Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1909-01-16
F. o. LOWDEN
SEEMS IN FAIR WAY TO WREST
TOGA FROM AURORA MAN
NEXT WEEK.

sue became Squarely joined.
With regard TO the step thus taken
it is but fair to those who are opposed
to such loan to say that the most
earnest advocate of bond issue does
not expect the money to be borrowed
at once, nor to be expended at once
but instead, used as needed, covering
period of years, the expenditure of
the money to be provided by congress.
At the close of the war, August,
1865, the interest bearing debt was
$3.50 100000, the annual interest
charge thereon being 143,000O00. In
1892 the interest bearing Indebtedness
of the government was S5S5;000,0 ,0C0
with an annual interest charge of
S23 ,000,O0
The principal of our interest bearing
debt was increases siering~she years
1S93-1S97 by s2G2,315,4 AGO, this being
made necessary for the purchase of
gold to redeem greenbacks and treas
ury notes presented for redemption
within that period OF time.
Increased for War.
In 1898 the principal of the debt was
increased 100000 to secure funds
to prosecute the Spanish-American war
and under the act authorizing the con-
struction of the Panama canal the debt
has been increased by loans aggregat.
ing $S4215,340. making the total in
terest bearing debt on January l. 1909.
| 1912 2,900,S50. This is all we have got
in interest bearing bonds since the be-
ginning of the government. the govern
ment having reduced the interest bear
| ing debt from 2,3S0.000,000 TO $685.
100000 between 1865 and 1892. The
annual interest bearing charge being
correspondence reduced to S23,000,000
Up to the civil war there were two
authorizations of loans. one for per
cent bonds, the others for per cent
bonds aggregating $64,776;591, the
great increase in the Indebtedness OF
the United States having grown out OF
the civil war, the redemption from
1893 to 1897, the Spanish-American
war and the building of the Panama
canal.
Does Not Worry Public.
/ The authorization of bonds does moi
seem TO have worried the people OF
the United States to any alarming ex
tent for their representatives in COG
gress with decided unanimity voted
the Panama canal issue and will vote
for other issues as they become con
vinced of their needs. And they wi!
be convinced of their needs by tn,
disclosure of practical enterprises i,
the interest of the people
The practical point in the problem
of inland waterway improvement i
that something shall be done to brinj
reduced transportation charges to TIL
J, producing sections of the country. TIL
burden or benefit of bond issue mus
be decided from the purpose Of its is
sue, just as mortgages. If any debt i
incurred in the winning of profits
may be regarded as a wise busines
[ policy. In this manner railroads hav
D been built, great manufacturing ente
I prises have made centers of activit
S 4 out of the wilderness and built cite.
r II in like manner the people of tn
r United States can by a loan of $500
100000 open the inland waterways Z
l. safe and easy transportation thereb
securing untold commercial benefits.
l. might with entire propriety be aske
n would not the end to be attained ju
Y tify such a pledge in view of the cor
e lprehensiye policy Of waterway trea
d ment SO strongly urged by the N
5. tional Rivers and Harbors congress?
vi