Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1869-11-03
WHEN THE NATIONAL DFRT
WILL BE PAID.

ton possessing a vast amount O
wealth and brains and activity i,
foolish for Dor. owing a certain sun
Of money for present emergency
and future profit. Often by sucl
means untold wealth is added &c
original possessions. We have
consequently had no fears about it.
being paid. Will the advancing
prosperity Of the north, and the
wheeling into line of the south; des.
pite all grumble-s and cold WON en-
croakers, we easily see how and when
the national debt can be paid with
credit and honor to ourselves. And
rs all the nations of Eurore are
struggling to found R,pu Slics like
our own, and while the whole world
Is ringing with the hum Of busy in
dustry and teeming with available in
ventions we certainly show our good
sense in being honest and Just even
Mt something of a sacrifice for the
present.
Of all the heavy blows which Re-
publican orators, and fnanciers, and
statesmen have dealt TO the despon>
dent Democratic suggestion of re-
pudiation, that of showing how and
when the national debt will be paid
Is the most telling. When we learn
as we do, from unquestione d author.
lty, that the receipts vi der General
Grant exceed by millions those of a
Ike period under his predecessor :;
and when We call to mind the large
decrease of the national debt each
month and also remember that the
annual production of the country
amounts to $1,000, 200, 900, that is,
$4,000, 900 for every working day
otthe year, and that the na.iona. debt,
In proportion to our population,
IS less than .that with which our
fathers came out of the war of the
Rcvolution-every dollar of which
was paid-we feel that those persons
who talk about reputation are either
exceedingly ignorant or shamefully
dishonest
The surplus revenue for the fiscal
year ending June 3Oth 1869 was at
least S4s. 900, OOO--that is. receipts
s31l.OOO,OO0 expenditures 1923
200 ,OOO- The average annual in
crease IN the revenue from the
growth of the country we may sup
pose at the very lowest to be SIS
100000. The gain from the rigid
system of economy inaugurated by
the present Administration, and
from more faithful collection of
taxes, will undoubtedly exceed $50
100000. Taking the last years ba-
sis Of S,0O0,cOO. to guide US, we
may expect with this addition of
s45, OO0,0 900 year. a surplus next
June of S93, 100000. But in reality
the surplus of last year was redu-
ced by the payment of SIS, 200, 600
on extra bounties, and the payment
of SO, 500, 900 in currency for Alaska.
These sums we shall gain each year
hereafter, and adding them to our
account we get a total of s120, 0OO-
600 as our surplus revenue for the
current fiscal year. How shall this
grand surplus be applied? For the
present, we believe that fixed an
nual amount of $4,000. 900 should
be devoted to reducing the national
debt, and all the rest should 90 to
reducing the taxes This policy
will in time prevail, and with contin-
ued frugaIity and faithful collection
OF the revenue, so as to make it
yield, as at present, a minimum sur
plus of s10O,0OO,0O0, over all ex-
penditures to be applied to the ma
tional debt, the debt will be reduced
in eight years to 1000, OOO, 900.
Then an annual investment of this
same surplus of 100000, 900, al six
per cent in a sinking fund, will ex-
tinguish the entire principal Of our
debt in less tIan fifteen years.
But suppose We take simply the
surplus revenue ofs5O, O00. 600 which
was annually collectable under the
johnson administration, and apply
this regularly to the reduction of
the debt Suppose, also, that, taking
the gain under the present adminis-
tration purely from economy Of ex
pense and more faithful collection
of taxes-a probable amount Of $50
cOO,00o,-we reduce by this amount
the taxes, how then shall we come
on? The annual investment of
$50, 100000 at six per cent, In a
sinking fund, will extinguish the
national debt in twenty three years.
Between these two periods We have
the exact time when the present pub
lie debt Of the United States will be
extinguished. So much for the po-
Icy of brains, frugality, fidelity, and
IL