Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-03-16
An uNFnrSnEn CLAIM.

One OF the strongest arguments advanced
by the Radical party for the reelection of
Grant to the Presidency is the alleged re-
ductlon Of the public debt during his ad
ministration by three hundred millions Of
dsllars. This claim has been advanced so
often and with such earnestness by Bout
well and the Grant ring, that the public
who have neither the time nor the facilities
for examining into the matter for them
selves, have very generally accepted the
statement as true. A close examination Of
Mr.. Boutwen's accounts will convince any
one that the claim is unfounded, that while
the debt has been reduced to some extent,
the amount Of decrease is comparatively
small. Assuming Mr.. Boutwelrs figures to
be correct, the statement IS as follows: On
the first day Of July, 1869, four months af-
ter Grants Inauguration, the public debt
less cash in the Treasury, amounting to the
sum of s., 5Os,915, 1872. On the first day Of
July, 1871, the dept was as follows:
Debt bearing coin interest
(amended). .S2.O4o,Il 4,ISo Wv
Debt bearing currency interest. $685. 900 90
Debt bearing no Interest,". 6,56j, $50 %
Natured debt on which interest
has ceased. ......-..--....-.-... l's4S,|E% 20
Total. SIC, S52868 90
Add Pacific Il. q. bonds........... 6I,6ls,s82 90
Total principal outstanding g., 575, & 200 80
Deduct cash in Treasp ~, July 1,
lsi 1........s..--.-... ..-..---. lVor-li 100 %
Debt, less cash on hand, July l,
.,-. = ibs,-zaSJo %
Debt, less cash on hand, July 1,
Debt, less cash on hand, July l.
1e'l.............-...--.. = oS,-oo''o' W
Total reduction If debt in three
years.......s,.s,..... ......'.-..e o5'ool5-o9 "
These are the official figures, taken from
the Treasurer's books, and they tell a tale
which no amount Of dogmatic assertion on
the part of the Radical leaders can prove
untrue. They present a stubborn array Of
facts which no sophistry can overthrow, 20
specious arguments can surmOunt.
As a result of the alleged reduction Of
the public debt, Mr.. Boutwell, claims large
decrease In the annual expenditures for in
terest. On July l, 1870, he claimed that
the interest charge had been reduced by
S7,74I7g7; July l, 1871, be claimed
a still further reduction OF S6,632, 4Z2. Sc
making a total reduction in interest charge
of sl4,44O,219.5G. Compare these state
ments with the following table compiled
from his own published accounts:
Interest paid for tie year ending
june So 1858. .SfS1 ,Gq5 Cd 80
Ius rest paid for tine vgur ending
June 30, leio..........--...,..,. l-3.-s5,s2s 0s
Total decrease during fiscal year sI,45s,1A4 y
Am1unJCf decrease stated by Sec
rotary Ct5t+l 80 90
decentralization. =. I,a5s,7H p
Amount Of false claim JuIvl,1e-o sG,gs9,os- -
Interest paid for the wear eudla-
Jane %, y7o..........,.........sI22,2s5 ,s9s oa
Interest paid for year ending June
so l-5. G.jG5 %
Total decrease during fiscal year. - as. q32 X
Amount OF decrease stated BY Sec
Rotary. ....................-...... S6,Gg2,422 80
Actual decrease ar per payments
made. .............,...-..--.-.. St5S,9Sa Is
Amount Of false claim July l, 1871 $685. 400 u
Interest paid for year ending June
81, 1909. .aA'''O'7'-7- ~
90. u, $50 ,565 90
years. s5,I1s, $40 81
claimed. ...................... sl4, 40, 219 66
made. ........................ 5,l17,676 81
Total amount of false interest claim So 1872 $40 90
BY his own conflicting statements he
stands before the public convicted either Of
wilful misrepresentation, or of most dis
graceful Incompetence for the important Of
fee be fills.