The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1869-09-03
One Million More Of the State Debt to be
Paid!

| In another column may be seen the adver-
tisement of the Sinking Fund Commissioners,
for the presentation of one million dollars
of the State debt for payment on the first OF
October next During the present admins
tration, not only has the interest on our State
debt been promptly paid, and over four mil
lions upon the principal, and all current ex-
penses of the government metz but here is q
public call to the holders of State loan,
not falling due until the first of July, 1870,
to present their obligations for payment on
the first of October next The semi-annua
payment of interest on the State indebted
ness, of nearly one million of dollars, fell due
and was paid on the first inst, and within
twenty days thereafter an additional million
of the debt is called for by public advertise
ment. We congratulate our people on this
official evidence of the healthy condition of
our State finances, and upon the determine
ton shown to continue the payment of our
whole debt as fast, or faster, than it becomes
due, thus paving the way for further reduc-
ton Of taxation at an early day. We are
aware that this financial record makes sad
havoc with fabricatious and false prophecies
OF our friends Of the PATRIOT, and Democratic
politicians and repudiators generally; and it
was very uukind, if not absolutely cruel in
the State Treasurer, and other members Of
the boar0 of Sinking Fund Commissioners,
thus suddenly and inopportunely to deprive
these parties Of so large portion of their
stock in trade for the pending campaign. In
the face Of all the records and facts they have
been charging mismanagement Of the finan-
ces and want of honesty and proper econ
omy in the keeping and disbursement of the
public funds aud have made great camor
ABOUT the improper use of an alleged unex.
pended balance in the Treasury. That all
such accusations were sheer .frabrlcations
must now be evident to the dullest compre-
hension. The State has no extraordinary re-
sources at this time; and the current eX-
penses are no less than heretofore; and yet
within twenty days of the payment Of the
semi-annual interest another million of the
debt is called for eleven months before it is
due. This is a palpable violation of all
Democratic accusations, usages and predic-
tions, and it is seriously apprehended, will
not only defeat the plans Of these worthy
gentlemen, but precipitate them into great
rage; and a serious question is, what can be
done to save their regulations and their cause?
Were Pershing already elected he would sug-
gest to them an application to the Supreme
Court for an injunction to prevent this squan-
dering of thepublic money in the payment of
the publicdebt before it falls due. But, as
the court isat present organized, we cannot
advise suchproceedings. We greatly fear
our Democratic friends are without any
remedy, save the one to which they always re-
sort in such cases, VIZ; downright lying. In
this, from year TO year, and from week to
week, they performsome most astounding and
incredible ieats and were the weather not so
excessively warm, we would expect them, un-
der The new provocation, to surpass even
themselves, were such a thing possible.
Harrisburg Telegraph,