New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1891-03-29
CASH FOR THE DELAWARES.
, SAMPLE OF DEMOCRATIC FlSAHcIER1NG.

, SAMPLE OF DEMOCRATIC F1NAHClEtINU.
,xvrsrNFNTs IN FLORIDA AND NORTH CARO-
,,vA RoNps-TuE UNITED STATES HAS
70 PAY BOTH PRINCIPAL AND
ryTEREsT-wHAT ONE INVEST
MENT OF $4,000 HAS COST
FEY TELEGRAPH TO THE ThBUNEI
Washington, March 2o.-Among the app'opi''''
n, the last Congress which Democrats, especoy oouV"
ern Democrats will not be likely 10 crlncise WIZ" cN
trcms severity is item OF 10000 IN inc ihii""
,rrronr,aton law II provides that one-half OF lhe
cum M al 40 600 which "was invested by the 'h'eu
c,otes in Florida and North Carolina bonds. ~hch
,ords arc now held in trust" for the beneht OF te
Delaware tribe Of Indians, shall be PAD 10 salu III
dams per CAPITA and that thereafter salo oonus "'
bs the property OF the United States" All Vi ''"'
gerry handsome on the part Of the Cnitco STATES wha
ever may be said Of the States oil flofioa anu
Carolina r...ur ~
IN october 1887. President Buchanans Secretary OF
~. Treasury bought, with funds which belonged 10
the Delaware Indians per cent bonds OF inc s'e'o
~ Florida amounting to $4,000, par Value' anu P
cfnt bonds Of the State OF North Carolina ano"h's
in value to 100000. The Indians 10 wioni "o
money belonged of course knew nothing OF ule hs'uio
~ the investment made in ter behalf by the peio
c,,tc q Great Father In Washington and were con-
,ert with the assurance that ii would yield them nearly
$4,000 per year. The interest on the bohds was pNu
nv the States for several years. FLORIDA pad in'oo
down to January l. 1862 North Carolina PAID in'eres.
ON $4,000 until october, 1860 and on SIooVo "'.,.
Apru 1861 Since that time neither state mas pau
one dollar Of either principal or interest ara inc Hi
has hcen maid by appropriations from the Treasury OF
the United States The total amount which the TAX
payers OF the United states have thus been requoo 70
nav 10 the Delaware Indians on account OF Demociao
repudiaton IN Florida, computing interest 10 june oo
a.
current year. Now the United States Is 10
sn, and nav 100 cents on the dollar for
r1orida rspudiated bonds OF the face value OF
$4,000 OF course nobody expects that the uo'ern
mept will ever receive one dime from fioriua on
account of the principal or interest OF these se"'f
ties, which were issued long before the heoeinon'
which we're bought with Indian funds by Dcmocrauo
S.cr.,srv n, the Treasury and which now represent
simnlv the dishonesty Of a repudiating Democratic
state Yet the buying Of these repudiated oonos IS
profitable transaction In one sense, Tor IL WI" reNoNo
the Government of a future expenditure Vi @i,0o'
per year on account of interest on deot WHICH Is
worthless. nj .
The North Carolina investment for the beneht OF
the Dehwares was made at the same time, and by
the same Democratic Secretary Of the Treasury WHO
bought the Florida bonds but differs from IL IN soho
particulars. Two purchases were made on the same
date for the fund; one of $4,000 ana the o'ier
amounting to $4,000. No interest was paid on the
former sum after october l. 1850, and none
on the latter after April 1, 19ol
the rate in both being per cen'
uer year After the war; however, some North
carolina nancer with the same sort Of ingenuity, but
with less than Che degree of generosity, shown
by the late Wilkins Micawber, refunded, or scaled
the $4,000 Indebtedness, and gave new note Ior
$1,000 in lieu of the principal and accrued Interest.
The interest the reduced principal has never oeen
paid by the State but by the United States when mas
expended 81 $50 on that account The total amount
of interest which the taxpayers OF the Cnteo states
have been obliged contribute on account OF ntelest
due from the state of North Carolina 70 the Delawae
indians is S160, $50, S6,0oO more tnan the ufpd
principal. BY the purchase authorized In the Scons
law the United States Will become the owner oi Nolt
Carolina bonds of the face value OF $4,000, upon
which the state has never paid dime OF interest shte
$500 or 1861. But the Government gains Dy tlIS
transaction also, by the of S01O per year. whcn
Il has hitherto been obliged to appropriate III oiuer W
Lerp faith with the Delaware Indians. ..
ihe total net annual saving on account OF interest
due from F0tida and North Carolina. which has been
paid from the United States Treasury Tor ABOUT Unity
wears will be 81 1865 per year. The total amount
which the Investment In Florida and North Carolina
bonds by President Buchanan's Secretary OF tho Treas
ury on account Of the Delawares has cost te Chteo
states In cash, down to date, is S3o7s3o.