Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1868-12-11


by the Secretary of the Treasury, in his last an
nual report that they will be three hundred aau
seventy-two million. BY comparing the pnkonc s
disbursements of 1853, estimated with tnose
of 1891 it will be that the increase OF e1pen
ditures since the beginning # the goVer!iLAeI'
has been eight thousand six hundred ana IN
teen per ceat,sl while the increase OF the p0pu-
lation for the same period was only elght nun
dred and sixty-eight per cent,tn' agslh; tne ea *
penses Of the government In 1909, Tue year VI
peace Immediately preceding the war: were only !.
sixty-three million, while in 1866, the year OF
peace three years after the war, IL ls esumateu
they will be three hundred ana seven
hundred and eighty-nine per certun''
while the increase of population vas only TWEEN
ty-one per certuna for the same period. These
statistics further show that in 179l, the annual
n atiOpa expenses, compared with the population,
were little more than one dollar per capita, and in
/ 1860, but two dollars per capita, while in 1882
they will reach the eXtravagant sum OF nine dol
lars and seventy eight cents per capita.
| 1t will be observed that all of these statements
refer to, and exhibit the disbursements of peace
periods 1t may, therefore, be OF interest tc COM
! pare the expenditures of three war periods, the
war with Great Britain, the Mexican war, and the
war of the rebellion. In 1914 the annual expenses
amount-about thirty-one million, while our
population slightl5 exceeded eight mil
/ lion, showing an expenditure OF only
three dollars and eighty cents per capita
| In 1847 the expenditures growing out of the war
with Mexico reached fifty five mllllons, ana the
population about twenty-one millions, giving
/ only two dollars ana Sixty Genus per CupIto AoA
| the war expenses of that year In 1865 the e1,
penditures called for by the rebellion reacheo
the vast amount of twelve hundred and ninety
millions. which compared with rs p pidht doIaGs
and twenty cents pr cdpud. ,-,o /.
the 3Oth of June 1861 the entire e exp SHna-
! teen hundred millions OF dolIars. DuflnS
that period we were engaged IN wars with dreat
Britain and Mexico, and were involved in hostlll-
ful trIhnR
purchased from France at a cost of ffte gu MIL
! lions of dollars. Florida coded to US by Spain
for five millions. California was acquired from q
| Mexico for fifteen millions. and the territory OF
| New Mexico was obtained from Texas Tor the
sum of ten millions. Early in 1861 the war OF the
rebellion commenced, and from the LIST or July OF
that year to the 3Oth of June 1865, the public tx
penditures reached the enormous aggregate CT
thirty three hundred millions. Three years OF
peace have INTERVIEWED, and during that tlIne the
disbursements of the government nave, success
slvely, been five hundred and twenty millions,
three hundred and fsrty-six millions and three
| hundred and nnety-three mllhons. ADDING TO
these amounts three hundred and seyenty-t"o
millions, estimated as necessary tor the hseai
year ending the 30th of June. 1869, We obi ain q
total expenditure of sixteen hundred millions OF
| dollars during the four years Immediately sue
! ceeding the war, or nearly as much was exten-
ded during the seventy-two years that preceded
| the rebellion, and embraced the extraordinary
expenditures already named. These startling facts
clearly illustrate the necessity OF retrenchment
in all branches of the public service. &bnses
which were tolerated during The war tor the
preservation of the nation viii not be endured py
people now that profound peace prevails. The
| receipts from internal revenues and customs.
have during the past three years gradually
diminished and the continuance OF useless ana
extravagant expenditures will Involve US III
national bankruptcy or else make inevitable an
increase of taxes already too onerous and in
many respects obnoxious on account OF their
annually are expended for the military force, d
| large portion of which is employed IN t he
execution of laws both unnecessary and
unconstitutional. Ono hundred and fifty
millions are required each year to pay
the interest on the public debt. An army
of tax-gathers impoverishes the nation,
and public agents, placed by Congress beyond
the control of the executive, divert from their
legitimate purposes large sums of money, which
they collect from the people in the name OF the
government. Judicious legislation and prudent
economy can alone remedy defects and avert
evils which is suffered to exist, and cannot fail to
diminish confidence in the people towards their
political institutions. Without proper care the
| small balance which it is estimated will remain
in the treasury at the close of the present hscal
year viii not be realized and additional millions
be added to 8 debt which is no" enumerated by
billions. It is shown by the able and compre-
hersiVa report Of the Secretary of the Treasury
that the receipts for the fiscal year ending June
30th 1868, were S405, 63S, 083, and that the ex-
pendtures for the same period were $377 340, 2o4,
leaving in the treasury a surplus of S29,297, 1913.
1t is estimated that the receipts during the
present fiscal year ending June 3Oth, 1859, will be
showing small balance of $40 1873 In favor OF
| the government. For the fiscal year ending June
3Oth, 1870, it is estimated that the receipts viii
amount to 1897, 100000 and the expenditures to
S3O3,OOO,CCO leaving an estimated surplus Of
$24 DOC, 600.
It becomes proper in this connection to make a
brief reference to public Indebtedness, which
has accumulated with such alarming rapidity and
assumed such colossal proportions. In 1883
when the government commenced operations I'M
der the federal constitution, it was burdened with
| a I rS
created during the war of the Revolution. This
amount had been reduced to forty-five million OF
Great Britain. The three years struggle that
followed largely increased the national obliga
tions. and in 1916 they had attained
f the sum OF one hundred and twenty.
seven million. Wise and economical legis
latiOn, however, enabled the government
to pay the entire amount within s. period OF
twenty years, and the extinguishment OF the
: was one OF the moral events of President Jack
sons administration.
After its redemption large fund remained in
the treasury, which was deposited for safe keep
ing with the several States, on condition that il
should be returned when required by the public
wants. In 1849, the year after the termination
of an expensive war with Mexico, we found our
selves involved in debt of siXty-tour millions
and this was the amount owed By the govern
ment in 1850, just prior to the outbreak O
the rebellion. In the Spring OF 1851, our civil wal
f commenced. Each year of its continuance made
an enormous addition to the debt, and when in
the Spring Of 1865, the nation successfully
emerged from the conflict, the obligations Of the
= government had reached the immense sum Of
81, 873, 992, 909. The Secretary of the Treasury
shows that on the first day Of November, 1867
) this amount had been reduced to s2.49l, 504,
s $50, but at the same time his repor
= exhibits an increase during the past veal
of s35, 625, 102 for the debt the first day of No
vember last is stated to have been $2527, 129, $50
1t is estimated by the Secretary that the return
for the past month will add to our liabilities the
0 further sum of eleven millions, making total in
v crease during thirteen months of forty-six and
Il half millions. In my message to Congress o
Q December 4th, 1865 it wss suggested that
! policy should be devised which, without bein
oppressive to the people, would at once be
: gin to effect q reduction of the debt ard,
It persisted in. discharge it fully within
5 definite number of years. The Secretary OF til
:. Treasury forcib1y recommends legislation of thi
8 character, and justly urges that the longer it
st deferred the moro difficult must become the az
10 complishment. We should follow the wise prece
d dents established in 1889 and 1916, and withou
II further delay mako provision for the payment c
% our obligations at early period may b
o practicable. The fruits of their abOrs shond b
Il enjoyed by citizens rather than used to bull
% up and sustain moneyed monopolies in our on
and other lands.
\ Our foreign debt is already computed b
r the Secretary of the Treasury at eight hur
), dred and fifty million. Citizens of foreig
-, 1870 L..