New national era. [volume] (Washington, D.C.) 1870-1874, 1872-08-22
A Brilliant Financial Record

Until the disappointed office-hunters, dis
honorably dismissed office-holders, public de-
faulters, and disreputable characters general
ly, who compose Greeley's Republican sup
porters, can succecdin wiping out the brilliant
financial record of Gen. Grants administra-
ton, and contrive some means to hide their
own corrupt and criminal acts, especially
their frauds upon the Treasury, they might
as we'll waste their puny strength in trying
to build a railroad to the moon as to turn
the hearts of the people against the Presi-
dent. No Administration since the existence
Of the Government has proved so wonderful
a financial success as Gen. Grants. And no
lying rhetoric of the swindling crew who are
bowling at his heels to mislead the public
mind, will change their purpose to sustain
him in his efforts to remove from the shoulders
of the people the terrible burden of taxation
imposed upon them by the crimes of the very
men they are asked again to entrust with
power!
While this glorious financial record re-
mains, it will require better as we'll as ADLER
men than the Doolittles, and Trumbulls,
and Groesvenors, and Tweeds, and Nor
risseys, and Woods, to convince the Ameri-
can people that there is necessity for bring
ing the Democratic leaders again into power
in order that economy and purity may be Sc
cured. They cannot obliterate the facts so
admirably stated by Mr.. Shellabarger, of
Ohio, in speech in defense Of the policy of
the Administration, in contrasting the pres
ent Republican with the preceding Demo-
cratic Administration. These facts are that
in 1865 the tax on spirits was 81 per gallon,
and in that year, the last of Johnson, he col
lected slS,OOO,O0O. In the fiscal year of
Grant this tax was reduced to fifty cents, and
at that he collected s55,00O,0O0. In john
son S last year tobacco, taxed at forty cents,
Welded $4,000 In Grants first year,
reduced to twenty-five cents average, it pro-
duced s3l ,OOO,000 The expenses for col
lecting internal revenue under the last year
QS6s) of Johnson's administration were
sS, 3s7 ,793.l7, and the first year of Grants
these expenses for collecting this revenue
were reduced to $500, 4l0.22.
The tariff produced during Johnson's last
two years, s29s, 452 ,94O.O7. January l, 1871,
a reduction of s29 500 900 per year when the
tarif-tax went into effect, and yet Grants
first two years, ending March l, 1871, pro-
duced, of custom revenues, 1858 1855, 1914,
a gain of s55, 4O2, 227 .G7; and, notwithstand-
ing the amount of tax imposed by law ex-
ceeded that existing now nearly two to one,
vet Johnson's administration reduced the
public debt but sl3, OOO, 900 in his four years.
Johnson's Democratic administration ended
by message from him recommending re-
pudiation of the public debt-a recommends
ton stamping our name with the foulest blot
ever fixed by Executive act-the foulest ex-
cept that one frsm Buchanan demanding that
the Union should be permitted to dissolve.
Grants administration began with the de-
mand in his inaugural that every dollar OF
the public debt should be paid, principal
and interest, and in gold, unless otherwise
expressly stipulated"
Under Johnson's recommendation, backed
by the repudiating schemes Of his corrupt
party, our six per cent. gold bonds sold for
fourteen per cent. below par in March, 1869,
and for twenty per cent. below in July, 1868
Under Grants administration they quickly
went, where they are to-day, to premium in
all the markets of the world. johnson left
|, gold at a premium Of thirty-two per cent
, Under Grant it quickly went down to ten
and twelve, where it stands to day. John
, sons administration left taxes, assessed fol
meeting and overthrowing Democratic re-
bellion, upon all the industries, property, and
, imports Of the people. Grants administra'
don has repealed these taxes to the sggrs'