The evening Argus. [volume] (Rock Island, Ill.) 1861-1871, 1870-09-19
CONTINUED FROM SATURDAY.


Here is choice morsel from this "pel
tectly reliable review:
by means of the redem ption and pay
ment of the one hundred and thirty nin
millions of coin interest bearing debt thu
public are relieved forever from an annus
tax OF the amount of eight millions ana one
third of a million OF dollars 1854 70 %
which sum was each year required s'np,
to pay the per cent gold interest," an!
due on the one hundred and thlrIy nine
millions of dollars.
.Tha s;,bt and one-third millions OF
a,rn.T,.xstion would, without compound
or discount. have swol!ea to al aggregate
of airhty.three millions in ten years, to one
hundred aud sixty seven millions 10 twenty
wears and two hundred and fifty millions OF
taxation III thirty years.
This is perfectly splendid. 1t almost
makes ones head swim to see how rapidly
this sum runs up. But the writer is entirely
too modest. Why did he stop at 40 years ?
He could have gone on for q thousand Just
RS easily, and thus in the same way have
shown that Grants administration has
already saved to the American eight thous
and million dollars, more money, in fact
than there Is on the entire globe.
sm tempted to give one other specimen
before passing from this amusing document.
Here it is.
BY the foregoing, among other facts will
appear the following:
REDUCTION OF ANNUAL INTEREST.
Annual saving of interest npon princi-
pal of public deb, paid, sbout......S S,500,0oO
Retundlng AT lower rate, consequent
upon improved credit ................. 25.5UU,UoO
Interest { Certificates to
bepaid under currency act........... l,5o2,6oe
Totol amount saved of interest...... $50, S62 600
when the new series of bonds shall be negotiated.
Now that is absolutely sublime. The sum
OF IL is that not one doll ar Of these bonds has
been refunded OF is likely to be, nor has
one dollar of these 3 per cents. been paid
But no matter, figures can't lie II our
public debt can be paid in this way, by
piliug up columns OF figures, why do we
stop at 4 or 5 per cent? Why did not con-
gress TX the interest 10 their funding bill
at per cent, or, better still enact that the
debt should be refunded without interest
hereafter. Then what splendid showing
this writer could have made for Grants
ad ministration.-Sl $50, 900 600 in interest
saved the first year; and then, adding that
up for 40 years, it would give us such On
enormous sum of money that we could Gil
live in clover and pay no taxes in the future
forever.
This reminds me of the figuring Of Grants
cabinet officers go happily exposed BY Mr.
Dawes In January last. | read from his
published speech
"Mr. Dawes-Then the gentleman from
Pennsylvania will excuse me. | may be
psrdoned, as a friend of this secretary and
OF this administration, in what | may
feel compelled to say in reference TO either
hIa estimates of the whole administration,
when | say the estimates of tins secretary
IN reference TO these expenditures do not
inspire me with entire confidence. | know
he speaks of economy and the saving OF
money, but, sir, the great poIHt upon which
/ ind that he has expended his energies Is
upon the promise he holds out to the house
that he will save s., 600 600 upon the article
OF coal alone, the whole estimate for which
Tor the last two years was less than : l50
900 year Sir, that is an achievement OF
mathematics that finds its parallel only IN
the attempt to save 81, 900 900 By abolishing
the Thanking privilege. when all the paper
bought by this government and 30 letters a
day TO every member sent through the mails
at regular postage, would pay less than
$3UD,0OO. l hope to see the ranking
privilege abolished, bu, on no snch absurd
pretence that it will gave $5.000.0O0. /
really think that if the mathemstcsns who
put these figures in the heads of these two
secretaries could be brought to light and
set to work, the public debt would be paid
before the expiration of this administration
Laughter !"
This wonderful mathematician does the
figuring for the republican congressional
committee 1t must be the same map. 1t
Is hardly possible that the world could
produce two such prodigies in the same age
ALARMING EXTRAvAGASCE OF CRANES AID
MINTsTRATIoE.
Bat, turning aside from this absurd
document let US look for moment at few
facts which are incontrover,ibe, and see
whether as Mr.. Dawes charges, the tendency
of Grants administration is alarmingly in
thedirection of extravaganza ofexpenditure
] will examine the fiscal year which closed
on the Both of June last, and state, as near
as I can be ascertained from official records.