The Manitowoc pilot. [volume] (Manitowoc, Wis.) 1859-1932, 1868-09-04

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nary printed at Wantoma il this State,
publishes the following article under the
above heading :Ilsa 8di besls4sBf ssd s9sga
The Democratic papers, and Democrat
ic speakers, claim that the public debt is
cousa antly increasing, aud that unless they
are placed in power, the countrg will 20 to
ruin. The Manitowoc Pilot, inca recent
issue, claimed that the national debt on
the 6rst day of June, S65, Has only 81 -
GAS, ,205, 1853, andthat it has been increased
during the past three. years 81, ,547,8l3 2saI
s''NOW the truth Is the national debt ON
the first dny Of June, l865--just after the
close OF the war--was Learly three Jillions
of dollars. and, instead of increasing, D it
has been diminished more than fifty mil
lions of dollars eyery9yeal. nsa1 a'a9ag sd;
TThe following statements taken from
the official reports Of Hon. Hugh McCul-
loch ,. Secretary Of the Treasury, and may
be found in the Internal Revenue1 Record
OF Septem ber 9Th, AS66,1e page Ji73,l and
August 10th, 1868, page 53:I Is q glupo9
1.-The total debt on the FIRST day ct Ahg-
ust, 1866, was S2,757 ,4I6; COS. SO. e The
total debt, less cash In the treasury at that
time,i Nas 81, ,6a3, ,099, ,246. 80. The 1total
debt on the first day of august, 1868, was
$2,633, ,56S, I56.Slg The total debt less
cash q treasury at that timey was 50, ,623,s
534, 4Se. 81; showing "a 0 decrease in the to.
tad debt for two. years from. August LIST,
1868, OF SI06, S27, ,S5248l; and of the debt
less cash IN the treasury, Of $l09 ,564s i 65.-
H.m rr8; s7om 8ij1l 5nsaaTGaq glIe97
when Democrats claim that the public
debt Is increasing, just refer them to these
IS Is So
= Passing by the fact that the Pilot has
made no such assertion as that attributed
to it, We proceed to enlighten the Argus as
to what we do claim The public debt on
the; 3lst day OF July, 1865, was stated by
the secretary of the treasury to be, in
round numbers, S2.757 900. 900. On the
lst day of August, 1868, it was stated by
the same authority to be $2,633, 100000
During the intervening three years, there
was received inithe treasury, from internal
taxes and duties, the sum Of ST. ,594, 100, 600
This is not all that the people were made
to pay for the prodigions amount of steal
ipg by corrupt revenue. officials is not in
clnded in the sum- The sum name . is
the amount Of money actually paid into the
national treasury during the threef years
ending with last July. n. Aud; 'owith this
vast revenue, the secretary was able to re-
duce the debt only 1924, 900, ,ooo.' Leaving
81 ,470, 100000 as the cost of the govern
meut during the threeNyears Of Jaeobin
rule since tie last rebel army surrendered
and the national volunteers were paid off
and sent home. Shall we, ever pay the
debt if this thing be continued? 4 Every
thing tends to prove the utter hopelessness
of getting rid of the debt if the bonding
interest be continued in power. When the
debt was So, 757 ,0o0, 900, gold was at pre-
MUM in lawful money of only o5 cents in
the dollar. Now, when the debt is So :
633, 900, 600, gold is at premium Of 45
cents in the dollar. There is nothing At all
surprising in the fact One billion five
hundred and ninety four millions Of dollars
of revenue received, and only 1924, 600, GOO
of debt paid, tells the whole story. A ma,
ton whose entire property, Of every imag-
Unable kind, is only $4,000. .OcO, 600
which receives a revenue of 81, ,594, ,O00, ,00O
In three years, and spends sE,47O, 600, ,0oC
Of the amount in carrying on it's govern
ment, can hardly be expected to maintain
its credit on a debt of near three billions.
viii the Argus please refer its readers to
the above figures. 2sao - ah.ss ya'si