Evansville Journal, Volume 21, Evansville, Vanderburgh County, 29 August 1870 — Page 2

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POBUBHED BT T3M KVAXSYILLE JOrESAL COEFAXT, So. I-oeust Street, Evana-fille. M0XDA1, AlGl&T 23, ISItf. At a larga and enthusiastic meeticg of Republicans at Indianapolis on iturday evening, Governor Conrad Baker delivered the following speech, ia which he makes a complete and exhaustive review of State finances, r.4 managed by the Democratic and Republican parties: se-TA-TE FINANCES. SPEECH OF OYEBXOR CONRAD BAKER, ollvered at Indfanspalls, Saturday Jtvealcg, Angus; sz, isu. ; ttiow-CUlzsns: The past and present indebtedness of the State being matters. of public tsord, open to the inspection ot all, cay be misrepresented, but need not 53 misunderstood byany one desirous )f knowing the truth. ' I propose in what I shall Bay on iis subject on the present occasion, to ether quote literally from the record, rr at least to refer to book and page lot the verification of every statement. It is a matter of history that, Indiana in 183G, under the influence, of the internal improvement mania which tlien afflicted her people, embarked ia the construction of a vast system of public works which soon proved to te largely beyond her ability to complete. By a single act in 1836, she authorized the borrowing of $10,000,000, for ?hich the faith of the State was iledged. The bonds issued under this net, are known as " Internal Improvement Bonds;" and although there rere other bonds of prior issues outttiodiog at the time of the adjustment of the State debt in 1847, I shall, to avoid circumlocution, desigaate all the bonds issued prior to 1817 as "Internal Improvement Bonds." In 1841, the State ceased to provide ibr the payment of the interest on ber outstanding bonds, and no attempt was made to resume the payment of the interest on any portion of aer bonded debt until after the adjustment of 1847. Whan, the State suspended payment of the interest in 1841, her entire taxable property, real and personal, was less than $100,000,000, and her outstanding liabibilities, foreign and domestio, were about $12,000,000. In other words, the State owed an amount equal to about one eighth of all the taxable property of her entire people. In 1845, the taxable property of the State had iacreased to $122,000,000; and, at the meeting of the General Assembly in December of that year, Charles Butler, Esq , of New York, on behalf of a large number ot the foreign creditors of the State, pro posed that the public debt , of the State should be adjusted in such manner, and upon such terms as would under it possible for her to resume the payment of interest on such portion ot the debt as should by the terms of the arrangement be charged upon the revenues of the State. The result of many conferences between Mr. Butler and tbe members aid appropriate committees of the Legislature, was the passage of the act of January 19th, 1846, entitled "An act to provide for the funded debt of the State of Indiana, and for the completion of the Wabash and Ere Canal to Evansvilla " This act was submitted soon after its passage by Mr. Butler to a conference of a large number of the foreign creditors ot the State, held in London, at whioh divers amendments were suggested and prepared for precentation to our Ueneral Assembly, at its, then, next meeting, in December, 1846. The amendments were accordingly presented, and the result was the pas sage of the supplementary act of January 27. 1847. which, as I under stand the matter, largely consists of amendments prepared by the London Conference, and hence the peculiari ties of this act when compared with our ordinary forms of legislation. These two acts taken together have ever since their passage been known as the "Butler Bill." This Butler Bill was at the time of its passage only a proposition, because it in express terms provided that it should cease, determine and be null end void unless bonds of the State to the amount of four million dollars, exclusive of interest, should be surrendered for cancellation under the provisions of the billon or before the first day of July, 1847. What then was, or is, the " Butler Bill?" I answer in brief that it was a proposition made in the first place by a largo number of the creditors of the State to the Legislature, and adopted by it, that, the creditors should take the Wabash & Erie Canal and some 800, 000 acres of land donated by Congress for its completion, for one-half of the principal of the bonded debt, and also for one-half of the interest accrued thereon; and, for the other half, the State was to make provisions by taxation. The principal of each bond was to be divided into two equal parts, and for one of these halves or parts the State was to issueupon the surrender of the old bonds a new five per cent. State bond, the interest being payable, semi annually, and the principal being payable at the pleasure of the State atter the expiration of twenty years. For the other half of the principal of each bond surrendered a five per cent, certificate of Canal Stock was to issue, and the payment of the principal and interest thereof, was to be exclusively charged upon the Wabash and Erie Canal.its lands and revenues, and for the payment of which the otate was not to be iiable. The interest in arrears from 1341 to 1617, on each bond surrendered was to be landed, and interest on the aggregate thus funded was to be calculated at the rate of two and a half per cent, per annum from January 1 1847, to January 1, 1853, and added' to such aggregate, and the sum thus to be divided into equal parts, for one of which halves or parts, a certificate of State Stock was to issue, bearing interest after January 1, 1853, at the rate of two and a half per cent. ; and for the other half, a like Certificate of Canal Stock, chargeable exclusively upon said Canal, was to issue: Four millions of the old bonds of the State were surrendered under the Butler Bill before the 1st day of July, 1847; and that bill thereupon became effectual. If all the Internal Improvement Bonds had been surrendered, the matter would have then been very much simplified; for them the foreign debt, for which the State ia liable, would have consisted exclusively of two and a half and five percent. State Stocks issued under the Butler Bill. Thft result of this is tLt the foriQ iyn h 'l debt cf tee Stats upon

