Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1868-09-08

Add for all expenditures s60-6l-..... s457s S34 AZ
Total Of expenditures IS los $50 2l3. 53
This shows q slight excess over
the total of receipts as stated abo, g,
but, as we have remarked, the ex>
clusion OF all transaction concerning
the debt from both sides of the ac>
count, and the omission of the res
pective balances and deficits would
reconcile the difference.
STATEMENT OF THE PUBLIC DEBT.
July cos e4,7597oaOs Oct 81 65 So sos $40 4a7 IS
July o. 81 I'll 81 90 Oct 81 90 1851 42s i9l 90
July e9 COS 5sS Isl 81 June 80 90. ols.ss
July l, IS .2,osl ,7a4, 1879
Deducting from the last report, the
sum of $32, 100000 for bonds issued
to the Pacific Railway Companies
which are to be provided for, prin>
cipal and interest, by the companies,
but, being guaranteed by the Gov
ernment, are noted in the report as
part Of our debt we have the amount
OF debt actually due on the LIST of Au-
gust, 1868, to be 81, 491 ,324, 4S0, 81, an
actual reduction Of the gross debt
from its highest point in October,
1865, of S3l7, 224, 9559 SO. or more than
one hundred millions per annum.-
The interest account also begins to
run down, in proportion as the prin-
cipal is paid off The country saves
fifteen millions Of dollars in that way
this year.
The total expenditures for the cur
rent year, including the extraordinary
payments for interest, pensions, boun
ties, &c, cannot exceed $19S, 100000,
and is appropriated accordingly. The
receipts on the other hand, are esti>
mated by the Secretary at 1881 900, !,
600, Of which the customs and inter
nal revenue furnish S350,000, 000.-
Said the Secretary, in December last:
"These estimates are made on the
general average Of the receipts and
expenditures for the past nine months.
The Secretary is hopeful, however,
that Congress win take measures to
reduce expenditures in all branches
Of the service, so that a steady re-
duction of the debt may be continu-
cd.
Congress did take such measures,
cutting down the expenditures from
his estimate of 1872, 900, 900 to $685.
500, 600 appropriated for. IF the re
ceipts hold up to this estimate, as
they are likely to do, a surplus of
$182, 500, 900 will be applicable to the
reduction of the debt. And in this
way the debt is finally paid off.
In 1915, at the close of our second
war with Great Britain, the Repub-
lie, with s population not exceeding
100000, owed public debt of 1927
334, 933, II, and paid it all off in TWEEN
ty years. Large as is our present
debt, onr 40,000,000 of people, WELD
ing the resources of q continent,
will not find it so great a burthcn as
their fathers teIt the war debt of
1916, to be, fifty years ago.
The reader will perceive, in exam
lining the above statement, that when
Mr.. Buchanan and the Democracy re-
tired, in March, 1861, from their NAL
administration of the Government,
they left an already existing debt of
nearly S90,000,000, for which, in a
partizan point ofview, only they, and
not the Republicans, are responsible.
vi. THE PRESENT STATE OF TAXA
TON.
When the late war closed, taxation
was universal; it covered about ev-
cry thing.except,land, agricultural pro-
duce, unmanutactured lumber, bread
stuffs, and few other forms of prop
ert or product. At least ten thous-
and distinct articles were then subs
.ject to tax. Now, after three years,
there is nothing taxed for Federal
purposes excep spirits, liquors tobac-
co manufacturers, gas, matches, and
playing cards ; stamp tax upon
perfamery, medicines and few 9TH
er things and upon written instru-
ments, and reduced tax on watches
plate, and carriages The amount OF
taxes abated or repealed since the
close of the war has been officially
estimated by the Commissioner o.
| Revenue, as follows:
r; = sisisa : lso7... loooo,oo
BY act of March 81, 1880, 900
SloI zo9,VV
The burthen of Federal taxation
no longer effects the masses Of the
people. 1t bears upon wealth, luxury
and personal Indulgence. As such
the people will prefer it to the new
Democratic theory of equal taxation
which is to press upon the farmer
and his products equally with The
wealthy capitalists.
VII. CONCLUSIONS.
Let the citizens, therefore, remem
Der these facts, which are established
by these most ample official authors
ty, and each of which as stated by
us in this article, are correctly ted
and may be corroborated by refere nc'
to authentic documents.
, ] The cost in money of the rebel
lion was over tour thousand milhon
Of dollars.
2. OF this cost, very nearly one
half, that is to say three elghts, hav'
; been already paid and foreverdischar
: ged. OF this whole forty one hun
J dred millions, only twenty-five hun
\ dred millions remain unpaid, in th'
shape of the existing public debt.
, 3. The Republican party, admins
\ tering the National affairs for sever
t years, have, in that period, encoun
! tered and crushed the most formida
bic rebellion ever known to civilized
/ people, meeting and discharging al
; the ordinary expenses of the Govern
9 ment, and very nearly one half o
: the cost OF the rebellion itself.
7 4. With the restoration Of peace
5 and the completed reconstruction Q
+, nearly all the rebellious States, tn
e cost of the public service, in all de
E partments, has been brought back {
: The anti war standard Excludin.
! the extra expenses in The curren