Year: 1868

In view of the startling expose made
in our columns on Tuesday, respecting
the condition of the finances OF the
country, it is not at all to be wondered
at that the Radicals demur so strongly
to the advice given by Governor Sey-
meur to push the financial issue. With
a princely revenue at its command,
Congress was about to legislate as To
involve the Government in a deficiency
of hundred and fifty-fOur millions
Apprehending the further effects OF It's
ridiculous imposition of taxes on every
conceivable branch of industry, and de-
string to make show of alleviating the
public burdens, Congress, at one swoop'
in the face of a vigorous pro
test from the Secretary of the
Treasury, abolished all the taxes
on manufacturers. Pretending
to desire to keep the expenditures with
in reasonable limits, it proposed to linn
it them to three hundred millions; but
it did not lay the axe at.the root OF Its
own extravaganza, for it maintained at
full price its own army of useless offi-
cials, its messengers, pages, laborers,
and police, and abated nothing OF It's
outrageous bills for stationery, newspa-
pers, &c. Both demonstrations were
made in view of the election; both
were insincere, and had no other object
than to make the people believe they
favored retrenchment, although it was
perfectly understood that the aid of a
deficiency bill would be invoked after
the elections, to make good the losses In
the revenue which Congress deliberate
ly inflicted.


The hollowness of the pretence to.
wards economy on the part of Congress
is shown by the fact that it did moth
ing to diminish its own expenses; that
il kept alive the Freedmen's Bureau,
and that it created deficiency bill of
twenty millions to make good the de-
ficiencies of the year ending in June
last, though the expenses of that year
were twenty-five millions greater than
the year preceding; for while the total
expenditures of the year 1S6S-67 were
1892, AL ,291, those of the year ending in
June, 1868, were S414,9l3,604. Add
to this the amount of the deficiency
bills passed this last session,
which amounted to SIS, ,275,703, and you
have the increase of expenditures of the
last financial year over the preceding,
which ended June 80, 1867, of forty-two
million. dollars. This Radical party,
therefore, which is squandering the re-
sources of the nation at the rate of over
four hundred millions per annum, in
stead of lessening them during the year
Just closed, increased them forty-two
millions. Are the people so blind to
their own interest as to give such
spendthrifts another lease of poweri


The interest on the public debt must
be met; but it is larger than there is
any necessity for, since, under a judi
cious management of the resources OF
this people, the Government ought to
be able to borrow on as favorable terms
at least as Turkey and the South Amer
can Republics, which have no difficulty
in getting money at five, and even four
per cent. But even at the present rates
of interest, one hundred and fifty mil
lions is all sufficient to meet it. A hun
dred millions ought to cover the reason
able expenses of the Government, so
that two hundred and fifty ought to be
amply sufficient to meet all the rightful
demands made on the Treasury. In
stead of that, it has cost from four to
five hundred millions year to meet the
expenses of Radical mismanagement.
How long will patient people, misled
by delusive cries, endure such fearful
squandering of their hard earnings