The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1869-08-13
DEMOCRATIC FINANCIERS.

Ever since the ascendancy 20 pow
er of the Republican party we have
been told by the Democracy that the
nation was on the verge OF bank
ruptcy, and that the financial skill of
that party was requisite to save our
national credit. We do not now re-
fer to those Democrats who, with
shameless effrontery, declare that we
can never meet our financial engage
ments for we hold that man who
advances such a theory is either q
fool or q knave. On the contrary,
we have reference to the Seymours
and Pendletons of the perty, who
seem to think that without their aid
or that of their party, the national
exchequer must become bankrupt.
1t is not SO long since we had trial
of Democratic management of the
finances of the nation, and we pro-
pose to cite Democratic authority to
show the condition of the Treasury
under Democratic management
Under date of Dec. 3, 1860-the last
days of the last Democratic admins
tration with which this country was
cursed-the Ohio Statesnaan,( the cen
tral Democratic organ in this State)
has the following article:
CONDITION OF THE TREASURY
1t cannot be denied that the man
apement of the national finances by
MIR. Cobb, has been a most mortify
ing failure, and to-day the national
excheauer is SO low in funds as to be
unable to pay the members Of Con-
yress their mileage and back dues.
Mr.. Buchanan in his message en-
deayors to convince the country that
he has been economical in the ad-
ministration of the government; but
the heavy drafts on the treasury, and
its present low condition, will not be
regarded by the people as evidence
of the fact which he labors to impress
on the public mind.
The truth is the administration
has been extravagant Congress has
been extraVagant and reckless in its
appropriations, and the Chancellor
of the Exchequer, Mr.. Cobb, has
been lamentably deficient in his man.
aeement of the Treasury, and to-day
stands forth before the country as a
great humbug and complete failure.
The organ of the Administration
at the Federal Capital, within the
past two years, ridiculed the feeble
efforts of few well -intentioned mem
bers of Congress, who endeaVored to
reduce the public expenditures, and
declared that the expenses of the
Government could not be reduced
below S65, 900, 900 per annum. Now
Mr.. Buchanan thinks they may be
brought within s55, ,000, 900, and this
is at least SIS 600. 900 more than is
requisite. Everything necessary to
be done or that has been done to
cause an outlay OF public money for
some years past, or that will be done
for some years to come, should, and
would, if economy were studied and
a rigid accountability exacted, be
performed for an annual charge on
the treasury of from $35, 600, 900 to
$40. coo, 900.
But in all departments, legislative.
executive and Judicial, the great
point appears to be how to get rid of
the public money the most rapidly,
and by what process ga good thing''
msy be obtained at the expense of
the National Treasury.
Here, then, is Democratic con-
fession that four years of Democratic
fnanciering had SO depleted the
treasury that the nation could not
pay her Congressman their mileage
and back dues. Nor was the credit
of the nation in any better condition.
\ prominent New York paper, few
months later, Feb, 1861 J, speaking
of the momentous questions then
attracting the painful attention of all
parties, says:
"The finance question necessarily
enters into consideration in the en-
deavors to form an agreement { or
ahe basis Of one) in Washington
The Treasury must have money, and
New York is the only point where
essential aid esn be obtained. Con-
.gress may pass acts Cor raising loans,
amt the United States .cosld not, un-
der preseGt circumstances, negotiate
a loan for Aye millions of dollars in
this city" ai
The last Democratic Presfde6t Jeff
the executive chair with not silver