The Bossier banner. [volume] (Bellevue, Bossier Parish, La.) 1859-1952, 1882-07-20
The Treasury statement for jane


The Treasury statement for Jane
shows that during the month thu
national debt was decreased $12,
$50, 1895, and during the fiscal yeal
just ended the amount paid aud dis
charged has been S151 1854 1851, OF
an average of over twelve million
six hundred thousand dollars pei
month. Notwithstanding these ex.
traordinary payments, making the
most rapid reduction in the debt
that any nation of the world has
ever been able to accomplish, it is
rather early for those living who
voted before the beginning of the
war to expect to see the end of the
debt that was created by that war.
There still remains unpaid the i'm
mense sum ofS1,91s,312,949, which,
at the same rate of reduction, would
require until the year 1895 to dis
charge. Of this sum, s43S, 241, 7SS
S43S,24l,7 SS bears no interest, is
held by the people and circulates
among them as currency for the
transaction of business. The total
interest bearing debt is 81, 49,, 51O,-
400, of which s46O, 46l ,O54 bears in.
terest at 81 per cent, $3.50, 0O0, 900
at a per cent, and the balance at 4
per cent. The 81 per cents formerly
bore interest at 5 and 6 per cent,
but were extended by Secretary
Window at the lower rate, and are
now being paid off at about the rate
mentioned above. They will be
paid before the others because they
became due first. The Al per cents.
do not become due until September,
1891, whereas at the present rate of
payment the 81 per cents. will all be,
paid off by 1886 or 1886. If the ma
ton took rest from debt paying
during the five years that would
elapse between that and 1891 and
begin again merely at the same rate,
The A per cents would be disposed
Of by 1898, and the 4 per cents do
not become due until July, 1907, and
would then require five years at our.
present rate, oruntil 1912 to dispose
of it all. The debt certainly cannot
be paid until it becomes due, unless
the Government is willing TO pay
such an amount as the holders of
the bonds see fit to accept for them.
bis is why it is that old 5 and 6
|er cent. bonds are worth less than
1O1, while AZ per cents are worth
over ia, and the 4 per cents over
119. People generally would sup.
pose that the bond bearing tile most
interest would be worth the most
money, but in this the case is re.
yersed. The length of time, and the
rate of payment going forward are
of controlling importance, the credit
of the nation being absolutely be-
yond question. This makes the Sc.
curities bearing the less interest and
having the longer to run worth far
more than those which bear the
greater interest. The credit is main.s
tanned by prompt payment of the
debt at maturity of both principal
and interest, and holding a sufficient
reserve in specie to ,mees all de-
mands, which reserve, in immediate
~ available assets, amounts at pres.
emit to s243, 2S9,519. These figures
will give our readers some idea of
the facts upon which financial legis.
lation sought for in Congress is
predicated. ~ i
Webster Tribune: 1.-Two young
men have been in our town this
week for the purpose of organizing
a marriage insurance association
Our young men should be careful
how they so into such: coucerns.-
They first started in the North,
whnra they provod In hn fral11r,lonf