Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1879-10-16

nent on the subject of debt has always been
sound. 1t may be summed up IN a few words.
NO DEBTS TO BE CREATED IN TIME or pr.cr
sible when the war ends 80 PoS-
ne revolutionary War debt. at the inanynr
aalon OF the present form of Government, NAB
4, liss, amounted to $40 900 900 and Z ftar IN
cessiye refundngs, in longtime honds rus-
PAID OF by their redemption. finally in isss "as
Inc aebt created by the War Of 1872 After
retnnulng IN AZ per cent. bonds was aIso ,,a;d
In 1875, and at the close of that yesr th no p s
was practically free from debt. wig NAHUM
w Inc debt incurred on account of the Mex;can
y AT amounted TO $50, 552, Cos, the bonded deh1
bearing six per cent. interest r,,nn;,',. e 9cps
hye TO twenty years, and treasnrv neta aso IA
various atcs OF interest, from one mil ~ sS az
redeemed priar per o eeot All Of this debt was
amount not yet presented for redemntion s'i'aii
As a marked evidence Of Tho an.
W.; mri1m our National obligations of this deserjnt
ION nave heretofore been met II il Sra,h ~.
note that, during the War of lsio nv mvrlhy OF
on tne portion Of the debt held by British sub
bolder w1 +, regularly paid the agents of the
ruption of direct commercial infercor ne lt .
sometimes Obliged to resort To Giro -, peing
Of nepmen, uiTcnis routes for the transmission
AZ AZ p"S neh.; ma the fact remarked Iinon ~,
MI. eXander Trotter the British anth hpoh ~
standard work published in Isae n,lnr % n,,..
time The anthar Position and credit at that
aSt OF congress passed bv the first c sl'as Wy
enat assembled after The adontian &c III ~ gTess
ali tha ~ .ake provision for the payment az
a. ene outstanding engagements of the fsoye,n
nnent with degree of integrity which Il =, ~
~ ~ tne history OF the financial embarre ss, 70
bonoa Poslponed the claims of Creditors At
provided for. cieulIor were
rr Our war deDt resulting from the War for ~
Union amounted to about S. O00 600 ooo a "a ~, sno
In yaa 49, 70 ABOUT - 600 900 COO During the
rra e eaL there mas been no reduction of the no.
gregate amount, but there has been rad Ine ~
a. DO tne amount of the interest bearing dabt ~
9lS,soO9OO and the ucp' oI
KAT Es Of INTEREST HAVE BEEN so REDUCED
by refunding within the past year thar ,ha,o e.
an annual saving of S13 100 900 in Interest Th -
annual interest on the National debt reached Ire
hlghesL point about fourteen years ago when II
was $3.50 977697.S7. 1t is now reduced h sse ~.
90 %. yearly saving of S67 232 9s7 81 or abont
10rey per cent OF what was payable in 1861
when, at the close of the war; was urged unon,
thes country with so much force by the Secra
, .ary on the treasury. Mr.. Hugh McCulloch. has
Dorhe good 1ruit. Young men of this audianca
can remember when the Government of tbo
United states found great difficulty in barrow wv
ing SO smaH a sum as 50, 900 600 and for n con-
siderable part of it was compelled To nav as
high as twelve per cent Last sprino nv pa as 90
of improved and strengthened credit the Gov
ernment mad no trouble in borrowing. in the
single month of April, S225, 600 600 at four nor
cent interest. The amount offered in .b To-
month exceeded five hundred millions of doliars
was Sl59, 100000. oneiou
Let the policy of extinguishing the National
debt be adhered to. Let it be the fixed pnrnose
OF the people and all who administer the Govern.
ment 10 pay off the debt within thirtythree
years. 1t can be done by economy and prndence
without material increase of the burdens NJ
the people The payment of thrty.t hree mill
mons year upon the principal of the debt. or
INTO sinking fund for that purpose. viii with
Nation. ''Ds a"
That which is sound policy in National ana
State affairs, in regard to public debts. is be.
leve, also wise policy in local affairs and in
private aifairs. Let it be everywhere adopted,
IN pubic and private, and we may welcome the
have found the secret that will prolong their
stay and which will go far to make us indepen
dent in that, trust. distant day when fnan-
prosperity.