New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1893-03-03
cial operations, the following table should be
studied with care:
PURCHASES AND REDEMPTIoNS OF UNITED
STATES BONDS
From March l. 1875 Ia March I. 1859.


STATES BONDS
From March /. 1885. to March !. 1889.
principal SS % 81 ' s9 ~
Cost at maturity S?i o91 $50 As
SINCE MARCH /. 1889.
Principal W
Cost All SsS "a II
saving q .................. 553j2493 81
II shows that while the amount of bonds actually
redeemed under the Cleveland Administration was
! greater than that redeemed under his successor,
the net saving to the Government which President
Harrison effected in the purchase OF bonds Is larger
by S22,5l9.9.5 - than the saving effected ny
President Cleveland. Tho interest charge at the
same time fell from S31 100000 in 1859. TO
! S22 500 900 in sos. The total amount OF inter-
est paid under the Harrison Administration during
its four years of power is S'o.ooo.ooo lower man
the total amount of interest paid in the four years
| of the Cleveland regime
The disappearance Of the surplus, term
| fondlcd by the tongues Of campaign orators like
the dainticst of morscls, is, Of course. no mystery
TO those who care TO ascertain the truth while
the enactment of the Tarlff law OF lS9o reduced
the revenues OF the GOvcrnment-the abolition OF
the duties on sugar alone. and the sugar bounty
clause, represent net loss Of S6S.oOOo oO-it did
not take sufficiently into account, perhaps: the
| growing needs Of tho Government Only cNtraor-
dinary weakness Of intellect can account for the
silly pratte about a Republican billion-dollar
House of Representatives. whcn will be shown III
a few DAYS. it's Democratic successor has expended
yearly S91 ,000,O 900 more. But this is matter
for which the Executive can in no way be held
|
people and those whom they delude. it may be
we'll. perhaps, 10 cnumcratc some OF the cNtraol-
binary expenses none Of them entirely nhlnn.Iia ,a
| bic, to which the disappearance of the surplus
must be charged. Upon the new Navy for instance
there has been cXprnded-rOt counting the running
expenses of the es'a blishmcn, but only the cost
| Of new vessels built-frOm S35O00.oOO 10
S37 600 900 during the last four years. For arma-
mcnts and Notifications durn ing the same period
sum of between seven ana eight millions ias h "n
| tit Of settlers called for an outlay OF about hNc
millions more The refund Of the direct taX-a
measure. certainly. in which larger nlimprf o.
| Democratic States were interested than Republican
| took about 81 100000 out of the Treasury ne
prosecution Of river and harbor improvements
must assume the lions share Of the responsibility
cost during the last four wears about S?3,oooooo.
The payment of the sugar bounty called for about
were 1,'' vcry nearly 10000. 900 An unusually
largo number e new public budlnsr nn a ad
;nistraton involving an expenditure of proba-
bly, five eight million dollars Inc increase o.
the pension list. too. is not TO be lost SIGHT OF;
] for the last four yrars. These extraordinary eN,
pcnses of the Government amount TO IA sum total
of not less than SlGO, 100000. every dollar OF
which was appropriated for. Of course anG ior me
proper expenditure Of which President Harrison
became responsible. The revenues OF the t'ovcrn-
ment in tn" four years OF his administrators nor
| counting the present fiscal year. amounted 10
81. 735 4?5. $50 Ga. and the expenditures TO ST.
| 52j.456.700 20. These vast sums have been col
|
case Of defalcation or emb"z7lcment. surely the
highest testimony to the faithiulncss and efficiency
Of the manner in which hn has discharged his truS'
Tho mastery ANALYSIS Of the growth oi material
wealth in this country during nearly thirty years
Of protection. which President llarrison's last an
nual mcssaCo contained: is OF too recent datc 10
have been forgotten II may not be lnoppoftlin"
| however to quote here N" memorable" words IN
which he defined the prncinl"s upon which th''
foundations Of sGnH inrnra por nro sCn rev. AZ
tom which has now for som thin. more than 'hir'N
years continuously prevailed III our I"eis d.
has boon p mighty instrument for tho development
Of our National wealth. and most powerful agcncv
N protecting the homes of our workin2m"n fr'h
the invasion Of want. ] have felt most sollci-
tons neTSss to Wd n of o %T i've daily
bread, but supply comfortable margin Tor th""
home attractions and family comforts an rhJN-
mcnts without which lilo" Is neither hopeful nor
sweet They are American cti2Pns-a part or the
GREAT people for whom onr Constitution ana noN-
eminent were framed and instlutcd-anh " can
not be perversion of that Constitutional 50 legs
late as to preserve in their homes tn" comfort IN
Dependence loyalty and sense OF interest III tne
Cover nncnt which arc essential 10 gool ci'7"n-hp
in peace and which will bring this sta!wart
throng IA in ls61 TO the defence OF the nag when
it IL assalrd"
A DEPARTMENT CONDUCTED on INTELLIGENT
BUSINESS PRINCIPLES,
The work of the War Department under Prrsi-
dent Harrson's Administration has been dis'il-
gushcd by its intelligent. progressive ami bust
ress-like character. The most gratifying results
have been attained within the last four years by
wise and transformations methods The efforts 10
reduce the percentage OF deser'on-, ~ rc,n"'int
cc.sfnl that the Secretary of War was able 10
report within two years after President Harrison
entered the White House. that the perccn'ag" Of
dcser,ions had fallen thirty-thre" pr cent.
Tho results attare1 by reorganization ana con-
solidaton Of the divisions having charge OF IN"
hospital and service records OF the volunteer sG,,
which President Harrison took lively ana almost
personal interest Uron hi- accession /? oi'ce IT."
ment was 81 900 cases behind. Within less than
two years the Secretary Of War was able 10 report
that the fiscal year had closed without single
case left over though the new cascr had increased
ffty-two per cent in number over the previous
year by reason of the pension legislation OF the
preceding Congress.
Tho reorganization and enlargement Of the Bu-
reau Of Military Information. which was elected
last veal is a work the usefulness Of which Will
become every year more apparent
a NAVY TO BE PROUD OF
The record If the Navy Department made under
President Harrison's Administration is ono OF
which the country can Justly be proud. When
Secretary Tracy entered upon the discharge Of his
duties four years ago, only three MODERN steel
vessels were in commission. The vcsscls since put
in commission number nineteen. in thu conisr Of
the last year Of President llarrisons AdminIs'ra-
ton ten war vessels and tire" navy rugs nav"
been launched, bringing The '0til huihD1 OF YES
sells launched under the auspices of his Adnn,-
trotion 10 twcnty-twO. Contracts have been let
within tine last four years, under the approprla-
tions for the increase OF the Navy, inclidng new
vessels and their appdTtcnanc"s. amounting 10
S35, 100000. Thee vast sums have been dis
burSd without the smallest scandal or charge OF
fraud or parfialify At the same time the en-
thusiasm and interest Of the naval officers, both
Of the stan and line. have been stimulated and
sustained When il is cmrmbercd that II IL only
n few years ago since American naval contractors
and shpbuildcrs were practically without expert |
ence in the construction Of large iron or steel
ships. that the engine shops Of this country were
unfamiliar with great marine engines. and that
The manufacture OF steel forgings for guns and
plates was almost wholly foreign industry-wlrn
IN This is remembered the progress made under
President IIarrisOns Administration certainly IL
cause for congratulation and reflects great credit