The daily phoenix. [volume] (Columbia, S.C.) 1865-1878, 1872-05-04
S. G..
Saturday Morning. May 4, 1872.


The Eeoa0na:oai A6Easa.st=se.oa.
The Grant organs, as did Morton and
the other trumpeters of Grants praises,
at the meeting leld some time since in
New York, to endorse his administra-
tion, claim that the affairs of the country
have been very economically conducted
since Grants advent into power. In
their apologies for him. they assert that
though not brilliant Chief Magistrate;
though reconstruction had not been as
happily developed as was hoped four
years ago; though the Santo Domingo
scheme was not very wise, or very Gre
.ditable undertaking for the Pseaident of
the United, States; though there have
.been great frauds in the Custom House,
and in many Of the departments OF the
Government; though. in short. Grant
has proved but a sorry official in many
respects. still, as Morton put it, the peo-
pie see and feel that he is "safe man."
the public credit has been sustained;
and, wonderful to say, there has been
near $500, ,00O,0 600 OF the public debt
liquidated in three years, without any
increased taxation OF the people. Now,
as to the economy of Grants administra-
tion, there needs but comparison of the
amounts consumed in carrying on the
Government by Grant with that expended
under Mr.. Buohanan's administration,
to show how groundless is such an asser-
-tion. That there is q very heavy ba-
lance in favor of Mr. Buchanan's term,
the GRANTEES are compelled to admit,
but account for 1t by alleging that the
increase OF population. the interest on
the public debt, pensions to soldiers,
&c., more than cover the margin. This
may do for bald-faced statement, or
even plausible argument; but let us see
how the matter stands when we reduce
it to figures, which do not lie. The fol-
towing estimates were made by Hon.
James Brooks, in speech some time ago:
-Buohanan's administration,
A66U.. ................... BOO, 9O1 ,OOO
Add for increase population
% per cent. IL, 800, 900
For depreciation Of currency 7,OOO,O 900
Interest on public debt. -. 115. 100000
For Indian expenses. $3.50. 3.000,0 900
Sinking fund, per cent. 1850. 900
Total ............. ;. 1892, 721, 600
That this is an exceedingly liberal
estimate, any candid mind will admit.
Every possible excuse and plea for in
creased expenditures is granted and fully
provided for. Now, let as see what re-.
ceipts have been had during the last
year. They are as follows:
Collected from customs. .$2O6, ,27O, 4OS
collected from internal re-
venue. ........... 80. 143, O0S, lob
Collected from sale ,blic
lands. /. .......... -. 1888. GAG
Collected from misce ,ane-
GUS SOURCES. ......... 31,566, 736
Total net receipts. ;. 1888. 323, 943
The amount as above esti-
mated. 232. 721. 900
Excess Of collections over
actual needs of Govern
meDL. Sl0U, OU2, S45
Here. then, is one hundred and fifty
millions surplus funds, which have been
wruDg from the people in one year. We
have no means Of knowing precisely
what the receipts were for the two years
preceding. If We are not mistaken,
though, they were much heavier than
for the last fiscal year. But if they we're
no greater, We should still have for the
three years $3.50. 900. 900 of surplus mo-
ney. Something less than $500, 00O, 900
OF this has been applied to the payment
of the public debt, and there is still left
$l50, 900. 900 unaccounted for, or, at
least. extravagantly expended. What
merit is there in this payment of the
public debt? If it had been done by
economical management, or skillful
fnanciering; il the machine had been so
run as to cave this much, there might be