Democratic Sentinel, Volume 12, Number 42, Rensselaer, Jasper County, 9 November 1888 — OUR NATIONAL DEBT. [ARTICLE]

OUR NATIONAL DEBT.

A REDUCTION OF OVER *4.000.000 DURING OCTOBER. Thursday, November 89, Designated by the President as a Day of Thanksgiving —Gen. Benet's Report on the Army Bureau, Etc., Etc. [Washington special.] The following is a recapitulation of the debt statement for the month ending Oct. 31: INTEREST-BEARING DEBT. Bonds at 4% percents 197,302,000 Bonds at 4 per cent 632,068.150 Refunding certificates at 4 per cent. 119,690 Navy pension fund at 3 per cent.... 14,0X 1 ,000 Pacific railroad bonds at 6 per cent. 64,623,512 Principal...» 958,123,282 Interest 7,169,196 Total...** 965.292,478 DEBT ON WHICH INTEREST HAS CEASED SINCE MATURITY. Principal* 2,365,685 Interest. 163,110 Total * 2,528.795 DEBT BEARING NO INTEREST. Old demand and legal-tender notes.* 346,737,823 Certificates of deposit 11,580,000 Gold certificates 140,613,658 Silver certificates 2.9,783,158 Fractional currency (leas *8,375,934. estimated as lost or destroyed).... 6,921,316 Principal* 735,635,919 TOTAL DEBT. Principal*l,696,l2',9l7 Interest.. 7,3) ,"07 T0ta1*1,7)3,457,224 Less cash items available for reduction of debt.. .*3)1,675,218 Less reserve held for redemption of United States notes 100,000,000 * 491,675,218 Total debt less available casn item5*1,211,782,005 Net cash in the Treasury 74,491,969 Debt less cash in Treasury Nov. 1, *1,137,993,036 Debt less cash in Treasury Oct. 1. 1888 1.141.875,655 Decrease of debt' during the month* 4,585,619 Decrease of debt since June 80. 1888. 25,‘294,6z0 CASH IN THE TREASURY. Available for reduction of the public debt: Gold held for gold certificates actually outstanding* 140,613,6'8 Silver held for silver certivicates actually outstanding 220,781,152 U. S. notes held for certificates of deposit actually outstanding 11,580,000 Cash held for matured debt and interest unpaid 9,697,992 Fi-actional currency 416 Total available for reduction of debt* 391.675,218 RESERVE FUND. Held for redemption of U. 8. notes, acts J an. 14, 1875, and July 12,1882.* 100,000,000 Unavailable for reduction of debt: Fractional silver coin* 24,088,768 Minor coin i.O, 14 Total* 24,179,'183 Certificates held as cash 33,958, 16 Net cash balance on hand 74,491,909 Total cash In Treasury as shown by Treasurer’s general account.* 624,304,487