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Daily Ohio statesman. (Columbus, Ohio) 1855-1870, October 16, 1868, Image 1

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Persistent link: http://chroniclingamerica.loc.gov/lccn/sn84028645/1868-10-16/ed-1/seq-1/

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" GOtrUMBUS; OHIO, FRIDAY MORNING, OCTOBER 16, 1868. - - , ... io e x,
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lAsmmno KtTliraTm.WiULT Buna-UN-sent
par casra eeh insertion: for three
BMBtfaa or longer, aissonot of one-half from Dilj
race.' ' u- ' " -
AmiMimW HnVmtT Bt4ai W.S0
per mtun tor fintnMrina, 76 feats for ecl d
iitional ineertioa. ,' ,
Botwiss NorKAs.WoeMsemab'iinortion.1 ,,r
ONtuncn ie BitwMwnw.. - v. : n..i-i.
.Joricto or MBRiioa, 5 eenta, .1.;
. tvBT.IOIoi'B NOTio8, bair price.
' Irtmwwif aJttftitemtnU waut 44 psM fortt
IMMWWf KOim. i 1' -iJ- I I' - A"
g r i g--)
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. T5 1 50 25
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34 001 35 00
ST 00? S9 001
T,..T. BROOKES,' . .
Xv Ardiiteot. Civil Kncinesr. As.
Office over the Matien! fixehane Bkok
Office. So.fiS SoatK Hih street. AmboYBvild-
AJBE.S 43, BUIX. - - :1
f. . r ....... -i- M.,e,(jffiee.
ATTORM.1-AT-LAW Notary roblio.
- Offie in Fawon's Bi(diDz.
f. UOOOHIiFF, ..
ATTORN E lf-AT-LA W t Kotary Publio. r
Office 151 South High street. '
J 43. MEAL, " T ''' y." A V?
Anetieneeraad Dealer in Real Estate House
hold Goods, Cktthi&g and Notiins, - -...e!,t;:i
f i --r -No. West Broad 4treet.;
GEOK6E M1TEII. ?'r-ir-)-. r t i '
Barber and Hair Dres.w.' "Hot And Cold
Bams. Basement PeetoSoe it iildiB .u -
Slj4sK41' C LILLli, . . - .
' Book Binders.! Blank. Book- Manufacturers,
l-'riBtensad Publishers..;. ,i ..,.. .. . . .
" ' -. . Opera BniHing.
at M4 South AUgn. street.
Just marred, an
elegant assortment.
New atyles. low prioes. la-
dies, please call.
oit4 at .- -
la the aoted hons for good Bootraad Shoes
at low prices. New Stock just recelved-
mijM.M e.u .1 - s -.S7C South. High street. T
:b-iO q e
IX . Dealers ia Pittsburgh and Ohio Coal. Also,
Coke, Drain Tile and Stone Sewer Pipe.
, . ' u N".l orth Hish street.
H ' " FlTCII 6c SON, - -
e Commission, Forwarding and ProdneeMer
ebants, dealers in Grain, Floor.' acw 1 W. Broad
etreeu, t r i -r-rit'l .rry --
e. Manufacturers and Deaiers in French, Ger
man and American Itorsets. Also, Hoop skirts.' '.
...n7 il- i ,.- r" ti ii 181 Opera House.
' t CROCKERY," &c.
WH. lEtTON,;, , ! .. '., '
; Wholesale and. Retail Dealer in China,
Queecsware, Glass, Plated Goods, Lamps and Lamp
fixtures. ' 1 44 North Higu street.
a... 'i . rtAil',
jm importer and Wholesale and Retail Deader
U Crockery. China, Glass, Cutlery, Plated Goods,
Coal Oil Lamps. Ao. :r-.-. .
r. . , ,. "... .... S59 South High street.
No. 18 East Broad street
We aim to be the Sw(.'
p W. BliSm, DENTIST. The beat styles
Mineral Plate, Office, 14 and 11 Opera Block.
Ct EBEBbT 4k CO., '
) a - Dnalara in Or, (loads. Notions jCaroets. Oi'
Ulohe. MaUings bhades. Bats. Caps and Furs,
corner nign and rrtena streets.
JO. osBiAirt de io.,-- ' - '
. - - - 13 South High street.
Carpets, Mattings, Oil Cloths,Cartains, Sta. le and
aney Jry uooas. ....... t -
II , T. 4t . U. 1'Ai,
AA, Wl
Wholesale and Retail Dealers io Stanle and
Fancy Dry Goods, and ataoutaoturers oi Ldies
Cloaks. -. , 128 S. High street.
JS F. Krum A Co., sash dealers in Dry Goods and
Noti-ns. leo couth tour to street. -
J Wholesale and Retail Dealer in Dry Goods.
Nanghton Btulding, Noa.118 and 12s South HigB
streeu -. - .
! .! kOdl tc A A4.444N. -
XV Dealers in Staple and Fancy Dry Goods and
Ueats' t urniamnc uooas. so. neii House.
AL4JsaA A', tiBAI At CO.,
Jf . Healers ia Staple and Fanoy Dry Good
.. . o.H South riigh street.
a . 4! U..AOI,Kt Jr. CO..
Ai ' Foreign and Domestic; Dry Goods, Cloths,
jrnrs, ete wo xoi Boatn nign street. .
Dt-OT 044U43 T4li. m
. JOHN S. BOB&RT8, ,-,
. . 54 North High street.
AHPLEAHI'fllO.I, " ,
W AxOAJuSAixhl m BElAlLi VKUUU191B.
ion South High Bt ColumDus, t.
TIUAUN. HUI IIK Ar 144 . . .
-L YV holesale and Heiail Druggists, and Dealer.
fsupctobar mieuioines.
o .j... 4 North fligh street..
JLV Desizoers, Engravers and Publishers. Nota
rial ana outer seais etigravea to oraer.
- . N os. 107 and 109 South High street
..n n in Kin CABINET JO..
J Manufactnrers and Wholesale and Retail Deal
ers ia Furniture. Cnairs, maurasses, euj.
- No. South High St. (opera House).
. .M.A VIIUMI'rllUM I . t . .
