Oxford Democrat. [volume] (Paris, Me.) 1833-1933, 1879-06-10
Interesi.6earmg dtIt oct. 81, 1865.
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6S6Oss 80 g694a, as !,
| 100000 "a 1900 Of
q, 67,Ai.7GO s93,Seo $50 {"
The above official figures show that the
total intCrcSt-bcaring debt of the Govern
meut has been reduced from oct. 81, lS65,
to June /, 1879. 10 the amount OF $685.
80. 7l9; that the average rate of interest
has been reduced from G.$ per cent TO As
per cent. and that the payment of interest
has been reduced by Sji, j6t, l90.lO per an
mum.
And even the above fails to show the
full measure of actual reduction, as in the
process Of refundinS there are now no less
than 1864. j02 $50 called bonds OF the > and
per cents that mature prior To the 2tth of
July next, large portion of which ncccS-
Sarily appear in the June statement. al
though part Of the 1 per cents included
therein have been issued 10 redeem them.
and in the August statement they will dis
appear. making a further large decrease in
the bonded debt and in the apparent annual
interest charge
So much for the intcre>t-bcaring debt
and the remarkable success that has at
tended the resumption and rcnndiug policy
of the Republican party. But that does
not show all that has been accomplished,
for the net reduction Of the total bonded
and uou-intereSt bearing debt has been far
greater. The Treasury records show that
the total debt reached It's highest point In
August 1865, when il was 3, 100, a., j7l.43.
The total debt less cash in the Treasury
June /. 1879, by the official statement was
- .O27. Isl 46S -. showing a net reduction
Of $50 2i9, 1924, which will also be
further reduced 10y the cancellation of
bonds during June and July
The strength OF this financial record
could not be more consplcuously conceded
than by the weak and ridiculous manner in
which the So-callcd Grecnback Convention
has cvaded any direct attack uponit The
attempt 10 play upon the words "coin in
tereSt' because under management OF the
finances every mans dollar has become
equal with coin, while iusinuating the pal
pable falSehOod that the aggregate interest
has been increased, is too silly to deceive
any person with intelligence enough 10
read, and too dishonest 10 Dee tolerated by
any right-mnded man.
The shameless and stupid effort 10 falSify
an actual reduction OF more than one-t third
of the amount of annual interest on the
public debt, is the leading feature OF the
platform. and 1t shows conCluSiycly that
resumption has swept away all the founda-
tionS of the GrecnbaCk movement and that
il no longer means anything hut an effort of
SorcheadS and demaSogueS 20 make them
selves conspicuous az the expense of the
commons ense of the people.
The honest, sobcr-muded voters OF this
.. Q La. ri 81 h..
proceedings Of the yelling and huStling
crowd at Portland Yesterday, 10 Judge how
FAR such an aS>emblage is fitted 20 secure a
wise administration OF public affairs. If
there appeared any person who has earned
the right 10 claim the public confidence OF
the people OF Maine, or if any words OF
wisdom were uttered the fact fails 10 ap-
pear II does appear. however, that while
there was but slight attendance from many
counties, the managers sgcCeeded in pack
ing the hall with 4 noisy and diSorderly
crowd Of nominal delegates" and that the
Democratic State Committee were in close
communion with the few demagogueS who
hope 10 obtain favor by dccoying Rcpubli-
can GrconbaCkcrs into the Democratic
camp. The pretenSe of refusal To Cuale>cc
Is entirely too thin. when il is well known
that GrcenhackiSm in this State means
Democracy and that the Bourbon leaders
have long since turned their whole atten-
tion 20 running the GrccnhaCk machine in
their own interest
The nomination OF Joseph l.. Smith, on
a platform OF humbug was emincntly lit
ting. There i not a man in Maine who has
a more thorough contempt for the financial
doctrines of the GreenbaCkerS than he. and
there could hardly be found a man who
more fully represents all that they 80 clam
Orously denOunce. \ wealthy capitalist, a
banker, bOnd-hOlder, and 4 uSurer, his
appearance on the Greenback platform is
simply grotesque; and 10 all who know
him it means simply political ambition and
4 desire to crafty spite against the Repub-
lican party.
We are glad he has been chosen TO act Is
the hgure-head of the Greenback-Dem
cratic campaign, for his position repre-
sentS admirably the amount of sincerity to
be found in the movement" Such delu-
sion As that of last year will run for a
time, but there is a great reserve fund OF
common sense among the people, and be-
fore the coming campaign is over the
Smiths and Ladds and Pickards and Charles
p. Browns who are playing a Democratic
game for their own purposes will learn that
they cannot 50 easily humbug voters a
second time.
Now that these demagogues have again
shown their hands, let all who believe in
maintaining the national honor, in reduc-
ing our debt and the burden of interest,
and giving impulse To the era of prosperity
which has already dawned with our return
TO a sound financial basis, 20 to work with
a will in organizing for rousing Republi-
can victory in September.