New-York tribune., 1868-09-10
THE NATIONAL DEBT.

SPEECH OF EDWARD ATKINSON OF boolON'
THE DECREASE OF sSO2, 100000 IN THREE YEARS
-nPORTANT AND INTERESTING FACr'
The following speech was delivered yester-
day before the Massachusetts, Republican Sla'e Noen
ton by Edward Atkinson OF Boston, gentleman "HO
an authority on financial matters
GENTLTMES: In short address prop1se, 10 JpaTiy AS
tbe honored Chairman Of our state Centta Noi'l,,eo
has well said, It's fiscal record needs no uoi'"'' ~
record 0f which we may well he proud. a., ,o..,,.
In speaking you shall pass rapidly % %oVSi "a s'o t G
but YOU will find all my statements NeIlneu III uo'"i' ~
'I is ay merit In the following analysis OF the ex-
onndres of The last three years can only claim the
@ d method npon which IL placed before you All
The data have been furnished ms Dy tne non, ', -, o.
Wells long since perceived That the stAemehI h co I'M
monIy accented as that of the maximum deDt o the
limited States was not which covered te laply VI
the Government the lst OF August 1900 " in"N' m
lions of dollars. - -. SOC.
knew this from the fact that the Manufacturing GOT
noratous with which / myself COhntctcu helu az
That date several millions Of dollars OF claims upon tne
Government through the contractors 20 whom we har ,
sod material for the tents and cbthng iOI lhe army Iol
which they then had been no settlement Ihese
were afterward allowed, and we TOOK our pay ~ % oV
notes most of which sold to the various savings pahs
of Massachusetts from whom we Hau poL'vmVu ~ 'io
money 10 enable to do the Work ana iuIhsh e gOs.
These noes were of course converted into $40 bonds by
the savings banks, and now form portion oI Tue uCpt
wcn 'gS eenbaes or in otier words substituting failed
paper bearing interest, for DEBT not yetIue tilo
ayowed purpose Of the southern wing OF the party VINO
at least may claim the need Of praise iorthe od aVowa
being 10 render the greenback vaueless ana thch 70 re-
I'm this scheme they are led by George H. Pcndeton,
and coyerty supported by Ilor4to sey moat u Dgtus R
now asserted by ms supporters that he has retracted ms
preyious that there IS substantial agreement
between himself and Peudeton as to what should De he
"'''' i''''' ms srGTEMESrs ARE OFFICIAL.
Ihave said that have been able TO make tho state
ments which included In TINS address Dy le au VI
INV friend David A. Wells Special Commissioner OF the
Revenue 10 whom applied in order that might nave
the force official statement 10 prove my POSITION
OF the value Of his official statement you are wen aware
No man stands hgherin the confidence otthe people, ana
no man deserves that confidence more. 4. 81. ,. ,,o
With single eye the truth he gives TO MS work the
force of an enthusiasm rarely to be found and hGee to
power and value OF every document that comes from his
For the use have made OF the figures which he has
given TO in answer TO my questions alone am am
responsible and desire that lac shall have cred Oi All
the facts here stated, and invite the Diane o those
who will charge me with perYertlnE theh 10 parry pur
The Democratic party fears the truth. and win make
Of Democrat in its true significance, which honor
and cherish and hope the day Is not lar on Wheh ~
shall no longer be prOstuted to the PURPOSES Oh party
which denies every principle Indicated by ITS name, and
which has been the party of de potsm ana oi op,slo
ever since came TO mans estate q party "h,ch nov
rests Of success upon the Ignorance O rs io
lowers and proposes 30 uausurate war. fraud ana VlO
lcuce under the lead OF seymour and Blair.
We demand peace aud an honest administration, ana
under the wise control OF Gen Grant these We viii have
CONFIRMED Mr.. BOUTWELL,.
also desire 20 say that did not fully realize the great
importance the force OF the statement OIL the realah
mum debt OF the United states, at given dae, un'i
read the speech OF the Hon George boutwell, upon the
funding bin IN when speech is compact statement sub
staualy agreeing with the exhibit am about To make
The condition OF active war terminated with the strren-
der OF the Rebel armies In APRIL 1865 but the condition
OF passive did not then Ccse nor viii II ceas" uil
every citizen of the Southern States shall be se under
the protection OF loyal state governments elected 10y lhe
ballots of an freemen freedmen not only fOn TIE
chains Slavery but from The fear of violence or Iraud
10y which they are now intinIdated.
WHAT DID OWE N 1855
The ascertaiued debt o the United states on the first
day Of APRIL 1863 entered upon the books OF the Treas
my Department. amounted 10 $2JCC.vJJ,0'i -Four months
lacr the ls OF August 1885, tie debt represented upon
the books amounted 10 $275GCo)5l aud the latter sum
assumed OF late 10 have been the maximum dvOt
OF the country az any one time.
But such was very far from being the fact These figures
represent only the OF debt actually entered upon
the books of the Treasury Department but there existed
at that time liability for Ncy large sum not then en-
tered but Tor which the Government was bound - much
as II the bonds had then been Issued liability since
recognized aid since paid.
At that time the Democratic party leaders asserted
they ma ~ that the
burden Of debt imposed upon the country ~ tho
tbrce thousand million dollars, and Tor once they
we're night the true liability OF the United states
c,uscd by tn, war which the DcnOcrauc party OF the
Sonth had waved upon the Government amounted 10 TIE
yeor lf5 10 the sum Of E2s JJ and since that date
the Republican party has paid over ts0JoOhuD OF one.
ouarter the principal Of the cntre debt Dcsue paying
the interest
WAS REDUCED.
in proof OF this statement et a. "s review the hnan
cial history OF the Government from NJ" 1902 90
lime so 1853 the close OF the last fiscal year. Pefod oi
three wears and three months OF quasi peace
| FIHsI As TO HtNLNbh.
rcccDfs from tie customs nave Dceh ~ Iollo"h