The Stark County Democrat. [volume] (Canton, Ohio) 1833-1912, 1883-09-29
FOSTERS STATISTICS.
An Exposure Of the Attenuated Lies In His
SDeech

rer FOSTERS STATISTICS .l.l ..s y
ffAJl LII afsl a.'. &
An Exposure of the Attenuated Lies In His
Speech.
In converting with Secretary of State
Newman touching Fosters speech at
Fredericksburg, weobtained the follow
ing facts as the records show them:
When Governor Allen went into Office
in January, 1874, there was in the Tres
qry to the credit of the sinking fund
but $45, ,475.30 and in two years there
after the amount had increased to ST.
131 ,O78.64. Before the close of his ad-
ministratiOn the loan of 1875 fell due
and was promptly redeemed. The
amount of that loan being 81 ,473, 144.82,
was wiped out and the interest saved,
notwithstanding the statement of the
Governor that the Democracy had not
reduced the public debt OF char ges- for
interest single penny. This Is not all.
In addition to this the Auditors report
shows that during the year ending No
vember 10, 1874, under Governor Aliens
administration, 1922, ,856.80 was paid on
the funded debt and the following year
1875 there was paid $38, ,285.1S. Add
these amounts and it is found that there
was paid on the public debt under Gov
eInor Aliens administration 81, 734, :,
256.80.
Now" said the Secretary, figure
out the interest at z per cent. on that
amount a million and quarters
and see whether there has not been a
single penny of the public debt, interest
or principal, saved under Democratic
rule"
y How does this compare with the pay
ments under FOsteFP"
J''Well, I'll give you the figures and
nlakp aIpnlQtInna
When. Governor Foster came into office
there was $74l,OO0. in round numbers in
the Sinking Fund, sacred to the pay
ment of the public debt. OF this $317,-
600 had accumulated under the admin
istratiOnN OF Governor Bishop. When
the loan of 1881 became due they we're
able to pay $1,282,840, showing, that
there had accumulated during Fosters
time $541 600. This is the entire amount
for which his administration should
have credit. Suppose you draw the
comparison between the administration
of Allen and Foster. Governor Allen
found but $45 900 in the Sinking Fund
and in two years the amount had swOl-
len to $1,131 600. Governor Foster
found $741,0OO in the Sinking Fund,
and taking what was paid upon the pub
lie debt In July, 1881, and thereto the
amount to the credit of the Sinking
Fund in November, 1881, you will find
the Increase of that fund fnOt counting
1876 $40, the amount transferred to the
sinking fund under the act of 1SS1,) was
1896, ,360.75, thus showing that in Aliens
term of two years there accumulated to
the credit of the Sinking Fund $68l,OO0
more than during Fosters firstlterm of
two years."
"HOw about the financial manage
merit of thGState debt under Governor
Bishops Administrations"
.-"DuTing-the~teFm ofOttice none Ofthe
funded debt of the State matuTed or be-
came payable, and consequently he
could pay nothing thereon. But during
his term about the third of a million
was added to the sinking fund. to be
used in paying the debt, and at the close
of his term S74l 900 was turned over to
Governor Foster, and was used by him
in the payment that he made on the debt
of 1SSE"--, ..- - - =.
why was not the State prepared to
meet the entire $4,000,000 of debt ma
turing in l871?"l ~ ~
"Well, these reports of the Auditor of
State easily explained that. -Fhe- fact Is
that sufficient levy was not made in
anticipation of that debt, under pre-
tense of economy, nOtWithshanding the
Auditor of State was insisting, year af-
ter year, that larger levy should be
made. But that was not all. In 1873 a
Republican Legislature authorized and
directed transfer, in violation of the
Constitution, of funds from the Sinking
Fund TO thOse, of other funds. They had
not levied enough to meet the demand
or current expenses of theiState Govern
ment. There was $58OO00 thus trans
fered, of which $4,000 was paid, back
| during the administration of Governor
Allen, and $272, $40 in 1871 leaving $177,-
600 still due the Sinking Fund. If this
had not been transferred from that fund
or had been returned to it, that amount
would have been in the treasury in 1881
to pay on the debt then due, and ii
wOuld-haVe- been necessary to, refund
| just that much less. Instead of refund
hing 81, $4,000 they would have had to
refund about $2,600,OO0.