from year to year as old Internal Im

provement .bonds have been surrendered, and new five and two and a half per cents were issued in lieu thereof. Every old bond surrendered decreased the number of Internal Improvement Bonds outstanding, dui increased the number or two aim hair and five rer cents issued under the Butler Bill. . In ascertaining, therefore, toe amount of the foreign bonded debt ot the State at any given period, it is necessary to consider the amount or Internal Improvement Bonds, ana the amount of two and a hat ana five per cent. State Stocks that may bl outstandir-g; and to find the , ejftjj debt of the State, you must of course add to the aggregate of the fore go bonded date tbe domestio debt which may be outstanding at the eame time, and it must be remembered that we l4 for many years, and still have, a domestic debt. DOMESTIC DJCBT. This domestic debt has generally consisted, and still consists, ot moneys due from the general treasury of the State to the Trust Funds held by the State for Common School purposes, and of a few bonds issued to the Vincennes University to compensate that institution for lands which were sold by the State, and the Eroceeds applied to the Bloomington Tniversity, the Courts havicg afterwards decided that the Vincennes Institution was entitled to these proNow, if any one in attempting to inform the publio how much the State owed at a given time, shall take the foreign bonded debt of the State and ronroaont it &9 the entire debt of the State, when there is at the same time a large domestic debt outstanding, it ia manifest that he who seeks truth for his guide cannot safely follow such a leader. Such, however, is the exact process by which the Indianapolis Daily Sentinel, in its leader of August 12, 1870, made the entire debt of the State in 1861, to be $7,770,233, instead of $10, 179.267 00. as it really was. It is a remarkable fact that the Democrats, wb" have been attempt ins to enlighten the people on this subieot. do not refer to the report of the Democratic Auditor of State, Hen. John W. Dodd, made two months and a half before the termination of the last Democratic administration, to ascertain what the debt was when the Republican administration commenced: but instead of doing this refer to the report of the Republican Auditor of State, Hon, Albert Jjange. made .November 1st, lbtl, nine months after the Republican admin istration be?at o find what the debt was the prevk ..a January. In croof. then, that the entire debt of the State foreign and domestio was in January, 1861, $10,179,267 09. I shall quote from the reports ot both these Auditors of State, and shall show that these reports are not in conflict, but in complete harmony. I proceed, therefore, to Quote from the report of Mr. Dpdd of the date of November 1. lbOU, as found on page 28 of the Documentary Journal of 1861. not a garbled extract, but his full summary statement of the oondi tion of the ioreign and domestic debt of tbe otate. It reads as follows: SUXWABT OF THS ENTIRE DBTEDNESS Of TUB STATE FOKJEIGJf AMD DOMESTIC, Internal Improvement Bonds outstanding ............. .......f Five per cent, btocks outstJimd393,000 00 5,322.500 00 Two and one-half per cent. Stocks outstanding. Band be'd by Board of (sinking FandCormnl-tsloners Vincennes University Bands.. 2,051,773 50 1,188.219 61 WJ.585 00 Loan from, Hoard oi commissioners of Binking Fund to pay Interest. July 1. 18T8 Indebtedness ot tbe Ueneral Fund to the other Funds, as heretolore stated 105.000 00 9 :9.188 95 Total... I0,179,267 1)9 Now. hero is an itemized statement of a Democratic Auditor of State, showing the entire debt of the State foreiffn and domestic to have been $10,179,267 09 on the 1st day of No vember. 1360; and if any Democrat wishes to convince tho public that this statement is not correct, it be hooves him to point out the errone ous items; or, if he insists that Gov ernor Hammond's administration between the 1st day of November, 1860, and the 14th day of January. 1861, reduced this debt to $7,770,233, be should inform us how and when this reduction was made, and which item of the debt was paid. If the debt was reduced, and the reduction took place after the 14th day of January, 1861, the redaction goes to our credit and not to that of the Democracy, for the Republican administration commenced on that day. The truth, however, is that no such reduction took place. The Sentinel, in the article before alluded to. says : " The amount of the State debt November 1, 1861, as reported by the Auditor of State, Hon. Albert Lange, was $7,770,233." I deny that Mr. Lange, in the Report cited, makes any such statement. I quote what he does say in his own words on page 205 of the DocumentaJournal of 1860 61; and you will observe that he says the statement is furnished by the Agent of State, and it is well known that the duties of the Agent of State are confined to the foreign debt, and he could give no information in relation to the domestio debt. The language of Mr. Lange' report is as follows, viz: rustic DEBT. Tho following statement of the condition of the public debt is furnished by the Agent of State: BONDS SCSHESDEBD. There were outstanding on tbe 1st day ef .November, I860, as here ofore reported S9J bonds of Sl,UOOeacli ... S393.C0D 00 There bave been surrendered tince that time two bonds of SI, -000 each .... . 2,000 0 Total outstanding Nov. 1, 1861 5391,000 00 FIVE FEB CENT. STATE STOCKS, There have been Issued on ac count of bonds surrenaerea up to the 1st day of .November, 1 9, lhKO :5,322,500 00 There baa been Issued since that time on same account....... 1,0)0 00 Total Nov. 1, 1860 $5,323,000 CO IffOASDiHAir FEB CaVST. STATE ST 3CK. There had been Issued on account of bonds surrendered up to the 1st day of November, IStiO.. .1 82,051,733 50 mere nas been Issued since that time on same account. 1,000 00 Total, Nov. 1, 1360 J2.055.733 50 Now, let us place these three items in juxtaposition, and add them together, which Mr. Linge does not do in his report, and the result will be $7,770,233,50, thus: Internal Improvement Bonds... S91 COO 00 J eirtc'"ilar; v 5,3:500 oj Two and a half per cents 2,055,733 50 Total foreign bonded debt 17,770,233 60 Now, if we turn back to the summary statement before quoted from Mr. Dodi's report, we find that he reported the foreign bonded debt of the State outstanding November 1st 1860, as follows, viz : Internal Improvement Bonds. $ 393,000 to Five per cent .. 5.3-.22.50O Oo Two and a half per cents 2,0.34.773 50 Total . 87,770,273 50 A difference in the foreign bonded debt of the State, as reported by Mr. L' j i J in 1 Sf.O and Mr. Lacgo in 1801,

clusively that the Sentinel loft out of.