I u.nntu,nMVB ni Kmtclaju furniture. Whole
sale and Retail Warerooins, 6, 1 and 8 Gwynue
Block. . '
1 , K AttUli I HUImALO.,'
Jlt Dealeto in Mantles. Stores and House Fur
nishing Goooa. Alto. Tin. Copper and Sheet Iron
w are. - u r.asl lows ftreei.
House Furnishing Goods, Mantles. Orates,
iwpper, xia wi ones iron, stoves ana Aunues
" Puutn Huh street.
4'f OK. TA IliOtt A HEFV.
V liealers In Hardware, ttouae Fnniilii.. nuul
alarble and Slate Mantles, Grates, Siuvee. Hot Air
furnaces, oo. m aotux mgn street.
. Mllkll.
ri.' Manufacturer and Wholesale Dealer in Hoop
bkirts and Corsets. Also, dealer in Berlin Zepher
and Fancy uooosi w ooum c'tninwt.
Business directory
Dealer in Marie Merchandije. Booli. Sta-
oHerv ml FaiMiv Gnoda veaerallT. tioeeial Axent
I.T the oelebralediilia Howe Gold Medal 8ewinf
(chine. No. 6 Sonth Hiah vtreet.
l Sueeexaor to E. UoO Dealer in BaU. Caps,
t'nri and Ktr iAAila 120 Month Htm rtreet.
caiao uws rut. i
i.1 Opposite Depot.
J. H. DAVIDSON. Proprietor.
I Corner High and Town streets.
E.3. BLOUNT. PropTieton
Corner Kourta & Friend its. Commodious
house and extensive stables.
L. A. JBOWEBS. r-roonetor.
01 S40 South High street.- Good subline attaoh-
d to premuee.
W P. THATCHER. Proprietor.
siuanee Compeny. Assets, tl6.t00.000.
W il. J AM1SUJN, Atent. uoiumoas, u.
GBNtRAL AGENTS Seeuritr Life lnsaranee
Compaay. No. 6 Opera House.
ColembusO. - apiaal aad Assets, 440ai4..
W. C. M. BAKEB, Seo'y.
i Office, Noe.4 At Opera House
Wholesale and Retail Millinery Goods.
141 8. High street. Opera Honse Block.
JI WW. A i DOW NING, yi " M t
jM. Deilerin Millinery. Straw Goods and Trior
No. 47 North Huh street.
Dealer ia Millinery, Dress and Cloak Trim-
mines nd rancy Goods. .130 south Hitch street.
1 Merchant Tailors and Dealer ia Gents' Far
Dishing Uoods. . - 1 j
f W.1HI1WAKDEB4 ; - t
Vy Merchant Tailor and Dealer in Gents
nishing Goods. Also asent for the Diamond Shirts.
5 Kttf ";rsl-oma uwib street..
A CLOTHING CO.. 185 8. Higher.- Gents';
suits made to order. Ready-made Clothing -al
ways on band.
Merchant Tailor and Dealer in Clothing and
Gents' f ornubing Goods.
-.- nortn riizn street.
Choice stock of Clothing constantly on hand.
T r- f NEWS DEALERS; ':.f "- V
News Dealers. Rookftellara anil RtjitinTiw.
No. 55 Sonth High street, nex door to Poatoffice.
f.-AttEl. UHLR1AIT1.- "
A7 News Dealer, Bookseller. Stationer and Bind-
x UDticauous in Dom werraan ana bng.isa.
331 Sooth High strext.
- Manufacturers and Dealers in Writingr. Frink-
ing and Wrapping Papers. 3& 96 North High u
Dmler, in Prinlin. KfihV- Wrifiti .nrl V i n
papers 36, 58 A 44 Nor; h High street.
81 Soorh High street.
tl PHOTOGRAPHER, 107 South High street.
Pictnres made in every style and sise.
; Photographs,. Ambrotypes Gems, etc., eto
f - - " No. 24 South High street.
No. S ODera Honda. Trnftta DisearAS of the
Ere. Ear. Heart. Throat ami l.nnM. Alan. IlisAuAfi
ef Women and Childien.
. Wholesale and Retail dealers for Llcrbte A
Oo.'sand HaioeoA Bro.'s Pianos. Also, Organ.
Melodeons and other musical instruments. -
So North High ftrcet.
Acent for Chickering's and Emmerson's Pi
Also, Organs. Melodeons and Sheet Music.
31 South High street.
Corner State aud H ish streets.
CHARLEY MYER, Proprietor.
The best in the world. Nos. 1 and 3 Opera
W. P1MMEL, General Agent.
r Mm. DUABtH dc CO..
XV. Dealers in Fine Watches.
Clocks. Jewelrv.
Platedware, Speotaoles, Ac,
No. 11 Ea.t Town
(Successors to Wm. Blynn) dealers in Dia
monds, Watch s. Jewelry, Silver Ware aud" Speo
taoles. No. 3 Neil Houre.
Wholesale and Retail dealers in Watches.
Clocks and Jewelrr.- No. 71 South High street.
Wholesale Dealers in Dry Goods and Notions.
3 and 4 Gwynna .block, town street.
pEED,JONE4 4k CO.,
Manufacturers and Wholesale Dealers in Boots
and Shoes. No. 9 Gwynne Block, Town St.
Bank Notice.
all whom it ma, concern, that the Citv Bank
of Cleveland, an Independent Banking Company,
organised and carrying on business as an Indepen
dent Banking Company at the city ol Cleveland,
Ohio, under an act of the General Assembly of the
said State of Obio, entitled "An Act to incorporate
.he State Bank of Ohio and other Banking Com
nanies." Dassed February 24th. 1845. being desirous
of relinquishing and closing its Banking business.
to tnat end nas. in pursuance ot tne statutes ot tne
(aid Mate of Ohio in such case made, paid and re
deemed more than ninety per cent, of the maximum
amount of its circulating notes, and delivered the
same to the Treasurer of State of the said State of
Obio to be destroyed, and have provided means and
given security to the satisfaction of the Tre.eurer,'
Secretary and Auditor of State of said Stste of
flhin inr the redemDtion of its outstanding notes of
circulation at the office of the National City Bank
of Cleveland, at the said city of Cleveland, wh re
said City Bank is located.
