The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1876-10-05
A PROUD RECORD.

A PROUD RECORD.
THE FINANCIAL RULE OF THE REPUBL1CA
PARTY-WHAT HAS BEEN ACHIEVED l.
THE YEARS SINCE THE Wharf.-The NATION
AL DEBT DECREASED $657.eOOO 900, TAKE
REDUCED, THE GOVERNMENT CREDI
RAISED, AND A HEAVY SURPLUS REVENU
ANNUALLY CRUING-SOMETHING FOl
BOGUS REFoRMERS TO READ.
TREASURY DEPARTMENT.
WASHINGTON, Aug. 20, 1876.
Hon. A. H. Cragin, U. S. Seaator
srH-In reply to your verbal inquiries concern
debt. and Of the interest thereon the exnenses
the Government during the past fiscal year a
compared with former years, especially that Q
years, and for what they have been expended
the amount OF defalcations OF public officers tn
condition of the pubic credit, as compared witt
like period previous to the late rebellio ion. etc
ETC., have the honor to transmit herewith Ger
tain official tables setting FORTH part the infor
nation desired and in connection Herewith 4
state rs to the reduction of the debt and interest
that from these tables. and from the records 10
this Department, it appears that from the LIST ia.
OF March, 1869, to the Seth day Of June. 1876, tn,
Department has been reduced $426 O23. O2. ant
the annual interest charge. on the debt during
the same period has been diminished &31, 285,26l
From August 81, 1865, when the represented
debt reached its highest point, to March l. 1869
the reduction appears to have been $780, s3l do
making total reduction of the represented deb
to June so, 1876, OF 1856, 49,. 24644.
Your attention is also invited to the following
official statement Of receipts and expenditures Jpi
ing the eleven years OF peace since the late wal
Of the rebellion
From the above statement it will be seen that
the expenditures OF the Government have de.
creased from $500 1889 in 1865 to 1858 IS
in 1876 and that, with the single exception Of the
year 1873. there has been decrease in each year
In explanation OF the increase for that year or
rather for the unusually heavy reduction OF 1872,
1t should be remembered that in 1872 the Govern.
ment received from the sale OF surplus arms and
from the sale Of condemned property an amount
of about $13, 100000, which, under the law as it
then stood, was credited to war appropriations As
a repayment for an amount Of money returned to
the Treasury. which. having once been charged
as an expenditure, but being returned, was cred
tied back thereby reducing the expenditures OF
Since the passage Of the ACT. Of May 8, 1872, the
proceeds of the sale OF such old material have not
been thus credited, and. consequently, the repor-
ted expenses OF the Government since that date
OF deducting such repayments been continued BY
the amount of such sales. t-s
There has been, however. during the last eleven
years, by the expenditures as reported. an aver
age annual reduction of expenses of $23 849, $685. 49,
and the expenses for 1876 are less than for 1866 by
$3.50 ,349, 1885, i-s
items of expenditures, excepting pensions, In
dians and civil and miscellaneous. OF these there
$l2 $50 O4334; on account of Indians te Cd,
and of civil and miscellaneous, $25, 90l 412 "a. ri
The increase OF the pension expenses has arisen
from the extension and increased allowances. OF
pensions that OF Indian expenses from repeated
on the frontier, and from the neeeS-
sity of granting to several tribes increased gra-
tuities. tE
The details of the increase in the amount of civ
il and miscellaneous expenditures set forth in
the accompanying table. Notably among them
are: ee 4tgsF
Postage in lieu Of ranking privilege. ST. 49, 100 SO
Refund of proceeds of captured and 91
m posta r
ing principally from reopening the sI
mail-routes and postofices in the
Southern States A, SIT, $40 Sc
international Exhibition 1876. 1896, 337 .06
expenses, on account OF mi
increased number OF Senators, Mem gagA
beers. etc. 1,487,7sl1s
principally from the re-estabish-
ment of courts in States lately in re-
bellion. 1755.lss.l 30
+ notes, mostly to replace the old and
mutilated issues. Io54,l47 81
toms revenues. owing largely to the
reopening OF the Southern ports, and
the abolition of the moiety system. 1913 4eo.4s
strictly speaking not an expenditure.
