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United States (United States) (search for this): article 3
ed. The objections urged against such reduction are all recounted and met. He recommends-- First, That compound interest-bearing notes cease to be legal tender from the date of their maturity. Second, That he be authorized to sell United States bonds bearing interest at six per cent., redeemable and payable at such periods as may be conducive to the interests of the Government, for the purpose of retiring not only compound interest notes, but United States notes. The Public dUnited States notes. The Public debt. "It was incurred for the common good, and its burdens should be cheerfully borne. " It "represents a portion of the accumulated wealth of the country. While it is a debt to the nation, it becomes the capital of the citizen." The Secretary advocates--First, Funding the obligations that are soon to mature. Second, To provide for revenues necessary to meet the interest on the debt. He calls for decided and emphatic legislation on this subject. The revenue. The Secretary thinks