The daily union. [volume] (Washington [D.C.]) 1845-1857, 1857-02-20
fnF' SURPLUS IN TnE TREASURY. MODES OF DE-

iLEilON.--NEW fOLlIiCAL
II is now settled that the present administration will re-
tire leaving in the treasury surplus of more than
twenty millions Of dollars This state Of things which
has been standing fact for several years exciting much
soicude and apprehension to the probable effects on
commercial and monetary affairs Of Increasing surplus
revenue The pernciouS consequences Of large eupus
too obvious require enumeration OF comment We
think the proper mode of avoiding the evil is quite
as obvious and that is, by reduction Of the inn
posts and would add, reduction also, of the
expenditures. The Secretary of the Treasury has not
failed to urge upon Congress, again and again. the
Importance Of reducing the taxes imports; but differ
of opinion the best plan of eecng the reduc
ton have hitherto prevented the accomplishment of the OBJ
ect The same differences likely at present TO pre-
cent nsuperabe obstacles its accomplishment during
the few remaining days of the present Congress In
view Of this state of things several suggestions and prop
osons are made which look to the action of the next
Congress and some of them have the appearance of
purpose to revive some of the old political issues The
intelligent correspondent of the Sum- @Ion" alludes
follows to the subject:
Several plans for avoiding the impending evil Of
mutation the currency of the country in the
vaults been introduced in Congress- The surplus
nue. twenty five millions, may be sixty millions by the
s of July 1855 Under this state of things business would
become stagnant, and the mportaons decline, while the
the country would suffer both in the foreign and
domestic markets Stocks and real estate and the wages of
labor would fall and great enterprises for public im
provemens the States probably be checked to more or
| less extent.
cit has been generally thought that this Congress is in
competent to devise legislative remedy for this evil We
shall see, fori has fortnight to exist.
GA timely and judcious revision of the tariff the
proper remedy and for this purpose is pend
ing the House. The Committee of Ways and Means
gone back their plan OF July last in regard the free
list found that the objections to the reduction of duty
hemp and lead very strong; and that as to
WOOL they abandon the plan Of ten percent. duty
retain the duty of thirty per cent upon medium WOOL
leaving fine wool and wool duty Free Some suppose
that the scheme, proposed by Mr.. Campbell, will
pass the House. but meet with nsuperabe obstacles In the
Senate.
"Oher alternative projects looking to depletion Of the
treasury in contemplation Mr.. Bell, Of Tennessee,
brought forward to day in the Senate his bill for dsbu
among the States of the proceeds o. The sales of public
lands from certain date and to be continued until each
State sha have its fair and equal share In the benefit Of
those sales This would Withdraw from the treasury about
twelve thirteen millions and hereafter several millions
annually Mr. Bell supported his plan in effective speech
aMr Garlic, Of Virginia, has project also, which is
devoted to the object and which gives to each Of the
old States fair and equal participation in the benefits
arising from the disposition of the public domain Upon
his motion yesterday call for statement to be made at the
of the disposition of the public lands up
| end Of the present fiscal year was adopted"