Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1871-09-15
The Public Debt Statement.

THE monthly public debt statement is a
| frequent and most authoritative witness as
TO the ability and fidelity of the Republi-
can Administration to its trusts. The de.
create in the debt during the month of
August has been $0206 279. Since March
Isl, 1871, the amount of $46,b86, ,2S6 of the
debt has been wiped out, and since Gen.
Grants Inauguration the total reduction
has been $251 $40 500. On this large
amount interest has ceased, and the work
| of reduction is still going on. AT this rate
the close of Gen GRANTS administration
will witness q reduction such as few OF US
expected to see effected in a generation. 1t
Is amusing now to hear the men who used
10 tell us The debt never could be paid
while the world stood, now finding fault
because, as they claim, the debt is being
paid too fast Yet all this time taxes have
been made lighter, and the public credit
improved. The Administration has had
the wisdom to perceive that nothing short
of steady and considerable reduction OF
the debt could enable us to improve the
national credit and replace our bonds with
those bearing higher rate of interest, but
such reduction as this creates complete
confidence in our ability and willingness
to pay the debt to the last farthing.
The government has no apology to offer
to the Democrs ic party for paying the
debt as rapidly as it has done. Nor has it
any to offer for its success in funding the
five-twenties in five per cents. The best
thing for man or a nation to do is to get
rid OF debt as rapidly as possible Interest
eats like cancer, and the sooner 1t is got
rid of the better for the general welfare.
The .atement of the Large amount OF
bonds redeemed in currency, and cancelled
and destroyed, SHOWS how much capital
has been released from confinement in
bonds, and therefore left free for the gen.
eTsl business of the country. The reduc'
ton of the debt means increased invest.
ments in the various industries which
make the country prosperous. Railroads
will be bui t, farms improved, manufac-
lures established, and commerce enlarged,
with the funds locked up heretofore in
bonds Hitherto when farmer or me-
chanic, in need of a few hundred or thou
sand dollars, to lift him over hard place,
approached capitalist he was met with
the remark that five-twenties, free from
taxation, were better interest than any
he could afford to pay. Hence he either
had to pay more than he could well afford,
or go under The policy of the govern
ment in steadily gathering in the bonds, is
heavier burdens of business. And yet we
hear from every Democratic journal and
orator that the Republican party is work
ing f II the benefit of the capitalist While
it is faithful to the public creditors, it is
compelling them, as fast as possible, to
give up their bonds and invest elsewhere,
or else take lower rate of interest This
il fair and business like. And it is what
gives capitalists at home and abroad the
largest confidence in government securi.
ties.
Had the Democratic party triumphed in
1868 we should now be writing very
different story about the credit and fnan-
ces of the country. A few Democratic
victories and the credit of the government
would show signs Of suffering. This is
simply because the chief men of that
party are advocates of policy which pro-
poses to punish the holders of our bonds
for helping the government to money,
when without such help it must have been
destroyed. They are making propositions
of the most reckless and insane character
to get rid of the honest obligations of the
government The very possibility that
the Democratic party might triumph at
The next national election would cause our
bonds to be sent home from Europe in q
perfect panic of distrust.
The way to enhance the credit Of the
government and tighten the taxes of the
people is to keep the Republican party in
power. By truthful figures we show every
month report that makes every one OF
us proud to be called an American. Under
a Republican Administration the nation is
pure from any tsint of reputation. We
propose no methods of chiseling, or cheat
ing the creditors of the government. In
a business like way we propose to pay the
debt and reduce the interest. We pro-
pose, in the future as in the past, to col.
iect the taxes vigorously and impartially
and to economist the expenses of the gov
eminent in every possible way. Keep the
Republican party in power and the gov
ernment credit is SAFE Toledo Blade.