The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1882-08-10
"paying on the Debt To Fist. !"

While In Iineland, N. !. recently
We picked upn copy OF The South
Jersey Times and In an editorial mr..
ticlc read the following:
We arc paying of the debt too
fa~t; lct coming generations bear
some Of the burdens Of the grcat
war Of preservation and union"
We Immediately sent n note TO M
expert hank clerk In vincland and
asked him to compute for us the
length or time IL would take II 81 per
cen: bond to double itself NJ COM
pound interest. We received the
following answer:
~ years, intcr.stpayal' G annually.
III {" . = mi.nnh,,alIy.
II /" tcrly.
Now then, II the present debt aver-
q ,ed 81 per cent. payable semi.annu-
ally, 1t would cost the present gcner-
alton twice the present amount OF
the debt IN interest money t. carr y
II along till such tim. rs the next
generation commenced paying 1t.
This generation would pay two
dollars In intcres. money In Greer to
compel the mkt generation to pay
one dollar Of principal. II would be
saving the people their burden O.
taxation Il good Zeal ~ the rider
saved his horse the burden OF the
sr.s' by taking it upon his own should
ers.
In sixteen years we will have paid
as much in interest money rs the
principal amounts to at the present
time. And thcs we begin to pay of
the debt again in interest money, So
TINT 1T the end OF 81 years 1t will
have Lecn paid OF twice.
Then Let us suppose tho next gen.
Grafton desires to shirk the payment
OF the debt Off upon the shoulders OF
the next generation. 1t pays inter-
est for thilty-two years more pay
ing the debt twicel in order that the
future generation may have the blcs.
sed privilege Of contributing some.
thing toward u debt which the shy
locks OF lsGt)-5 managed to filstcn
upon the people Of the United States
In the first place it would not re.
lease this generation Of any OF It's
burden hy carrying the debt ovcl
till the next generation.
In the second place it l. not only
base and cowardly to ask future
generation to pay debt which " !.
contracted. but il is unpatriotic an,
impolitic. Let 1t once be established
that one generation has u right I.
create debt for succeeding genera
tions TO pay, and there would be NJ
end to national debts.
No matter what purpose, how holy
patriotic or useful, the debt ma,
have been created for, the generation
that incnrs it ought to pay II.
/ Su Il were the teachings OF tn
Fathers OF the Republic--men lik
Franklin. Paine, Washington an
Jackson. Such are the from oting'
Of every patriotic heart in the Ian
today.
/ The debt can be paid of With
four years without amy further bun
den OF taxation with not more tina
800. 900. 900 to $2O0, OOO,OOO Of infid
ton OF paper money.
Not only will the burden Of inter
est money he saved by paying o
. the principal, but the enormous co:
and expense Of keeping up an arm.
OF tax collectors. treasury clerks, ct
, will be saved. The great army !
Office holders who run the nj;
chine" Of politics will have 10 Iii
: band and 90 to work to earn the
: daily bread.
! Let the debt therefore be paid ;
!. once. in order that not only The nc.
generation, but the present, may !
> released from its enormous cxac
1 ions.
This cry OF letting the next gen
. ration bear portion Of the vi
deb, OF the Union il being urged |
persons who want to sec the accur
cd debt perpetuated.
To aii such let us give due an
timely warning that the people n
in no condition to he frifled wit
!. The people have hail just about 4
I they want OF this Shylock game
I plumber. There may be such a THU
| As carrying the hoad business L
!. far.-FChicaro Sentinel.