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Show FINANCIAL MISTAKES. CriTi"o '!' ''.' admits that tU umdiii- b... I a iKrh.-Iive y.-aia v.a- treasury has bi.cn ubie only Vt dispose of four hundred and twenty millions of fives ! and none of the other. Tne mistake of the law was that the bond were too short. Xn secretary of the treasury, treas-ury, at tint date, had a viaiou ot paying on the whole bunded debt of J-J.WJO.OOO.CXjO in twenty or thirty years. He could not tee tne eices-sivu eices-sivu torture of taxing the country, annually to ourchase $ 100,000,000 of bunds which wero not pressing for payment. 1 le expected to pay half the debt in his own term of office, and to see the whole paid in his lifetime. life-time. Tho 'Ifibnne now suggests a chance in tho law making tho remainder of the lives payablo at tho pleasure of tho government. say twenty-live years hence; tbe per cent, bonds at forty years or fifty; and the per cents seventy-fivo years ur even longer; and there would be no difficulty in having them taken by the capitalists of tho world. This is tbe confcBion of a terriblo blunder. Tho common-sense of ft party or of a financial secretary who 1 proposed to pay off our great national debt in twenty or thirty years must have boon infinitiaimal. It shows utter ignorance of tho resources and ability of the country, as well as ol the fi rat principles of financiering on a laryo scale, tot the party with this record proposes to contest tho field for tho next presidency. It should gracefully retire at once from politics, for witli such a record, its defeat is inevitable, unless the American Amer-ican people have lost their Benaes. |