The Findlay Jeffersonian. [volume] (Findlay, Hancock County, Ohio) 1870-1881, 1876-09-08
SPEECH OF
HON. CHARLES FOSTER.
or Ohio, i'm the HouSe Of Representa-
tives, Mondday, August 1 4. 1876.

| The House IhIiI..uri federation the
| report OF the cOuiniii,,. oi conference On
| the disagreciBe V"ie. al tha tw.. Houses on
| the Senate aTnrBdrn' his Ip the Indian ap
proprlatlOn bill
MT FOSTER saI'i
Mr.. SPEAKER. Ny pIrpus.. IN addressing
the HOus Al This lime il to show what has
been done by the House In the line of econ
| omy and reforIn- 50 much has been falsely
claimed by the democratic side as 10 render
| fair statement nee Asary.
The mins mtg of the COTunittee on Appro-
priations. supInr ed by the minority OF the
House. entered upon their duties with the full
determination OF aiding the majority in
max King every possible reduction and post
poneInent in the expenditures. We fully re
allied and appreciated the demand of the
country for economy and were therefore PIE
pared To join hands with any party In Com
gress TO provide proper measures OF economy
that would not cripple the Government or
cause friction In sse workings ofthc Govern
ment machinery
While the people of the country have
rightly demanded economy at the hands OF
their representatives. they do not ask nor
will they long permit the real functions of
government 10 DE impaired or weakened
either at home or abroad.
since the cuIminatiOn of expenditures in
1866 "A steady, prudent, and entirely Safe re-
ductIon in the expenses OF the Government
year by year has been the policy of the re-
publican party. The precedent thus set should
have reached their lowest possible limit.
We were willing TO admit that in the re-
duction OF salaries and the number OF EN-
plOyes an opposition House could be more
thorough than one in accord with the Ad-
miEistration. We, therefore, recognizing
this fact, determined to obtain all that might
he possible from IL. We believe that the re-
ductlons and posiponements might safely be
made aggregating a sum OF from fifteen TO
twenty millions of dollars. We now be-
lieve, after having thoroughly examined the
aierft nQf r&An
OF expenditures for the present fiscal year
could properly he made to the full extent OF
s30,Ooo,OO0 without seriously impaiTing the
administration ofthe Government. We have
not been able TO agree in many instances
with the bills as reported, and have tried TO
Indicate our objections by amendments 10
the House.
FOR my sell, i believe that the appropriations
ss proposed by the House would have, In
many cases. caused serious embarrassment
10 the Government and that the appropria.
tions as fully agreed upon Will have 10 be
supplemented by increased appropriations
when we meet next session. In fact am
cOrroberated in this statement by the chair
man Of the committee himself, who, in order
TO carry his point when all other arguments
failed him, has repeatedly stated on this nf or
that II the amount of appropriations then
pending was not sufficient we would be here
next session when a further appropriation
might be made fit was found necessary. He
has suggested 10 officers charged with the
administration of the Government when re-
fusing TO appropriate the sum they deemed
absolutely necessary, that 1t would be made
riQht next session. / make the prediction
now that further appropriations aggregating
millions OF dollars will be made at the next
session TO defray the expenses of the Govern
ment for The present hsca. year
FINANCIAL CONDITION OF THE TREASURY,
No great financial embarrassment OF the
Government was or is impending to in any
degree warrant the postpOnement and with
holding OF any needful or necessary appro-
On the scale of expenditures of the past
two years our revenue have been ample for
the dischare OF every liability OF the Govern
ment, Including the sinking fund, as the fol-
lowing letter from Assistant Secretary Co
nant fully dfscloses:
TREASURY DEPARTMENT, July q, 1876.
MY DEAR SIR: In compliance with your
Verbal request L have the honor to inform
you that
The amount required for the sink
ing fund for tine fiscal year end -
ing June SO, 1876, ,U96, SIS 20
During that year per cent. $50
bonds were redeemed and paid
for from cash in the Treasury 10
the amount tof...........-.....-..-25 %, 10 iOO O0
In addition TO which, under the
provisions of the specie resump-
ton act of January, 1875, s6,2 40
In legal-tenderB were retired,
making total redemption OF
the debt on sinking-fund ac-
count during that year of.-....-.. 81 so, 80 W
The estimated amount tG be ap"
% fiscai year ls76 was.............. s2.29se9a S2
On this account 8 per cent. $50
bonds Were redeemed and paid
for in gold 10 the amount oI-.... Is. .iII go %
Fractional currency was redeem
ed and applied To the account,
under the prov isions of law, to
the extent of...............,.... 7,OG2,l42 60
Legal tender notes amounting
to IS, $50 ,2yG were also retilea dur
ing the year. --
These several Items aggregate the -
Eum 81 ,oOo, W
| 1t will be observed from the above state
menls that, during the fiscal year 1875, the re-
demptIOn on the sinking-fund account was
| ssO2 265 in excess of the amount required, but
| thai during the fiscal year 1876 they did not
| reach the amount necessary by tie sum oil
| SdS5, ,i21 81.