Done by order of the Board of Directors of the
lit Kanlcot uieveiana. juu iu, i-w,
sland. July 9ib. 168,
LEMUEL WlCK. President.
I I.' 11 I L
ALL PEB80SS WHO itmii r-.r.f-a-
i. work for repair at- T.- - Anderson a Oarriue
Mannfutn.. mnA haff. tint lulled toT it. M,T herebV
notified that such work ss bs been on band for four
mont ns. or over, will be sold a. puonc auoiion. on
theeornernf Ktatn .nrl Hivh str etR. nnless called
for and cha-ges paid within thirty das from-date,
i -. . T. ANDERSON.
I Columbu., O., Sept. 21. 1868. sopt2l-dltaw3w-
Clbvelamd. Mav S3. 1868.1
LN holders of the outstanding notes of the late
Bank of Commeroe, and all other parties interested,
that after the expiation of six months from this
date, applioatioo Will oe made to the Auditor, Seo
Mr.rvind Treasurer of State to surrender
Bsnk the stocks deposited to secure the outstanding
oircuiattuu-u ... w, ,uv, lorti-
4rst(4I) section of the act to authorize Free Bank
i" named March 21st. 1851.
ing. pa" """josKpa PERKINS, President
i jj. R. HrBXBUT, Cashier. Imar95 dCa
! v The . Sisters of St. Marj'f,
U Somerset, Perry county, will open tboir large
and spacious Danuiu iw 7;5rr "5
r.c. unj.rin Sentember. lgtig. t or Board and
Tuition. 476. . od , ocording to the .do-
partinentol tnepipu. - ""i-
i Address Box Sfil. aiuS-dtf
A Review of Mr. Edward Atkinson's
Worcester Speech,
by R. J. Atkinson, Esq.
, . i. .:-.: : v, :'! ... -i.) .1;;
i An address of Edward Atkinson,-Eiq,
o ltostcn,: recently -delivered before tine
Republican State Convention ia Massachu
setts,' oh' the subject of national debt and
expenditures, has been published as an au
thoritative document," and beraided as a
complete justification of the- Republican
financial policy.: The -address may be re
garded as a semi-official document, the author
announcing, to give additional weight and
authority to the statements therein con-
talneey that "If there is any merip in tne
lollowinjc analysis of the expenditures of
the, lst three years, I can only claim the
plan and method upon which it is placed
before you. All the dat have been fur
nished, me by the Hon. David. A. Wells."
- ; t - i - I - .. -
I have said that I have been able to make
the statements which are included in this
address by the aid of my- friend,' David A.
Well,apecial(Jommissioner otthe Kevenue,
to whom' I applied, in order that I might
ave the force of an official statement to prove
iy fiohition. No man stands nigher In the
uutiUencef the people, and no wander
manr's tnac continence more, witn a sin
tie eye to the truth, he gives to his work
the lorce ot aa enthusiasm rarely to be
found, and hence the. power and value ot
every document that comes from his band."
With such an endorsement. It la not sur
prising that the statements in this address,
and the conclusions arrived at, have not
only attracted much attention, but claimed
decree ot confidence bevond that civen
to unofficial statements. At the request of
some friends,-! nave caretully - examined
the statistics and arguments contained in
this address, aud propose to consider, In as
brief a manner as possible, some ot the most
important points tnerein set tortn.
In the present condition ot the country.
and critical condition ot our financial af
fairs, what is most to be desired by all who
are interested in its prosperity and wel
fare, is the "truth." To the attainment of
this object, every good citizen should con
tribute whatever he can. I concede to the
author of the address, and his official in
spirer, ail Ihe ."enthusiasm" for truth so
modestly claimed. At the same time
cannot but regret that a F more charitable
spirit had not been manifested towards
those who might, perchance, happen todit-
r with regard to the facts or conclusions
presented dv tne autnor or tne aaaress.
Hence, I regretted to see the charge made,
in the very outset, . that '"the Democratic
party fears the truth and I was further
su prised to gee other denunciations, in
partisan language, entirely out ot place
in an onicia." or' semi omciai- aocu
menr. prepared "with a single eye to the
truth." Under the official mantle of
Mr. Wells, the author .appears as
the selected and inspired champion ot the
financial policy of the .Republican party.
Under such circumstances a private citi
zen, with nothing but-the official report,
made under authority of law, to guide him
in his researches, amid the clashing of ng
ores and the maze of conflicting theories
of high officials, may well hesitate before
entering such a field of controversy. Be
lieving, however, that the public, welfare
will be promoted by the fullest comparison
of views on all sides, and that by thorough
investizal.Ion "the truth" may be arrived
at, I propose to submit some considerations
on this vexed- question of our national
finances,', as" presented in- this -address,
claiming no official inspiration, but only an
honest intention to state lacts as they ap
pear in official reports, and to consider
them In their true relation to our national
finances, and the Interests ot the tax-pay
ing people.
-What did to otee m 1865?" The first
point made in the address is the amount of
indebtedness in isto. It t stated that the
ascertained debt of thn United States on
the 1st day of April, 1865, as entered on the-.
books of the Treasury, amounted to $2.
366 955,077; that four months afterwards
on 1st August, 1865 the debt, as shown on
the books, was 2,.57.6SU,oil; aud that the
latter sum has beeu assumed ot late to have
been the maximum debt of the country at
any ono time. This assumption is stated to
be incorrect, tor the reason tnat these ngures
only embraced the amountof debt actually
entered on the books of the Treasury, when
there existed at that time a liability tor
large sum tor which the Government was
bound, but not tut-n liquidated, ana wnicn
has since been recognized ana paia. This
liability is stated to have been, in round
numbers, S800.000.000.
.No person, I apprehend, at all con vers
ant with our financial affairs, supposed for
a moment that the published statements ot
public debt referred to In April and Aus-
ust, lsea, represented tne aggregate liaoiu-
ties of the Government growing out of the
war.' If there are any "Democratic lead
ers" who made such representations, "they
were certainly mistaken in the tacts.
