New-York tribune., 1872-07-19

its ~ his lite and ustead OF recent l,s'ent
tsat1on ms eau o ms rs Il Republic was the openu
of an eXecr. We career In wich the ~ 'S % f ~ and by
VA uc.u -. ,e sea-shorc I'm word, Whatever h''
s,,re is iu the rapid redemption o' '.o r des il
-, a. ~ essenfi degree 90 Ncu 1lts IVY - 80
firaish the slightest foundation @! III @ rs witch
trsrSuirsd from March l. lse5 70 @ Mloa IA l. i T \, me
So1opie1i of tnr pnEc debt Was PAID On out ., u
eery of tEc world furnishes uo parallel to i' as "'
cial achievement Is q guilty prctehsl'n' s
sowruuNG coNCERSINc TREASURY DIsBuRshhhNl''
rbe statement OF payment given on the authority ..
Nr Boutwell,, and 10 shows that since inc az -
Gcn Grant to the Presidency the puOAc ueOV u"' 'o
id NJ tho rate of Si0c oo' 90 per aunum But sohap-
mems that Mr. Boutwell, IS authority for 'tih ano'ue'
,,op,ept even more credtab.e TO tie period OF An
arov Iobuson- administration These facts have been
admirably brought cut iu recent letter OF the hoD
David A. wells 10 the editor of The Ncic York Na''0'
cannot 10 better than 10 employ portion oi Ms ''N
ment FIRST however let give an extract irou V. t
~ r,c Ir,pinfnt neysnaper organs OF the Admlnstra
tou which ,trfkuClY illustrates tNS prgCt1sVu A. a. -
% spouu Of e principal Of pubic eeb Pad from h' 'n o.
soaat ps iu nacs Mael l' :seo'H % sd 70 a5, @ is
1ss8 ~ o. aay SsS5 % o. .9.n vac pad By "a .s' q. SSy ] @
ss met Of " % . n al ,'or ssss uch AM Win wat
ssPSss' % o1Ss &C "a. s a. s A sJ % a lais q oa o Or a p
M three vesrs"
y above ,,atrnert ourds entire sconoepi'o1 '
$50, ~ doubtless 1un-nnonal means 9f deo-lyisg
- a. ,t AZ Inc bas cine she ruth shold lie
Ie ps s Fhtforrard TO the question
above ro.1aa, nan,r Ntery DO all a e mere ,i H
To- so M 10 necessary 20 back 10 ae for penod Of a1out "o
,s, ,s 5 % ] g attempted 20 capital seains; Reluol
sS e t1ss ,e INN sueceeng the uinaaon Of the VA. NJ
TIC s ,9e & ,1 S ~ So i IN sTer7 rco emanaHg fro ile
Trasagi bat TIE charge T,,,,. 'A' ~V AnD met sai
% 4, Mr. Boutve n speech in the House q Re7r
. July p .. M % seH,5 n As,sa ss ssst S 1885, S5
then Spe cmson Of the he'7ars en- G IN Noaa S0' Rsubcss
ComBe n IN proof obta ned by snai Eng iss % Va
assiilsrs, is , . ~ev i not been wasted snd that the
@ Of the lioysrarsn, Of the vaI were
M. poUrwE1L's " GREAT FACT."
The specch OF Mr.. Boutwell, is so remarkable ana
n IN te leseut position Of its author so significant
IN lis bearing upon what is now sought 70 De maue po
htca ssue tnat quote entire its most important pas
sage remarking at the time, for the oenent OF
those interested that the speech IN full NAV De iound
in The Congressional Globe 6, part i've pages 4o'
