The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1869-02-11
The Public Debt Statement.


THE statement of the public debt, on
the first of the present month, shows an
increase of something over fifteen millions
of dollars.
On the 1st of January the debt,
less cash in Treasury. g. So 707, POI 25
On the 1st of February, il was 2 $50 EOS, 65s Is
Increase. ACKNOWLEDGEMENTS. SIS, 49S. I56 50
The February statement as compared
with that of January, shows that the debt
bearing coin interest has increased $14,-
100 The debt bearing currency in
terest has increased $1,545,000 The
debt bearing no interest has decreased $43,-
17S OSLO. It is noticeable that, while the
debt bearing interest has increased both in
the gold and currency bearing obligations,
that portion which bears no interest has
been decreased. 1t Is not possible to con-
troll the increase of interest bearing in
debtedness during 6 single month but the
general policy Of the treasury seems to
be directed, when the matter is within its
control, at aiming to decrease those obi
cations which bear no interest, and which
are, therefore, less felt by the people. If
the interest bearing debt could as regu-
larly be contracted as the non-interest
debt, we should soon begin to feel the
benefit of the policy.
On the 1st of February, the amount of
coin in the treasury was less by S10,030,-
652 AZ than it was on the 1st of January.
The amount less in currency for the same
time was $4,409, 240 81 1t is thus seen
that, while there has been a decrease of
the amount in the treasury of $685.
412 %, there has been an increase in the
public debt to the amount Of $15,41S,-
457 SO.
These public debt statements are any
thing bat encouraging. They demonstrate
that neither sagacity nor economy is en-
gagged in the management of the finances
There is always shown the policy of e.
deavOring to increase the value of the in
terest bearing debt,-already usuriOus in
the character of much of its interest,"
and the effort to lessen that which bears
no interest and upon whose continuance
at its present dimensions the business of
the country depends for its healthful exist
ence The lack Of economy is equally
marked. In the February statement, it is
shown that something like $S,000,000 was
issued for the War and Navy Depart
ments and this at time when the nation
has no war save an insignificant difficulty
with few haif-starved Indians. Along
side this statement of a payment of S.,
000,0G0, in a single month, for depart
ments which ought to be approximately
shut up, there is the statement of $780,
100000 paid out as interest on the public
debt. There is no reason whatever, save
in the obstinacy Of the treasury depart
ment, backed by the demands of bond
holders and national-bank interests, to-
gether with policy that necessi-
tates the support of an extensive
army and navy, to prevent a material re-
duction in expenses, and reduction in
some cases, of rates of interest, and, in
other cases, their entire abrogation. The
payments for civil, miscellaneous, and
foreign intercourse, for January, amount
ed to some $45,000,O00.
Who can doubt that either reputation
or bankruptcy must follow a policy in
which lavish expenditure is the invaria-
bic rule? II is not enough that the nation
must pay a round bonus to national banks
for the privilege of allowing them to issue
their notes without interest; that we
must support armies and fleets in time of
peace; that we must have q civil service
which is twice or thrice as expensive as
that of any other nation of equal size
that our circulating medium must be con-
tracted, and the interest on our debt be
constantly made more burdensome. In
addition to all this, the nation is called
upon to afford more OUTLAWS, to grant
more subsidies, to endure larger burden
Of taxation.
If the next Congress and the next ad-
ministratiOn be no more wise or economi
cal than the present one, then will the
people have good reason to fear the worst
-Chtcaq0 Times, Sh