the calculation altogether the domes tic debt ott&e otate outstanding November 1, I860, ot $2,403,995 59, consisting of the Vincennes University Bonds $Wi,Dao wu. The Bond beld by the Board of T for -. 1.183J219 64 The loan from same Board to pay interest m u uijr, iixn ioj.iaw uu And, the indebtedness of the Uenerai r uuu iu me uiner Funds...... 930,183 95 The way the last named item oc curred was by the Democracy adopting the financial system of Wilkins Micawber, as improved upon by the female Mioawber, wife of Wilkins aforesaid. Wilkins. vou know, to replenish the Micawber Exchequer always re lied upon something turning up. and when the starvation point was reached, his faithful Emily, who ever did and never would desert him, always insisted on his turning something vp, as, for instance, draw ing a bill and selling it at any sacn fice. The Democracy improved upon this device by turning up the trust funds whenever they were short, and taking a slice and charging it to the (ieneral fund. I hey seldom, bow ever, had grace enough to give a bill or an-I. O. U. for the amount appro priated, and when they did they tailed to pay the interest. It is manifest from what has already been said that, when the liepubhcan State Administration was inaugurated on the 14th day of January, 1861. the entire debt of the State, foreign and domestic, was $10,179,207 09, and cot $7,770,223 50, and that the inisrepre sentation consists in omitting alto gether the domestic debt, which then was $2,408,993 59. To start with then, tbe Republicans, In January. 1801. suc ceeded todebtof...,.,.....flOfl7987 09 XU ILllS BIJOU 111 UU HUUtMl H(0 war loan bonds, rendered necessary by the war, and authorized by the JLeglxlature at Its special session in 1r8L Add, also, Indiana's portion of the direct tax assessed by Congress in 1&62, whioh was assumed and paid by the Republican Administration without any fresh levy on 2,000,000 00 the property of the peopte.. 001,815 33 Total -..13,081,lia 42 By these additions, we see that the necessities of the war increased the State's liabilities in 1862, from $10, 179.267 09 to $13,084,142 42. The question remains to be answered how much of this large indebtedness has been paid off, and how much thereof still exists? In answer to these questions, I state that on the 15th day of July, 1870, the account stood as follows, viz.: Five per cents outstanding l 1,145,197 33 Two and one-half per cents outstanding 3,1:9 13 War lioan Bonds... . . 204,000 00 Total of Foreign Debt on which tbe Btate pays Interest l,3o3,3I6 46 To meet tms we nave on nana, in the Treasury of the Ktata Debt Kinking Fund Commlssianers, belonging to the Htatet 999,02977 Balance 8 353,288 69 To meet this we have Trust fuods whioh may be applied by law to the redemption ot this balance, amount ing to $500,000; and, to reimburse the sum which may be temporarily borrowed from the Trust funds, we have the State Debt Sinking Fund tax for 1S70, now on the duplipate which, judgicg from the results of last year's collections, will yield $640,000, and will replace the Trust funds bo used, and leave a balance of $286,000, which can, if the Legislature shall sea proper to recognize them as a part of the State Debt, be applied to the redemption of the 194 Internal Improvement Bonds still outstanding, and amounting, exclusive of interest, to $194,000, or thereabouts. This disposes of the foreign debt of tho State and it only remains to atate the amount of our Domestic Debt; It is as follows, viz: Vinoennea University Eonds..,1 63,f.85 00 lue BcqooI Fund, for which non-negotlable bond has been issued payable to that Fund with interest payaoie semiannually ...... ..-- Amount due same Fund for which no bond has yet been issued - - - 3,551,316 15 67.700 00 Total Domestio Debt 3,6S.',601 15 By way of recapitulation, the figures may be stated as follows, viz: Entire debt inherited by the Republican administration in l&til Irom their predecessor! - 110,17957 64 Increased by the war in ISM to 113,081.142 7 Foreign debt In 1870. paid or provided for as before stated 3,682,601 15 Deduct this from tbe liabilities of the Btate in 18d2, as before stated, 113,084.112 97, and yon have a positive reduction of the liabilities of tbe Btate since the accession of the liefmbllcan administration In K61, of . . f 9,401,511 82 The small domestio debt still outstanding,. with the exception of the Vincennes University bonds which only amounted to $63,585 the State owes to her own school fund, and the interest paid thereon by the people is returned to them by being apportioned semi-annually among the counties for the education of their children. In the face of such a record as this, men may deny that there has been any substantial reduction of the State debt just as Mr. Yoorhees denies that there has been any reduction of the interest bearing national debt, by General Grant's administration; but candid and intelligent men will know how to appreciate such denials. Now, in contrast with this, look for one moment at a specimen of Democratic financiering: In 1852. the Democracy did, as the Sentinel claims, provide for the levy of a tax of two cents on each hundred dollars in value of the taxable property of the State, as a sinking fund for the redemption of our bonds. Tho proceeds of this tax was to be ued in the purchase of the bonds of the State, and these bonds were to be held by the State Debt Board of Sinking Fund Commissioners, and the interest thereon was to be collected from the State, and used in the purchasing of more bonds; and by this process the Democratio Administration had. up to November 1, 1858, redeemed $391,810, of the State stocks. Now, what do you suppose became of the stocks so redeemed? I think I hear all say, why, of course, they were cancelled, and that was the last of them, except that they were held by the State Debt Board in their cancelled condition, so that they might collect the interest from the State on them, and with this interest take up other bonds. No such sensible disposition, I assure you, was made of these redeemed bonds. What, then, was done with them? I fear if I should tell you in my own language, you would think I was attempting to burleeqae my political opponents, and I will, therefore, adopt the language of the Democratio Auditor of State, Hon. John W. Dodd, in his report of November 1. 1859, which you will find at page 93 of the Documentary Journal of 1859-60 " These stocks," says Mr. Dodd, " Have all been sold to defray current expenses, and to meet the semiannual payment of interest due in New York on the 1st of July, last." This beats anything ever achieved by the Micawber family in the financial line. Fatting the redeemed

