New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-10-19

The Commercial lCinCinnati closes review
of the recent contest in Ohio and its result, as
follows:
"The course of the Administration stands Endorsed by
GTr nm tSer ~ lis Eorn al nc end Of each aaneial
,egr that one Hundred Millions Of The Public Debt has been
SrnO,Shed TO accomplish this Is the intention OF the
President and his able Secretary aud they Will work
with an eye single to that purpose
-Truer words were never spoken, and ne is
an unwise or an insincere friend OF the Ad-
ministraton who does not lay them to heart.
When the Copperheads were trying to defeat
Gen. Grants election, they paraded Delmar's
official calculation that the Treasury would be
One Hundred and Fifty Millions minus at tho
close of the fiscal year then passing. They
chuckled over that prospect as though it were
a new Bull Run or Fredericksburg. And now,
they would have worsted us in the lato Eec-
tions but for the fact that the Debt is being
steadily reduced by purchase and payment
Stop that process tomorrow, and the Govern
ment is a shorn Samson, and gold bulls" in
Wall street will vic with Copperheads at the
polls in their anti National triumphs.
The naked truth is, that the great mass OF
our frugal, thrifty, hard-working people want
the National Debt paid, and that within the
next generation. They do not regard 1t NJ a
blessing but as q burden. which they mean TO
be honestly rid Of. They have no faith In
financial jugges they fully understand that
it is TO be paid from the fruits of their labor,
and they propose to work and save on purpose
that it may be paid. Each successive monthly
statement which shows that Five TO Ten Mil
lions of the Debt have been paid of within
the preceding thirty days makes them
feel as they did when they first read the
news from Fort Donelson, or heard that
Vicksburg had surrendered to Grant, or
that Atlanta had been abandoned to Shermans
victorious arms. Nothing succeeds like sue
"cess - and the fact that we are paying Eighty
or Ninety Millions Of the Debt per annum is
the best answer to those who argue that we
can never pay it. We shall have Five Millions
less interest to pay next year than we must
pay this year. because of the principal we have
meantime wiped out; and we must not weary
in well doing. In order to fund our Debt at a
lower rate of interest, we must convince the
holders and other moneyed men that our Debt
will surely be paid-that the bonds are to be-
come scarcer and scarcer yearly, 80 that their
market price will ,advance ; and we shall soon
be able to fund the Five-Twentes at lower
rate of interest, and thus save Twenty
or Thirty Millions per annum. But
let the payment Of the bonds be
stopped, and We shall have the credit Of
the Government falling off, the burden of the
Debt increased by the feeling that there is to
be no end to it. and all manner of Repudi-
ating schemes commended and made formida-
BILE. There may be friends of tho Administra-
ton who unite in the camOr for reducing and
taking off taxes but that will be dark day
for Gen. Grant which sees the taxes so re-
duced that we can no longer persist in a steady
and rapid reduction of the Debt. The wisdom
of such course would have been exactly par
alleled by stopping the augmentation of our
armies in July, 1854, and mastering out 100000
veterans to return to their homes. IL we keep
on paying the Debt, it will come to BIO gen.
orally understood that the Debt is to be hon.
esty paid.