Alexandria daily advertiser. [volume] (Alexandria [Va.]) 1803-1808, 1804-06-29

Thee cause, which operates most power
fully ia displacing an administration in
elective governments, is generally the
charge OF rnismanaging the national hnaa-
ces. Thus it happened to the WAsHiNS-
TON and AD45Is administrations. So often
did the partizans of the present rulers ex-
claim against the federal direction of the
revenue; SO often did tnev repeat the cry
of venaliey, corruption, and proaigality IN
those who confronted t. thatm defiance of
truth, they al last eiectrih ID hepublic mind,
and produced chang. An examination
however Of the state Of finance at the COM
mencement, and during the former govern
ment, will ONCE MORE, IN ALMos r~IsNUME-
RABIE TIMES, discover the only reason TOR
such change, Conscious FALSE HOOD. 1t
will show the fiscal operations OF the tede-
raj administration to have been highly con-
ducive Of the prosperity Of the nation; and
consequently the conductof the. successors
towards them, to have been unprinclpled
and disgraceful. 1t will point to the cause
of the consideration and respect, which we
enjoyed among foreign nations; and enable
US by comparison, In the conclusion or
these numbers, to ascertain the merit OF the
respective administrations.
From report of a committee of Con-
greSs, appointed March 90, 1900, to exa-
mine the accounts of the United States, re-
lat.ng to the public debt, and a report of
Mr.. GALLATIN, dated December Is, 1901,
with the documents, to which IN these re-
ports there is reference, itappears that the
federal administration received from the
confederation debt of 1871 ,955 dol
lars. The property of the United States,
which they possessed, when their fiscal ar
rangements began to- operate, and which
was applied to the exeinglishment Of the
public debt, amounted to little more than
two millions and half. The debt, therefore,
for which the federallsts hadto provide, was
74,185,596 dollars. Tnis SUM was to be
paid bv the proceeds Of revenue, as yet
+ scarcely svstematized. On the first day
Of JANUARY 1898, when the conduct Of
France had forced us to arnl our vessels,
after drinking ,he.cup Of humiliation 70 the
dregs, the amount Of the debt was 67 627-
$50 dollars. At this time therefore the
government had discharged more, than six
millions and a half. On the first Of Janu-
ary, 1900, the debt amounted to 20, 212,7
dollars. From 179S to 1900 it had conse-
quently increased upwards OF two and an
half millions. This increase arose from
extraordinary expenditures, Ia consequence
Of thewanton and unprovoked aggression
|! of France. But the national debt, which
the federalists had to pay, was 74,t85,596
dollars, They had therefore in the year
| 500 diminished it almost four millions sef
dollars.
Mr.. Gallatin in his report states the
| public debt on the.frst of January 1901, to
have been fraction more. than eighty mil
lions. Butin this statement he makes no
allowance for upwards OF two millions of
dollars then IN the treasury, cash in the
hands Of collectors, the amount of bonds at
the custom houses, and bank stock, all which
must have amounted to more than ten
millions. On the first day of January in
the preceding year these items annotated
to this sum, and the revenue then was not
SO great as in 1900. According to Mr..
Gailatin' own statement then, the debt was
little less in the beginning of 1901, than
the committee >ot Congres made it in
1900.
! But this was not ali The federalists per-
! formed while II Office. According to an
authentic communication, froma former
/ men2ber Of Congress. ttSey paid FOR inter
| est on the public debc between the year
1890 and 1900 : upwards ogtwenty three
and an half lnillions Of dollars. Inaddition
] to I3issun, waieh public faith and credit
obliged tllega to pay, they We're IN Ter the
necessity ofpayiDg more than6ve hundred
thousand dollars for Incidental claims, az.