Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1868-11-05
THE THhEEt Ni1TiDHAL a FINANCES. aids7

The Rrsaasptae SsTh hssssd dressed lies
the tH saeEing sffsrtp GsnsIl b EEing ,dsis
w1suissaaos' isaaAo b q, ostsbss s2i 'isesJ
Dear SYN recent conve versati6n UPON the
subject OF Tie finances, you expressed sdesire to
befanished titho some Of the leading, fac6S then
mentioned, touching the national expenditures of
regretting, hoyeysr, that other and more pressing
matters have prevented me from morg clearly Illus
trading the absolute necessity for Immediate reform
in the financial operations Of the government
,dHt3 utnaioial limdapenden Waslfhciaimed
and .aAerap exhaustive; bloody struggle sf seven
years, was, Tin. l783, acknowledged BY the parent
government. in :17s7 the Federal Constitution
Was famed, did In l78s The g9ver1rneit went into
opeffsatii91 under as provisions, bukdsheds With
debt Of fiseeentys ofdolsis czeatedd du-
ring the war of the revolution .Immetiately upon
the organization efs CyuGaw, measures yere de-
yissd tpr the peysnent Of tbe patiegal Obligations
T sss Rsss sfe sm aea sn, EaSn
,he dsbs had already besa lredaeed to fetyaive
nillious 6ft d0thts ShH was them irgely iBoreAsed
by the three years struggle that. ensued between
the two nations, until in l8l6, it had reached the
sum of one hundred and twenty: MILLIONS Peace
again established, provision was made for the ear
Hest practicable liquidation Of this indebtedness, in
order that it might not become permanent iDcnm-
psOple!s UiderNise and eeonom-
ieat hgslstiags the entire amount waspaid ina pc
Rod of twenty years, and the extihgushment of
the national debt filed land with rejoicing, and
Vas one Of the great events Of President Jackson's
ssdmmist ration; Even after its 'payaent 20 large
ksepinglwas deposited with the aeyesslS States, on
ooadition that il should be returned when required
by the public. wants. In l849 the year sfter the
termination Of an expensive war With Mexico, we
found ourselves involved in debt of sixty.four
millions and this was the amount 9Hed by the
Igovernneutin 1850, just prior 10 the outbreak of
the febeili0n.,l Es-,n.,f.i< a. ,.ES I asf. ~
the spring Of 1851 the, war of the rebellion
commenced, Bach year Of Its continuance made
an enormous addition to the debt; so that when,
in the spring Of 1856, the nation successfully e.
merged h1m the dreadful coufiet the Esbiigaeions
of thesoEernment hadresched the vast amount
Of t.epty-gx hundred millions They had not
yet however, ,jNtaiped their highest point; for,
when the army and navy had BEEN paid, the volun-
fotrss disbsndeds and the naSy largely reduced
iswas foand3 ~ February 1899 that our indebts
ednas exeeeded twenty hundred milliops Of
dollars. vss ri
.. Having thus referred. to the indebtednsssof the
,aoyelnpeM st various period Of its existence, it
PmaS 'bs we'll TO call attention to brief statement
'Sflstts connected with its expenditures. 90
:qRrom the fourth dayof March, ,yl7s9, to thethir-
tsthef Jnne, 1851, the entire public cexpeBditures
[Here seventeen hundred millions of dollars, Al
though covering period Of seyenty-two years,
this amount seems small when compared with the
Fexpenses Of the government during the recent war
Of four years duration for from the first Of July
I36f, TO the thirtisth OF june. 1866 they reached
u ~ lad