The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1868-10-28
WASHINGTON, D. c., October "a, 1868.

to be furnished with some OF the lea0nS 1actS
then mentioned, touching the national expen-
ditures and the public debt. =! now comply
with your request, regretting, however, that
other and more pressing matters have prevent
ed me from more clearly illustrating the abso-
lutte necessity for immediate reform IN the
financial operations of the government.
In 1776 our national independence was pro
claimed, and, after an exhaustive, 6loody
struggle of seven years, was, IN 1I03, ac-
knowledged by the parent government. In
1i87 the Federal Constitution was ramed, anu
in 1889 the government went into operation un.
der its provisions, burdened with a, debt OF
seventy-fve millions OF dollars, created during
the war of the revolution. Immediately upon
the organization of Congress, measures were
devised for the payment OF the national ol,ll-
cations and the restoration of the public credit;
and when, in 1912, war was declared against
Great Britain, the debt had already been reJuc-
ed to forty-tive millions of dollars. 1t was
then largely increased by the three years
struggle that ensued between the two nations,
until, in 1916, it had reached the sum OF one
hundred and twenty-seven millions. Peace aga
established, provision was made for the earli-
est practicable liquidation of this indebted
ness, in order that it might not become per-
manent incumbrance upon the people. Under
wise and economical legislation, the entire
amount was paid in period OF twenty years,
and the extInguishment OF the national deot
filled the land with rejoicing, and was one OF
The great events of President Jackson's admin
istration. Even after its payment, o iarge
fund remained in the Treasury, which, for
safekeeping, was deposited with the several
States, on condition that it should be returned
when required by the pub ic wants. In 1849,
the wear after the termination Of on expensive
war with Mexico, we found ourselves Involved
in q debt of sixty-four millions; and this was
the amount owed by the Government in 1850,
just prior to the outbreak of the rebellion.
In the spring OF 1861 the war OF the rebel
lion commenced. Each year Of it's continu-
ance made an enormous addition to tho debt;
so that when, in the spring of 1865, the nation
successfully emerged from the dreadful con-
fict, the obligations OF the government had
reached the vast amount of twenty-six hun
dred millions. They had not yet, however, at
tained their highest point; for, when the army
and navy had been paid, the volunteer forces
disbanded, and the navy largely reduced; it
was found, in February, 1866, that our indebt-
edness exceeded twenty-eight hundred millions
Of dollars.
Having thus referred to the Indebtedness of
the government at various periods OF its exis.
tence it may be wellto call attention to brief
statement of facts connected WITH its eXpendi-
lures.
From the fourth day of March, 1889, to the
thirtieth OF June, 1861 tho entire public ex-
pendlturcs we're seventeen hundred millions OF
dollars. Although covering period OF seventy
two wears, this amount seems small when COM
pared with the expenses OF the government
during the recent war of four years duration;
for, from the first Of July, 1861, TO the Thrift
eth OF juno, 1865, they reached the enormous
aggregate of thifty-three hundred millions OF
dollars! An investigation into the disbrrse-
ments since the first day of July, 1865, further
shows, that by adding to the expenditures Of
tho last three years tho estimated cost of adj
ministering the government for the year end
ing the thirtieth Of June, 1869, we obtain the
sum of sixteen hundred millions Of dollars as
the amour: requiroc for the four years imme-
diately following the cessation of hostilities, or
nearly as much as was expended during the
seventy-two years that preceded the war.
1t will be seen, from this brief review, that
from 1871 to 1861 our public debt was al no
time mure than one hundred and twcnty-scven
millions Of dollars, while subsequently, four
years Of civil war eX, landed it to twenty-eight
hundred millions. 1t will also be perceived
that while, prior to 1861, the largest annual
disbursement was not quito scvcnty-tour mill
lions for the year 1858, the expenditures du-
ring the last three years of peace have success
siyely been five hundred and twenty millions,
three hundred and forty-six millions, and threo
hundred and ninety-three milions-thrce hun
dred and seventy-two millions being the amount
which it is estimated will be necessary for the
year ending the thirtieth of June next.
In making this comparison, we should re-
member that during the long interval between
1889 and 1861 tho government was frequently
required to make expenditures Of an extraor-
binary character. Large sums were paid TO
Indians as annuitics, and for the purchase OF
their lands, and expensive wars were waged
against powerful tribes. Louisiana vas ac-
Quired from France at cost Of fifteen millions
OF dollars; Florida, in consideration OF five mil
lions, was ceded to us by Spain; California be-
came part of our possessions on payment 10
- u,,it IN mil
lions our government secured from Texas the
territory Of New Mexico. During these periods
of our history we were also engaged IN wars
with Great Britain and AIexico-the first waged
against one of the most powerful nations OF the
world, tn other made additionally expensive by
The prosecution Of military operations IN the
enemy's territory.
Tie startling facts, thus concisey stated,
suggest an inquiry as TO the cause OF this inn
mense increase in the expenditures and indcbt-
edness OF the country. During the c,v,i Sar
the maintenance OF the Fedcral Government
was the one great purpose thai +il'inlted our
people, and that ccon3.n? which should always
characterize OIL: tiaa2c:a operations was over
looked in the glcat effort OF the nation to pre-
serve its existence. Many abuses, which had
their origin in the war, continued 10 exist long
after it had been brought to triumphant
conclusion, and tho people, having become
accustomed 10 lavish expenditure OF the
public money for TN object so dear to them
as the preservation OF the integrity OF their
free institutions, have patiently tolerated taxa
tion Of tho most oppressive character. Large
sums of money continue 10 be eXtorted from
them, and squandered in useless and extrava-
CANT appropriations. Enormous expenditures
are demanded for purposes, the accomplish
ment Of which requires large standing army,
pervcrsion Of the constitution, and subjugatlon
of States to negro domination. With mill
tary establishment costing in time OF peace not
less than one hundred millions annually, and
debt, the interest upon which draws from the
treasury each year nearly one hundred and
fifty millions-making total of two hundred
and fifty millions of dollars for these two items
of expenditure alone-retrenchmen has be-
come an absolute necessity, or bankruptcy
must soon Oyertake us, and involve the coun-
try in It's paralyzing and disastrous results. Ii,
however, wise economy be adopted, the
taxes may soon be materially reduced, not
merely for the benefit OF O few, but in the in
terest of all. A revenue would yet remain suf-
ticient for the administration Of the govern
mcnt, as well as for such reduction OF the
public debt as would in few years relieve the
people from millions of interest now annually
drawn from their resources.
The idea that the debt IS to become perma-
nent should be at all times discountenanccd,
as invoking taxation too heavy to be borne,
and payment OF an amount in interest every
sixteen years equal to the original sum. The
gradual liquidation OF the public debt would
by degrees release the large capital Invested IN
the securities of the government, which, seek
would add to the wealth of the nation, upon
,rl,,a at< "a ca n