Dodgeville chronicle. [volume] (Dodgeville, Wis.) 1862-current, 1868-09-25

At the end of the fiscal year ending
June 30. 1885, it was -. 81, ,511 eco 900
But in this amount there were in
cluded sec, 900 ,0U0 of bonds loaned stta uJ
to the Pacific Railroad, and to be
paid by them. ....................... $4,000 900
Net debt. ~. 50, ,4S5, ,QOO, 900
WE HAVE PAID OFF 1902, 7333, ,329.
The present debt, deducted from the
maximum debt in 1866, proves the actual
payment during three years of quasi peace
of $500, 1885, ,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 1, 1865, to June 30, 1868, in
coin and currency, to $439, ,4S4 1888.
We can now strike the balance between
our income and our war expenditures
Income mc "a years ana 20; sso $40 ,5S3
War War Gset;; no;d ~ 9s ~ sss sss
A 4 II A. ---,-~ ,--,--0,---
Ordinary expenses. ................ $29S $40 ,371
Including the cost of the late Indian war,
and about $40, 100000 paid under the direc-
ton of the Engineer Bureau for river and
harbor improvements.
NO EXTRAvAGANCE.
This is the sum and the substance of all
the charges of extravaganza and waste.
If 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 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 paid in
gold at an average rate of forty per cent.
say $112,0OO,000. Our statement will
then stand: ,
Income 3A years 81 SAC, ,05S, ,5S3
And value of premium on gold in oo
interest pald. d..................... llS,ooO,VOO
Income in currency. 81 ,652 O5s ,5s3
War debt paid. d.....-.... sSs, ~, 3S9
81, ,s5s, ,21s a12
Ordinary expenses. s............. 29S, ,S40, 81
Ora little less than 1872, ,000, coca year.
The expenses of the last fiscal year,
under the Democratic adminstra-
tion of James Buchanan, amount
ed to............... .............. 7s,s41 200
average of 140 for gold, the rate at
r. which our expenditures should be =
@ taken if our currency expenses be ID ~
reduced to gold, to. ...........s 107,5i7, ,000
| THE GOVERNMENT CHEAPER THAN BU-
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
! $15,500,000 less per annum than the ex-
penses under the last year of Democratic
rule.A "a "a -
We claim that they might fairly have
exceeded any honest expenditure in 1850
for we have five or six millions more popu-
lation and vast extent of new territory
to guard and controIi Il I'9 Gl)l}sa Z
If it shall be alleged that we have in
cluded all the expenses of the War and
i Navy Departments for fifteen months
I after April, 1865, as war expenses, an6
that there would have been moderate
expenditure under any circumstances WE
i will admit it; but the expenses of the In
dian war, estimated at $30,000,000 tC
| $4,000, 900, and the amount expended OF
river and harbor improvement $4,000,
000) 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 las
Democratic administration with ia
greater.
WHERE BUcHANANs MONEY WENT
But we are fully prepared to admit thei
charge of excessive expenditure agains
! both administrations, The eypenditur