The national Republican. [volume] (Washington City [D.C.]) 1866-1870, 1869-10-29
THE NATIONAL YlHANcRs
Facts and suge.ss,e~s-Thss stamp


Especial Correspondence Of the Newark. n. j..
Benuhel.1
wAsuisoros. oe,obsr .,
In this correspondence under date OF the
10Th Instant, II was pertinently remarked,
"Hs matter, therefore, to b. considered 70, anal
the public debt be reduced at the rate Of $780,.
100000, per annnm, or shall fdrafion b mod.
fed7"
Since the writing Of that letter, General
Spinner, the United States Treasurer, has
rapidly progressed In tho preparation OF his
annual report. The figures with which Gen.
eral spinner finds the financial facts Of the
nation call upon him to deal, will no doubt
prove rs agreeable asurprise to the people Of
the country as they have proved to him. A
DEPRESSION may be permitted here to say that
the gratifying exhibit Of the national nnan-
ccs has apparently acted like the elixir Of
life on the honest, laborious, aud efficient
United States Treasurer; the elastic step Of
youth has succeeded to the sober tread Of
middle age with him, and as he was OBJ
served by your correspondent, actively step
ping along the street to obtain his break fast
after four hours OF early morning work In
his Office ut the Treasury building to-day, he
seemed to have thro IN of the wrinkles OF
age and the cares Of the doubtful finances,
and to be rs full OF youthful vigor and hope,
and as confident In the nations future career
of credit, us was the air OF this beautiful
autumn day fresh and pure.
But let US briefly scan the practical result
produced In six months. Commencing with
April I, 1869, and ending with the last day
Of September, 1869, General spinner's books
exhibit a net gain to the finances OF the
Government OF ESQ, 000, 900 over the same
period Of the year previous. This is attrib-
utable as well to reduced expenditures as TO
an increase In the revenue.
The question can then be again appro'
priateiy presented: Is 1t good policy to ask
this generation to reduce the debt at the
rate OF 800, 100000 per annumi Would 1t
not be wise, In broad statesmanlike view,
to relieve the people of the present day OF
part of the burden Of taxationl II surely
would be a stroke Of political common sense
for the party In power to avail itself OF the
credit of having reduced expenditures aud
Increased the revenue, and to practically
give evidence OF such result by proposing to
reduce taxation during the first year Of the
Administration, and yet be able TO demon
strate its ability to continue the gradual
liquidation Of the public debt. But We can
afford to leave the consideration Of this ques-
tion to Congress.
Secretary Boutwell, has clearly exhibited
to the nation, as this correspondence as
carly as last May predicted he would, his
ability to manage the finances. Commits
sioner Dc'ano has not failed to demonstrate
his genius as a tax-gatherer, while the coun-
try has every confidence in General Splnner's
accounting qualities. 1t remains for Con-
gress to study the situation and revise the
laws in the interest Of the people, and It Is
now peculiarly the duty Of the press to hold
Congress responsible.
A few facts that may be presented In this.
connection can do no harm, aud may prove
excessively valuable. We have lying on
our table a report OF the Commissioner of
Revenue for the United Kingdom Of Great
Britain for the year ended 3lst Of March,
1863, from which we make some extracts,
for comparison with extracts from the re-
ported statement Of Mr.. Delano for the year
ended June 80, 1869: