The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-07-18
l. 70 secure the faithful collection Of the public roy

l. TO secure the faithful collection Of the public roy
70 rs establish public credit. and. consequently to
70 reduce taxation and, nnalIy to- prepare the way
nor ee 81 & q as
once astrstsS apd asSSa.srassa y iSsss iscS iSs
ne last 9Ss
@ @ Ss sps % The
% ne" @ss q ess s s5s Of General Grants adna
The total derived distilled spirits during
nS 81 s sesns Ct sa Ss o
the tact that the duty was 81 gallon during large part
peaS 'ny
.fufas' sfP petsa @
SSos ss w syst' only that
s hsaTs ihs sS n sas
e + T. e g
but mach the larger portion was due to crcamsances
s as%s to condon things which are now invited 70
saS % By
srac party The natural fest Of ibis Condition Of
saS
Sssa TO
s means and general rule dshSnes gr
VI .SSSsa ss
sy er IN the pr
there IN
e 70 Sa ON tSG psst
s sEansi psr;Sns him the
ssSs SSS
once and almost impossible to secure the removal Of
s sS
Sp hsss Sf
turn Of hs state things which sisted during Mr. John
dishonest Office and the appointment Of dishonest
me a. Ss ey 81 snera 90 mot h admit s Ct 20 %
country the benefit Of common purpose IN ali the de.
tue collection of the revenue and this result has been
THE PUBLIC nxpEsprruREs
that Of o he also to
d R s4 SS BS
s'ss' than 6
5e no Ss s 70, ss
Mr. % Ss end S "a
s Depstmsn e. wss s
a a s csy e snny T. PSssS9 S
published he 5sg S,ess June not
n as %as s
b. NJ
Sssoa q @ s snH Is il s 81 g. oD.slya s
se @ PS5 saS Ps5SHss ssss
these being included IL 4 d G
to noicc the Importance Of these statements in View Of
nas that rs s %a$e s n
81 s ws a. &
the last thirteen years BY the depreciation, in paper
9H In the actual M @ Saae
THE TWO FiRsr-MrSrroYED OBJECTS
The JedHs5lOn having been aSsc%pishSd ihs
the Of he interest wa,
public debt an Incident to and kept pace with the
suits attaed under the first two heads and from the 9TH
sedassd In the 81 s q am annual lin.
oervcS Sa Inc ae s s Of Of the
three years Of General GRANTS admnraton was very
rat0a for si,Goag were %sas John
that h the
q sSsiiSn during last Three Mr. JSSpsSas
s rst three year; General Grant: The receipts into
sHsS THAT s
dyed ',Sf fs e
payments on the public, debt during the first
e a sSsa aass
toward the public debt on the 3)th ofJune would
shows once the reduction OF that has been
erected by General dranrs administration and the i'm
largely to dvsion Of and
pose between the Senate and Executive. BY the act
s % e s % 81
%S
sSs G'G
banks and bankers. proprietary medicines and stamps
exempt entirely from all direct taxation BY tie national
government and Will never more see the face Of tho tax
GOVERNMENT CREDIT AND SPECIE PAYMENTS.
II needs no argument g show that AL these measures
TO bring the paper Of the country to par with coin
the sssst possible 9@ m n ss BIB NM Of
bonds have been redeemed and In their stead S2Oc0OO
have been issued at the rate of i've cent and unless
cable to continue the redemption Of outstanding six per
cent bonds and the issue first OF bonds bearing five per
per cent and four per cent rho beneficial re-
suits of this measure are not confined y the gov
by ix.ns standar Of interest al low rate and thus en-
abng other parties who borrowers TO procure money
PROF oronateiy less cost The establishment Of the
credit was impaired proposition to redeem the notes Of
by demand which Would have brought the government
to bankruptcy without delay so, too 1t is condition
Ce materially above the value Of PAPER at resampto
may be begun and maintained without interruption.
IL must therefore be ac cnor a. o truth for s
OF specie payments will not be due directly TO any
measure orlcgislaton be forciby maintained
result OF an existing condition of things and there fore
i has been the policy OF the administration 70
specie payments without affecting vo-
lenty preJuiciay tho great interests Of the country