Evervbodv knows, or ought to know, that
the monthly statements issued by the Sec
retary of the Treasury embrace only that
part ot the mueoteaness oi tne tiovern
ment represented by bonds, treasury notes.
or other forms of obligations, and the cur
rency called "greenbacks." It is no doubt
true, therefore, that the indebtedness of the
Government, liquidated and unliquidated,
amounted in the year 1S65 to the sum of
$3 287,733,320, as claimed, and more than
that, as we will find; but that only proves
that when the Republican leaders pointed
to the reports of the Secretary, showing the
indebtedness to Oe only .o.ualJ,671, in
answer to the assertion of the "Democratic
party leaders," that the "burden ot debt
imposed upon the country by the war was
from three to four thousand million dol
lars." tbev were themselves keeping back
irora the people the fact that an indefinite
amount of indebtedness was yet in the
background, unliquidated, which would
swell the amount to the sum estimated by
the "Democratic party leauers."
But the important part of this statement
Is the assertion that "since that date the
Republican twrty has paid over S800 000.-
000 or one-quarter of the principal of the
publio debt, Desiaes paying tne interest."
Again it is said, "We have paid $800,000,
000 of our debt in the last three years, and
at least $200,000,000 of extra interest or
guaranty, the latter paid in consequence of
the dishonest purposes ot the Democratic
Dartv." This is the keynote of the address
It is the great point, to sustain which all
the figures and ' statements are directed.
Now. bear in mind that this $800 000,000
ot the "publio debt," this "one-gtiarter of
the principal or tne puouc aeow auegea to
have Deetrpaio, is auiuitteu never. to nave
been included in the statements of public debt
at all- But is alleged that at tne close ot
the war viz: in April, 1865 there was a
large amount ot Indebtedness not liquida
ted, and therefore not embraced in the
statements of public debt, which has since
been paid. It is, i.o doubt, true that a con
siderable portion ot this unliquidated in
debtedness has been adjusted and paid .dur
ing the last three years oi enormous re
ceipts. It would De strange, indeed, it
such were not the fact. But this affords no
ground for tne assertion tnat "one-quarter
of the principal of the public debt has been
paid, as we enau see. xaa auuross states
the receipts into the Treasury from April
1S65. to 30tn o une, ist, as louows :
l-pnm Rnlt ms.....
From internal revenue
From miscellaneous.. ......
Total 01,540,058.583
For the present purpose I will assume
the fisruresas correct, and consider the facts
as presented. I shall endeavor to show
bereaiter, nowevei, mau mo receipts irum
1st July, I860, instead of from 1st April,
1865, amounted to mors than the amount here
stated. The address then proceeds to state
that, at the surrender of the rebel armies in
April, 1865, the Government was liable on
contracts executed, or in process ot execu
tion; that it owed the troops back pay, &c;
that "large payments, the liability tor
which actuallv existed during the time,
and which were properly part and parcel
of the expenses of active war, were carried
over into the year succeeding the war, and
were then largely paid trom the enormous
receipts of revenue for that year."
1 And further, ia explanation, it says :
This liability for "bact pay, for the iiav of
the troops to the date of their possible dis
charges, for their transportation, . and for
the settlement of contracts, formed a Dart
of the debt of the United States on the 1st
qf. A prtl. 1865, M much as If It had been all
settled, and the bonds Issued and entered o i
the books of the Treasury . Department.
These disbursements, under the direction
ot the .War Department, from the 1st of
April, 1865, to the.. 30th or June, lSbti, a
period of only fiiteeu months, were as fol
lows": ' . ..
April 1 to-June 30. 1W55 ..t414.198.3TT
Jul, tto September), 18M. ...... ...... 16i.3fi9.247
October 1 to December 31. 1845 63.123,541
January 1 to June 30, la... J... f 50 857,825
I Total .'I.'.'.,..'.l.,.';'.i'.'...:...:'..;...89o,548,078
And the expenditures on account .of the
Xav'v Department from April 1, 1SG5, till
June 30, 1S66, are stated to have been $76,-
319,773;-whereby it is shown that the ex
penditures, on account - ot. tne war and
NavY Departments from 1st April. J1865,
till 30th June, 1866, amounted to $774,856,-
861. .iiij. i-.-j A-,,,'
The following conclusion is then arrived
at; :. - : -;. - , -, ' ., s -.. - .,
i Vlt is, therefore, not only legitimate, but
strictly in accordance with the facts, to as
sume that thit large expenditure of nearly
$800,000,000 from April 1, 1865, to June 30,
isobv was In every sense a war expenditure,
and that it was a-liability on the 1st of
August, 1865,'? &o. :;
It is surprising that any. person, official
or private citizen, should assume that the
total expenses on account of the army and
navy trom 1st July, 1865, till 1st July, 18b(i,
were "toar expenditures," chargeable to the
public debt as it existed on 1st August,
1865. It is not doibted that a considerable
amount of the expenditures charged on ac
count of the War and Navy Departments
rrom 1st April. 1865, till 1st July, 1866, wat
on account of liabilities incurred before the
close ot the War. Such liabilities are yet in
existence, and will remain unsettled - for
years. But the J sum stated is en
tirely , .too large. It . Is preposter
ous to set up all the expenses of
the army and navy till. 1st July, 1866,' as
part ot the war debt existing in August,
1803. . . ...... .....
In addition to these expenses, the ad
dress claims still further deductions, as fol
lows: . , - , . , .;
"But the liabilities which existed at that
date were even more. , There were the
debts which humanity and honor alike
have imposed upon the country, and which
(Jongress has recognized and paid. . We
were then liable for pensions for the equal
ization of bounties, for further arrears of
pay ot deceased soldiers, for the claims of
states, tor the property ot loyal men des
troyed, tor additional prize money, for the
reconstruction of the rebellious States,' for
the care ot the freedmen, and the burial of
the dead.
"The amount of these - liabilities, which
have been recognized and paid, and whicli
are not included in the previous statement.
is as louows: '.'
Bounties ;,
Prize mony..
Reimbursing States for war expendi
tures. ....,........
