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Tipton, Cedar County, Iowa
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President Andy Johnson orders retrenchment and economy to pay the national debt, estimated at three thousand million dollars by July 1 next, projecting full payment possible in twenty years from 1870 through public and private frugality.
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We hear that Andy Johnson, who was born poor, and raised poor, and is yet of the people in his property and expectations, has given the order for Retrenchment and Economy, and declared that the Nation must go right to work to pay its Debts. Good!
The National Debt has been ciphered up, and the sum total is a big one,—but the American People is a big one too. On the 1st of July next our Debt will foot up in round numbers Three Thousand Millions. We can pay it without strain, without oppression. We can pay it, and add to our wealth. But we have got to practice economy, public and private. We have particularly to apply economy and watchfulness to the legislation of Congress, and to the administration of the Departments and Bureaus in Washington. "The expenses of the Government must be shoved back rapidly and in good faith toward the old peace footing of 1860. We may never again get quite to that,—but let us get as near to it as we can."
The ablest statistics in the service of the Treasury Department have been directed to measure the wealth and resources of the nation, and to calculate when it will be possible for us to pay, and probable that we will pay, that immense debt of Three Thousand Millions. They have reported that the "bottom dollar" of it can be paid in twenty years from 1870!*
Good again! Let the watchword of all politics be—Pay off The National Debt!
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Domestic News Details
Event Date
1st Of July Next
Key Persons
Outcome
debt payable in twenty years from 1870
Event Details
Andy Johnson, born and raised poor, orders retrenchment and economy, declaring the nation must work to pay its debts. National debt totals three thousand millions by July 1 next. Payable without strain by practicing economy publicly and privately, especially in Congress and Washington administration, aiming toward 1860 peace footing levels. Treasury statistics confirm payment possible in twenty years from 1870.