The Fremont weekly journal. [volume] (Fremont, Sandusky County, Ohio) 1867-1877, 1868-12-18
FREMONT SANDUsKY COUNTY FRIDAY DECEMBER l8 1868

about 81 900, 600, giving only 81 per cspit'
III r the war expenses of that year. In 1866
the expenditures called for By the rebellion
reached the vast amount of 81 290, 600 600
which. compared with a population Of 81.
100000, gives $38 26 per capita From the
4th day Of March, 178S, to the 30ih day o.
June, 1861, the entire expenditures Of the
government were 81, 7O0,000,0OO During
that period we were engaged in wars with
Great Britain and Mexico, aud involved il
hostilities with powerful Indian tribes
Louisiana vas purchased from France at
coat Of $I5 006,000; Florida was ceded to u
Il by Spain for i've millions, California was ac
tquiTed from Mexico for fifteen millions, and
the ter tory Of New Mexico was obtainet
from Texas for the sum Of ten millions
Early in 1861 the war of the rebellion com.
meneed, and from the first of July of thai
+ year TO the goth of June, 1865, the public
expenditures reached the enormous aggre-
gate Of thirty -thres hundred miIlioBs. Three
years Of pesce have interviewed and during
that time the disbursements of the govern.
ment have been i've hundred and twenty.
five millions, three hundred and forty-sil
millions, and three hund ed and ninety-thres
millions. Add to these three hundred anC
seventy two millions, estimated as the sun
necessary for the fiscal year ending June 80
1859, we obtain total expenditure of six,
teen hundred millions Of dollars during tn,
four years Immediately succeeding tie war
or nearly as much ~ was expended the sever
ty-two years that preceded the rebellion ans
embraced the extraordinary expenditure.
already named. These startling facts clear
ly illustrate the necessity of retrenchment il
all branches Of the public service. Abuses
which were tolerated during the war for th5
preservation Of the nation, will not be en-.
dured by the people now that prOfouod peace
prevails.
The receipts from internal revenues and
customs have during the D1st three years
gradually diminished, and the continuance
of useless and e1travagant expenditures vii
involve us in national bankruptcy, or elsa
make inevitable an increase of taxes already
100 OnerouE, and in many respects obnOx-
ious on account Of iDquisatOTial charac' or.
One huadred millions annually are expend-
ed for the military force, large portion OF
which is employed IN the execution of laws
both unnecessary sni unconstitutional.
One hundred and fifty milliops are requir-
Ell each year TO pay the interest on the pub
4 lie debt, an army Of tax gRtherers impover-
lshes the nation and public agents, placed
4 by Congress beyond the control # the ex-
lecutive, divert from their legitimate pur-
poses large sums OF money which they col
leet from the people ia the name Of the
government. JudieiOus legislation and
prudent economy can alone remedy ihess
defects, and averis evils which if Suffered
i TO exist, cannot fail to diminish confidence
in the public councils. and wesken the at
] tschment and respect Of the people to-
ward 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 viii not be
realized, and additional millions will b.
added to debt which is now enumerated
BY billions
REoEIPTs AND IXPENDITUREs.
1t is shown by the abe and comprebeu-
sive report Of the secretary Of the treasury,
that the receipts for the fiscal year ending
June 80, 1868, were S405 ,638, ,053, and ihat
the expenditures for the same period were
! S377, ,246,254, leaving in the treasury a sur
plus Of $l5 297, 795. 1t is estimated that
the receipts dur ng the present fiscal wear
ending June 30, 1869, will be S34I, 393, 1853.
ard the expenditures 1886 l52, ,470, showing
small balance of S524039s in favor Of
the govern ment. For the fiscal year end
utuk 0uBC OOf 4OsOI ~ 10 bUdb lDE
receipts will amount to S327 O00, 900 and
the expenditures to S9O3O00 900, leaving an
estimated surplus of So, 900 600. Il
OUR NATIONAL INDEBTEDNESS.
1t becomes proper in this connection to
make brief reference to our put lie indsbt-
ednpss, which has accumulated with such
alarming Tapidity, and assumed such colos.
sal proportions. In l1e9, when the govern
mant commenced operation under the fed !
eral constitution, it was bufdened with an
Indebtedness of seventy five millions OF
dollars created during the war Of the revolu-
ton. This amoupt had been reduced 10
forty-ive million dollars, When, in 1912,
war was declared against Great Britain.
The three years struggle that followed
largely increased the National obligations
and 10 1916 they bad attained the sum Of
one hundred and tweuty-seVen millions.
Wise and economical legislation, however
en- tbled the government to pay the !entire
amount within period Of tWenty-three
years, aud the extinguishment of the nation
al debt filled the land with rejoicing. and
was one Of the great events Of President
JacksOn's administration. After its re
dsmptiOn large fund remained in the
treasury, which was deposited for safe !
keeping with the several states on condi- |
tior that it should be returned when 70 quired
by the public wants. 10 Is49 the year
after the Termination Of an expensive war
with Mexico, We found ourselves involved |
in debt Of siIty-fouF millions and this was
the amount owed by the government in |
1860, Just prior to the outbreak Of the |
In the spring Of 1861 our civil |
war commenced. Each yeIr Of its contiDu-
auce made an enormous addition to the debt. |
and when, in the spring Of 1865, the nation |
emerged from the conflict, the |
of the govsrnment had reached
the immense sum Of $2.573, 992 909. The |
secretary Of the treasury shows that on the /
1st day Of NOvembsr, 1867, this amount had /
been reduced to 81 40l ,5O4 $50, but at the
same time his report exhibits an increase
during the past year Of S35, 625,I62, for the
debt is stated to have been s., ,527, ,l29 $50.
Il is estimated by the secretary that the
returns for the past month will add to our
liabilities the further sum Of eleven millions,
making a total increase during thirteen
months Of fOrty-six and half mill.ous.
ExTTNGUIsHNENT OF OUA DEBT.
In nv message to Congress Of December
4'h, 1865, it was suggested that q policy /
should be devised which without being \
oppressive to the people you'd at once be-
gin to effect a reduction Of the debt, and fflt
persisted in discharge it fully within a def
mite number of years. The secretary of
the treasury forcibly recommends legislation
Of this. character, aud Justly urges that the &
longer it is deferred the more difficult must
become its accomplishment. We should
follow the wise precedent established in ID
I7s9 and 1916, and without further delay /,
make provision forthe payment of our OBJ Ii
legations at IS early a day ss may be prac Il
ticable. The fruits Of their labOrs should I
be enjoyed by our citizens rather than !
used to build up and sustain moneyed mo- I
lopolies in our own and other lands. Our L
'oreign debt is already computed by the sec h
-etar of the treasury at eight hundred and /
fifty millions. Citizens OF foreign countries /
upon large portion Of our '
Iecurit es, and American taxpayers 6Te Ii
made to contribute large sums for their sup "a
oort. The idea that such debt is to be- a
,Oms permanent should Be at all times dis Is
.arded as involving tsKation too heavy to L
% borne, and the epayment once in sixteen ID
resrs at the present rate of interest, of an y
mount equal TO the original sum. This L
ysst debt, If permitted to become permanent a
nd increasing, must eventually be gather Ia
IA into the hands of few and enable them d
o exert a dangerous aud controlling power IS
D the affairs of the government. The bor- u
overs would become servants to the lenders; Ia
he lenders the masters Of the people. Wei e
low pride ourselves upon having given free t
Iom TO four millions Of the eolOFCd race hi
t will then be our shame that forty mil e
ions of people, by their own liberation Of n
Isurpation and prof igacy, have suffered c
themselves to become ens'aved, aud merely 10
slave owners for new taskDasters d
a the shape Of bondholdsrs and tax gather v
), and besides, a permanent debt pertains ,
0 mouarchisl governments, s, tending to mo- a
opoIies. Perpetuitiss and close legislation o
re totally irreconcilabls with free institu- s.
ions Tntrodr,rad info our Penuhiican Y