The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1868-11-03
Letter from President johnson.
The National Expenditure and the Public Debt.
EXECUTIVE MANSION, Washington, D. c.,
October "a. 1868

u
Ia October "a, 1868. } X
Dear Sir: In recent conversation upon the "a
subject of the finances, you expressed desire 20
be furnished with some of the leading facts then
mentioned, touching the national expenditures i
and the public debt. now comply with your
REQUEST reoretting, however, that otherand more
pressing matters have prevented me from more
clearly illustrating the absolute necessity tor I'M
mediate reform in the financial operations OF the
government --~
In 1776 our national independence was pro-
claimed, and after an exhaustive bloody struggle
Of seven years was, in 1888, acknowledged by
the parent government. In 1877 the federal
constitution was framed, and in 1888 the gov
eminent went into operation under its PROVISIONS
burdened with debt of seventy five millions OF
dollars cleared during the war of the revolution
Immediately upon the organization of Congress,
| measures we're devised for the payment OF the
| national obligations and the restoration OF the
| public credit, and when in 1872, war was de-
| clared against Great Britain, the debt had al I
ready been reduced to forty five millions OF dol
lars. It was then largely increased by the three
years struggle that 'ensaed between the two
nations until in 1916, it had reached the sum
of one hundred and twenty-seven millions p .-
Peace again established, provision was made
for the earliest practicable liquidation OF this IN
debtedness. in order that it might not become
permanent incumbrance upon the people I'm
der wise and economical legislation the entire
amount was paid in period OF twenty years and
the extingushment OF the national debt TILED the
land with rejoicing, and was one OF the great
events of President ,Jacksons administration
Even after it's payment a large fund remained in
the treasury, which, for safe keeping was deposl-
ted with the several States, On condition that 1t
should be returned when required by the public
, wants 4. t..sr.-..E ..s-. ssssE = !: 8. si.
In 1849, the year after the termination OF an
expensive war with Mexico, we found ourselves
involved in debt of sixty-four millions OF dol
e lars, and this was the amount owed by the gov
erncnt in 1860 just prior to the outbreak OF the
: rebellion. $3.50. IT,. f
j In the spring of 1861 the war of the rebellion
!. commenced Each year Of its continuance made
Il an enormous addition to the debt: 50 that when,
n in the spring Of 1865, the nation successfully
S emerged from the dreadful conflict, the oblga-
II tons of the government had reached the vast
L amount of twenty-six hundred niilEens They
+ had net vet however attained their h 5hest point
!. for when the army and navy had been paid, the
9 volunteer forces disbanded and the navy largely
II reduced. it was found in February, 1866, that
% our indebtedness exceeded twenty eight hundred
of millions fdollars. 49, ...s..rt s'.~E rod
&c Having thus referred to the indebtedness OF
$ the government at various periods Gifts existence
in it may he well to call attention to brief state
l. n,ent of facts connected with its expenditures
+, From the fourth day of March, 1879, to the
h thirtieth of June, 1861, the entire public ex
of penditurcs were seventeen hundred millions 0
n dollars. Although covering period OF seventy
10 two years, this amount seems small when com
ct pared with the expenses of the government du
is ring the recent war of four years duration; to
&C. from the first of July, 1861. to the thirteth o
to June, 1865, they reached the enormous aggre
he cate OF thirty-tlree hundred millions CT dollars
C. An investigation into the disbursements sine
nd the first day Of July 1865, further shows tina
to by adding to the expenditures OF the last tire
wears the estimated cost Of administering the gov
ernnent for the year ending the thirteth OF unf
mt 1869. we obtain the sum Of sixteen hundred mi
ms lions of dollars as the amount required 1or tn
four years immediately following the cessation {
hostilites--or nearly as much as was expende
during the seventy-two years that preceded I'll
Of war 49, ... ....- ....-
I'd 1t will be seen from this brief review thi
~, from 1871 to 1861 our public debt was at Il
time more than one hundred and twerty-seve
:, million of dollars. while subsequently four yea
,l' of war expanded it to twentyeight hundred M
Oh lion. 1t will also be perceived that while, pr
' -, to 1861 the largest annual disbursement w
ue not quite seventy -four million for the year 1o5
u" the expenditures during the lest three years
oJ peace have successfully been five hundred al
'nu lion and three hundreds and ninety three million
'i'' three hundred aud seventy-two million being t
"' amount which it is estimated VIII be nccessa
'ou for the year ending the seth Of j une next.
esa In making this comparison, we should rene
! to Der that during the long interval between ~
ro,, ard 1861 the government was frequently
on, CURED to make expenditures OF an eXtraordina
ord character. Large sums were paid to Indians
roc annuites aud for the purchase OF their Ian
;s and expensive wars were waeed against power
ro.+ tribes Louisiana was acquired from France
49,, q cost Of 81 ,O00 coo; Florida, in consderat
w. Of five million was ceded to Us by Spain; {;
n;tv fornia became part Of our possessions On p
I uient to Mexico of fifteen million while for
and million our government secured from Texas
,ont territory of New Mexico. During these peri'
tho of our history we were also engaged in wars W
Great Britain and Nlexico-the first wa:
against cne Of the most powerful nations OF
world-the other made additionally expensive
the prosecution Of military operations IN
per- enemy territory. -. -.
nued The startling facts thus conc!soly stated, S
rlty, gcsts an inquiry as to the cause OF this lmme
ton, increase in the expenditures and indebtedness
ex- the country. During the civil war the N;
Il, IN tenance of the federal government was the
olph, great purpose that animated our people,
other that economy which should always charaetc
-..., our financial operations was overlooked IN
fred great effort of the nation to preserve Hs e
and tence Many abuses, which had their origir
white the war, continued to exist long after 1t had
ntcn, brought to triumphant conclusion. ahu
1tless people, having become accustomed to "a la
: Il, faro obi pc