Rensselaer Republican, Volume 19, Number 8, Rensselaer, Jasper County, 28 October 1886 — $1,160,000.00. [ARTICLE]

$1,160,000.00.

THAT IS THE AMOUNT THE STA/E DEBT HAS BEEN INCREASED/ BY DEMOCRACY. The following figures are official, and show the condition of the foreign State debt for several years named: FOREIGN STATE DEBT. Fiscal year ending Oct. 31, 188051,093,395.12 ' Fiscal year ending Oct, 31, 1881 9713*25,12 Fiscal year ending Oct. <ll, 1882..... 971,822,12 Fiscal sear ending Oct, 81, 1883..;. . 007.82.5,12 Fiscal year ending Oct. 81, 1884.... . 607,825,12 Fiscal year ending Oct. 31, 1885 1,703,825.14 In 1881 the debt was reduced by the transfer of $340,000 Purdue University bonds to domestic indebtedness, and by payment of the Coughlin bonds (24) of SI.OO each. This was done under Gov. Porter’s administration. In 1883 the Republican administration paid otf: War loan bonds ...$139,000 Other bonds•.... 1,570 T0ta15140,570 There has been added to the public debt of the State during the year ending Oct. 31, 1885, the sum of $1,160,000 as follows: New temporary loans6oo,ooo New State house temporary loan 500,000 State University (Bloomington) loan .... 60,000 Total $1,160,000 These are the figures showing the increase for the year of the debt under Democratic auspices: $1,160,000.00 The Indianapolis Sentinel say s that this money —$I,l6o,ooo —was borrowed “to complete the statehouse and the new hospitals for the insane” now building at Richmond, Evansville and Logansport. Yet there are $120,000 of estimate allowances, allowed to the contractors for these hospitals, that are unpaid because the treasurer says there is no money in the state treasury to pay them, and the contractors have been compelled to shave this paper of the state at the rate of 7 and 8 per cent, in o’rder to get money to pay the workingmen who are working for the State of Indiana. where is the Money? During Gov. Porter’s administration, besides the transference of the Purdue University bonds, there were actually paid $164,'570 of the foreign debt- During the past year there has been only $2,000 paid of internal improvement bonds, and the debt remains as heavy as the above figures show. This is the sort of management the business of the State is having under Democratic administration.