The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1846-12-04

The Administration The War-Th0 OOun-
try-Its Wa"ts and It's Prospects.
There appears to be great diversity of opinion
in reference to the future policy Of the admnstra-
ton That the country is involved in difficulties,
to greater or less extent, is not to be denied.
With all the elements of wealth in our possession
surprising that of any other country in exis-
tence-it is MT to be denied that the expendi-
TIRES of the govern ent is far beyond its income;
that our difficulties with Mexico are a great and
heavy drain upon the industry of the country,
which, taken in connection with the new system
of collecting duties, the specie clause of the SUBJ
treasury, and the warehouse bill, the govern.
ment, and through it, the country itself, is likely
to be more or less crippled in its financial opera
tons.
Let us look into this matter for moment.
Among the great measures of the last Congress
and they were all in the main good-the ware
house bill is likely to have a more immediate Of
feet in checking supplies to the government than
any one act passed. Heretofore the merchant
paid nearly the whole amount Of duties upon his
invoice at once, thus filing the Golfers of the
government, while the goods on which the
duties were paid, remained unsold in his
store. Under the warehouse bill these good.
will remain in possession of the government,
to be taken out Of warehouse only as want
ed, one or Two cases at a. time; thus paying
to the Government in drblets, and Mt long inter.
walls, what before would haye been paid at once
and in a lump. In the coufse of say six or eight
months, this will make no differenSe in the re-
oeipts a, the custom house, but, previous to that
time, the receipts will be small, and the Govern
ment, consequently, the sufferer.
What rhep ia the ,1oveyuu1euf IN Ia
We have it from the most undoubtsd authority
that it will allow no modification of the tariff,
except, perhaps, in coal and iron, believing the
present one will bring in more, when all the
machinery is in full operation, than the old ones
Tea and coffee may, possibly, be taxed. 1t will
allow no modification Of the sub treasury bill,
not even a suspension of tho specie clause, dur
ing the existence of the war
The most vigorous prosec ton of the war will
be accommodates much reater force employ.
ed, involving enormous exl endtures, to be raised
somehow. How is the question. II lie evident
from the course pursued by some OF the lead
inc wings, and a portion of the wing press,
that that party will endeavor TO strength.
en- themselves by throwing every obstacle
possible in the way of the administration. -
They will endeavor to involve il in great ex-
penses, and lend no aid TO relieve it. Treasury
notes will not answer TO any greater extent than
already issued. A large loan, therefore, of twenty
millions Of dollars, more, appears to be the only
reasonable mode to e,funds, unless, indeed, a
resort 10 had to direct taxation. The well known
patriotism of the people might induce them TO
take the one or submit TO the other-but in either
case it must be at the expense of other and more
local objects. II the loan il TO be taken, funds
must be withdrawn, more or less, from the legiti-
mate business Of the country. ough the
banks may not subscribe, the money will come
from their vaults, which of course will check their
loans and discounts. That the war is TO continue
for length OF time yet, there is no doubt No
propositions Of any kind have been made by the
Mexican governments and the tone Of defiance
assumed by the Mexicans, and their press, forbids
all hope OF reconciliation, until our largo and
conquering forces are marched to the capital il.
SELF and the entire country taken possession of and
held. That this will be done, there seems now
to be no doubt. That this is the determination OF
the administration we feel authorised to assert
that i, will involve great los. of blood and trea.
sure is equally true; but that it will be consum.
mated IS also true as fate itself.
We cannot Immediately expect, under these
circumstances, a full how of prosperity. Our
merchants and business men must not make toe
great aud sanguine Calculations upon q large ans
profitable trade. They must move cautiously
step by step, and be fully prepared fog ssy It'll,