The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1869-01-13

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During that period. we were engaged 10 wars
VITA Great Britain aud Mexicn. snd were also
involved 10 ho<;iiities wiki erfrl lndian
tribcs. Lorisizna Was purV ron France
Al cost SIS. 90, 900. Florial xss eeded 10
the United States or Spain for So.ooo.0V0:
California Was scguired from Mexico for
s. o0o. 0oo. and the Territory II New Mexico
WAS obfsined from Texas for the sum Of
$1,000, eco Early in 1851. the war Of the
rebellion eOmmSpcec. and from the Isl day
Of July Of that year. to the Solh day Of June,
1855. the public expenditures reached the
enormous aggregate Of S2.sNO. ue.eoo Three
wars Of prsce interveuec. ard during this
time the disbursements Of the Government
have snecessivrly been. $3.50. 10000, $40
90. o0o ard SSss,, oto.Otu Adding 10 these
amounts. the SSs3 coo 600 estimated a. neceS-
sarg for the hsczl year ending the Soth Of
June. 1872 NE obtain ! total expenditure Of
81 Coz. 0OO. go duriRS the four ycars immcdi-
ately succeeding the war. Or nearly a. much
As Was expended during the seventy wears
that preceded the rebellion. and l embrace
the extraordinary expenditures slrsady uSm-
cd These startling facts Illustrate the neces-
sity OF retreuehment 10 all branches az the
public service. Abuses which weretolerated
during the war for the preservation VI the
nation. viii rot he endured now that pro
fJusd peAce prevails. The receipts from In
terrial revenue have, during the past three
years, gradually diminished. and the contin-
uance of useleSS and eNtrayagSnt expenses
will involve the United States in national
Bankruptcy, or else make inevitable an in
crease of the taxes already too onerOus ia
many respects. aud obnoxious On account
OF their iuQuiSiIorial character
One hundred millions yearly are expended
for tie military forces, 4 large portion OF
v hieh Is employed in the execution Of laws
unnecessary and unconstitutional Que hun
dred and Try millions are required each year
70 pay the Interest on the public debt. An
army Of tax-zatherers impoyerishes the Ia
ton, aud the public payments, being placed
bv Congress beyond he control Of the EN-
& ufive Department, turns from their legiti-
mate purpose the large sums Of money which
they collect from the people in the naule Of
the Government. JudiSious legislation and
prudent economy can alone remedy these de-
fec,s and avert the evils which, ii suffered to
exist, can not fail to diminish confidence in
the public councils, and weaken the attach
meut aud respect Of the people towards their.
political Institutions. Without proper care,
the small balance which it is estimated will
remain in the treasury al the close Of the
present fiscal rear, viii not be relieved, and
additional millions viii be added 10 debt
which Is estimated BY millions
Il Is shown by the able and comprehensive [
report OF the Secretary Of tbs Treasury, that I
the receipts Tor the fiscal year ending June /
50. 1865, were SOS, t1S 0cS s., aud that the 1
for the same period we're $751; /
go ~. leaving 10 the Treasury surplus Of !
SIS go, 80. Il Is estimated that the receipts I
duriug the present fiscal year, ending June I
80 1859. viii Dc SS4i Sst3 SOS, and the expend-
itures Ss-3s. i52 47O, showing small balance .
Of IS. ~. 229S in favor Of tic Government .
For tie tseal year, ending June -, $50. II Is 4
that the receipts VIII amount 10 .
1927. coo 600. aud the expenditure 70 SsO3,- I
0Qo.OCo, leaving an estimated surplus Of 80,
200, coo !
THE PUBLIC DEBT.
