The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1868-09-25
-.[EFem tie Ohio State Journal-I
DECREASE OF. THE NATIONAL
DERT

1 DE6I.
/ In Edward Atkinson's able and adj
mirable resume OF the financial histo-
ry of our Government for the last
three years, which we published yes
terday, we desire to call attention to
two points,: 80. i1 .la..l.-. a-l
What. was the actual. amount of
the national debt incurred in conse-
iquence or The Davis rebellion? This
Is the Important fact first.to know.
It's evident that if q man is build
ing house and has employed work.
men by the job or month, and has Or
dered and made use of materials for
It's construction, that the cost of the
house is not the actual amount paid
out on the day of its completion, IN
less all the bills for work done and
for materials furnished have been
presented for payment The house
may be finished, and yet month or
three months wages may be due the
workmen, and the amount due for
lumber and brick and glass may be
rot even known. This illustration is
so simple that no one need be told
what the cost of the house wonld be
in such case.
Now what was the cost ofthe slave
holders rebellion? --- ---------i '-
Is it estimated by the cash actually
paid out, and the claims duly present
ed and audited on the day that John
sons army surrendered, or must we
take into account in addition to this
i. the. liabilities incurred by the Gov
this time, in consequence OF this re-
bellion ? Unliquidated claims, claims
for supplies and materials furnished,
not yet presented, compensation to a
vast army in the shape of monthly
wages, pensions, bounties, &c., are
just IS much part of the cost of put
ting down the rebellion as the
amount paid for gunpowder and can.
non balls used at Gettysburg.
The apparent debt as it stood up
on the books of the Treasury Depart
ment April 1, 1865, that is, the debt
already yliquidated or audited Tor pay
ment, was 50, ,366. .955,077. Now to
get at the actual debt or cost of the
rebellion we must add to this, dis
bursements made under the direction
of the War and Navy Departments
during the months succeeding April
l, 1868, on account Of tie REBELLION.
Those disbursements amounted to
STA, 1855 S5, They were for pay of
army fifteen mQpths-- s2lR seil liA1s-.-
partment, 60 inIllions medical and
hospital department, IL millions,
and for other similar purposes.
1t is therefore not only legitimate,
but strictly in accordance with the
facts, to assume that this large ex
penditurc of nearly eight hundred
millions OF dollars from April 1,
1865 to June 80, 1866, was in every
sense . war expenditure, and that it
was liability on the lst of August,
1865, the date on which our debt ap-
peard to he at its maximum by the
Treasury books, rs much as if 7 $40
notes or ) 20 bonds has been issued
and entered upon the ledger; and
this expenditure is TO be measured
and estimated by the same standards
as those by which the expenditures
of the active war are adjudged to
have been necessary and unavoidable
on tie one hand, or unnecessary and
on the other.
In addition to this, then, must be
AFT hn
pensions, bOun:ies, &c., amounting
TO SI45,9I2,401, which liabilities
have been recognized and paid. Add
ing these two classes of expendi-
lures together, and we have the to-
tai amount of the war debt which did
not appear on the books of the Treas
urv at the close OF the war, SS20.75S,-
l252. This sum added to the amount
OF the debt audited for payment
April /, 1868, before stated, makes
| the aggregate cost Of the Davis re-
beliion, So, ,2S 2, 733, 329.
| Subtract from this the debt of June
80, 1868, and we find that the war
debt has been reduced $500 ,733. .329
AN actual payment OF more than
one fourth the entire amount IN three
years
j 1t is not strange that the party
which is not satisfied with this pro-
gress, should favor wlping out the
debt in one year by the greenback
system OF reputation.
The other point to which the at
tention of every voter should be
called is this, that Republican Ad-
ministraiion. hampered hy-a- hostile
Executive, has been cheaper by lot
millions per annum than the Admin
istration of james Buchanan. 1t IS
now about time that the stuff and
nonsense uttered about Republican
extravaganza should cease.