The New York herald., 1846-03-06
alo, ,oss, ,sss e,al1.ss7 s,1ses

The surplus revenue has decreased q small amour
since the ls Of December, but within the past mont
there has been increase Of about three hundred ho
sand dollars. This surplus will, without doubt. bs
duced large per cent before the close Of the prsss
year, even under the ordinary expenditures Of the
vsrnmsnt but in the event Of large spproprisHisus
ing made for the purpose Of preparing for any emerge
cy growing out Of the present position Of our forsg
affairs, the surplus win dwindls down to . very sma
sum. This 10 oonsummation dsvoutly to be wished
for many good and wsghty In the arst plao
expenditures for Notifications are, at this me, very
cesssry and il the second place. II important that u
surplus revenue should be reduced before the subtrs
sury plan goes into operation. On tho other hand III
only argument in favor Of preserving the present surp
economically possible H. that II may be wanted
furnish funds for the expenditures of the govsEnns
during the early operation Of the tariff act. II
possible, but hardly probable, that the fro
customs may in the early operation Of the tariff b
limited than aer II gets better established, AM
sufficient time has elapsed to get oil the wheels sgain
motion under the new system.
II must be admitsd that the modification Of the tar
upon tho ad uslore principle and upon strict rsvsnu
standard in connection with the sub btressury,
great experiments experiment. too, touching the mos
vital interests OF tho country and affecting th(
most important department Of the gov ernment-itl
nnances; Dut thoy are experiment. Dased upon sucI
unquestonsble data, that the chances Of faurd
are very slight. The establishment Of the Subj
Treasury bill will have moro influence upon thl
opera Jon Of the tariff than any thing else. What
revenue reduced tariff may produce, under thd
existing volume and value Of The currency must bt
remembered that under restricted currency the impor
tations restricted and the revenue correspondng
reduced We hardly reconcile these two me ssurss
A. ii appears evident that the importatons must bel
larger under low arin. to produce certain ausuntl
Of revenue than undsra high tariff The greater ths
value of our currency the able Manufactured
ara "a compete With those Of Europe. II bring ourl
eurrencv up to specie standard becomes - valusbls
AZ any in the world and places upon level with sny
country in the productions Of the soil the loom.
can manufacture cheaply ss homo We can import
from abroad the domestic article, equally good mol
nopolizes the demand shuts out the foreign article and
prevents the from realizing that revenue M
would otherwise receive The operation Of the Sub
Treasury Is likely to produce these results; and be-
comes matter Of much interest and importance how
these two sctsthe Sub Treasury and q revenue tariff
will work together. What would be revenue tari6
under paper currency would not be under specie
currency The present condition Of the several banking
systems Of each State requires the rsestsbhsnt Of
the Sub Treasury in its most restrictive FORM and the
revolutions made from time to time In the commercial
systems Of the commercial nations Of the old wsrld rs
asrs auilsr revolutions In our oonassekl. .sypssn,