ket.and selling them without author

ity of the law to raise funds to pay the salaries ot these hopeful -officials, and to pay the interest on the other bonds outstanding! Was not this turnms somethinz ud with a vengeance? And vet these men are to day the howling cham pions of finanoial reform. No won der that such hnanciers are in favor of issuing fourteen or fifteen hundred millions or non-mtere3t bearin greeaDacsa ana renaering them to oar creditors for a like amount of interest bearing bonds. Surelv. if a mod ern confederate Democrat cannot lift himself up by the straps of hi3 boots, no one else need try the experiment. But the cream of the joke has not yet been related. I have given you to understand that, after eight years of financial labor, the Democracy, in 1858, had actually succeeded in taking up State Stocks to the amount of $391,810 00; and that they then put these same stocks on the market and sold them tj procure funds to carry on the State Government, and pay the interest on the bonded debt of the State, but I have not told you what sum these stocks were 6old for. I now inform you that these stocks. amounting to $391,810. on some of which, interest had run from January to April, and others from July to October, were sold for the magnificent sum of $267.101 971 For the proof, I refer you to the same Documentary Journal, page 75, and to the records of the Treasarer'fl office to show that a patt were sold in April and the rest in October. The Republicans have, after paying interest on them for some ten years, again redeemed these same stocks by payirg par for them : and we promise you that they thall stay redeemed this time, unless you entrust them to Demo cratic omcials, in which case you had batter take out a policy against acci dents! In addition to reduciog the liabili ties of the State, nearly nine and 1 half millions of dollars, and placing the comparatively Bmall amount s till outstanding in such a condition that it practically amounts to no debt at all for we owe it to ourselves, and the interest we nav on it is expended in the education of our own children the Republicans, since 1861, have ex pended more than a million of dol lars in increasing the number and en larging the capacities ot your benevo lent institutions; in buitdirg Reform atories and other State Buildings, and in the construction and completion of tbe Northern .Prison. The Democrats turned a deaf ear to the command of the Constitution, which says the General Assembly shall provide Houses of Refuge tor juvenile offenders: but we have exe outed it by provided an institution at Piainfield, which now shelters nearly two hundred boys, most ot whom would, but for its saving influence. grow up to beoomo a terror to the lovers of good order, and ulcers upon the body politic. We have provided the Soldier's and Seamen s Home at Knightstown. in which more than three hundred sol diers and soldier's orphans are cared for and educated by the bounty of the State. We have provided the State Nor mal School at Terre Haute, which I predict will ere long be the crooning glory of our system of popular education; and we have, by liberal appropriations, placed the Stato University in a position far in advance of anything it ever knew under Democratio rule, and we are now erecting a Reformatory for Women and Girls, which will soon relieve the State from the terrible odium of sending women to the penitentiary. We have doubled the capacity of the Hospital lor the Insane; enlarged the Institution for the Deaf and Dumb, and ereoted a suitable building for the State offices and Supreme Court, and all this without the suspicion of a fraud in the contracts or disbursements. , Of course the current expenses of these new institutions, and of the old ones enlarged, and the increased cost of supplies and subsistence over the last Democratio decade, has made a corresponding increase in the public expenditures; but thanks to the good sense and public virtuo of the people of Indiana, they do not object to any increased burden which the progress of the 8ge may demand, provided the proceeds of tbe taxes imposed are honestly applied to the purposes for which they are contributed. Again: look at the peoples colleges, our common free scnooLS now as compared with 1860. The State is today dotted over with nearly nine thousand school-houses the exact number is 8,666, or ninety four on an. average to each county. In 1860 the State school tax collected was $387,920 27, and the entire revenue for that year, which ought to have been distributed to the counties accordiog to the number of children in each, was $998,333 24; but the amount actually distributed wasonly $544,980 90, or a little more than half the amount collected; and, although the Constitution requires the income of our school fund to be sacredly applied to the education of the children of the State, the Democracy had other uses for it; and, therefore, they retained ia the Treas ury for the benefit of Democratic officials the snug sum of $454,357 24 which, in law and in conscience, belonged to the children for the procurement of their intellectual daily bread. In 18G9, the School Tax collected was $987,563 41, nearly double that of 1860; and the entire revenue collected and subject to apportionment among the counties, for school purposes, was $1,496,388 35, and the amount distributed was $1,4S9,052 92; the distributions falling short of the collections only $7,325 43; and the reason why this small balance was not apportioned, was that it could not be done without dividing to each child the fractional part of a cent. The division stopped with cents, and was not carried down to mills. In I860, the School Fund proper was 16,016,651 00 Of this sum there was productive 3.184,262 00 Leaving unproductive...... 1262,392 00 or, nearly one-baif of the entire fund. The reason of this was that the Democratio officials applied the School Funds to other purposes.thereby making the general Treasury of the State debtor to this Fund, but they failed to provide for or pay to the School Fund interest on the sums thus abstracted, and this interest never was made good to the School Fund until the Republicans did it after their accession to power. They now boast that their interest account was small in 1S60, as compared with the interest account now; considering the indebtedness of the State at the two periods, well it might be when thty practically repudiate the interest on 2,342,408 59. which they had illegally abstracted from the school funds. Now under the pretext of reform they propose to restore the same piratical crew to the command ot your educational ship. In 1S69. the entire school fai l of tho State was $3,350,363 G9, all of

