Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1868-10-16
s69o,546.O76

And the expenditures on account of the
Navy Department from April l, 1865, till |
June 3d. 1866, are stated to have been $76,-
319 773;- whereby it is shown that the ex-
on account of the War and |
Navy Departments from 1st April. 1865,
till 30th June, 1866, amounted to $774,S56,-
Sol. sssT0 gat9lnJ aET
The following conclusion is then arrived
at: .rsa ad8 gytaslf, 6ra sfl--s. "a. "a -- r.,s /
lit is, therefore, not only legitimate, but
strictly in accordance with the facts, to as
sumo that this large expenditure of nearly |
SS00000,000 from April |, 1866, to June 30,
1866, was in every sense war expenditure,
and that it was a liability on the 1st of
August, 1865" &c. lfT,g lad !. ,srsar-. f. |
1t is surprising that any person, official |
or private citizen, should assume that the
total expenses ON account of the army and
navy from 1st July, 1866, till 1st July, 1866,
were 'aoar expenditures" chargeable to the
public debt as it existed on 1st August, |
1865 1t is not doubted that considerable |
amount of the expenditures charged on ac-
count of the War and Navy Departments |
from 1st April, 1866, till 1st July, 1866, was
on account of liabilities incurred before the
close of the war. Such liabilities are yet ia
existence. and will remain unsettled for
years. But the sum stated is en-
tirely o too large. 1t is preposter-
GUS to set up all the expenses of
part OF the war debt existing in August,
1865. .--.-5.i 100. ...,-.-- + 49,
In addition to these expenses, the ad-
dress claims still further deductions, as fol-
lows: -.-.a .-..,-.t .-.., m 81. ..,-.....-. +
''But the liabilities which existed at that
date were even more. There were the
debts which humanity and honor alike
have imposed upon the country, and which
Congress has recognized and paid. We
were then liable for pensions for the equal
ization of bounties, for further arrears of
pay of deceased soldiers, for the claims of
States, for the property of loyal men des-
troyed, for additional prize money, for the
reconstruction of the rebellious States, for
the care OF the freedmen, and the burial of
the dead" 4 .-,1 ,.la.at z e Hr4r'
THE amount of these liabilities, which
have been recognized and paid, and which
are not included in the previous statement,
Is as follows: 10 f 9
Pensions $50 S28 ,955
Bounties ..-......--.-..--....-... 493s2. .s5s
Prize money. 1872 .0ss
lures 10 $50, 1888
Claims of loyal meu................... I'LL. 800
kreedmen's Bureau. .........-......-... 5,6H.O00
reconstruction and national cemeter- $50 -
les, estimated d.-.............-.......- 3.OOO,OOO
sl45 .sla .4Ol
Add to this the expenses of the army i,
and navy for fifteen months, as previ--4 = -
ously stated. ....................... TIA ss5.s51
And we have total Of -. =. ss2o.178. .a52
And in this total we have the sum to ..l .=H
be added to the debt as it stood on
the books of the Treasury, April Is. =
leo5 ...--.-..---..-. 2.3b6,I5S 3z9
Making the aggregate of........ 80, ,as7 ,7ss .82s
Which was the actual maximum of the war
debt, being the expenses OF the war not
paid as they were incurred" -... ....-
Bear in mind that these figures are all
official, carefully prepared for me by the
Hon. David A.. Wells, in order that might
defend the credit of the United States
against all comers." - t'iii
WHAT IS OUR DEBT NOW? ID af.
At the end Of Of the fiscal year ending ooo
But in his amount there were included
I 5000 900 of bonds loaned to the Pa ..H
clhc railroad, and to ba repaid by
''-''''.'''--'''''-''.'-'-. Zo,ooo'ouO
Net debt. 81 ass. .000. 900
1--WE have paid off 1902 733 329n % -
"The present debt deducted from the
maximum debt in 1866 proves the actual
payment during three years ofquasi peace
of $500, 733 ,329, or about one-quarter of our
entire liability" "And now we be-
gin to see to what purpose the revenue OF
the last three years has been applied" ar
1 regret the necessity of Questioning a
statement esteemed so favorable to s'the
it of the United States will be best sub
served apprehend. in the promulgation
OF the .truth;" and if this gratifying
statement is not based on the actual facts,
it is OF vital Importance to the people as
well as the ''credit of the United States"
that its fallacies should be exposed. ~"
Observe, now, in this statement showing
a reduction of $500 733 329 in the last three
years, is an item of $414 196, ,377, being for
disbursements by the War Department
fir m April till June 30. 1866. What has
this to do with the question Of amount of
Indebtedness on the 1st of August, 1866
and reduction of the public debt made since
that tinaeP The disbursements having been
made, the indebtedness was Hquidated, so far
as the creditors of the Government were
concerned, when the payment was made.
The payment could not have been made
without the means. If the disbursements
were made in greenbacks they would ap-
pear in the Treasury statements of public
debt; in like manner, if in seven thirty
notes, compound interest notes, or certifi
Gates of Indebtedness, all of which are
included in the public debt statement.
AS an item OF expenditure in the aUdr,
it, of course, forms part; but it has no
other relation to the amount of Govern
ment Indebtedness ON the 1st of August,
1865. Having been expended in the period
named, it passes into the general aggregate
of expenditures for the fiscal year 1S64-5,
with the other expenditures for that year.
1t cannot, therefore, be deducted from the
expenditures on account of the army made
after 1st July, 1865, nor allowed as set off
from the collections made thereafter. The
debt statement of 1st August, 1865, en-
braced all liquidated debt, whether repre-
sented by bonds, compound-interest notes,
seven-thirty notes. certificates of indebt-
edness, or greeubacks at that time, and this
| 4 4, ,oxyip 1nl Hat 81
3Oth June, cannot be added to the debt of
Auqust, 1865. IT the disbursements were
made in currency, that is included; the
same if in seven-thirty notes, OF other
| forms of indebtedness used. This single
| item disposes of more than half the amount
of public debt claimed to have been paid of
during the last three years.
| With regard to the balance of this sum
claimed to have been applied to the pay
nent OF the public debt, embraced in army
I and navy expenditures during the last
three years, it is only necessary to say that
no authority or data whatever is presented
for any such showing. Ii is simply an as
sumption, supported by no evidence, and,
therefore, no means presented whereby to
test its accuracy. But even if we admit the
correctness of this assumption, the facts
would still show most extraordinary ex-
penses on account of these departments.
By reference to the official reports, it ap-
pears that the entire expenses on account
of said departments were as follows:
War Dept. year ending sOth June, 1855 sssa 1914
1858. .*123 246, ,64s
| Navy 90 1856. 1884, lie
| 1857. 3I,O24 Ill
1865. +25,77S, ,S62
| Total..........'.-.....- S6OO ,O47, ,S9s
+Estimated by Commissioner Wells.
II Deductions claimed; go.
Reu-aindeNof the S774. s65.651
II of the Is months dIsburse-
ments for army and navy,
claimed to be deducted.