The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-10-28
THURSDAY, OCTOBER 2s, 1869.
THE FINANCIAL POLICY OF TIE
ADMINISTRATION.


energies on some vital portion of his public
duties, and to see that they are discharged
with unexampled fidelity and success, even if
matters of subordinate moment are, to some
extent neglected. It was announced, before
his Inauguration, by those who were most
familiar with his private views, that he IN
tended to pay special attention to the faithful
collection of the revenue and the diminution
of the national expenditures; and the crafty
ine results with which the people have already
been familiarized by the monthly statements
of the reduction of the public debt are largely
due to this determination. He had the saga
city to perceive that future political
contests must turn, to a large extent, on
financial questions, and that since the resto-
ration of peace and the triumph of recon-
struction the people are more deeply inter-
ested in an improvement of the public credit,
reduction of the debt, and the establishment
of efficiency, honesty, and economy in the
financial departments of the Government, than
in any other subjects. While partisans have
been grumbling about appointments, and
sensational politicians have been striving to
embroil the nation in new difficulties, the
administration has been steadily and zeal
ously laboring to reform the many abuses
which had grown up under Andrew Johnson,
and to increase and husband the resources of
The Treasury.
The results of these labors have recently
bt en- made apparent by official statements for
the two quarters ending September 80, 1869.
Six months of Andrew Johnson's rule, ending
September 80, 1868, displayed the following
results
Total expenditures s.................. 1876 954 1852
Excess Of receipts over expenditures s5O78,1 1as
The corresponding six months of the pre-
sent year, under the rule of General Grant
have produced the following result
Total receipts 1921, POI 54
Total expenditures, 16O, 15344s
Excess of receipts over expenditures. s61, Jos O76
Or, in other words, while Johnson was re-
ducing the public debt at the rate of ten mil
lions per annum, Grant has effected reduc-
ton at the rate of more than one hundred
and twenty millions per annum, or twelve dol
lars for every one paid off by his predecessor.
Although the laws have varied in several
matters affecting the finances during the two
periods there would have been but little
reason to hope for any material improvement
in the financial condition of the country in
1869 if johnson had remained in power, and
the gratifying results stated above are due in
a large degree to the fidelity with which the
laws have been executed and the action of
the last Congress in cutting down the esti-
mates submitted by Johnsons Cabinet.
The public appreciation of the grand result
will scarcely be increased by study of the
details, but some of them are of such strik-
ing interest that they deserve special atten-
tion. This is especially true of the immense
gain in many districts ON the internal reve-
nue. from spirits and tobacco. In two dis
tricts Of Virginia, for instance, 1892, 200
more money was collected from the tax on
tobacco in July, August, and September 1869,
than in the corresponding period of 1868
In the Cincinnati (Ohio) district there was an
increase of $497, 900 in the receipts from
spirits during the same period. Similar re-
suits, although of a less striking character,
are reported in many other sections of the
country, and they all lead irresistibly to the
conclusion that General Grant is now COL
lecting millions of dollars of revenue which
under the loose system prevailing under his
predecessor, would not have enriched the
Golfers of the nation.
A considerable reduction in the expendi-
lures of the War Department has already
been effected. The cost of maintaining this
branch of the public service during the six
months ending September 80, 1868, was
$61 ,607, 269, or at the rate of more than one
hundred and twenty three millions per annum.
During the corresponding period of the pre-
sent year the War Department expenditures
amounted to $29, 513, ,032 or at the rate of
less than sixty millions of dollars per annum,
a reduction of more than one-half. This
sum, however, still seems unnecessarily large
for our small peace establishment, and we
hope that means will soon be devised to cut
down the present appropriations at least one
half. There must be fearful waste, some
where, in the expenditure of nearly two
thousand dollars per annum for every soldier
in the field or in garrison. General
Grant earnestly recommended reform and re-
trenchment in this department when he was
acting temporarily as Secretary :of War; but
much as has been already done, there is still
room for large reductions in the appropria-
tions for military service. With tho final
completion of reconstruction, and the cOnse-
quent withdrawal of troops from the South,
the ability to perfect the reform will be
greatly increased; but meanwhile we trust
that every useless appendage of the depart