The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-08-04
SPIRIT or THE PRESS.
EDITORIAL OPINIONS OF THR LEADING JOURNALS
UPON CURRENT TOP1Os-ooNPmED EVERY
DAY FOR THB EVENING TELEGRAPH.
The National Expenditures.

For many months, the most atrocious false
hoods with regard to the current expenses of
the Federal Government have bsen the princi-
pal stock in trade OF the enemies OF human
liberty. The assertions of Horatio Seymour
in his Bridgeport speech that, in the fiscal
year then current, but since closed 1t was
costing more than $50 900, 600 per annum to
maintain an army to keep the people OF the
South in subjection"--that "More than $780,
000,00 a year have been ,oasted in order to
uphold this policy of reconstruction"--that
"Now, $400, 100000 are raised, and out of it
the public creditor gets only $4,000 000'-
are fair specimens of the gigantic, villainous
lies that have been put forth as facts in Cop
perhead harangues and editorials for the last
eight or ten months.
The Hon. William B. Allison, of Iowa, was
moved to solicit of the Hon. David A. Wells,
Special Commissioner of Revenue, an exhibit
OF the actual income and expenditure of the
Federal Government for the fiscal year which
closed barely one month ago. He made his
inquiry ON the 9th of July; but the accounts
were not yet made up, so that he did not an
swer till the 15th-which is earlier, we be
lieve, than the accounts of a fiscal year closing
with the preceding month were ever laid be-
fore the public. Of course, they may possibly
require subsequent correction as to the petty
details; but that they are substantially accu-
rate, and within a fraction of the exact figures
no one doubts. Let us see, then, how the
assertions:-
Governor Seymour guessed the income for
the then current fiscal year at S4O0, OO0, 900;
and it was actually S406, 800 900 (very nearly;
80 that it is proved that he can make very
good guesses when no political capital is to
accrue from making bad ones.
Now look at the other side OF the account:
He asserts that the cost of maintaining an
army to subjugate the South for the fiscal year
1S67-'6S was ''more than $50, 900, 000" and
that "more than $500 000, 900 year have been
wasted in order to uphold this policy of recon-
struction." Mr.. Wells report shows that the
entire cost of maintaining our army, support
ing the Freedmen's Bureau, and defraying
the expenses OF reconstruction at the South,
amounted in the aggregate to S62, ,727, $50;
though this includes the outgoes OF wasteful
Indian war on the Plains and $1,000, 900 ap-
propriated to feeding Indians whom We had
ceased to fight Very much of the s., 000,0 900
spent by the Freedmen's Bureau went to feed
the helpless widows and orphans of white
rebels left destitute by the collapse of the Con-
federacy; nearly all the residue was paid for
registering voters and holding elections in
States where the Freedmen's Bureau is now
being closed out, while military rule is already
abolished.
Governor Seymour asserted that of the
$400, ,O0O, 600 of revenue for the then current
year, the public creditor gets but 500 900, 900.
Mr.. Wells report shows that no less than
$l4l, ,635, 55l were paid in that year for interest
on the public debt-much of it being the back
interest on the compound intere st notes, which
were paid off in that year with the three years.
compound interest due on them--so that the
interest on the national debt henceforth is but
1926, 100000 per annum After paying this
current interest and back interest, there were
$34, 749 TAT left wherewith to reduce the prin-
cipal of the debt. Thus the years revenue
yielded for the payment of interest and princi-
pal of the debt no less than $l76 3S5, 1885, being
$40, ,3S5, 29S more than Seymour asserted.
Governor Seymour asserted that "More than
$500, 100000 year have been wasted in order
to uphold this policy of Reconstruction" Mr..
Wells report shows that the payments from
the Treasury for every purpose except pay
ment of principal or interest of the National
Debt were less than Two hundred and thirty
millions (precisely, 1929, 9l4, 674); and that
of this amount, besides many millions for
Pensions, there were paid
For Bounties TO our Volunteers. .S3S 900 900
For Reimbursing War Clai inns. lO,S3O 1888
Payments for properly lost in the oo
Military Service Of the United States g. 300
These three items together S53, AL, ,4S8-
are payment of public debt as much as though
they had bought up and Cancelled so many
Five etwenties. They are so much OF the cost
of putting down the Rebellion paid off, and ex-
tinguished, once for all; so that really the
amount of our national debt was reduced
LIE Usual year Ju6L ClOS6u,
the payment of back interest on the compound
interest notes, by little less than one hundred
millions of dollars And instead of the entire
current expense of the Federal Government,
except for the payment of principal and inter-
est of the public debt, being 'mere than $500,
600, 900, " it was considerable less than 5000, )
000, 600.
How do SeymOur's pettifoggers meet this
crushing exposure of their masters falsehoods
and calumnies?
l. The World characterizes our elucidation
Of the actual financial situation as ''dis
graceful business" II sees nothing disgrace
full in Seymour's falsehoods-.it is their expo
sure and annihilation that moves it to vitupe
ration. Some people have queer tastes.
ii. 1t assumes that Mr.. Allison was ignorant
of the facts set forth in Mr.. Wells report
This is mere reckless assertion. Mr.. Allison
may have been perfectly familiar with the
facts, yet prefer that they should be set forth
by an officer of the Treasury whose position
and duties constrain him to understand then
perfectly, and whose statements no one will
venture to dispute.
III. The World wonders why these facts
were not set forth at an earlier day. As the
fiscal year closed less than five weeks ago, and
as it is somewhat difficult to state the outgoei
OF year till after that year has expired, We
need say nothing on this head.
~. The World tries to og the expense
of the Freedmen's Bureau, and to put Mr..
Wells accounts into conflict with those o.
General Howard. But General Howard haG
smashed this juggle beforehand by stating
that the aggregate payments from the Trea
sury expressly on account of the Freedmen's
Bureau, from January l, 1865, to January l.