On the record
The principal of the Public Debt was undergoing a monthly reduction and the gain in the interest account was sufficient to guarantee the payment of the principal in half a century.
Source
gutenberg.orgEditor's note · Context
Boutwell highlights the positive trend of reducing the Public Debt and its implications for future payments.
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More from George Boutwell
General Grant had no disposition to usurp power.
My active radicalism had alienated the conservative Republicans.
The spirit of philanthropy animated his politics, and the doctrines of peace controlled his public policy.
There was not in General Grant's nature any element of suspicion, and his confidence in his friends was free and full.
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