The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-09-11

appear a little larger. The premiums on sales of
gold having been included in the miscellaneous
receipts, the only addition we have to make is
TO add to the war interest the premium on
about two-thirds of the amount paid in gold at
an average rate of forty per cent, say $ll2, ,000,
900. Oul statement will then stand:-
Income 81 wears :. sl,54O,O5s,5 ,5s3
tere5t paid $4,000, 900
Income in currency l,662, 1858, ,5S3
War debt paid $500, ,73S,329
Premium on gold il2,oO0,OOo 1853. .2ls, ,212
Ordinary expenses $295, SAC, 81
or little less than $92, ,000,000 a
The expenses of the last fiscal
year under the Democratic ad-
minstration of James Buchanan
amounted to :. :. S76,84l, 900
equal to a currency equivalent at
tue average of l40 for gold, the
rate TAT which our expenditures
should be taken if our currency
expenses be reduced to gold, to $l07, ,577, 400
THE GOVERNMENT CHEAPER THAN BUCHANAN's.
1t therefore appears that the expenses of the
Government under the direction of Republican
Congress, hampered bya hostile Executive, have
been at the rate of Sl5,500,O00 less per annum
than the expenses under the last year of Demo-
cratic rule. We claim that they might fairly
have exceeded any honest expenditure in 1860,
for we have five or six millions more population
and vast extent of new territory to guard and
cluded all the expenses of the War and Navy
departments for fifteen months after April 1865,
as war expenses and that there would have
been moderate expenditure under any circum
stances, we will admit it; but the expenses of
the Indian war, estimated at $50, ,000, 900 to
$40 900, and the amount expended on river
and harbo1 improvements ($l0, 900, OCO) for which
we have made no allowance, but have included
as ordinary expenses would fully Offset this
claim. 1t would therefore appear that when
rartisans charge the Republican CONGRESS with
extravaganza they charge the last Democratic
admins tration with far greater.
WHERE BUcHANAN's MONEY WENT,
But we are fully prepared to admit their
charge OF excessive expenditure against botn
administrations. The expenditure made under
James Buchanan, OF S77, ,841 900 in gold, amount
ing to present currency equivalent to Sl07
577 400, was largely used to arm and eoulp the
rebel States in order that they might wage war
against the Government. The extraVagant
expenditure of the last three years has been
made III consequence of the appointment to and
maintenance in office of corrupt officials by
Andrew Johnson. We will now close this
branch OF our subject but let US first recapitu.
late our figures,
TABULAR STATEMENT.
We have proved that the ordinary expenses of
the Government for three years and quarter,
including the suppression OF indian ho5ti,ites,
and nearly Sl0,000,000 for river and harbor
improvements have been at less rates than
during the last fiscal year prior to the war.
We have proved that to the alleged
maximum debt, August l, 1865 So, ,757, ,6S9, ,57l
There must be added a portion of
the liability OF $920, ,77S,252,
which existed April l, and of
which there was still unsettled
on the 1st August the sum Of $50, ,o43, 1853
And we then have the actual maxi
mum debt ss,2S7, ,7S3, ,s2s
IN WHAT FORM WAS THIS DEBT?
lst. Due aoathin three gears.
1st-The liability not then entered
upon the books was all recog,
nized and settled within three
years, and most of it was due and
paid within one year :. $3.50, 1853
2d-The debt upon the books was
mostly due at short date, and
consisted of the following obli-
Overdue, on which interest had
ceased :. 1908. O2O
$40 Treasury notes due in 1857 ~
Certifestes of indebtedness due ''O'OOO'OO'
Temporary loan on 10 days: 0''O'''O0O
notice, and per cent. lO514s,ns
One and two year notes at 5per
cent, -: 33,954, ,2SO
suspended requlsitlons 2lll,000
war, and due in 1867 and 1868 Is 323, 592
Total debt due within years, 81, ,s25. 2OI 479
Due Debton Demand.
Notes known as Legal-tender notes
or "ereenbacks" which the Re-
publican party now recognizes
as a debt due on demand and has
paid in part or proposes 10 pay
or TO fund in interest bearing
bonds $433, ,l6O, $50
Fractional currency 26'84l,742
--
$3.50, sos, ,3ll
Less cash in Treasury sS'2lS,O55 1871, 2s7 256
Funded Debt,
Old five per cents, due
in 1871 and 1874 :, $27O22, 900
per cent l0-40 bonds
due in 1904 :. 172,77O,1OO
per cent. bonds due
in 1882 and 1884 COG, ,569, 900
Bonds issued TO the
Pacific railroad, due
1896 1.25S,COO
------ 1901, ,244, 600
-----
Maximum debt $3,2s7, 73S, ,329
FORM OF THB DEBT IMPROVED,
If we analyze the form of our debt as 1t