The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-11-18

miserable Aimsy affair throug hout and attracted no
attention in or out Of the House Of 1t
Is highly necessary that this important matter should
be approached in the most cautious The sim
Nest alterat ons will prove effective. The system
need not be touched. Everything required could be
compshed by adding annually to the list OF free articles
until the reduced TO proper standard to
meet the expenditures Of the government The
tariff is no more or less than system Of taxation, and
It is just as absurd for the government to draw large
surplus from the pockets Of the people under tariff
imports would be for the corporation Of the city Of
New York to levy tax that would yield an income Of
Eve million of dollars per than required
to meet the annual expenses is entirely inconsistent
with the character and spirit of institutions that
such system OF finances should exist and 1t Rs bee
carried far that time should be lost In providing
proper remedy.
The first movement made should be in relation to the
present surplus. The twenty eight million Of dollars
must be returned to the from which II was de-
rived and then the necessary taken prevent
another accumulation We know OF immediate
method of getting rid of the plethora in the public
treasury than by purchasing government securities at
the market price. II is certainly most feasible, and
would afford relief to the and
to every important interest Of the country The
ment of Great Britain has broker continually engaged
in purchasing the public debt He enters the market ct
any Time and purchases to the extent of available funds
government account. In this way the public
is always active, and public stocks always find pur-
chasers. There is never any combination to put up
prices to the broker for he is just
ready purchase at high prices at low prices when
provided with funds. No in the market knows whe
such purchases will be made but they generally have
favorable effect prices The adaptation of such
system here would do away at with all the Difficult
ties experienced, and be Of immense advantage !,
the whole community. The plan now In operation, de
vised by the present asue Secretary Of the Treasury
only hquidates about average of $4,000 per day
not equal to the daily increase in the surplus
revenue. Tie evil is, therefore, not at al
removed, and it Is of the most vital. import
that either the English system should
be adopted, some new one be invented During the
past year we have exported about forty millions Of spe
Gle, and added to surplus income in the sub
treasury about four more making aggregate Of forty
four million Of specie extracted from the channels OF
1t is true that upwards of thirty millions O.
dollars have been received from California, which, for
tunatey, furnished supplies for large portion OF this
drain This shows q reduction in supply, which, if
continued, must be most seriously felt. We have n,
Of capital and have for years been obliged to
look abroad for the to construct public works
and for the extension Of our internal improvements
generally the government should aid and foster all
local interests, instead of extracting from them
means deveopcment The twenty eight million Of gold
locked the sub treasury would il scattered broad
cast through the land do much towards relieving the
present pressure and materially improve our circulating
medium. If there any financial talent in the Treasury
Department trust will be put in requisition to
reduce at the surplus revenue and give
the people the benefit Of that accumulation in some
d APE.
The annexed statement exhibits the quantity aud value
Of foreign dry goods entered into this port for consump
tion, for warehouse, and also the Withdrawals from
warehouse, during the week ending and including
Thursday Nov. 1eth, 1851
Noytwry1S OF Foreign DRY Coops