Claims of loral men
Freedmen's Bureau '
Miscellaneous, including expenses of
recoostruction and national oemeter
ies, estimated
' 13 S30.188
Add to this the expense, of the army
and navy for fifteen months, as previ
ously stated ,...-5Vi
. And we have a total of . . . . . . 920,78,353
Ana in mis total we bare tne sum to
be added to the debt as it stood on
the books of the Treasury. Aoril 15.
1K65 , ... 2.366,733 3S9
Making the aggregate of. C3,287.733.329
Which was the actual maximum of the war
debt, being the expenses of the war not
paid as they were incurred." .
'-Bear in mind that these figures are all
official, carefully prepared for me bv the
Hon. David A.- Wells, in order that I might
defend the credit of the United States
against all comers." ' '
At the md of the fiscal year ending
June 30. 1868.it was... (3,511,000,000
Due in i nis amount mere were included
026,000.0(10 of bonds loaned to the Pa
cific railroad, and to be repaid by
then 96,000,000
Net debt... t2.4e5.ooo.ooo
"We have paid off $802,733 329." -
"The present debt , deducted from the
maximum debt in 1S65 proves the actual
pavment during three years of -quasi peace
of $802,733,320, or about one-quarter of our
entire liaDi'ity." , "And now we be
gin to see to what purpose the revenue ot
thn last three years has been applied."
I regret the necessity of questioning
statement esteemed so favorable to ."the
credit of the United States." Butthe cred
it of the United States will be best sub
served, I apprehend, in the promulgation
ot the "truth;" and if this gratifying
statement is not based on the actual facts,
it is ot vital importance to the people as
well as the "credit ot the United States,"
that its fallai les should be exposed.
: Observe, now, in this statement showing
a reduction of $302 733 329 in the last three'
years, is an item of $414,196,377, being for
.fHsbursements by the War Department
fr m April 1 till June 30. I860. What has
this to do with the question of amount of
mueoteaness on the 1st of August, 1865.
and reduction of the public debt made since
that timer The disbursements having been
made, the indebedness was liquidated, so tar
as the creditors ot the Government were
concerned, when the payment was made.
The payment could not have been made
without the means. It the disbursements
were made in greenbacks they would
pear in the Treasury statements of public
debt: in like manner, if in seven-thirty
notes, compound interest notes, or certifi
cates of indebtedness, all of which are
included in the public debt statement
As au item of expenditure in the rear,
it, ot course, forms a part; but it has no
other relation to the amount ot Govern
ment indebtedness on the 1st of August,
1865- Having been expended in the period
named, it passes into the general aggregate
of expenditures for the fiscal year 1864-5,
with theotner expenditures ror tnat year,
It cannot, therefore, be deducted from the
expenditures on account of the army made
after 1st July, 1865, nor allowed as a set off
trom the collections made thereafter. The
debt statement of 1st August, 1865, era
braced all liquidated debt, whether repre
sented by bonds, compound-interest notes,
seven-thirty notes, certificates ot indebt
edness, or graeubacks at that time, and this
laree item having been expended before the
30th June, cannot be added to the debt of
August, 1865. It the disbursements were
made in currency, that is included; the
same if in seven-thirty notes, 01 other
forms of indebtedness used. This sinel
item disposes of more than half the amount
of public debt claimed to have been paid off
during the last mree years.
With regard to the balance of this sum
claimed to have been applied to the rmv
inent ot the public debt, embraced In army
and navv expenditures during the last
three years, it is only necessary to say that
no authority or data wnatever is presented
for auv such showing. 11 is simply an as
Riimntion. supported by no evidence, and,
therefore, no means presented whereby to
test its accuracy. But even if we admitthe
correctness of this assumption, the facts
would still show most extraordinary ex
penses on account of these departments.
Bv reference to the official reports, it ap
pears that the entire expenses on account
Ot said departments were as louows
War Dep't. year ending 30th J une. If 88.. 8584,449,741
1847.. 92.S!4,4I3
1888. .l!i3 248.648
Navy " 1M6.. 43.3J4.118
1807.. 3i.0-.'4.11
1868.. 2,78,862
.Estimated by Commissioner Wells.
Deductions claimed";
RotrindlMf the 0774.865.851
of the 15 months' disburse
ments tor army and navy,
claimed to be deducted.
Add the following items, also
olaimea, viz:
B junties ........
Prize money '.
Reimbursing States....
Claims ot loyal men....
Fieedmen's llnieau....
Miscellaneous ,
; Balance 0128.427,496
Now, having deducted all these sums,
including Freedmen's Bureau expenses,
which are in no proper sense ;war ex
" but reconstruction policy ex
nense.j. there still remains $128,427,495 ol
ernenses lor the War and Navy Depart
ments the last three years. Observe, these
are the net expenses after deducting all the
amounts claimed as paid in liquidation of
suspenuea er overdue claims,- pension",
bounties, prize money, reimbursing States,
claims 01 loyal citizens, expenses ot f reed
men's Bureau, and miscellaneous expendi
tures' during the last 'three years: It is
found, however, ' that both -these depart
ments - -were, in , the : receipt; of, r large
suras from . sales . . of. property.
supplies, .vessels' .material, fcc
on band 'hot 'needed after ' the 1 close
ot the war, and sold iu the market for cash.
All these sums realized from sales ot prop
erty, supplies, ic, were applied and used
Dy them, in addition to the appropriations
made hy Congress.' "These extraordinary
receipts do not appear in the general state
ment of receipts and expenditures, al
though the departments have the benefit
of the money, the same as if It had been
collected by taxation.-' In the War Depart
ment alone it is officihlly stated these re
ceipts from sales of property, since
the 1st of July, 1865, and up"till 1st Julv,
1868, ' amounted to $74,745 610; and the
Navy Department is reported to have re
ceived during the same period, the sum
ot $40,628 664, making $115,374,180 receiv
ed by the War and Navy Departments, in
addition to the regular appropriations, and
expended by them. In the address no
mention is made or these receipts. This
vast sum is totally ianorett in this semi-offi
cial document.' 1 '
Now add this sum of $115,374,180, re
ceived from ; sales of property, supplies.
