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Brazen Lying

Brazen Lying image
Parent Issue
Day
16
Month
July
Year
1891
Copyright
Public Domain
OCR Text

The extent to whioh the Democratie and Mugwuinp organs are lying, positively and brazenly lying, about the condition of the treasury of the United States, is almost beyond belief. Outrageous as it is that lack of patriotism should carry the unpatriotic so far as to causo them to "compass aea and land" to deslroy the credit of their country - for it is not the Eepublican party's credit, but that of the United Statep, that they are sayagely and fanatically assailing - the heinousness of doing so by a continual repetition of lies is even more disgraceful. There have been two fnll fiscal years completed since President Harrison wal inaugurated. On July 1, 1889, there were outstanding, in round numbers, $(376,000,000 four per cent. bonds of the government and $140,000,000 four and a halfs. Tbere are now outstanding $560,000,000 of the fours and S51,000,000 four and a haifr, a reduction of $116,000,000 in the former and $89,000,000 of the latter, or a total reduction of $205,000,000 of interestbearins; debt of these two issues alone: more tban $100,000,000 a year. Neither of these two loans has yet fallen due. The fours wiil not be due till 1907, the four and a halfs will fall due on Suntembe 1 next. The administratinn has tuiticipated their rnaturity.however, by purchasing bonds as preeented, w.henever the prices asked were not so high that it would be bad eeonomy to pay them. To what better use could the surplus have been put than to the payment of the biggest blocks of principal of debt, bearing much higher rates of interest than that at which the government extends the remainder of

Article

Subjects
Old News
Ann Arbor Register