Eaton weekly Democrat. [volume] (Eaton, Ohio) 1866-1875, 1872-09-05
Astounding Mismanagement of
the National Funds.
Unparalleled Frauds - The Federal
Treasury Plundered of Hun
dredS of Millions.
The Public Debt Not Reduced-OverwheIm-
ing Proofs of Robbery from BOutweIPs
Own Stntements-False Entries and
Fabricated Starements-The
Public Accounts Muri-
lated Ito Cover Up
DeIInq uencies.
From the New York World.

From the New York World
Nearly four years ago the present Adminis-
trauion came into power under a pledge of
economy in the management of the national
finances A demand is now made for a new
lease of power, with an assurance that its
pledge has been redeemed.
The object of this paper is to demonstrate,
from the official records and published state
ments of the Secretary of the Treasury that
the people have been deceived and plundered,
the public accounts confused, and the public
money wasted. That the national debt Is an
unknown quantity and the reduction of the
debt delusion. That false entries have been
made in the public ledgers and balances forced
by fabricating items of expenditure. That
the records of the Department would not be
received as evidence in court of justice, for
the reason that their statements of accounts
are false and contradictory upon their face
That there has been duplicate issue of Gov.
ernment bonds to the extent of many millions
or else false statement of the interest ac-
count made to cover up embezzlement or
theft. That securities bearing three per cent.
interest have been called in and five per cent.
bonds issued for the benefit of the syndicate.
In demonstrating all this shall confine
ourselves to the official records of the Treas
ury Department, and furnish volume and page
for every figure used.
FALSE STATEMENTS OF THE PUBLIC DEBT BY THE
TREASURY DEPARTMENT.
Secretary Boutwell,, in his Finance Re-
public debt June 20. 1869, was.... $50 603 955 70
In his published monthly debt state
ment, dated July ], 1862 he rays
In III: Finanes Report for 1870 page 0''i'O1''''0
=; ne So states that . on the the SOth OF
And on page 276. same volume, the
Register certified that it was on
Here are four official Observation-Disclosures s'ilo une
der the official oath of the Secretary of the
Treasury and one from the Register of the
Treasury (the Book-keeper of the Treasury
stating concisely to a cent the public debt
of the United States on the 30th of June, 1869,
no two of which agree within eleven million
of dollars, and In one instance two of them
differ more than one hundred and hfty-six
millions.
It Is from these omclai statements that the
people ascertain the amount of the indebted
ness. There is no other record of the debt
than these, and they confute and contradict
each other. From them anything be
proved or disproved, and it is not strange that
the debt reduction claimed by Mr.. Boutwell,
can be demonstrated, where fixed amounts ap-
pear to be adjusted on sliding scale and fiuc-
tuate in value like gold in Wall street on Mr..
Corbin's Friday.
Here is Mr.. BoutwelPs statement of the
debt for July 1, 1862
MonsSs ss9 Sag ss
g. Finance Report, 1870. page 2S Ass 49,, M 1924
4. Finance Report, 1870, page N6.. 24S9O02 4S0,5S
DEBT REDUCTION.
The monthly debt statement for July l. 1872
(the end of the last fiscal year, states that
the total debt on that day (July 1, 1879 was
81, 294, ,957, ,142.05. By deductlng that amount
from what it was ON the LIST day of July, 1869,
we will ascertain the debt reduction for three
years under Mr.. Boutwells management.
Now if. on the LIST day of July. 1869,
the total debt was Finance Report 49, 49,.
1863, page 29l. $3.50, ,603, ,955.13
And July l, 2,z94 1857, ,I42O5
The reduction 1851 6i68l86S
bas fhe debt $ s &ss e Saz o.
ment July l. 1869 $2645 l7O. .29ll6
And July l, 1894 957, ,l42 O5
Then the reduction ss5o2l3 1911
the debt was (Finance Report 1870
And July L. 22919S7 i4s05
Then the reduction was.............. 2s3 495O7Is9
And if: on the 1st day of July. 1862
the debt was (Finance Report, 1870.
APd Ddsg 1iS l.
Then the reduction was.............. 1883
So that the precise amount which Mr.. Bout
well reduced the debt in the three years end
ing July 1, 1872,
$S6l $40, ,Sl36o
81 ~ 40
By reference to Finance Report, 1870, page
276, it will be seen that during the last three
years of Johnsons Administration he reduced
the debt $294, ,423, ,39S. .63; whether Mr. Bout
well has reduced it more or less than that
amount in the last three years neither he nor
any one else can inform us, nor can the amount
be ascertained from the confused records of
the Treasury Department.
The act of September 2, 1871, creating the
Treasury Department, section 2, provides:
lit shall be the duty of the Register to
keep all accounts of the receipts and expend-
itures of the public money, and of all debts
due to or from the United States"
Under the law as well as the usage of the
Department, the Register is the national book
keeper, and his record imports absolute verify.
The annual report of the Register Of the
Treasury for the year 1868 (Finance Report,
1868, page 291, states that on the first day of
July, 1863, the public debt of the United States
In his report for 1869 Mr.. Register Allison
failed to make any report of the public debt,
but in his report for 1870 Finance Report,
page 276,) he states that the public debt on
the first day of July, 1862 was 81 4S9 OO2, ,4S05S,
showing that between July 1, 1868, and July1,
1869, the debt had been reduced $147, ,31S,-
484.09.
The last four months of that year belonged
to the Grant Administration, and the first eight
months to President Johnson's term.
In thu published debt statement of July 1,
1863, Secretary Boutwell, certifies that during
the four months ending July 1, 1869, he re-
duced the debt $50, 46O, ,779 43, so that the debt
reduction for the fiscal year ending July 1, 1869,
was as follows:
First eight months by Secretary Nc
Last four months by Secretary Bout
36,46O,779.43
Total for the year Sl47,sls 4S4O9
vened Mr.. Boutwell, claims to have reduced
the debt $3.50, ,213, 49, IL, that amount being
the difference between what the debt was on
the 1st day of July, 1863, and the LIST day of
July, 1872, according to the monthly debt
statements of those dates, respectively, pub
lished and certified to by Secretary Boutwell,.
Now, if it be true, as certified by the Secrs-
the 1st of July, 1879, $3.50, 213, ,152. IL less
than it was on the 1st of July, 1869, when it
was $2 489, ,OO2, ,480.58 (see Finance Report,
page 276, 1s7O,) it must have been 80, ,13S, ,789,-
328.47 July l, 1872.
July l, 1869 total debt. 81
Deduct amount paid in three years O,2l3 l52ll
And the debt July /. 1872. should =
Instead of that, and in face of his own re-
cords, the Secretary of the Treasury certifes
that on that day the debt was 81, ,294 957, 1905