Buchanan County bulletin and guardian. (Independence, Iowa) 1866-1869, 1868-10-02

The Demoesasic misrepresentation Of the
actual financial condition Of the country
have been once more, and most eonclusively,
exposed By Mr. Edward Atkinson, Of Bos-
ton, in . speech q the Republican State
Cosvsntioa il Massachusetts,. His state.
ments are veEy clear, and are founded upon
data furnished BY he Hon. David A. Wells.
Mr.. Atkinson himself 10 known - sarsful
student Of al 6nsncial questions.
First, - 70 he actual debt in 1865. The
sam entered upon the books Of he Trsasury
on the 6st Of August Of that year, and pub.
lished - the whole debt was 42.756, ,689,.
ST.. But this was mot the real total. There
was further liability by which the Govern.
ment vas - much bound - il The bonds had
already been issued. This was for back pay,
for the pay Of the troops to the time of their
possible discharge, for their transportation,
ans for the settlement Of cootsaets. This
Liability brought the true debt ct that time to
33,7s7, ,733,3 ,329, Of which, since that date,
the Rspublicsa party has paid more thas
$500, ,000, 900.
The revenue, meanwhile, from April J.,
1865. 70 June 30, 1863, had bees fss9 ess-
toms e54s, 1875, ,slS, from the internal rsven.
ue 1sl2, ,33e. .276, miscellaneous, chiefly dir.
ect taxes, premian upon gold, and sales Of
military and naval stores and captured and
abaadoasd land, 4l7s,743,769, nakiag a.
together 1l,5A0,05s,6S3. How has this
sum, equal to three-ffths The amount of the
present debt, been spent?
In April, 1865, the military and naval
forces Of the Union were enormous and most
efficient. There were nearly . million Of
men in active service, and preparations for
vigorous war lad been made. Suddenly the
armed rebellion ended. The 0evssnmsnt
could not q once dismiss iis soldiers and
sailors, turn o6 the sick and disabled . shift
for themselves, and repudiate ID promise to
those who had contracted 70 build ships and
had them half finished, q those Who had
engaged to furnish food, clothing aad or.
dnanee. Yet the credit OF the Govseumsns
was very low. On the LIST Of April, 1855,
there we're overdue more than 1l7o, 900 900;
and large payments Of what we're strictly war
expenses wers carried over into the year af>
Ter the war. Within fifteenth months from
April l, 1866, the disburssuents Of the Ar
my and Navy Dspartasuts, we're 177AesS,.
eSl, and not less than 500, ,000, 900 Of this
sum was Tor expenses incurred and aeeounts
rendered from three to twelve months be.
lore III end Of hostilisies. The rest Of The
army, prize>money, commissary and quar-
tesmas.ers accounts, bountias, arrears, and
medical department. This was in every
sense : war expenditure; and = this might
be added pensions, equalization Of bounties,
Reimbursement Of States, and claims Of loy>
al men, etc., amounting to tl4S,ol9, ,40l.
And this, added 10 the sum upon the books
Of the Treasury, makes the maximum Of the
var debt >3,2S7, 733,32s. Ths net debt on
the 3eth Of jane, 1853, vas 42,48J, 900 ,0oe,
showing that We have alssady paid of 4s02,.
~, 3,S2s, being paynent in three pears Of
such peace - we have had Of . quarter Of
he whole var debt. But ~ have also paid
he interest on the war debt for that time TO
The amount Of 3l3s, ,ls4, ,Ss3 and these sums,
deducted from the revenue Of that time al>
ready msntion.d, and about whose disposi-
lion Mr.. Hosasio Seymour and HE frisnds
lre 90 anxious, leave the ordinary expenses
Il $2ss, ,e40, 81 l,or little lees than 92,000,>
poo . year. Those Of the last Democratic
fiscal year under James Buchanan, eompu-
ed in the .ane currency were $l07, ,S17, 400
-snd thas money was largely used 70 arm
md SOUP the rebel Stasss against the Gov.
ernment.
Mr.. Atkinson Justly claims that this ex-
position shows that the Republican party
have managed the finances with . success
hitherto unprecedented. His statements Of
The present situation are worthy the most |
IhoIghtful attention. TIE taxation has been
reduced ole7, ,000, ,O00, ,and when Mr. Psudle. |
lon says that they amount 10 $500, ,000, 900
} yaAr he says what ho might know to be |
nntrue. Moreover, taxation ct the present |
rais Of $3.50 Per head will pay our debt be-
Iors the end Of the year 1854 Immigration
. constant. The increase since the war
gives eoS,0O0,000 directly and $o00, ,0o0,. |
BOO indirectly TO our resources. Industry 10
railroads extending; agvicul- |
lurs improving; even 10 IL present ceadi-
lion the Southern Sta'es grow their own food
and during the last year : crop Of 5000, 900
bales Of cotton, tobacso enough to BE- one Of
he chief dependencies Of taxation, and rice
suough 70 supply the homo market for the
year. With GIANT and assured peace and
investment Of capital and quick.
ened production, the result may be easily
fOreseen.
The country is greatly indebted TO the
misrepresentation Of the Democratic leaders
for the lucid and conclusive statements Of
Ar. Atkinson. NJ. Wells, and Mr.. Fessen>
den. And there 10 not an honest man in
the land, however heavily pressed By the
taxation which the rebellion Of the Southern
Democratic party has imposed upon W I'll,
Who does mot ask the Democratic orators
who paint the horrors OF taxation, "And
how will your policy Of civil var tighten
a