Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1873-05-08
HERALD.
SATURDAY, MAY 3, 1878.
The Public Debt.

The opposition and, so-called, indie
pendent" newspapers made terrible
howl because the ''public debt statement"
of February 1st, did not show decrease
In the debt, but, rather, that an appar-
ent increase was indicated. They sheer
ingly said "wc told you So They in
timated-nay, boldly charged that the
reported payments on account of the
Indebtedness of the United States and
7he corresponding decrease in the debt,
heretofore made, were false and fraud
ulent that the monthly statements,
published prior to November, 1872, were
made without foundation in fact, with
an intention to deceive the voters OF the
country, and were issued as electioneer-
ing documents to promote the reelection
of General Grant. We will show more
respect for their intelligence than integ
rity, by saying that they did not believe
these charges when they made them.
They know -or ought to have known
George 8. Boutwell, too well to think,
even for moment that he would stoop
TO anv such miserable deception. AS
we have said, they knew better. We
explained, at the time, that the apparent
increase of something less than half a
million of dollars was due to eXtraor-
binary causes. The extraordinary
expenditures for January were over
four millions of dollars and were
on account Of interest of Pacific railroad
bonds, deficiency in the post office de-
partment, an appropriation to the board
of public works of Washington, etc.
We ventured to predict that, thereafter,
these monthly statements would show
reduction in the public debt, and gave
our reasons for such belief, which it is
not necessary here to recapitulate or re-
spect. Our predictions have been veri-
fed. The statement, published in our
telegraphic columns yesterday morning,
shows the reduction of the public debt
10 be as follows Decrease of debt
during the past month, 50, 247, 485. go.
Decrease of debt since March 1, 1878,
1881, 544.57. Decrease of debt from
March 1, 1869 to March I, 1878, $685.
082, 559.4S. Thus the administration of
President Grant is again indicated, and
and another pledge of the republican
party redeemed. A reduction of our
national Indebtedness to the extent of
nearly four millions of dollars is good
showing for the first two months of the
new administration, especially when the
black pay" and Indian troubles are con-
sidered The result demonstrates that
the people were right in re-electing Gen
eral Grant, that he is true to his pledge
to economically administer the govern
ment The policy of the republican
party is being carried out, and with the
same economical administration of the
government we can, at the same rate of
decrease, wipe out the whole indebted
ness of the United States in less than
the ordinary and average life time of an
individual man. Should this be accom-
plished-and there seems to be no reason
to doubt its OBSERVATION-DISCLOSURES
grand achievement will be added to the
already long list of the triumphs of the
republican party and to the record of
great and noble acts done and services
rendered by them to our common coun-
try. While we congratulate the admin
istration, the republican party and the
whole country ON the result, we cannot
forbear lingering feeling of pity for
the opposition and independent" press
Their last howl is taken away. The ac-
ton of the Colfax Modocs suppressed
their feeble groans about ''McEnery's
wrongs, and now the administration,
by decreasing the public debt over two
and quarter millions of dollars during
the past month, have spiked their last
gun, and stified their last remaining
howl.