, 1880-02-10
1sTFUNDING.


Special Dtspd&ch to 1'hs Ehleuao Tribune.
wAslEIS0Ts,S, D. G., feb. 0.-Mr. Carlia!c, Of
the Wnys nnd Mems Committee, was asked this
evening whut he thought nf JudRe kcllcy's
plau for rcfundinB tho public debt. ~ hayo
see.l hin plan, ns published In tho newspapers,
replied Mr. Cnrllalc, but hayo not examined
It carefully Iptysllmc, however, It ts aithstnl,-
TALLY tho same pfan TINT Judge Kelley hts been
advocating cyor sfncc this matter has bcen under
consideration. think Tint tho5 and per cents
can be refunded in bonds bcaring interest ut
tho r1lsc Of W per cent per annlln, and
the surplus money III tho Treasury, II
there should be my used In paying oshor por-
tto1Is of tho public debt tu sltch mnrtier us to
effect very tRrge saving to tho Government.
In nrlcr tu exp'nin this 1t is necessary to Bnte
tho present condition Of tho public debt. Ex-
Guiding tho $ls,41h0oo of per cent bonds which
mature next December. and which tho Secretary
Of the Treasury says can probubly bG pnd ont
Of thu surplus revenues, thcro will remain tho
sum Ut $1G., ,JiG 100 Of s and per cent
noNps WHICH MATURE
In May, June, md July, 1881. Of this, $a5{ ,9IG
300 tcnrs interest at tho rato OF O per cont, a,d
$508, 440.3,D bcnrs interest ut the rnte Ol s per
cent. Then therc arc fssO 0on, ,000 If ~ per cent
bonds which mature in 1891, and SIN. .s45 no, III
cEu,aing what Ia known rs tho rcfundEng ccrtf-
Gates bcurinx interest ut per cert ,t,ti mat,tr-
~
ment cnn pay annually upon tho public debt
for the next fifteen or sixteen ycars as
much as *5o,0000oo: sbut, assuming that
It cnn, my plan would ho to
refund tho nntl per cont bonds, ns I suited. In
bonds bcnrinx 3h pcr cent, md takc theso nn-
ntinl payments, first tlp1n tho bonls bearing "
per cent, and then nrnn those bearing per
G6, 100, tho alnu,nt Of and PR cnnts, IN six-
teen yenrs, tho rt.sttst Nulld bc ~ fltiwH: NO
wssiilA pay out Ut tito 1teAR,iEy In antcrCst ,pnl
During the sAm0 time w0 wond require to ply
upon t!,o n,lMtstand!ns a ~ AID per cent bouds
the sum or t0A, ,4o6 by way OF interest,
AAKtNu An A1fs1trlATT
Of interest, according to tho plan suggested by
Judge kelloy. 1T Syt..,u.l,11S According Ia tho
pln,i which | fnypr these annunl payments would
es s npnSh ell rcst ax' w" s% @ o ss d Sws 5 T. So s
hnMls refunded il a,i pr cents would be ss:;,-
D oi a' IL ' per ccnts ] rccoe @ ri fn,n Sn,iG tie 10
safsr;S yssf NS ,atcrest es + 5nak!nS a1 9
frrcnc0 IN tho Interest ncco!1nt nlane Of
$H4.6l5;W I,4t + Is objected TINT Il this PIN,
aa they Will not n,aiars fnTT scsSrail ycarx 10
come. This undoubtedly is true, hut think It
II. I'll Tine @ III s ua ar to e r'as mas
viii rot exceed per cert, and viii bs ntc6
below thAt NH thu bonds approach H1ntuFlty.
Assuming that to be ~. tho per cent upon tho
$79s go U1 Ia ~, f.slB. an1 etfuctng this from
tho difference in interest, rs before stated leaves
still 4 l,alnneo agninat Judge Krltey'a plan at
$lOS 100000. I!esides this, after tho $15j 00, GU
lms bccn pntd according to ths plan, tho
REMA1hpEit OF TIE PUBLIC Debt
thun outstanding will he In mich better condi-
ti0n-that Is. bearing lDwDr rMte uf Interest,"
thin It will according to tho other plan. Au-
cortalux to Judge kelley's plan. ut tho end nf
Btxtcsn years there will oe outstanding tho sism
OF &h0, D1 for ~ and per cents, tho atirunl
interest upnn which will ho III, 8x1 xs9, whcrcta,
II tho MntittMl pnyMents nrc nppllrtl upon the
and 4h per cents and tho ha and ds refunded,
there viii rcnlAiA outstanding at the end Of tho
tine TIE sumo amount, Of public debt, h,t
ai per cent. lnaktaE mn atlnrHl In
tGrcat Ut $:N,E14I4 ur $5,NEl,ee8t less than
would bo tho cAse by tho Otlser plan. II tho
Government can my t0rs than *59, ,0o0 100 annu.
nlly up3n tho public debt. tho result In tho end
would b1 substantially tho sAme so fur us tho
merits OF tho two pana lre concerned u,thnuxh
tho figures would bo somuwhnt tlittercnt, tberp
would still be largo difference ~ fnv0r Of tho
plnn which proposes ti fund tho and 0 per
conla, bnth aa regards tho Hm0llnt 0f interest
paid alld tho condition In which tho public 1sbt
would be LOFT after tho payMeists wcrn !nat!e"
This plan for .ref.tndIng thu debt will bv pre-
scnted tn tho Why's and Means Cou,Mitto1 as q
tRt it1JfT fnr NIL nthnr t1infE