Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1876-10-07
AMERICAN FINANCES.

management OF the tountry.l Such as
sertiolls are easily maize, and may have
some effect with tile ignorant, non
thinking portion Of the community, Of.
which the Democratic party is so<iargely
colnposel. OF all parties in the world,
the Democratic party is in the worst COLI
ltlition to crilicise the financial policy OF
another party. The financial record OF
that party will not bear the closest scru-
tiny, if, indeed, it will bear any scrutiny
at ALL The last time the Democratic
party was in power, the country WAS at
peace. There were no extraordinary ex-
penses. Yet, in the four years of Blu
chsnaii's administration the country was
plunged into a debt of over 100000. 600,
Butthis is not all. Even at a high rate
of interest, 10 per cent, the bonds could
mot be sold ut par. So low was the credit
of the nation under Democratic manage
ment, that for the debts which were ex-
I'travig;mtly being incurred. interest at the
rate of Is to Is per cent. had 10 be paid.
Such is the financial record OF the Dem
ocratic party in control OF the national
affairs. us written in history 9iis s-'h
The Republicanparty came into power
! in 1860, with this peace-created debt. and
Democratic credit, and rate of interest on
hand. The country was plunged into
war. The necessarily great expense OF
! this increased the debt ut the rate of up
wards of 5000, 100000 per year, and in
1866 the total burden was $2,7S3,425,S79.
/ 1.-The greater part of this immense debt
! bore interest ut the rate of six per cent.
J per s,nnuin.d How does this compare
with the Democratic interest ? So mulch
/ greater was the cOnfidencepf the moneyed
world IN the financial management and
Iintegritylotlthe Republican party, that
.liey could borrow thousands of millions
of dollars au almosta third the rate of
Interest that the Democratic party could
borrow sixty millions. ii-11 Ioi 9la''il'
/ But this is hot all. In time of peace
the Democratic party ran the nation
largely intordebt., On the other hand.
the Republican party since the war end
ed, has constantly reduced the debt; aud
not only this, they have been constantly
reducing the rates of interest Since the
war ended nearly S700.OOO,OO0 OF the
| debt has been paid, andinstcad of finding
i nf1if LAT fnr l.
Is to- ls'per1 cent. interest, our AZ per
| cent, bonds are quoted above par. The
contrast is great-so great that it ill-be-
comes Democratic organs to pirate about
the Republican acknowledgement of
finances. -, ftr.A.
Again We hear much about the dis
honesty and corruption of the Republic
can party. Do our readers suppose that
if there was any such dishonesty us is
talked of that the financial condition of
the country would be such as it is 1t
does not stand to reason. Such flagrant
dishonesty woulsl impair the credit of
any country. however great its resources.
! The condition of our financial affairs is
Lthe best rcf,itation of these charges that
can be made. n9au 81 "iFn
If there was no other reason why the
Republican party should be kept in
power. the above comparison of the
/ finaiicil exhibit Of the two parties is
more than sufficient. 1t is very easy to
find fault with the management OF the,
| finances of our government, but little
lcomparison shows that she f:lult-finders
ARE complaining about that of which
they Know nothing. ''''if
The condition of our moneycd affairs
| is the admiration of the European fillan-
cial world The money markets Of that
country are clanoring for our bonds
and are every year willing to take them
ut a lower. rate OF interest. This is the
result of Republican management. How
| was it i'll Democratic times? Thereon
! parisoiI is Odions. p sea "ii'''2 3h
Michigan came under Republican rule
about 20 years ago, inlieiitiIIg a large
debt from the Democratic party How
is it 10 day 2 For several years Michi-
gan has been prepared to pay her iii-
lebtedness. bus could not because so
high was the credit of the state that
holders would not part with the bonds.
The state has offered as high us fifteen
per cent. premium for her seven per cent.
bonds, bat cannot get them ut ally price.
Michigan. under Republican rule, wants
to, but cannot, pay off her debt until
; lis due and interest stops. Our Demo
cratic friends will not want to compare
this with the condition of some states
under Democratic rule. In fact, there is
no state under their rule where this is
the case. 1t is because tile financial
world has not confidence i'm the Demo.
cratic party. 1t does not believe in theil
promises. and the prices of Democratic
: bonds shows that it despises their record
If. the Republican party holds control
of the governmental few years longer the
credit of the nation will be as high as
that of the state of Michigan, and VIZ
predict that its bonds can soon be placed
at three and a half aud four per cent.
The Democratic organs may find fault
but history shows that no party. in tn,
world has ever before shown such a mag
niticent resut,qas has the Republican
partp in the management of the govern