Staunton spectator, and general advertiser. [volume] (Staunton, Va.) 183?-1849, 1847-02-04
HOW SHALL THE MONEY BE RAISED,

lfthe suggestions of the .Union," were ever an
indication OF the policy to be pursued by the Ad-
mlnistraton, we should think sensible course.
was at last to be adopted, for we see by the organ
that There Is at last doubt expressed. whether
there is not some trouble in the finances The or
gan OF Friday night says very truly that
The one great practical question Of the present
crisis Is, 'Uh0t legislation by Congress, acU best
sustain the credit Of the country IN The money mar,
ket?"
1t says few words will make this clear. in
which opinion all will join. for this new ground ia
Ken by the Union, has been held by the mass OF
The people, and capitalists, for long time. The
Union says further, that to raise the money
AS fast as it will he needed, by a,ty taxation, ia
wholly out OF the question. II must be got by
loan; and 1t can SO be got at once. and ON easy
terms, If Congress will legislate as 10 put and
keep the government in good credit"
The ~ mon" and its advisers appear at last to
nave discovered, that though they have preached
free trade. and have attempted to show that the re-
venue VIII be increased by it, and capitalists be more
certain of repayment of loans, the capitalists do
not feel convinced, and demand change on the
part OF the Administration. This change, is now
thought proper by the organ, and have a long
attempt, to break the matter gently to its party
whose ears have go very lately been tickled by the
praises OF the new tariff that was To be SO pro-
dnctive Of revenue. The subject once preached
the organ goes on TO advocate high tariff, with as
much facility as it before has condemned it, and
gives Us an apology, The existence of war a rea-
son that Is contemplate enough when we recollect
That this war was upon the hands OF the Governments
at the time the old tariff, that gave confidence to ca
palists, was abolished and tie now one that cres
ted disrust was adopted.
lhe ~ Inion' abandons the idea of direct war
taxes until the articles included in the present tariff
are made to pay the heaviest duty they will bear
and throws damper upon the hopes Of those who
expected TO see lower duties, and eventually no
n-f Ill a I -
the theories that have been put forth in favor Of d.
rect taxation, by saying tina,
ne collection at the cuSfomho1tSc Of all fdres
had by the general eOUernnent is so sceil establish
cd an The usage Of the country and in the popular
sentiment. ard Is in itself and ,cithin due bends
so Convenient and nofeIsipe form of taxation; as
10 make AZ desirable that additional war taXes,
even upon luxurles, should be collected exclusively
in that way"
The "Union" then scouts the idea of raising war
money from tax on Injuries, and advocates an al
teaton OF the tariff of 1886 to meet the great de-
mand Tor money and after noticing the call of the
Senate upon the Secretary Of the Treasury for in
formation, concludes By saying =
we doubt not that these inquiries will be prompt-
iy answered. and we trust that iudicious legislation
upon the subject will be had with the least possible
delay. Not moment OF time should be lost"
III Is very true that time should be lost and il
IS equally true that '.judicious" legislation must be
mad, and that, if we understand it, is complete re-
'rograde movement on the part of the Government,
and return to the old method of naraeino the f.
nances. The Government to do this must repeal
the CUB rcasury and take the usual kind of mo-
pey, and more than this, must have 4 revenue sys-
tenn IN which capitalists have confidence. and one
that shall be permanent enough to secure the repay
ment OF the money it may borrow. The present il
no time Tor making experiments in raising. or keep
ing money, for all the ability of the present fnan
clal officers is inadequate 10 keep the Treasury in
nnD atf,,,.. 4 -,
1Pelallon' under the old and well tried plan The
Government mnst retrace its steps. and the sooner
the better.-.Nep York Morning Enpres,.