The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1870-09-02
Democratic Lying.


In an article in last weeks paper
wesaid the Democracy avowed differ
ent principles in different States,
which is generally speaking the fact.
But Ohio and Indiana politicians
appear to have struck hands on one
point in this campaign, and that is
in agreeing to insist that the present
administration instead of reducing
the interest bearing debt had in
creased it. Hon. d. W. voorhees,
of Indiana and General Morgan of
Ohio, the retreating general of Cum
berland Gap memory, have opered
the campaign for the Democracy up
on that issue, and will doubtless CON
tinue repeating their stale falsehoods,
however often refuted, until after
the election, and then laugh in their
sleeves at the gullability of those
who believed them. But, in order
to furnish our readers with the au-
thority to refute such statements,
we give the following, which is an
explicit refutation of the charge,
and a yindication of the government;
TERRE HAUTE, Ind, Aug. 4.
Hon. George 5. Boutwell,, Secretary of the
Treasury, Washington, ID. C.,
DEAR SIN: The Hon. ID. w. voorhees,, Nj.
c.. for this district, now canvassng for re-elec-
ton, makes the statement in all his speeches
that there has been noreductionln the interest
bearing portion Of public debt since the present
Administration came into power, but on the
contrary it has been increased. OF course IN
telipeut men of all parties know this to be
false but in order to settle the question be-
yond the possibility of dispute, would like
Statement over the SecretaTy's signature, show
ing lust what reduction has been effected IN
the interest bearing portion OF the debt,
Very respectfully,
Editor Daily Express, Terre Haute, Ind.
FREAsURY DEPARTMENT,
OFFICE OF THE SECRETARY,
August 9, 1870.
G. H. Allen, Editor Terre Haute Express,
Terre Haute, Ind,
SIR: BY comparing the debt statement OF
March I. 1859 flour days before the inaugura-
tion of President Grant, with that Of August
/. 1870. YOU will find the following reduction
m the interest bearing portion of the public
debt;
Debt bearing interest IN coin. .Sl29 iOSi9oVV W
Debt bearing interest In lawful ooooo
money y...........-.....:.. .-s--.-.; ll''%O'OVOVV
Debt ON which interest has ceased ,,,,.,o
since maturity. y.....-.----.-...-.-- -'oO''01' "
Showing a reduction in the interest
bearing debt sI4S,z'' 40 -
This does not, however, by any means, show
the entire amount paid on the debt. A large
arnount of accumulated interest OF coupons,
due. but not presented for payment previous
70 March l. 1863, has since been pald' ana
does not appear IN this account becaufe the
accounts were formerly so kept that 1t was
i,nnossible to ascertain the coupons outstand-
ing at any given time dlihegity wIlGh 6 tne
present Secretary has remedied as to all cou-
mons maturing since he has resumed the du-
ties of his office.
By skillful and a deceptive use OF hgures
I can see that a person might claim that, by
comparison OF the debt statement Of March l,
1855, with that Of July l, 1870, the bonded
debt bearing interest in coin had actually IN
creased, because up to that time the bonds
purchased and held by the Treasury Depart
Inent had not been deducted from the outsatn-
ding bebt, but were called funds on hand, and
were deducted from the sum total Of all the
debt, like cash on hand. Since the passage OF
the act of July IA, 1870, the bonds purchased
have IN been cancelled and destroyed, and do
not now appear in the account OF bonds out
Standing. as YOU will see by a note I have
made and printed on the debt statement Of
August /, Very respectfully
WM. A. RICHARDSON,
Acting Secretary.