Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1868-09-11
How Shall the Debt be Paid /?

\ ~ THE question TO be answered is not who created
the debt; nor how the debt was created. The
debt exists; that every one knows. How shall
the debt be paid ?the proper answer to this ques7
ton is what every one wants to know. f
The Democratic party points out the way to pay
the debt. The Republican party points out the
way not to pay il. This is exactly the difference
between the two parties on the debt question:
CHICAGO Times. - q
The Republican party in its platform
points out the best and most feasible way
to pay the national debt. Section 5says
that the national debt, contracted for the
preservation of the Union, should be ex-
tended over fair period for redemption,
and it Is the duty of Congress to reduce
the rate of interest thereon whenever it
can be honestly done Section 6 says that
the best way to diminish our burden OF
debt is to 50 improve our credit that cap
italists will loan us money at lower rates
of interest than we now pay Section 70
SAYS that the government should be adj
ministered with the strictest economy,
and that the cOr1uptions fostered by An
drew Johnson call for radical reform,
Section 3 denounces all forms OF repudia-
ton as o national crime, and declares that
the national honor requires the payment
of the debt according to the letter and
spirit of the laws under which it was con-
tracted. ,-..l.,o.
In the face of these plain declarations,
it REQUIRES considerable hardihood on the
part of the most mendacious and untruth-
full partisan journal to make the assertion
that "the Republican party points outno
way to pay the debt" . q Gga g
BY reducing the rate of interest from six
per cent down to four and a half which
the Republicans confidently expect to eff
feet, in the event of the election of Grant
and Colfax, there will be a saving of thir-
ty millions year in gold, and this large
sum Republican administration will de-
vote to purchasing and cancelling bonds.
The Republican administration will also
devote every dollar of surplus revenue
+ derived from taxation to the same purpose.
Suppose the latter sum shall be thirty
millions year, which, added to the
saving of interest aforesaid, will make a
fund of sixty millions to be applied in
liquidation of the debt. When sixty mil
lions of debt is paid off, there will he three
millions less interest to pay the next year,
and this saving can also be appropriated
to the sinking fund. In few years the
sixty millions of annual payment will
swell to one hundred millions from the
saving ofinterest, and the debt viii quick
ly melt away and disappear, just as did the
d6DJ Oh J1e heVOlutlOH anu Vi stile 5oCouu
war with England. This is the Republi-
can plan of paying the national debt.
Now, what is the method proposed by the
Democratic party? The Times says its
party "points out way" In searching
the Democratic platform we can find
nothing on the subject except this nd
Third. 8 Payment of the public debt of the
United States as rapidly as practicable, all mo.
neys drawn from the people by taxation, except 60
much ar is requisite for the necessities ofthe gov,
ernment, being honestly applied TO such pay,
ment,'s etc. 9f4
1t will be seen that this method is sub
| stantially the same, as far as it goes, as
that previously laid down in the Republi