The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1869-10-13
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The sreech delivered by Secretary Bout
we'll at Philadelphia on Saturday IL an aba,
elcqusne and luninousl staAemsnt of tn
nnAucisi ccsdltion ard prospscts Of the
Republic. He puts in oee ssntence The en-
Tire policy n the Administration In regard
"The dot h 70 Be- paid, Tdseipai md intsr.
est, according 70 the termssf the contracl,
and In coin, or that which men will receive
as the equivalent Of coin, without any abate-
ment whatever" II will require q pretty
adroit Democratic word twister, we fancy, to
misrcprcsent uhdf. Aud II Is creditable 70 the
Secretary that he places his policy on 90
high and honorable . ground. "It Is not"
he says, "that plead for men who have
rights. But II Is because you would prove
yourselves base and unworthy the character
OF American citizens, you should hesitate
TO do whist you have promised 10 do" aI,f.
Our debt ID, u, 500, 000, 900, Of which, ~.
100, 900 900 bear Interest. { II "a o large sum;
but Its colossal outlines dwindle somewhat,
or, at least, do not 80 affect the imagination
when Secretary Boutwell, shows, as he con-
clusively docs, that Il h very much iea debt
In proportion TO population and property than
the debt Of the revolution, (which our
fhthers did not hesitate manfuily TO assume
and honestly to pay" As to the redemption
Of our own debt, tho Secretary speaks with
the utmost confidence. And what we have
now to note, and TO call the attention OF our
readers to, Is this that Secretary Boutwell,,
Commissioner Wells, aud Commissioner De.
lano, three gentlemen whose personal into
| gritty Is beyond cavil, aud whose Official 20 IL
| ton makes their opinion more responsible
| and Important than that Of any other three
officers In the Government, have, during the
last fortnight, explained exactly ho9 aud
phss tho national debt will, at the present
rate OF surplus revenue, be entirely paid.
| The declarations OF Commissioners Delano
| and Wells on this subject we have already
given; In complete accord with them, Mr..
Boutwell, says, ..5..r,..
dollars yssf, which We can pay Il the prsssst
IL d ssa.Sp 20 Ss,,%isss e isn:ia
sys.i, which " can pay, ssS snas.ily rsdsss
S. Z. ~: Sss,i1s public dss. VIII
Ana %s pay Su. twenty SSS .,H T sioos year year;
large sssrse, me interestbsarins debt will !.
sstinsuished In about thirty-two yesrs.r
What becomes Of the argument for rcpu.
dlation, when, without an additional penny
OF tax, tho cntlfe great national debt will be
swept away In fourteen years, and when,
even In 90 reducing taxation as to collect but
ons;f fourth Of our present surplus revenue, 1t
will be eItinguished Ia hirfu-tro years .
There Is another important point In Mr..
Boutwell's speech. Having shown that since
the hrst Of March, Tor, practically, since
Grants Inauguration no less than s56, oo0,-
900 Of the public debt have been paid, he do
clares that the true Inference from this fact
Ia that eve can speedily refund so much OF
this debt q: we desire 10 rcfund At rate Of
Interest mot exceeding four and half per
cent" This, Of course, would save TO tho
country from SIS, 0o0, 900 to t25, 0O0, 900
more-fairly to be carried to the account OF
the present Administration. And when once
tho ghost Of reputation Is forever laid, the
credit Of the country will rise. "The burdens
Of taxation" says Mr.. Boutwell,, "whether
heavy or light, can be removed" Even as
1t Is, tho great proportion Of internal taxes
already rest on luxuries-s44, 000, 900 on dis
titled spirits, for instance, and t23, 900 900
| on tobacco, out OF a total Of SIS, 900 900.
The address OF the Secretary, like all the
others that have been delivered OF late In
ylndication Of the Government, Is full Of hope
and conadence-a confidence well-founded,
We believe, In the honor, honesty, integrity,
and patriotism Of the people, regarding their
| national promises,