The Evansville journal. [volume] (Evansville, Ind.) 1866-1870, 1870-02-24

| meDb. II consequence or the trans
Ter TO them Of the Wabash and Erie
| Canal, and of some 500 ono acres Of
land, they agreed to complete the ca
ual from feire Haute to Evansville,
and maintain it in good navigable
| condition, and to look to it exclusive
~ for the payment Of the interest up
on, and final redemption of One-half
of their bonds, which were 10 be sur
rendered and new stocks issued
therefor, in conformity to the ar
rangemeDt. Had their contract been
carried out in good faith. by the com
pletion of the canal, and placing it
10 good nav gable 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 valua-
| BILE work of that kind Ia the United
States. But the canal, from Terre
Haute to Evansville, was constructed
so imperfectly that they were never
able to get, as I am informed, but two
boats through it, and 1t was almost
| Immediately abandoned, and the con-
struction was only so far completed as
I to enable them to say they had COM
| piled with their contract, and thus
| claim the conveyance to them OF the
lands, in which they succeeded. That
part Of the debt placed upon the canal
was extinguished, so far as the State
was concerned, both in law aud equity;
and they have no claim upon the peO
pie of the State, of any kind whateV-
err, for its assumption. Should the
Legislature of Indiana by any means
be brought to assume the payment OF
this debt, it would be a monstrous
fraud upon the people Of the. Not
only did they fail TO comply with their
contract In the completion of the ca.
nal, but ia consequence of it all the
rest Of the work which had been be-
fore constructed at very great expense,
has, to great extent, been abandoned
and lost to the people Of the State; by
which they have sustained very great
! injury. A more short-sighted and I'M
fortunate breach of faith was never
: committed, than that by which the
people of Indiana lost the benefit OF
? that great work, and the holders oil
, the canal stocks lost their security
} To the assumption of this debt the
: administration of Gov. Baker and
4 the Republican party will be inhexibly
t, opposed.
ECONOMY III EXPENDITURES.
, Economy is the word Retrench.
ment and reform are the order Of the
Administration and are being pushed
In every direction. Congress Is work.
ing diligently to reduce the expenses
Of the Government TO the lowest
point consistent with its efficient ope.
ration and the protection of the great
interests committed to its care. Dur.
ing the eleven months Of its Admin.
istration great reforms have beer
effected in various ways. The amount
of revenue collected upon the same
rates Of taxation have been largely
J increased as con- pared with an equal
: period under the Administration oil
Mr.. J ohnson. During the first eleven
) months of this Administration, the
amount of internal revenue collected
was one hundred and sixty five mil
lion three hundred and thirty four
thousand six hundred and eighty one
dollars, being an increase of nineteen
million nine hundred and sixty-six
. thousand three hundred and eighty
: six dollars over the amount collected
! during the last eleven months of Mr..
Johnson's Administration. During
the same period the revenue received
from customs was one hundred and
seventy millions two hundred and
thirty three thousand eight hundred
and forty-fve dollars, being an increase
over the amount received from the
same source during the last eleven
months of Mr., Johnson administra-
tiion of S9,738, AL. These reforms
have been effected in less than year,
during which much time was taken
up in the reorganization OF the Treas
ury Department, putting out corrupt
and inefficient officers and putting n
new ones, and in overhauling and re-
pairing the entire machinery OF all
sections. Much greater results may
be expected during the next twelve
mOatns, when the new machinery will
be in successful operation, and honest
and energetic officers, with a full
knowledge of their duties, shall faith
fully and efficiently execute the reve-
nue. laws. During the same period of
eleven months, as compared with the
preceding eleven months, the expen-
ditures of the Government have been
2 largely reduced. The economy Of an
administration must be judged by its
annual expenditures, and not by the
estimates for appropriations, which
are generally made by subordinate
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 il
has begun, will, as l believe, all things
considered, prove to be the most eco.
nomical since that of John Quincy
Adams.
Thus far the President has realized
the most sanguine anticipations OF
his friends, and although the tongue
ofcalumny has been busy with his
} name, and systematic efforts have
beea made to take away from him the
, confidence of the people. he stands
, higher 10 day In their admiration and
; affection than ever before. His abili-
ty and integrity will triumph over all
! the SANDERS of his enemies, aud carry
him safely through the ordeal to final
success.
During the last eleven months OF
Johnson's administration, the ex-
penditures were 1921, 067, 264 SO. Dur
: ing the first eleven months of Grants
administration they were $27I ,927,
BOB 09; being reduction of 500, 49,
931 Al.
The comparative account of the two
administrations thus far up for an
equal period, will stand thus:
Reduction in xpeuditures.......s551S 9 ,9Sl a
Increase ofinternaI revenue..... Is. 1856, 1856 OF
Increase In cnstons-..-....--..-.---. s,75S44I %
Making an aggregate gain of $50 sl4 sos A
for Grants administration, which is