A popular history of the United States of America, from the aboriginal times to the present day (1881) (14765347071)

Identifier: popularhistoryof00ridpaj (find matches)
Title: A popular history of the United States of America, from the aboriginal times to the present day
Year: 1881 (1880s)
Authors: Ridpath, John Clark, 1840-1900. (from old catalog)
Subjects:
Publisher: Cincinnati, Philadelphia (etc.) Jones brothers & company San Francisco, A. L. Bancroft & co.
Contributing Library: The Library of Congress
Digitizing Sponsor: Sloan Foundation

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JOHNSONS ADMINISTRATION 545 United States. The excepted persons might also be pardoned onspecial application to the President. During the summer of 1865the great armies were disbanded, and the victors and vanquished re-turned to their homes to resume the work of peace. The finances of the nation were in an alarming condition. The war-debt went on increasing until the beginning of 1866, and it was only bythe most herculean exertions that national bankruptcy could be wardedoff. The yearly interest on the debt had grown to a hundred and thirty-three million dollars in gold. The expenses of the government hadreached the aggregate of two hundred millions of dollars annually. Butthe augmented revenues of the nation proved sufficient to meet theseenormous outlays, and at last the debt began to be slowly diminished.On the 5th of December, 1865, a resolution was passed in the House ofRepresentatives pledging the faith of the United States to the full pay-ment of the national indebtedness, both

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