Knoxville weekly chronicle. [volume] (Knoxville, Tenn.) 1870-1875, 1870-09-21
PRESIDENT GRANTS FINANCIAL RECORD.

We have repeatedly furnished statements
of the rapid decrease of the public debt un-
der the present economical administration
of President Grant. An exhibit just issued
from the Treasury Department shows
continuation of the heavy reduction even
under the great decrease in taxation pro-
vided for by Congress during last session.
The exhibit shows that for the eighteen
months of President Grants adminlstra-
ton, ending on LIST September instant, the
increase in the receipts of the Government
over the receipts for the eighteen months
preceding - under Andrew johnson -
amounted to SS7 ,2l3 1880. This increase,
it should be remembered, was effected un-
der a decrease in rates of taxation. The
increase, therefore, was the resultof more
efficient and honest system of collecting
our revenues.
While this increase in receipts was going
on, corresponding heavy decrease in the
expenditures Of the Government was made
further proof of a more honest and eff
cient administration. This decrease for
the same period, compared with like pc
riod of Johnson's administration, amount
ed to So, S53, 060.77.
The result OF thoroughly honest adj
ministration, in the increase of receipts
and decrease in expenditures, is a saving
to the country, in eighteen months, of
Sl70, 066, S26.37.
But the New York World, the brains Of
the Democratic press of the country has
found what seems to it a satisfactory an
swer to all this proof of the integrity of
Gen. Grants administration. 1t says that
" from the 1st day of April 1865, to the LIST
day of January, 1865, we paid out of the
Public Treasury 81 ,552, OOO, 900 of money"
I says further that over and above the
expenses of the Government upon a peace
basis, we paid in that time out of the sum
first named, 81 ,066, 100000, which was "A
saving of that much, az otherwise it would
have been added to our debt. We admit
the force of all this, but it is easily eX-
planned. Mr.. johnson paid the large sum
mentioned, but he had extraordinary re-
sources. The rates of taxation were much
higher then than they have been under
Grant, and the income Of the Government
from many sources much greater than now.
OF course Johnson's exhibit OF expendi-
lures are correspondence greater, and it is
just here that we find fault. He had greater
resources than Grant, but he made less use
of them. He might have lessened his ex
penditures more and shown a better ex.
hibit on the public debt statements. The
less said about the financial operations o.
Johnson's Administration the better. The
plain answer to the Worlds "braggart .
article, so boldly republished by the Dem
ocratic press of the country, is that John.
sons expenditures were always about equd
to his receipts, while with Grant the ex.
penditures are reduced and receipts in.
creased. johnson spent large sums, anC
prevented an increase of the public debt
but ne had, as we snid before, immense re
sources with which to do it. 1t is no test
therefore, of the success or integrity of hi,
Administration. The comparisons W.
have made heretofore are fairer tesla, anC
we suggest to the Democracy that the,
will be doing their party efficient servir
when they explain away their force an,
effect.
The facts, as we have shown them, ar
that Grant with decreased resources. j
fast reducing our public debt. He is dom
this wholly by honestly collecting our re
sources and economically eXpending them
Fhese are facts which are satisfactory t
the people, if they are not to the Demo
cratic politicians.