| Twill add that during the fiscal year (lS75)
the principal of the certificates of indebted
| ness of 1870, issued under the act OF July, ls1O
| bearing interest at the rate OF per cent
| amounting to S7S,0O0 matured and We're paid
| out of the current revenues of Ihe Govern
| mant. If this were to be taken into the ac
count as per cent payment of the prlncl'
| pal on the public debt for sinBing-iund pur-
| poses, then the sinking fund during the past
| Two years would more than have been pro
| vided for. Very truly yours,
CHAs. r. CONANT.
| Hon. CHARLES FOSTER,
House Of Representatives., HdShiHgtOn, ID Z
| Since the commencement OF President
Grants administration more than soDOOOo!Ot
| of the public debt has been paid, thus more
than doubling the requirem ents OF the sink
| ing-f
1 Il
iorty millions had obtained as proposed by
| our democratic friends. the surplus OF reve
nue. over expenditures would have been sISi
OOO 900 for the current year.
| We have the authority of the present Secre
tary ofthe Treasury that the revenue for the
fiscal year ending June 30, 1871, may be safely
| estimated as follows:
| ,,uStoms .............,, $50. 600 OOs
| InIernaI revenue =. ................ l2I,W U OO
| Niscellaneous - - 1900 OO
| r,., oaI nOn on
| FxpendItures Tor the Year I676..-. 25S,C00, 90
--
Surplus ..-.-..... .-... ........--... 5000 20
| Add proposed reduction by the
democratic cHouAc......----..-... 100000
-
Surplus i0,I year ending June
20 is.7, if reduction had been
made ..... ......-.......-... 73 Geo ~
Lab o,,r ,l,.n,ocrot,c triands xvha, they pro
- 10 10 viii, his iar1e s,ITnIus was M
P''Se " ~. ~ ,i, *, = tn,,f 10 oiJ 1;oy
/ Pui r rs rI - -. - y, ,,,Sa soaci., ,aynaurs a
,r e',riii'r daie Than Is7a would like
,,t, n -, ",,,,.,i',n ron In, SofI.mnne,
w ,.i, -, ~, a. IL mas ra6a,
II 80 -. ,t'l ',,.,,,,.nIan from Mississinn
al - yl,In,,I 80 s.,'II, ~, tha s.ion sncii 4
-, - a. - -, a., sl,,,i,..,,, pa.iti.. RaiIroa
.e , ~ A 1; 8 ~ ~ i,t f.1.S iir 80 ~ 70 ma,
anu - - t,'I,ip r. S,,iIIio,,s ,,rcIair's bIIi
M I,;s,, i,,'i. h,.,.,, In'pnin1.aJ nv ,,eI
~ ~ - -. a., S,NI1,h ,rI,i,.,, ,,.s,,,Ii 70,
tIe n'iI Ii'il , ' nc. ~ IL ,.,,'.,, o'
oeeh Pi.e1Iu put i;o w. . '''
pTtsiuenllal e. eieGllon ,t' ,,,s ,,,,,o, ,roS nh
~ toi nohe VI tnsHe ie''' OAi'' " We" 49,
purpose ,.-. -, .,. ,,,,
II you ue>ire " IeIieno ny FL PsSoPi. -, ~ =
nave you not pIoPoseu ieuu0tioii vi "'N
auon =, an,
hcuuCtioh VI aPP'OPI . !" - 2, 80, a.. " - =
responding reuuctloI oI taAes Wii h"' "o ~
- - 49, .-N - - -
, chIcpIr D. N 81, IN -.'c.Il.i1Ia.-. en a
|; Inc chairinan OF tne go M I e, m,
l. much creult ioi tne @ nv S N,iS "o i - ,iIr
:, ,,a,Sl 1 20 biT, ,r,o, tfnJnsIrv and r,iibfu
II concede 10 IlIh grehL lnuustIS anu -ah.niu It y,
a hcss W tIe Put iose nc ii1u az :" - -
cirreu tuenI thIOusn tiIe 81 s ~
| " rs ne mas repoFbeu tilsiis nc hf.S ~ uohe W W