Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1870-09-28
FACTS FOR THE PEOPLE,


graphic exposure Of the whole fnan-
cial policy Of the Radical party Mr.
Delmar dwclls In facts and figures,
which cannot be contradicted, and in.
hicts hard blows upon tho party,
which, after robbing the people, at.
tempts to cheat and deceive them
The first bubble, which Mr.. Delmar
pricks, is the claim put forth by the
Radical orators and papers, that the
party in power at tho present time,
has succeeded in paying off a portion
of the public debt, and so reducing it,,
and that, too, in manner as if it
were the first administration to make
payment and reduction To this claim
Mr.. Delmar replies;
fAs to its claim IN respect to the
payment of the public debt, | have TO
reply,in tbs first place, that n gradual
reduction of the public debt has been
going on ever since the fiscal year
1865 6, A. the close of that year
(July, 1860 the public debt (And 10y
this term | mean just what the nd
ministration means, viz : the 1riuca
debt of the government; the sum Of
bonds and Treasury notes, actually
outstanding and unpaid) amounted to
S2,S73, ,000,O 600, as is stated in the last
annual report Of the Secretary Of the
Treasury, ls69, page 3l7. On the
lst of July, 1870, this debt, calculated
by the same method and upon the
authority of the last (July) monthly
debt statement Of the Secretary
of Treasury, was s2,544 ,000,000
This shows a reduction of S239, 600.
600. OF this amount there was
paid off in 1867 the sum of s9l ,0O0,.
600; and in 1868 the further sum
of s56,OOO,OOOj altogether sl47 900,
600. The year 1sG7.s was the last
complete fiscal year of the johnson
MoCulloch Administration.
"During the following year, 1868 8,
there was no debt paid of, but on the
contrary the debt was increased $40.
100000. Mr. Boutwell, did indeed
claim that he had reduced tho debt
somewhatj and this he attempted to
demonstrate by means Of an arithmet.
ical comparison, in which the Pacific
Railroad bonds, the accured interest
made on all the other bonds, and the
cash in the Treasury, were so arrang
ed as to make it so appear. But it
was not the fact, and the protence set
up was atlcrward dropped when his
annual report on the Finances was
transmitted to Congress. The pres.
ent method of preparing the monthly
debt statements involves similar rep.
rehousible practice.
"During the fiscal year 1S69.7O, there
was paid off the debt sll2, ,000, ,0O0.-
Allowing for the 20,OO0,O00 Of in.
crease during the previous year,
the net result is s92, 100000 paid off
under Grant. Boutwell, against SLY.
100000 paid of under johnson. Nc.
Culloch."
So much for the claim Of fhaving FIRST
reduced the public debt. When it is
stated that even the amount that was
paid off this year was in consequence
of laws Of taxation and appropriation
which were enacted under the John.
SON MeCulloch administration, and
could not possibly have been in con.
sequence Of any measures enacted or
practiscd since that time; the claim
of the administration is shown not
only to be bascless as TO the merit of
having brought about the first reduc.
ton of the debt, but baseless as to the
merit Of having brought it about at all.
Mr. Delmar then proceeds to die.
sect the assertion of the Radicals that
they have increased the resources, and
and at tho same time lowered the
taxes. On these points be says:
"Thc other claim of the Admins
tration that tho revenues have been
increased while the taxes have been
diminished, might be disposed of Just
as summarily as that relative to the
debt. For if the revenues have been
increased in consequence of a lower.
ing OF the rates of taxation, they
could not have been increased in con.
sequence Of any lowering oft rates
under tho present administration.
seeing that the only law in which the
rates bad been lowered, and which
has been enacted since the Grant ad.
ministration, does not 20 into effect
until sometime next fall. If the rev.
enues have increased in consequences
Of the tax laws that occasionod sueb
increase Of revenue, II must.be credit.
cd to President Johnson, and not to
President Grant 1t cannot seriously
be meant that the assumed increase
Of revenue is the cause, and lower
taxes the effect; in other words that
the taxes have been lowered IN con
sequence Of the increase Of tho reye.
nues. For if such be the case. and
the increased revenues are due as has
been shown, not to any measures on.
acted under Grants administration
but to the measures enacted under
Johnson's administration, then the
present lowering of rates is to be I
credited TO johnson. And oven tbis |