The Ottawa free trader. [volume] (Ottawa, Ill.) 1843-1916, 1878-09-28

ever. took the government through the McXi-
can war; spending $3OO,OOOOOO in the job and
paving every dollar of the expense IN gold,
and at the end of the war the government per
cent. bonds were worth 1872 in London-equal
to par at 30 per cent. interest That was about
the only real test specimen OF democratic imam
cicring this country has yet seen IN great,
trying emergency.
To Reduce Our EXPENSES, both Individual ana
Corporate.
Whereas the assessment OF La Sale county
was, as returned by the assessors of the several
towns and equalized by the Board of Super
visors, for the year 1877, $2S,S66,914, and for
the year 1873, S26,6lS,571, a depreciation I'M
taxable property of So 26S, 4O3 and if the AS
scssment had been taken in September instead
of May, there would be more of depreciation,
as stock steers are sold for onequarter less
than in May last, hogs have been largely de-
stroyed by disease, grain and all farm products
are lower III price. The decrease in Kendall
county Is greater than III La Sale; assessed IN
1877, was $6613,157; 1873, $500, 406, de-
crease of 81, 10S,551. At that rate of decrease
in five years there would not be any taxable
property in the county left for assessment,
while the taxable property Of our state has de-
creased, as shown by the Board Of Equaliza-
ton, $2G3O23,242 between 1873 and 1877,
while capital stocks of railroads entirely dis
appeared from the assessment, together with
3O2 incorporated companies, between the years
of 1876 and 1877, taking many more millions
from the assessment rolls OF the states taxable
personal property. And as the last Legislature
appropriated for the various purposes S6,ol4,-
142 to meet the public necessities for two
wears. one-half of which was collected in 1871
the other half will be collected in 1873, which
will increase the per ccntagc on our farms and
farm products As our state is comparatively
out of debt, we should reduce our state eX
penses in proportion to the decrease of taxable
property in the state.
Our [. =. Government had in circulation in
the various forms in 1860 S946, 1918 which
did not bear interest. The total debt of the
United States, August Dist, 1865, was $2S45,
9O7 ,62G, which would leave in bonds $500,
361 1856
| On the 31st of March last the principal OF
the coin debt was $1,721 ,63GS5O,
During the month of April the increase OF
the principal of that debt was S13,90SSOO.
During the month of May the increase was
$33 100000 -
During June it was $12,OOOOOO.
During July it was $l4, 942,25O.
And the total on the 3lst of July was S1,795,
671 900, showing an increase OF the principal
of the debt in four months OF S73,94l 900.
The total annual interest on the 31st OF
March was 1921 ,674,544. During April the
increase was S609,92S; during May 1t was
81 545, 900, in June $5O5, 900, IN July 1926 35
making an increase of coin interest in foul
months of $3,0SG, 463 and the total annual
payment amounts to S94,76l, O01.
| : During the same four months there has beer
no reduction of the 5 per cent bonds. The
prr cents have been reduced S2,O5S,95O; the
I41a per cents, however, have been increased
s4600O0OO, and the per cents S33000,0O0.
For the last thirteen years the best energies
of the people have been eXerted to reduce TIT
national Indebtedness, and have reduced i
only S544 690,G42 And as the debt now il
largely in com bonds, the government shoult
have an equal amount in coin, with the Dond
pavablc in coin if the Secretary has got th'
same as he promises to pay. Secretary Sher
man saws there is only 1929, 49,, 563 in coin il
the United States Treasury which Is no
enough to pay one dollar on the hundred o
The United States debt, principal and interest
while we have paid the National Bank more
for oaning the 10 per cent. Government credl
land 80 per cent of their own Indebtedness than
we have paid on the public debt. Our Con
rress has changed the public debt into con
|honds without Il corresponding benefit, ant
without or request thereby approaching the
ldebt and tepreciating the value OF all KINDS
property and the products OF labor nearly one
Ihalf. thereby lessening our means to pay take
and the public debt If the minis were run a
their fullest capacity they could not coin silve
to pay one-half the interest on the pubic DEB
as fast us it accumuatcs, even II the Duliioi
were IA free gift to the Government. 30 IL i
lonlv "a question of time when we Will be II
peon slavery, similar to the poems OF Mexico
land some parts of Europe. 1t is Illuminating
Ito look on the little boys of to-day that VIII b'
1.-The slaves of capital and the little girls wh'
Imov bp doomed to slavery and to be the moth
Iers of future slaves, made so by the stupid l
lnot vicious. legislation OF their fathers. Hence
1.-The necessity of reducing our expenses, both ID
ldivldual and corporate. We would reverse th
lbond making machine and set IL 10 making
rreenbacks, and if we can do no better, put II
j the same clause of redemption that Is IN the IL
Ito honds rcdeemable after ten years, at tn
lon,ion of the Government for 30 years, and
fhiu Iaral tender for all debts OF and to IN
IGoyernment and thereby commence to pay tn
bonds according to the original contract, thel
tcrcmatc the bonds and make it penal offens
flor the United States Treasurer to issue anothe
IC. ). coin bond. JOIN ;. ARMSTRONG
In the Board of Equalization, now IN se'
sion ot Springfield, the committee on land
made their report the other day, and the r,