Watertown weekly leader. [volume] (Watertown, Jefferson County, Wis.) 1906-1908, 1906-07-20
OLD DEBTS OWED
BY GOVERNMENT
BOND ISSUES THAT HAVE NOT
BEEN REDEEMED
Strange Conditions Said to Exist
Report of the Secretary OF the
Treasury is Full of Interesting
FdCtS-Mdtters of General In
tereSt to the Public.

it is shown that the smallest amount
paid for the support of the army was
S632, 8O4 in 1871 and the largest 81 ,O3O,
100, 400 in 1865. For the navy the
smallest amount was SCI 408 in 1894
and the largest S122, GIT, 434 in 1865.
For the year 1905 the cost of the army
was $122, It's, O74 and of the navy SLIT,
$50, 308. Pensions have been paid
since the foundation of the govern
ment, the smallest amount in any one
years being $62, 90l in 1903, and the
largest $142, $50, 266 in 1904. From
the organization of the government
in 1871 up to and including 1866, the
cost Of maintaining the army was
So, 572, 26O, 092, and of the navy SIT, :
629, 808. During the same years $119,-
GIT, 1893 was paid for pensions.
From 1867 to 1905, both inclusive, a
period of thirty-nine years, the army
has cost So, SIT, $40, 296, as against 49,
572, 26O, 092 for the first seventy-five
years of the nations history. In the
first period many Indian wars were
conducted, the war with England,
with Mexico and that between the
states were fought to finish, while
in the latter period but two Indian
wars of any note were carried on,
and three months skirmlsh with Spain
During the first seventy-five years,
$119, GIT, 1893 was paid for pensions and
during the last thirty-nine years 49,
139, 563, sos. In every year since 1891
more money has been paid for pensions
than during the first seventy-fve years
of the nation.
The total RECEIPTS of the govern
ment from the sale of public lands
since 1871 were 1926, 7O3, 238. By far
the largest receipts in any one year
being $24, 877, 179 in 1897 and $14, 49,
600 in 1885, These were the two
years Immediately following the with
drawal of the deposits from the Unit
ed States bank by President Jackson,
and the placing of them in the "favor-
ed banks of the states. This Great
ed wild speculation in public lands
and the sales jumped from 81, 857, 600
in 1885 to the figures given above in
1886 and 1897. Then followed the
calling in of the deposits by Presi
dent Jackson This not only put an
end to the wild speculation in lands,
but produced financial panic that is
still spoken of with bated breath by
the remnants of former generation.
Every bank in the United States but
one suspended specie payment; seven
out of every ten banks in the country
were forced to permanently close their
doors.
In amount collected for internal
revenue for the fiscal years ended
June 80, 1905, Illinois starts first with
S51, 1872, 512, New York second with
S27, 991, 512, Indiana third with S24,
652, PA. Ohio and Kentucky had a
close race for fourth place, Ohio win
ming by a very narrow margin, collect
ing $40, 772, 6135 against $40, TAB, 437 for
Kentucky. The largest collection in
any district was $34, 691, 666 in the
fifth Illinois. TIE seventh Indiana
follows with SIC, 142, $50 and the first
Ohio with SIS, 21S, 4O5. In the fifth
Illinois it cost .0O4 of cent to col
lect each dollar and in the seventh
Indiana zoos of cent.
The report also furnishes food for
speculations as to what becomes of
our money. During the last forty
years the government has issued many
millions in bonds, treasury notes and
'greenbacks. Millions has been
redeemed. but no one can tell where
large amounts are. The first loan
authorized after the breaking out of
the war between the state, was $3.50,
600, 900 of six per cent bonds. Of
this loan the amount issued was $780,
321, $50. The bonds were payable in
twenty years and all interets on them
stopped in 1881, yet SIS, $50 of the
bonds have never been presented for
payment, and as the interest ceased
more than twenty five years ago, the
probabilities are they will never turn
up, and the government will be a
gamer by that much. More than
sixty million dollars of demand notes
> were issued, and of these $50, 2S2
are either floating around somewhere,
or have been lost or destroyed.
Of the 7-3Os of 1861, 50, 400 remain
uncalled for. Like the six per cents,
interest on these has long ceased. In
1864, S515, 900, 900 of the five-twenties
were issued, and the amount oustand-
ing is SOS, $50. There is supposed to
be outstanding s346, 6sl, Ole of the leg
al tender notes commonly known as
'greenback, but as they were issued
more than forty years ago, the chances
are that the amount in actual circu-
lation is much smaller, as some of
them have doubtless been worn to
shreds long before this. During the
civil war 1868, 720,071 was issued in
fractional currency. Of this large
sum Sc, 867, 1G9 is classed as outstand-
ing A small part of this large sum
is in the hands of collectors, still
smaller portion may be held by indi-