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Editorial
June 11, 1803
Rhode Island Republican
Newport, Newport County, Rhode Island
What is this article about?
Editorial contrasts high federal spending and deficits under Adams' administration in 1800 with reduced expenditures and surplus under Jefferson's in 1802, praising Republican fiscal policies for cutting taxes and debt while filling the treasury.
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FEDERAL EXTRAVAGANCE.
In 1800, under the administration of Mr. Adams, the receipts from duties, including the direct tax was
9,000,000
dollars.
And the expenditures amounted to the enormous sum of
14,000,000
The deficit being
5,000,000
was borrowed of speculators and money jobbers, at the rate of 8 per cent. interest.
Contrast this with Republican Economy.
In 1802, under the administration of Mr.
Jefferson, the revenue may be estimated,
(without a land tax or any excise whatever) at
10,000,000
dollars.
And the whole expenses of the
government, including the
interest on the national debt,
amounted to only about
5,000,000
Leaving a saving to the people of
5,000,000
which if strictly and honestly appropriated to pay the principal of the Debt of the United States, and the overplus goes into the Treasury, and there forms a fund, which is only under the direction of Congress. The Federalists ran the nation in debt at the rate of 5,000,000 dollars per annum—and the Republicans, after repealing all the internal taxes, and paying off upwards of 5,000,000 dollars of the principal of the National Debt, have now a full Treasury, while the taxes are reduced and the people happy and contented. These are the fruits of Mr. Jefferson's Administration.
S. Reg.
In 1800, under the administration of Mr. Adams, the receipts from duties, including the direct tax was
9,000,000
dollars.
And the expenditures amounted to the enormous sum of
14,000,000
The deficit being
5,000,000
was borrowed of speculators and money jobbers, at the rate of 8 per cent. interest.
Contrast this with Republican Economy.
In 1802, under the administration of Mr.
Jefferson, the revenue may be estimated,
(without a land tax or any excise whatever) at
10,000,000
dollars.
And the whole expenses of the
government, including the
interest on the national debt,
amounted to only about
5,000,000
Leaving a saving to the people of
5,000,000
which if strictly and honestly appropriated to pay the principal of the Debt of the United States, and the overplus goes into the Treasury, and there forms a fund, which is only under the direction of Congress. The Federalists ran the nation in debt at the rate of 5,000,000 dollars per annum—and the Republicans, after repealing all the internal taxes, and paying off upwards of 5,000,000 dollars of the principal of the National Debt, have now a full Treasury, while the taxes are reduced and the people happy and contented. These are the fruits of Mr. Jefferson's Administration.
S. Reg.
What sub-type of article is it?
Economic Policy
Partisan Politics
What keywords are associated?
Federal Extravagance
Republican Economy
National Debt
Government Expenditures
Tax Reduction
Partisan Fiscal Policy
What entities or persons were involved?
Mr. Adams
Mr. Jefferson
Federalists
Republicans
Congress
Editorial Details
Primary Topic
Federal Spending Under Adams Vs Jefferson
Stance / Tone
Pro Republican Fiscal Economy
Key Figures
Mr. Adams
Mr. Jefferson
Federalists
Republicans
Congress
Key Arguments
Adams Administration Had 9m Revenue But 14m Expenditures, Creating 5m Deficit Borrowed At 8% Interest
Jefferson Administration Estimated 10m Revenue Without Land Tax Or Excise, Expenditures 5m Including Debt Interest
Jefferson Policies Saved 5m For Debt Principal And Treasury Fund
Federalists Increased Debt By 5m Annually
Republicans Repealed Internal Taxes, Paid Off 5m+ Of National Debt Principal, Resulting In Full Treasury And Reduced Taxes