The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1880-09-09
sTAUNTON, VIRGINIA, SEPTEMBER 8, 1880.

,, the first Of July, 1880, and we only wait the
maturity Of 1920, 645,300 the balance OF tht
Il five and six per cent. bonds, to reduce the in
: terest charge to not exceeding $70000000 A
republican administration is now paying the
the public debt at the rate of ten millions q
: month"; or two and a half millions a week In
} all probability, before this administration
4 closes its term, the debt viii be further reduced
l seventy millions, making saving in annual
: interest of four millions OF dollars.
6 The democratic party pursued an exactly
! opposite policy From 1857 to 1860, when
MI buchanan was President, 1t steadily IN
4 creased the public debt from $9,99S, 62l .76 to
$59, 964 400 OF. At the close OF that period it
: paid as high as twelve per cent. on one-year
treasury notes, and sold six per cent twenty
year bonds at eighty nine cents on the dollar.
/ While the debt was being reduced by the re-
publican party the democratic party impaired
the public credit by proposing schemes to
I cheat the public creditor. Its influence was
the chief obstruction to the debt-paving and
!, Understanding policy of the republican
: party. In states where it has the ascend
ency, like Virginia, Louisiana, Tennessee, Mis-
sissippi and Arkansas it has either repuCiated
the state debts or threatens to do So Its sue
I cess in a national election, would, in my judg
| ment greatly impair the public credit and
reduce the value OF public securities.
FAITHFUL COLLECTION OF TIE REVENUE.
Then, again, under the administration of
President Hayes, the revenues of the govern
ment have been honestly and faithfully collect
ed and honestly and faithfully disbursed. Dur
ing the three years this administration ending
June 80 1880, there was collected from all
sources 1864 S76 359.93. All this vast sum has
been paid into the treasury, excepting about
$4,000, and it is believed even this sum will
be recovered. The internal revenue collected
in every part of the United States has been paid
into the treasury without the loss OF a dollar.
During the administration of James Buc-
hanan the loss by dealcations of public officers
in the collection and disbursement of the pub
lie moneys was 1881 on every $1,000 during
Pierce's administration it was $3.50; during
Folks administration it was $4.0S; during
Jackson's administration it was $7.59; during
Van Buren's administration it was Sill.
Mark the contrast with Republican administra-
lions:
In Lincoln's time, embracing the reckless
ness caused by war, it was rs cents. For six
years of Grants administration it was 81 cents
In Hayes administration thus far-assumng
that all amounts in dispute are lOst-the loss
on 81 900 would be so small that the smallest
coin Of the country would make it good three
times. 1t has been but One-third ola cent on
$1,000 OF the amount involed.
REDUCTION OF EXPENSES.
Again this administration has effected
striking reduction of the expenses of those
branches of the public service over which the
executive has complete control. The expense
of collecting over $188, 100000 customs duties
during the last fiscal year was only 3 Ito perl
cent, while the expense Of collecting So, 000,
900 in 1860, during President Buchanan's time,
was 9-10 per cent on the amount collected
Just double. On the list of July last there
was returned to the treasury ~, 100000 of
money that had been saved out OF the apprO-
priation for the collection of the customs reve-
nue.; and in the expenses fOr Tefunding the
loan for which an appropriation Of one-half OF
one per cent is made, the Treasury Depart
ment returned to the Treasury on the list of
July last 81 100000 saved. The Secretary of
the Navy has returned to the Treasury very
large sums saved by careful and honest adj
ministration Of that department. There was
carried to the surplus fund on the Both Of June,
1880, SIS, 434 4I6, money appropriated for the
different departments for that year and re-
manning unexpended. Does any one believe
that Democratic administration could have
attained these results?
RESULT UPON BUSINESS PROSPERITY.
And what has been the result OF Republican
administration under President Hayes upon
the general business interests of the country
| We have witnessed, and we are now enjoying
the greatest revival of business of modern
times. We have leapcd forward from period
|
Our exports during the last fiscal year reached
the enormous sum of 1885 100000, being an
increase since 1875 Of over $500, 100000. Our
imports during the last fiscal year were $685.
100000, being an increase since 1875 of $780,
100000, and making an aggregate foreign COM
merce of the last year of over 81 00O00000.
We now feed Europe not only with grain,
but with meat, butter, lard, canned fruits, and
an indefinite variety of other productions.
With plenty of money as good as gold, with
| plenty work for all who are willing to work,
with cheap capital, we have now superadded the
most bounteous crops that ever blessed any
portion of the world. Think Of wheat crops of
10000 600 bushels year, and corn crops OF
about l. 800 600, 900 bushels a year. and every
thing else in proportion. For these high prices
have been realized The addition to the wealth
of the country for the last three or four years
Can scarcely be estimated. We know that our
government debt ,fornly largely held abroad, is
now almost exclusively held at home that the
| mortgages upon our lands and farms have
been reduced to one.third their amount in 1875; !
that the balance of trade is so largely in our |
favor that foreign countries, no longer able no
send back our secureties, are compelled to ship
gold. The building of railroads keep pace
with our general prosperity. They are cross
ing the plains and exploring every valley, and
year by year we hear Of new settlements of
fertile territory hitherto unavailable for tilage,
whose surplus products increase our resources. |
The number and amount of business failures
have been reduced more than One-half. In
word, all the circumstances and elements that
indicate increased wealth and prosperity to our
whole country seem to combine to make its
immediate future exceedingly bright. The
rough road has been travelled and the smooth i
one is now before u.s.
Our national prosperity has excited the at |
tention Of all European nations, and has set in
| no eft Of inn ante
whose labor has added so greatly to our
growth and productions. The number who
arrived during the last fiscal year was 400, 1856,
against 1855 in 1879. During the month of
June last 72, 567 immigrants reached our shore, |
and since March /, to the latest date Of which
we have reports, the number is about 32S000
or more than enough to form a state.
THE CAUSE OF OUR PROSPERITY.
We can fairly claim that the renewal ofbus-
mess is the natural result of the policy OF the
republican party. Every pubic measure that
has contributed to it was a republican meas
ure. An honest and faithful administration of
the government: a firm adherence to the re-
sumption and reftlnding act the maintenance
Of the public faith as against fiat money, and
the protection policy embodied in our tariff |
! laws, are the human agencies-the work of
the republican party-that have contributed |
to our prosperity II is true that Providence
gave us bounteous crops, but these came after
resumption was secure, and after we had laid |
the foundation ofhonest money and diversified |
| industry, which enabled us to improve the |
blessings of Providence. Certain it is that we
owe no part of our prosperity to the democrat
ic party.
| DEMOCRATIC PRETENCES.
The party for more than five years has had |
control Of one branch of Congress- and for
nearly two years of both branches What has
it done, or proposed to do, to benefit the pub
lie, or to evince any disposition to bring about
reforms? 1t set out with u great pretence of
reducing the expenses Of the government. 1t
clipped here and there the salaries of clerks or
reduced their number, and in some cases seri-
ously INSTRUCTED the public business, II with
held necessary appropriations for a time to
show reduction of expenses but was com
PEELED to make them good by deficiency bills
| have before me a table showing the appro
| priatiOns that have been made by CONGRESS- |