Gallipolis journal. [volume] (Gallipolis, Ohio) 1837-1919, 1868-09-17
From the New York Tribune.l
Do They Mean To LieI

A lie is an assertion made with in
tent to deceive. Do or do not the
opponents of Grant and Colfax ha
bitually make such statements with
regard to the National Finane es /?
We make no charge, but state facts,
leaving conclusions to be drawn by
others.
The World editorially says:
"In 1865, thepublic debt was 3d.
423, ,43T ,O02 Is. In 1868, it is 81
643, 256, ,2S5, an increase of S2l9,.
Sl9,2 90. Let US have peace"
Is that true?
The Secretary of the Treasury
officially states the total apparent
Debt on the lst inst, at 50, ,643. 1885,
2S5, but adds that the cash IN the
Treasury amounts to Sl0I ,641 ,97l;
which, deducted from the above,
leaves the actual Debt 50, ,535, ,6l4,-
313. Need we argue that the money
ought to be deducted to ascertain the
true amount of the Debt? Here, for
instance, are some S25. 100000 of
Certificates of Deposit of Coin. In
dividuals are allowed to deposit
their gold in the Treasury, drawing
no interest thereon, and take Certlfi-
Gates thereof for convenience in bu-
siness. !. Is our Debt increased by
the sum of those Certificates, when
we have the gold ready to redeem
them on call? Is our Debt increased
by the amount of the Greenbacks
now in the Treasury If we owe
them, is it not to ourselves? These
questions admit of but one an
swer.
Again: We have lent to the Pa.
cific Railroads bonds amounting to
S35, ,3l4 900. The Railroads pay the
interest thereon as it accrues; they
are to pay the principal when due
and the Government has second
mortgage on their respective roads
to secure such payment. Even i
they were to fail, those roads will
add many millions not merely to th'
taxable property and income of th'
People, but to the revenues of tn,
Government, by stimulating settle
meDt, production, &c, in the centra
region of our continent, hitherto
hardly accessible. With what rea
son is this contingent liability added
to our War Debt? Yet, without it
and deductlng the cash in the Treas
ury, our National Debt is apparent
| ly $4,000, ,300,3I3, and really mucl
less, because of the Greenbacks
Postal Currency, DC, &c, whicl
, have been burned, lost at sea, o
otherwise destroyed, so that the,
never can be presented for pay
ment.
But the World says the Debt wa
but 50, ,423 ,437, 002 sin 1865" Il
chat part of 1865 =? This is a peril
nent question. OF course, ther
may have been some time early il
: 1865 when the ascertained, liquida
ted Debt was no more than Is state,
above. But Richmond did not fal
till April of that year, and Lee
surrender dates from the 9th of tina
month. Johnson's, Dick Taylor s
and the other Rebel armies, surrer
dered at much later day. TIL
bloody affairs of Five Forks, Ber
tonyille, Averyboro', Mobile, Sc
, ma, &c, &c, all occurred in 1867
and our armies were not mustere
out ard paid off till about the middl
of that year-part of them not ii
near the close of it. Secretar
; Mccullough officially reported til
Debt, over and above the cash in til
Treasury, as follows:
July 81, 1868, Ss.757, ,253,275
! Sept. l, 1865, S2,757, ,6S9,571
, 1t is now S257. .OO0,6 less, afte
paying $4,000 in gold for Alask'
, unless the Treasury is charged wit
, the contingent liability for buildin
the Pacific Roads. And why shoul
it be? That is not money spent i
q war and 80 sunk, but a guarantee
secure the construction Of work
which must add vastly to the wealt
+ and pIosperity-consequently,
, the tax paying ability-of our PEG
v pie.
, Do the Copperheads mean TO d.
Z ceiye with regard to the Nations
Finances Compare their stat,
/. ments with ours, and judge impal
. TALLY .