The Red Cloud chief., 1885-06-19
BLIND BATS
The Pebble Debs Grsssev Thaa 10 Wa ~
1 the Close at the War.

The Public Dess Grssser Than II Va u
the Close at the Was.
A late monthly Statement; Of the Sec
Rotary of the Treasury shows tha, the
public debt amounts 70 $l.ss3. 9l3.7.6
gold valuai on. In 1855. after the war
had closed. the public deb, in round
numbers. was b. ~ Coz. grecnback
Or currency valuation
/, consisted mostly OF greeuback
Treasury notes and bonds.
worth in gold IN average OF si~xty-,hree
cents on the dollar. making It's total
gold valuation but 81. 7Uo. 90. 600
From 1873 until 1879 the Secretary
Of the Treasury and the contraction
resumption organs, 70 prove ths, in
stead Of there having been 3 contraction
Of the currency there had really b.en an
infiat on. showed that the gold value of
the $50. OpO. 100 of 1873 was worth con-
siderably more than the gold value Of
the 500. 900 of 1853.
Using the argument Of the bu!lionists
and Supplying them 70 the apparent, con-
traction. Or reduction Of the public
debt, to ~: that, while the currency
volume was being nominally reduced.
j; was actually being increased in value
and purchasing power. So. notwith-
standing the public dent has been nom
inally reduced. its burden and pur-
chasing power has been increased over
S2O0, 90. OO0. Rest re the present gold
value of our pubic deb; of nearly
81. 9Oo. OJ0.UO back To It's currency
value of 1865 and it would amount to
5000. 600, 900. In 1865 il wa but 81
500. OOO, 60; actual increase. 500. oO0.-
coo.
But the foregoing figures do not show
one half the increase Of the deb bur-
den.
A debt like ANYTHING else. is worth
TO the owner wha. he can get for il.
La the end the public debt must be paid
by labor. and Ia or products. and its
size and burden are not measured 30
much by the number of dollars it calls
for. as the amount of Products. and the
number Of days of toll it takes to create
the dollars.
Although reduced nominally from
%. 800. 600. 900 { 81. 800, OOo. OOl. let us
see if the public debt sits any lighter. or
as light. upon the shoulders Of the peo-
pie As it did in 1865. before they had
squaudered upon it $500. Ov0. 0O0in prin-
cipal and Over 81. 800. O00. 900 in gold in-
tcre {. La 1865 wheat was worth ~. 10
yer bushel and the average wages of
labor was = 80 per day. Now wheat
is worth less than Sl.0O and labor down
in proportion.
In 1865. 1.laO. OOO. 900 bushels of
wheat, or the same number of days
labor. would have paid the entire public
debt, nj the pr .ces then ruling.
In 1855 il will take l,9oO. 900, 900 bush
els of wheat. or the same number o:
days labor. to pay what is left Of the
public debt. after having pa d on it in
principal and interest an amount Of
gold equal to the par va'ue Of the entire
debt at the close of the war.
TIE burden Of the public debt. meas
ured by the value of money then and
now. has increased 500. 900. UJi. meas
ured By wheat it has increased by $780,
OU. Uo bushels, or two wears produc-
tons Of al! the States and Territories.
Measured by labor il has increased by
the daily labor Of =. d 100 men con-
stantly employed for four years.
W lie the publ C eye hts been blinded
and dece we'd by the nominal reduction
of the deb. II has been vastly incr ased.
act ially. by the appreciation of its pur-
CHASING power. Thus o finsn e
priests boast OF Their charity in putt 2
into the contribution box a penny with
hand. while they extract a sh ling
with the 9th r.
These facts are not new. They have
been repeated hund eds OF tines. sti
the people e TO be d. af. dumb and
bl nd TO ever tn NJ political. or econo-
m =. except servile allegian e to party.
and obedience TO the crack of the mas
ter's whip Chicago Express.