Perrysburg journal. (Perrysburg, Wood Co., O. [Ohio]) 186?-1965, 1868-09-25

money, amounting to three fifths the pre-. .
ent amount of the public debt, been dis
posed ofg
This is question which the people have
a right to ask, and which propose TO an.
swer-to answer in the most simple and
straightforward manner, and in n manner
which can be verified by any man who
will take the pains to examine the financial
reports of the last three years issued bv
Hon. Hugh McCulloch, Secretary of the
| Treasury
Although active hostilities virtually end
ed with the surrender of the great rebel
armies, in April, 1865, the expenses of the
war did not, and of necessity could not.
cease at once. The military and naval
forces were at that time in state of the
greatest efficiency. In number they ap-
proximated to a million of men in active
service, and preparations had been made
for prosecuting the war at all points with
the greatest energy during the ensuing
season.
WAR EXPENSES AFTER THE WAR.
1t was obviously impossible for the Gov.
ernment to say to its 100000 of soldiers
and sailors, the moment the rebels laid
| down their arms "Go! we have no fur
ther use for you !" To the sick, wounded
and disabled, "Take care of yourselves ~
To the owners of half constructed vessels,
and to those who had contracted in good
faith to supply food, clothing and ord
nance, 1--WE repudiate our contracts and
refuse your supplies" No; all these
matters we're to be settled upon principles
of justice, honor and humanity; but, to
accomplish such a result, the Treasury
found itself in position of embarrassment
and danger which few either knew or ap-
preciated.
The credit of the Government had be.
come greatly impaired, the tive.twenty
loan was selling at less than par even in
currency, and all other means adopted for
raising money during the preceding year
had proved, or were then proving, com
parative failures. There were in April,
1865, accounts passed for payment, and
overdue, to the extent ofover $120,00O,0 900,
while all the available cash funds, coin,
and currency, which the Government
could then command, was less, all told,
than $l7,000,000.
OUR CREDIT LOW.
Treasury vouchers, issued for supplies
to the army and navy, were being sold
with difficulty by their holders at from ten
to twenty per cent. discount; the pay of
the army itself was and had for months
been largely in arrears Horatio Sey-
mOur and other rich Democrats were then
refusing, as they had always refused to
subscribe for or to hold the bonds of the
United States. In short the Treasury was
so near to absolute bankruptcy that the
old officials to whom, almost alone, these
facts were known, dreaded the collapse
which they feared might come at any day.
But fortunately the system of internal
revenue, the establishment of which had
been only too long delayed, was beginning
to prove effective, and the receipts from
this source and from the renewal of sub.
| scriptions to the 7-30 loan, tided the Treas.
ury over most critical period.
The inevitable result was, however, that
large payments, the liability for which
actually existed during the time, and which
were properly part and parcel of the ex-
| penses of active war, were carried over
into the year succeeding the war, and were
then largely paid from the enormous re-
ceipts OF revenue of that year.
BACK PAY OF TROOPS.
This liability for back pay-for the pay
of the troops to the date of their possible
discharge, for their transportation, and for
the settlement of contracts, formed part
of the debt of the United States on the
| 1st of April, or on the 1st of August, 1865,
|
bonds issued and entered upon the books
of the Treasury Department. These dis
bursements, under the direction of the
War Department, from the 1st of April,
1865, to the Both of June, 1866, period OF
only fifteen months, were as follows:
April to June 80, 1865. .$4l4, 1876, ,ST7
July to September 80 1865. ........ l65, ,36Y 2ai
october to December 81, 1865. ,..... 6S.122, ,541
January to June 80, 1866 6........... 60,s57, ,92S
Total, fifteen months. ............ $6Os, SD, ,O7s
During the same period the expendi
lures made under the direction of the
Navy Department were as follows:
April /, 1885, to Dec 81, 1865. $50 S57, ,ss!
January 1, 1866, to June 80, 1S66...... T.46l, ,ss
Total, fifteen months. ....-......... SO, "a;
1t thus appears that the disbursement.
made under the direction of the Army
and Navy Departments during the fifteer
months Immediately succeeding April 1
1865, the month in which the rebel armies
surrendered, amounted to $774, ,S65,951.
WE OWED THIS IN APRIL, 1866.
It is estimated that very large proper
tion of this sum, not less than 100000,
600, was on account of expenses incurred
and accounts rendered from three Il
twelve months prior to the termination o
active hostilities, and which had been al
lowed by the Treasury to remain unliqui
dated, simply by reason of great financia
embarrassments.
The remainder is made up mainly of tn
following items
Pay Of the army fifteen months $206, 900 OF
Commissary and Quartermaster's De-
, partment for subsistence and trans
pOrtatiOn, about. ........... ......... U1.OO0. .0C
Medical and Hospital Department.; 17,S37, ,OC
AHeAr OF pay OF discharged or deceased -
psolaiers'' ''''''''''''''''''' '.'' tt66'iS9T
Prize money paid by Navy Department, 3,s75,O
1t is therefore, not only legitimate, bu
strictly in accordance with the facts &
} assume that this large expenditure of nearl
$500, 100000 from April /, 1865, to Jun
80, 1866 was in every sense war eXpend
iture, and that it was liability on the Is
!, of August, 1866, the date on which ou
debt appeared 10 be at its maximum by th
Treasury books, as much as if Z 80 note
! or 20 bonds had been issued and entere
upon the ledger and this expenditure is I
, be measured and estimated by the sam
! standards as those by which the expend
lures of the active war are adjudged I
have been necessary and unavoidable o
the ore hand, or unnecessary and ineXped
! ent on the other.
THIS is NOT ALL,
I But the liability which existed at tha
n ualS WdsShOu luOlC. i mere were luc ucDl
q which humanity and honor alike have in
; posed upon the country, and which Coz
5 gress has recognized and paid. We wer
O then liable for pensions, for the equalizi
/ tion of bounties, for further arrears of pa
4 of deceased soldiers, for the claims {
States, for the properly of loyal men d.
s stToyed, for additional prize money, for th
reconstruction of the rebellious States, fc
0 the care of the freedmen, and for the buriI
!, of the dead.
/. The amount of these liabilities whic
have been recognized and paid, and whio
are not included in the previous statemen
1 Is as follows:
1 | Pensions ................ SG2, SOS, ,a
Bounties. ACKNOWLEDGEMENTS. 4g 2s2 s
frriEe;money .,....,..,...........,, 1870
ttures. Observation-Disclosures. 12,ss0,Ii
n Claims OF loyal men 1I,1ii'a
treedmen's Bureau q. b6iiO n
| H.