The Carson daily appeal. [volume] (Carson City, Nev.) 1865-1870, 1868-10-06
OUR PUBLIC DEBT as CONDUCTED
UNDER A DEMOCRATIC ADMINS
TRATION.

brassy fa!sifcations of Democratic ora
tors and writers are made to convey
the impression that owing to the blum.
ders and corruptions of The Radi.
GALS" the nation is burdened with q
debt as large rs it is unnecessary. For
tunately the people cannot be misled
with regard to the cause of the debt
which was a rebellion waged by the
Democracy of the South and sustained
by their Copperhead allies Of the North
neither are they to be deceived by
the misstatements of those who favored
the creation of jeff. Davis Treasury
while attempting to beggar the Treas
ury which sustained the Union arms
during the war. But in this connection
one historical fact is to be remembered
1t is, that during Buchanan's admins
tration, when Howell Cobb, (who was q
rebel Brigadier General during the war;
was Secretary of the Treasury, he so
manipulated the financial affairs of the
Republic as to make it impossible to
negotiate loans at a less rate than y
per cent and that by reason of this.
the loans effected by the Government
in the early part of the war involved
the payment of interest ranging, in
some instances, as high as 81 per cent.
the later six per cent. loans being
made while the war was at its hight
as was also the patriotism of the coun-
try. The Hon. F. E. Spinner, Treas
urer of the United States, (whose name
is known to everybody who has ever
seen a greenback) furnishes forth the
interesting statements of fact:
Howell Cobb, formerly Speaker of a Dem
ocratic House of Representatives, late Brig |
adler General in the late army of the late |
Confederate States OF America. and then
Buchanan Secretary of the Treasury, car
red these securities in his carpet-bag in
blanks to the city of New York, and after
slandering the stocks, traducing the credit of
he Government, and announcing his opin-
on that they never would be paid, but that
ne must have the money for them at any
ate, offered them on the market, and then
illed up the interest blanks at such rate as
lis political friends chose to ask him to in
;ert. Most of them were paid in gold, with
he stipulated exorbitant rate Of interest
added. after l came into this office, and
,fter the war had began, and when, notwith-
standing all this. the Government was then
obtaining loans at six per cent. per annum.
This loan was made, too, within a very short
ime after the same honest Democratic Sec
etary of the Treasury had been using the
unds in the Treasury, intended for the cur
ent expenses of the Government, in buying
,p in the market the six per cent. bonds Of
he United States, that had then many years
o run to maturity, at about twenty per cent.
boEe their par value. Think of it. He
fought the immatured SIX per cent. stocks at
20, and Immediately thereafter in appar-
mt time of profound peace, and when money
vas abundant, sold securities receiving par
nd STIMULATING to pay at the end of one
ear ll2.
Was Cobb fool. think you:
Not at all he knew exactly what he was
irving at. He was already at that early day
traitor, and hoped. by his rascally man
cement to so cripple the resources and de-
lnge the finances or the Government III
hose service he then was, and whose inter-
st and honor he had sworn, for pay, t.
rotect, as to make secession easy and sure. l
his man, too original " carpet-bagger, is
ow, as he was then, a leader and a shining
ght in the Democratic party. But this t
as only a part of the great conspiracy. l
While Cobb was accomplishing this, hi i
reat financial achievement in the interest OF S
lie coming rebellion, Thompson, then Sec v
'tary of the Interior, made away with the a
ldian amnesty trust funds belonging to c
e Government Floyd, Buchanal's i'm T
acula.e Secretary of War, robbed the t
Ortbcrn forts and arsenals of the arms and e
unitions of WAR and transported them South b
be used against the Government and for il
destruction, and Toucey, the then Seere- p
~ Of the Navy, a specimen brick of Con- f;
.cticut Democracy, fearing the loyalty and p
.triotism of our naval commanders, or c.
red cur vessels of war to unheard Of
aces i'll far distant seas, where they could
no possibility be needed, but where they
,uld be beyond the reach of recall by the
overnment in the day OF its peril. This is
e party and these are the men that now s.
nvass and so licit the votes Of an out
ged loyal people. Really, their former
scality is outdone by their present inpu- b
nee. o,