The Plymouth weekly Democrat. (Plymouth, Ind.) 1860-1869, 1869-02-11
PUBLIC DEBT.

lars.
On the 1st day of January the debt
less cash in the treasury. was. So $40 1O7 POI %
On the lst day OF February II was 2,556a05 65S 0S
Increase ,4Is 457 81
The February statement, as compar-
ed with that of January, shows that the
debt bearing coin interest has increas-
ed S14 700 90. The debt bearing cur
rsncy interest has s1,545,OOO 90.
The debt bearing no interest has been
decreased s43,17s,0sS 10. It is no.
ticeable that. while the debt bearing
interest has been increased both in the
gold and currency bearing obligations,
that portion which bears no interest
has been decreased. It is not possible
to control the increase of interest-bear-
ing indebtedness during a,single month !,
but the general policy of the treasury
seems to be directed, when the matter
is within its control, at aiming to de-
crease only those obligations which
bear no interest, and which are there
fore less felt by the people. IF the
interest bearing debt could as regu-
larly be contracted as the non-interes t
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 81 than it was on the 1st
of January. The amount less in cur
rency for the same time was S4,409,-
240 81. 1t is thus seen that, while
there has been decrease of the amount
In the treasury of 1852, 4l2 %. there
has been an increase in ths publ lie
debt to the amount of SIS, 41S,457 SO.
These public debt statements are
anything but encouraging. They
demonstrate that neither sagacity nor
economy is engaged in the manage
ment of the finances. There is always
shown the policy Of en- deavoring to in
crease the value of the Interest bear
ing 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
Ofthe country depends for its healthful
existence The lack of economy is
equally marked. Ia the February
statement. it is shown that something
like 5000, 900 was issued for the war
and navy departments; and this at a
time when the nation has no war save
an Insignificant difficulty with a few
halt starved Indians. Alongside this
statement Of payment af s8,000,O0O
In a single month, tor departments
which ought to be approximately
shut up, there is the statemant OF
$50, 100000 paid out as interest on
the public debt. There is no reason
whatever, save in the obstinacy of the
treasury department, backed by the
demands of the bondhoiders and ma
tional bank interests, together with &
policy that necessitates the support o.
an extensive army and navy. to proven
material reduction in expenses, ant
a reduction, in some cases, of rates o
interest, and In other cases their entire
abrogation. The payments for civil
miscellaneous, and foreign intercourse
for January, amounted to some SIS,
100000.
Who can doubt that either repudia
ton or bankruptcy must follow polio,
in which lavish expenditure is the in
variable rule? 1t is not enough tina
the nation must pay round bonus t
national banks for the privilege ef al
lowing them to issue their notes with
out interest that we must suppor
armies and fleets in time of peace tina
We must have civil service which
twice or thrice as expensive as that 0
any other nation of equal size that GU
circulating medium must be contraete
and the interest on our debt be con
stantly made more burdensome. i
addition to all this, the nation is calle
upon to afford more outlay, to gran
more subsidies, to endure laryer bu
den of taxation.
If the next congress and the mex
administration be no more wise or ecol
omical than the present one, then wi
the people have good reasons to fe
the worst.