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About Albany daily democrat. (Albany, Or.) 1888-192? | View Entire Issue (July 17, 1889)
LDallyXDeiiiocrnt A GOO II SHOWING. The present administration is going right along with its duties to the American peo ple. It finds no difficulty in reducing the surplus and doing it honestly and in the best war for the general good. During the month ot J une the public debt has been reduced $i5,ooo,oto, the largest reduction in any one month for several years. Un der Hie. circular of April 17, i8SS,the treas ury department has purchased bonds amounting to $148,501,250, at a total cost, including premiums, of $172,170,550.28. Krom August 3, 18S7, when the depart ment first began purchasing, to and includ ing to-day, the total amount purchased is $172,824,000, the cost thereof being $199, 374,273 76. Had they been allowed to run until maturity the cost would have been over $235,000,000. The government has therefore saved over $35,000,000 in interest lcne. Corvallls Gazelle. It would be difficult for the Gazelle to get m greater amount of misleading matter in , the same space than that above. Practi- J eally there was no reduction, at all.durlng the month of June, being the small sum of $1,568,538 en the interest-bearing debt. What the Secretary of the Treasury means by saying in his statement of the public debt for June, "Decrease of debt during fhe month $16,255,924.74," is, that during the month of June he collected from the people that much more money than he had used during the month. In other words the cash in the treasury had increased that amount during the month. And instead of this being put down as a matter credita ble to the administration, it should be held as discreditable by every tax payer in the country, for no administration has any right to collect more money from the pock eti of the people than it needs to econom ically administer the government. The "laaettt tells us that since the govei nment began to buy bonds in August, 1887, the amount purchased up to tnc present time has been $172,824,600, for which the gov ernment paid $199,374,273. The Gazelle should have told us that the difference be tween these two amounts, ($26,549,673,) was the premium which the tax payers of this country were compelled to pay to the bond holders for the privilege of paying off these bonds before they were due. This policy of paying a premium on bonds for the privilege of paying them off is the most vicious and outrageous ever imposed upon a free people, and yet it is made necessary because the leaders of the republican party refuse to allow the surplus in the treasury to be reduced in any other way. The Ga telle says the government saved over $3s. 000,000 in interest alone by paying these bonds off at a premium. Let us see how fallacious this statement is. Suppose a banker holds $100,000,000 of 4 per cent bonds parable in 1907. They have lS Tears to run. The interest in that period would amount to $72,000,000. Suppose th government buy these bonds at a pre mium of 17 cents on the dollar. This premium alone would amount to $27,00 , 000, so that the people are called upon to pay $127,000,000 down for the $100,000, xm. If the bonds were allowed to run 18 years the people would have to pay $172, 000,000 for the bonds. But if we calculate theinterest for 1 8 yean, on the $1 27,000,030, which would have to be paid by the people to redeem the bonds, it would amount to $264,160,000 at 6 per cent, (what money is worth In the hands of the people,) which shows a loss to the people of the difference between$264,t6o,oooand$i72,ooo,ooo,whicli is a loss to the people in consequence cf this bond-purchasing policy of $92,160,000 on the redemption of $ 1 00,000,0: o alone. Docs the Gazelle catch on ? As a result of change of administration one ot our sheepmen savs that the increas ed price of ills wool is fully 3355 per cent over last year, lie is willing that protec tion shall continue always. MoiMMiaecr. But the Mountaineer would not risk its reputation for truth and veracity by mak ing such a statement Itself. Wool may be slightly higher than last year, but it is nut because of the tariff question. lor It was jus' as certain last year that there would be no reduction in the tariff on wool as it is now that there will be none. The republicans held the senate for the next two years,and every one knew that if the Mill's bill should pass the house It could not pass the senate for more than two years. Hence to attribute what little Increase in the price ct wool there may be to the tariff question is 'he sheerci demagogy and made at the expense of candor and good common sense. Political capital made upon such a basis is very cheap, indeed. Hut to maintain the folly of war taxation it becomes imperative to resort to all such dodging and subter fuges. The Mercury makes a most eai nest and pathetic appeal to Senator Mitchell to use his influence to stay the deadly fights bow being waged by the two wings of the re publican party in Portland. The attention of the senator is called to the fact that his successor in the United Slates Senate will be elected by the legislature to be elected next June, ani that unless peace and har mony are restored between the fac'ions led by Joe Simon on the one side and Jim Letan on the other, Multnomah county will vote democratic on the legislative and gubernatorial tickets,whk'h wouid give the democrats the next state government and United Statessenator. If all this forebod ing of the Mercury be true, then we can only hope that Simon and Lotan will con tinue their fight.as in that way they will be doing the state the greatest service it is possible for them to do. Cut by the aid of federal spoils which it seems