Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1876-09-28
. PROUD RECORD.
THE FINANCIAL RULE OF
THE REPUBLICAN PARTY.

II u
| WHAT HAS BEEN ACHIEVED IN TIE WARS sINCI
THE wAR-THE NATIONAL DEBT DEcRRAsRr
$3.50, ,000, 900, TAXES REDUCED, THE GOVERN
MENT CREDIT RAISED, AND HEAVY SURPLUS
REVENUE ANNUALLY ACCRUING-soNETHING
FOR BOGUS REFoRMERs TO READ.
Special Correspondence to Gin. Gaz.
WASHINGTON, Sept. II.
The following able and exhaustive letter OF
Assistant Secretary of the Treasury Conant,
in relation to the financial progress of the
Government since the close of the war, fully
explains itself 1t is a complete answer to the
Democratic lies current in Indiana and other
parts of the country:
TREASURY DEPARTMENT, }
WASHINGTON, Aug. %, 1S76.J
Hon. A. IL. Crdgin, y. s. Senator:
SIR-In reply to your verbal inquiries con-
cerning the amount of the reduction of the
public debt, and of the interest thereon, the
expenses of the Government during the past
fiscal year as compared with former years, es-
pecislly that of 1860; the amount of receipts
for the past eleven years, and for what they
have been expended; the amount of defalca-
tions of public officers; the condition of the
public credit, as compared with like period
previous to the late rebellion, etc., ETC., 1
have the honor to transmit herewith certain
official tables setting forth, in part, the infor
nation desired, and in connection Herewith
to state as the reduction of the debt and i'm
terest, that, from these tables, and from the
records of this Department, it appears that
from the 1st day of March, 1869, to the 30th
day of June, 1876, the public debt, as repre-
sented on the books of this Department, has
been reduced S426, ,O23, ,915 OF, and the annual
interest charge on the debt during the same
period has been diminished S31, ,2S5, ,2S1.
From August 81, 1865, when the represent
ed debt reached its highest point, TO March 1,
1869, the reduction appears to have been
$3.50, ,96S, ,331 AZ, making total reduction of
the represented debt to June 80, 1876, of
1856, 992, ,246 A.
Your attention is also invited to the follow
ing official statement of receipts and expendi-
lures of the Government from 1866 to 1876,
inclusive, being the eleven years of peace
since the late war of the rebellion. II
From the above statement it will be seen
that the expenditures of the Government have
decreased from $3.50, ,S09. .416 SO in 1865 to
$25S, 459, 1877 80 in 1876, and that, with the
single exception of the year 1878, there has
been decrease in each year.
In explanation of the increase for that year,
or rather for the unusually heavy reduction of
1872, it should be remembered that in 1872
the Government received from the sale of sur
plus arms and from the sale of condemned
property an amount of about $13, 3,0OO, 600,
which, under the law as it then stood, wass
credited to war appropriations as 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 that year by that sum.
Since the passage of the act of May 8, 1879,
have not been thus credited, and, consequent
ly, the reported expenses of the Government
since that date appear larger than they would,
had the practice of deducting such repayment
been continued by the amount of such sales. |
There has been, however, during the last
eleven years, by the expenditures as reported, |
an average annual reduction of expenses of
$23, ,S49, ,965 AZ, and the expenses for 1876 are
less than for 1866 by $262, 349, ,619 66.
This decrease has been made in all the classi- |
fed items of expenditures, excepting pensions,
Indians, and civil and miscellaneous. OF |
these there has been an increase on account of |
pensions, of s12,652,043 "a; on account of
Indians, sane, 493 81, and of civil and mis-
cellaneous, of $25, ,9O1, ,412 "a.
The increase of the pension expenses has
arisen from the extension and increased allow
inces of pensions; that of Indian expenses
from repeated disturbances on the frontier,
md from the necessity Of granting to several
ribes increased gratuities.
The details of the increase in the amount
If civil and miscellaneous expenditures are
yet forth in the accompanying table. Notably
mong them are
oostage in lieu of franking priv
ilege:. 81, $50, 100 So
Refund of proceeds of captured
and abandoned property. 1,O26, 636 81
Deficiencies in postal revenues,
arising principally from re-
opening the mail routes and
postoffices in the Southern
States. 1900. 4,517, $40 SO
Exhibition, 1885,. 1, 1906, 1897 O6
congressional expenses, on ac-
count of increased number of
Senators, Members, etc. 1,4S7, ,7S4 7S
expenses of Courts,
arising principally from the re-
establishment of courts in
States lately in rebellion.. 1,755, ,1S9 40
Increase of expenditures in
printing notes, mostly to re-
issue. ~ ......:.....::...'. M 1,o54, ,147 OF
Increase of expenses of collect
ing customs revenues, owing
largely to the reopening of the
Southern ports, and the aboli-
ton Of the moiety SYSTEM. 1,34S, 400 42
1creased debentures on draw
backs, strictly speaking not an