Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1870-08-19
THE PRESIDENTS FISCAL Sue
CESS

General Grant, during the war. proved
himself to be the man to conquer the
rebellion. President Grant. for the last
seventeen months, has given equal proof
hat he is the man TO conquer the public
iebt During the last year of Johnson
administration several millions uf dol
lars were added to this debt; and yet
during the first year of Grants admins
ration, and without any change of cir
-umstances except in the policy Of the
Government, the decrease Of the public
debt amounted to $50, ,1S4, ,g63 &4,
The decrease since March Ist, 1870 Is
$50, ,OOA, ,OOE Ia, or a monthly aver
age Of SG3 500, soc 10 for the last
ive months The total dCCreasa. since
General Grant came into office, nap 90
August Tst, 1870. a period Of seventeen
months, amounts to 8Ao6s Aaas-
aS4 or, or a monthly average Of 3d.
lSG ,63l 35 for the whole period.
These figures tell a story Of reductions
in the public debt not only gratifying 90
the people. but also rejecting the highest
credit upon the administration Of Prcsi-
dent Grant. He pledged himself, when
accepting the nomination Of the ttepub-
lican party. and also in his inaugural adj
dress, that one Of the fundamental prin-
most rigid economy in the public eNpend-
itures. Combined with a faithful collection
/. Of the revenues of the Government This
pledge the President has redeemed 90
the letter, as conclusively shown by the
above figures. Whatever mistakes he
may have committed in other respects
lii would be wonderful If he had not
made some mistakesl, the great fiscal
success of his administration is one of
those demonstrated facts which notcven
the most partisan Democrat can gainsay.
Congress at the last session reduced
the national taxes TO the amount 0i about
seventy-six millions Of dollars. We can
not. therefore. expect for the coming
year so large a monthly decrease ot the
debt vet with the rate Of taxation now
fixed. the Government will have q sur
plus Of at least iifty millions 90 be APP
piled to this purpose. This wili continue
the debt-paying policy with sglneient
rapidity fully 20 maintain our credit we
regard the tax reduction established 10y
Congress as eminently wise, and COM
plain only Of its failure to let the income
tax die by its own limitation. The i'm
dustry Of the country needed relief from
tax burdens, the general sentiment OF
the people demanded it, and the large
surplus revenue Of the Government
showed il to be practicable without any
fiscal embarrassment
The Democrats are predicting great
popular reaction against the President
in the elections which are 90 occur this
fan. The political heavens give no signs
of any such result and we venture TO
predict that these partisan soothsaycrs
will find themselves entirely mistaken in
the result. The great body Of The peo-
pie who chose General Grant On the.r
President see nothing, and can SEE noln-
ing, in his official conduct 60 change
their opinions but do see mueh 20 som
firm the wisdom of their enoi1J,
eral Grant viii be indorsed oy tng leo-
Die IN the next Congressman elacllon-
1be Democratic party VIII nna the Peu-
ole not vet quite ready 20 put tne N@lon-
III Government into its hands. hc
narty that saved the Union is very inr
rom being out Of date. The President,
whose administration has achieved auch
fiscal triumphs. is sull the man OF tn1
future.-M y LGRe6snaeHE