Buchanan County bulletin. [volume] (Independence, Iowa) 1869-1891, 1872-11-29

round ngureS, VI 800, OOO, 900, on
which the interest will not exceed
the sum of $4,000, 900 per annum.
Supposing there is no further re-
duction in taxation, and allowing
for development or regular increase
OF business from present sources
until the 3oth of June, 1877, the
average yearly receipts to that date
may be estimated thus:
From customs. S2S4 OOOO 600
From internal revenue. 1O6,OOO,OOO
from other sources..... % 900, 000-$3 OOO 600
Average Expenditures:
| Civil llst. ..:...........$ 7O,O00,0OO
war Department. 30, 600
Navy. ................... 1sOOO,OOO
Indians. :. ........... 7OOO.ON
customs. 1890. ......... 30,UO,OOO
Payment of principal. =. 10000 Oo-ss55 600 600
These figures can be reached with
perfect ease, and, with the same
care and economy and forethought
that have marked the last three
years, they will be. General Grant
will then retire from office with the
most brilliant civil record the world
ever saw, and it will read thus:
Reduc ton of the burden of internal
taxation In eight years. ........S 70O,OOO,0OO
Amount paid on national debt in
| elynt years. ........... SOO,OOOOOO
Value of Grants Administration in
dollars over JohnsOn's.. 81 SOC, 000, 600
The annual reduction in direct
taxation has been nearly 800, 200, 900
and is permanent. The annual
payment Of debt has been about
sloO,OoO,OOo, giving total as above
if continued for four years more.
The Administration ruins the
country thus:
Reduction of debt by uniform rate each year.
Reduction Of interest, which is permanent.
Reduction of annual expenses Of government.
Reduction of taxation, which also is perman-
| ent.
The arithmetical gentlemen, who
amused themselves by the percent
age method of clccting Greeley, can
take these items and determine in
just how many years the country
will be ruined at the same rate of
reduction of debt and taxation.
With this record to look back
upon the Administration has the
surest Of guides, experience, to lead
it on for the coming four years, and
it is able to predicate with almost
absolute certainty even better re-
suits than have already been
achieved, if the Congress shall be
willing to meet with generous con-
siderations it's plans and recon-
mendations' The most prominent
Of these will be to give the Sccrc-
tary of the Treasury authority to
fund, as fast as possible, the entire
Understanding debt at lower
rate ofinterest. The circumstances
are now becoming highly favorable
to accomplishing this, and will con-
tinuc to grow more SO while general
peace prevails. The production
and accumulation Of capital is pro-
cceding at 4 prodigious and UNI
precedented rate in this country and
Europe, under the vast improve
mcnts and multiplication Of nachin-
cry, in the more perfect methods Of
industry, and the higher education
ofthe working classes, new discov-
cries in science, and general ad-
vanccmcnt of ideas that mark the
present period. Mines are yielding
uncountcd riches. Labor is direc-
ted to useful ends, people are learn
ing how to economize forces and
classify industries so that the high
est results shall be secured. The
world can do more in one year now
than it conld in two years twenty
years ago, and this increase Of
power tells in the accumulation of
solid and permanent capital seek
ing safety and profit in permanent
investments.
The credit Of the country is good
and rising. We have during the
administration of General Grant
proved, beyond all cavil or doubt,
the ability of the people to pay debt
and interest in less than twenty-five
years without checking the general
prosperity OF the growth of the
country. We have established the
determination to do it to the salts
faction Of capitalists, and have pro-
badly crushed forever all demagogi-
cal schemes of direct or covert re-
pudiation which have been started
at various times during the past
few years. By the reelection of
Grant we have strangled a legion
of disturbing Influences, such as
charlatanry in political manage
mcnt, visionary theories Of finance,
and all those experimental notions
and uncertainties represented by
and measurably embodied in the
Philosopher Greeley and his whim-
steal disciples Tilton and Upton,
or the adventures Farnsworth and
Fenton. We have given the finish
ing blow to the last hope of seccs-
sion; made sure that the false and
disorganizing theories Of the South
ern school Of politicians are not to
prevail; that this is to be one coun-
try, with one policy for South and
North; that peace, good order, equal
rights, the encouragement of in
dustry, tho repression of lawlcss-
ness and the promotion Of intolli-
gcnce by all proper and constitu-
tional means are to be among the
grand and settled purposes of these
United States. Before us are four
years of regular and established
rule on the line indicated, under
the direction of a man who can
stand on that lino, or any other good
one, call SUMNER" backed by an
overwhelming majority of the
American people. This condition
of the industrial, commercial, and
political interests Of the people
promises an unusual degree of per-
mancncy, and must greatly enhance
our credit. We arc now whore we
have been striving to be-where we
fought to be. We have peace,
liberty, constitutional government,
nationality, established policy-a
wide and tree field; humbugs voted
down, disorganizers buried in q
,yovo Of nopular contempt and all