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Editorial
February 3, 1835
The New Hampshire Gazette
Portsmouth, Rockingham County, New Hampshire
What is this article about?
Editorial from N.H. Patriot defends Democratic administration's use of New Hampshire's 3% stock (about $50,000 in 1828) against Federalist claims of squandering. Funds paid $20,000 debt from 1829, relieved 1833 state taxes ($45,000), built new prison ($17,555.75 + $3,000 wall), and covered presidential reception ($6,000). Blames Federalists for extravagance and higher costs.
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From the N. H. Patriot
THE 3 PER CENT STOCK.—The federal papers say the three per cent stock, which in 1828, amounted to about $50,000 dollars, has been "squandered." Let us see how, or by whom it was squandered. When the federalists went out of power in 1829, they left the State in debt, as appears by the Treasurer's books about
$20,000.00
To pay the State tax in 1833 none having been assessed upon the people say
45,000.00
To build the new Prison
17,555.75
To build the new Prison wall about
3,000.00
To pay expenses of reception of the President of the U. S.
6,000.00
$91,555.75
This is the way the 3 per cent stock has been squandered: in relieving the people of State taxes, in building a new and permanent Penitentiary, the best of its size in the United States, in paying the debts of the extravagant federal administration in 1828, and in paying the expenses of the reception of the President of the United States. This is the "squandering" so much talked about. In 1833, the people did not pay a cent of State taxes. They were relieved from State taxes entirely by the sale of the 3 per cent stock. Was the amount which went to pay the State taxes for 1833, "squandered?" Was the amount which went to pay for building the new prison and the new walls "squandered?" Was any part of the amount "squandered" which went to pay the expenses of the President's visit? If so, the federalists more than the democrats in the legislature were to blame, and they more largely participated in the amount expended. The editor of this paper was Chairman of the joint committee to report what arrangements were proper to be made on that occasion, and he opposed the calling out of the militia, for the very reason of the expense, which we knew would hereafter be brought up against the democratic party; but if we mistake not every federalist on the committee was in favor of the measure. Had the militia been dispensed with, nearly the whole amount expended would have been saved. The editor of this paper also successfully opposed the bill for paying the companies about 3000 dollars beyond the stipulated amount, for their services, which every federalist voted for, and for the very purpose of making the amount as large as they possibly could; and one of them had the modesty to charge $50 dollars for the use of a horse one day. For the $20,000 which the federalists left the State in debt in 1829, the democrats certainly are not responsible.
From the N. H. Patriot
THE 3 PER CENT STOCK.—The federal papers say the three per cent stock, which in 1828, amounted to about $50,000 dollars, has been "squandered." Let us see how, or by whom it was squandered. When the federalists went out of power in 1829, they left the State in debt, as appears by the Treasurer's books about
$20,000.00
To pay the State tax in 1833 none having been assessed upon the people say
45,000.00
To build the new Prison
17,555.75
To build the new Prison wall about
3,000.00
To pay expenses of reception of the President of the U. S.
6,000.00
$91,555.75
This is the way the 3 per cent stock has been squandered: in relieving the people of State taxes, in building a new and permanent Penitentiary, the best of its size in the United States, in paying the debts of the extravagant federal administration in 1828, and in paying the expenses of the reception of the President of the United States. This is the "squandering" so much talked about. In 1833, the people did not pay a cent of State taxes. They were relieved from State taxes entirely by the sale of the 3 per cent stock. Was the amount which went to pay the State taxes for 1833, "squandered?" Was the amount which went to pay for building the new prison and the new walls "squandered?" Was any part of the amount "squandered" which went to pay the expenses of the President's visit? If so, the federalists more than the democrats in the legislature were to blame, and they more largely participated in the amount expended. The editor of this paper was Chairman of the joint committee to report what arrangements were proper to be made on that occasion, and he opposed the calling out of the militia, for the very reason of the expense, which we knew would hereafter be brought up against the democratic party; but if we mistake not every federalist on the committee was in favor of the measure. Had the militia been dispensed with, nearly the whole amount expended would have been saved. The editor of this paper also successfully opposed the bill for paying the companies about 3000 dollars beyond the stipulated amount, for their services, which every federalist voted for, and for the very purpose of making the amount as large as they possibly could; and one of them had the modesty to charge $50 dollars for the use of a horse one day. For the $20,000 which the federalists left the State in debt in 1829, the democrats certainly are not responsible.
What sub-type of article is it?
Partisan Politics
Economic Policy
Taxation
What keywords are associated?
3 Percent Stock
State Debt
Tax Relief
Prison Construction
Presidential Reception
Federalists
Democrats
What entities or persons were involved?
Federalists
Democrats
President Of The U. S.
N. H. Patriot Editor
Editorial Details
Primary Topic
Defense Against Accusations Of Squandering 3% Stock Funds
Stance / Tone
Defensive Of Democrats, Critical Of Federalists
Key Figures
Federalists
Democrats
President Of The U. S.
N. H. Patriot Editor
Key Arguments
Funds Paid $20,000 State Debt Left By Federalists In 1829
Relieved People From $45,000 State Taxes In 1833
Built New Prison For $17,555.75 And Wall For $3,000
Covered $6,000 Presidential Reception Expenses
Federalists Responsible For Extravagance In Reception Costs
Democrats Opposed Unnecessary Militia And Extra Payments