The Republican journal., 1869-12-16
THE PUBLIC DEBT. WHAT IS COMING

official reports of the reduction of the public
debt We are shown formidable arrays of
figures and asked to believe that so much of
the indebtedness of the country has been
wiped out. Let it be So We are clad of
the fact that the money wrung from the toll
OF labor has been Of some avail, and that the
pockets Of greedy individuals and the mouths
OF cormorant banking institutions have been
in part filled.
But do the tax payers ever lift their eyes
to the huge, vague and indefined mountain of
Indebtedness that is to be piled upon their
shoulders in place Of the very small compare
tive reduction that is claimed to have been
made? We have frequently alluded to the
unknown and unadjusted claims that exist in
the country, which iobbers in and out of
Congress will soon be pressing for settle
ment, and for which the laboring masses of
the country will have to sweat blood The
Philadelphia Age thus alludcs to them
The coming Congress is likely to be mum
dated by a flood of claims from "loyal'' per-
sons for damage said to have been sustained
during the war. In all the States touched BY
the contendlng parties, men are busily at
work hunting up this class of prospective in
debtedness, and preparing the papers for pre-
sentation. Mr.. Delano, the Commissioner
OF Internal Revenue, was, during his recent
term in Congress, chairman of the Committee
on Claims in the House Our attention has
been called to passage in one Of the de
bates in that body whilst he occupied the po-
stion aforesaid. Mr.. Boutwell,, who figured
in the discussion, is the present Secretary Of
the Treasury:
| Mr.. Delano-s Mr.. Speaker, | know very
well that there are reasons why these considerations
should be expressed Our nation now groans will,
the weight of public debts and necessary taxation
and our credit must be maintained | know that
there are now floating claims against this nation,
not less in amount than $4,000 100000, according to
my estimate; and these claims. if admitted at all
will never be settled with less than 81 900 900 900
do not believe they will be settled for that
MIR. BoutWell-Will the gentleman let me ask
him question?
| Mr. Delano-Certanlv, sir
Mr.. Boutwell, would ask the gentleman
whether when he refers to This fioatno dobt which
cannot be liquidated without an expenditure of 81
600 100000 he refers to claims that may be brought
by persons i'll the eleven states lately in rebellion:
Mr.. Delano-I refer to such claims as will be
made by loyal people in all the states. and none
others. When say will take - 900 900 600 do
it on the assumption that we shall compound these
claims in some manner without settling up the full
amount. Congressional Globe. PIP. 2,1sO-2l 100.
Upon this wide base the crusade against
the Treasury of the nation will start and the
mode of prosecuting it will be by forming a
''Ring" of members interested in the money
obtained. This has doubtless been done al
ready as the men operating act in concert
and upon we'll prepared plan. When the
matter is presented to Congress, the COM
binations will be formed with all who have
pet projects to carry through the House and
Senate. Tariff men. friends of particular
railroads, the coal and iron interest will be
approached and promised vote for vote on
the cooperative plan. When such induce
ments fail, dividend, large OF small, as the
eXigences of the case may demand, will be
promised. The sum is so monstrous that a
hundred OF more thousand dollars will be
nothing when weighed in the balance of sue
cess. These are the means which will be
used to build up party in Congress favora-
BILE to the claims OF 'loyaf' parties for dam
ages. As to the claims themselves, the
Il greater part are entirely worthless, many ex-
aggerated, and all need the most careful OK
animation before they arc even admitted on
the list for Legislative action. Floating in
debtedness is always dangerous to the Treas
ury. 1t has no fixed boundaries. 1t can be
contracted or expanded at pleasure. A claim
which has the sanction Of a prominent NOM
Der OF Congress can be mounted on n much
higher pedestal than one in the hands Of an
obscure individual. MI. Delano put these
floating claims against the United States four
thousands millions of dollars, but supposed
they could be settled for half that amount
This would abstract two thousand millions of
dollars from the Treasury. But no such Il
reduction as this can or will be effected if q
Congressional "Ring" is formed to push this
Indebtedness to a conclusion When n sink
ing fund is established and the regular debt
and the taxes are firmly strapped down upon
the shoulders Of the people, the new debt of
two thousand millions is to come looming up,
and is to go to Radical claimants. And all
WILL of course, be treated as Radicals who,
between this time and that, shall give their
votes to Radical candidates and their support
to the Radical administration. None else
arc to be allowed dollar. This is the Radi-
cal programme for the future, and it will be
inaugurated at the next session Of Congress.
SO business men may prepare for another
draft upon their capital and labor