Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1886-09-04
Tribute to the Republican Party.

Tribute to the Republican Party.
The republican party deserves the high
est honor for the successful fight which it
waged against Secession and Slavery. The
history Of that struggle will live as long
as the world stands, famed as being the
most gigantic contest OF modern times, the
issue of which was the preservation OF the
American Republic and the abolition OF
Slavery in this country. If there had been
nothing but the moral grandeur of the
cause. the magnitude of the struggle, and
the success OF the Union armies, there
would have been enough to have crowned
the republican party with everlasting hon.
or. But there was more than these. 1t
must be added IN praise of the republican
party that when the war was over and
the victory won, the republican party set
itself resolutely at work to restore the dis
ordered finances of the country to a sound
condition. and the payment of the last
uOlldl Va luuCDLCuucSS luCuITcu III Iuc
war; this besides graphing with the great
problem of reconstrncting the Southern
States and rewarding with pensions the
brave and loyal soldiers who had borne
the nation safely on their bayonets through
four years of battle.
The world had never witnessed such an
ly IN debt as this government was when
the rebellion closed in 1865 is recorded as
having attempted to pay what it owed. 1t
was LETT for this gov ernment directed.
controlled and supported by the republic
can party, to try the task. and most nobly
has it succeeded. That our readers may
be reminded of what has been accom-
pished in the way of paying the national
debt-especially at this time when Mr..
St. John and his colleagues of the third
party or democratic annex are declaring
that the republican party must be killed
for alleged indifference to temperance
and prohibition-we copy the following
from an editorial in the New York Times
of Sept. End. The Times says;
According to the Treasury statement of
yesterday the debt of the United States, less
cash in the Treasury available tor its reduc-
ton, was 81 1873. l76, $50. Twenty-one wears
ago on the 3lst of August, the debt, with the
same deduction. was So, 756, 43l,57l. Owing
to the presence in the Treasury of certain
unavailable" cash items, as now calculated
the reduction in the twenty o0e years must be
increased by Sl04 ,055 1875. and may be set
down at 81 ,522 $40, ll6. which is an average
annual payment Of S72. 400 $50, or in round
numbers of seventy-two and half millions
How far this steady and rapid payment of the
debt incurred in the war for the preservation
of the Union, combined with the reduction of
the interest rate and the increase of the pop
ulation of the country, has affected the debt
burden borne by our people can be best un-
derstood by comparing the per capita share
of principal and interest for the two periods.
In 1865 the debt amounted to S7S.25 per cap
tia. Last year 1t amounted to only 1924 Ia.
In 1865 the per capita portion of the annual
interest charge was 81 20. Last yesr it WAS
but 80 cents. The ratio of the principal is
now but two-thirds what it then was; that of
the annual interest lie but little more than
one-fihh.
II now we turn to other lands we find that
Germany alone of the great commercial pow
ers has debt less than our own, and we find
that Germany is the most progressive and
relatively prosperous of them all Austria
Hungary (empre and kingdom) has q debt of
81, 900 600, 900, Italy of 50 200 900 900, Great
Britain of So, zoe, 900 900, and France So
600, 900, 900. These are, of course, but ap-
proximate bases of comparison with the
-.
debt of France is national, while in the
United States the debts of States and munich
palities are not included, and there are quail
fcstions to be made in the comparison with
Great Britain and Italy also. But in q gen.
ersl way it il plain that the amount of yearly
earnings which in this country must be
diverted to the care of the national debt is
almost Insignificant as compared with that
required elsewhere in the commercial world
1t cannot be said of the foregoing state
ment that it is a republican falsehoed, for
the New York Times, from which we
copy it. is not republican paper. but a
supporter of President Cleveland and
his administration. The facts about the
payment of the national debt are how.
ever generally well known. There is no
dispute, no uncertainty about them. The
debt has been reduced as shown above.
and the credit of it belongs to the republi-
can party. Men who led in measures for
the prosecution of the war and the pay
ment of the debt are now the trusted and
honored leaders of the republican party !;
and so honorable and successful has been
the career of that party that even its Bit
terest opposers, like the New York Times.
are compelled to pay tribute to its works.
as that paper does in what we have copied
from its columns.
This is not party to be killed Those
who doubt it will be convinced on the
18th of this month that it lives aud thriyes
in Maine, Notwithstanding the assassin
like plots and devices of its opponents.
Even its enemies have tn praise II