The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1872-09-10
~RENoMINATION ECONOMY
How Grant is Paying the Public Dsb;-
A few moro OF Conklin8's misstate-
ments Corrected.

The following extract from a letter written
by the Hon. David A. Wells has been made
public:
am In receipt of your note of the 2lst,
asking sWhat did Mr.. Dawes mean by saying
in bis speech at Utica that Johnson's adminls-
Lration only reduced the debt $l3, O00, 00O q
[ had not observed that Mr.. Dawes made any
such statement; but Senator COnkling, IN his
recent speech at the Cooper institute OF new
York, did so aver, and in 80 doing stated what
was not only grossly incorrect, but what,
moreover, could not have admitted of mis-
statement II the speaker had ever given the
subject even the most superficial inVestiga-
ton. To prove this I will refer you to The
last report Qs71) of the secretary of the
treasury, pages IL and Ii, where the
principal Of The acknowledged or fund
ed. public debt Of the United States
AZ it existed on the lat of July In each
year from lSa3 to 1871 Inclusive. By this table
&c appears that the principal OF the pnbllc debt
on the 1st OF July, 1866, was So. 773. 236. l73, and
on The LIST of July, 1853 s2,6li, 6S7, SOL, mus
showing a reduction inSonnson's nrst Two
years alone of sl6l, SO, sa2. At tne close OF
Tho next fiscal yeart lse9E-eight. months OF
which were under Johnson aud four under
Grant, The principal of the debt had been fur
Their reduced to s 1858, 452, 2l3. But this me-
thod of stating the payments made on the pub
lie debt under the administration Of Andrew
Johnson tells but a very small part OF tie &C.
Lual truth; und this Mr.. Conkling, II he ever
had read the reports of the Secretary Of Inc
Treasury since 1868, must have known as well
as auy one, for alter the Presidential election
in November, 1868, when the whole subject
had passed ont of the domain OF political
discussion, Secretary McCnllocb. and also
General SchoHeld, then Secretary OF war,
for the purpose of establishing the truth:
nnbllshed fnil details OF the amount OF
payments made up to November, 1858,
out of current receipts tor Deus ALREADY
due ct the close OF The war, ana NOT luhueo,
and also for bounlies, all OF Wnlcn, II NOT Illus
and then pald. would, to an equivalent extent,
have Augmented the funded debt. Secretary
McCulloch's statement may be- found In bis re-
port as secretary of the treasury, December,
1869. and General SchOleld's in the form oil
letter. In answer 10 resolution OF the House
of Representatives, December IL, 1863. But
by THESE statements 1t is demonstrated, %.
yond the possibility OF a caVn, anu oy y y
hat be1ween the lst day OF April, 1855, and
the lst day OF November, 1868, a period oil
three wears and seven months, there
was paid out OF the treasury OF the
United States. under the administration
of Andrew Johnson, on account or Inc
public Indebtedness, the large sum OF s4IO,-
256. ESQ AZ: and In addition thereto S42 l9i OO0
nm account of advances to the Pacific rail-
roads Ua and s., 200, 600 on account of tho pur-
chase of Alaska; the whole making an aggre-
cate of s5l9, 65O,650. (See report oil the secre-
tary of the treasury, December, 1868, pp.
I9-2l.) 1 have thus answered your question
AZ clearly and conclsely as l am able. have
been particular also to give the SPECIFIC au-
tt critics for my figures, 30 ina ne VINO !eI
doubis NAV readily Investigate for himself.
And vet there can be little doubt that The
"sI3, 0OO, 900 reduction" will continue to be a
stock political argument Tor the whole OF the
present campaign.