and nearly all of this is in a condition ti be made productive as soon

as tho Legislature shall provide for j its investment. j But it is charged that, if the results j of Republican administration in this j State are as we claim them to be,' these results have been accomplished by the most enormous taxation, accompanied by the most astounding extravagance. To prove this, the Sentinel, in the article alluded to, instituted a comparison of the ordinary expenses of the State government, and aleo of the amount ot taxes assessed daring ten years ot Democratic rule and a simi lar period ot liepubhcan rule. you may judge of the value and truthful ness of these comparative tabular statement when I inform you that the year 1860, the last year of the Willard-Hammond administration, is set down in these lying tables as the first year of Republican rule. Everybody except the managers cf the Sentinel knows that Governor Hammond retired from office and Governor Henry S. Lane succeeded him in January 1061; and the year 1860 was, therefore, a year of Democratic rule which we utterly decline to bave shoved over on the Republican decade. I commend the Sentinel, however, for its anxiety to get rid of one year of bad government; but assure it that the attempt to 6how that Governors Willard and Hammond were Republicans in 1860, must fail even among the most ignorant of Democrats. The ordinary expenditures of the State Government properly include the expenses of legislative, Judicial and executive branches of the State Government, disbursements, made on account of the Benevolent Institutions, prisons, reformatories.etc, etc ; but do not include payments of principal or interest on the State Debt. In the Sentinel's tables on this 9ub ject, the Democratio administration from 1851 to 1859. inclusive, is com pared with what is pretended to be ten years of R publican administration, irom loou to xouj inclusive. We turn back the year 1860 to them and for it claim a credit for $119,676 85 the amount charged to the Repub licans at the expense of that year. Charging this year to us the Senti nel foots up the ordinary expenses of ten years ot Democratio administra tion at $1,145,329 56, and ten years of Republican rule at $2,059,963 58. making an excess for Republican over Democratic rule of $9,141,634 02, or, yi,40J 4U ot an excess tor each year. Now, as there have not yet been ten years ot uspublican administration, I propose to reduce the comparison to the last cine years of Democratic rule, and the first nine of Republican. To da this we must deduct from the Sentinel a Democratic tables the years 1S50 and 1851, the amount charged (or those two years, being $155,425 46. this deducted from the $1,145,329 56, and we have, according to the Senli neCs own figures, $939,904 10, as the ordinary expenses of Democratio rule for the eight years, cotnmenoing with lfcSa and ending with 1859. Add to this for I860, the ninth year, the sum ot Sliy.bTtj So. and we have $1,109. 5S0 95, as the ordinary expenses of the btate for nine years, from 1852 to 1860 inclusive, under Democratic rule. According to the Sentinel's figures we bave. as beloro stated. $2.0o9. 963 58 as the cost of Republican rule lor ten years from I860 to 1869, m elusive; deduct from this for the Democratio year I860, tho sum of S119.G76 80, and wo have, aocoruing to mo sentinel s, own Cgures, 1,'J1U,--cu 40, aa me ordinary expenses tor nino years, from 1861 to 1869, inclusive. But in thia sum the Stutinel has charged the Republicans with $565,920 92 as ordinary expenses, which were in point of fact interest paid on the Domestio Debt of the State, as follows, viz: , For 1837..... For ls........ For IbU'J .......... 8150.826 73 202,m 0! 213,075 7 Total for three years ... S565,9: 11 ueuueung men iniH boo.y-tt Ti From the previously charged.- 1,010,26 73 And we have 1,71,3S9 81 As the actual amount of ordinary expenses for nine years of Republican rule from 1861 to 1869, inclusive. Now, if we take from this sum ths $1,109,530 95, ordinary expenses of Democratio rule from 1852 to 1260 in clusive, we have, as the true excess of the Republican over the Democratic period, only $215,379 86, or $23,931 09 for each of the nine years; a sum much less than the increased current expenses of the Benevolent Institutions aod Reformatories consequent upon the increase of population and the increased number of inmates in those Institutions. concluded to mobrow. SADDLERY, ETC. GEO. TIIOUNHILL, XAsvriOTDEia or 8ECOXD STBSEr, near Sala, EVANSVILLE, INI), All Kinds of fine Saddles and Harness eons tan tly on hand. REPAIRING done in the best manner and at short notice. (mh5 dHrn Charle3 Babcock. & Co, IMPORTERS AKD DEALERS TR Coach & Saddlery Hardware Springs, Axles, Wood Work, Damasks, Harness, Enameled Patent Leather Pad Skins, Sortings, &c, &c, . No. )rt Malu Street, raaan RVASrtVU.l.K. IND. EVANS7ILLE GROCERY, iXo. 136 itin Street, Has on hand, and is constantly receiving, a lull stock of staple and fancy Groceries, Lamps, Hatter, Kgsjs, fcc, Ao, Lime, Cement, Plaster, Nans, Ac, 4c, for sale lw. To Contractors and Esiidera. First Quality ISnildms Sana at reasonable rates; Good Seas sued Wood Constantly on Hand. Tt3Q WfJOd C3nf tor an d Charcoal Burners wanted. The timber wltnln one mile of the city. mn em jab. ubofts. Wedlock-. Thi Basis of Civil. Bocikty. Essavs rot Yon nil Men. on tbe honor and bapuloess of Marriage, and the evils and dangers of Celibacy; with sanitary help for Ine attainment ef man's true position In life. Sent free, la sealed envelopes. Address HuWABI) ASSOCIATION, Tot r, PHil. de.sk.ia, Ft ttteiO dAwsim

