Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1870-04-06
parsrDrsr GRANTS ADnrNrsrRAr1oN,

had more Trying issues 10 uetertniie silce
the beginning Of the. war than any other
ever in control of the powers Of our Gov
eminent. It's record through the perilous
decade just closed is one of the grandest
presented in history. We need not recite
its achievements, for they are indelibly inn
pressed on the memory Of every American.
The more exciting and interesting ques-
tions growing out of the reconstruction of
the rebel States had practically been settled
before President Grant assumed his Execu-
tive duties. There were other questions,
however, perhaps even more important,
certainly more difficult, which his Admin
istration found at his Inauguration de-
manding immediate consideration. Those
questions affected directly every interest
| in the country, and were of nature de-
manding the highest order of statesman
ship. Trifiing, experimental administra-
| ton would have involved the country in
confusion and irretrievable ruin. The order
of craftsmanship demanded was supplied,
| and we think the results that have fol-
lowed challenge comparison and silence
criticism.
The close of our gigantic civil war left
our people burdened with debt of over
s., 000, 100000. The business Of the country
was extended and expanded beyond its ie-
Ultimate bounds by the extraordinary infia-
| ton of the currency issued by authority
of Congress. The Government, for the
four years Immediately succeeding the war,
was administered by an ambitious, self
willed man, who studied harder how to
force upon the country his own peculiar
policy of reconstruction, than how he
| could best restore tranquility and prosperi-
| ty to disturbed and embarrassed people.
The offices of the country were, in very
many instances, filed by incompetent and
dishonest men. The heavy taxes imposed
and collected were misapplied, and demora-
lization and corruption permeated the de-
partments of his Administration.
Under such circumstances, President
Grant assumed the onerous and trying du-
ties devolving upon him. His ambition
was to restore integrity and capacity to
every department within his control, and
to give authority only to men who would
faithfully and jealousy carry out the plat
form upon which he was elected-Re-
trenchment and Reform. The results Of
his first years work show conclusively that
his ambition has been realized, and we ac-
cept them as sufficient guaranty for the
| future. A year of retrenchment and re-
form has resulted in reducing the public
debt 500 900, 900, with gold balance in
the Treasury of over 500 900, 900. The pre-
MUM on gold has steadily fallen from 1911
to114, and there is: every reason to believe
that before many months the financial
problem which for five years has promised
so much trouble will solve itself by re-
sumption. That these great results are the
fruits of the strictest integrity and greatest
prudence in the management of public af-
fairs is conclusively established by the fact
that the public revenues have been largely
increased under substantially the same
rates Of taxation collected by the preceding
Administration, and the public expendi-
lures have been reduced under the same
| demands
AS additional proof of this it is shown
that without an increase of one cent in the
rates of taxation, the revenue under
Grants administration has increased $685.
900, 000-i. e. from $4,000 to 1896 0O0, 900.
Again, with duty of 50 per gallon on
whisky, Mr.. johnson collected during the
last half of the fiscal year, sl3,5O 900,
while with the tax reduced to 65 cents per
gallon, Gen. Grant has collected S24, $780,
900, an increase of S11 100000.
AS other and important results of
one years work, we recite the great APP
probation of the Government credit, as
shown by the facts that the bonds of 1881
are above par in gold, and that the pur-
chasing power of its currency is,increased !;
the adoption of the Fifteenth Amendment,
through which equal political rights are
assured to all in the land the large reduce
ton in the expenses of our army and navy;
the radical changes in the Indian policy,
which, If encouraged by Congress, will give
us an enduring peace upon just and hui
name principles the reduction of one-half
: in the rates of ocean postage; and again,
the dignifed, peaceful footing on which
our foreign relations stand. AS the crown
ing triumph to all these results, the people,
through the mediation of President Grant,
will soon find themselves relieved in a
great measure from the heavy burden of
taxation which has for some years weighed
uDOn them for in raananaa IN fba .ooo,.,