Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1880-12-17

ei3ihN,nhi "
IN" nmuaut due the sinking fund for this year
was s}7 lal Gi3 ji. There was applied thcrcto
thu rum Of si300i az 81, being si3Ni2 Hi3s6
IN tNcc-- u the actual requirements for the
ycnr.
The aggregate If the revenues from nll sources
during the fscn year cndrd June 80 1850 was
| S.ta3 j2G 6lugS mn increase over the preceding
year us $50 Ggp 81 The receipts thus tnr, OF
| the current ycnr together with the estimated re-
cpipts for the remainder of the year amount 70
$3.50 400 900 which will b. sufficient 20 meut the
rstimntcd expenditures If The year and leave II
surplus of $50 900 900
II Is fortunate that this large surpins revenue
ucrtrr ~ npprind when il may W. directly mp
Piled To The payment ~ the public debt soon Ia be
redeetnnhlr M public duty has been more con.
Nnntly cherished n Tie United states thnn The
policy ~ paying the nntions' debt ~ rapidly -
| possible.
The dct, of tho United States. lcas cu. Ia the
treasnry and exclusive of Becruing interest ~
| tanned ~ maximum of ~ 700 49, 5fl.1j ~
August 1850. aud bn- since that time been re-
| luecd tp - $50 Ola 50i.6j, ~ the prineipni q
the debt \ los 75s 100 has been pnid rlncc Mnreh
| ! 1877 cfplting an annual shying ~ interest Ut
Il lg7 igJ The hinder 81 Interest has
MIS- been diminished Nv the sale II bonds bearing
Il low rntc ii interest md the application u the
proceeds To- the redemption Of bonds bcnfing a
higher rnte. The annual saving thus secured
sincr March I 1915 is 81 go l63.bn.
within short period over slx hundred nil
lions of and 4 per cent bonds will become ie-
doemabc. lhis presents very favorable oppOr.
tnnity nGl only ~ further reduce the principal 1i
the debt but alao u reduce The rate Of inter
~ on that which will remain unpaid cnli the
attention Of congress 10 the Views expressed on
this subject BY the secretary ~ tha trcn'ury ~
his annual report and recommend prompt legsln-
ton, a. enable the treasury department IL c1In-
~ lta L. la
mature.
sprcig PAYaEsTs.
The continuance u specie puyiaents hat not
been interrupted " endangered since the dnte "i
resumption. II has contributed greatly 10 the r.,
yiYa - business aud ~ our remarkable prR-
peity. The fears that preceded nhd ureoInpa-
MED resumption have proved gtunndlcss. no
considerable amount ~ United STAIRS notes have
besn presented foe redemption, willis very large
sums ~ gold bullion both domestic and imported,
are taken Is thr nints and exchanged igr coin ~
notes. The increase 81 coin and bullion % the
United state. siIee January ! 1879, Z Estimated
* s22T jna, 12s.
There are dill ii existence uncaneeleJ, s3i6 =
Gsl OlG % ni.ed Stass legal tender notes. THESE
notes we're authorized ~ = war measuro iaade
rptsssnry TIL the eEigrnoiRs ~ the conflict III
which lhe lited stats wa then engaged. The
ptesergaiia II the Nations existence required,
ii tAe Judgment ui congress 10 f.nc u legal ten
IN paper anney. Ihut IL served well this pur-
pose f1r winch 4 WIS er.ated i not questioned, but
the employment u tbe notes ~ paper money in
definitely after tie accomplishment Di the object
re which they we're provided was not contam.
plated by The trainers ~ The law under which
they wer Issued. Thee notes long since became
Ike ANY other pecuuiary obligation III the gov
ef1linent debt n IL paid and, when paid ~ be
cancelled ~ mere evidence q an Indebtedness no
lougef exciting. | therefore repeat what was