Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1878-10-03
TERMS. $500 PER YEAR
WHOLE NO. 1851.

Dor, for taera il honest labor. shall
all have alike honest money ICheersl
La the foregoing speech, President:
Haya' ha4 given the figures in regard
to the nuhhc deb, interest, expendi-
lures. etc. in round rnmhers In
his speech before the Minnesota State
Agricultural Society. he made more
detailed statement From it we sub.
jim the following statistics
TIE NATIONAL DEBT.
The total amount Of interest bear
ing debt at the time 1t reached its
highest point, the 31st OF August.
1865, Was as follows:
4 per cent bonds -. -. S6is.127 9s
. per cent bonds ........ 269, ,727 IS
6 per cent bonds. l,o64, IL, 279 So
$40 q. 5. notes. ...... sSo,000,o00 90
Compound interest notes, G
per cent. ......... 2lT024. l60 90
Total interest>boaring debt 81, 1891, $50, 2s4 90
The total annual interest
ShtFge aiHouiteA 20, i9V,s9i,oSf 81
By reducing The debt, thus
strengthening the national credit,
the government has been enabled to
fund large part of it's indebtedness
bearing six per cent. interest and
more, in 4 and per cent. bonds.
Thus the total interest bearing debt,
August |, 1878 was as follows:
8 per cent Navy pension fund. s IA Ooe, 900
per cent bonds ....-........ ll2.s5o,00o
- per cents ............ 246,000,000
9 per cents $50. .......... 7SS, 56l, $50
Total present int'st-bcarng DIT 81 ,s0a, ca 900
The interest on which amounts to
100 sum Of sos, ISL ,o07 so per annum.
1t thus appears that in thirteen yrs.
the interest bearing debt has been
reduced from So 381 $50, 294 SO to
ST 800 GIT 900 /; g gain in the amt
of the interest bearing debt of s571,-
852,394 SO, The reduction of the
annual interest charge is $50, 796..
600 81 or more than fifty per cent OF
what We now pay.
TAx ALTON
The burden of taxation has been
rednced since 1866. the first year af-
ter the war, as follow.
The taxes in 1866 were
Customs. 1910, 046.65l IS
Internal rev,
erue. 49,. 300 ,226,slS42
The taxes in 1878 were
Customs. :. $3.50, 170, 6s02o
Internal rev>
cnue .1l0,5sl ,624 IA
-- $40, 1852 ,304 "a
Reduction of taxation since
1867. ............ S247. 52l, leo 06
Id1ation during the gear Of tie panic.
1878 customs. ............ Slss, 0s9. 500 10
Internal revenue. $50. 1l3, 729 ,Sl4 Ia
Total ......... S3o1, S1S, 1886, 81
lsTs..... ................ 240,752. 304 "a
Reduction since the panic SOL ,066, 53l 90
Expenditures
The expenditures have been reduced since
The end of the war az follows:
1867 Expenditures, includ-
ing pensions and interest. 1857, 542, 675 l6
1S7S.. ........ -. ...... $50, 1854 1926 so
Reduction of expenses. $3.50, SIS ,34s s6
Expenditures tie gear of the panic.
1873 ...................S $500, 345, 245 33
1875. =. .............. 236, 1874 1926 so
Reduction in five years. $50, $50, 9ls SO
THE CURRENCY.
The improvement in the currency
since the close of the war has been
very great. In 1865 the paper eur
rency of the country consisted Of
Greenbacks ...... -. 1892 767 604
National bank notes ..... l76.2l3, 955
fractlona Currency. 26,344, 742
Oid demand Noes ........... 402, 965
Treasury notes, compound inter-
est notes and state bank notes
estimated. .................. 100 600, 900
Total. ....................S7 1886, us, 1865
Its value was so 32-l00 on the dol
lar in coin, and it's total value in coin
was $500, 900, $3.50.
In 1878 our paper currency consist
ed Of
Greenbacks. ............. S946, GSl ,01600
National bank notes $500. 324, 5l4 ,2S4 90
Fractional currency. ........ | 547, 1853 n
Total. $685.. S6S7, 743, les 81
Each dollar of paper currency is
now worth 991 cents in coin, and the
total value in coin of our paper cur.
rency is more than 1854 100000.