The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-11
Mr.. Cobb and the ExistiDg Treasury System.
One of our dispatches from Washington states

mr. CODO ana the Exist1Dg Treasury system.
One of our dispatches from Washington states
that the Secretary of the Treasury does not
anticipate, from present appearances, that
the revenue for the fscal year ending the
30th of June next, will amount to more than
thirty million dollars; and it is further stated
that the administration view this prospect
with pleasure, as it viii probably offer a check
to lavish and corrupt legislation. From present
appearances we should not feel surprised to find
the revenue falling even below the sum mention
ed. Indeed, the government may consider itself
fortunate if not forced into a loan to meet its
empty treasury, an economical administration
and an honest executive are what the country re.
quires, and what alone can give it true prospe-
rity BY economy We do not mean q niggardly
curtailment of measures absolutely necessary for
the Development of our resources grind.
ing down of the salaries of our public officers
True economy will prompt the encouragement of
trade and commerce, and the liberal payment of
all persons engaged in the public service But
it will also as promptly put down the scheme for
robbipg the Treasury by squandering the public
lands amongst set of sharpers, and donating
large sums for the establishment of naval depots,
such as the Weed lobby managed to slip through
last Congress- by the purchase at enormous
prices of islands of no value except to speculate
on the government with. A proper economy
also, will oppose headlong appropriations
for "harbor and river improvements" by
which every member of Congress seeks to
secure portion Of public money to
be expended in his neghborhood for
the deepening or widening of some mud hole
not because the interests of commerce demand
1t, but because he can make capital at home by
securing 80 much of the plumber" for distribu-
ton amongst his own constituents
AS for an amendment of the existing tariff. we
can readily understand the necessity of further
legislation. What propriety for instance, was
there in taking off IS per cent Of the duty on
liquors? Why should not the great iron interests
of the country receive fair incidental protec-
ton Is the railroad interest to swallow Up all
other considerations? What argument can be
urged against levying a duty on tear Why
should not the tariff be so constructed "a to tax
Injuries, and thus let the burthen fall upon those
best able to sfford it
We have confidence in the able aRd distin-
guished head of the Treasury Department, and
We believe he possesses the nerve requisite to
meet the present crisis and to urge upon Con-
gress the adoption Of wholesome ard proper
amendment Of the tariff and the existing revenue
laws, and the initiation of honest legislation.
There is no doubt the character Of the Executive
has powerful influence upon the action of Con-
gress. To the influence of poor Pierce must be
charged much Of the corrupions which dstin-
gushed the proceedings OF Congress during his
administration. Dishonest Legislators were stimu-
lated by the knowledge that the pen Of the Pre-
sident stood ready to record his sanction OF any
scheme, no matter how monstrous with which
his followers were mixed up-whilst measures
really possessing merit we're actively opposed
and withered under the blighting effect OF Execu-
tive disfavor An administration which aided in
squanderirg millions of the public domain on
bogus railroads requires no written eptaph be-
yond that unmeaswed contempt which follows it
even into its retirement