Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1871-08-15
The National Finances.

hS ANotAOudl Il luuuCGSs
We have carefully examined a IRE
view of the Financial Measures and
Policy Of the Republican Administers
ton" commencing with the period
when the Executive and Legislative
Departments ofthe Government were
brought into harmonious relations by
the Inauguration of President Grant.
1t is a complete exhibit of our nation
al finances based on official returns,
and must convince the reader of the
faithfulness and wisdom of those in
charge of nat onal affairs.
Every branch of the public service
is SO intimately and inseparably con-
nected with the great subjects of
finance and taxation, that administra-
tions and parties must, for the pres
ent, BIO judged by the wisdom and
fidelity displayed in providing and
applying the means for the mainten-
ance OF the Government and the dis.
charge of its obligations. The steady
appreciation Of popular confidence
and national credit since the access
ion Of the Republican party to power
in 1861, Notwithstanding the disturb
anccs incident to gigantic war and
the factious opposition of one of
the great political parties which per-
wade the country, affords the most in
dubitable evidence of the wisdom,
fidelity, and efficiency of Republican
statesmen-evdence, which has both
satisfied the people of the United
States and carried conviction to even
unwilling financiers and hostile inter-
ests in other nations. 1t remains for
the people TO say whether the men
and measures which have produced
such boniicent results are, lightly, to
be exchanged for the domination
which promises nothing but practical
reputation Of the national obliga-
tons, and blind worship Of the mem
cries Of tLrice-dofeatod political
party This review, which is bas-
ed on official returns from the sew
eral departments Of the Government,
shows
That in the first two years and one
month Of the administration of Presi-
dent Grant there has been an actual
reduction of tho public debt to the
amount of $215, 7G5, 663,74.
That the annual interest charge to
the people has, within the same period,
boen reduced in the sum Of S12,062,-
go, 96-consequently, affording per-
manent annual relief from taxation
to that amount.
That the net gold discount actually
realized to- the public Treasury on
the purchase Of bonds, by which pur-
chase the debt has been mainly re-
duced, is s14, 5s5, S38.56.
That in consequence of the meas
ures and policy Of the Republican
Congress, and Administration, the
public credit, although greatly dis
turbed by the war, advanced during
the period from the early part of the
year 1861 (the close Of the Democrat
ic administration of President Buch-
anan) to March 1st, 1869 reaching
an aggregate appreciation, as applied
to the then existing values and prin-
cipal of the public debt, of three hun
dred aud sixty-fve millions of doll
lars and, by the still more efficient
administration Of President Grant,
the public credit, as referred to the
nor existing values and debt, april
1st, 1871 has been further advanced,
within little more than two years,
making an appreciation during this
short period, as applicable to the nor
existing debt, Of ak hundred and ff-
teen millions of dollars also showing
that the appreciation since the close
Of the last Democratic administration
early in 1861, applicable to the exist
ing values and debt is eight hundred
and sixty-fve millions of dollars.
That within the period from March,
4th, 1860, to April lst, 1871, the ap.
probation Of the National and Nation
al Bank currency was twelve (12)
per cent, making an aggregate ap-
probation of $85 100000 which has
occurred to the people IN consequence
of the public credit by the Republican
policy,
That the reduction of annual ex~
penditnres for tho fiscal year 1869-70
as compared with the last year of
Johnson's administration, $50, 532,-
1897 As compared with the last
year of Buchanans administration,
upon the Same basis, 36 cents less,
per capital, estimating the population
$40 600 600, making an annual saving
of S14, 100000.
That the internal taxes and GUS
toms duties have, since the close of
the war for the suppression of the re.
bellion, been reduced by the amount
per annum of 1851, S5S, 827, 33.
That the postal service has been
extended and increased in efficiency,
and its comparative expenditures
materially reduced