Fayette County herald. [volume] (Washington [Washington Court House], Fayette County, O. [Ohio]) 1860-1???, 1869-08-26

ted, exceeded 53GO,OUO, ,OOO. lie
estimated the expenditures about
/ $3.50, 100000 above the fact. and
the receipts about S40,000,0O0 be.
low the fact, and the result is that
instead Of the s150,000,000 which
he foretold, Dir Boutwell, has q
surplus Of between $50, 100000 and
s40,O00,0O0.
These gratifying results have
been obtained without any increase
Of taxation, first, by retrenchment
and economy, thus reducing ex.
penditurcs I'd, by a more thorough
and honest collection Of the reve-
Inues. have before me authentic
statements showing what was ac-
complished in some Departments
in the first four months Of General
. Grants Administration. There was
expended on account Of the War
Department last year, in the months
Of March, April, May and June,
not including Bounties and Recon
struction expenses, $31, 1872, 989,
und during the same period this
year, 919, ,996, ,444, ora saving under
General Grant in the latter period
Of 1885, 545. | am assured that
1t is safe to estimate that from
March 1st, 1869, to March 1st,
1870, the first year Of the present
Administration, the actual bona fde
reduction Of army expenses will be
fully $24,000,000, or 100000 a
month. The navy expenditures
from March to June, 1868, inclu-
siye, were s9,364,921, and for the
same period in 1869 they were ST.
1872, ,937, q decrease in 1869 of ST.
$751; 1884, The civil and miscellane-
GUS expenditures from March to
June, 1868, inclusive, were Sl8,-
390,574, and for the same period in
1869 they were S17,574,588, show
ing. a decrease Of SSIj,986. In
this item Of expenditure, as in sew
eral others, still greater retrench-
ment began with the present fiscal
year on the 1St of July last. How
it is done, appears in part from The
following special dispatch to the
Cincinnati Enquirer from Washing
ton, dated June Both, 1869:
The fiscal year closed to day,
and all of the old appropriations
expired. Tomorrow the Govern
ment goes forward on reduced APP
preparations. The result is that
several hundred officials were to-
day removed. Nearly two hundred
we're in the Treasury and fifty were
in the War Department. So far
some six hundred removals have
been made from the Treasury De
partment."
Great as is the reduction in ex-
penditures under General Grant,
the increased efficiency and faith
fulness in the collection of the rev
enue is equally gratifying. l will
detain you to give but a single ex-
ample, To collect honestly the
"tax on distilled spirits" common
ly called the whisky tax under An
drew johnson, was beginning to
be regarded as impossible. The
monthly collections, when General
Grant came into Office, we're lit
tie more than three millions Of dol
lars. Immediately afterward the
collections increased to over five
millions a month. The same re
suits appear in all directions
Without any increase of the rate
of taxation, the receipts Of the
Government ale rapidly and large
ly increasing.
Even his political adversaries
are compelled to admit the ability
and success with which Governor
Boutwell, administers the affairs of
the Treasury, When he adopted
the policy Of selling gold'and buy
ing bonds with the proceeds, the
Cincinnati Enquirer of May 10,
1869, said:
"The New York Times says that
Secretary Boutwell, will buy n mil
lion of bonds every week, and sell
million of dollars Of gold. If
this is done, it will be the first ink
ling of a return to asound financial
policy. Heretofore the idea has
been to increase the amount of the
bonds which bear interest against
the Government, and, at the same
time, add to the gold on hand,
which bears no interest in other
words, the idea was to increase the
amount of interest the Government
pays, while it derives no interest
from it's own funds! We more than
doubt whether the Grant Admins
tration will have the sense to pur-
sue a contrary course. lfit does it
will agreeably disappoint public eX-
pectation."
The only comment it is necessa-
ry to make on the paragraph from
the Enquirer is that Gov. Boutwell,
is now buying not merely one mil
lion, but from two to three millions
of Government Bonds every week.
l close what 1 wish to say as to
the policy of General Grants adj
ministration on the great subjects
of taxation, expenditure and debti
with a statement of the confident
opinion that, with the same policy
continued, without any increase Of
the rates of taxation, the debt in
CURED in suppressing the rebellion
can be paid off in less time than
was required to pay off the war
Debt of the War of 1872.
THE STATE FINANCES,
Having seen how Gen. Grant is
with tbe Uf6at financial