The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1868-08-15
NATIONAL DEBT INCREASING !!
$32, oao, $50 Increase Since the warl
e47l,sOO, 900 Internal Revenue I'm.
sufficient Under Radical Rule.

Secretary McCulloch's monthly statement O
the public debt at the end of July is just pub
lished. 1t shows another increase of the pub
lie debt of about $13,0OO,0OO. One year ago
Secretary McCulloch reported the public debt
less cash on hand, to be 2,4s1 ,5O4,4 5O. His
statement just published show it now to be
Ss,52S, 534 $50, which is an increase of $780,,
OSo,O3O during the past year. The statement
shows not only this fearful increase in the
principal Of the public debt, but that, through
his contracting operations, by funding non
interest bearing Indebtedness, the annual
interest on the public debt in the last three
years has been increased some $20,000,00O,
which is equivalent to an increase of nearly
S4OO,OOo,OoO Of the principal.
This increase of the public debt during the
year has taken place in the face of the fact
that during the same year the public revenue,
collected from the toll and sweat of the peo-
pie, has been $471 100000
The Treasury statements show the annu al
interest ON the national debt to be, in round
numbers $4,000, 900; pensions about $780,
100000; so that our radical congress has ex-
pended, during the past year, over $500, OOO,-
600 to defray the ordinary expenses of the
government Expenses which. under the last
four years of democratic rule, averaged but
$57,0O0,000 year.
What becomes of all the money? $780,
100000 to keep up an army in tlr south to
secure the vote Of the rebel states fH the radi-
cal candidate for the presidency; 100000, 900
to maintain the freedmen's bureau, political
machine, designed to support the negroes in
idleness until they can help to vote in another
radical President; $5O,tOO,OOO to cover rob-
berries and peculations,- SO on.
How much longer can this endured -Four
years Of peace, with an average annual revenue
of nearly 100000, and at the end of them
an increase of over s32, 900 of the national
debt! The country is rushing headlong to
bankruptcy! Our credit is worse now, by 20
per cent, than it was at the close of the war,
and gold still going up How much longer,
at this rate, can universal crash and smash
up be averted2
The Democratic party ask the votes of the
people for Seymour and Blair on the solemn
promise and pledge that this runous condition
of the public finances shall be remedied and
they show how it can be done. The army ex-
penses can be cut down from S15O,OOO,O0O to
s25,Oo0,O0O; the $40, oOO 900 for the treedmen's
bureau can be Topped off the public debt
can be cut down $3OO,OOO,OO at one stroke
by retaining in the government, instead of
giving to the banks, the franchise of issuing
paper money, and thus $30,OOO,0 900 more can
be saved. Extravaganza and peculation can
be stopped, the revenue machinery reformed,
and SO on 0d infnitum.
Under Democratic rule, whatever may have
been the sins of the party, it never wasted the
public revenues. Ruin impends over the land
now solely from its disordered finaaces Shall
the present system go on, or shall the people
give the democracy a triall