Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-10-16
FROM WASHINGTON.

The National Debt Increase Letier OF Hon.
HObt. j. Waiker-Chanse Of FiuanciaI
Policy or National ptcy-P1Iiti-
cal Ne y s-Csmitia (GeoTgiN) 1stot Report
WASHINGTON, October T.--Au extract
! from letter dated Washington, October
6, 1868, from Hon. Robt. J. Walker, late
Secretary of the Treasury, to friend in
Philadelphia. is as follows '' In reply to
your inquiry would say that the table of
the public debt of the United States at
the variOns periods referred to IN the Ma
tional lnt"lligencer Of yesterday morning
is accurate il al respects, having been
taken from the books of the United States
Treasury
"You ask me if it is fact that the an
nual expenditures OF the government have
been increased, us therein stated. over
forty-six millions Of dollars ($46, O56, 559)
by an augmentation to that extent Of the
yearly interest IN Currency Of the public
debt since 3Oth April, 1865 answer that
it is an undisputable fact; and [ will add
that from a careful consideration of the
condition of the treasury, it is clear that
this annual Interest will go on increasing
It is possible that there may be small re-
duction, if made, will be in debts bearing
mainly no interest, or in war claims with
held, whilst the debt bearing coin interest
will be augmented. That there is an in
creased yearly expenditure exceeding for
ty-six millions of dollars since April 80,
1860, to meet the augmented interest as
currency as the public debt is certain.
''This is the true test of our financial
condition, and to me it seems nothing but
total change of policy will save us from
national bankruptcy. This change of pol
icy must be based upon q vast decrease of
our annual expenditures. AS recommend
ed in my financial letter of November last,
oh t1a -
must recall the army from the South and
reduce it to moderate peace establish
ment we must terminate there the Joint
rule of the negro and the bayonet. and
slavery and secession having been forever
abandoned, permit the Southern States
in obedience to the federal constitution, to
govern themselves as before the rebellion.
1.-The fact of this vast Increase of the on
nual interest of the public debt is not
disputed question--it rests on transcripts
from the books of the treasury, and can
not be denied. This item of expenditures
for the increased annual interest of the
public debt is nearly equal to double the
entire yearly expenditures, of Mr.. Polk's
administration before the Mexican war, and
nearly equal to its subsequent annual ex-
penditures, including the war and heavy
payments for the principal and interest of
the public debt.
But even il we take the Both Of No
vember last, the date of the last annual re-
port of the Secretary Of the Treasury, we
find the increased annual interest in cur
rency of the public debt $26, 574, ,329 from
the 30th November last, 1867, 10 the 31st
of August, 1865, being an augmentation at
the rate of three millions of dollars q
month or thirty-six millions of dollars q
gear.
cat this rate OF increased annual ex-
penditure, for interest only on the 3Oth of
November 1869, little over q yerr, this
single item of yearly disbursements would
reach seventy-two millions of dollars. 1t
is clear, then, that tho radical policy leads
rapidly and certainly to national bankrupt
| cy, and that nothing can save us but q
| change OF men and measures.
Gov English was in this city oday, and
called upon the President. Gov. English
says the vote in Connecticut on Monday
| last, as understood in that State, is favora-
| bic to the democrats, and that Connecti-
cut will certainly give largo majority for
Seymour and Blair
| A letter from the Republican State Com
mittee of New York to fIr. Franklin, dep
uty naval officer of New York city, dated
September 2Sth, 1868, has been sent to this
city. The committee demand of the na-
val officer three thousand dollars to aid in
conducting the campaign for the radicals
| The report Of the Camilla riot, based
upon affidavits procured at the sugges.
tion of General Meade, has been received
by the Secretary of War, and copy will
be furnished the President in a few days.
The character of the report, swhether it s1ls-
tains or makes against the negroes, has not
transpired. DATA.
|