Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1823-07-22
CINCINNATUS.
COMMENTS


CINCINNATUS.
COMMENTS.
We find no flaw in the statement Of CinciRndfns,
until he comes 10 The year 1896, for which year he
makes out deficiency only of i 100 000-Now,
says Cincnnaus, shall the Secretary for u small md
temporary deficiency III 1925 and 1896 propose a
"p rmanent and gre1 change in the tariff - Surely
n't-'h"reioie, auoth Cincinnaus, the change of the
tar'h was nOl recommended raise the revenue hut
to pr"piiiair tile Manufacturers. This is the argm-
men'--But upon what misei able stuthe is il built
This whole question turns upbn the character OF
The public debt, before and after 1895 Until Thai
year, the annual appropriation of 100000
more than sufficient Tor the purpose which it is
designed. For ns the Secretary states in urecetl-
ing Report, in the expenditure of the year I822,
and also Of 1928 and 1924, no pant of the annual mp
preparation of lO.O00,O0O, constituting the sinking
fund is comprehended, ercept irid is necessary TO
discharge the interest of The public debit and the
endorsement of the sir per ceL deferred stock" In
consequence Of this, small SUI uluses are cnntinuniy
accunuihlIpg IN the treasury, To the credit OF the
Sinking Fnnd--thus, in 1891 only 5 1851 ,093 90
was paid ot-and so on, growing less and less until
the year loZ3-when II new era communications
Is the era when the reimbursement Of the war debt
| commences I" On the LIST of Jan l825, (says the
same ReporI) and the three succsedivp uerrs The
deh' contracted during the wears 1872, 1873, 1914
| ana 1919, becomes redeemahle az the will Of the
government In 1925, 20 millions would fall
due. In 1926, s %, 1851, 36S-n 1927, more than
10 milIions-(no 10 speak of The B millions which
may he wanting To meet the claims against SpaiILl
la 1925, according TO Mr.. CrIwlord's last Report,
we can get along, well enough for. as have al
ready observed there will lac fund laid up, from the
snrrlmses Of 1928 and ~ amounting Ia more than 81
miIons--yet, even with the assistance ofh,s surplus
| in'd, there is estimated deficit Of about
81 $50 600 for The year 1925
B"' when We come TO 1926, there " lies the rub.
l"e rub indeed exclaims Cincinnatns. Whv, the
Ne"reiary calcul.c there will only he deficiency
OF X4OO.OOO I'VE wish gentlemen, and intelligent
gentlemen loo wond undersia nd lille more uf their
s"iJeci, before they profess write npon it we
publish their pieces, the world may ak us, why
issue such crude prodmciiuns' II suppress them,
why men the liberty al The press Is violated IN obse
q"ions Difference 10 w H. Crawford Such is one
OF the many agreeable " mis- res VIII ch the editors
OF a newspaper are subjected y T. 10 meet this
temporary deficiency of 81 100000 (bv tho bye
ZJOOOO) IN 1925, GRd OF 100 600 IN the Succeeding
| year, that according CincinnatuS MI C. proposes
The alteration in the tariff Indeed does Mr. { shy
! there vii! he deficiency of 500 geo only in 1926 :!
| \" such thiug-Alr G speaks Of" The expenditure"
~ The year 1896 " assuming the current appropyia-
ttonS To he the same ~ the Year l;i23 may I've
| lImairh n $40 451 900, and the receipts ~
| l900O0O0." And IN the very next sentence he
speaks OF he annual expenditures" rs one which
may IN subsequent years he estimated ~ 10 0O0 coo
But what becomes of the public debt failing due (,hr
more than % millions) in l826--and Of the dciir
TOO IN 1927 That heavy balance of public debt
which has raised so mach solicuile, both in Congte
and out oi 1t L.: Cncinna'us, in charity 10 the nnlion
loses sight oi II aogether-not so, the Secretary
whom he assails He rxplicitlv states; that to- pro
vide for the estima d deficit Of the years 1895 and
| 1876 (and he might have added 1929 90 rs well as
tn meet any extraordinary demands upon tile Trensn
| ~, which unforeseen cXgences may require il IS
believed expedienl that The revenue should he ia.
