The Conservative. (M'connelsville, Ohio) 1866-1871, 1869-01-08

If the statement Of the public debt on
the first day of April, 1865, had included
all debts dueat that time, and 81, 1922, $780,
1915 had really been expended in pay
ment of the interest on the public debt,
and the current expenses Of the govern
ment between that day and the frst day OF
November last, there would have been q
profligacy and a recklessness in the ex-
p%enditures of the public moneys discredtt-
able to the government and disheartening
to taxpayers. Fortunately this is not the
fact
The statement las is true of oil other
monthly statements of the Treasury ex-
hibited only the adjusted debt, according
to the books of the Treasury, and did not,
and could not, include the large sums due
to the soldiers of the great Union army
numbering at that time little less than a
million Of mem for pay and for "boun-
ties" or on claims of various kinds which
must of necessity have been unsettled.
For the purpose OF putting this matter
right. the Secretary has endeavored TO as
certain from the War and Navy depart
ments how much of their respective dis
bursements. since the close Of the war, has
been in payment Of debts properly chargea-
BILE to the expenses of the war. The fol-
lowing is the result of his inquiries.
By the War Department ......... S595,43l, 1850
by the Navy Department ........... 35,OOO'OOOO0
It has been impossible to obtain an ex-
| act statement of the amount Of such debts
paid by the Navy Department, but suih-
cient information has been received to JUS
tify the Secretary in estimating it in round
numbers at thirty-fvo millions, which is
probably an under rather than an ovor-cs-
innate. The expenditures of tho War De-
partment have been furnished in detail,
and are believed TO be substantially cor
rect.
These figures show that tho money OK
pended by the War and Navy Departments,
between the LIST day of April, 1866, and
the LIST day Of November, 1868, on claims
Justly chargeoble to the expenses ofthe war,
Amounted ............. ... SG30,43l, 1850
To which should be added amt
advanced TO the Pacific roads az, 9i,00O.OJ
Amount paid for AlagEa ....... h2OO,OOO.Ol
$685. 25, 1850
Deducting this sum from the amount Of
the 81, 662, 41G, 0G2. 20, and SlGO,
17i,475.4s, the increase of the public debt
the remainder, 81, 142, S25, All. 7S, for al
average of 1913 1928, OF. SO per annum, Is
the amount actually expended in the pay.
mont Of current expenses and interest.
REDUCTION OF THE DEBT.
1t is thus shown that within a period o.
three years and seven months, the reve
MUGS or the receipts from all sources O.
revenue reached the enormous sum o.
81, 6B2, 496, O62. 20, and that $500, 431, 125.9C
were paid on debts which were &c.
tually due at the close Of the war, and fol
bounties which, like the pay Of the army
were a part of the expenses of the war
Adding the amount thus paid 10 the debt
as exhibited by tho books OF the Treasury
on the first day of April, 1865, II appear
that the debt I the United States at tina
time was So 97, 3SG, 203, "a, and that tn,
actual reduction has been S470, 900, $50. AZ
and but for the advances TO the P0cih,
roads, and the amount paid for Alaskn
would have been S59l, 600, $50. AZ
The Secretary, therefore, renews the
recommendations made in his first report
that a certain definite sum be annually up
piled to the payment Of the interest anc
the principal OF the debt. The amount
suggested was two hundred millions OF
dollars. As the debt isconsiderably small
er han It's maximum was estimated at, tn
amount to be so applied annually might
now safely be fixed ct $40, 900, 600, nc.
cording to the estimate already made IL
this report.
GENERAL OPERATIONS or Il TREASURY
In concluding this communication, II
may not be inappropriate for the Secretary
in a few brief words, to review some points
in the general policy Of the administntior
Of the Treasury for the past four years.
The following statement-published II
the last Treasury report-exhibits the con.
dition of the Treasury on the LIST of April,
1865: