cobb. du-
ring the Administration of the old Pub.
Func." wanted Five Million Dollars. and
what cid he pay for it? Only one per
cent per moatR BItthat wasn't the worst.
for the scoundrel stole Il all into the bargain.
And that's copp-rhead 6nanciering.
Another illustration. Compare the
present gigantic war with the Utah
campaign against the Mormons. under a
eppp4rhead Administration. We have
" is-d war for three years with, say i've
hundred thousand men, (which ia a very
low avar'ga.y st a cost or five hundred
millions "A year The Mormon war lasted
some three months. with an army of rot
oyer ten thousand men. ana cost SIX
million dollars. Now If the expense Of
keeping ten thousand men in the field
for Three months cost six million, what
would our present expense be in the same
proportion. if the copPerheads had con
trni Of aft airs? Only Twelve Hundred
Million a year, or two and a half times a.
much as it really IS under Mr.. Lincoln,
m inagement. And that would be copper
head inancier;ng!
But this debt can never be paid, and
even to pay the interest will grind US al
To DEATH" shrieks the slarmist.
l. this true? Not a word of il. II i,
only copperhead ialsehood, number three
LOOK AT malteT one uOuDtut' IN
debt Of the nation after our las
war wirh England was One Hundred ana
Fifty F We Millions. TIE last dollar of i
wa paid in 1898. The interest and prin
,fple amounted in all to two hundred and
,ixty five miilions-wh ich was paid il
? gIteen wears. or an annual approIri
of fourteen millions paid it of, am
I VS. al raised 10y evenue loan, excep
million do.lars.
Tae present population and wealth q
he loyal States alone is now eight time
IS great as that of the whole countr,
n 1916.
Tue figures of the Census Bureau prove
his assertion. If, therefore, in 1916 the
Government raised fourteen million pei
'ear without any oppressive taxation lin
act only about one thirtieth part was
by tax at all, we can in 1864 raise
light times as much just as easily, or one
and twelve million g year.