&c-,to the balance of admitted expendi
ture, as above, of $128,427,495, and we have
an aggregate of $243,801,675 for the three
years, or an average of $81,267,225 per an
num of net expenses tor the army aud navy,
stripped of all extraordinary charges, and In
cluding only tne pay proper and other ex
penses connected with a "peace establish
ment." And this, too, . notwithstanding
they have the continued use of large
amounts of material and supplies held over
irom oeiore tne war. ana not sold, Dut kept
for the equipment and maintenance of the
respective forces. Even on this showing.
the expenses ot the army and navy per an
num lor the last time yean -averaged
more than the entire , , expenses
ot Mr. Jiuchanans administration dur
ing any . year of his official term;
and more than double the -i expenses
of the army and navy during the last
year of his administration, they amounting
only to 35,4UU,V2V. it does not follow
from these facts merely, that the War and
.Navy departments are improvident -or ex
travagant iu the use of the money expend
ed by them. . They may be economical, for
aught that appear-. Hut the lact is plain
that these expenditures are enormous; and
whether, they, are the result of reckless
extravagance, or of a policy or system es
tablished by Radical legislation, requiring
a large standing army aud consequent ex
penditures in its maintenance, is immate
rial.' me responsibility ana culpability
are tne same in eitner case.
The address proceeds: "We can now
strike the balance between our income and
our war expenses :
Income three and a a Barter '-
1 years ..r... SlJiiO.058.593
war debt cxnz 733,x29
W. .r.pii.1 43fl4UUARa ....
Ordinary expenses 1298,840,371
This is the sum and substance of ali the
charges of extravagance and waste. If it
shall be claimed that the whole problem
should be stated in currency the result ia
not changed, only our income and our war
interest will appear a little larger.
! "The premiums on sales of gold having
been included in tne miscellaneous receipts,
the only addition we have to make is to
add to the war Interest the premium on
about two-thirds of the amount paid in
gold, at an average ot forty per cent., say
$112,000,000. Our statement . will then
stand:. ,. ..
Inoome three and a quarter years. ...01,540,058,583
y aiue or premiums on goia interest
paid- .
Income in currency..
War debt paid........
Interest. 1 . i
Premium on gold....
.. 438 484.H33
.. 112.000.1)00
1,353 21S.3I1
0388,840 371
Ordinary expenses....
or a little less than $92,000,000 per yeaj.
The expenses of the last fiscal year un
der the Democratic administration -1 ::
tion of James Buouanan amounted to 076,841,000
.r-qu ti to a currency equivalent at tne
average of 144 for gold, the rate at-.i : I
whiohourwarexpenditureSBhouldbe . . ,
taken if our currency exoenses be re- ! " -
duced to gold to $107,577,440
"It, therefore, appears that the. expenses
01 tne government, under tne direction ot
a. Republican Congress, hampered 1 by
hostile Executive have been at the rate ot
$15,500,000 less per annum than the expenses of
the last year of Democratic rule."
This is, indeed, a remarkable showing.
Let us proceed to test its accuracy.
1ST JULY, 1868.
The official reports of the Register of the
the Treasury, embraceed iu the reports of
the Secretary ol the Treasury, on the
finances, state the expenditures of the last
two fiscal years as follows :
Ending 30th June. 1868 0530.750.940 48
1S67 38 729.129 33
" 1868'. 371.650.325 74
11JSO9.030.395 55
Add amonnt of exponditures, by
War and Navy Departments, .
from proceeds of sales of propert.r.
Ac, not embraeed in Register's '
reports, (see Mr. Delmar's letter). 0146,015.855 52
Total expenditures..
.01.385,046,151 07
Or an average of 0461,683,050 per an
Now, deductions are claimed as ex
traordinary expenses, growing im
mediately out of the war, as fol
lows: , ' '
Interest on pifblio debt 0438,716,793
Pensions (Mr. Well's es
timate) 63 828.9.5
Bounties 49.382,859
State war claims 12.330.1HS
Claimsofloaloitizens.. Il.lll.3ii0
0574.370.1 00 00
Ba'ance .'
0810,476.051 07
Estimated by Commissioner Wells.
Thus, after making these deductions, we
find a balance of expenditures in the three
years of $310,676 051. or an average ot
$270,225,350 per annum for ordinary expenses.
and excluding interest on debt, pensions,
bounties. State war claims, and claims of
loyal citizens. If we were to ded uct $ 150,
000,000 more to cover alleged liabilities con
tracted before 1st Julv, 1M65, there would
still remain $660,676 051. or an average ex
penditure ot 9220,228,683 per annum, near
ly four times the expenditures ot the last
year of Buchanan's administration, instead
of "$15,000,000 less," as stated. I have, in
this statement, excluded the $5,617,000 on
account of Freedmen's Bureau from the
I have made this showing on the figures
presented in the address the "income," or
receipts into the Treasury, being set down
at $1,540,053 583, in the period from 1st
April, 1865, till 30th June, 1868, three and a
quarter years. The foregoing calculations
bave been made on this basis, assuming the
amount of receipts to be correctly stated.
I propose now to show that from 1st July,
1865, till 1st July, 1868, a period of only
tftree years, the-receipts Into the Treasury
were in excess of the amount stated.
The official reports of the Register ol the
Treasury, accompanying the report of the
Secretary ot the Treasury on the finances,
state the. receipts each year as follows:
1866- 7
1867- 8 ( Mr. Delmar's statement)
To which a-ld reotipts by United
States Treasurer from sales of prop
erty and other miscellaneous
sources (Mr. Delmar's ttateinent):
1P65 6
1867 8
$558,032,620 06
49S 634.010 97
405,633,133 27
65.738,163 14
45.715.162 II
44,57-1,530 37
Total receipts 01.600,820,619 13
Here Is an excess ot $60,262,236 of re
ccipts in three years over the amount ol
receints for three and a quarter years, as
stated in the address. I make no attempt
to explain the discrepancy, but simply call
attentiou to the fact. If this be the true
amount, as 1 have every reason to believe
it is,' it increases the amount to be account
ed for to that extent. And to this should
be udded the receipts for the period from
1st April to 30th June. 1865, stated in the
address' at $83,514,162. thus increasing the
discrepancy to $143,776,393.
