Wyandot County Republican. [volume] (Upper Sandusky, Ohio) 1869-1903, 1871-09-21
The Public Debt Statement.

TIE monthly public debt statement is a
| frequent and most authoritative witness as
to the ability and fidelity of the Repubh-
can Administration to its trusts. The de-
crease in the debt during the month of
August has been 9,206, ,279. Since March
| Isl. 1871, the amount of SAG, $50, ,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 reduction such as few of us
expected to see effected in a generation. 1t
| is amusing now to hear the men who used
| to 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 a higher rate of interest, but
such reduction as this creates complete
confidence in our ability and Willingness
| to pay the debt to the last farthlng.
The government has no apology to ofter
to the Democra ic party for paying the
debt as rapidly as it has done. Nor has 1t
any to offer for its success in funding the
| five-twenties in five per cents. The best
thing for man or nation to do is to get
rid OF debt as rapidly as possible. Interest
eats like a cancer, and the sooner il is got
rid of the better for the general welfare.
The statement of the large amount of
bonds red eemed in currency, and cancelled
and destroyed, shows how much capital
has been released from confinement in
bonds, and therefore left free for the gen
eral 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, manutac-
lures established, and commerce enlarged
with the funds locked up heretofore in
bonds. Hitherto when a farmer or me
chanic, in need of few hundred or thou
sand dollars, to lift him over a hard place
approached capitalist he was met witt
the remark that tive-twenties, free from
taxation, were better interest than any
he could afford to pay. Hence he eithe
, had to pay more than he could well afford
| or 60 under The policy of the govern
ment in steadily gathering In the bonds, il
thus relief to the men who bear thu
| y
J hear from every Democratic journal ant
, orator that the Republican party is work
t ing r the benefit of the capitalist Whil'
: it is faithful to the public creditors, it i
compelling them, as fast as possible, t.
7 give up their bonds and invest elsewhere
[ or else take lower rate of interest. Thi
3 is fair and business like. And it is wha
gives capitalists at home and abroad tn
!. largest confidence in government securi
ties.
Had the Democratic party triumphed il
1868 we should now be writing a YER
different story about the credit and fnar
: ces of the country. A few Democrat
victories and the credit of the governmen
s would show signs of suffering. This
simply because the chief men of tha
: poses to punish the holders of our bond
4 for helping the government to money
r when without such help it must have bee
: destroyed. They are making proposition
r of the most reckless and insane characte
e to get rid of the honest obligations of tn
s government. The very possibility thu
it the Democratic party might triumph s
IS the next national election would cause OF
e bonds to be sent home from Europe in
q perfect panic of distrust.
The way to enhance the credit of tt
e government and tighten the taxes of tt
e people is to keep the Republican party
If power. By truthful figures we show ever
Il month report that makes every one
II us proud to be called an American. Und'
/. Republican Administration the nation
e pure from any taint of reputation. "
K propose no methods of chiseling, or chea
d ing the creditors of the government.
l. business like way we propose to pay Il
ir debt and reduce the interest. We pr
ir pose, in the future as in the past, to &C
e. lect the taxes vigorously and impartial
s. and to economise the expenses of the GO
+ ernment in every possible way. Keep tt
g Republican party in power and the go
r eminent credit is safe.-Tozedo Blade.