{"newspaper_name": "Mississippi Democrat.", "edition": "01", "page": "p3", "byline": ""}
{"character_count": 1108, "word_count": 201, "ccnet_language_score": [0.9006999731063843], "ccnet_perplexity": [1499.9000244140625], "fasttext_language": ["en"]}
II is 10 prevent this expansion that the In.
dependent Treasury is chiefly created
As The matter now stands, the Federal
Government owes $l7,000,O00 on which
itpays per cent, or $l,020,000 per an
mum interest; at the same time il owes
Sll,000,000 cash, which il has lent to
banks withom interest. To compel the
banks to pay over this amount in specie, is
obviously impossible, and IT would seem to
be matter OF necessity to pass law autho.
rzing the Secretary to appropriate all the
money on hand to the discharge or cancel.
ment of the debt at premium not exceed
ing say 5 per cent. BY so doing the
government will save $500 900 per annum
for Is years, or $9,900,000! The diff.
Guilty of the surplus will then be removed,
and the specie clause go smoothly into op-
Grafton, while an instant dsconnection OF
the government from banks, many Of tchich
are iasolrent, will be effected. The Trea-
sury holds $6,600,000 Of the United States
stock as security for the loan of public mo-
ney. Why not cancel i2 The govern.
ment will save a sum equal TO the whole
present deposite BY so doing.


IN. Y. Morning Neps.