The Cecil Whig., 1870-10-29

thus furnished of the ability of the people
of the country to liquidate the public debt.
From tie 1st day Of AprA, 1865, to the Isl
day Of january, 1868, taoO gears and nine
months, ,ce hare paid out Of the public
Treasury 81, ,552, 900, 900 Of money. Upon
a careful analysis of the expenditures of
the Government during those two years
and nine months, find that the expenses
of peace establishment, ercluding inter-
est, pensions, and bounties upon the basis
of the year 1866 and 1867, when the expen-
ses of the Government were $4,000, 900
more than they are to be the present year,
amounted to $4S5, 900, 900, SHOWING THAT
WE PAID, OVER AND ABOVE THOSE EXPEN-
April, 1865, the public debt, liquidated and
81, ,066, 200, 900 which we paid between the
1st day of April, 1865, and the 1st day of
January, 1868, would have been added to
the public debt as proper expenses of the
war if we had not out of the public reve-
nue. from day to day liquidated it. If we
add to the So, 1886, 900, 900 of the public
debt on the 1st of April, 1865, 81, ,066, 000,-
| 600, which we paid for war expenses in
Guiding interest on the war debt, pensions,
and bounties between the 1st of April,
1861 and the 1st of January, 1868, the
public debt, if we had not paid expenses of
the war out of the ordinary revenue, would
have amounted to So, 432, 900, 900. In the
.face of this great fact that in t,oo gears and
nine months, By extraordinary taration and
extraordinary efforts to be sure, ace paid
81, ,0GG, 600, 900 Of the public debt, are we to
assume that the people of this country are
not annually to make considerable pay
ments of the public debt of the country p
! 1Inoaf one fLjr1 of the D7ybIir fI>bf of The
country has been paid in taoo gears and nine
months, and l am not willing to stand upon
the assumption that we shall not make
large payments in each year hereafter"
The thanks of the Republicans are due
| to the Democratic committee for this quo
tation, and for the admission that the
| Democratic war debt was paid or kept
! down by the proceeds of taxation to the
enormous amount of s., ,066, 900, 600 in the
short period from April 1, 1865, to July 1,
1868. They should also have stated that
the policy which so kept down and reduced
the debt was inaugurated by Republican
Congress, and sanctioned and organized
under the administration of the lamented
Lincoln.
And we readily grant that, but for the
fidelity, sagacity, and patriotism of the
| Republican party, as exhibited in provid-
ny ioi va. .i an, NV IoHt a''iS
VA Wa. az a,o.oh in,S so &C. .tatn5 i w., Inv NJ po,tuon
nave we announces, me dno as sta'eu ny MI. DouI"eii,
10 %o' o'4o~''oo,ooo 'I the u"lo Iaiheo' anu
tlia'; III colise'l"eheI' lle puoiiI cie9l'
Mo'liet ny ooIn ~ '..A1l .'s ~ NV
nation to a ruinous extent.
| The thanks of the nation are due to the
| Republican party for this timely prctec>
ton of the public faith; and for once.
.ii'rhs arc u"I ~ yiio .i Ioiiiii'
Wv ~ aSI','S
Republican party
prr,-Nn1xc THE DEPT
r, .1,;.,,oaa a.Io..,,; A.,
naer tniS Rae;nt eaa among oiner 'hng ~.
Demoeratlc , hesloent oomlnlttee declares: n
,,,;anu a 'nIS roua;one, u.ee \"Ta To,;.t1 .mo o.
p''I,, ass,,r,oS t5at tho E;,o t,.nnt;aS o,r I.s
,ortad onry ;,,to Cow no., oo,is doI,o' fo,.
converted % lito iour per cen Genus uollal ior
ana actually y iIel9aes Di 'ne ailouht ~ saveu IN
its table of Radical saving, 6w aetua'ty
nlishsd,
The following quotations from the Re
nuhlican document. which the Resident
| Committee had before them, proves the
above quoted assertion of the Resident
| Committee to be absolutely and intention
ally false:
THE vigorous collection and faithful
application of the revenues. and the econ
| omical measures of the Republican Con-
press and administration, have SO replen-
ished the Treasury and enhanced the pub
lie credit, that the funding OF the debt, at
reduced rate OF interest is already posi-
bic, and to accomplish this desirable relief,
| Congress, at its recent session, enacted
law for that purpose. The new series OF
ne@"ce'o" ~ h""u0' A"'o'eS''
Annual saving OF interest upon
| principal of public debt paid,
about IS, 500, 900
Refunding at lower rate, conse-
qucnt upon improved credit &c, 500, 600
Interest on three per cent. GER
tificates to be redeemed under
currency act 1862, 600
-
Total annual saving of of inter
est $685., 6oO
when tbe naw series Of bonds shall he ne
aotioted ),
Here is no nretense that the bonds are
peroti,ted. on tbe contrary n clear state
n,ent +bat Tho law has Int ;ust heen on.
notaJ +ho+ +Ea hordS ora beino ,ren.red
and that ,cben ,eoot;a,sd tho sav;ng will he
as s+ated In The face of this the Resident
0ohilhlttee says ln"I 'iie nepuolo"n ooiii-
mlttee ictuaiy asserts Iiia' ~ haS aiis''uy
more palpable?
The Resident comm;ttee has over naoe
o,daa7,o, f,,rthor TO distn,t Tho facts. hnt
as tla;r ,,ron,;soS ore shoyn 70 be ahSol,,teIv
60 tha o,n,n,ont nf oo,rso f.IlS
i"'se' 'ne "i u'''o'' VI 'o"i'0 i"''''
VALUE OF UNITED STATES SECURITIES.
The Democratic Resident Committee
quotes the Republican finance pamphlet
as to the value of United States securities,
which they dare not attempt to invalidate
or contradict. But they gloat over the
fact that the shock of war between the two
leading European Powers temporarily de-
pressed American securities, though they
are forced to admit that, in a few days,
those securities again rallied to about the
quotation eiven 6v the Republican com
| mittee. Tie temporary depression, how
ever, gave the Democrats much satisfac-
ton. % and furnished the only crumb of com
fort which they have been able to draw