The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1868-08-01
AN ExPENsixE VETO


Mr.. johnson, following the counsel Of The
Democracy, has announced his purpose to
veto the Funding Bill.
That will be an expensive veto. Let us
see somewhat Of its cost to the people.
The amount Of the national debt Is about
S2,5l7 900, 900. We will deduct from our
estimate Sill 100000 for the Pacific Rail.
road bonds and other items OF the debt that
could not be funded at the rates proposed.
That will leave. in round numbers, 81, 400
0oo, 900 as the debt to be funded, This debt
bears different rates Of interest $780, 0o,>
900 OF It, due in 1867 and 6s, bore interest
at the rate Of 1910 per cent We may
average the interest paid on the whole debt
at CD per cent The Democracy figure il up
SO as to make the interest that the Govern
ment is paying eight or nine per cent. But
we will assume that it is 81. Congress in
the Funding Bill proposed to fund the debt
in 10 year bonds at per cent. There would
have been a saving in interest OF q per cent.
Mr.. johnson, BIZ his veto, says that interest
shall not be saved that the people shall con-
tinue TO pay 81 per cent. The Democracy
enthusiastically sustain that veto. That
veto-this measure of Democratic policy,
then, will cost the people. sixty millions Of
dollars yearly sum equal to the whole ex>
peuse Of running the Government before
Buchanan.
0rif, as the Democracy claim, the people
are paying from s to 8 per cent on the debt,
then that veto will cost the people more than
one hundred millions of dollars year.
Tax PAYERS, bear ii in mind that Congress
and the Republican party tried to save you
that much in yearly taxation. Remember
that Andrew johnson and the Democratic
party by that veto fasten that additional
burden upon you.
BLAIR FOR PRESIDENT.
Hon. Isaac n. Morris, of Quincy, has writ.
ten letter TO Gen. f. p Blair, anticipating
that if the Democracy are successful Blair
will be Pesident. He wants seriously 10
know what in that event. Blair policy will
be- In the commencement Of his letter he
thus gives his reasons for writing to Blair as
he does
SIR: a few days after the nominations were
made by the Convention which assembled in New
York the It'll instant. | had a conversation in
Washington City with General Gushing, vf Massa-
chusetts in which that eminent jurist and politi-
clan said:
'srt4e simple question 10 determine n Tie elee-
ton is, shall General Grant or Frank Blair be
President for the next four years for If Seymour
i elected he will not live Gar
The announcement, | confess, startled me.
knew General Cushing's intimate knowledge of
Governor Seymour and that he never INDUCED in
an Idle remark. | had also heard it frequently
| Stated that the Governor had declined the aeeep-
| lance Of public places in consequence Of failing
health, but | had not supposed there was any
cause for serious apprehension in regard to his
physical or mental condition. Recently Develop
ed facts, however, and the sober deliberate opinion
| of those who know him intimately, render il not
only possible but probable, that in the event Of
his aud your election the responsibility Of admin.
istering the government would soon devolve rpou
yon.