Council Bluffs bugle. [volume] (Council Bluffs, Iowa) 1860-1868, 1868-10-15
MERE IN TIE Esnamee Dmssu

tfoms =
Hon. 4. !. Walker, whose ..iosat
" 2 we presume, 10 Radical will
" has pubiislea AN artiae
complied from the beois OF the De-
partment with the appsohssioa Of
the Secretary Of the Treasury. Its
authority and accuracy ID. veuche<s
for, 10 II contains no oonjecsures or
estimates, but only recorded facss
In renaaxking upon 1t, the Eatsogat
LaEailigescv Says
+Frogn this table Il appears that
our debt en- tho 3ist 0f August vas
greater hy over $3.50, 600 600 than On
the Ist of April, 1865, the subssauent
rate OF increase exceeding "a, 900 Goa
q month, or nearly 81, o0e, sOU
year, m
1.-THE debt Ia greater by over thff.
ty-dve million dollars than on the
asf Of May last. being thirty-fvs
million eigflty-fise Thousand four
hundred and eighty six dollars. On
this basis the yearly rate of increase
of debt would be over one hundred
and fifty million Of dollars. If to
this annual rate OF Increase we Add
interest at the rate OF six per cent. .
year, compounded annually nr
twenty years, the debt, instead of
being paid, would be more than
! double, and would largely exceed
i've thousand millions of doIlars.
The AonthIy increase Of the
debt for four months pass wss at the
rate of eight nillioa seven hundred
thousand dollars per month, and in
August was upward of twelve mil
lions. This increase, 1t should he
noted, b duFing the great quarter
when the average rate of revenue
| from imports exceeded about one
| third the rate for the fiscal year.
mBut this table exhibits still more
alarming fact, that while the deR
bearing Interest In currency had de-
creased ON the 3tst or August last
Se29 ,94sl, 72s from the :3ist of March,
| 1865, the debt bearing Interest in
coin had nearly doubled, having In.
/ creased on the 3Ist of August Last
| 1906, 49,, sos since the 3lst of March,
1865. Thus on the 30th OF April, 1855
the annual interest payable in coin
was only $63 978, 4HA, while on the
3lst OF August last this annual coin
| interest had reached $i23, 573, S2l the
| increase of annual coin interest be-
ing $5 ,959, SO.
Nov, the total annual Interest
on coin and currency, as shown by
the table, was $Ifl2, Ssfi, ;5s3l ON the d
/ of March, 1865, and $lz5 BIS, gil Oh
| the 3Ist OF August last, showing al
increase in the annual interest psiya
bic in coin and currency On the Bis
of August last OF $25, ii2,0s3.
"But this, as is shown by the tabl
| is not the only real increase. Thu
we have seen that while on the 3ls
of April, 1865, the annual eurrene
interest was -, I27 1856, it had fsile
ON the 3lst Of August last, to D, 20 1,
800, while the annual coin fnteres
had increased nearly $50, 600. 600
The account would then stand thus
On the Both of April, 1868, coin in
terest converted into currency, So
AIS, 4Si /; currency interest at thu
day, $I,127, 1916, /; total annual inteI
J est i'm currency, sI3s, 727, lit. On til
3ist of August, 1868, coin ffltere.
converted into currency, $3.50, 4fS
$50; actual currency interest, "a 81
/ 800. Currency Interest 3ist OF Al
/ gust. 1863, SIsf, T922, Ei7. Currenc
interest after the eiose N the wn
3lst of April, 1860, $l3s, 7sbi, 4sS IL
creased interest," 3ast Of August, Isl
| S46, 1858, 550.
Titus we see that since the cl0>
of the war the annual interest Of tn
| public debt has increased upward
of forty six million dollars. Thi
i increased annual interest would ri
J resent pFiiscipai AIM excetxIin
seven hundred ;fsd fifty million do
I iars.p
I Now we submit this Radical tes
! timousy for the consideration of tn
public generally and the SonpG~
| Ii, pal tieular, asking only that tia
paper give publication to the fnar
cial statement of AR. Walker, VIII
nj one time was spoken of by tn
Radicals AZ q proper person for tn
position now held by Mr.. McCulloc
as Secretary OF the Treasury. "
have no comments to make upo
this Radical testimony. Let ali rea
and judge for themselves, for out {
their mouths are these Radicals coz
iemned.