The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1869-04-16
Is Iowa Ont Of Debt. -

FRIDAY. APKlL, ~, lcOS.
IS Iowa Ont Of DEBIT
In July 1868 the State REGISTER, speak
lag efthe financial condition Of Iowa, said:
1--WE see State free from debt, and
with IN ovcrplus Of money lying in her
Golfers unused, or not nceded.n This
statement was reiterated through the Re
publican press all over the country. We
Sontradicted the statement ut the time aud
demonstrated by the official statement Of
the Auditor that the liquidated interest
bearing debt Of $622, 595,75 was not only
not paid but not materially reduced and
the Decorah Republican, after investigat-
ing the matter aud finding that our state
snent was substantially correct, was the
only Radical paper that had the manhood
70 admit their error in giving currency to
the statement Of the Register.
After having profted by this false state
ment put forth, as We charged ut the time,
to deceive the people and hoodwink them
into other schemes Of extravaganza, such
~ the investment Of a few millions in
state Capitol, and the like, the Register of
March 81, 1889, says Iowa is out Of
debt. We have the figures in black and
white from official sources to prove it.
Something over year ago a premature
announcement to this affect was put in cir
eslation"
The statement is just as false now as it
was then, and put forth for the same de-
oeptive purpose. The Registers own
statement shows the absurdity and falsity
OF both Of these statements. 1t gives the
amount ofthe bonded debt Of the state as
follows
INDEBTEDNESS"
War and defence per cent bonds
lssaed In 1861 payable In 1881 $500, 600 90
00nds issued for amount borrowed
: frsn ths School Fund esi, aes OF
Total 1854. 4os OF
This debt, which exceeds the Constitu-
Genal limit Of State indebtedness at any
one time over 1884,, 900, and which was so
prematurely paid Of BY the Radical papers
about year ago, is now. according to the
Register, fully paid of, extinguished, liq-
uidated, and cancelled and Iowa is now out
Of debt. Nothing premature about this
- We could not defend the statement
year ago. 1t was little PREMATURE then,
but now we have got you copperheads
whore you can't DODGE The following
are the assets given by the Register, which
wipe out and pay of this enormous debt,
and leaves balance Of clean cash in the
treasury, Of S629, 900.
RESOURCES.
Cash Ia the hands ofstate Treasurer
and County Treasurers $2s4 81
War claims allowed by act Of Congress
March Sd 1853 c2s, s4s, %
Taxes due for 1865 So. 900 TO
rs.a . 81, 10, 2as 80
This oil looks very fair and nice to one
who wants to be deceived, and will take
shelter under any cloak to cover up Radi-
cal extravaganza, but to one who wishes
70 know the facts, and will give the matter
. moments thought and consideration, the
statement will appear supremely ridicu-
lous. II the State had no other expenses
% incur than the payment of these bonds,
and they were now due, the Registers
statementof assets and liabilities would
demonstrate that the State was solvent
debtor, and if her assets were all collected
and not squandered, Ia very violent pre-
sumption, indeed, the State would THEN
be out Of debt, and honestly applied in the
payment Of the debt. 7&@
Whore is the money coming from in the
meantime to defray the current expenses
Of the State Government, estimated by the
Auditor in his last report at $94l, 500 81,
Win the $500, 900 additional, generously
appropriated by the last Legislature, in
consideration fthe statement, premature
though it was, that the State was out Of
debt. Where is the money coming from
70 pay these little sums, saying nothing
about the amount flched from it to line the
pockets Of the slight of hand performers
through whose hands it has to pass. it,
Extend your problem little Mr.. Regis
ter; give US few more Of those "official
6gxreso that demonstrate that your state
ment Is not now as premature as it was o
year ago. Official figures are what We
want. No one will be more happy than
We 70 learn that the resources of Iowa are
snoh q to enable her to endure Radical
extravagance, and thrive and prosper un-
der It. If there is State in the universe
that can thrive and prosper under the
enormous burdens that the corruption and
extravagaace Of Radicalism has imposed
upon US, in the shape Of taxes, it is Iowa.
1t she, from her immense resources, can
endure biannual expenditure Of a million
and half Of dollars, what could we expect
Of her under that system of Democratic
economy that required but ST., 900 fer the
same periodl Less than half Of what is now
required to defray the expenses Of one
Legislative session. The Registers bal
aase sheet is evidently all right except the
tri6ing sum Of about million and a half
Tor current expenses, evidently overlooked.
But then it is all the same, the Estate is
out Of debt, - as it was year ago, only the
statement is q little premature. - ''If the
pesky democrats will persist in denying
1t, We can't prove 1.-THE Union.