wish 10 n ss attention Of DE fat eucea by 'are'l
rr .r af .t .s r.ret ron fe Assistant scr'iaIl o e
Tur. eareat showing aurag the ast aTee yeas We a-e
r1o ,i M p-rc aebl confess a, er the careful examination
bd m.i, fet compel ci 20 review and 20 SEE Ne -y l,y ~
som mistake n The premises the calculation SO astosnng le
eve.c, iaus iar shee o. 'e enI o E u - i75 o e ia of
Jsaaarr los nd nine months We have PAo ol o. % % eve
pesafes o. le auag these two years and nine
Lok ~ -' rs-si,ps srd bountes upon basis
ttealf TO III s- when the eTpcnses of the
s m m more than fbT are a the present year amounted
p0H9 showing haf paid over and aoove inose eApee
49, O G W . . ,s Soo 6o ana the : j6s Oo which
se ,eEse- te is' AfIi f . & ~. & S - ,1Be Of ite vsf
W. aa nj, 5a. 81 % % @ 5vo Isas aBa nine months. BY el.
me- rule debt are We 10 hereafter
IsFe u s e.sn e 10. --5lag mos 70 tiTs 81 e y, public
as1i o. lL plnI! "a % % Ia. We shan aot nae large
T the record of ths financial experience OF the Cow
erpment from 1866 10 ls65 does stop here In N0yem
N.lT
been established aud the matter under conslderdiou
had ceased to TORN topic of political debate OF popular
ing the exact facts, ana OF leaving true mstofcu
record OF the transactions Of his nscai administration
ordered care fI. ofica Investigation, and 10 December,
1865 in connection with his annual report presented tAe
faires vere as foows: on the Ist Of April 1865, when
the had practically terminated tAe achnO"ieetSu
total receipts Of the Treasury nom an sources
ascertaning how much or these receipts manly Ioi
taxes, applied 70 the pay meni OF de1' VI
interest and pensions created by the war me eetIty
officially ann led to the War and Navy Departments, and
asked. Low much of your respe, i've dlsbuisyueHla
properly chdrgeaDe 20 Jle expenses ~ 'A T- "a a.
received the following 4usWers; ~ Ine var DepaG6 c
These ngues show that the money expended by The ar
Navy Departments between the lst Oi April 1900
and the 1st OF November, 1865 on ams justly cdI tc
the expenses Of he war, amounted 70 S5Oi-@9 4Ae
Secretary says;
s6993 " paid osbts which seuay cue a. iLe eost
N va an o 9oaA.es le- lie M .le 2 .ay 9 81 !. eH zee p
bb,ed by Iasurv let Of APn s sp
peas that hs let " le United States at hat iIe y p-S @
s ,he aeiu Tel-sto1 "nee las been A19 a'. ~.
SOu haTe been si .oo-a lLsPor sear'-Ts Itasdy -e,-
bo llgo Ip s r.
Row JoHSsoSs ADMINISTRATION WAS surERIoH TO
GRANTS.
In view OF these facts what becomes Of the claims 30
continually put forth IL The public press and SO Ostent
uousy embodied in the resolutions OF political conven-
mons that the Administration Of Cen Grant especially
snuted 70 the confidence and support Of the country for
ne Of Ia c
debt and that IFS xperence respect 70 this matter is
without d parallel ID ListOryi The figures and testi-
mOuy above gwen demonstrate beyond question that
all such claims are untrue and further, the fact Of
having paid SOC TG2 OF dent IN rhe three years from
March I. 1862 90 March ls2 constitute special deut
Of gratitude from the people 70 the existing AdInIstr
ton the measure Of gratitude due 70 Andrew Johns0us
which actually reduced the national dcut
IN three years and months by the Of az least
t7O2S6Oco ought 70 be on the same pTnclpe al le1st
double. Il however, 10 be SAID that The johnson Adj
miustration had more 70 nay with than the Grant Ad
musraton and therefore was able for such reason %
make better showing, 70 is sufficient answer that both
Administered have had exactly what Congress per
mJed them % have and each OF them mas used us sur
plus I'D paying me dtol l lhe sane uauntI. blt 1uls
whole record OF paying the pubic debt regarded az
standard whereby The merits or denerts n any Ad-
muistration are 20 be measured or estimated not
OF the disposition % the surplus product II there be
any three courses and three only are left open FOR any
Executive, ms fiscal representative the secretary Of
the Treasury He steal may allow others t0 do
so be may hoard il in the vaults OF the Treasury he
To compliment President or Secretary OF tue Treasury
adopting any other than the latter rs there
simply equivalent 20 saying they are neither fools
naves and that they have adopted the method con-
sistent with common honesty ana common sense. In
short, the enormous and historically unparalleled re-
ductOn national debt which OOk place during the
period embraced from April 1866, 70 March, 1865, and
the smaller but continuous payments that have since
been effected have hen analyzed, but this one mean
iug and significance: they measure and prove the
enormous " which the people have been willing 20
Oc objected
The report Of Mr. McCu1och states that the public
debt in Apr 1855 much larger than the sum al
Justed the books Of the Treasury which is gwen az
tlSCoo55 r.. To this was 70 be added arrears OF
pay due the vast army OF million OF bOuuties and