Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1870-03-03

The canal, and placing it in good navl-
gabIe condition from the Ohio River to
The lakes, it would now be worth six
times the amount of their debt, and,
next to the New York and Erie Canal,
would be the most valuable work OF that
kind in the United States. But the
canal. from Terre Haute to Evansville.
was constructed soinperfectly that they
were never able to get, as [ am inform
ed. but two boats through 1T, and was
almost Immediately abandoned, and the
construction was only so far completed
as to enable them to say that they had
complied with their contract, and thus
claim the conveyance to them of ehe
lands--in which they succeeded. That
paIt of the debt placed upon the canal
was extinguised, 80 far as the State was
concerned, both in law and equity, and
they have no claim upon the people Of
the State, eff any kind whatever, Tor its
assumption. Should the Legislature OF
Indiana by any means be brought to
assume the payment of this debt. 1t
would be monstrous fraud upon the
people of the State. Not only did they
fail to comply with their contract in
the completion of the canal, but in con-
sequence of it, all the rest OF the Werk
which had been before constructed at
very great expense, been abandoned and
lost to the people of the Stately which
they have sustained very great injury.
4 more short-sighted and unfortunate
breach of faith was never committed
than that by which the people of Indi-
ana lost the benefit of that great work
and the holders of the canal stock lost
their security. To the assumption of
this debt the administration of Govern
or Baker and the Republican party will
be infiexibiy opposed,
ECONOMY IN NEXPENDITURES.
Economy is the word.
Retrenchment and reform are the or
der of the Administration and are being
pushed in every direction. Congress is
working diligently to reduce the expen-
ses of the Government to the lowest
point consistent with its efficient opera
tiOn, and the protection of the great in
terest committed to its care. During
the eleven months of its administration
great reforms have been effected IN
various ways. The amount of revenue
collected upon the same rates of taxa
ton have been largely increased, as
compared with an equal period under
the administration of Mr.. Johnson
During the first eleven months of this
Administration, the amount of Internal
Revenue collected was Sl65 ,534 ,6S1, be-
ing an increase of $40, ,966, 1886 over the
amount collected during the last eleven
months of Mr.. Johnson's administra-
tion. During the same period, the re-
venue received frsm customs was $780,
-33 845, being an increase over the
amount received from the same source
during the last eleven months of Mr..
T l., l. a
These reforms have been effected in less
than year; during which, much time
was taken up in the reorgan zatisn Of
the Treasury Department,-tur
out corrupt and inefficient officers and
pHtting in new ones, and in overhauling
and repairing the entire machinery of
collections. Much greater results may
be expected during the next twelve
months, when the main machinery
will be in successful operation, and hon
est and energetic officers, with full
knowledge Of their duties, shall faithful
ly and efficiently execute the revenue
laws. During the same perisd of eleven
months, as compared with the preced-
ing eleven months, the expenditures Of
the Government have been largely redu-
ced. The economy of an administration
must be judged by its actual expendi-
lures, and not by the estimates for aP-
preparation, which are generally made
by su 1ordinate officers, often carelessly
and always intended to be large enough.
Judged by this rule, the administration
of General Grant, if it shall go on as it
has begun, will, as believe, all things
considered, prove to be the most eco
nomical since that of John Quincy
Adams.
Thus far the President Il as resliZed the
most sanguine anticipationS Of his
friends, and although the tongue of cad
umny has been busy with his name,
and systematic efforts have been made
to take away from him the confidence
of the people, he stands higher to-day
in their admiration and affection than
ever before. His ability and integrity
will triumph over all the ISLANDERS of his
enemies, and carry him through the
ordeal to final success.
During the last eleven months of
Johnson's administration the expendi-
lures were 1927 ,067, ,2S4 90. During the
! first eleven months of Grants admins
tIation they were S271, 1927 ,303, ,09, being
a reduction of $50, 130, ,9S1 A.
The comparative account of the two
administrations thus far, made out for
an equal period, stands thus:
Reduction in expenditures. s55 39 9Sl A
| Increase of Internal Revenues..... l9,9j6,3s6 90
Increase in -Customs..... 9,7334l w
| Making an aggregate gain of SS4 ,844,
sos, A for Grants administration, which
is worth more than that many millions
of Democratic platforms and promises
| in fact, these latter constitute the most
worthless and deprecated currency
known to political history.
During the first eleven months of
General Grants administration the pub
lie debt has been paid off to the amount
of $50, $40 ,9Il, which has been done by
the application of the surplus revenues
to that purpose, while during the last
year of-Mr. Johnson's administration
tue debt was only reduced S5,659, ,7lS,
although the taxation was greater shan
it is now.
BY increase of revenue, resulting from
the honest execution of the laws, and
the reduction of the expenditures ef-
fected by retrenchment and economy,
Congress will be able to make very
considerable reduction of the taxes, and
that believe to be settled purpose be-
fore its adjournment; and it is not i'm
probable that this reduction may be
fully equal TO $50 ,000, 600. And the tax
es may be still further diminished by
reducing the amount which we shall
annually pay hereafter in the discharge
of the national debt. We intend to pay
the national debt, ev ,ry dollar of it, and
to liquidate some portion of it every
year; but l am opposed to paying it of
at the rate of 500. .000, 900 per annum.
70 pay it off at this rapid rate would
sound very well in foreign parts, but
would be an unnecessary oppression o
this generation. The next generation
will sustain the same relation TOWARD
the men who put down this Rebellion
that we do to the Fathers of the Revo
luton, and that it would be right, ir
iustica and morals to let them nav &