SC3APKER, BUSSING & CO. Sow offer their entire fctack of iuuuicr I3rT 3ooi1m -It Greatly E9du3ad Prices. 20 CASES STRAW HATS,

Just received on consignment, and selling fcr less than Half their Former Trices, Anrl other Millinery will be sold correspondingly cheap. AU kinds of Millinery woric aono to order at short notice. In a No. 1 first-clasa style by the most expert, enced Milliners. Mosquito Bars and Fixtures. We have the cheapest and best fixture In ose. Beady made Bars always on hand or made to order on short notice. SCHAPKEh, BUSSING & CO No. IO Main St. IJyssj T fj VST RECEIVED A NEW STOCIt Of BRASS KETTLES, ENAMELED KETTLES, ENAMELED SAUCEPAN 3, APPLE PAKER3, PAHEE, C0RER, and SLICERS PATENT PEACH ST0NERS. All of the above at LATEST REDUCED PRICES Also ft large stock or BUILDERS' HARDWARE FRED. P. STRAUS & CO., SO. 71 MAIN HTUK12T, Betwoaa 3econd and Third Streets, 81UN OK THE BROAD-AXE. yl3 Demokrat, Courier, and Union copy. BAUdlLOai. JAMES DAVJUUOM. J.bOli SAMUEL ORR & CO., DIAUSa x ZEOH, STSEL, TIX-PLATJK, Will;, ZINC, SPUINGS, A- X. JL. 13 H, Horse and Mule Shoes, Tinners' and Elickamltta' Tools, WASOS IND fiCGSl HOOBWOKX WBOtUIIT SCRAP I It OK BttCQHI At tba highest market rate. Sycamore Street, near Water innli dU EVANS VILLE, IND. B&TIaClIBE, ZMAA)UU & to (Successors to Wells. Ke;iogg & Co.) IMPOKTEKS AND J03UEKS O H.AUDWAH ii. 13 ixst Ntro-i SIGN Oif THK BIG PADLO( 3 K AA'KS, AXES, , A X 5, i.l lis, TAB LA CUTLER i, TABLE CUTLERY, TABLE CUTLERY POCKET CUTLERY, POCKET CUTLEIIY, POCKBT CUTLERY, Trace Cluilu, Trace Cliainw, Trace ChaiiH, ftantera Hoes, planters' tloeti, Planters4 Hoes, Mechanics' Tools, Mechanics' Tools, Mechanics' Tools. Bl'lLyattB' BAIiUWlliE, ItliLUtfilS' niliUWlBt, tiiiliUZiiS' HAKDWiKK, COTTON AN I BOOLMKIMi, CO I I ON AN I WOOI. CA K H, COTTON AN O WOOL CAHDN SAr RUBRICS BKLT1F0, BXJiT HUBBICK BULTfNy, wr hvbber BBLTiya, Mill and Croas-Cat Saw, 2LU1 and Croes-Cat Saws Mill and Cross-Cat Saws i'AMif tin vnni wtll find It to their advan tage to examine oar sloe befor parohas lo 4 olaewbere. At the Old Stand, 13 First 8: SSITlCfllS, KELLOGG A CO. tylS SAW nixi,. ESTABLISHED IN 181.1.1 JOHN V. REITZ, PROPRIETOR OF TUB S j. W MILT At thij Moati of Pigeon ' i:HUHvilIe, IudUn i Manufacturer and Dealer In all Kind Poplar. Oak, Ash, Qua and 7alaa Lumber, Lath and Shingles. M-nHen! let t P.elt Hsny1 Port. dry will prorortiy atUndod to. ias 1

THOS. C. SMITH & CO., l'KODCt'E AXi Commission 2Xei'eIi't.s Dealers In Floor, Hay, Oats, Uraes Seeds, and .Produce generally, No. 5 Sooth Water Street, EVANS VILLE. Orders promptly attended to. iaiu dly C. C. Ltox. E. C. Machkn. LYON Ac EXAOXilSIV,

