New-York tribune., 1868-10-28
TIE PRESIDENTS FINANCIAL ESSAY.
To the Editor Of The Tribune.

To the Editor OF The Tribune.
SIR: Mr.. Acting President Andrew johnson
favors the country from his seat at the White House.
with an essay oil the finances Of the country We're truth
his object he had at his command the latest returns and
the most trustworthy statistics but obvious that his
object is to help faction. not 20 demonstrate facts.
single illustration shows his entire disregard for facts
He sets the national expenses 100000 and arrives
this result by setting down the annual Interest on our
debt at $l50DO0000 Qnstead OF It's true amount since Oc
tOber when OF three years compound interest
were paidJ which Is but Sl2O0OOOO Here is one item OF
of $50 600 nearly half his whole Oyersatemen
aud any demonstrate his gross inaccuracy Dy
taking the Secretary Of the Treasurys monthly state
ment and figuring up the interest
OF the Committees OF Ways and Means, and the actual
tile current fiscal year $2sOOOO0 FOR interest and
everything, in place OF $3I2YOOOCOO Doubtless he has
fallen back Demar, who was SSOOGOOCO out OF the
way but he has etectuay destroyed his influence by
dverging from facts only quarter Of that amount IL
Will be well for the Acung-Pfesldent 10 cOhnne hhlse
i'm future to safe geerdes, and for the latter not to
leave his proyincethe collection OF Cust0uH0use
returns OF exports aud impOrs-and not 10 dIGIge INTO
Mr.. McCuOcs province OF finance, In whch Delmhi Is
little ut home the bull in the china shop May he
not say, Ne sutor Mira cTepdam; -, e..- =.
As respects wOud-be President, Mr.. Seymour, he
is also at when he deals with hnance Ia hls ast
speeches, ne arragns congress Tor heepIns uoNh ne
income OF the south by an oppressive tax on cooh Dp
he will refer the census of 1850 and other public
records he VIII ma tat an average crop was Dut 5ocO
bales, and yielded more than $2OOOOO while the
crop Of the present year. rated at 2O0 bales yield
ing at current prices over $oOOJGO ID currency; or
s22j0OOOCO In gold values II he viii go step further
he viii hnd that all our southern crols Oh cotto sugar
ana tobacco The present year. reduced 70 g9d Vaues
$2GOO00O0O and exceed also the whole value OF
thOse crops before the II they less In bulk they
are less costly on that account 0oth 10 MAKE anu 20
move and the lack OF bulk Is chiefly due to the fact That
the negro women. since emancipation, have ceased to
follow the plOw barefoot, and have substituted the
needle aud the Of children for the hoe AS respects
taxes all the Cotton States together pay less income tax
than Massachusetts, The only Of consequence
they have paid the cotton tax repealed last spring
long before the repeal OF other taxes productions Tne
Confederacy taxed cotton 20 cents pound In gold In
stead OF conscatug property ar executing Tor tfeson
the United Government reduced te cotton TAX 81
per then reduced the residue so per cent more oy
taking the of paper then furnished engines ana cars
the cotton and then repealed tue TAX altogether
before they had repealed the tax Northern manufac
lures.
Next year. from January 70 January after bountes are
paid National expenses from interest Will f
below S2OOO0OoU below S200o00OO and gold
below 100 nation which IN three years and six months
has reduced debt least "A sixth, ITS interest more
than fourth i1s expenses more than onehalf and 80
FER back way specie that II has funded nearly
the whole OF it floating debt II upon the road To prosper
ity-nOt the road a. rum. NlAIOk