Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1885-09-11
THE PUBLIC DEBT.

The public dabt is as big to-day in days
work-in bushels OF wheat, in bales of cot
ton, in tons ot iron-as II was the day Lee
surrendered at Appomattox, II is less in
dollars, hut the dollars are twice IA big
and twice as hard to get. The people have
paid 81 900 100000 of principal and ST.
000,000,000 OF interest, and must work as
hard to psy what is left of the debt NJ they
would have had to work in 1865 TO pay
the whole of it. We have mentioned this
before, but il ia one of those things that
will bear repeating and should never be
orgotlen.-Ciereland Press.
ED. JoURNAL:-The above appeared in
your paper of the 4,h inst. The people
have paid $4,000 600 900 of interest instead
Of 81 900, 100000, and about $1,000, ,OOO,-
600 OF principal. Two-thirds OF all that
has been paid on the debt has been for in
te'est and one e-third on principal.
| At the close of the war the National
debt was S2,756 millions. Since then we
have paid over 5000, 100000 10 the bond
holder than the debt was then, and vet it
will take more bushels OF wheat, more
bushels OF corn, more bales of cotton, more
tons of iron and more days OF labor to pay
the balance than il would IN 1865.
| Al the close of The war wheat was worth
over two dollars per bushel, corn one dol
lar and wool one dollar per pound. The u
,S75 million bushels of wheat would have
paid the debt; nj the price il is now il will
take over 1000 million bushels 10 pay the
balance. In 1865 the price of 1856 mil
lion bushels OF corn wonId have paid the
debi; now il will take over 1000 million
bushels TO pay the balance of the debt.
IN 1865 the valuation of 1856 million
pounds of wool would have paid the debt
IL 024 million pounds at the present price
OF wool, and 6,S00 million pounds 10 pay
ll,e balance of the debt.
In 1865 The price of IS million tons Of
iron was equal TO the debt now 35 mil
lion ions will be required to pay the bal
lance.
In 1865 the price of rs million bales oil
cotton was equal TO the debt 4; now Il re.
quires 35 million bales to pay the balance
Of the debt.
] have no doubt that many readers oil
The JOURNAL will wonder how the above
affairs have been manipulated 20 as Ia
bring this about-How TO eat your cake ana
keep ii too. II you will listen and pay at.
tenlion for a few minutes l will let you in
TO the secret.
John Stewart Mill, Adam Smith, Amasa
Walker, in fact all wriiers on fnance and
political economy. agree and they lay il
down as an infnllible rule, that all things
being equal, the amount OF money in cir.
cnlalion determins the price OF all that il
for sale and the prices are increased or
dimini-hed as il,e volume Of money is in.
creased or diminished. This IL the secret
Of how 10 eat your cake and keep il too.
IL is the contraction OF the money that has
increased the purchasing power of the
mighty dollar until to-day il requires more
days labor 10 Pay the balance Of the Ma
ional debt than il did at the close of the
| war.
And President Cleveland and Secretary
Mannings notion for relreng the one and
two dollar Greenback bills il to force the
silver dollars into circulation and get the
people tired OF sncl weighly metal money,
40 the anii--silver men will have no Op.
position In demonstrating silver, which will
still contract The currency and bring down
prices Of labor and produce by increasing
the purchasing power Of the dollar in the
ratio as The dollars become scarcer. This
will ensble the national hanks TO control
the volume Of money much easier. Dear
money means cheap labor and produce.
Cheap money makes dear labor and pro.
duce.
Choose whom will serve yOn-you who
follow the plow. who shove the plane
who wieds the hammer or controls The
fiery sleeded engine-in short You who
earn your bread by The sweat OF yoni
face, Con OR MAMMoN.
Bowling Green, Sept. 9Th, 1885.