Mitchell has control of undir Harrison, it will be easy for him to settle the difficulty. As evi dence we refer to the characterless char acter of some of Mitchell's appointments. For t anil madeharacss eoto K. 1.. Power NEW ADVERTISEMEXIS. A reliable U. 8. Standard 3-ton scale, only $37. Delivered at your nearest rail roid station free of freight on tnirty days trial. Larger scales at proportionately low j rices. Warranted At e years. Address, F. C. HOFFMAN, Albany, Oregon. THE FAMOUS Wire Buckle Suspender, WARRANTED. i'H1iU.M!W.JMr 5 SPECIALTIES. CLOTHING Fashionable and Stylish Suits, Business Suits, Light woight Summer Suits. Boys, youth's and children's suits. Furnishing Goods Fine Hoe of light weight underwear balbriggan and iroolen ; Hosiery, shirts neckwear, fine wire suspenders, guaranteed for two years, in II the latest novelties. BOOTS AND SHOES. A large linn in this department of the best in the market. HATS Staple and Fashionable lines, among others fine stock of the John B. Stetson hats. Tailoring Merchant tailoring under expert tailor. Suits made to order under short notice at remarkable low figures. More goods turned out than ever before. For sale only by L. E. BLA1N, WANTKD.Giil to do general house work in city. Steady place. Call at Democrat cftlce. LOST. On July 4th a Indies silver watch, gold chain and leckel attach ed. Knward will be paid for its return to this office. T OST A Intent Improved Winchester Id rule, size 40-U5, on the road from Al bany to Independence dnd within three miles of Albany. Any one will be suita bly rewarded ror returning I: to thisollloe. VYaykb Williams. WOOD SAWING. Wood sawed on short notice, anywhere in the city. Regular prices. Geo. H. Wakbb. POSITION WaNTED. An experionc .ed Engineer wants a position :o run a traction or other engine. Address K, Dbmourat office. "PVISSOLUTION NOTICE. - Notice is J heret-y given that the co partnership heretofore existing between C, A, Chess man and W. W. Chessman, doing busi ness under the firm name of Chessman Rros.. has this day been dissolved. C. A. Chessman having sold his interest to P. B Ratty. Tte business will continue under the ns me of Cuowinan A Beatty who win lleotall accounts and pay all debts of the heretofore existing Brul of Chessman Ur.n Peoria, Linn Co.. Or., June litis. ISfS, W. W. ChsssmaN, C. A, I'HimxAii. Anil n6w the' 1 four or five republican con gressmen from the south have decided to run a candidate of their own for speaker, and have selected Brewer of North Carolina as tbeir choice. These four or five men are very much dissatisfied with the treatment they have re ceived at the hamlsof Harrison and have de cidetl ujioii this course as a means of making their influence felt. For some time these gen. tletnen have, Flanigan like,heen asking, "what are we here for, any way?" and they r.ror.ose to compel the administration to answer the question, by giving them a full share of the sils in consideration of theii withdrawing their candidate and helping to elect a republi can speaker. H.Kwerr, prtctiial watel maker and .cw elei. FORSAI.E, The undersigned has for sale a horse power ami snpara' jT new and In good running order f.ir sale cheap. Inquire of H, llryant. Adminis trator of the estate .of James Shields , deceased. NOTICE Is hereby given that property owners are required by ordinance 10 cut down and remove all thistles and ob UUAlMlin ww,im nvni,.n igrn promises and upon the streets adjoining I Mllhln tha nil limit nt illan Those failing to do so will be liable to a fine off 5. Albany, June IS.!:, 18?. J, 8. IlOVFUiK, City Marshal. SAND, AC Persons desiring sand, loam or gravel fr.im the premises of K. L. Such in Benlon county, run procure tlcaets lor me same ai my oiiice, uraw. ford's block, Alhuny, Urcgnn. ('MAS, E. WOLVKRTO.I. 1889 SPRING AND SUMMER I8b9 LADIES' DRESS GOODS AND TRIMMINGS. The largest stock and gio est variety in price and .-.a 1 have eyei carried, and as gjod value as ever offered tu the citizens of Luu county. L. E. BLAIN. 5 Stick a Pin in the fsct that I am offering better bargains than any one else in Albany Bought at bankrupt sales I oan sell First-Class Goods t or below COST. General merchandise of all kinds call on me. of shoes. FOR Particular bargains a gamp Cash for Goods or Country prdmfc G W. SIMPSON Albany, Oregco. Special Bargains In Cashmeres, I. colors and bUcks. days. EMBROIDERIES, SKIRTINGS hibited in this city, and at grenly reduced prices. Piques, Lawns, India Linens, Nansooks in white, ecru and colors, -t prices very much cheaps, than ever before offered in this oity. TABLE LINEN, In brow and bleached. Thi. stock I bought in New York than importers' price, and am able 1 to give goc , linen bleached at 50 cents per yard and others P r tnirf! X J W JLlUAXi VTKJ, , Bale, and can sell All these Roods I buy direct from importori by ,B qnan. them much cheaper than if bought 01 joo. ,f gnte w title in New York, and am offering them at prices sell the goods. Y Ladies Cotton Hose-. v. 'r . 1 have succeeded in et Are cheaper this year an ever before. 1 M customer ting some good bargains, all ct which I m ottering the same in -Y MISSES AND CHILDREN'S, U.t u..M.ti..rifc rolicy I . going to do bu"?. and will endeavor to do my para toward! securing and adjoining counties to Albany, and to 'eP . M gnmething r it, li.olv and Drawing tit of Albany. 1 win say about 1 Carpets, Boots snd Shoes, Groceries, SAMUEL E- YOUNG HUH THE REST FURNITURE -CALL ON . THE- Albany Furniture Company OPPOSITK STEWAKT A SOX'S, Who Hav8 in Stock a Complete Line of BED ROOM 8ETS, TABLES, CHAIRS, UPHOLSTERED EGOODS. WALL PAPERS, BABY CARRIAGES, ' ETC., ETC..ET IIAVVlvIiSS &. FAItllELL PURE DRUGS, Paints, Oils, Stationary, Etc.. and PrampUttWi DR. GUISS & SONS
