Rensselaer Republican, Volume 15, Number 2, Rensselaer, Jasper County, 28 September 1882 — PAYING OFF THE DEBT. [ARTICLE]

PAYING OFF THE DEBT.

What the Republican Party la Doing Toward Extinguishing the National Indebtedness. [Washington Telegram.] Under the administration of the present Secretary of the Treasury, during the period of ten months, from November 1, 1881, to the Ist of, the present month, the following reductions havo been effected: Of the interest-bearing debt $129,035,000.00 Of tbe total debt, less cash in the treasury 121,608,20 i.'i; Of the annual interest charge 4,515,7V**.?i Under the administration of the Hon. William Window, during eight months the following were the reductions madte: Of the Interest-bearing debt $108, 206,2.10.00 Of the total debt, less cash In the treasury 94,421,016.87 Of the annual interest charge 15,88:1.602.25 This large reduction in the annual interest charge "was largely the result of the exchange of 6 and 5 per cent, bonds into bonds bearing 3+ per cent, interest. Under the four-years’ term of the Hon. John Sherman, from March 1, 1877, tc March 1, 1881, the reducticns were as follows. Of the interest-bearing debt $36,762,500.00 Of the total debt, less cash in the treasury 908,824,730.27 Of the annual interest oharge 17,557,708.00 Prior to the Ist of March, 1877, and since the 31st of August, 1865, when the debt was at its highest point, the reductions effected were as follows: * Of the interest-bearing debt $669,832,794.96 Of the total debt, less cash in the treasury 723,881,035.88 Of the annual interest charge 56.574.052.37 During the entire period since the 31st of August, 1865, the debt has been reduced as follows: The interest-bearing debt has been reduced from $2 381,530,294.96 to sl,437,693,750, a reduction of $943,836,544.96, or 40 per cent. The total debt, less cash in the treasury, has been reduced from $2,812,662,178.82, estimating the interest Aue and accrued to the 31st of August at $56,230,707.49, which was the amount due aud accrued on the Ist of July, 1869, when the interest was stated as part of the public debt, to sl,§58,926,171.96, a reduction of $1,153,736,006.95, or 41 per cent. The annual’ saving of interest payable on that portion of the public debt bearing interest is represented by the reduction from $150,977,697.87 to $56,446,488.50, a totalof $94,531,209.37, or about 63 per cent.