New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1857-11-24

il lnfe1aEy, resesot~n w"
teseh in every department. 70 arrest al spP'opf''
tiers not sbsoluteiy needed, b stOp 'uen works
were proposed to be undertaken, aad :" dina'e 'ne
money voted for othen over . larger surisce OF
time. This purpose was no sooner DISCLOSED s0An
Il WIS followed By re monstranees from al quarser
and Il wa, then abandoned. Recently, however,
.he actual condition of the Tressuy and its ngni.
cant Developments for the future, have compened
Mr.. Cobb TO scrutinxs closely and to curtall "ner
ever il be possible. For this asOn the contract iof
the New-York Post Office site was not Closed yes
terday with the Committee of the Common Coun-
ell, according TO the proposition which the rosy
master General and the President approved. MI
Cobb did not feel himself at liberty TO deplete the
Treasury immediately, even 10 the extent OF
cusyter of milliop, and when it was suggested
that the payment might be deferred several months,
no decisive answer las returned though favorable
disposition was manifested.
Efbis fact requires no comment, Tor u SHOWS
concusivey that the Treasury must be empty before
long. and cannot be replenisbed but by the use oil
the public credit through an issue OF Treasury notes
or = loan. The Administration shrinks from the
responsib lily of increasing the public DEBT ana YET
il indisposed TO take the responsibility OF stopping
works by which Thousands may be employed during
the coming Winter. One or other must De laced
before long. While it is true Mr.. Cobb may with
hold several millions that ordinarily would be dis.
trlbuted. and thus nominally reduce the outlay OF
the 'current fiscal year, still, even that mode OF
economy will not give him clean balances hee1'
unless the imports for the next SIX months are
swelled nmeL sely. We are now nearly Two months
in the second quarter with large palPaole dehct'
which the Secretary hopes may be made lup In the
third quarter from warehoused merchandise, thus
producing an average Of estimated revenue from the
two. His reliance upon the fourth IS IN the revival
of the Spring trade, without any other basis, now
ever than the opinions of sangulne merchants
Admitting tbese data and there Is stu another
point of large Importance 10 be considered Accord
ing to tables pre- pared at the Treasury Department,
by applying the rates of the present tarin 70 Inc
imports Of last year, there is found 10 De iahng
of of about twenty five per cent IN the aggregate
revenue. which. at one blow, would reduce Alr.
Cuthries estimate from customs for this fiscal year
sixteen and a half millions. Adding to 1t the re-
duction from lands, and deficiency OF at least
eighteen millions would appear. But this Is not tne
worst feature by any means. IL is characteristic
of the beautiful ad raiorem policy that the revenues
increase when they are least needed-that is, wheh
there is general infation-and diminish "hen
most wanted. With curtaed credit abroad, loss OF
confidence at home and cramped discounts In bank,
the imports of the remaining half of the fiscal year
must be cut dow inevitably. Apply the reduced
duties 70 the reduced imports upon any REASONABLE
estimate, and the whole story will be told.
And while this is true on one side, the o,her side
Of the account is still serious. We are on the
eve of an Indian right in the heart oil the Con
tnens with deserts, SHOWS and an untamed wilder,
ness az the surroundings. We may be considered
as already started in Mormon war; embellshed by
like accessories. Every pound OF prov sion must
be transported thousands of miles Tor the troops,
and at cost which is fearful to contemplate.
We know the price of the Florida war right at our
own doors, but We have not the remotest conception
Of the number of millions that will be required to
fight the Normons and Indians in Utsh and the
deserts separately or combined. Therefore the army
cannot be reduced. The navy is already so feeble
in force and scattered over the world, as to be
unable to arrest proclaimed expeditions of fillbus-
ters. Consequently, there can be no retrencAment
in that quarter. For these two arms OF the ma
tona defense, including Notifications and West
Point, $50, 0000 600 were appropriated for this
year, and great deal more will be required the
next, saying nothing of certain present deficit.
The public works here, such as the extension
Of the Capitol, of the Post Office and Treas
uTy Departments the vast Aqueduct and
others, are in such statb OF forwardness,
that to stop them would involve serious losses.
Thus they cannot be rstrenched. Hence if Mr.
Cobb should suspend in respect to inland Custom
Houses by the score, as he means to do, AID other
little matters il will only be drop in the Titanic
bucket. The expenditures will just as certainly in
crease as the revenue will decline, and how is the
vacuum to be filed but by borrowing And when
that System once begins, it will prove just as per-
nicious to proper legislation an OVERLOOKING
Treasury. because the lobby and the agents for
claims on the floors of Congress will contend that
few millions more or less will make no material differ
ence in the long run. 1t is thus that Free-Trade
sacrifices domestic industry, impOvershes the Treas
ury, preciptates financial revulsons, and democrat
lies the legislation OF Congress. INDEX.