The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-12-26

VOOVOO 70 the p0Dnc oepts o0t y tnu perloQs WI
the government had anticipated speedy teruaina.r
ton 70 the war, the power Of France was increased
to such an extent - TO render our dificutttes
greater than ever. England stood forth alone IN
her, until the allied arm les could BE- brought TO her
aid. It war at this critical period that Mr.. Pitt OK
hibited degree Of patriotism and statcsmaAsnlp
that can never Be dissoclated from that memorable
with wasteful expenditure Of the public mosey.
But NO man set higher value than he did upon the
credit and honor Of his country. Nevertheless he
saw clearly that was impossible TO contend against
tire financial resources Of the nation at to bear
against him: and without adopting such course,
In vain would our armies have contended agdnse
the ssGns Of ws admit that
to instruct us IN finance - wen e. our Wellingtoas
and Nelson's to point out the path by which cur
arrioys have gained imperishable renown.
THE WAR EXPENDITURES.
From the London Economist
Parliament is to meet on Tuesday, the 18th inst.
The determination on the part of the government
that every available man should be sent to the CD
b. led 70 the to relieve some q Sur
upon foreign service. The regular troops ct Gbral.
tar Malta, and other places, might thus DO rendered
available for service in the East, while their places
for such service, Of which there are abundance
ready for all the requirements which can be made.
Il appears however that the old law which enabled
the government to accept such services expired
with the last war. There was, therefore, tho legal
difficulty that the militia could not b used for foreign
service. II IL true it was quite competent for nen
In the militia to volunteer into tho limo, but the m
remedy this defect, Parliament has boon summoned;
and to this matter, and Of course the discussions n
connection With the waz, which viii naturally dow
from II, we believe tho business Of this sitting WI
iieved, that some great demand for money Va +
tended to be made-either In tho shape Of . loan,
an increased incometax, or general increase q
indirect taxes. We believe there u No truth what
financial character win be made before tie orli-
nary time after the reassenbling In FebTuaxy-aet.
however, that any means win b. NEGLECTED wAidi
any amoupt OF money ce.i1 possibly secure in order
vision already madeby Parliament win prove amply
suflcent until the usual time Of the meeting e
Parliament 1t win b remembered that PaTliar
ment passed acs IN the last session which provided
year, independent Of surplus which has bees
rendered available Tor current expenditure f about
100000. And in addition 70 these permaneae
and ever-rscurring resources, Parliament enabled
capital, by way Of anticipation Of the period whsS
the new taxes would become fully productive, b.
Exchequer bonds andl bills to the amount e
f6,000,O0O. It viii then be borne In mind that sup
at the close of the session, were computed to sev
the probable expenditure The navy vote for tho
example, was up Yards off 900 900, inClud
va. from lie stS Of April and Of course indsnpsa
emit OF all the cost in the spring. prior TO that date
Then, again. over and above ali this, the govern
ment took vote Of credit for the war to the exteat
whatever in connection with IL, and Of course to be
accounted for to Parliament hereafter. Il would
,hus appear that very large provision was made be-
Of the ample state Il the finances is to BE- found in
the condition Of the government account at the Bank
Of England. Unlike any former war, all the expea-
diture Of the present one has been betrayed quick
time Of peace. The cost has not been enhanced b.
rules q 70 contract and time Of payment have
been rigidly adhered to. The same sum Of money.
former occasion for similar services. Well, &
the April quarter, the balances In the Exchequef did
not exceed co 900 000 even including bills
coIding e PaItiis@enssIy return had been isssd,
ter, 70 the amount of 100000 Independent of that
sum, the balance was about 81 800 900 Since thsn
all payments have been made regularly and punctu-
have been paid off, and although thsrs Is yet more
than ono third Of the quarter to run, the public L.
pcsts in the bank, according to the accounts pub
lished last night, amounted to the sum Of f4,782-
800. Independent Of this sum, there is Of exohe-
quer bonds and bills still unissued, sum of 81 OOO-
600. Ard in any comparison that may be made
between the state of the public account now, and
sses SS % Ss obeso s
pay on public debt to the amount Of $4,000 900.
Now, no such obligation EXISTS the whole OF the dis
sentients have been paid off long ago. and the balan
to 90 low an ebb In January and April last, are "a
pldly recovering their full amount, notwithstand-
ing the great war expenditure. In April tia
actual balances left for the disbursements Of the
January, judging from tine present condition Of the
bank account, and after making every allowance
for very extr sordlnary amount Of expenditure In
the meantime, the balances must amount to some
thing over CA 900. We have been am Jngst those
who, from the first, when war became inevitable,
have dwet strongly upon the necessity OF, putting
out our whole strength, and Of emitting no means
which would be likely to contribute to an honorable
peace. We have urged over and over again that No
present saving Can compensate for pr0tractioa al
awar-that economy, humanity, and every consi-
teration pointed to that course no matter at whas
9 efficiency and not profigacy that we want. If
the government want more money--no matter how
much-in order to render their efforts more efSec-
tuAl, and success more secure and speedy, PAriiar
form in which the government would be likely
ask for il; but If, on the other hand, all that
could possibly be done can be accomplished
with the means already SO literally placed ct
be 9 source OF satisfaction than Of disap point
meat, which it appears to be. No doubt it is
matter which will ever rebound to the honor and
creoit Oh tnls country, tnat, NJ crAsls ike tde
present, the great masses Of the population at
home should % r:epsred and rsa..yr, MY, anxious
to make sacrifices, no matter how great, to Aid
their countrymen who are fighting their battles
abroad and to secure the success Of the greatest
enterprise which the annals Of the world record.
And 80 far a. expenditure goes there will yet be no
lack OF opportunity for gratifying this noble sss
ment Of what is due to those who are bearing the
blunt OF the struggle. But let US rely upon it, there
Is no better security for that success which all so
Ardently seek, than a wise disposition OF our re.
seuIces. The greatest Of al the qualities exhibited
by the Duke Of wellington in the field was that
which enabled him to dispose OF every resource
within bis reach, whether Of life or money, in a
manner at once the most effective and the mott
economical. After what VIC have sid, il may an.
pear unnecessary to add, that appears there Is 10
ground whatever for the rumor fnat has been Al
osts ntaiouay put forward, that the main osjccl OF