Wyandot County Republican. [volume] (Upper Sandusky, Ohio) 1869-1903, 1870-03-18
THE CLOSE OF GRANTS FIRST
YEAR.

The quotations of Gold which
have been steadily and rapidly 60
ing down during the past fortnight,
fell on Friday till the premium
reached the vicinity of 113 3,-funct-
uating the greater part OF the day
few fractions above that point, but
ut one time striking fraction be-
low it. The quotations of Govern
ment bonds indicated, during the
day, that they were on the verge of
par in gold, most of the varieties
being worth little less than gold
while one variety was at a gold pre-
mium over its face value.
That the day (which we are able
to chronicle these highly favorable
financial facts was also the day that
marks the termination of the first
year Of President Grants Admins
tration of public affairs,is circum
stance which the friends of the
President will observe with unfeign-
ed joy.i .s-gns lo. -.a
scw r
Tho things, however, for which
fhe Administration deserves the
highest credit in connection with
the Improvement in our financial
condition arc such as relate to the
carrying out Of Grants POLICY Of
honesty ard rctrenchment. When,
by his election, the country and the
world received assurance that the
financial hoIIar Of the Government
would he smaintained--wlien the
policy OF reputation was spurned
by the people, and Congress gave
its pledge to support the public
credit by paying the principle and
interest of the debt in gold-the
first great steps toward financial
redemption were taken. When
Grant announced his brief and sim
pie policy for remedying the confu-
sion Of our financial state
when he began to carry out
practically the programme he had
announced-it was evident that we
were about to take long stride to.
ward the settlement ofour troubles.
But years experience of this poll.
cy has gone far beyond public ex
pectation. To say that the debt
has been decreased during the year
of his administration a hundred
millions of dollars is, to represent
but small part of what has actually
hsen achieved. To say that during
the first half Of the current fiscal
year the revenues were increased, by
moro faithful collection, at the rate
oi thirty millions year over the
l.-"-io"s -"ar. dnes not indicate the
n.r,p' result gsined for the. public
4 .-Asury. lu say that the expenses
of the Government have been vastly
reduced and that the interest has
hern decreased by the diminution of
tre ,iebt, is oniy' to give hint of
IL. rctrenclm ant that has been car
RCD out. But these things have
told with immense effect on our f.
nancial condition, and 1t is to the
!. lniral'lc polirr and action Of the
a Administration tirat we owe the i'm
J rovement which is how going on to
i.s cuhsliumat-ua..
ADelnooratic paper recently took
the trouble T., attempt to show that
neither Grant nor his policy deserv-
ii any credit for the Frightening f.
ancial ont look. Bnt Grant and
80 -nlicyf deserve the very highest
credit. Suppose his policy had
b-en Of u different kind from what
it has been. Suppose he had COL
lccted the revenues in the negligent
manner Of which we had so much
previous experience-suppose the
u BIT had been increased as it was in
rhn latter part Of Jo!,nson's Admin
'tration -suppose the wastcful ex-
i'- r,itnres of Johnson's time had
.eeu eontinued-snppose we were
experimenting with the greenback
theory and the reputation fraud
does anybody suppose that our
bonds would now be at or near y
or that gold would be quoted at its
present price, or that our credit
would stand where it does abroad 2
To ask the question is to answcr it.
and to show the absurdity of the
reasoning Of the great Democratic
organ.
&C is not by the display of any
immense genius or OF any gigantic
aud mysterious plan that these
great results have been wrought. 1t
is by the carrying ont of few SIM
pie principles, the principles ofhon-
csty and economy, which President
Grant announced one year ago.
There can he no more benefcent
natural geniass than is found in the
power TO perceive aud enforcethese
principles. And having aided in
the election Of GrsAt, It gives us
lgiIc aud joy to be able, at the
close of the irst year Of his admin
isiration, to point the country to the
results that have already been
aehiexed--.to speak of the growth OF