The daily union. [volume] (Washington [D.C.]) 1845-1857, 1848-11-04
CITY OF WASHINGTON.
usATURDAY MOANING, NOV. 4, Is4s.


usATURDAY MORNING, NOV. 4, Is4s.
Another Trssn Of The new York Trib.D.-It. n,.rsp
examinations exPosed-No Loans wanted.
We extract from the Baltimore Sun" of yesterday thu
following correspondence;
WASHINGTON, Nov. q 1913.
A correspondent OF the New York Tribune writing
from this place, says, among other things Durng the
three months OF the session. Congress must provide the
means paying Oft balance at least SZ7 100000
loan is the only loan of S30,00O,OoO. have
heard whispered that Mr. Walker has admitted The
lutte necessity of very large loan. 1t has become fixed
fact fnancieng cannot get round it and the prospect
is a dismal have noticed the that he is apx
iou escape the deluge, and begins already long
ing chances toward Mississippi, which he looks upon his
only political Ararat believe Mr.. Walker is TOO bold
to attempt such retreat; but have heard the ru
NOR"
This spon.ent will us for saying that we dc
believe he heard any such rumo but the matte
is simply one of his own vain and fimsy imaginngs Il,
what does he to nsinuare that the presen
Secretary Of the Treasury would escape deuge he looks
fort Will he resign his office and 10 Mississippi This
we know will no, be the Mr.. Walker will remain al
his he should do, until the close of the adminsa
ton.
After the 4h Of March next under no contingency tina
may now be expected wond ne remain office nvolv-
ing in the discharge OF its duties of arduous labor
weighy responsibility and seepless care than any other
connected with the government He has remained up
10
In the practice of his profession he could any time
ceive thrice the o. his saay Secretary the
Treasury As Secretary, however, he has built
and fame as public man and statesmen, unequaled
may say, by that Of any OF his predecessors
He is of that class Of who shrink from
responsibility The correspondent calls him truly "a bold
man." But we do not believe moreover, that Mr. Walker
has ever 'admed the absolute necessity of very large
Loan We do not think that at present he contem-
plates any such necessity Just present he is hard
work, with his characteristic industry and zeal in
the preparation OF his report !or Congress When shall
have been completed and presented for consideration il
may BIO time enough to look after the necessity for yerv
large loans"
Now the evident object of the letter in the Tribune
toproduce the impression, the of the eeetron thai
the treasury needs immediate loan of thirty millions
OF dollars, and that Mr. Walker as a conseq uence re-
treats at once in ALARM from the Treasury Department
IT, during war; and when loans actually were required
TO the amount of $i9,oOOOOO. and when The wing party
declared they could not be obtained or if So only at
ruinous discount Mr.. Walker would not desert his post
We hardly presume he will do now when the ,car en-
pendures have ceased and when the expenses of the
government may be reduced oneh half The idea of Mr.
Walker desiring loan in time of peace and when
nearly half the loan of 1s4s is yet to be received
and especially when the net revenue for duties for
the first quarter of the fiscal year Gas published officially
exceeds nine millions of dollars, being at the rate of up
wards of hiry-sx millions OF dollars year from customs
alone, would to be most. preposterous Even
Daniel Webster in his speech recently published admits
that Mr. Walkers estimate of the revenue this year will
be realized There is but one event in which loan
may be anticipated. A loan in one contingency nigh,
possibly be wanted-namely, by restoring the old anti
revenue tariff Of 1912. which, as shown by the rec
ords OF the treasury, produced six millions of dol
OeP than he x~r, n ,
We're is Of the be decided in the election
Will the people restore the tariff of 1912, with its barba
rous protective minimum and specific Duties so as to
duce the revenue six millions of dollars per annum, and
thus compel resort to loans direct taxes 10 make IN
the deficiency, which annual deficiency might be in.
creased to nine millions of dollars if they viii also
take the land fund for distribution With reye-
nue. such a. the tariff is now bringing there need
be no more loans; but if there were, Mr. Walker
would notleave his post until the 4h of March AT that
dae-as declared to ourselves and others more than a
year SINCE, and well known his friends generay-he
Will retire IN any event. and practise law exclusively in
the Supreme Court of the United States in this CITY, He
had IN 1914 as the docket shows the most lucrative
practice in that court which he abandoned of course
when he went into the treasury. but which he will re-.
sumo after the 4th OF March next Nor has he any idea
as stated by the Tnbunes correspondent of returning
to Mississippi TO reenter political life Strong as is
his affection to the generous and enlightened people Of
that State, and grateful he is for all the high honors
she has bestowed upon him. stern necessity and high
duty to his family require that he should a, he will and
as resident OF this city, resume his practice in the Su
Preme Court Of the United Staes-levotng all his ener
ges and attention exclusively TO that practice.
With one more remark, as connected with the tonic
which drew us into this article and we leave il for the
present Let THE tariff Of 4o be permitted to have il. IN.
Grafton Let the abundant revenues which will pro-
duce be used for the legitimate purposes of the
ment, and we shall not only have enough to NEE,
its expenses without the necessity of making new
loan, but there will be enough by economical man.
agemsnt, by wise retrenchment of its expenses. Nv
avoiding all unnecessary objects of expenditure to nav
up the loans which have been made, and to exnun~e
rapidly the public debt We need not saw that mi. !.
favone object Of the administration as it is of the demo-
cratic party.