The examiner. [volume] (Louisville, Ky.) 1847-1849, 1848-02-12

o,r government is in want Of money.
r.. time of need is already arrived; the
'.as,;on what provision is to be made for it
80 Of the most urgent of the day, yet it is
-, discussed either in the journals or else
,Lsr. The pay Of the troops we have re-
cmitsd. the cost OF the munitions OF war,
snd Of provisions transported for their use
= Ns,ico. the increased expenses of our
81 aupaments, and those of our civil gov
.-o,,snt which a state of wal has called
;n,o extraordinary activity, are demands up
ON tbe ueasury which are not TO be set aside
ar neglected while We are quarelling about
,be occasion of the wal, or the policy which
the government ought 10 pursue in regard TO
il.
Here is the public faith pledged, and it
mus, De redeemed; here are debts legiti-
ms,sly contracted, the amount OF which
grows while We are looking at them, and
thew must be paid. The nation will have
no excuse Tor the plea OF an empty treasury,
and tsrdy payments. while its commerce is
prosperous beyond all experience, its manu-
factories in full activity and bringing in
princely profits, its granarieS stored with AN
abundant harvest for which the markets are
waiting. and the country, in every respect,
richer IN resources and in the objects which
form the wealth of a community, than II
ever was before.
This last consideration, the prosperity OF
the country. suggests the duty OF those who
are 10 decide upon the ways and means Of
supplying the government with money. No
iust administration of the government will
postpone TO the future burden which can be
borne now. The future must have It's own
exigencies and wants, far more urgent than
the present ones, and il 10 wise as well as
honest 10 leave the resources of the next
generation as LILLE impaired and exhausted
as possible.
These maxinls have been adopted by the
democrats OF New York in their Stale pol.
lev. We regard it here as political wrong,
TO lay upon the next generation the obliga-
ton of paving whatever debts We may take
a fancy TO contract, and so distrustful have
we shown ourselves Of the discretion OF our
Legislature, in this respect, that We have lied
up their hands by the new constitution from
mortgaging resources which properly belong
to pOsieriIy. The doctrine, however, is by
no means peculiar to the democrats OF this
State, it has long been insisted upon by the
teachers Of democracy in this country from
Jefferson to the present day.
We may fairly expect therefore, that
whoever rises ia Congress to propose any
addition to the public debt, any use of the
public credit to obtain money for the public
wants, will accompany it with plan for
immediate or ear y repayment. The hon
est, straightforward, democratic policy OF
accompanying proposition to make debt
with the proposal Of q tax TO pay il, is what
We have nght to expect from a democrat
ic member. But what sort Of tax would he
propose
A direct tax without doubt, the faiTest
kind Of taXation-the most equal mode Of
raising money, since its principal burden
falls upon those who are most able to bear
lt-snd the most honest mode, since it in.
ioms the people TO what extent they are
taxed. There never was a better opportu
miy Of resoning to method Of obtaining
money for the Use Of government, which SC
many wise men have commended, as the
most equitable and Just. The country wal
never in better situation to bear dirsc
tax; the money is wanted, and the resour
ces oil indirect taxation are either exhausted
or unpopular. If We increase the duties OF
imported goods, if we put an additional ia,
on the manufactures Of Europe, We shall b
sure to lessen the revenue derived from tn,
customs. We have obtained a larger in
come by diminishing these duties, and if W,
go back to the high duties we go back II
small receipts. The proposal to lay dut
on the principal articles now importe'
without tax, namely, on tea and coffee, j
so little acceptable, though it be the mos
reasonable of all indirect taxes, that W
lear twill not be laid; it failed OF success
with the last Congress, and it has a mucI
worse chance with the present The onl
alternative, 1t appears TO us, is direct taxa
uoll, and the occasion seems offered express:
ly Tor It's introduction.
II direct taxation was once introduce
under such favorable auspices, Ia migh, sol
apermanent footing in the country, and b,
come al length the established mode Of raj
ing money to carry on the government
nj all events ii would remain, for awhil,
SIDE by SIDE with indirect taxation. whel
The people could compare the respecti,
merits Of the two modes, and choose TIL
Which should appear to be best for the con
munlly, best suited to our institutions, ar
most worthy to be adopted by a poop
winch administers its own affairs by ste,
ards whom il elects and instrucis, and viii,
should therefore know when it parts wi
ito money.
FOR the immediate necessities of the GO
eminent, while preparations were maxim
to collect the tax laid, an authority mig
De granted TO issue treasury notes. The c
Pedent Of a loan we hope will not be
sorted to. A losn is device to obtain
long credit. When a government foun
soebt' 1t most generally makes il debt to
PsId BY posterity; it stacks up its pccunis
oOllgallons into a structure built to last, a
Pus them among the institutions Of {
country, like the national debt OF Cir
nil'ain, which is likely to endure lonl
uan Its church establishment.
treasury note is the expedlent OF
oay' 1t cOntemplates an early re-payme
VI an early absorption Of the note into
revenue anl :. l....l'. Il