The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-11-06
PRICE TWO CENTS.


lFrom the London hmes OF I4I
or all the pacifcators whoa the present war'ks
crisis haS called into action, the Difficulty of finding
money Is undoubtedly the most potent The Ches.
celor OF the Excheq equer is. as Mr. Gladstone truly
observes er ofc,0 man OF peace. The difficulty q
appalling % ss it is at ali times, doubIy appalling to
fiDancal minister. That which cuts of the wsys
and means, while 1t enormously increases the expea-
0ture-whicb dams up the sources OF taxation at the
very moment when it is draining them dry-thas
which can convert surplus into deficit, and DO
felt into bankruptcy legitimate object of6nan-
cial adherence Austria cannot keep tho excess OF
expenditure over income within the m0nstr0us amoun9
Of fifty millions Of orins. In France, imperial emni-
p0tence cannot c0erce the budget within reas0nAbo
dimensions; and even we show too much pride q enc
surplus for persons who regard ss durable and Per
maBent possession. But there is one man IN to
world, and that man finance minister, Who U
troubled With none Of these difHcalties-nay, u
just now suffering unoer difficulties OF precaoV
contrary character. The American Secretary OF t1e
Treasury Mr. Guthrie is prosecuted by an obstinate
surplus which clings to him like the Old Man OF tho
Sea To che neck Of Sinbad and il perpesuay cinan-
ing appropriation where no means exist OF dev0tng
to the public service the superabundant riches Of tho
revenue. This comes OF double system OF taxation
Of central government, confined 70 certain enuine-
rated functions which it cannot exceed, aud local
government, for bdden to raise o revenue by means
Of Custom Houses on the frontier. The authors
of the American constitution, when they considered
end oiinuteiy defined what should and whs; should
not be left to the central authority, never droanS
Of the difficulty which the rapid increase OF cspita
would Introduce in adapting tho revenue TO the
wants OF the State. IL never occurred to them th.s
the central government would be too rich. aud that
one OF the most embarrassing problems for future
statesmen would be how to cut down its resources t.
the required amount. Had it be. any other knd At
taxation tn an that levied through the Custom House
on which the entral government to slbsst, tho
matter would have been comparatively easy; bus
the difficulty lies III the peculiar nature Of revenue
from customs 1t is because that revenue has
tsolold operation. protective as well as fnaa-
cial, that the difficulty has arisen. Nobody Is fond
Of paying taxes for their own sake; and tn
resources Of the federal government would long ago
have been cut down to level within its expenditure
If the question had not been enbroiled by the fact
that large classes of American citizens claim ON in
terst in the imposition OF taxes which the State no
longer wishes TO receive, or the people to pay. In
oihsr words, the question OF protection persedes
that Of the duty Of the government To its SUBJECTS,
ord requires that more revenue than is wanted shou4
he raised, in order that one part OF the community
may levy tax on the other.
The advent Of free trade doctrines into America,
has diminished this apparent difficulty, and the
people are beginning to learn that raising
vitd showing particular favor to any branch OF
Industry. II does not appear from the tone of the
American papers, that hey have yet acquired very
clear or accurate notions OF the true limits or extens
of the doctrines of free trade. One OF them pro-
tests with much earnestr ess against what he oalis
10 language more expressive than accurate, -
the enormous evils which fall upon country whose
imports continually exceed its exports. Still, how
ever If the theory be not very accurate, the concu
sions deduced are tclerably, sound: The dread OF
English competition is much aleviated by the in
creased cost OF production, resulting from the e.
fects Of emigration to Australia, and confidence u
felt and that with great ustice-in the rapid fa-
crease Of capital and the advance which has taken
place OF late years in the management and appoa-
ticn OF machinery. Moved by these considerations,
the great majority of the American people Is Pre-.
pared to second the efforts OF Mr. Guthrie and to d.
vest him Of that supeIfuous wealth which he finds -
| grieyOus burden.
| This Is indeed q singular spectacle great ma
tcn Voluntarily relinqus hing its revenues because k
has more than 1t knows how 10 spend, aud seeking
20 pay OF tier Debt on terms extremely beneficial
20 The holders OF stock, ia order to be rid Of some
portion Of the treasure which poured into its lap
against its WILL We heartily wish Mr.. Guthrie suo-
in his Undertaking. As corccmitant TO his FREQ
trade principles he is about to bsttufe system Of
a specific for al colo,sw duties. The frauds thas
have been barefaced and innumerable, and we doubt
not that tie revenue will be considerable, perhaps
Al inconvenielt gainer,. by thus transferring tho
power Of taxation from those no pay to those who
reeeiyo tie tax. Altogether the prospects Of the
| change are extremely gratifying. especially as
IL can. il would seem, be effected without
displeasing any political party or making the repeal
Of the present duties portion of the spital Of any
class OF politicians. 1t is fortunate that the change
comes in the shape Of an imperious necessity; and
that in oIder 10 continue the present system the
| American prOtectiOnst wond have to require that
taxes utterly surerfiuous and in no degree whatever
needed for the welfare Of the State should be raised
merely to enhance the gains Of one poytion Of the
community.
1t is refreshing to turn from tae contemplation Of
the worn out and eete desp0tsms Of the old world.
| where the revenues of the State are Absorbed
by prodtless standing armies, ard squandered in
the maintenance OF police employed to suppress
thought and of spies organized to detect it,
where the annual deficit threatens to absorb In
| its ponderous jaws all, and more tlan all, which
can be wrung from the exhausted peasantry
to this Lew and vigorous country, actually bowed
down by the weight of its own prosperity, and EN-.
baIIassed in selecting those burdeus which 1t is ac
| tually compelled by The force Of circumstances to
remit. With us, when little surplus gives US the
opportunity of remission, there are always so many
nJsstces to remedy, 20 many grievances to redress.
that the difficulty OF selection is extreme, aud every
remission gives almost as much pain as pleasure, by
the disappointment it inflicts on the advocates Of
other remissions. In the United States the difficulty
seems not to choose which Of number Of pressing
cases i the most urgent, but to find any pressing
case at all. We congratulate Transatlantic bre-
tbren the exuberance OF their resources, and sim
cesely hope that this difficulty Of finding tax to
remit may be the only one which their Chancellor Of
| the Exchequer will ever have to encounter.
4