The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-09-10
The National Debt.
From The N. Y. Tribune.
Leaves the debt Of the nation s. 500 BOO ,8


The National debt is therefore two and a
half billions of dollars, though considerable
portion consists CT green backs, postal cur
rency, treasury notes, etc. etc., long since
burnt, lost at sea, or otherwise destroyed, so
that payment thereof can never be required
nor made. The fact that over twelve millions
of interest bearing bonds on which interest has
been stopped (the bonds having matured, and
the Treasury standing ready to redeem them)
are not presented for payment argues that
many of these have been lost also. But we
offset the lost greenbacks, ETC., against the
contingent liability to pay the $35, ,3l4,0OO of
bonds issued to Pacific Railroad Companies, to
secure which the Government has a second
mortgage on their roads respectively, and
consider the debt just about $2, 00.000000.
This is an increase of Sl2,079,S 1892 during
the last month"; caused as follows
BY paying Russia i'll gold for Alaska
By issuing bonds to the Pacidc Rail-
road Compan1es.............. lOl,OoO
Together 10 3OI OOO
Real Increase OF debi"............."..S Sl.71o S32
The California and the Omaha Pacific Rail-
road Companies are each working with all its
might to push its road as fast and as far as
possible before it shall be met by the other
their contract with the Government proving so
profitable that each wishes to make the most
of it. They will doubtless have met within
the year ensuing; but meantime they will
have required and received from the Treasury
some $50, 600 600 to $40, 600, 600 more OF these
bonds, which the Government must pay If the
Companies should ever default-as they surely
need not, and We trust will not.
The Russian bear has drawn blood this
month-$7, 200, coo in gold that we grudge
him, and do not think his icebergs fairly worth.
However that is done and can't be undone.
He mustn't do it again, and is not likely to try.
To be sure, there are St. Thomas, and Sa-
mana, and that unknown isle in the Indian
ocean, yet behind; but the Senate has ratified
none of these jobs, ,and Governor Seward can't
be Secretary of State forever. So we will hope
and trust that our real estate operations are
about over. (0l General Rosecrans please
don't buy any more of Mexico to run your
railroad over. Leave us our money wherewith
to pay our just and heavy debts)
The national debt was 81, 757, 600 600 over
and above all money in the Treasury on the
lst of August, 1865. Since that time, we have
paid off and mustered out large bodies of our
volunteers for the war; we have paid muster
ing out bounties to a majority of them; we
have paid many more millions to States for
arming and equipping their men during the
war and we have reduced our internal taxes
by more than one-half. We wish that reduc-
tion had been less rapid and less sweeping;
yet the present taxes will suffice if they can be
honestly, faithfully collected. This, after
General Grants Inauguration, they will
surely be.
Hitherto we have been paying extra interest.
Mr. Buchanan's administration borrowed at
tW-ly- -.r esnt, to exc out its miserable exist