Public ledger. [volume] (Memphis, Tenn.) 1865-1893, 1868-12-11
PRESIDENTS MESSAGE.

The condition of our finances demands
the ready and earnest consideration OF
Congress. Compared with the growth
of our population, the expenditures have
reached an amount unprecedented in our
history. The population of the United
States in 400 was nearly 1000, 600, and
increasing each decade about thirty per
cent, it reached in 1860 SCI ,000, 1000, an
increase of $50 per cent. on the popula-
ton in 1890. In 1869 it is estimated that
it will reach $4,000, 900, an increase of
1863 per cent. in seventy-nine years. The
annual expenditures of the Federal Gov
ernment in 1871, were $4,000, 900; in 1920,
$l10, ,200,O 900; in 1850, $4l, 900, 900; in
1860, $63,000,00 in 1865, nearly ST.
800 ,00O, 900; in 1867, it is estimated by
the Secretary of the Treasury, in his last
annual report, that they will be 1872, 2,000,-
900. By comparison of public disburse-
ments of 1869, as estimated with those of
1871, it will be seen that the increase of
expenditures, since the beginning of the
Government, has been S6l8 per centum.
Again, the expenses in 1860, the year of
peace Immediately preceding the war,
we're only $4,000, 900, while in 1869, the
year of peace, three years after the war,
It is estimated at 1872, 100000, an in
crease of 489 per cent, while the increase
of public expenditures was only twenty
one per centum for the same period. The
statistics further show that in 1871 the
annual national expenses, compared
with the population, were little
more than one dollar per capita.
and in 1860 50 per capita, while in 1869
they will reach the extravagant sum of
| SO 78 per capita. 1t will be observed
that all of these statements referred to
are to exhibit the disbursements in time
of peace. 1t may, therefore, be of inter-
est to compare the expenditures of the
war periods, viz: the war with Great
| Britain, the Mexican war, and the war
of the rebellion. The annual expenses
incident to the war of 1872 reached, at
their highest amount, to about $3l l,0OO,-
600, while our population exceeded
| 100000, showing an expenditure OF
only 50 so per capita. In ls47 the ex-
penditures growing out Of the war with
Mexico, reached $54,000,000, and the
population was about 1000, 900, giving
only 81 60 per capita for the war ex-
penses of that year. In 1865 the expen-
ditures called for by the rebellion reached
the vast amount of $3.50, 900, 900.
which, compared with q population Of
"a, 600, 900, gives $28 30 per capita.
From the fourth day Of March, 1889, to
the 30th of June, 1861, the entire expen-
ditures of the Government we're $l,700,-
600, and during that period we
were engaged in war with Great Bri-
tain and Mexico, and also involved in
troubles with powerful Indian tribes.
Louisiana was purchased from France at
a cost Of $l50,0O0, 900. Florida was
ceded to us by Spain for $1,000, 900.
California was acquired from Mexico
for SIS, 5,000,0 900, and the Territory Of
| New Mexico was obtained from Texas
for the sum Of $l0,000,000 Early in
| 1861, the war of the rebellion COM
menced, and from LIST Of July, of that year.
to the Both Of June, 1865, the public ex-
penditures reached the enormous aggre-
eats of s, 300, 900, 900. Three years Of
peace have since interviewed, and during
| that time the disbursements Of the Gov.
eminent have successively been $780,
OOO. 600. s3l6, 600, 900 and 1878. 600, 900.
Added toahese amounts, the $3I2,0O0,-
900 estimated as necessary for the hscal
year ending June 30, 1869, We obtain a
total expenditure Of $1,000, 100000 dur
ing the four years Immediately succeed
ing the war, nearly as much ss was
expended during the twelve years that
preceded the rebellion, and embraced
the extraordinary amount already
named. These facts clearly illustrate
the necessity Of retrenchment IN all
branches Of the public service. Abuses
which had been tolersssd during the var
for the preservaiion Of the nation, viii
not be endured by the people nov that
profound peace prevails.
The receipts from internal revenue aud
customs have, during the pas, thres years,
gradually diminished, and the continu-