The Cairo daily bulletin. (Cairo, Ill.) 1870-1872, 1872-10-29

son, or any reason at all, why he should
not be sent to congress, or a reason why,
being there, he would not discharge the
duties Of that position efficiently?
THE UNITED STATES A DEBTOR
TO EUROPEAN CAPITALISTS.
There is one feature in the financial ad.
ministration of Gen. Grant 10 which tho
attention Of the people ought to be con-
stantly directed. It's a fact Of portent-
Gus importance, and deeply concerns the
public honor, and measurably the public
prosperity. We refer to the persistent,
unyielding efforts of Secretary Boutwell,
to increase the public debt of the United
State. in foreign countries.
The amount of our national debt held
by European capitalists is vsriously esti-
mated at from twelve ~ fifteen hundred
millions Of dollars. 1t is certainly not less
than twelve hundred millions pro-
digious sum, involving the payment by
the people of the United States Of an an
nuAl tribute of SIXTY MILLIONS OF DOL.
LARS IN GOLD to citizens Of
European states. There is no instance of
any solvent nation, except our own, thus
deliberately forcing its debt into the hands
of aliens. To free and proud people
such policy ought to be peculiarly and
intensely repugnant. One hundred and
twenty-five thousand subjects of the Brit
ish crown hold the entire amount of the
British national debt; and the British
public would drive into nal and irretriev-
able political obscurity any chancellor OF
the exchequer who should propose SO hui
initiating a policy as that pursued by Sec.
rotary Boutwell, amidst the applause Of the
Republican partisan press. The national
debt of France is held by Frenchmen
those Of Germany and the German state
by Germans. 1t 10 America only, Of thu
great powers, that humbles herself to thu
3 position Of beggar in foreign markets.
s To pay sixty millions gold yea,
4 eIhAusts the annual surplus earnings o
t,oelre hundred thousand of the people o
Ohio This is, If anything, IN under esti
70 mate of the fact; tor the census of lsI
h shows that the public wealth of Ohio i
10 that year was but eleven hundred million
T. greater than in 1865 period of te
e. years,-and that material portion of tn,
y increase WAS owing to natural ana nece
j. ssry rise in the value of real estate. tn
~ population Of Ohio at the beginning
~ the decade was two millions three hundre
and forty thousand souls; for which il u
r. pears that the increase in the capital of tn
I. state was produced at the ratio of sbo,
q forty-fve millions year to every on
million of the population. So that, in fac
:, the labor Of more than twelve hundre
thousand Of the people of Ohio is mad
an annual tribute to the English an
German money dealers. Kept at HON
how vast an impulse sixty golden million
year would give to the industries Of on
own people But instead Of trying to d.
crease this immense yearly payment to tn
Rolhschilds, the Barings, and others, III
10 constant effort of Grant and Boutwell, bs
10 been to enlarge it Squads of officials hav
10 been sent to Europe at large public o,
o' pense, to effect this object and after th
u presidential election, we may expect r,
~ newed and increased efforts 10 the sam
" direction.
But there is another phase Of this in
be portant business, which must not De ovel
- looked and that Is the serious embarras
III; ment to our foreign relations which n
cal
st. suits from the presence in Europe of /
ou. large part Of our public debt. But ft
W this unfortunate circumstance the Al,
~, bsma claims controversy would have bee
sx-
on adjusted more honornbly and sstisfscto,
~; lily to the people OF the United State
IRE But it was in the power Of British cant
he alists instantly TO project INTO America
" markets six or eight hundred millions