Produce and Commission Morchan t, Dealers in Hay, Corn, Flour Oats and 1 roauce Uenerally. Ao. 30 North Water Street, nov!3 3m EVANS VILLE, IND. K. H. FAIBCHILD. JOHN W. BINGHAM FAIUl'LULD a I!LGIIA51, Commission JJereh't NEW ORLEANS, LA. Personal attention, and prompt returns guaranteed fnovR dfim JOHN H. SCOTT, Ioo keeller, H tat Ion r IBS X K W H l JG A I, IJ 11, So. 51 Mil STEI.ET, cor. Second, an 15 dly Kvaissvh.i,. In a. nm a baeteu, Wholesale Eouiscllera & Stationers, SCHOOL BOOKS, BLANK BOOKS, SilSCEL LANEO US BO OKS, PAPER EN VELOPES. AXThGeneral fJtnlloncr, No. IO Main street, EiansTille, Indiana. IirSXTIiAIICXJ. NEXSEN & BAKER, General Insurance Agents, AND ADJUSTERS 0? LOSSES, No. 10 Ilaln street, Up-Stalrs, EVANS VILLE, IND. Dwelling Honses Insured for a term of years at greatl) reduced rates. Three Years at the Price of Two Five Years at the Price of Three. Life Insurance n Hpccialty. Total Cash Assets Represented Oi er Twenty-Seven Million DoIIsjb. The following are among the Companies represented : JET 71 A Insnranoe Co. of Hartford, Conn. CaJih AhhoM H..S,AOO,OUO. FH4EMIX Ins. Co. of Hartford, Oonn. Cash Assets ........ ....I,700, OOO. COSnriWEBTTAI. Ins. Co. of New York. Cash Assets ....0,350,000. KOUTII AMERICAN Insurance Coo. Hartford, Conn. Cash Assets 8300,000. iir.KCIl A NTS' Ins. Co. of Hartford, Ct. Cash Assets ..30,00 NORTH AMERICAN Insurance Co. of JNew York. Cash AsseU ...... .....S00,O00. PIKE W IX Ins. Co. of Brookly n N. Y. Cash AsmsU...... Sl.HOO OOO. TOXKEKM A fi. TOKIt Fire Ins. Co. Cash Asets tf'joo.ooo.oo .ETNA 1.1 FK Ins. Co. of Hartford, Conn. casn Assets u,u,ooi), NEXSEN' & BAKER, Agents, 10 MAIM fcTflKfcT, KtRuftflile, Ind. Jan20 dl7 The Icgredients Composition Pnblished with EVJEITF ISOTTJLVE. Recommended by many of the best Physicians in the Land. Dr. John Magenlss, formerly of tbe Royal College of Surgeons, and Burgeon In the Fnited States Army-, during the recsnt war, says : KVANSVILLE, INDIANA. I take pleasure In recommending Ir. II. W. Cloud's IM ICiOKATIXU COB DIAL as a remedy of superior excellence. In debilitated conditions of tbe system, It has proved. In my bands tbe bett combination of Tonics and Stimulants that 1 am aware or. Jyl9 JOHN MAGENIS3. M.D. BRASS TO UNDER cC JOHN lriNSON, BRASS FOUNDED AN'iJ W-M13H2R Steam and Gas-Pipe Utter, Manufacturer and Dealer In H learn and Water tianges, BpeiUjr and Kabbllt Metal, and all Articles appertaining to a Brass Foundry. STEAMBOAT AND GENERAL CLACK. BBirnixc, Water Street, bet. Pine and Leet. EVAN8VILLE, IND. mm-t'.h oatrf for Old Oonpr and Rrsss. FOIl SALE. FOB AI.E VALUABLE MAIN HTBKKT PROPKKTV That splendid property mown as the Egler property, situated on the west corner of Main and Street and 150 feet on Blxfh Htrnet. Bald property is offered for sale at low figure on easy terms. Acnlyto Keal Estate AnntJi, ' Corner Loonat and Third Mtrt alB dtf

A n'MVlBaMriMcl 1 CCRDIAL ! If worn T T (DYSPEPSIA t rf t . i tivtn ' 5 ! ffCOMPlAIMT j

T. II. WATTS : CO, (SCCCEiSOKS TO V.'ATTS, Ll.VN Si ( u. General comjiission MmmiM No. 3 Piouisnada iftrctt, Elliott JJlocll, third loor abovy U-v- o an.! WlifcllbOHl, CoDHlgnmrtt MUfittl. JyJi;.,;m lAHOtt H. KlNliDf. Jt'LitS J I ' 8. II. KENNEDY Z CO., Commission i'lerelx'frt TZiH T1J S KAt K :' Floor, Provisions, Don:, Vlly And Western Trod-jre penera (y, 53 nnd 07 I'OTIMUH M E! I I T, ifc.W Oltt.KA.NX, 1,A Consignments aol ?Ud, nd I: cil t,u i, ad vancwi made on t uipiueutn ! t c. u,: v boune, by W. M. AKi.

