The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1870-03-17
A BATCH or LEES.

the Pittsburg GGzetfe an article which
attempts to bolster up the Grant ad-
minislr8tion witha string Of falshooods
that would have done honor to the
baron Munchaasen himself
First, says tho Gqsette. the adHinis-
trntion, ''has paid off lightweight
millions of dollars Of the public debt. "
We need but ask the reader TO ccnl-
pare the last monthly statement Of the
debt made by Secretary AIcCulloch
with that Of Secretary Boutwell, on
March /, 1870, to prove the other fatsi-
t. Of this assertion. Secretary McCul-
lorh always estimated the Pacific Rail-
road Bonds as part of the public debt,
but Mr.. 30 ltweIl omils the whole "a
mount Of these bonds from his state
ment. The sum of these bonds, for
which the United States Government
is responsible, is almost as great a. the
amount Of reduction of the debt claim
ed by the article in the Pittsburg pa
per. This is certainly new way Of
paying old debts, and the plan ought
to be copyrighted by the radical Sec
retary of the Treasury. Besides Bout
well counts as cash the bonds and pa
per currency redeemed by 'he Gov
ernment which are utterly worthless uH.
less re-issued, and they would become
again a part Of the public debt. An
individual might as well count his
own promissory notes, after redemp-
tion, as SO much cash in hand! When
the redeemed bonds and the currency
In the treasury are eliminated from the
cash assets claimed By Mr.. Boutwell,.
it is found that instead Of decreasing,
the public debt has really increased a.
62,Hffly tlc0 millions since Grants oc-
cession to tie Presidency.
Another assertion in the article re-
ferred to, namely, that 1.-The admins
tration has largely decreased the pub
lie expenditures, +" &c, Is proved false
by the facts and figures contained in
the speech recently made in Congress
by Mr.. Dawes, one Of the leaders Of
the republican party. He affirmed
and proved by the official records that
the estimates of Grants administra-
tion of the expenses of the government
for the next fiscal year are nearly fifty
millions greater than the expenditures
for the last year of Johnoon's admins
tration.
That the administration has "advan-
ced the value of our deprecated cur
rency from 30 to 1.l5," is ridiculous
~ false. The administration has had
NO more to do with the appreciation of
the currency than the man in the
moon. The increase in the produc-
tion ofcotton during the last year, has
operated to retain gold in this coun-
try, that great staple having taken the
place Of coin in balancing our accounts
with foreign countries. II the insane
hatred of tho South which ranked
in the hearts Of the radical leaders, had
not conceived and put in practice a
plan of reconstruction" which took
the negroes from the cotton-fields and
placed them in the arena IF politics,
the cotton crops of the last five years
would have been large enough to turn
the balance of trade in favor Of the u
nited States, and to-day, instead of the
currency fiuctuating from LIZ TO l.l5,
it would be at par. So much for what
King Cotton, and not the adminiatTa-
ton has done for the appreciation of
thecurrency.
As to the other statements of the ar
ticIe, they are ofa piece with those 20
which we have alluded. There is but
one truthful sentence in the whole
thing, that in which it IS asserted that
the administration has completed the
radical reconstruction of all the South
ern State governments on ''Republi-
can" principles. That is certainly in
disputaple. At a cost of hundreds of
millions of dollars 70 the people of the
North, he ignorant, degraded aud vi
cious negroes of the South have been
given control Of the State governments
in that section; white American citi-
zens have been disfrancbiaed and
made the political slaves Of the blacks;
and negro preacher who embezzled
the funds of his church in Kansas has
been elected to The United States Sen
ate. Yes, the Southern State govern
IN ,nts have been reconstructed on Re
publican principles.
@a3@zz4r.~4auas-=a~-u=~-=-=
TIE democrats OF the New York
legislature have smashed the ring aud
the people OF New York city will now
be given an honest charter. The or-
pressive and odiuus commissions inyc n