The sun. [volume] (New York [N.Y.]) 1833-1916, 1878-08-14

t7e 900 900. being at the rate OF over 1890. 900
but. say the advocates Of the Resumption act.
this contraction was necessary in order TO re-
sumo specie payment on January l.. 1879.
gin specie payment. and it is quite another
thing to maintain II II Is quite probable
and that most, II not all. of the banks can begin
to pay specie for greenbacks at the same time;
but the great question remains. Could such spe-
ciu payment be mniutaned7 II II could not.
why should the people be ground between the
upper and the neither milestone in order to ho-
gin specie payment somewhat earlier than the
condition Of the country would insure its con-
tinuanco2 On this question. the following facts
Grcat Britain and Franco are prominently
the hard money countries OF Chrstendom. The
former has. In coin and bullion, about three
dollars for every dollar OF her paper money.
OF course. she can maintain specie payments;
a. least, so long s,d Gs she avoids war. France
tain specie p@ymeni But the United United states states
have. at least. three dollars in paper for every
dollar in coin. and even n littlc war, or change
IN the balance OF trade, might, So long ~ that
disprOpOrtiOn exists, mako shipwreck Of their
pretended specie payment According to tho
best information ! can obtain the product Of
our mines Is likely To fall oil. II Is probable
that the maximum product has been reached,
and that. unless now and valuable mines be dis
covered. there will hcncoforth be n steady de-
crease of production: but. nevertheless IL the
balance of trade should continue in our favor.
the influx Of gold and silver together with the
product OF the mines would enable us to begin
and maintain specie payments quite rs soon rs
justice to the debtor class would permit lfthis
be- true why resort to forced resumption Why
crush the unfortunate In order to anticipate by
comparatively brief period. an advent that
would come naturally anu unattended with Sc
we're distress
2. now turn to another topic the expondl-
lures of the Government to which too little at
tention has been paid. propose TO compare
Democratic expenditure with Republican ak
pendture. in order that you may Judge which
Of the two parties Is the better entitled 10 praise
for honest and economical Government: or. to
put II in another form. which party ought 10 be
condemned for dishonest and wastcful cxtraya-
game
tion was that ending June 80, 1860. The ordi-
nary expenses of the Government for that year.
exclusive Of pensions and interest on public
debt. were sjs.9j5.9j2.
These expenses. stated in detail were emit
ting ccntsl
For the War Department t722o2
For Indian Department. .................'... 2mi III
For mis-, eilaneO evil ............. % 81 y1-
Now compare these expenditures with those
Of the last year in which the Republican pnrty
had unlimited control the fiscal year ending
June 80 1875. The ordinary expenses Of tho
Government for that year Exclusive of PEN
G2S sga " beiss ssh gqS exc @ee T the
last year OF Democratic administration; or. in
other words the Republican expenditures were
Democratic expenditures. But II may bo said
that our population was much greater IN $50
Iidll II wis III lNNN Nuu lllut UllS accounts itt
the Increased expenses Of Government THIS
explanation will not suffice. The population in
ls6O was 81 1881 and the expenditure were
nj the rate OF slSI T. per capita. In 1870 the
population. ms nearly ~ II can bc estimated,
was $4,000 900 and the Expenditures were Ut the
Again. Il may be "a d. that the increase Of *.
pcnscs grew out Of the war This explanation
Will not answer. In the figures have given
and those shall hereafter give. exclude the
expenditures accustomed by the war. namely
pensions. the public debt and the interestth ,rc-
FfHN .fuf.. III NaH.N
expenses OF Government, namely. the cot uf
the War Navy Indian and Civil Departments
in time Of peace. Tho increase in these do
rertments is shown in detail In the following
B.'oga
wsr ncpar,ment... sie.7s 2o2 az is,sis s2,ais q!
MISC ianeous Or civil 27g75e5s 7i.o7t7og 800 =,
Increase acknowledgements. ss9ii7e7o
But it may be- said that tho comparison should
not be Of a single year with single year. be-
| cause special circumstances ight make such
comparison unfair; and that tho only fair mode
| II to compare a period OF several years with
| like period Very well; Jet us e"e the result of
such COMPARISON; Let US take a period
tration. and compare II with a like period
! Of Republican ministration-b0th periods
bcng years Of profound peace. Let us
take the seven fiscal years commencing
July l. 1888 and ending June 80. 1850 when
/ them with the seven fiscal years commcneing
/ july l. lsGs three years after the close - the
/ war, and ending June 10 1915 when the Re-
publicHns had unlimited control and what L.
the resulti The following table shows il:
july l. ISIS, to June 81, i-o seven wears.
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