Rutland herald. [volume] (Rutland, Vt.) 1823-1847, 1837-07-18

might have been cleFfcd BY cuntcnding that ihe
dog gave hm the money. which beng ucN point
Of law, he honor would have been undct tic be
eessi,y OF ruling iha, IN future shall no, be law
fol to receive money from any dog or dogs.' Bot
asst vac. he sas cons loicd-N j. Time.
TIE Prospeei b,fore ~. There seems TO he a
general opinion tina, Congress, when Il shhil meet
~ September viii Immediately do suInt hing to
. relieve the present commercial embarrassment 81
the cuuairy. We have 10 doub, that msJunly
I Of that body will feel disposition To provide Ihe
means Of rehef-,akins 1t for granted that msI"H-
~ Of ibe members are satisfied that emoarats-
nents exlsi which call Tor the interference Of The
government - but whether various opinions PieJh-
dircs, and conflicting interests be conoen,raicd
on any enc measure, to such degree as 10 ensure
success We think 1t somewhat doubtful. frobab.
ly,huwcser,a majority The political doctors viii u
niie 10 The opinion that there Is disease which calls
fora remedy. Several remedies will doubtless be
prs pOeeG. The danger Is, that each Will haze too
many advocates, too tenacious ~ regard 10 tier
. own nosirums, to adnht of majority in favor o.
any reasonable project tor the relief Of the patient
writer IN the New York American puts forth
the opinion
That our National Legislature in assembling at
Washington IN September, Will find itself under The
necessity Of making choice between adopting very
efficient end sIeedy remedies for the commercial
difficulties Of the country. or Iucutrrg national
debt of at least Thirty forty millions Of dollars
and perhaps even much larger sum
The writer offers the following reasons in detail
as the basis of his opinion -
The expenses ofthe government, from the PEE
sent time up to the lst Of January, 1880, on the
scale Of appropriations Tor 1896 and 1897, cannot
fall shurt If AZ OO0 O0O M n.a IL, M,
improbably, all of that vast cum will have to be
raised BY loans, unless such measures are a, once
adopted as 10 restore the commerce o. the country
to lis accustomed prosperity. That the receipts
Of the National Treasury are TO be almost wholly
intercepted, by Continuance Of the present policy
Of The administration, has already become apparent
No revenue Of any consideration can, under any
circumstances. be derived from imports for slX 10
eight months to come through any period
hereafter until the causes Of the present eabar- /
rassmen, ore removed. The total humiliation Of I
credit, both here and abroad, and the probability OF
losses goods, from the low prices here and the I
high rates oiexchange render it certain tina, i'm
poriaiions mus, be reduced TO so low poin, as to
be Of little significance to The Treasury. The es- +
innate ofan during the next eighteen months /
OF ~ ,UDO. 600 on imports, over the amount Of {
drawback that 10 likely to arise fro the exports OF
goods abroad, is probably sufficiently liberal and
an income Of 81 100000 more from the public .
lands The deficiency that will probably exist .
in The Pos, Office Department is all that can be .
looked for from that quarter 9etwixt this nd The
close of 1888, then, not far from 40 600 900 will
be to be provided for by the use OF public credit
aud the creation accordingly, TO that ex,eM, Of
National Debt :
This estimate may be deemed exiravsgau', but
it is, in my judgment, quite likely 10 prove too
small. too large as have left ont Of all con-
sideraiion Of the interest which will be TO 3e added
TO The amount of expenditures, well as the far
more formidable amount of discount 10 which tie
Treasury will probably be subjected, in the nego.
citation of its notes or stock items which may
hereafter take occasion TO show, will not improbab-
y swell to OF least fourth Of the sum required
TO be raised SO that If tue appropriations amount
10 s32 900, 900, they will cost the Government,
$40 600 600; and tina, i $40 900 600 are 10 be
expended, they will carry the debt to $4,000
600.
So much for the prospects Of 1897 and 1893
But what is tue probability, in respect 10 the next
and succeeding yeas answers proportional
annual accumulation Of debt, even under the most
favorable circumstances that be anticipated
possibly, its far more rapid augmentation Ilbe
present policy OF ihc Administration ia continued
The evil consequences. ia place Of being miil.aied
VIII Increase. Foreign commerce viii be kept at
very low ebb; and the currency continue 50 de-
ranged, as equally TO deptess agriculture and man
uiactures aud, what IL ui scarcely less moment
IN this estimate, the credit Of the Government will
Continue stall more rapidly TO sink and The cost 10
II Of nrgoclating, TO increase. Such must be the
course Of events, should peace continue but in
case Of war. the condition Of the Treasury would
be UNNECESSARILY worse. Into shat en- abyss Of
debt would fluge years quarrel with even gu in.
seriOr European power, rink The country, after
struggling 10 exhaustion with IT'S present doInes-
tic difficulties Let the present policy prevail aud
the year 1889 be one OF fJreign war, aud venture
To predict, that the dawn Of 1910 will End the ma
ilnn eos1fed ~ public debt OF not lees than
$3.50 900 600.
pleasant prospect, truly Ye, we arc by no
means certain that The creation Of public debt to
a reGson1bh amount. would not be the best stone.
uebi that the administration could make for the
fault Of It's predecessor, The country can never
prosper without high tarIG imports aud il
mstieTs little as TO the practical beheii whether
Tie proceeds Of sloL tariff are wanted TO pay q
usail a1 ,f..f