The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1847-01-04
The sinews Of War-Resources OF the
Government.


The sinews Of War-Resources OF the
Government.
IL will be perceived by the Congression-
al proceedings of Saturday, that a move
ment has finally been made towards providing
ways and means to carry on the war Several
propositions have been made to raise funds, both
by direct and indirect taxation, by cutting down
the pay of members of Congress, and by divers
methods. calculated to give the government
about as many thousand dollars as it wants mil
lions.
IL has been decided by al most unanimous
vote, not to levy duty upon tea and coffee, ane
this resource of the government is therefore una
valuable. 1t is proposed to levy duty upon
sufficient number of articles, or 10 levy duty
high enough upon our aggregate imPor'auons'
to bring the tariff up TO a revenue Standard
What was considered a revenue standard IN ume
Of peace, is not in time of war, and it is deemed
necessary to raise the average to point that Will
produce revenue large enough to meet the cur
rent expenditures OF the government.
When the Secretary of the Treasury modelled
the present bill, the principal object he had in
view was revenue sufficient to meet the de-
mands upon his department, and it is possible
that the act now in operation would have pro-
vided an income large enough to have met the
ordinary expenses Of the government; but the
times have changed very much since that bill
passed, and the operation of that law has not
proved so far, as favorable as anticipated. The
government is not only in want OF large amount
of money to meet the most pressing demands,
but its resources are not near large enough to
meet its current expenses. The question now 49,
where are the necessary means to come from,
and when is Congress going to adopt such mea-
sures as the emergencies Of the treasury require
1t would not be good policy to make any mate
rial alterations in the tariff merely as war mea-
sure, as it is highly important that there should
be much permanency to that part OF our COM
mercial system as possible. There is no doubt,
however, but that permanent modification OF
the tariff would give the government better
credit, and enable it to raise funds upon more
favorable terms than can be expected under ex-
listing circumstances.
The principle of direct taxation, preached in
Congress, must be abandoned for the present
The period is rapidly approaching when that doc
trine will occupy the minds OF our public men,,
and become very important and valuable fea-
ture in the political creed of one or both of the
two great parties. AS yet, however, the move
ment is premature, and if pushed, will only
tend to embarrass legislation.
1t would, perhaps, be better for Congress to
leave the financial and commercial systems of
the government as they now stand, and strike
out into some new line, adopt some way of rails
ing money independent of those measures now
in existence regulating our public finances and
commerce. Let the tariff remain as it is, and
give it fair trial; let the Independent Treasury
Act remain as it is, specie clause and all; it can
do no good, and, at present, no harm; and pass
some bill to raise money to carry on the war.
1t is impossible to tell what will be the length
of the Mexican war, what will be the amount
of money required to bring it to a close; and so
long as these two important matters remain in
doubt, twill be impossible to fix upon any limit
to our wants. The Secretary of the Treasury
should therefore ha We unlimited authority to raise
means, and that authority should be confined tc
unlimited issue of treasury notes, for, after al
the propositions which have been submitted fol-
furnishing the Government funds, after all the
plans proposed, after all the notifications and
alterations in the tariff recommended, Congress
will be compelled to come down to this single anc
simple method of raising the wind We want 9
large quantity of this paper to spread through the
country, to help the Secretary of the Tr ,asury
out Of his difficulties, and 10 increase the volum,
Of the currency.