The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1872-12-12
REDUcr1oN OF PUBLIC DEBT.

From the foregoing statement it appears
that the net reduction of the principal of the
debt during the fiscal year ending June 30th,
1872, was 500, 800 253 81. The source of this
during the year, 1854, ,694, ,229 81. Net ordina-
ry expenditures, including interest on the pub
lie debt, $270, $50 695 81; difference, So, 1874
564 90. Add amount of receipts from premi-
um on sales of gold in excess of premium
amount of the reduction of the cash balance
ut the close of the year, accompanied with
same at the commencement OF the year, So
81 ,34S 65,-total 500, $50, 253 81 This is the
abatement of trials solely of the principal OF
the public debt. By the monthly statement
OF the public debt, which adds together the
principal and interest due and unpaid interest
ACQUIRED to date due, and deducts the cash in
the treasury as according. On the day of
publication the reduction was 100, ,544, ,491 Is.
The source of this reduction is as follows: re-
duction in principal account, 99, 960, ,003 "a !;
reduction in unpaid interest account, s., $50,
$50 90; total, $103, ,290, ,956 so; reduction in
in cash on hand, S2,746, ,465 ~; total, 100, ,544,
49l %. On the busis of the last table, the
statement shows a reduction of the public
debt from the first of March, 1869, to the pres
ent time, as folows: From March, 1st, 1869,
to March ist, 1870, SS7, 134, 7S2 81; from Narcn
1st, 1870, to March 1st, 1871, Sl17,619, $50 25; !;
from March 1st, 1871, to March 1st, 1872, S94,
S95. .34S 81; ; from March lat, 1882, TO Novem-
Der 1st 1872, eight months, S64, ,O47, 137 81 I;
total. $SO3, ,O9O, ,S5S OF. Win Inc great reQuc-
tion of taxation by the acts of Congress at
It's last session, the expenditure of the Gov
eminent in collecting revenue will be much
reduced for the next fiscal year. It is very
doubtful, however, whether any reduction OF
so vexatious burden upon any people will
be practicable for the present. At all events,
as measure of justice to the holders of the
nations certificates of Indebtedness, would
recommend that no more legislation be had
on this subject, unless it be to correct the er-
Oc or,ia commits sion the DrPHe mt
laws, until sufficient time has elapsed to prove
that it can be done and still leave sufficient
revenue to meet the current expenses of tho
Government, pay interest on the public debt,
and provide for the sinking fund established
by law. The preservation of our. national
credit is of the highest Importance. Noxt in
Importance 10 this comes a solemn duty to
provide national currency of fixed, unvary-
ing value, as compared with gold, and as coon
as practicable, haying due regard for the in
terests of the debtor class, and the vcissitudes
OF trade and commerce, and convertible into
gold at par.
WAR DEPARTMENT..
The report of the Secretary of War shows
the expenditures of the War Department for
the fiscal year ending June 80, 1871, to be $sS5,
100 99l 50; and for the fiscal rear ending Jus
80, 1872, to be $35,372, 157 20; showing ro-
duction in favor OF the last fiscal year OF S4s7,
634 62 The estimates for military approprla-
| tions for the next fiscal year ending June so,
1878, are s3S, ,s0l, 1873 7s. The estimates of tha
Chief of Engineers are submitted separately
| for fortiications, river and harbor improve
ments, and for public buildings and grounds
and the Washington Aqueduct. The Affairs
| of the FrcedmanNs Bureau have all been trans
ferred the Wsr Department, and regulations
have been put into execution for the speedy
payment of bounty, pay, etc, due colorcd sol
| diers coming under that bureau. All war as-
counts for money and property prior to ISL
| have been examined and transmitted to tho
Treasury for final settlement. During the
fiscal year there has been paid for transpcrta-
ton on railroads, 81, 500 900, of which $780,
S57 was over the Pacific railroads. for trans
portation by water, SS2, ,637, ,S52, and by stagei
$4s, ,975 81; and for the purchase of transpor
tation animals, wagons, hire of teamsters, &c.
&C., $924, $50 81. About $370,000 have beer
collected from Southern railroads during thu