Il becomes proper, in this connection, 10
make brief reference 10 our public indebt :
edueSs, which has accumulated with such .
sal proportions. In l7SO, when the Govern
ment first commented operations under the
Federal Constitution. i was buruened with
An Indebtedness OF So, coo eco, created dur
ing tho var Of the revolution. This amount
tad been reduced to $4,000 o0, when, IL
lsl2 war VS. declared against Great Britain
The three years struggle that followed, large
y increased the national obligations. ana IN
lsl6 they bad attained the sum Of Sl27, 600
100 Wise and economical legislation, how
ever, enabled the Government TO pay the en-
tire amount within period u tEeaty years,
md the extiugUishueut Of the national debt
illed the land Eirh rejoicing. aud was one Of
The greatest sveufs Of President Jacks0u's
After its redemption, fair
'uut remained in the treasury, which was de-
posted for safe keeping with the several
states, on condition that It should be return
d VIXEN required BY the public wants In
$40, the year after the termination Of an ex-
JeHSive war with Mexico, We found ourselves
involved in a debt OF So go COO and this
zas the amount Ofervd by the Government,
n ls60, just prior TO the Outbreak Of the ~
1elliou- In the spring OF 1867 our civil war
commenced. Each year Of it, continuance
made an enormous addition TO the debt, and
when, in the spring Of 1875, the nation sue
,essfully emerged from the conflict, the Obii-
z1tiOus OF the Government had reached the
IMMENSE sum Of 8. s73 9a3, 9O9. The Secre-
ary Of the Treasury shows that OF the first
iay Of November, 1851, this amount had been
etdeed 10 - i9l 504, 40; but al the same
line. his report exhibits an increase during
he past year Of S., 6-5 l02; for the debt on
he trst day Of November last Is stated TO be
= ~, Ia, - II i estimated By the Secre-
airy that the returns for the past month will
did 70 our Liabilities the further sum of Sill
90. COO, making total increase, during thiF-
zen months, Of 81, 10000.
In my message 10 Congress Of Deeember4,
10, il was Suggested that 4 policy should be
ierised- which, without being oppressive 10
ne people, would az Gree begin to effect 4
SEDUCTION Of the debt, and if persisted, dis
,harge It fully, within a definite number Of
rears- The Secretary Of the Treasury fOrci-
liy ec0umends legislation Of this character,
nd justly urZes that the longer il i delayed
he more difficult must become its aec0m-
llishmeut- We should follow the wise pre-
;edents established in 1923 aud lsl6, and with
ut delay, make provision Tor the payment Of
iur obligations At a. early period as may be
lracticable- The fruits OF their labor should
Re enjoyed BY our citizens rather than used
20 build up and sustain mOueyed m0n0polies
"a our own, and other lands Our fureign
ieot Is sirsady compated by the Secretary Of
he Treasury Al 1854, 10000 Citizens Of Tor
ign countries receive interest upon 4 larger
lOrtion OF our securities, and American lax
ayers are made TO contribute large sums for
heir support. The icez that such 4 debt i
% become Permanent, should AZ all times be
f=czruet- - involFIuE taxation too heavy TO
e borne II payment, once in every sixteen
ears, At the present rate Of interest, Of an
mount equal to the original sun Of this vast
lebt i permitted, il viii become permanent
nd Increasing and must eventually be gath
red into the hands Of few, and enable them
0 exert dangerous and controlling power
q the affairs Of the Government The Dor
oxers would become the lenders, and be-
ONE the masters Of the people We now
ride ourselves upon having given freedom
o four millions Of the colGrsd race II viii
hen Be our shame that forty millions Of peo-
lie 6y their own tOlerufiou Of usuruaffou
nd prodigacy, have suffered themselves to
leeOne eusi1Ted, and merely exchanged slave
ITners for new taskuasters in the shape
4 boHd-hoiders aad tsx-gztherers- Besides,
armament debts pertain 10 mOnarcliisI gov
ruuents, and te1d TO moaopoliZe, perpefu-i
ties and class legislation Introduced into
ar republican system they would gradually,
Iat surely sap ifs foundation and eventually
- =
lpol is ruins = mOneyed aristocrzcy- II Is
l1r duty TO transmit, unimPaired, TO or pos