' Let us now contrast some ot the items of
expenditure the last three years with those
of a similar character during Buchanan's
administration. The item of "civil and
miscellaneous" expenses is set down at
$149,145,805 tor the three years averaging
nearly fifty millions per annum. During
last vear this item is reported by Mr. Del-
... -f -JfiQW,7. a sum npurlir . r.,,.,1 tr.
the entire expenses of the last year of
Buchanari'sadministratlon lor all purposes,
including the army and navy 1 ' '''''
Again: The address sets .dowa the ex-
penses-of the lat rear of Mr. Buchanan's
administration at $70,811,000. , This is in
correct. The official reports show that the
expenses tor the tlscnl year ending 30th
June, 1861, were only $62,537,171. exclusive
of principal and interest on the public
debt. 1 During' the' year previous, ending
30 h June, I860, they, were $66,010,112.
Everybody remembers how these expenses
were denounced as extravagant in the po
litical canvass of 1860. J They formed the
chief piank In the Chicago platform of that
year. Yet now the -expenses under the
single-'head of "civil and miscellaneous,"
excluding entirely the army and ' navy,
equal ' almost the' - 'entire ' expenses 1 -untier
JSuehmuMl n-, . ..-hi tO i.V.'-Kf r-r
Take the item of expenditures on account
of the "executive." During the two last
years of Buchanan's administration, ' the
total expenses on account or the executive
was $3,709,161, or an average of $1,854,580
per annum. The expenses on account of
executive for the year ending 30th . June,
1867,-were 9,603.101.' The average expen
ditures under this head' for eight-years
previous to 1361 were: $1,883,510 . per. an
num.. Assuming the expenses of the year
1867-8 to be the same as those of the year
previous the average expenses for the
seven years since 1861 will be $5,432,624 per
annum, being three timts the average ex
penditures of . the eight, years previous.
And so we find it in every brauch of the
Government, whether directly or remotely
connected -. with' war expenses or not
Look at the Congressional -expenses, tor
instance. During the eight years of Pierce
and Buchanan's administrations,' with a
full Senate and House, the expenses aver
aged $2,530,430 per aunum. During the
last seven years we have bad , fractional
Uonses-" ten States not being- represented
yet the expenses of Congress hav aver
aged d,296,8J9 per anuum; an increase of
one-third, notwithstanding the diminished
representation, and the large savinzs zrow
ing out of the Government printing estab
lishments These- comparisons- might be
continued with the same, and, indeed, more
marked results; but it is not nece-sary to
pursue tnem lurcher, rney ail concur in
establishing the tact: that with unlimited
supplies ot "legal' tender,' .called money.
mauutactured to order, a general, indiffer
ence to economy or expense, has pervaded
the party In control ot the appropriations
and expenditures; whilst in tne excitement
and turmoil of war, and agitation - subse
quently, these important matters have been
lira great degree overlooked, or concealed
trom public view. -,
' i I have now examined the leading points
contained in this address.; A recapitula
tion is presented in which it js attempted
to be shown that the maximum 01 tne pun
He debt on 1st August, 1865, was $3,287,
733,329, and a statement of the different
lorms in which the debt existed. Practi
cally, it is a matter of little importance, ex
cept as a statistical fact, whether the pub
lie debt was the amount claimed at this par
ticular period or not. We know what it is
nous We know how much money lies been
cellected from the people and expended
during the last seven years.' These two
amounts comprise the- sum total of ex
penses of the Government during four
vears of war and three and a half years ol
quasi war. The financial exhibit for the last
seven years presents the following result
Collected from the neonle br internal '
taxes, duties on imports. Ac . $3,457,670,943
All this has been expended, except $107,
641,971, reported In the Treasury on 1st
September, 1868.
The particular sources from which this
vast revenue was collected, are as louows
From internal reyenns.. ,.......1.3a4. 570 782 10
FrO'O miscellaneous receipts........ 954,070,144 SS
t rom duties on imports... .......... 814.314 815 47
..02,467.570,942 62
Of which $824,324,915 was in gold.- The
miscellaneous- receipts include premiums
on sales of gold not needed for payment of
interest, proceeds ot sales ot public lands,
captured ana confiscated property, &
This sum of receipts represents only the
moneys' actually paid into- the Treasury,
Commissioner Wells is authority for saying
that "not more tnau one-nait 01 the assess
ed internal revenue ever reaches the
Treasury." ' f '
Now, if to this revenue collected and ex
pended we add the increaseof public debt, we
shall have a clear view ot the operations ot
the last seven and a half years, viz:
Collections from duties, taxes,"o.". .02 467.570,943 63
Increase of publio debt...; . 3.444.741'-585 00
4.91J,3i7.527 52
Less money in Treasury, 1st Scp-
ber. 1868
107,641,971 00
Ralanoe i.... 04.894.67556 53
ine total expenditures during tne
eight vears o. fierce s and Bu-
onanaa'sadministratienj were 500,188.441 97
Excess.... .....04,304,489,114 55
: Assumiug, therefore, that had it not been
for the war the expenditures the last seven
vears of Republican adnisnistration would
not nave exeeaea tnoseoi cue two preced
ing Democratic administrations which were
denounced as extravagaut aud corrupt, we
nnd the excess 01 expenditures chargeable
to the war. or increased extravagance, to
be 454,304,131, 110.
This is a simple statement, notcomoliea-
ted with collateral circumstances or detiils.
which cannot be denied or evaded. The
fact of the collection and expenditure ot
the money is shown by the highest offi
cial authority. The fact of the increase of
the debt is known and admitted by all
to property appreciate toe magnitude or
these expenditures, it is only necessarv to
contrast them with the previous history of
tne country, r rom tne rormation 01 the
Government till 1861, a period of seventy
years, the entire collections were only
$1,803,642 259 , and in that period we bad
war with Great Britain, on sea and land
lor nearly three years; war with Mexico.
in which our armies operated on a foreign
soil, f 1 r nearly two years, and numerous
wars with puwertul Indian tribes.
