The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1878-09-17

a,j news matter gives evidence
''''',,. ....,,,c that is upon that part OF I'll
De Ps ~ t,,m tile presence Of the plagu'
ia. IN Interest Does Honest
~ N Pay:
~ Es,Iu =, any ciry's, or anymation's debt
7aa 7i.,oJ, =, is !, the per cent Of interest pal
= i,Jel,, borno interest they woul'
u, N,.,n,r,tiycly " harmless obligations. !
s~- i.,.,,:, on debts that gives then
!, w '. ,si,lt ,. as burdens. ltfoIlows there
- ,t,t IN % far us We reduce the rate o
~, m any individuals debt, or an.
s'.,'I, " ].5I or any nations debt, that tha
,sIuce the burden. II the deb
y. 4 per cent interest it calls for 50 OF
4. 400 Of principal every year, or SC'
w. w $1,000. Ii, however, by reasot
Jisprovcl s,,o credit a man isable to redac'
!, n, i,i.,e,, to !, per cent he has eased him
II d Il ope..ixth OF his burden, and il III
y :, ,.lrre it still further to ! per cent hi
=. ,,T.rsl himself to the extent OF one
AiHoi the burden ~
Tbsha is Just what the government o.
4. i'si,el States has finally been able tc
.,.,nnli.b on account Of its improved
IA weare indebted to II friend for q
sm d 4 circular recently issued by the
r.,,tr n Department, showing how since
O.rolsr it, ISL, the Government has
s,sl m to the Ist OF this month 2S mil
F,,.oI dollar, blythe gradually improved
si.u, Of it. credit.
Ia,,iopsrc,lit, like that Of an individ'
d. improves by two circumstances, viz;
,sait,to pay and willingness to pay, or,
1 aba words, by assured solvency and
st,Iv ,s,lrcd honesty. These are the
4, ,,.entiaI conditions Of good credit
,-o,, men or among nations, the world
NM. The reason why the Governments
o,ta vent down 50 low during the war
" baa.e people were afraid that the
,I.lEon could not be put down, or, II
,1Ir put down. that the debt would be
kseeSly enormous by reason OF thegreat
,g.dr,ion in the purchasing power of
mSaey. Had no doubt existed OF the
tsillSility Of the Government to pay the
d.s, oaehaIi OF the dcpreciatinginflucnce
sTat to deprcss it would have lifted at
,sn. becaue inasmuch rs the Gov
,ansnt Of the United States had always
Nd her debts heretofore there was no
raSuto suppose that she would rcpudi-
astay portion OF it this time.
ASon as the capitalists of the world
attht the party that had sympathized
Ith he rebellion during the war would
RLtG the war be able to persuade the
NPeto ppudiatc the national debt, as
ullpd would be the case, they began
sRoV willingness to lend the govern.
ntaHoHcy at a lower rate Of interest, or,
! ether words, to exchange six per
Y tdnds for five per cents. Ac'
ansy We see, after the act
enEhtning the public credit had passed
CltEes, and after it E.s plainly visible
tt4the original greehbOck Juror got up
!PehdletOn and Others, would notbe,
Hat apOpular frenzy, TINT the govern
n'stVs able to exchange one hundred
lHaH OiS per cents for Il corresponding
H'GH,Oi6Per cents, thus saving on that
stnHaciOn from the lst day OF Decem'
r,Nl,t hedatc OF its consummation, up
sSFsRber lA OF this year, the sum oi
HNa.os, KIM hnadmi and yG1y ho'Udnd
Aed-a sum that more than ex'
0et oas'thirI OF the appraised value O.
al4e nal and personal property in Ohio
WGay.
taoUnsel by this evidence OF i'm
'Vvd Telit in the estimation Of thu
''Fa' the Government, in less than foul
nouns after this transaction, viz: on tht
s@oi Narh, lS79, was able to take VI
aWaOON Of 6 per cent. bonds b,
y s@f'ePoHding amount of ) per cents
1a'ay avingin interest up to the LIST o
S'TaOef Gf millions, Jour hundred dnC
lw 0opGad, hra hundred and thirty
-sssidH md &iHythns cents more, or
-NuaI to the appraised value Of all tn,
9sal estate in the first, second, third
-4u and seventh wards of the city o
'o'slias' . as returned Tor this year.
M@e lSday yoi June 1873, the Govern
t4'Feli' Still holding to its improved
9s 70 millions more Of ) per cen
.1SSee thus exchanged for Opcr cents
~ -sNeaFious intervals thereafter simila
aase were effected, until, finally, OF
wa oiy Of December 1916, the Govern
.s,. ~, vas able to do still hc.tcr in the wa,
lA'nsnp per cent bonds, and at tlla
~. ~ put out its first 10 millions Of ~ pe
.S. ,ao'na'in exchange iorGpcrccnts. Til
IN es "cu'red less than two year
I. %0ne year and nine months ago OF
H.. !" Of this month, and yet, in thu
= S'' period, the Government saved, ii il
s,.,. Wy Of interest, Il sum more thai
MI "'0e assessed value of all the per
/ 4. NJ ! iP,TpeHyin ,'!, the First Ward Of III
E% y,., Wheeling, " viz: $50, $4,000. -
Ia aJI II UssnSer ysss b /, 1870, up to septem
Ss n ~, ", is III, the Government took II
| N, SSs"9@oot y. the 0 per cent bonds wit
/ pI '1eaaiot !! per cents, and thon stor
:, ..N aSa Why Because. although h
/ si1i.s sa'aSfited TO put out two hnndrc
|is,S,o sa' Of !, said bonds, the Secretary Of Il,
a 's'y =. !? discovered that he could do be
IN ~, s IA olheFwords, that he could say
ss,S,.S r.'s Interest by taking up six p,
s'sesac'ly oneGird hi, lVI' Of tbo "% in,eros prs'
/ t,,,aT, T'oOer !, ISL, he placed ten mi
\ hs,@s,!l " lOaF per cent bonds, and with Ii
i gS.,tso tI,Ss o'thesc bonds, and further ISL,