the amount being merely a return to 1s
importers of money previously paid
by them as duties, the return of
which they are entitled to upon the
transportation ct the merchandise.. s,les,5os IS
Increased expenditures for lighthouse
es, principally along the Southern
Increased expenditures for public -
WORKS. 4,483, 81
The other items OF increased expenditures are
numerous and comparatively small in amount,
arising largely from the material growth Of the
country. gf.s s-r5-.s,.3 s.ttf rs s4sfz
ton that during eleven years of peace there have
been collected through Federal taxation thirteen
times the amount of the legal tender notes, and
dered in useless expense, have to state that the
amount OF legal tender notes outstanding, being
$685.. 228, thirteen times this amount will give
as the alleged amount of Federal taxation during
the period mentioned g. 805 1884, and four times
the amount will give as the amount alleged to
have been squandered in useless expense FL ATE,
476,912 but as shown by the above official table
the Government during the eleven years since
the. war. has in fact received from taxation only
as follows:
From duties on imported goods Isl 973 58s, s2l 81
From internal revenue taxes 1896 89, 81s 81
FROM dlfect taX..... ............... 9,947,3 306a
In all. Observation-Disclosures. sos. 722, 7s5 Il
Or less than the amount alleged by $685. ,158.-
80. 1870 t7s.51i -,i .ll.t.. .!.s u. tifgHA Sss3 /
In addition to the amounts received from such
taxation there have been received however, dur
ing the same period, amounts as follows: H. /
From sales OF public lands. 1922 100 s57 81
From premium on loans and sales Of $50 /
From miscellaneous sources, such as
profits on coinage. sales OF con-
n
come from seal islands, etc l93, Os3 993. 81
But these amounts are in no sense derived from
taxation. Combining them, however, with the
amounts received from taxation, as1abeve stated
period in question will be but $4l92 6S3, 80i "a
which is less than the amount alleged to have
by te Ry
ing the past eleven years, there have been paid
For interest on the public debt sl4 s45 2t
For redemption OF the public debt 656, 1922 246 q
For payment OF claims arising from
the war. ,bounLieS, premiums on
loans, as against premiums re-
ceived, as far as aScertained by 4 81
careful examination of the books ~ ,.st !.
OF the Department.. ........... COS ,258 407. 8;
Making in all a. 1898 ss5 49, and leaving to pa,
all the expenses OF the Government Tor the elev
en- years, army, navy, Congress, the civil list, In
dians foreign intercourse, including the purchase
the Government In handling the debt, COLLECTING
its revenues, ETC., only 1925 8O8 Ol. which, il
will be noticed is less than the amount alleged t.
In the matter of keeping the public expense:
within it's income, it will be seen that notwith
standing the heavy expense. for interest on thu
public debt, payment OF pensions and claims arts
ing from the war. as above stated, the Govern
ment has met all its other current obligations
and had surplus yearly income over its expense:
as follows: sjEla@ssf3 /
In 1866. ACKNOWLEDGEMENTS. $37 1928 2Os O
1851 80. 1873 09l, 1876
1oso 2S,S9a !sS4
1870.-.. 10l gu, 8
1871 81 LAG, 1866
1872 81, $50, 1904
y 1879 acknowledgements. AZ, 392, 8
1874 2,3l4, 1872 8
1873 1886, 6582
1876. 9,092, PALS
M In all............. 1924, l65, 126. ]
Meanwhile, the taxation has been reduced sine
the war an amount, estimated in the Finance Re
port of 1872, of 5000 $50, Ill 90. lassgsi III II s
Concerning the losses from defaulting officers
it will be seen, by reference to an enclosed state
ment, that such losses have attended every Ad
ministration OF the Government since its organi
cation, aggregating to June 80. 1875. the amour
OF $50 1903 $780, the ratio OF loss per $1,000 to tn
amount involved, being, in the respective Admin
istration, as follows:
administration OF George Washington. .....,. 90
l : John Adams. ......... l.. 2.5
- Thomas Jefferson. ........ 81
James Madison. Al
4t. James Monroe. ........... 81
]. @. Adams. ................ Al
= Andrew jackson. ........l rs
Martin Van Buren, ........ IL Z
g VIM. Henry Harrison. 49,. :.
/" John Tyler. .............
s. James X. Polk. ............. AZ
H..