In the face of these astonishing figures
and facts, the author ot this- address de
clares :
"I challenge any one to deny that this
exhibit proves that the finances ot the
country have been managed by the Repub
lican party with a success never before
known in the history ot the world."
If to make expenditures without prece
dent, to ercate a debt in the short space of
seven years equal in magnitude to the debts
of other natious, tne growtn of centuries.
be a 'Success,' then the challenge may
pass without answer. If to manage the
affairs of Government so that its credit is
gradually getting worse its most sacred
obligations, resting on its plighted fauh,
oearmg six per wuu interest in gold,
hawked about the markets in Europe at
seventy-three cents on the dollar, when the
consols of England, bearing only three per
cent, interest, command ninety-six, be a
"success," then our policy is a success. If
a policy wtvich requires exhaustive taxa
tion to sustain it, exceeding that of any
country on the globe, increasino- r.hn ,-r.
penses 01 living, ana snatching from labor
tne proceeus 01 ua nm, oe a "success," then
it is a success. Ano, finally, if a financial
policy which has banished a sound cur
rency of gold and silver, or its equivalent,
and Buostitutea a mere paper currency, re
deemable in nothing, yet declared a "legal
tender," which fluctuates daily in its value,
and has depreciated fifteen percent, since
the month ot Marco, isw, De a -success,"
then is this financial policy a decided sue
cess; and we may congratulate ourselves,
in the glowing language of the address.
that "the finances ot the country nave been
managed bv the Republican party with
success never before known in the history
of the world."
Havinsr thus reviewed the lcadinp- finan
cial points made in the address, I would
fain stop; but tnere are some other allesra
tions ot a political, yet quasi financial char
acter, that deserve notice,
I do not propose entering into a political
discussion ; but the. reconstruction policy
and the status ot the Southern Estates aneci
the financial as well as the political interests
ot the country, ano are wortuy 01 cuhmu
(krnr.irtn in A. miller relatinz solely to thi
condition of our national finances. Before
proceeding to the consideration of; this
nniwHnn. T pan hardly lorbear referring to
a statement in the address vituperative of
the Democratic party, and indicating in
some degree the animus of the author, as
follows :
"The name of Democrat, in its true sip-
nificance, is one which 1 honor and cher-
ish, and I hope the day is not far oil when
it shall no longer be prostituted to the pur
pog4 of a-party which denies every princi- f
ptotMiir-ared byiu .name, and which, jiia
been tlm party of despotism and of oppres-3
sion ever since I came to man's estate; a
party which now rests. its chance of success
upon the lgnoranceot its lollowers,ana pro
poses to inaugurate war, fraud and violence
under the lead of Seymour and Blair."
What response needf to be made to such
a partisan fulmination t . Nothing, save to
poinj; to the history of the couutry. There
Is to be found the best defence of that great
political organization,'1 which; under the
leadership .of patriotic and enlightened
statesmen, ' has ' controlled ; the ' Gov
ernment; .under "whose administrations (
the - country " has" : increased - t .xjxi
itent, power, t -wealth,--, population, in- -fluence,
and everything that gives dignity.
and . position amongst the nations, whilst
peace, liberty,, prosperity and 'happiness
have been enjoyed by the people to an. ex- '
tent unequalled by any other in the-history,
:of the world. Happy, indeed, vrlll ' ther
people be when the good old times shall be
restored to this now distracted land; when:.7
harmony; peace and union shall aeain ore-.
vail, and the. burdens which' now rest on. t
the energies of the people be removed byJ :
nioo aun ecuiiooiicai sutuinistrsiiuii. -- ,t-,-r-
I The closing portion of Mr. ' Atkinson's'1
letter, which discusses in a masterly man-it
mer the Reconstruction schemes "of the34.
Radical Congress, we are forced io omit, in
consequence of the crowded state ot our
columns. ' t'Cf
r .,.1 1 !
r 1,1 vi TS'f
'I r.r -aifij: ou 4K-'.rl vi A'
-7. .
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nnm-roi nn 1 nn - ' ? -"'i. -
-1 -..IT
! It
il.-'. ' 1
r i-'t i;i
Arid BLANK, j
COLORED of ail kinds1:1,
' ' -J J? ' . - , -'..'.--IT
GIVE US A CAL jL. - "i
.-' : -. -.-.. . J r?-'.;.-!v lit'w
. KEVINS & INTERS, ... . 1
' IMPORTERS and dealers IN '
JEWELRY, ' -, '. "., , ','..
CLOCKS, --''-
SIIiTER aad ,--'i -
1 - . -. ' 1 f ' .1
' - - . - : - - .
CUTLERY, .. .... . ,
430LU PENS, .-r'ti-J-1
POCKET-BOOKS and - ' '
-.!.- . . -,,.,. i ,
f Keep constantly on hand a large assortment of
Setb Thomas and WaterbnrrClocks,
For the Jobbing and Retail Trade. Also, Agents "1
for the . . n
Watch Makers' Tools and Materials. Watch Glass
es (French and Geneva) in full supply at ., ;'
low rates.
All orders promptly filled and satisfaction s
guaranteed. - .
T. A. ft L. LESQUERE0X. -' '
feble-eodly No. 71 South Hixb St.. Coin jibns.
.- DEALER IH ' -. , .i,,-,.,',:.
173 Honth High street, Columbus, O. Repairing "
carefully done anl warranted. mj7-end4ia
DER MAGAZIN K. and axents for the sale of ;
Hazard Powder Compan's I'owder. Agenta for ,
he sale of ' ...
Cclebrnled Sufitar Cured Ilasnw, -
and doalers in
in all their varieties. Imported Wines. Brandies
Cigars, etc. - ,- : iall-eodi .
T. ALLEN, Agent.
rililiCOBI'I'lMUIS A IS. LUA1. BIJ31. p
Ithiro at nis preseui, buuiu, . . ,, ..-7
. No. 13 norm niin surma, . .,, .f
and will take orders in both CAMBRIDGE and ,
HOCKING COAh, which he is prepared to sol at
tbe lowest market price. '
W Special attention paid to chipping. ..

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