The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1868-12-16

- sne-.to.sS
:people towards their political institutions.
Without proper care, the small balance,
which it is. estimated will remain in the
Treasnrysat thefpresent fiscal year. will
not. be realized, and additional millions
to a list which is. now ennmera.
ted 6y billions. It isashownby the4able
and comprehensive report; or the Ssrreta-
ry OF. the Treas Try, that the recei pts for
The fiscal lsyear, ending, JnneSO, 1868, were.
s405, ,638, ,0S3, and THAI tho expenditures
for tho same. period, were S311 ,34Q,2Si--
leaving inethe Treasury a surplus Of SzS.-
297,79S. is estilm1saatsed that the receipts
during the present fiscal year, ending,
Jupe: 81, s1869,eWilI.ube SS4l ,392,Ses,
aid the expenditures 1886, ,l52,47o show.
ing a small balance Of ;S5;240 1893 in
favor. r.of5the Government. For the fiscal
year ending. Juno 80, 1S70,Tit is estinla:.
ted .tlat-the receipts will amount to s327,7;
100000, and the expenditures TO, sSO3:.
;000D00- 0-feaving an estimated surplus OF
S24OO0,009: t. becomes proper in this
connection s'to.-make2 a. brief reference
to- our public:indebtedness, which has ace.
ioumnlated with such alarming rApidityS
ard assumed such colossal proportions.
In 1889, when the eGovernment commeD-i
'ced; operations .9bde the: Rsderak gGonsti-
tuition, twas bnrdened with! an indebt-
edness ,ofS75, ,000, 900, created during the
war of. the revolution, This amount had
been reduced to $4,000, 900, when, in
1872, war was:declared. atgdi nst Great
Britain. The three years struggle that
followed, largely increased the na'iohal,
obligations, and:in 1916, they had at.
tanned the sum .of;. iSl27 ,00G;000. Wise.
and economical legislation, however; ena.l
-bled. the. s.Government:.tto pay tho entire.
amount within a.period of twenty years,
andzthe lextinguishmont <of tho: national
debt, filed the land with rejoicing, and
was;ope Of the great eventssof President
fJacllson'ss1d ADMINISTRATION. After its re-
demption, "a large:tuhd remained in the
Treasury which was deposited: ;for.isa
Keeping 8ilh, the several States, :on con
dition .:thatiit should be returned when
srrcquirelF by tire public wants, In lS49,'
the. yeaE;after thetermination of an eX:
pehsiva war with Mexico, VIC found our
Selves, s,involved in a debt Of s64,00J.00Q.
and this swas,the amount swed5by the,
Government inF1 sooQ-just prior-fto the,
:ohlbreak Of tie rebellion: In:the spring
Of lS6l, our civil war commenced. Each:
YEAR OF: its continuance. made; an. cnor-
nous .additiohtothe debt, and whoa, in
.tLe;spring Of 1866, the nation successfully
en- ergcd from tile conflict; the obligations
of The: GoYernmcn had reached .theE. i'm
irne6sez sum- of s., sra, ,992, 900. iThe;Sec-
retary Of the spreasulya shosss that, the
.1et day of NoHem Der. 1867, this amount
had been reduced to s2,49l ,504 ,450, but at
tho same fimc, his report ;.exhibts: an in.
crease during the past year of SS5 ,623, lO2,
for the debt Of sthe>lstrday of November
.last:is:statoa to have been s., ,527 ,l29, ,SS52.
tits, estllnatcd blythe Secretary, that ths
returns for the past month VIII. add to
our. liabilities tho further, sumsot $ll 900,
|O3o--making, q tota1s ,incrcase. during
thirteen months:of s46;600, ,000.N
HI my message to Congress of Decem
6or!4, lS65;Eit was snggested.thatapolicy.
should be devised which, without being
Oppressive to the people, would at once
begin, to effect a Reduction. of t,e dobi.
and it persisted sin, diseharge5yit fully
within a definite number OF. years, Tie
Secretary 81 Tie Treasury forcibly re-
eommonds .legisTationl, of this character,
and justly urges that the, longer tits de-
.ferr,ed, The more; dificllt must become It's
We .shonld dsfol low the
wise precedcnts esta 5Iished in 1880 ahd
1916 and without further delay; make
provision for the pay ment of our sobliga-
stions at, early a period as may be- prac.
tcable..:-T lie fruits of theirlabors shoaId
DO encouraged by: our citizens, ,earathcr
Chan. used to build up and sustain monied
monopo!ies ii our own and other lands.
Our foreign dobt is..already computed
by The Secretary of tho Treasury at
$3.50, 100000. Citizens of foreign coun.
tries receive interest upon large portion
Of fsoursecurities, md American staX1pay-
.ers are made to contribute large sums for
Istheir support. The idea that such 4 dobt
Is to beaomo permanent, should be atiail
as involving taxationtoo
heavy to be borne, and payment once in
every sixteen years, AT the present rate
Of hi interest. of an an,oaat equal g tho
original SUM-; Fhisc vast-dcbt, if permit
ted to become permanent, and increasing,
must eventually be gathered into tic
hands Of q few, and enable. them to exert
Il dapgcriso5utis and controlling power in the
atfairsof the Governments. The borrow
ers would become servants to- the lend
ers-the lenders the masters of the
people. We Eow pride ourselves nHon
hayin ,given;freodom to4 900, 900 of5thc
colo5red rae race. +. twill then be our shame
that 4O,OOO,QoO of people, by their own
tolsration Of ausnrpation and protiigacy,
have suffered themselves to become en-
slaved, aud merely exchanged slave
owners tor. new. askmastcrs, in the shape
| Of .hondholders and tax gathercrS. Be-