Year: 1868

The Government of the United States owed,
on the 1st inst, over Twenty-six Hundred and
Forty three Millions of Dollars, less One
Hundred and Tlirty-three Millions in its
Treasury. leaving its net Indebtedness Two
Thousand Five Hundred and Ten Millions OF
Dollars. The interest on this Debt is very
nearly One Hundred and Fifty Millions per
annum, or fully Twelve Millions per month.
Our Pension list calls for over Thirty Millions
per annum, or nearly Three Millions per
month. Thus apart from the current expense
of carrying Oh the Government, and without
attempting to pay off the principal of our
Debt, OF any part of it, we must pay One
Hundred and Eighty Millions per annum, or
fully Fifteen Millions of Dollars per month, as
the permanent cost of putting down the Slave
holders Rebellion and preserving our National
integrity. Add the necessary cost OF carrying
on the Government, and our Federal taxes can
hardly be reduced below Three Hundred Mill
lions per annum.


The cry for q reduction of taxes is very gem
eral and eager and Congress defers to it with
alacrity. The Cotton tax has been repealed,
blotting out Twenty Millions of income. The
tax on Manufactures followed, wipng out Sixty
Millions Further reductions and abolitlons OF
impOsts and excise are agitated and strongly
supported. Whittier do we tend?


The reduction OF our Debt has ceased. The
last report adds Ten Millions to its total; and,
while this is probably factitious, it is clear that
there has been no diminutiOn since the 1st of
January.


The reserve of coin in the Treasury has al
ready begun to decline. 1t has exceeded One
Hundred Millions net it is now but Seventy
Millions in excess of the outstanding Gold Ger
tifcates. This is to be drawn down directly
by the payment of Eight Millions of Mexican
War Debt, Thirty Millions of Interest, and
(probaby) Seven Millions of purchase-money
for Alaska. 1t is not probable that there will
he Fifty Millions of coin in the Treasury on
the 4th of July next above the amount depos-
tied there by private owners and balanced 10y
Gold Certificates of Deposit And 1t is morally
certain that the Debt will be heavier four
months hence than it is to-day.


How is it, then, that Members of Con-
grcss can be found to vote trenty per cent er-
ira as " as additional compensation or bounty
to all the civil employees of the Government re-
siding or working in Washington Cityf That
is to say every clerk or other person whose
regular pay is $4,000 per annum is to receive,
for the year ending with this month, $4,000;
and so of all who receive less than $4,000, or
more, if the regular pay does not exceed $4,000.
How can trustees of this heavily taxed and
deeply embarrassed people vote TO squander
their money thus recklessly9


We will take our own trade as an lllustn-
ton: The prnters-whcthcr compositors or
pressmen-employed in the Government print
ing office, are paid S24 per week, where they
were paid Sl2 per week in the old, hard-money
times. They are paid as much as any other
printers. and they work no harder than others.
Why, then, should other printers be taxed TO
pay this favored few - 80 per week extra
1t seems to us gross partiality and wrong.
! Representatives of the people we warn you
that your votes for against this measure
Will be scrutinized when you come before the
people for reelection. They who live by hard
work, and get no twenty per cent. extra, will
ask why they should be taxed to pay twenty
per cent. extra for this years services to those
who have had the Government for employer
We charge you to look well to your answer!