The daily gazette., 1878-09-07
THE REPUBLlCAS BALANCE
SHEET.
From the N. Y. World.


From the N. Y. World
The speech of President Hayes from
the grand stand at st. Paul is a carefully
prepared extract ssof the records of the
Treasury Depar inent designed to ex-
hibit the admirable progress that the
country has made since the close of the
war. 1t is shown that the deDt has been
reduced; that the interest on the debt has
been reduced; that the amount of taxes
levied has been reduced; that the ordinary
expenditures have been reduced, and that
the balance of trade has shifted in our
favor. The inference suggested is that
the Republican party Is entitled to great
credit for such happy results. The facts
may be admitte Il, but the interference is
simply laughable. The indeb edness,the
interest, the taxation, the rate of eXpen-
diture, and the condition of the foreign
trade at the close OF the war were simply
intolerable and had to be modified. The
only method for testing the administra-
tion ofthe Republican party is 10 CON
slider whether the public debt was reck-
lessly created and unwsely augmented
through unfortunate blunders in regard
to the currency; whether the interest was
toO hiSil3 WllClilti llit were
eXhorbitant; whether the taxef were iud
iciously LEVIED; whether the errors origi-
nally committed were remedicd wi h due
haste, and whether the habit of extraya-
gance so easily contracted was willingly
| flung aside. In word, without disput-
ing Mr.. Hayes ingeniously compiled
| figures, the question remains to be con-
| sidered:-lIow much of our gain has
| been made in spite of the Republican
party rather than through its influence?
The career of that organization must be
Judged, not by comparing our condition
now with our condition ten years ago, but
by considering how far folly extravaganza
and partisan bigotry contributed to our
evil then and how far they have retarded
our recovery. If the President could
show that every cent of our debt was
paid, that fact would not excuse the Re-
publican party if the debt was twice as
large as it should have been and if its
payment had been made three times
more bnrdensome than was necessary.
Judging matters by money standard,
we do not think the results attained by
the Republican party after an expentIi-
lure o1 nearly fourteen thousand millions
OF dollars in eighteen years anvth1ng Ia
be proud of; and if the nation j. in a bet
ter financial condition, considered as n
business corpora ion, than it was in 1865,
the people are SO much worse Oft now
than they We're taen that they can hardly
ENJOY The lmpr DVement which the Uni.
ted States Treasury accounts exhibit. II
Is true, as Preside / Hayes says, that the
Government seemed insolyent thirteen
years ago, while II is certainly solvent to.
day; but thousands OF the peonIe who
We're solvent thirteen years ago are bank.
rupt now. The fallacy of this arpu1nr nj
from conrasted figures to winch the
resident does not give parti> an apDli-
canon but seems to Indicate one, is like
the fallacy IN Macauldy's celebrat, d pic.
lure OF England under the StuartS as con
Irastea win England OF the present day
5 wherein he contriyes to puf all he pro.
greSs 10 the credit OF the Revolution al
ls'S. The trae way 10 test the career ot
the hepuDhcan patty is to reckon up its
I works and the cost or them 1t put down
the Rebellion, but after much bIunder
1 ing ana lllS1Hanagement. 1t freed tnf
slaves, but by the sacrifice of n whit.
mans life for every negro man liberated
{ and by the expenditure ofInonev enourl
to buy every slave III the South AT "A fai,
market price. 1t rtcon,Uruutrd the re
belllous States, but weighed them dowt
with burden Of dishonesty contracte,
, debt, 1nterfered with civil libery and dis
Braceu the whole country by til,
knaverleS OF The carpet-baggers. 1t bull
! the Pacific Railroad by grant of none,
J and ,aEd, and virtually bestowed tn,
great work upon "a private corporatio,
guilty OF the Widest bribery to attain ID
ends. 1t has squandered hundreds of mil
lions ON our navy, and we are withou
effective war sh ps. 1t has almost brouph
about the resumption of specie payment
but only after the most curious course q
l financial jugglery with irredeemabl
r paper, which it sometimes considere,
receivable for debts contracted in gol,
and sometimes considered insuffic cien
tender of debts contracted in paper. /
9 boasts increase of foreign commerce aft e
, almost throttling 1T by tariff Ii i
proud of reduced expenditures after be
ing compelled to the reduction by
Democratic House of Representatives
. Verify, if things are in good condition
which is, to say the least, doubtful. W.
owe little thanks to the Republican
lpartT.