The Conservative. (M'connelsville, Ohio) 1866-1871, 1868-07-23

During tho thrce years, from Ju.
ly 1, 1865, to July 1, 1868, tho OK.
ponditure Of tho Federal Govern
ment, independent of interest on
the publcidebt, was oight hundred
and twenty millions of dollars
These were years of peace. The
army and navy Of tho war had
boon reduced; their back-pay had
already been, ,madc up to them; i'm
mense sales Of Government proper.
ty, consequent upon the close of the
war, had been made, and yet in
these three years tho Republican
administration expended eight hun
dred and twenty millions Of dollars
two hundred and seventy millions
OF dollars a year.
The whole expense of the Gov
crnment of tic United States for
four years preceding tho war was
two hundred and fifty.six millions
OF dollars. These eight hundred
and twenty millions do not include
the interest upor tho public debt
II this be added, the expenditure
of each one Of these three years will
amount TO ut luast tour hundred
and thirty millions Of dollars. The
taxation Of the year 1866 amounted
to FIVE hundred and ninety millions
Of dollars, The taxation Of tho last
year Of Mr.. Buchanan's administra-
tlon amounted to eighty millions of
dollars. The expenses Of the War
Department during the whole Of
Mr.. Folks administration. lnclud,
ing the Mexican war, wore 500 0.540.-
600; the expenses Uf the War De-
par;ment for 1868 were sl2S.S50.
600. In one year Of Republican nd.
ministratiou, in time of peace. the
War Department spent 10000 900
more than four years Democratic
administration did in time fwar.
Applause. The navy Department
for four years. before the war. cost
S62,9l0,000 TIen our commerce
was prosperous, our ships salled on
evory sea and landed IN every har =
Dor. To-day we have no commerce,
q foreign flag covers all the trade to
our sea-ports. The ship builders
OF Maine are starving for want of
occupation, and yet the estimates
for the navy. for the current four
years, is Sl17, 100000.
| have said to you that the tax
alton OF 1866 amounted to $500, 900. =
900. am told that this yoar il
will be less. Tue securities of the
Government are not subject to tax.
alton. Tho capital invested in the
securities reaches S2,500,0OO, ,OOO.- -
All the property, roal and personal,
Of overy kind, az derived from tho
official reports Of 1860, amounted 10
$4,000, 100000, Thus YOU see thai
near one-sixth of all the capital in
the country is exempt from taxa
ton.
But why Is it that tho amount ro-
allzod in 1866? Tho rate of taxa-
tion is substantially the same. 1t
Is true that this Republican Con.
gress has diminished, ms n whole.
the taxes on thN manufacturos Of
New England it is truo they will
diminish somewha' the taxes upon
whisky, but the amount collected
from either OF those sources would
not materially change the aggre.
gate. Why then, ! ask agam, will
the amount realized from the taxes
this year be less than in 1866? The
hurthen upon those who do pay is
just as "a cat as 1t was then. Tho
OF making !he payment IS
even greater than ii was then.
4 cry of distress whom the dav
for the payment OF taxes cones
around, arises from every part of
the country; and it Is because the
business of The country is stagnant
II is bocGuse the workshops are IDLE;
it is because labor finds no uccupa-
ton: it is because the produce of tho
farmer remains on his hands, in
stead OF going to the market; ii Is
because your stores are overloaded
with abundant stocks; il is because
energy and enterprise are parolyz,
ed, and capital remains inactive.
And why is all this ? Because q
Republican administration insists
III curtalIlng the currency, disturb
ing all values. checking al enter
prise, throwing out Of employment
all labor. The tradesman ls caught
with alarge stock on declining prl-
ces. The farmer fears the fall
which may overtake him before his
wheat reaches the market. The
manufacturer fears that the prico OF
hue raw material to-day will be
greater than tho prlce Of his man-
ufaeturod goods TO morrow, and the
capitalist will not take his money
out of Government bonds and invest
it IN houses, or lands and stocks,
lest the rents and dividends will
not yield him simple interest. In
the meant me. labor is without em-
ployment. and poverty stalks
through homes whore comfort has
always been before. [Aprlause. ]
In the meantime this work Of con-
traction is steadily pushed Look
at every monthly report of the Sec
rotary of the Treasury, you will find
that every month the debt that
bears interest in gold Is increased;
you will find that every dollar
which bears 40 interest at all, or
which bears interest in currency, is
converted as rapidly as possible IN
TO the bonds which pay lnterest NJ