New-York tribune., 1868-09-10


from sources other than the close OF the
WHAT BECOMES THE MONEY!
And now come to the main question In what man
uer has this sum of money amounting 10 thrccdfths the
present amount of the public debt been disposed OFT
This is question which the people have right 20 ask,
and which propose 10 answer-to answer IN the most
simple aud straightforward manner, and in manner
which can he verified by any who will take the pains
10 examine the finance reports Of the last three years
issued by the Hon. Hugh McCuoch. Secretary OF the
Althongh active hostllIties virtually ended with the
surrender Of the great Rebel armies April 1865 the eX-
pens OF the war did not aud Of necessity could not cease
a once The mtarJ and naval forces were at that time
I'm state Of the greatest efficiency In number they APP
prorimatod TO million OF active service. and pre-
paratOns had been made for prosecuting the at all
points with the greatest during the ensuing season
WAR EXPENSES AFTER THE WAR.
II was obviously impossible for the Government 70 say
It's million OF soldiers and sailors the moment the Reb
els laid down their armsG0 We have no further use Tor
you 10 the sick, wounded and disabed-take care OF
yourseyes TO the owners OF half constructed vessels,
and those who had contracted In good faith to supply
and refuse your suppes No all these matters were W
be settled upon principles OF Justice honor ana humNl,
itself IN position of embarrassment aud danger whi'h
few either knew or appreciated.
The credit OF the Government had become greatly IN
paired the l10 loan seug at less than par even 10
currency and all other means adopted for raising m0neT
proving comparative failures There were In April 1855,
accounts passed for payment and overdue to the extent
Of sl2OOOOOOO while all the available cash funds.
coin aud currency which the Government could then
command was less. all told than si7ooooco.
OUR CREDIT Low,
Treasury vouchers issued for supplies 10 the ind
navy being sold with difficulty by their holders at
from 10 10 20 per cent discount the pay Of the army e
and lad Tor months been largey'in arrears. Hpa
ITO Seymour and other rich Democrats then rehs
ing they had always refused 10 subscribe for o to
hold the bonds OF the United States In short the Tas
ury was 10 absolute bankruptcy that the OdDn
clals, TO whom almost alone these facts knoyn,
dreaded the collapse which they feared might cone az
any day.
But fortunately the system OF internal the
establishment OF which had been only long deaied,
beginning oproye effective, and the receipts rom
this and from the renewal OF subscriptions tOthe
$40 loan ded the Treasury over most critical pe1Od.
The inevitable result was however. that large pay
ments the liability for wch actually existed during the
time, aud which we're properly part aud parcel OF the ex
penses Of active war; carried into the year
succeeding TIE aud were then largely paid from the
enormous receipts Of revenue Of that year.
BACK PAY OF TROOPS.
This liability FOR back pay, for the pay OF the troops 10
aud for the settlement Of contracts formed part Of
the debt OF the United States the t OF April on the
Isl Of August 1906, much II 10 had all been settled
and the bOud sued and entered upon Tho books OF tho
Treasury Department. These Disbursements under the
direction of The War Department the lst OF April,
1885, to the 3Oth Of June, SC period of only Is months
were as follows:
Aprl June 1865 f44 1887
JuY 10 September ~, o2.. .s............ IboGStti
October 10 December 81, l8J5................ 68l22
JAnnary 1906 10 June 90 lsto.............. SOs5sa
Total Is months. S6g 56Oa
During the same period the expenditures made under
tho direction OF the Navy DeUartmeut IA follows