Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1868-09-25

David A. Wells in order that might de-
fend the credit of the United States
against all comers.
WHAT Is Our DEBr NowS
At the end OF the fiscal year ending
june 30 iS6S, II was ............ 81 ,Sii, ,OOOOOO
But In this amount there wero in
cluded $9a 0O,0 0 of bonds loaned
paid by them. .,'..'...e'.s...... 100000
Net debt. ass ,OOO,O 600
WE HAVE PAID OFF $500, 2,733, 800.
The present debt, deducted from the
maximum debt in 1865, proves the actual
payment during three years of quasi peace
of $500, 133, ,329, or about one quarter of
our entire war liability.
Our net debt is little more at this date,
owing to the Alaska purchase, the further
advance of bonds to the Pacific Railroad,
and the reduction of the revenue from the
frauds of the whisky ring, before the
tax on whisky was reduced.
And now we begin to see to what pur-
pose the revenue of the past three years
has been applied. But another great war
liability has accrued in that period, viz:
the interest upon the war debt, amounting
from April /, 1865, To June 30, 1868, in
coin and currency, to S43S, ,4S4SS3.
We can now strike the balance between
our income and our war expenditures
Income 3k years ,5lO, ,O5s, $50
War debt. .......... $SO2, ,73s 800
Warinterest paid. 43s s4,sS3
- l,sil, AIS, ,9i2
Ordinary expenses. $29S, 81
Including the cost of the late Indian war,
and about $10000000 paid under the direc.
tion of the Engineer Bureau for river and
harbor improvements
NO EXTRAvAGANCE.
This isthe sum and the substance of all
tue charges Of extravaganza and waste.
II it shall be claimed that the whole prob
lem should be stated in currency, the re-
suit is not changed, only our income and
our war interest will each appear u little
larger.
The premiums on sales of gold having
been included in the miscellaneous re.
ceipts, the only addition we have to make
is to add to the war interest the premium
on about two-thirds of the amount paidin
gold at an average rate of forty per cent.
say $l12,O00,000. Our statement will
then stand;
Income 3lf years. ......-.... Si $40 O5s bs3
And value Of premium on gold in
interest pald. d...................... ll2OO0,O00
Income in currency. ......$l, ,65g O5s, ,5s3
war DEBT paid. ......... $500, ,733, ,32g
Premium on gold..... lia,OO6,OOO
-- 81 ,353, ,21s 9i9
Ordinary expenses minimum, 2gS $40 All
Ora little less than $92 900 .OOOa a year
The expenses of the last h,cal year,
under the Democratic adminstra-
tion of James Buchanan, amount
=, ed to............... ...... Is,sil,OOO
Equal to currency equivalent at the
average of 40 for gold, the rate at
which our expenditures should be
taken II our currency expenses be
reduced to gold, to..............,. 1O1 ,5tT,0 600
THE GOVERNMENT CHEAPER THAN Du-
CHANAN's.
1t therefore appears that the expenses of
the Government under the direction of q
Republican Congress, hampered by hos
tile Executive, have been at the rate of
S15,50O,0O0 less per annum than the ex-
penses under the last year of Democratic
rule.
We claim that they might fairly have
exceeded any honest expenditure in 1860,
for we have five or six millions more popu-
lation and vast extent of new territory
to guard and control
If it shall be alleged that we have in
cluded all the expenses of the War and
| Navy Departments for fifteen months
after April, 1865, as war expenses, and
that there would have been a moderate
expenditure under any circumstances, we
will admit it; but the expenses of the In
/ dian war, estimated at $30,000,000 to
| $4,000 600, and the amount expended on
river and harbor improvement ($10,0
O00) for which we have made no allow
ance, but have included as ordinary ex-
penses, would fully offset this claim.
1t would therefore appear, when parti-
sans charge the Republican Congress
with extravaganza, they charge the last
Democratic administration with far
greater.
WHERE BUcHANANs MONEY WENT.
But we are fully prepared to admit their
charge of excessive expenditure against
both administrations. The expenditure
made under James Buchanan, of ST.
S41 900 in gold, amounting to present
currency equivalent of $107, ,577 400, was
largely used to arm and equip the rebel
States in order that they might wage wal
against the Government
The extravagant expenditure of the last
three years has been made in consequence
of the appointment and maintenance
in office of corrupt officials by Andrew
johnson.
We will now close this branch of oul
subject, but let us first rscapitulate oul
figures.
TABULAR STATEMENT.
We have proved that the ordinary
expenses of the Government for three
years and quarter, including the sup
preston of Indian hostilities, and nearly
$10,000,000 for river and harbor i'm
provements, have been at LEES rat
than during the last fiscal year prior Il
the war
We have proved that to the alleged
maximum debt, Aug. 1, 1916 e.. 81 751, ,OS9, 81
} There must be added portion of
the liability OF 1920, US 252. which
existed April /, and of which there
was still unsettled on the 1st Of
Aug. the sum of................... OF. 03O,O43,75
mum debt. .....,.........., ssss7, ,7ss, 80
1st-The liability then not entered
upon the books was all recognized
and settled within three years. and
most OF II was due and paid with
, 9d-The debt upon the books was
/ mostly due at short date, and con-
sisted ofthe following obligations:
} Overdue on which interest had
ceased ,;.:.;.......... ..:..:.:: l,5Oa,Oa
: and 1867. 67............,..., 80, 9l7Oal, ,1e
ISIS. .......:..... .................. saOOOO,OO
1866 -. ...,......,....,....... s5,Oos,OC
and per cent t. w ~ ..'',.D..a.', @ 1O7 O7i4s,7l
cent M wv 1 ~ s3a54 20
Suspended acquisitions. ............ 2,ll1,O
per cent. bonds issued before the
war and due in 1867 and is6s...... 1885, ,5s
Total debt due within three years 81, ,S25 201 "A
DEBT DUE ON DEMAND.
Notes known as legal tender notes
or greenbacksn v which the Re-
l publican party now recognizes as
= q debt due OF demand and has
q paid in part or proposes TO pay
I or to fund in Interest bearing
| .OOnds.... .s........ S4S9, 100. BOB
| Fractional currency o.. 25,844,742
$50 505, ,81l
l Less cash in Treasury. ss,2is,U55 s1l ,2S7, ~
FUHrED DEBT.
Old i've per cents due
> In 1871 and 1874. 81, ,022,000
5 per cent. 1910 bonds
due in 1901. .......... IL, T7O,l00
. per cent. bonds due in
o 1880 and 1881 &c.. .... 2S3, ,625 900
9 per cent. 5 % bonds
.