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Virginia Argus
Richmond, Virginia
What is this article about?
Report from Washington City on August 2 detailing the reduction in U.S. public debt from $80,161,207.60 on January 1, 1801, to $77,881,890.29 on January 1, 1802, under President Jefferson, praising his frugal measures and relief from internal taxation, contrasting with prior increases.
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PUBLIC DEBT.
Unredeemed principal on the 1st of January 1801, $80,161,207 60
Unredeemed principal on the 1st of January 1802, $77,881,890 29
TREASURY DEPARTMENT,
Register's Office, Dec. 12, 1801.
JOSEPH NOURSE, Register.
Thus it appears from the testimony of a federal legislator, that since Mr. Jefferson came into office, the national debt has been diminished 2,259,317 dollars and 31 cents.
Whilst he has also relieved us from all odious, oppressive internal taxation.
Must not these facts diffuse a general joy over the country?
A federal secretary of the treasury, in a letter to the committee of ways and means, dated 22 January, 1800, declares, that "the principal of the debt of the United States has increased since the establishment of the present government, the sum of 1,516,333 dollars and 50 cents."
This, it will be remembered, was after twelve years of peace,
In less than one year, President Jefferson's wise and frugal measures have decreased it nearly three millions.
These things, fellow-citizens, are worthy your most attentive and serious consideration—they are
STUBBORN FACTS.
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Where did it happen?
Domestic News Details
Primary Location
Washington City
Event Date
August 2
Key Persons
Outcome
national debt diminished 2,259,317 dollars and 31 cents; relieved from internal taxation
Event Details
Unredeemed principal on the 1st of January 1801, $80,161,207 60; Unredeemed principal on the 1st of January 1802, $77,881,890 29. Testimony from a federal legislator shows debt reduction since Jefferson took office. Contrasts with prior increase of 1,516,333 dollars and 50 cents after twelve years of peace, as per federal secretary's letter dated 22 January, 1800.