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Lyon County Times
Yerington, Silver City, Dayton, Lyon County, Nevada
What is this article about?
The U.S. public debt peaked at $2,844,649,626.56 on August 31, 1865, with $88,218,055.13 in treasury cash. Over 17 years, it decreased to $1,918,212,094.03, with cash now at $243,289,519.78, resulting in a net reduction over $1 billion. Per capita debt is now $31.72 for 52,799,000 population.
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At that time the population was 35,228,000, and the debt bore five, six and seven and three-tenths per cent. interest. Since then the total indebtedness has been decreased to $1,918,212,094.03, only $250,000.000 of which bears 4 per cent., the remainder bearing from 3 per cent to 3 per cent. With a present population of 52,799,000, the debt per capita is $31.72, and the per capita interest is $1.09. The cash in the treasury now amounts to $243,289,519.78, and the total decrease of debt exclusive of this cash is $926,336,632.53.
Counting the cash on hand which can be used at any time the reduction in seventeen years is considerably over one billion dollars.
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Domestic News Details
Event Date
Seventeen Years Since August 31st, 1865
Outcome
total indebtedness decreased to $1,918,212,094.03; cash in treasury $243,289,519.78; total decrease exclusive of cash $926,336,632.53; reduction over one billion dollars including cash.
Event Details
Public debt reached highest figure of $2,844,649,626.56 on August 31st, 1865, with $88,218,055.13 cash in treasury. Population then 35,228,000; debt bore 5, 6, and 7.3% interest. Now decreased to $1,918,212,094.03, only $250,000,000 at 4%, remainder 3%; population 52,799,000; per capita debt $31.72, interest $1.09.