The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1868-06-17
Our Financial ExpiOIts-GeId
vs.. (srPPnbacsH

There is one thing for which The country
is under great obligations that is the month
y report of the Secretary Of the Treasury.
1t discloses to Us, at the frequent inter, al
Of e' cry thirty days, the financial exploits
of the Government snd tie policy il has
pursued in the relieving itself of monetary
embarrassment. The report for May is
particularly iuteres.ins We han give !; in
brief.
Gold debt increased S57 . 5'pJ
Seven ;hirties rednccd.............. 6S 0lS, $50
Coinpound-ineTcstn nutss rednced.. 10 al, Tl0
| Coin in the Treasury incrcas,d..... 1861 .09S
Currency docreased...... .....,... II, l0i 9s3
| Tie total result, therefore, of our fuanci
Al operations far May is to add about three
snd talf uiliions Of gid interest to ouy
annual indebtedness Our currency bear,
ing interest deb We have reduced in about
the same proportion. The object Of the
Secretary and cf tbs Radical Congress- is Il
take up as "a, a. possible all the debt that
bears no interest, and all the debt that bear!
currency interest, and convert IN into a gold
bearing interest, debt, which interest i!
about forty per cent. above what she inter
est would be in currency. There is Gnauci
al talent for you.
But this is not all, The Trca'ury hal
nearly sl7, ,0o0, 600 more of gold this montl
that it had last month. Many people woult
have supposed that it would have been bet
ter to have taken this seventeen millions
that is now laying idle in the Treasury
drawing no interest, and employed it in tax
| ing up 6ve>twenty bonds, upon which VI
are paying SIX per cent gold interest. Their
would have been in this lite trans ctil1
saving of million OF dollars in gold year
in the shape Of il tcrest on The bonds. Bu
such an item is not thought to amount L
any thing by the Radical fnauciers in Con
gress, who cont.ol the Secretary nf th
Treasury. While we have got sixteen mil
lions Of dollars in gold IN the Treasury NOR
than we had last month, we have called i
and burned up over eleven millions Of dol
lars in currency, that was costing the Gov
ernment no interest whatever. But mnnr
was thought to be too plenty now by tn
wiseacres in Washington. and hence the
have adopted this policy OF making 1t seal
Ger, and producing stringency in the time:
The points Of our National financial polic
may be briefly recaaituloted as follows;
i. Increase Of the gold debt, and golc
interest upon it,
Q. Extinguished al Indebtedness tha
draws no interest, or is payable in currency
3. Accumulate an enormous amount
| gold in the Treasury, to be kept idle, an
for which the Government receives no IL
terest.
4. Cali in and destroy the grcenbaeks,
order to make money tight, with its corre
ponding correlatiyes Of depressed busine:
, and hard times.
This, we repeat, is the policy at Wasl
, ington 1t is the poicy of the Secretary
the Treasury. 1t is the policy Of the RAT
, ical Congress, which, by law, has autholi
cd the Secretary to adopt it. 1t is Il
, policy of the Chicago Convention whc
nominated Grant. 1t is a policy to impo
erish the country. 1t is policy that
opposcd to reason and common sense.
is a policy which. il il was rur ued by
. private individual, in the management
an estate, as guardian or administrato
Wnun JlStlY IN" WaraS UT heiIS III Icsor!l'
70 legal proceedings to stop such sqaande
ing of their patrirnony. An individual WI
would manage his own estate in this MA,
ner would be considered fit subject for Il
lunatic osylum.
Our National affairs are now being ma
aged for the interests of privileged few
, They are managed in the interests Of go
rings and stock iobhing thieves. The
is no use mincing matters, or OF rofrainil
: from calling them by their right names.
& is simply an elaborate scheme Of v:llai
and public plunder.