The Manitowoc tribune. [volume] (Manitowoc, Wis.) 1866-1878, 1876-09-21
UNANsWERABLE OFFICIAL FIGURES.

The Democratic platform declares
| that reform is necessary to establish
a sound currency, to restore the public
| credit, and maintain the national honor. %
| The further declaration is made that in
| eleven years of peace the Republicans
have taken in Federal taxes thirteen
times the whole amount of legal tender
notes, and squan dered four times that
sum in useless expenses.
Charles T. Conant, Asst stant Secretary
of the Treasury. in answer to letter
from Senator Cragin, calling attention to
these statements, writes reply contain
ing figures exposing these enormous
Democratic falsehoods. The document
has not yet appeared in full in Western
papers. Judging from an abstract its
overwhelming array of figures will
make the letter little less effective as a
campaign document than one of Bob In
gersoll's great speeches.
It appears that the Republicans have
reduced the debt 1855, sos, 245. It fur
thermore appears that in eleven years
Sd, 1872, 633, 801 were received and g, $685.
46S, 675 expended. The annual average
reduction of expenses for eleven years
has been $23, 349, 965, the expenses of
1876 being 1862, 349,619 less than in
1866.
How does thir compare with the Dem
ocratic methods of doing business in
New York city and other places where
they have complete control Now York
City is the spot where Tilden has resi-
ded for forty years and held sway as
Chairman and autocrat of the Democrat
ic Central Committee when some of the
heaviest debts We're incurred there.
As to the charge that Federal taxes in
eleven years have been thirteen times
the whole amount of legal tender notes,
official figures show that the taxes for
that period foot up 1895, 1927, 1853 less
than the Democrats allege. In this item
alone, their falsehood amounts to about
one thousand million dollars, or nearly
half of the national debt.
During the last eleven years $685., 992, :
296 have been paid In interest on the
public debt, which debt was incurred IN
putting down rebellion of Southern
Democrats. MIR. Conant says that the
sum expended to pay all expenses of the
government, including army, navy, con-
gress, civil list, Indians, foreign inter-
course, the purchase of Alaska, collect
ion Of the revenue and handling. of the
revenue and handling of the public debt
is $179, $685. ATS less than the amount
the Democratic platform charge to have
been squandered.
It will be remembered that Tlden, in
his foggy letter on finances, says that
we should live within our income, and
yet it appears that under Republican
management there has been large sa-
wing of the income. The principal OF
the public debt has been cut down over
civ 1a11
| and the taxes have been reduced $780,
the percentage of loss liberalization on
every 81, ZOO before 1861, was S.. OF, and
since then it has been but fifty-seven
| cents on each $1,000.
AS to our credit being impaired, as
falsely charged by the Tilden platform,
it appears that when his party was in
power before 1861, our bonds were be-
low par and now they are above par. 1t
| is also notorious, that when Tlden and
his crowd were in Chicago bowling
for peace, in 1864, government notes
were worth about SO cents in gold.
Who impaired the national credit them
1t appears from Mr.. Conant's letter that
in the II yrs. preceding 1861 the annual
expenses of the Government were in ex-
cess of its income $57, 989, 523. The
Government issue bonds to meet it's de-
icienc1es, which were placed at a dis
count equivalent to u per cent. The
synopsis closes as follows:
Every year since 1866 the Government has
not only lived within its income, but has been
able to save, towards paying its Indebtedness,
an aggregate per annum of $50, 742. e94 20. The
losses of the present Administration, through
defaulting officers and banks, compared with
the amount of money involved, have been to a
marked degree less than those of any previous
Administration since the organization of the
Government. With surplus revenue annu-
ally accruing, and taxation diminishing, the
credit of the country, despite an indebted
ness of over two thousand millions, has been
raised.to such an unprecedented point that its
AZ per cent. bonds issued in redemption of 8
per cents, are selling rapidly at home and
abroad above par in gold,-a satisfactory con-
trast with the condition of affairs from 1857 to
1861, when the Government, with an indebted
ness of less than one hundred million, was liv-
ing beyond its income, and, to meet current ex-
penSeS, was compelled to issue notes bearing
interest equivalent to IL per cent. per aIlnllm
/ and to sell its per cent bonds at discount of
Ii per cent. on their face value.