Smyrna times., 1870-08-17

people eXaSpcratcd by defeat and mad,lened
by their loss Of power
Great interests and powerful combinations
sought 50 to construct the South as to place
the power IN the hands of the late savehold-
ing class, and leave the helpless freedmen in
| the ahiect condition of practical serfdom. To
guard against both the Fourteenth and Fif-
teeuth Amendments were adopted. Thus the
rcbellious States were reconstructed on the
basis of equal rights and privileges.
Having achieved this grand work, having
passed through these three eras of its history,
the Republican party entering on its fourth
era, was summoned to deal with questions re-
ating to the national debt, the currency, finan-
ccs, and taxation, to reforms in the military,
naval, and Indian service, and whatever re-
naming burdens and legacics were left by :he
war This task dcvolves upon Grants ad
miniStration. As to how it is doing its work
We let the address speak
In the economy the services of thousands of
poyeeS both civil aud military have rndspescd with The
currency has been appreciated in value by and
millions Of dollars aud the national credit has been largely
strengthened.
Without increase in the subject to taxation
IN the rate OF taxation tho year ending
th Of June 81O nearly hundred and nno millions
OF dollars against less than three hundred
millions Tor tine ending 3Uth of june lG9 showing gain
OF nearly thirty eight millions dollars On the other luuI
the expenses OF the fiscal 1870 less those
N9 by than twenty nine million dollars thus showing
an Increased revenue and saving expenditures than
SIXTY millions OF dollars in the year Gen Grant
admins In the last &c months of Mr. Johusons .
nusaton, the receipts from internal revenue
were less than three hundred and seventywO millions Of dol
lars During the first II months OF Cen Grants amnsra-
ton they were more than four hundred and sixty mil
onS SHOWING increase nearly nuety-seyeu millions Of
dollars,
EpLcaus will remember that during the last two wears of
Air johnson administration he Republicans apon-
ed by M Lincoln ani others who adhered to the principles
the Republican and appointed Democrats where he
Go So The ch"f@cter of these appointments and
zn% influence which his opinions and conduct upon them
the loss millions Of dollars OF revenue
ia These years The large gain i'll tho collection mainly due
to the determined purpose OF Gen Grant to
an honest administration OF the appoint
ent OF Republicans to Office earnestly devoted his
| LOulc,i policy.
During the recent session Congress have been re-
duccdmore than SjO0C The have been IRON
transportation by canals and railways from sales by dealers
manufacturers The income has been to twoan
ahat cent: ali incomes OOO and it is to Npir,
at the end OF two years The has beeu
p to u cents pound coffee cents and tn,
tax ON and mOasses has been reduced i'll the
SIztOJOOu By this reduction the taxation til,
relieved OF burdens amounting millions The funding bill
is important financial measure. which conempates til,
saving OF interest the public debt by exchange vi
standing six buds lower rate Of inter
est 10 The amount OF tweny-six millions and halt year
Whites reduction in taxes transfers the burden the debt
from to another from generation to another
reduction In the rate Sf interest saving to the
country not only for the generation for all time
And yet these important and benifcent
tended to tighten the public burdens little
and support from the Democratic party
tes Tor the war its losses its expenditures debts aul
| its taxation, feartuly large.