Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1872-11-01
s 922,765,8O9 90

The amount of. ......$ 922, 765 800 90
the debt that economy would have paid.
These enormous revenues are startling.
In the period of four years Grant will have
received more money in the Treasury than
was paid into it during the first seventy
years of its existence. During the thirty
years preceding 1860, there was collected
from the people only S1,199. 1872, $50.
The current expense of the government
in 1860 was only So, 100000 annually; now
it is Sl56,0O0,000. The army has cost us
in the past six years $673, 100000. From
the origin of the government to 1861 it cost
only 550,000,000. Is this economy? The
Indian Bureau in 1870 under Grant cost
the sum OF. .................. ~ ,426,969
Under johnson in 1878. ..... 4 ,1OO,682
Increase in one Bureau per year. 81, 1926, 2S7
HOw long can the people tolerate this
fightful economy?
The constant boast of the rapid payment
of the national debt disappears when you
contrast the meager sum paid with the vast
revenues poured into the treasury. Mr..
johnson paid during his term of three years
and seven months, of the
audited debt. ........ ....S5l9, $3.50
Whilst Grant, in four years,
only. .....' ......... 5oO,ooo,oOo
Leaving in favor of johnson. . S162, 9Sl, 84l
These figures are taken from the reports
of the Secretary of the Treasury. They tell
the fearful effect Of the Grant policy.
The taxes have been reduced, it is affirm
ed. Most of the reduction took place ua-
der Mr. Johnson's administration, and the
enormous sums now collected and impTOp-
erly disbursed proves that they have not
yet been reduced sufficient. The Secre-
tary of the Treasury keeps constantly on
hand over one hundred millions of dollars.
This vast sum of money is left idly in
the treasury. It is 50 much extracted from
the annual proceeds of labor for no useful
parpJsR. l. must be confessed that such a
fund il the u..nds of a military executive
is fraught with danger to the liberties of
the country. 1t is At any rate most I'M
wise system of finauc9ring.
The system of MAJ, .ll Banks with their
centre at Washington under the control of
the Executive Department, places the cur
rency at the mercy Of spectators and
gamblers. The completely II the President
with the gold corner on the memorable
"black Friday" was more than suspected,
and shows the danger that may result from
a deprecated currency under the control of
the Executive when he may desire to en-
gage III a speculation, or TO precipitate q
crisis to influences an election. Consider
for one moment the fact that the Secretary
controls all the gold coin in the country.
At stated times he offers for sale q number
of millions of dollars to keep down the
prices of gold. If he withhOlds this supply
gold rises and greenbacks fall. The whole
commercial interests are taken out the
operation of the laws Of trade and placed a.
the mercy of the executives will or inter
ests. Currency is TO commerce what the
arterial blood is to the physical organiza-
ton. It's suppression or deterioration is
fatal to health. The Importance of cur
rency free and beyond the control of any
arbitrary power is manifest and it is palpa-
BILE that our currency is the most
dangerously fetteyed of any in the
world. The currency is at the mercy
of one arbitrary viii, and as con-
sequence the price of labor and
property also. The completely of the exec
utive with a few moneyed men will place
every interest in danger. IL is the sword
of DamOcles suspended by single hair
over the head of every citizen of the Re-
public. In this paper L can only glance at
this interesting theme.
The Indian policy of the administration
so far as the peace policy has been adopted
was not Grants idea, nor wss it first adopt
ed by him. 1t was practiced in Penn
sylvania by the Quakers-by Mr.. Jefferson,
and was recommended to Grant by an en-
lightened Greeley Republican of Balti-
more, Maryland, Hon. S. S. Stewart, who
at the close of the johnson administration
sought to have it insugurated, and only
failed for time, to secure fair trial. The
policy after all is a mere shadow, for more
Indians have been killed at greater sac
rifce Of money under this administration
than under any administration since that of
Mr.. Madison.
At the risk of being $50 lost to all sense
of shame and honor" we have and do
charge President Grant with having re-
ceived large presents unusual in this Re-
public, and with having rewarded his donors
with nigh and responsible offices. Or to
put the question more directly we charge
him with having prostituted the sacred
trusts of the Repu bic to the purpose of re-
warding his donors. We also affirm that
he has quartered his relatives on the Treas
lry TO al extent never before countehancsd
by any President. They are known to be as
incompetent for their places as they are I'M
worthy OF them.