St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-10-02
THE NATIONAL I. O. us
Interesting Facts and Figures Devolved
From the Monthly Public Debt
Statement.
Senator Logan Delivers an Eloquent Eu'
logy on Gen. Grant at a Memo
rial Service.
Fo1map,s Indian Committee Alleged
to Have Been a Cheap John Sort
of an Arrangement.
Candidates for Twin City Postoffices
--Rosecrans vigorously Sat Upon
"A. Minnesota p. NJ
Facts About the National Debt.


Special to the Globe.
WASHINGTON, Oct. 1.-The monthly
debt statement was issued this afternoon.
1t is a regular visitor here, making its ap-
pearance at the treasury on the first of every
month year in and year out. The treasury
department has been issuing these debt
statements every month for perhaps twenty
years. The national blessing" as some
people denominate the national debt, has
been accumulating a long time. Indeed
there are bonds and obligations now out
standing that were issued more than a half
century ago. They are few, however, and
are only still unpaid because their payment
has never been asked. The monthly
debt statement is rather an
interesting document. 1t is simply
a sheet OF paper about twelve inches wide
and twenty inches long labeled, Estate ment
OF the Public Debt for the Month of -"
"The one issued to-day was for the month
OF September" 1t shows first, the interst
bearing debt in six items, the Pacific rail-
road bonds amounting to $4,000, the re-
funding certificates, amounting to 1929, 600,
the navy pension fund amounting
to $4,000 0OO. the three per
cent bonds issued in 1882 re-
deemabe at option of the government, and
amounting to S194, 600. 600, the four and
one-half per cent. bonds issued i'll II and
redeemable in 1891. amounting to $780,
600. 600. and the four per cent. bonds issued
in 1871 and redeemabIe in 1907, amounting
to S737, ,00G, 900. This IS all
THE INTEREST BEARING DEBT,
the total being, YOU see, 81, 200, 600, 900. The
next on the list is q statement of debt upon
which interest has ceased since maturity.
This is curious statement. IL shows that
there are still outstanding nearly 81, coo. 900
worth of government Obligations on which
interest has ceased to accumulate because
Of the expiration Of the term i'll which they
were TO be paid, and still they are not pre-
sented for payment. Some OF these are
very old bonds, issued more than half a
century ago and maturing prior to 1887.
The large proportion have matured since
that time. though there is one lot of
nearly half a million. which matured dozen
years since and another lot still larger which
matured nearlyaaa decade ago. Where these
government obligations areSand why they are
not presented for redemption now that they
do not bear interest longer is enc OF the I'M
solved problems Of the affairs of this great
government. 1t is probable that in many
eases the bonds in question have been de-
stroyed by fire or flood, or peing stolen the
holder is afraid to present them for fear OF
detection. In other cases they have been
stuck away in some out-Of-the-Way corner
in the backs or bottoms of innOcent-lOOking
chairs or sofas or
GONE DOWN ON SINKING VESSELS.
Some of the later ones Of course are yet in
existence and viii be offered and paid some
time The largest lot of these outstanding
ripe bonds are in the per cents, of which
more than 81 600, 600 are still unpresented.
They are probably bonds that have been
laid away in the treasury as security for
national bank notes, and the owners don't
care to sell them and buy 9th
erS instead, for they will Of course
only get par for these and for the.
others they must pay 10 to 80 per cent. pre-
mium. There is one other great division of
the public debt which is labeled ''debt bear
ing no interest" This is made up of legal
tender notes. better known as ''green-
backs" and amounting to $40, 900, 900;
gold certificates amounting to S123, 900, 900;
silver certificates amounting to 50, 600, 900,
and certificates of deposit amounting to
$50. COO GOO. The recapitulation shows the
intereSt-bearing debt to be $1,000, coo. 600,
and that which bears no interest $610, 000.-
000, making $1,SJ0, 900, coo. There is,
however,
ALWAYS KEPT ON HAND
in the treasury 500, coo, 600 OF cash to
Use in redeeming United States notes if
they are presented and the gold demanded.
There is also about $3.50, 900, 900 for use
in redeeming the gold and silver certificates.
Deduct these available cash items from the
debt. for of course they ought to be de-
Quoted, as they are for use in redeeming
the debt obligations when wanted, and the
debt statement of to-day shows the real debt
to be in round numbers S1,470, 600, 900.
The monthly debt statements as you
run over them for months and years are an
interesting study. There has been a steady
decrease for nineteen years, for the debt
reached 'high-water mark in 1866, when
it was 50, 713, 600, O0C. 1t has fallen off
almost one-haf in nine years, and is now
about so for each citizen of the United
States, against SIS in 1865. The interest
charge has fallen of meantime from $780,
00G. 600 a year to S24, 600. coo a year. and
from S429 per head of population in 1865 to
SO cents per head now.
THE TABULATED STATEMENT.
WASHINGTON, Oct. 1.-The following is a
recapitulation OF the debt statement issued
to-day:
PRESENT DEBT.
Interest-beariug Debt
Bonds at ~ per cent... S25O, ,OOO 900 60
Bonds at I per cent. t737, l56 $50 90
Bonds at per cent......-.... 1874, l90, 500 90
Refunding certificates at per
Observation-Disclosures. 227,OOO 90
Navy pension fund at per
cent..................... 100000 90
Pacific r. r. bonds ut per
cent. ....................... 64,623,512 90
Principal ..................s 81, ,26O, III, 1852 90
Interest,". Observation-Disclosures. 12,214, 7SS So
Total. 81, 49,, 992, ,250 So
Debt on which interest has ceased since
maturity
Principal. Observation-Disclosures. S3,S71, ,3S5 rs
Interest. t....-............... 221.332 80
Total. l...................... S4,O92, 712 Sc
Debt bearing no interest
Old demand and legal tender
notes .-................... 1916, 73S, $50 90
Certificates of deposit.. 23lS5 O0O 90
Gold certificates. ... l1S131. 1en 90
Silver certificates. . 93. .65e, T16 0O
Fractional currency, less S.
1881 estimated as lost or
destroyed d................. 6,9G1, ,162 SS
Principal observation-disclosures. SIS, ,554 IS
Total debt
Principal Observation-Disclosures s., $50. .32S. .4O2 IA
interest. Observation-Disclosures. 12,+36, l21 Is
Total ......................S 81, ,S65, ia ,523 p
Less cash items available for
reduction of debt....... 24o.927, ,O74 20
Less reserve held for redemp-
tlon OF United States notes
(S100,0OO, 600. )........ 340,927, ,974 20
Total debt, less available cash
items: .;.....-.......... 1,524, S37. AS 81
Net cash III the treasury..... 63,90S, ,106 so
Debt, less cash in the treasury