The evening Argus., 1868-08-06

democracy have now to meet. What 1t mOy
be next year, will depend entirely upon rad
ica successes this fall and the extent Of theii
vilainy if again fixed in power. We car
however safely assure them that if they dc
20 on and fund this debt, according 10 the
vilainous bill which passed at the last hour
of congress, by which this rump makes a
clean gift Of $500, 100000 Of the peoples
money, It witt ultimately be Reputation.
The battle so far as the democracy and peeo'
pie are concerned will be fought out on the
principle Of equity and no matter what
gifts or vested rights purchased directory
may assume to confer upon bondhoIders, tne
people will return to first principles, aud dis.
| charge their Indebtedness according 10 the
bond. But to the question OF imitation.
suppose the same pbase oi 'he question
| had been involved last year as TINS that
congressman and president had been
| elected by the democracy, ana carried out
the principles Of their present platform, and
began the redemption Of 5.2O's in green.
lacks, on the first Of last January, that there
| woud have been no initiation, is proven
| by the figures
According to Mr. McCulloch's statement
for october, 1867, the national debt in
round numbers, stood as follows:
Five per cent gold interest bonds
rcieemable at the pleasure Of the
government after ls74......",,.," 5000, ,OOO, 600 |
six per cent. gold interest, bonds
payablcin in l8sl..........",...o.. 100000, 900
Six per cent gold interest 500
'''...,'...... I,ZVO,VVVUOV
Currency interest notes aud bonds 100000 600
!
Total interest bearing debt $4,000, 900, 900
Greenhack fractional currency, &c $50, ,O0O, coo
Total asrcrtainod debit. 81, $50, 900 900
Oftho above, $500, 100000, according to
the letter and spirit" cannot be paid until
I-5L and $500, ,00g 900 until 1851. The re
naming : :I,IO0,O0O, 900 may be paid imme.
iatrv and within the next five years. Sup.
,ose, We repeat, the issues last year had
Dccu The same, aud the democracy had sue.
eedrd 70 the government and began to
AIRY out their platform on the first day Of
.st January by calling in the National
ank currency and paying off the $lOO OOO,. !
DO 5.2Os, by which it is secured. On that !
ay We would have reduced the debt from !
! 200, 100000 to l,300,000,0OO without
idIng one dollar to the currency, and re-
lced taxation S2l.OOO,000 year, or if
'pt at the same rates, have had that sum II
apply on the balance Of the debt. G
The democracy would have dispensed g
nh the Frecdmans Bureau, military gov.
nments, speculation in Indian wars, and
cry eXtrayagauce 80 necessary to radical.
n, but so repugnant to democracy, and
ought the curren; expenses of the govern. y
ent down to 500, 100000 year. +
In adopting this principle Of democracy /
eturning to n specie basis,) they would
so, we may safely assume, have followed
1t another principle of their creed, and re.
Icrd the radical prohibitory tariff, say $IO,- 1
10000 Il year, and thus relieve the consu. h
rrs and RrriculurIists Of the west of tax {
that extent annually. Upon this basis u
e proceed to figures. We also assume
lat internal revenue receipts shall remain
t S3oo,00j,OU0 annually Further details
ne found in the tables Taking the state
leut Of money ia tue treasury, receipts /
rom customs, internal revenue, &c, on the /
rst Of January last, We could have began
he liquidation Of our debts ~ follows: