New-York tribune., 1880-10-04

From tls II will be seen that there has not been
q SINGLE wear since the close OF the in which the
debt less cash in the Treasnry. has not been re-
duced the year in which the smallest reduction
was made being that of 1924, covering the
period of the panic. in which the reduction a
little less than five million dollars. The next
smallest reduction was for the year 1S7S'79 when
the debt was reduced eight and halt million
dollars Now We are bounding along the wave
of prosperity and again reducing the debt at the
rate of over hundred million dollars per annum
while the interest-charge upon the remainder Of the
debt is growing small by degrees and most beauti-
fully less. AT the present rate OF decrease
the annual interest-charge will have been
reduced more than so per cent from its highest
point before the close of the present fiscal year and
probably before the close of the present Admins
tration b. Presidential periods as nearly as prac-
ticable the reduction of the public debt has been
follows:
july 1, 1869, to July l. 1873. 341 1873 787 OF
July | 1873, 10 July !. ISL ,s7'6G00'490 81 81
July l.. 1877, TO August 81, 80. 133,5s9.l4S 92
Total for fifteen years. ars........Ssss.O9j.1O4 -
During the first period the amount Of interest due
and unpaid, aud interest accrued but not actually
due was not stated by the Treasury Department,
and cannot now be ascertained The reduction Tor
that period is therefore the reduction Of the prin-
cipal Only 1t is probable that there
actual reduction of interest during that period
of about ten million dollars, perhaps
enonch 10 make the total reduction for fifteen
nearly or quite 5000 900, 600 The reduction Of the
annual charge stated by Presidential periods
has been as follows:
Angus 81. 1865, to July 1860. $25,453, 900 SO
Jniy l. 1869, TO July /, lS73..-.. N,474 1874 81
JuIv L 1873, to July /, 1S77..-.- Ass. 80 50
Juiy l. 1877 TO August 81, 1850. l4,l23.SOO %
,. c,,oao voars Szu.o1Gs5a3 ~
The remainder of the DEBT, principal and interest,
,ess cash in the Treasury the 31st Of August last
was 81. .024, 500, ,07i 81. This will be reduced to
S1 900 900 900 or less at the close of the present
6seal year. in all probability, unless Demo-
cratic success at the polls lntervenes to paralYzc
husi;ess and check the importation OF merchandise
,,oon which customs revenues are collected by the
Covcrrment. have estimated that $l25,OOOOOO
more of the pubc debt will be paid of during the
remainder of this fiscal year SupposIng this reduc-
.;n IN be m de in bonds bearing per cent interest,
.he reduction of the annual nterest-charge upon
TINS Indebtedness viii amoant TO p7.jOOOOO. there
;ll then be due or redeemable, III round numbers
s5s5 600 600 of bonds bearing interest at u and o
ver cent By refunding these securities at the raie
NJ which money can now be obtained oy
a. Government, there would result another
1o.ior IN the annual interest-charge OF
:. -. s7 200 OoO more even on short time bond.
- ,,t,e tt,e .,rouud that long tim bonds are not
now ,eou,red by the interests OF the Government
The six and five per cent bonds can All De pAi" VII
.nd capce,!rd within the n,xl five years. leaving a
debt If on,y about 81 2OOO OOO aI @ an 1i."ia' @
interest charge OF less than @oOOOo'ooo' II 'no