The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1868-12-10

1Qa was ceQcQ TO the United SbaUeS "
Spain for five millions; California wa
acquired from Mexico for fifteen mil
lions, and the Territory of New Mexico
was obtained from Texas for the sum o.
ten millions. Early in 1861 the war q
the rebellion commenced, and from the
1st of July of that year to the 9th ol
June, 1866, the public expenditure:
reached the enormous aggregate ol
thirty-three hundred millions. Three
years of peace have intervened, and
during that time the Disbursements oi
the Government have successfully been
five hundred and twenty mil.
lions, three hundred and forty
six millions, and three hundred
and ninety-three millions. Adding to
these amounts three hundred aud sew
eaty-two millions, estimated as neces-
sary for the fiscal year ending 3Oth oi
June, 1869, we obtain total expendi-
ture of sixteen hundred millions of dol
lars during the four years Immediately
succeeding the war, or nearly as much
as was expended during the seventy
two years that preceded the rebellion,
and embraced the extraordinary expen-
ditures already named. These startling
facts clearly illustrate the necessity OF
retrenchment in all branches of the
public service. Abuses " hich were tol-
Grated during the war for the preserva-
tion of the nation will not be endured
by the people now that profound peace
prevails.
REVENUE RECEIPTS AND OUTLAWS.
The receipts from internal rev.
enues and customs have during the
past three years gradually diminished,
aud the continuance of useless and cx-
travagant expenditures will involve us
in national bankruptcy, or else make
inevitable an increase of taxes already
too onerous and in many respects OBJ
noxious on account Of their linguistic.
rial character. One hundred millions
annually are expended for the military
force, large portion of which is en-
ployed in the execution of laws both
unnecessary and unconstitutional. One
hundred and fifty millions are required
each year to pay the interest on the
public debt. An army of tax-gatherers
impoverishes the nation, and public
agents, placed by Congress beyond the
theft Legitimate purposes large sums OF
money which they collect from the peo-
pie in the name of the Government. Ju-
dicious legislation and prudent economy
can alone remedy defects and avert
evils which, if suffered to exist, cannot
fail to diminish confidence in the public
councils and weaken the attachment
and respect of the people towards
their political institutions. Without
proper care the small balance which it
is estimated will remain in the Treasury
at the close of the present fiscal year,
will not be realized, and additional
millions he added to debt which is
now enumerated by billions. 1t is
shown by the able and comprehensive
report of the Secretary of the Treasury
that the receipts for the fiscal year,
ending June 3Oth, 1865, were S4O5,-
63S, ,OS3, and that the expenditures for
the same period were 1877, ,340, pa, leav-
ing in the Treasury surplus of SIS,
297,79 1t is estimated that the re-
ceipts during the present fiscal year,
ending June Both, 1869, will be S34l ,392, :
S6S, and the expenditures S336, 152, 40,
showing a small balance of S5,240, 1913
in favor of the Government For the
fiscal year, ending June Both, 1870, it is
estimated that the receipts will amount
to 1897, 900, 900, and the expenditures to
1903, 100000, leaving an estimated sur
plus of S2i,OOO,O0O.
OUR NATIONAL INDEBTEDNESS.
1t becomes proper in this connection
to make brief reference TO our public
indebtedness, which mas accumulated
with such alarming rapidity and
assumed such colossal proportions.
In 1883, when the Government CON-
menced operations under the Federal
| Constitution, it was burdened with an
indebtedness of seventy-tive millions of
dollars, created during the war of the
Revolution. This amount had been re-
duced to forty-five millions of dollars.
When, in 1872, war was declared against
Great Britain, the three years struggle
that followed largely increased the na-
tional obligations, and in 1916 they had
attained the sum of one hundred
and twenty-seven millions. Wise and
economical legislation, however, en-
abled the Government to pay the en-
tire amount within period of twenty
years, and the extinguishment of the
national debt filled the land with re-
ioicing, and was one of the great events
| of President Jackson's administration.
After its redemption, large fund re-
NAMED in the treasury, which was de-
posted for safe-keeping with the sew
| eral States, on condition that it should
| be returned when required by the pub
lie wants. In lS49, the year after the
! termination of an expensive war with
! Mexico, we found ourselves involved in
| debt of sixty.four millions. and this
was the amount owed by the Govern
ment in 1860, just prior to the outbreak
of the rebellion. la the spring OF lSol,
our civil war commenced; each year OF
its continuance made euormsus ad-
ditious to the debt, and when, n the
spring of 1865, the nation successfully
emerged from the conflict, the obliga-
| tions of the Government had reached
the immense sum of 81 ,S73 ,992 ,909. The
| Secretary Of the Treasury shows that
on the first day of November, 1857, this
amount had been reduced TO S2,49l,-
/ 5O4 .450; but, at the same time, his re-
port exhibits an increase during the past
year of $50, ,625, ,102, for the debt on the
! first day of November last is stated TO
have been S2,527, ,l29,552 1t is esti
mated by the Secretary that the re
turns for the past month will add to
our liabilities the further sum of eleven
millions, making total increase dur
ing thirteen months OF forty-six and a
half millions.
NO MoNIED ARISToCRACY.
In my message to Congress Of Decem-
Der 4th, 1866. it was suggested that the
policy shsuld be devised which, without
being oppressive to the people, would
at once begin TO effect reduction OF
the debt, and if persisted in, discharge
it fully. within definite number OF
years. The Secretary of the Treasury
fercibly recommends legislation of this
character, and justly urges that the lon
ger il is deferred the more difficult must
become its accomplishment. We should
follow the wise precedent established in
1883 and 1916, and without further de-
lay make provisions for the payment OF
our obligations at as early a period as
may be practicable. The fruits of their
labors should be enjoyed by our citizens
rather than used to build up and sustain
. II