Eaton weekly Democrat. [volume] (Eaton, Ohio) 1866-1875, 1872-09-05

| for over three millions of money that wal
| missing, and this item was fabricated to bal
| ance the books. This is the fact in the case
as we are prepared to prove by the clerks il
the Secretary's office. who made up the state
| ment for the Secretary.
| WHAT THIS SORT OF FINANCIAL MANAGEMENT
| RESULTS IN.
The cost of the last three years of Demo
| cratic Administration follows (see
Finance Report, 1871, page 36O:
77o55 OI5. 8;
Total for tbres wears s2teI 2I 0sI 6.
T The t cost ' Of three years of Republican Ad.
| ministration was follows (see Finance Re-
port, same volume and page):
1869 -IO.. SIOzyoI oiz.e1
is7-2 (Regster's LedgerJ J.......... 682525,27 81
Total (Republican) for three OF Is e7I 80
Total (Democratic) for three years 246.l2l,OSl 81
Difference .. .... 81 ,ssOa92 $50 "a
For the same period the net ordinary ex-
penses of the Government we're as follows:
IS5S59 IEinance Report, ISL page 367 $50 81 O572
FRePoF s page ss SS99sf
Total DemOcratic) cost for three SIss $50 %
1901 EinanGe Report Is7 page 567) I57 Ss3 81 IS
1S7l-72 (From Registers Ledger 1888 .20l SJ6l9
Total (Republican) cost years S475
This statement excludes all payments of
principal and interest on the public debt, and
includes only the net ordinary expenses of the
Government.
Three years under Grant - S475 2O7 I9O 92
Three under IsS S74.6S9OO
Difference... .........S $3.50 gss2, ,5Ol 92
While it is true that in some instances the
legitimate expenses have increased, as in the
case of pensions and the Freedmen's Bureau,
it is also true that there was a large amount
of revenue, of which no mention is made, to
compensate the increased cost. Where are
the ships gun-boats, naval stores, arms, war
material, quartermasters' and commissary
stores which the Government had when Cen
Grant Ecame into power, and now has
not ? Where is the account of the proceeds
of the sale of captured and abandoned prop
erty Again, there has been received from
customs during the last three years over $222,-
600, 900 of gold, more than the gold disburse-
ments, which averaged over 18 per cent.
premium, amounting to over $39, 100000 of
revenue, of which there is no account.
With the exception of the interest on the
public debt and our foreign intercourse, the
Government expenditures are all paid in cur
rency.
The gold receipts from customs we're as
follows:
1853 Finance Report 1870. page .sIet Sss 80 g
sa@o as R Year,
Total gold recei O7s 9o54
The gold expenditures for the same period
Is69-7G interest on public $I29 235 49sOO
lS6s-I0. foreign l49O77625
T2taI Is2sl ::; rnGc dsb; 5zS 54 g
lS7O-7l foreign Intercourse. I6O4, 4,S73s7
is7i72 estimated as previous year Ia4 80
Ssee Finance hspoTt $50 page = ard Finance
s1hsf
Excess of receipts over expendturesS22 992 SO
Average premium 1S per cent, equal to
S39, ,958, ,566.48.
During the Congressional canvass two years
ago, pamphlet prepared by Henry Wilson,
the Republican candidate for Vice President,
was printed and circulated by the 'Union Re
publican Congressional Committee" entitled
l. The National Finances"
Under the head of " Reduction of Taxation -
Mr.. Wilson informs the country how much
this Administration has reduced the taxes.
He said
The following table exhibits the estimated
reduction of annual internal taxation and
customs duties under the laws mentioned, and
also the aggregate of said reductions for the
five years:
Reduction qf Internal Tdres
By act of March 2, 4O00oOOUOO
By acts OF March 81 and July 70. 1865 - IS SOSSSSSO
BY act OF July H. 3'Zi2OOOOo
Net total reduction internal 2I2 10000
Customs Duties.
imports by the act of July IA, 1870 is 23,626s273 33
Aggregate annual decrease by RepubIi-
se Let rs see how M nh1 trItSfnI Mr. Wilson'S State
ment was, and how his promise has been
fulfilled.
For the last year of Johnson's Administra-
ton the total expenditure of the Government
was (see Finance Report, 1871, page 36O
For the next three years, under Grants Ad-
ministration, the total expenditures were as
as follows
(See Finance Report. same volume and page.)
80
S72 (see Register S booksJ 6S2525 27O2l
Average annual ex $3.50
Cost under 3S4.777996ll
Annual Grant over johnson. $lO7 s27 IS
In addition to this, during Johnsons last
year the debt was reduced S147 ,3lS, ,404.O9
(see Finance Report, 1870, page 276), and Mr..
Boutwell, only claims an average per annum
reduction of ninety-seVen millions, SO that
from his own showing he expended over one
hundred and seven millions a year more than
johnson, and paid fifty millions Cper annum)
less of the debt.
MR. BOUTWELL, BUYING BONDS AT PREMIUM,
WITH CURRENCY AT A DISCOUNT.
On the back of the same sheet on which the
90 monthly debt statement" is published, there
is a printed statement of bonds purchased by
the Treasury Department"
From this statement. it appears that the
total amount of bonds Iurchased by ,s, ,,o oo
For which he paid a0i 8lSe 89l7
The amount which the Government owed
was the face of the bonds, the amount paid
exceeded the amount owed just $33, ,257, ,53917,
and none of these bonds were due and payable
when purchased!
HOW INTEREST Is SAVED.
On the LIST of July, 1869, there were out
per cent. certificates, bearing in
terest in currency at per cent. per annum.
amounting to $52, ,12O, 000- (See debt state
ment, July 1, 1862
On the 1st day of July, 1872, the amount of
these certificates outstanding was only $10,-
665, 900.
So that Mr.. Boutwell, has called in over forty
one millions of Indebtedness, bearing per
cent. interest in currency, and funded new
loan with the aid of the syndicate, of two hum
dred millions at per cent. interest, in gold
coin. A loss per annum of over SS2O,O0
GOLD AND CURRENCY HoARDED IN THE TREASURY.
Oh the first day of July. 1863. tho amount
of cash in the Treasury ld5 $50 3i0S1
yuly !, l49ou, 4LIoo
l.,
Average amount boarded in the Treasury
since 1869, by Secretary Boutwell,, S129, ,642,-
T72.O3.
Average loss of interest, S7,778, ,566.32.
A GOOD varnish for initiating ground
glass may be thus made: Dissolve 80
grains of sandarac and 20 grains of mas
tic in two ounces of washed methy-
lated ether, free from spirit, and add,
in small quantities, enough benzine to
make it dry with a suitable grain-too
little making the varnish transparent,