The Wyandot pioneer. (Upper Sandusky, Ohio) 1853-1868, 1867-08-15

do d iCool ucHldSOSue seeking OF
fee by falsehood and trickery?
But to return to statistics The
ASSESSED valuation of the entire prop
erty Of the country, real and person
al as near as cah be determined, is
$25, 100000, 900, and its actual cash
vhlue hot less than S45, 200, 900, 900,
while the annual products now
amounts to ovef $4,000, 100000,
Therefore, one. half of one
years products or six and
one fourth. per cent Of the EN-
tire property Of the people, would
pay off every cent of this much mag
nifed debt! Not a very heavy mort
gage surely. When the Sultan of
Turkey first saw an American loco
motive whizzing through the coun-
try, he reverently threw up his
hands and exclaimed, ''Alla is great,
but the Yankee is greater! and so,
though onr debt is great, Though
we seem aptto forget it, our resour-
ces are greater.
In view of the foregoing consid-
erations, together with the 9th er i'm
portant fact, that our already great
resources are increasing at the rate
of over twelve per centum per an
mum, Notwithstanding we are so
'sg, ound down and eaten up by tax
alton" as the Democracy tell us, why
do we have-or why do we tolerate.
SO much scheming, vacillation, and
prevarication, concerning the mode
of paying this debt?
1t is plain that it is just, and that
we are abundantly able to pay it,
Therefore, the only question an
honest man should ask, or tolerate
in regard to it's payment, is. when,
and how, did we agree to pay when
we contracted it. This question be-
ing answered, he should insist upon
it's payment accordingly, to the last
penny. For accurate information
upon this subject it is only necessary
to examine the laws OF Congress,
and the reports of the Secretary OF
the Treasury. Therefore a man
who can read,and especially a pub
lie Journalist, Or politician, cannot
have a just excusefor even ignorance
much less for misstatement Of the
facts pertaining to this question.
And by the contracts under which
this debt was incurred, when and
how is it payable?
Without going tediously into de-
tails, the answer is as follows. 81,
167S, ,SO6, ,961, 80, is in the form o1
bonds, falling due at various periods
from 1868 to 1904, payable in coin
and drawing interest also payable in
coin, some of it annually, but, chief
1 ~ semi-annually, some at five, but
/ principally at six per centum pei
annum. $574,964,S ,S55, consists
chiefly of what are known as 7 sc
and compound interest notes, al
maturing in 1867 and 1868. The
7-3O notes are payable in legal ten
der, but any time before they are
paid, their holders have the right tc
exchange them for what are calico
500 bonds, payable at any time
within twenty years after 1868, il
coin, and drawing interest payable
in coin, at six per centum per an
mum payable semi annually. Unit
due if not before exchanged asabove
these notes bear interest at the rat,
of seven and three tenths per centun
per annum payable semi-anhallv.-
The compound interest notes beaI
compound interest at six percentum
i per annum, payable with the note
when due, i'll legal tender. The bal
ance of this debt consists of variou.
items as treasury notes, fractiona
currency, temporary loans, indem
nitv bonds, ali finallyrayable in coin
without interest, at the pleasure o
the government, unless SURRENDERED
in the meantime by the holders il
payment of national taxes.
The bonded portion of this deb
was contracted upon condition tha
these bonds should be .forerer fire,
from any State or municipal tara
Tion.
Upon these express terms, wal
this debt solemnly contracted by th,
government-by the people-in on
hour of peril, when the most patri
otic entertained well groundes
i doubts as to our ability to ever pay
AN important consideration whicl
those perfiidious croakers calling
themselves Democrats, seem to en-
tirely overlook or ignore, in depre
eating the present good fortune o
the bond-holders, who risked wha
they dare not, and that which mel
usually regard next to life-thei
money-not upon the prospect o
profitable. or even safe investment q
the time, but to save the nation whicl
these insidious, grumb bling traitor.
were trying their utmost to destroy
and which they must have accom-
plished, but for the timely, and gen
erous aid of these patriotic credi
tors of the government, now 81
much envied and abused simply be
cause tickle fortune has unexpected
ly favored them.
JUSTICE.