Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1885-10-15
A Clear Statement.

A Clear Statement.
The Chicago Current makes the fol-
lowing pellucid statement of the public
debt and the manner in which it is not
being paid by the present administra-
ton. Even the wayfaring man, though
a fool, cannot fail of understanding it:
"The Current has twelve monthly
public debt statements before it. The
outstanding A per cent. bonds have
been $3.50, 100000 without change; the
outstanding per cents have risen from
S737 ,6S4, 500 last October to S737, 1885,
$50, an increase of SOL $50; the outstand-
ing 8 per cents have fallen from $780,
521, 250 last October to 1874. 100, 500, a
decrease of $40, $780, the refunding
4 per cent. certificates have fallen from
1910, $50 to 1927, 900, decrease of
$4,000; the ) per cent. pension fund
has remained at S14,000,00 these
sums comprise the real interest bearing
debt of the United States; that debt was,
last October, 81, 206, 476, 500; 1t is, this
October, Sl,196. 1853, $50; the actual in
terest- bearing debt therefore is $10,-
322, $50 less than it was year ago; a
year ago the Treasury had $l44.174, 949
cash of its own on hand now it has
S243, oil ,5S3 of its own. Thus, allow
ing the secretaries to keep what they had,
they have collected an additional hun
dred and ten million dollars, and have
paid debts with only ten millions of
that sum, leaving the present scandal
Gus hoard of quarter of billion dol
lars. held out of business channels.
Now, on the 4th of March last, tho be-
ginning of Mr.. Cleveland's term, we
might have seen that the interest bear
ing public debt had been reduced S44,-
600, 900 in the nine months then Just
passed, and that S34, 900, 600 of this was
under Folger and the other 10000, 900
was work that McCulloch was forced to
finish. If we had compared this re-
ductior with that of the corresponding
nine months of the previous year we
should have found that in that previous
time over $81, 900, 900 of interest beari NO
public debt had been paid. If we be-
gin with the 1st of May, 1885, we shall
find 81, 196.150, $50 set down as the in
terest-bearing public debt; June 1st,
1885, it was 81, 1876, $50, $50, an increase
of 5000; July lst, 1885, it was 81, 1885,
100. $50, the same; August LIST, 1885, it
was l.196, $4,000, an.increase of ST.
$50; September LIST, 1885, it was 81, 1867
153, 400, an increase of $500; October
LIST, 1885, it was 81, 1876, 1853, $50, an in
crease of $3.50. Thus there was only
one month (June) out of the six that
the bondholding mice did not get a
nibDle, be it ever so little, at the public
cheese, although the total increase of
debt was only $1,000. Yet. when we
consider that the cash in the treasury
increased during those six months from
the fabulous unused sum of $216, COL, All
to the still more astonishing sum of
$243, oil ,5S3. or an increase of spare
cash in six months of 1926, 40, 1856
when we so consider we not read
with astonishment that not only was no
debt paid, but that Uncle Sam went cut
and placed even Sc, 400 more of his
erest-bearing paper? The cost of
McCulloch aud Manning's contraction
of currency, aside from its paralyiic
effect on business, may be put at II
per cent. per annum on S74 200, 900
from October /, 1884, to May /, 1885
Gas it was a gradual hoard) that is.
1855, 900; 8 per cent On S74. 900, 900 to
October l, 1885 Cor 81. 110,000), rs
that sum has lain the treasury since
May /; and l ] per cent. on the further
gradual hoard of S26, 200, 900. or $685.
900. Thus the hoard Of McCuloch ard
Manning. above what Folger (himself
d golibug) would havo boarded, has
cost, so far, Sl,S6)000 in wicked in
terest. This takes into no account The
other $40. 900. 900 of hoard for which
McCulloch and Manning are not di-
rectly responsible. Reader. figures
are unpleasant things. but it is easier
to read the above sums than to fish
them out of Jordon's stormy banking
accounts. Therefore scan these figure.
and save them. Form your own hon
est opinion of gold bug finaneiering
The hog cholera still continues i'll
ravages at Beloit and vicinity. and DR.
Y. T. Atkinson, state veterinary sur.
II