oc'l dfim hvwviur, 1 F0STKB fi xx Y X , COMMISSION LiEKCIIAll j , s 07 MAf.421 x i H-r 1 1 1 ; ri IfK V,' OKLEAJS-l, TSPECIAl. ATfESIUIJi tJIVl.JV Jm4 Western i'rod ice. Consignments of Flour, Corn, r -and all kinds of Western hroduitMlci Liberal cafh advi iHw ii'Hile tut ail ni menu, either for n le In jw ort . shipment to New or a. rSTi:n,avY. 6-v. o.. CommlHHlau Tl -; In u v 41 WA1 I'll hiiu.i l , novl-d3ml KKV YOUJ HA BLOW J. l'n r.i.yn, of New wri ''.'', J. O. M CC C IAAh 'H. fif lOHil.v;n, lv. Jbi b ott, of fie f 6; .omi.s. Phelps, I2c:tillceli PRODUCE, PRO VI SI Ofl, AND GXKXEAh Commission LIorcMnt: 112 CKAVIKIi hlilZU, no v24 d tf ' k w o i. k a .n : mi. G. CC0T7K a CO., FGmardinj sjii Ccnni::! H 2. e r c li . n t u 5 WHARFBQAI FR0FRIKI0I;?:, Railroad and Fast Frcl ht 1, EVANS VI M.N. I Nil. Jan 8 dly a. s. iiAiimnsr, PRODUCE, VOilMIH.jIU.y AXV f WARDI3. tf MJ'Ii VI I A A T, No. 6..... .Korjtli Water r: Dealer In Flour. Bacon, Ms y, t i ', tand Country 1'roti ace. F. M. HUMFHREir. 3o. J. J.K i - - UUMPIIRLY & m:vis F0SWABD1XC ASD COaillESHf MERCHANTS, Iroirlclort of IV.sitrlb lCvn ?" ' i 1 1 o, !.' I 1.V1I X.. U. BA.IS.l1 II ME I) GKWKKA1, AfJXCVr.S, vtr m.. ' Forwarding and Coiu uj -.le!! j cuants, KVHiiHVlll , Jnii:;.,n t. t.. Q Wheeler. 1'rnn't.. Fln.t Nun . il ;,. snd Hiuji'i Orr, VI oe 1'iv.hidoot I .vum National Banlc. Agent for Mason City B!t Co. u . WJB WO It I. It Li i: HI I .-. t I , friends and torriirr inlriLin t.t w. are on Fll'-MX H''KA.fc.r, ohm door I.e. Vine, next to L. Pli-r'ii'n i ,,,! in the trado of JAQUOJCi, f,ni-;;., v illmlOZili, Ac, U id snotiJd I,., i.lt. ; eetheui. it. 1. ALUiH.i i II. I. ALLIEN , ::;.. rORWARDINU Alii) (;0.::u5..; MEI.CI1 A iT.?. KKCT1FIEKH, an! Who .'.-:.. 1 (. LIQUOR , I'LUlil, i.. F I R S T S T R j; E One door below V!n, m-.xt to Ij. Tin ,;,, .''.ViKSVI LLt, i l lanl dtt. SOMETHING Villi IM W.MIVA T. AT M:Iff,KPF:ir.i IItl m i: I .". TION hlOllr:, -uu Itu f.-nn.j, I tue ImwhI sud lfht. ns.rru-.i (. H DruH, i'atent M )diolni-. mii; Mi iln i' ; Wlues in the Wet t, the fuUnvlii;j Ji-.t ot SPECIALTIES: Sponubs and Chamois Kk Ids. Jpomadew and Toilet I'owli. ri. Jgxtraets, Cologtit-p, and Tolltl Water , loudray'ii Baclii I I'owdein. Jndla Rubber Bj rlnge.i and Ilrahnl I'm.. . tlnll, tf Co-'obs and Hair llrusln- . Jadlca'and UenUeiuen'M I'ocKet ) '. ' rjrioolb. Nail, and Flesh UrushcH. Ink standi ac 1 ilatcb Hafofi lor ' pocket. EnKllKh.Freucb, aud Amt-rlcuu Ti: t boa ih. O boulder Biacef, Trujsm, arid Sar i.. 1 1iZj ers. All of the above atticles wili be (,(.! ! very low prlci. REMEM121LU THIS FLACK, CORStH M.tIA AMI M. .; HI :. Je3 Cm GJZO dZTtTHH. GKAIIA.n FtOI'H-L'i.bolt.. 1 orllhwni h'tour, lrii (jrnuij f, 1 'a u. . ouaotlties to suit purcnMTH, ui VJ K Ki; t liKiiV, aul TJaii'J 7i MhIii ?-.!r(. JP"IMim Hetc-'d whlt wh-;.t F our X W W per ba-j - ViCKKRV Itif .'. fcUI ".8 and 7i A! :iin m i .... aki im; woi-.it-Oo.. .. -. . JO I'fiOoV, Duik ' and f.tvtiojo ii-k'b reduced pnciH. wood itaklnx l"ow.t. actual weight, at f'J xnts pr .o-Hi ! io had at VJCK.KKVH M'lii,.f,-i, aul 7 ( w rid Til M ; n .-- . BBOOMS! HllHUISI-M(l. ed lor sale, wlijli?Hile un i r. 'i OOMe 7SDtlllK -x fa K'x.d l-.ivy ii. o , cheap, can 11 ud Itu m t VlCKFUV'rt HT')!; ' aul 7 i anil 7( M iiiii L1 and Que, f ir nam vrylow lo I j-. A i r II. lor mauy yeain pievlouK.t vicKi.r.ii - 4. au4 T.l and 7(i .Main si -... X "J d iZ!U In - lor.' Ht.( (or m His I y V1LKIMIY I ;. I - u4 7i and 7ti Main n and torsaia by VIL KKitt i.i. .Ul 1 73 nnd ill AtHhi r.,r.Tne Fearful CAXCSU Bnfc.lorl. THK CUKK-HOW insiovi ' r HavlnK been long alllloted with CA Si I resorUid to all ibe r-i'ii!:N of vvljU; CJUld bear. Amoaa thm i t ona r aiendlng a certain herb to ine hi sn I (as I suriM)Ht'j) procured the t t mad prepared nnd npplio.1 it, wi msue a perioci m., iraiou tininiiim; bv the furnlly physician 1m 1 1; loi i,,, -,! tliattbe bt ru 1 '.1 unml, wlit n ba-1 m: a prfct and sjxe ly euro, was mt I. mi rocommunde I. Allwnor alilii i. i find a upcwly cur-j ly mjiniiuu lor ti clpe. Willi lull dirt eliona ior u ft i, AUdresM, witn rt laierea imimt or n orilM.UEOttUK ilOHOAN. H.i.i Jrvl, liraat'i Jounty. tt :v Vorit, j is ui-a

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