The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-09-29
The Middle About the Finances-Mr.
Delmar's Statement.

The MIDDLE About the Finances-Mr.
Delmar's Statement.
Some people have an idea that figures do
not deceive; but they will find themselves
mistaken if they look at those of the financial
doctors who pretend to represent the condition
of the Treasury and national finances. We
have had the statements of Mr. Wells, of the
Treasury Department, and of Mr.. Atkinson, Of
Massachusetts,, a volunteer exponent of our
financial condition in behalf Of the radicals,
and now we have the statement of Mr.. Del
mar Director Of the Bureau of Statistics.
These statements differ widely and leave the
mind bewildered with matter that ought to
be as plain as the nose on ones face They
have been manufactured for political effect and
to throw dust in the eyes of the people. We
have heretofore exposed the garbled misrep-
reservations of both Mr.. Wells and of that stu
pendous inancier, Mr.. Atkinson but the cop
perhead press has exaggerated the errors of
these gentlemen for partisan purposes. The
radical organs, on the other hand, are furious
at Mr.. Delmar's exposition, and, while care
fully abstaining from any attempt to answer it,
they endeavor to weaken the effect by satire,
slang and personal abuse.
Now, whatever little errors Mr.. Delmar may
have fallen into in his details, or whatever may
be his feelings with regard to our radical Con-
gress and the radical party, his statement on
the whole is correct and far more reliable than
those of Mr.. Wells and Mr.. Atkinson. He
shows by figures what we have repeatedly
said-that the income of the government is fall
ing off greatly while the expenditures are in
creasing, and that the cash in the Treasury is
rapidly wasting away, threatening to bring it
in the course of few months to bankrupt
condition. Nor do we think Mr. Delnar is far
from the truth in his estimate of deficiency of
hundred and fifty-four millions of dollars at
the end Of the year, June 80, 1869. His ex-
hibit of the finances was published in the
HERALD yesterday. 1t may be seen there how
he reaches this result. He takes facts for
the foundation of his arguments and his conclu
sions, in the main, are incontrovertible. What
deplorable state Of things for the people of
this country to contemplate! Enormously
taxed as we are, there is likely to be one hun
dred and fifty-four millions of deficiency added
to the debt at the end of the present fiscal
year. Such is the consequence of incompetent
and radical legislation and of the mismanage-
ment of the finances by an incapable Secretary
of the Treasury. The expenditure for the War
Department and for carrying out the recon-
struction measures of Congress is stupendous,
and there is the greatest extravaganza in
everything. At the same time the taxes that
have been taken off in favor of a few manufac-
turers and the enormous losses by frauds in
the revenue, arising from the deadlock be-
tween and disorganization of the executive
departments of the government, must leave
the Treasury bankrupt unless new taxes be
imposed or loan be made In any case we
do not see what is to prevent the Treasury
being drained of its cash and the debt increased
What the country wants now is another and
ADLER set of men in Congress than those who
have brought us to this condition. That is the
only hope or remedy we see, and it remains
with the people to determine at the approach
ing Congressional elections whether this remedy
shall be applied or we are to 60 on in the same
disastrous course.