The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1869-10-13
IrnoN OUR ows CORRESPONDENT
WASHINGTON, Octobc

may INc uccil luiltlrcS iii some instances, but
the economy Of his administration and the
great reduction Of the public debt will make
| 1t triumphant" more shameless clcctiOnccr-
Ing fabrication was never published from the
hlstings. What are the facts .and figures
about the public debt? Any child vcrscd I'm
elemental arithmetic can do the sum and ex-
pose the humbuggcry of their so-called debt
| statements. Here it is: On the lst day of
November, 1867, the public debt, as It appear
ed on the books of the treasury, was s2,49I,-
| 504, ,450; on the lst of October 1869, It was,
according to the debt statement lust ont
S2,475,9G2, ,50l. Now the actual reduction, in
nearly two years, 1t will be seen, is lust sl5,-
542, ,S49-most of which occurred during Prcs-
dentJohnson's administration, even when the
bounties were being paid and Alaska was pur-
cnased! BY throwing out the SCI, 800 Of
Pacific Railroad bonds, which the government
issued to the various roads, and for which 1t Is
just rs responsible as it is for the 5-20's Of G2
Mr.. Boutwell, makes II appear that since
March LIST the public debt has been decreased
s5G,0GS, 1877 90! when the fact Is, that in that
time 1t has not been reduced cent. or course
II has been decreased In some particular
months, but placing the government Pacific
Railroad bonds with the principal Of the public
debt, where they belong, there has been no
actunlrcductlon In all that time Tile question
is not how much has tic debt been reduced In
eight months, but how much las 1t been re-
duccd Ill the years in Which the Secretary
strikes his balancc-shect for Congress, name
ly, November 1st of each ycarg From Novcm-
Der lst, 1867, TO October lst, 1869, the decrease
as shown, is some fifteen and q half millions;
but on November lst, thrcc weeks hence, some
fifteen millions of coin will be paid on the 5-2os
OF 1862. Dcbited from the decrease of the
debt, how does the Treasury stand any better
on November 1st, 1869, than 1t did on Novcm-
Der lst, 1867? But aside from all this, Mr.. Nc
Culloch did better than Mr. Boutwell, has DONE
The eS-Secrctary always included the govern
mcnt Pacific Railroad bonds in the statement
OF his debt, and yet, in one year from Novcn-
Der lst, 1866, to November lst, 1867, lie retuc-
ed tile debt exactly s59,sO5,656 II! have
taken tho above figures and dates from the
books OF the treasury, and been careful there
in. Let them be answered. ts.s.
Some Of the gealthIest und most public
spirited citizens In Washington have entered
In good earnest upon n movement for an in
ternational exhibition here in, 1871. a few
weeks ago set of advcnturers got mp sm-
lar project, whose only purpose, it was soon
evident was to provide Offices for themselves
and get their salaries paid, by contributions
from citizens, until nm appropriation could bo
worked ont Of Congress. Responsible parties
rather than see the question of q great exnosi-
tion brought into ridcue, stepped forward
and have secured an effective organization.
The work has already been planned on n large
scale, and fit falls Of fulflmcnt, 1t will not
be for want Of proper effort expended in the
right direction. Last night committee re-
ported plan to charter company by Con-
grcss, with capital of one million dollars In
| shares of fifty dollars each It Is proposed
that oil this stock shall be taken in Washing
ton. The committee seem to admit the force
Of all the objections made against holding an
international fair here-such as the absence or
railroad facilities and the proper hotel accom-
modatlons, the high price OF mechanical labor,
&C., and tho fact that the fairs held at New
York, London and Paris have been failures in
financial point of view. / asked to-day
protector what the object of this fair really
was? He replied, ITO put Washington fifty
years ahead" Let million dollars be SUBJ
scribed to establish cotton factories on the Po-
tomac, and the benefit will be greater than a
fair. m IN.
There is something to be gained in the sta
Dility OF taxation, even If 1t Is otherwise bur-
densome, and l am, therefore, pleased to write
that the Secretary OF the Treasury intends TO
turn deaf ear to the many appeals made to
him for recommendations to Congress for
changes in the rates of taxation. Most OF
these nre to reduce the tax on manufactures,
increase 1t on whiskcy, and put It on cotton.
The Secretary will not advise that q tax bo
levied on cotton, or that the tax on distilled
spirits be disturbed. In his annual report he
Will advocate the continuance Of tho impor-
tant features of the internal revenue laws un-
til, by fair trial, they are found not to meet
the expectations of the government He says
that the trouble heretofore has been that suf-
ficlent time was not allowed to test the practI-
cability of tho laws before Congress- stepped
In it1ld made O radical change. But no matter
what Mr.. Boutwell, may recommend, the pres
sure from the country for reduced taxation is
80 great that many bills will be introduced at
the coming session, ende .yoring to tighten tho
taxpayers burdens. hear of several bills to
reduce the income tax from five to three per
cent, and, judging from the feeling last wInt
ter, they will have great strength In tho
House. ~
Mr. Spraeue, of Rhode Island, has spent his
time prohtably during the Congressional re-
cess, and Will throw down the glove again to
the Radical Senate In December. Messrs. AM
thony, his colleague, and Wilson, Of Massa.
chusetts, will receive his special attention;
while he will make o general onslaught on tho
financial policy and corruption of the RepublI.
can can party. Mr. Bontwell's gold-selIing and
bond-purchasing policy will be earnestly opp os-
ed, and It's defects shown up Towards the
close OF tho last session, under tho advice OF
Wilson, It was agreed that tho Radical Benz
tors sfould take no noticeaof Mr.. sprague,s
speeches, but they were SO catistically cut up
that this understanding was hastily abandoned.
Washington Is doing Its best TO open q