The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1871-08-31
DAILY PRESS.
PORTLAND.
THURSDAY, AUGUST 81, 1871


IHUhSDAY, AUGUST 81, 1871
| Mr.. Delans's speech
AT sANDUsKY, OHIO, THURSDAY EVENING.
Secretary 'Delano gave his great speech on
the national finances at Sandusky, on the
same evening that Butler was blowing his
trumpet at Springfield. In the New York
newspapers we find long reports of the San
dusky speech, from which we will cite the
main facts presented. We omit what was
said Of foreign affairs, and consider chiefly his
! condensed exhibit of our revenues and the f.
nancial result of Grants administration.
Some of Mr.. Delano's figures are tolerably
familiar to the public, but they will bear re-
peating, while many of the facts are new and
racy. For example, the Democrats, last
Marcn' guided, perhaps, by the bewildering
Deimar, Published statement that the gov
ernment had lost $25 100000 by the defalca-
ton OF Republican revenue collectors. This
gross exaggeration arose partly from the in
capacity OF the reporter to understand the
| difference between uncollected accounts and
defalcatioAs. The revenue officers, are. of
course, originally charged with all the taxes
they have to collect, and are credited with all
payments. But millions of dollars in the ag-
gregate prove uncollectable, from various
causes. Their accounts are, therefore, fire.
quently charged with large sums not collecta-
BILE, and for which the treasury department
does not expect nor desire to hold them re-
sponsible. On final settlement they are cred
tied with all taxes uncollectable, and their liza
bility, which appeared large on the books of
the treasury, in fact may have been nothing.
From recent official report it appears that
the cash balances against collectors reach the
exact sum of s267S. .S97, less than one sixth
of one per cent. OF the internal revenue col
lections; and these balances are secured by
sufficient bonds in penalties amounting to
100000. The truth, then, only lacks
$2,5OO,OOO of the Democratic story. But who
are these defaulteIs, and whose administrative
service did they performf The balances are
charged against collectors. during their official
term as follows:
To collectors appointed by Pres't Lincoln $500 O5s
10 collectors appointed by PIes't JObns0n1 813 1856
10 collectors appointed by Pres't Grant 64,5si
OF the yearly excise of $1S5, 600, 900 gather
ed by President Grants collectors there re-
main but $64,5SI not paid over to the treas
ury.
Two things arehere to be 'neted-first, that
the whole balances of Lincoln's and Grants
six years are together but little more than
half cf Johnson's four years; and secondly,
that OF the Johnsonian defaulters many were
Democrats, or those mongrels that were bred
between the two great parties in the disgrace
full period of Johuson's afHliation with the
Democrats. Again, Mr.. Delano contrasts
democratic with republican economy by qui
city stating that the New York city and coun-
| ty debt increased from "a IL millions in 1859
| to "a IL millions ON the first OF last May /:
while the national debt in the same time was
diminished more than 5000, 100000 And he
enforces this parallel by showing how costly is
the democratic rule in Kentucky.
To prove the improved condition of the ma
tional credit, Mr.. Delano cites the figures to
show how, on the first of March, 1859, gold
was quoted at 131 to 1872 1-s, and United
States five-twenty bonds of 1862, at 11S to
11S IL, or about thirteen cents below the rul-
ing quotations for gold. On the first of
March, 1870, gold was quoted at lis SO, and
the same class of bonds at ia IA to ia IL
or one per cent. only below the price of gold.
On the 1st of March, 1871, gold was quoted at
| IN and the same bonds at 112 IA to 112 s
being then really at q premium of 1. 4to IS 8
in gold, and that is substantially the condition
of American finance and national securities
| to-day. The favorable change has been brought
about, he argues, by the financial policy OF
government, by enconomy in administration,
and steady diminution of the debt. Up to
August l, this diminution had amounted, in
two years and five months to $242, ,12S, ,4c1,
and if question is made how this has been
done, under large reductiun in taxation, the
answer is ready. 1t has been done by strict
ly enforcing the laws and reducing the pub
lie expenditures, which, in the fist instance
has increased the receipts eighty-fve millions
and secondly, has saved to the treasury one
hundred and twenty-six millions, while, at
the same time, taxes that would have pro
dnced $80,OOOOOO year have been taken of.
Meanwhile, the revenue from imports, al
though the tariff has been reduced a little,
shows an increase in the first two years of
Gen. Grants administration, over the last
two of Johnson's of $59,926,S72. In regard to
internal revenue Mr. Delano makes these
striking statements:
The present administration found the pub.
lie credit impaired by the dishonesty and in.
capacity which pervaded the public service
The public debt was rather increasing than di
minishing, with reduction of receipts from
internal taxation. During the first twelve
months of the administration, the receipts
from internal revenue were $157, ,457, ,73S, and
duriug the first fiscal year $175, ,285, 1857, not
withstanding the reductions already stated.
Without reduction, the amount of receipts
from internal sources, on this basis, wonld
have been $263 ,235, 1857. The tax on spirit:
during the fiscal year 1868, of the last admin
istratlon, yielded only $1SOO0,0OO. The frs
year of the present administration there wa
collected and paid into the treasury from th,
same source $55 100000, an increase of $37,
100000. and this on reduction of seventy
| i've per cent of the rate to be collected. The
tax on tobacco at forty cents per pound, dur.
ing the last administration, yielded but SIS,
100000 per annm, while under the present
administration, with the tax rednced to thirty
two cents, and sixteen cents, at an average
| OF twenty-five cents 1t has placed in the treas
ury over $31 100000 yearly. Thus you will
observe that the $7S,O00,000 exempted from
articles previously taxed has been recovered
and its loss counterbaanced by faithfully en-
| forcing the revenue laws and honestly ac
counting for the money collected. Observe
further, that in 1868, in the last adminstra
tion, the expenses of the internal revenue bu
reau were $S,3S7, ,793, while for the first isca
year of this administration the same expense:
| were reduced to $5,916 ,44O, making a pros.
reduction of the cost of collecting the revenue
of $2,471 1882.
We conuot better close this array of fig
ures than by giving the receipts and expendi
lures of the two years preceding Grant, and
the first two of his administration, taker
from the official statement Of the secretary Of
ihe treasury, dated April 5, 1S7l:-
Total net receipts for two years ending
March 1, 1871, 74s, sss, 40
: Showing an increase of revenue for the
istration, OF - $s4, ,s94, ,0i
The expenditures from March 1, 1867, to
March 1869 were $3.50, 0t3, ,759 I
From March l. 1863, to March 1, 1871 s2s.sa2, 81
snt t sdmaistration Of '"''' VI si2s, 700, s49.2
This does not show that the administration
is perfect, but it is good record for all that
A SHARP BIT OF SPRAY FROM NEWPORT
"A Newport correspondent of the New Yorl