creased. This may he conveniently effected ~
judicous revision Of the tariff, which, while a. VIII
prove The consumer will simplify the
lnbors oi the officers of the revenue -" T. il pre-
snmrd, (says he) that the revenue will continue 10
| e augmented bv The proposed attentions in the ~
r'H "nd The public deh stoH hire besH redeemed az
te, ,ohieh, the public expenditure IN time of peace,
will he diminished 10 The Of the sinking fund
which is, Al preseni, SIC. 0O0 600"
The whole argument Of Cincnnains, then, vanish.
rs iniO =" thin Ii." Instead OF the deficit being
small temporary, coniec'urdi, il will in three years
amonnt TO % millions--instead of henq confined 10
one ge1r, II may last until the 10 100000 NAV b"
sutt eni 20 the proportion of public dpbI which
lals on The year. Instead OF being conjscfurdi it
as certain as the debt itself.
Men may diff, in he sure, to the time of dis
charging this debt Some ma, recommend the re-.
borrowing Of neaTly the whole snm--and fhus cnnsi-
'ptnhy ptOtractng fhe extinction Of the public debt,
which so many persons have much Al heart
Among these, seems TO he Alr Ciawlord himself
ana YET even he IS tar from proposing such rug
nirniajion of The revenue, (lpyIng on such heavy
burdens ~ The already Impressed agrirulturist'0
asio pay of the insialnient Of debit falling on each
gear All thai lie proposes Is 10 raise the revenue
higher 10 discharge the debt IN Ibis view oi
ihe subject the angme ntatun Of revenue will not hc
e" fenporary rs CnCmnaius represents but may DC
necessary Tor seveIal years.
The Sd reason, assigned Ivy Cincinnaius, surpassp,
nur comrreh eus'oel,u confess tia, there seems
~ nc moro tlan 5000 uOD OF previons uunuplip,
appropriations Of ihr sinking fund" which 81 e.
has properly thrown tho rus and mems Of 1925
Not tborged on the year 1"25, but properly pat TO
tie credit Of that year.
Ciucinuatus cam Then, he no longer At n loss Tor
Mr. Cs falling 10 make such proposition IN 1919
20, 6Vr.--and NOW making IN 1898. For previous
years, The deficit sniall 10 demand no vcry
extraordinary exertions. The uesiion however, i
different, when o. millions niay 90 10 The payment 81
the deb rs quickly oHr means would PEI mii--and
hence proposes lay on new duties in time for the
proceeds to he coming ihiO the Treasury meet tie
| occasion.
W. do moi mean in This hasjy sketch IN subscribe
10 al the Secretary's estimates his grojdS I've
paSs no absolute opinion rrnr either. We do moi
"sl ~ say grace over The whole hare of hcrrines
~ once. But we sag, that with such views NJ
&. takes of our debts, aud Of our WAYS aud means
and with ~ excua1ble anxiety 10 eSGnguish iit
publ debt, fast the taxes, without being tur
onerouS 10 the consumer" might iustify. there u
: s'me lutte want Of charity ~ charging bis PROPOSE
. lion 10 double dealing and durlciiy.
The Editors Of the \ lnieiligencrr, however, ew
nothing of the 6efrH--hry consider II ~ intended Il
atd the manniacturers--and 0reol, says Shakspcar
e wns 50 meant bY the Secretary. Indeed But ~,
dispute hoh the f0rt aud the ijfrsHce--The lntelli
gencer does twice nOiica in It's article Inc esfnat
ed deficit IN TGLJ.-lt moreover speaks Of his " re
vision OF tic ariii, which is proposed with ysto
yerenUc. 70 adds expressly, alier deprecaUng SIS
a ten ot nigh duties system of bOunnes ihaf g
rfry nell can he made beier-that is If duties lai
Nth rec Ia will the same time benefit Ger
D inin manuacnTe we shah rejoice n IT, IT. is wf
pleasures an his riew of the natter that hear iha