Rensselaer Republican, Volume 24, Number 49, Rensselaer, Jasper County, 4 August 1892 — Indiana’s Interest Account. [ARTICLE]

Indiana’s Interest Account.

j£he people of Indiana know in a general way that the present State debt of neatly $9,000,000 has been created by the-Democratic party borrowing money at interest to pay current expenses, but they probably do not know what this policy has cost them in interest. Interest runs night and day, when the debtor is sleeping and waking, and it piles up amazingly fast, especially when money? is borrowed on interest to pay interest, as has been done by the democratic party during the past few years. The following statement shows the amount of interest paid by the State each year since 1880: 1880./. . .$289,465.57 1881.. .... 200,156.47 1882:....',....'.. 280,866.24 1883 280,866.24 1884. 285,114.49 1885 . .7............ 313,831.99 1886.. 313,261.99 1887.. 327,661.99 1888 337,861.99 1889 , v . --. 273,861.00 1890.. 284,385.00

Total ~53,277,237.47 Here is a total of $3,277, 237.47 | paid as interest during the ten years from 1880 to 1890, inclusive. Governor Gray forsaw some years ago that this interest account was becoming intolerable. In his message to the legislature in January, 1889, he said: “The annual interest on the domestic, debt equals about one-fifth of tllK entire revenue of the state 1 for general purposes, while the total annual interest paid equals about ones orth cf its revecue.” Thick of state borrowing money to pay

current expenses until its annual interest account equals nearly onefourth of its revenue. That is the kind of financiering that has been going on in this Sijate during the last ten years. For years past the leaders of the democratic party in Indiana have been telling the I people that they were impoverished by the tariff, that national taxation was what kept them poor. Yet daring the last ten years the people have paid in interest on the "Democratic debt $3,277,337.47, and the account is still running with the principal yet to ba paid.—lndianapolis Journal t