The Bolivar bulletin. [volume] (Bolivar, Hardeman County, Tenn.) 1865-1888, 1867-08-10
Paying Bonds in areenbaoks.

The Cincinnati Enquirer talks thus on the
financial condition of the country.
Friends, let US reason together, on the
subject of paying the national debt IN legal
tenders.
First, we must see what our financial con
dition is The Secretary of the Treasury,
1 the highest and most reliable authority IN
such matters, IN his last report states the
debt at S2,2I5,6l5, $50. Ts this Is to be
added the amount of fractional currency
now ia circulation, estimated at $50 0UOUOO
besides the legal tenders at present out
amounting say, to S500,000,000, making IN
the aggregate a debt in round numbers of
50 00000 The bonded debt, say S5,9OU,-
100000, bears interest, winch interest
amounts to at least $780, COCOON annually.
The legal tenders and fractional currency
cost the people nothing
We now propose to put the whole debt
upon the non-interest basis by issuing legal
tenders to take up the bonds. TINS poiiey
puts an end TO the whole revenue system
and relieves the people Of three-fourths OF
their present taxation. by DONG TINS we
also get rid of an army Of Office holders.
piInps, spies and detectives, who are ea5InS
out the substance of the country ny
should not this policy of paying the pnohe;
debt be at once adopted If the United
States are good for their bonded debt, Wny
net for their legal tenders If the bonds
are GOOD. so are the legal tenders. But it's
said by the cunning, foxy bondholders, who
desire to darw his annual interest, and be
relieved from all State and local taxation,
that it would make money too plenty.
In order to understand this objection let
us see what amount of money we SHOULD
have per individual If we pursue this policy.
BY adopting it, we put out OF circulation
(300) three hundred million dollars of blue
backs, or national currency, which are not
Iegaltender and vet for whose issue the
Government pays eighteen millions of dol
lars annually This Withdrawing the hue
backs or national currency would reduce
the bonded debt to (2,200) twenty two hun
dred millions. Converting this last amount
into legal-tenders, and adding to it those al
ready out, and we have a total circulation Of
(2.7O0) twenty-seven hundred million dol
lars, or (77) seventy-seven dollars per head
of each inhabitant of the URited States.
Who will affirm that seventy-seven dollars IS
too much for each individual? The bond
holder will not dare pretend that this Is too
great a debt for each person On the con-
trary he expects every individual to pay him
or his children that very amount IN gold.
This bonded debt is the greatest blight
and curse that rests upon the country. CHE
Enquirer does not live in BrOwnlOw's do
minions.) It has caused stagnation in
every kind Of business manufactures, trade,
commerce, aud mechanical arts, are all pros
trated in consequence of the incubus.
No one will embark in business, no one
will invest IN real estate or build houses,
steamboats,, railroads or ships, when he can
put his money in bonds, drawing $40 in
terest, and be free from taxation, which
amounts, in the city, to over three per cent,
being really equal to ten per cent in other
investments 1t is high time the people
should look at this question in a business
manner It is not a party question, but one
that concerns the pecuniary interest of
every person