Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1871-09-22
WHAT THE REPUBLICAN PARTY HAS
DONE. ...E
Reasons for Its Victories Everywhere.

Reasons for Its Victories Everywhere.
We gave yesterday an extract from SEN
ator Morton's speech, showing what the
Democratic party proposes to do if restored
to power. We propose now to show what
the Republican party has done, as proof
of what it will do IN the future, and as
good reasons why it should be continued
in power another four years.
The reasons for the brilliant victories in
California, Maine, Colorado, Montana and
Connecticut are as follows:
1st. That in the first two years and one
month of the administration of President
Grant, there has been an actual reduction
of the public debt to the amount of S215,-
765, ,663.74
Cd. That the annual interest charge to
the people has, within the same period,
been reduced in the sum of S12, ,062, ,997. .96-
consequently, affording permanent annual
relief from taxation to that amount.
Sd. That the net gold discount actually
realized to the public Treasury on the pur-
chase of bonds, by which purchase the
debt has been mainly reduced, is $14, $751;
83S.56.
4th. That, in consequence of the meas
ures and policy of the Republican Con-
gress and Administration, the public credit,
although greatly disturbed by the war, adj
vanced during the period from the early
part of the year 1861 (the close of the DEM
ocratic administration of President Bu-
ohanan) to March 1st, 1869-reaching an
aggregate appreciation, as applied to the
then existing values and principal of the
public debt, of three hundred and sixty
five millions of dollars; and, by the still
more efficient administration of President
Grant, the public credit as referred to the
1oOU existing values and debt, (April 1st,
1871, J has been further advanced, within a
little more than two years, making an ap-
probation during this short PERIOD as ap-
plicable to the now existing debt, of six
hundred and fifteen millions of dollars !;
also showing that the appreciation since
the close of thelast Democratic administra-
ton early in 1861, applicable to the existing
values and debt, is eight hundred and sixty
five millions of dollars.
5th Within the period from March 4
1869, to April l, 1871, the appreciation Of
the National and National Bank currency
was eighteen (1S) per cent, making an ag-
gregate appreciation of $128,00O, 600 which
has accrued to the people in consequence
of the advancement of the public credit by
the Republican policy.
9Th. Reduction of annual expenditures
for the fiscal year 1S69-70 as compared with
the last year of JOhDson'S administration,
$56, ,532, ,193.07. AS compared with the last
year of Johnson's administration, upon the
same basis, 36 cents less, per capita, esti-
mating the population at 10000, 900, MAX
ing an annual saving of S14, 100000.
7th. The internal taxes and customs
have, since the close of the war for the
suppression of the rebellion, been reduced
by the amount per annum of S2ol, ,S40 81.
Sth. The postal service has been extend
ed and increased in efficiency, and its COM
parative expenditures materially reduced.
9th. That by comprehensive and we'll
adapted measures and efficient and honest
administration, the Republican party has
carried the country safely through gigan-
tic war, subdued rebellion, restored the in
surgent States to their normal places with
in the Union, emancipated labor, estab-
lished citizenship, and guaranteed its
rights and privileges by constitutional and
| legislative enactment. And has, at the
] same time, advanced the material pros
perity of the country and people, by open
| Ing up the interior of the continent, ap-
prOpriating its vast plains and mountains
and valleys to the free occupation of the
citizen by providing a national currency;
by maintaining and advancing the nation
al honor and credit and that, by the eff
ficient collection and honost application of
the revenues, the rapid and appropriate re-
duction of taxation, industry has been
stimulated and relieved, enterprise en-
couraged, and the country, without revul-
sion or disaster in monetary affairs, has
safely passed through the period of war
and the disturbances it engendered to a
period of profound peace and solid and
universal prosperity result unparalleled
in history, and crowning honor to the
Republican party, which neither time nor
circumstances can tarnish or efface.