Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1868-10-15

I'M fmpsmdlne .,Nfleasl nont.
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.. WNlkri.
We commend h ne attention NJ all
caplali.la and houdholdcra lhc follow.
INK cNimpls hom roccni lelicr ol
Hon Robert J Wslkcr Ne has
heretofore boon considered high nm.
thoiity in The Republican party he
writes 10 q friend 10 Philadelphia a.
followss
"You ask mo II Il is n fact that the
annual expenditures og the Govern.
ment have been increased. MS therein
stated, over iorty.six millions of dol
lars (slG, 1856, ,5j9) by an augmentation
to that extent OF the yearly interest
in currency Of the public debt since
tho Both Of April, 1865 answer
that il is an undisputable fact; and |
will add that from a careful consider
alton of the condition of the treasury,
IL is clear that this annual interest
will go on increasing. IL is possible
that there may be small reduction
of the public debt last month, but this
reduction, if made, will be in debts
bearing mainly no interest, or in war
claims withheld, whilst the debt bear
ing coin interest will be augmented.
That there is an increased yearly ex-
penditure exceeding forty-six millions
Of dollars since April 80, 1865, TO meet
the augmented interest as currency Of
the public debt is certain.
'"rhis is the true test Of our 6nan-
cisl condition, and to me it seems Ger
tain that nothing but total change
of policy will save us from national
hankrnnfny This change nf policy
must hd based upon a vast decrease OF
our annual expenditures. As recon.
mendcd in my financial letter of No
vember last, we must abolish the freed.
mems bureau re must recall the
armyfrom the South, and reduce it to
a moderate peace establishment; we
must terminate there the joint rule of
the negro and the bayonet, and slav.
cry and secession having been forever
abandoned, permit the Southern States,
in obedience TO the Federal Constitu-
tion, TO govern themselves as before
the rebellion.
"The fact of this vast increase of the
annual interest Of the public debt is
not disputed queslion-it rests on
transcripts from the booksof the trea-
sury, and cannot be denied This
item Of expenditures for the increased
annual interest Of the public debt, is
nearly equal TO double the entire
yearly expenditures of Mr.. Folks ad-
ministration before the Mexican war,
and nearly to its subsequent annual
expenditures, including the war and
heavy payments for the principal and
interest of the public debt.
"But even il we take the Both of
November last, the date of the last
annual report Of the Secretary Of the
Treasury, we find the increased annual
interest ia curreRcy ef the public debt
s26,574,3 ,329 from the 30th Of Novem.
ber last, 1867, to the 3lsl of August,
1865, being an augmentation at the
rate of three million dollars a month,
or thirty.six million dollars a year.
"At this rate of increased annual
expenditure, for interest only, on the
30th of November, 1869, a little over
year, this single item of yearly dis
bursements would reach sevcnty.two
millions OF dollars. 1t is clear, then,
that the Radical policy leads rapidly
and certainly 70 national bankruptcy,
and that nothing can save 'us but a
change of men and measures.
Let every bondholdcr take heed to
these wise uttcrances.