New-York tribune., 1868-08-26
THE NATIONAL EXPENDITURES.


relied on to effect the restoration of Howell
Cobb TOOmbs, Wise g. Co., to unchecked
power in our Union, and especially in the
States recently plunged into rebellion. We
have repeatedly specified the grounds whereOn
our conviction is founded. Horatio Seymour's
shameful misStatements In Connecticut last
Spring that the current expenses OF our Gov
ernment were $3OO,OO0,0OO per annum-that of
800, 900 raised by taxation. only SlOO,OOO,-
900 were paid to the National Creditors-and
that S15O,0OO0OO were spent on the army en-
ployed in holding the South in subjection-are
specimens Of assertions which their authors
must kaow to be false, or they are too grossly
ignorant to DO intrusted with tho direction OF
public affairs.
Commissioner Wells, who has general su-
pervision of the entire Revenue system of the
United States, was lately required by the Hon.
w. b. Allison of Iowa to set forth specifically
and luoidy the actual expenditures of the Gov
ernment for the fiscal year which closed with
June last-less than two months ago. Mr.. Wells
did as he WAS required, aud his statement was
promptly laid before the public. Up to this hour
no man has ventured directly to lmpugn Its accu-
racy, nor laid his finger on any item OF his ex-
hibt, and said "This is incorrect" Bear III
mind that the President is our envenomed adj
versary and that the Secretary of the Treasury
is his facile, willing instrument, while the Stats
tician of the Department is an avOWed Copper
head, and Judge whether it is possible that any
material error in Mr. Wells's exhibit can have
remained TO this hour undetected or runeXp0sed.
I. The World instead Of taking issue dI-
rectly with Mr.. Wells, chooses to pick flaws III
a restatement of his figures by the Hon. John
Sherman. II says
Senator Sherman states under all the responsibility
which belongs to his position that si o lhe pubic
debt has been paid In the fiscal year which has
Bu gecretsry cCulloch I'm his statement Of the PUBIC
debt the lst OF August makes the amount oI he ueu
at that date minus the money IN tho treasury t'Sof
$50 The statement OF Secretary McCuoch for the LIT OF
August 1867, made the amount OF the pubuc deO, minus
no other sk than knowledge OF sbpie subtraction to
show that the debt instead OF diminishing has reassa
cashing here is not between the statements OF Demo
cratic stump orator and Official figures but between the
tie Treasury The declares that the National Debt
has decreased more than t300oGo the other that II mas
iuo,s0eed more than k20 0OO0O-making discrepancy on
more than t4GOOoW0 Senator Sherman has repeated te
figures of Commissoner Wells, and Commssloner Weis
declared that he took his figures from the books OF the
Treasury Department. The Secretary OF the treasury ol
took his figures from The books OF his own aepa ~
ment. not Gov. Seymour abundanuy JUSTIFIED IN
intnating that the financial condition OF the country
deliberately concealed from the people when such
fagrant con tradctions stare us in the face :"
is not this cOol7 The Treasury Depart
ment is in the hands of Mr.. Andrew Johnson's
man Friday-in effect of Mr.. Johnson himself.
Wa have tried to clear out the concern and
put Republicans in their places but failed.
And now it is charged that johnson, McCul-
loch, and Delmar, are concealing facts and
mystifying accounts for our benefit Can there
be fool OH earth who is fool enough to be-
Iieye it, Can there be man 50 ignorant as
not to know that. if tho Treasury books bore
witness to fact that could be used TO dam
age tho Republicans, it would be instantly Dla-
zoned to tho publici
But how is it, asks The World if VIC have
actually paid off Debt during tho last fiscal
year, that the aggregate indebtedness OF the
Government seems to have increased from
August, 'G1, to August 'GS, from S2,jll,3OG42G
to S., ,523, ,534,4 ,4S0f We answer; /. The Worlds
year is not identical with that set forth by Mr..
Wells. 2. We have recently incurred, mainly
within the past year, q contingent responsible
ity of over 32OO0,OOO in aiding the construc-
tion OF the several Pacific Railroads. This
debt il owed primarily by the Railroad COmpa-
nies. both principal and interest being payable
and paid by them: so Mr. Wells does not,
aggregate of our National Debt, which he
thereby makes S2,52 353l,4SO. when it would
otherwise be considerably short of S2,jOO,OOO,-
600. Here we have readily accounted for
$32,O0O,OOO of The Worlds discrepancy; if wo
had time, we could, doubtless, account for the
rest.
We repeat that the Government actually and
positively reduced the aggregate Of its funded
War Debt during tho last fiscal year; but it in
Cured q new contingent responsibility in aid
ing tire rapid construction of the Pacific Roads
"a debt which is practically but an indorse-
mont, whereOn the indorser il well secured.
Would The World count the cost OF the Paci
fc Railroads as a part of the current expenses
of the fiscal years wherein they are con-
structed9
II. The World finds another mares-nest in
tho interest account Of Dir. Wells. We copy
its arraignment in full:
The aboye-quOted statements from Senator shermans
speeen maze ~. sng anUear yesT 81 II n mnst he Rent In
mind that tho egaltsnder notes and the iaCtOnh cnr'
rency arc part OF sno public aeD' ana S @ on @ oSS no no
ductng this from tho total debt one year ago ana here
remain. about o Oh w1en .s o e Coo Gsfeoa " 30
A OOO Senator lShorman states But OF the inter
estbearnE debt there Is a considerable amount on which
HE rate IA only per cent may be seen la the follow
ING cures taken from the August statement Of the Sec
retaTy OF the Trcasuryi
THE PUBLIC DEDT STATEMENT.
Statement OF the Public Debt OF tho united Slatos on
the lst Of August 1868:
Debt bearing Com Interest.
tyve norIcent ibonds ........... Sa2t 5se, 400 90
sir rtr cont bonds OF 1891 ....... 2s3677,I 400 90
Six per cent. FveTwenty bonds lbsJlO0Oo 20
Total ... .............. g., ,Oes 3Tl, 800 90
Debt bearing Currency Interest - -
Threeyc compound interest notes tlGO4sO 90
Certidcstta AT nor cent -........... 5OO00O0O 90
Navy pcnsIon fund at threo por CONT. 100000 90
Total ... SEA 604, 800 90
~, ~ In