Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1868-06-19

other half, his income is taxed all the
same and 8 thousand dollars is the ex-
emption for all men alike, no matter
what may DO the expenses of living.
The evil day may be postponed for 3
time; but the sure result Of the present
condition OF things must be financial
convulsion, and probably reputation.
We take the following more precise
statement from the st. Louis Repu6li
can
The statement made by Secretary Nc
Culloch Of the public debt Of the United
States on the frat day Of June, 1868,
shows the total debt to be q, 643, 753, 565
At the same time there was ia the Treas
ury $50 228, $50 in coin, and SAB 279, l20.
Total ia the Treasury of Sl33, 507 ,679.
| Deducting this from the debt g ven above,
shows an absolute debt of 81 80 ,245 $50.
| For all practical purposes, however, the
| larger sum, s., 643, 753, $50 is the real debt.
| The amount in the Treasury does not go
at all to diminishing the indebtedness.
| The large sum Of thiTty-t,0O millions Of
! dollars in gold must be taken from the
| Treasury to pay interest on the five
| twenty bonds during the present month.
Then there are large acquisitions from
1 the War Department, which it was con-
/ templated would be made in May, which
were deferred till this mouth, that must
come out of the amount in the Treasury.
! Itappears that, instead of the enoT-
nous debt pressing upon the country
being in process of diminution, 1t is in
creasing. The total de5t, less cash in
the Treasury at the close of April, was
So. 500 52S 1927. At the close of May ii
was 81. $40, 245, $50, showing an increase
in one month of s., III ,059. Or il we
take the actual debt, irrespective OF cash
in the Treasury, it was 81 639, 6l2, 622 at
the end Of AIril, and 81, 643. 753. 566 at the
end of May, showing an actual increase
of 81, l40, 944 in one month.
Or the crushing debt resting upon the
people, to meet which the large sum OF
one hundred and .fOrty-yliae millions o.
dollars must be paid annually by the
people to meet the interest, 81 ,494. 1856.
800 is 10 five-twenty bonds. In addition
10 this large sum, there are two other
classes of six per cent, which, with the
navy pension fund, bring up the total
debt bearing coin interest to the sum OF
g, 020, SOS, Sal, upon which about $780,
249, $40 is payable annually in hard gold,
This the people are heavily taxed tC
pay.
The total debt bearing currency in
terest is S2O3, liz, $50 The amount OF
debt bearing no interest is S4O8, 973, 1881,
of which 1885,, IA, 2l2 is greenbaoks, and
$50 53l. $50 fractional currency. The
gold certificates of deposit are little
over $50, coo, coo, making the total given
above of S40S 973, 9Sl.
The question presents itself What
are our Radical rulers doing to relieve
the people of the heavy burdens pressing
upon them? Nothing-absOlutely noth-
ing. They are in no manner dimf sh.
| ing the debt? Everything is in
own hands. No one outside OF .,
Radical party can be held responsible
the condition of financial affairs, f.
reins of Government are in their
hands, and all power is in their b
But instead of their being dimiDr as in
of debt il is increasing that I Nos
the very beginning OF the Presidstreet,
campaign, when they are appeal Nn'
the people to give them a new LEI
power. F.-.--.sa