Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1858-01-07
NO. @.


Of Treasury notes was absolutely estab-
lished. He was still looking to these
notes only as a contingent resource. Is
said:
while the estimated amount Of impo1-
tations justified the conclusion that the
revenue for the present year might be suf-
fcicnt to meet the wants of the Govern
ment, yet the actual receipts into the Treas
ury in time to provide for the wants of
the public service were depcn dent. not on
the amount of merchandise imported, but
the portion entered for consumption. At
this time there is held in the warehouse, in
the city of New York alone, merchandise
subject to duty exceeding twenty -cigh.
million dollars in value. on which, when
entered for consumption, duties must lie
paid at the amount o. more than SIX miilien
dollars.
The period when such payment OF du-
~ will be made. may be influenced by so
many circumstances, that the public credit
should not be hazarded upon the contin-
gency Of its happening in time to meet the
liabilities which we know must be provi-
oed Tor al an early day
Though the amornt OF 500, 900, 900
will not, in all probability, be needed at
ali early day, il at all, yet it is deemed bes.
that the Department be authorized to issus
and keep out that sum, should !; be re-
quired by the public service
Still later. ON the 18th Of Decembcr.
Hon j. CLANCY Jones, chairman Of the
Committee OF Ways and Means. md
whose personal relations with the Admin
istration arc most intimate and confden-
tal, used the following language in the
House:
The necessity for this measure does
not arrise so much from an empty Treas
MY, for there is in its vaults an available bal
ance Of $4,000, ,0o0. but we are in such
condition that there is no telling a;
,rhat dag tie Treasury n,ay Be erkaus
ted by some sudden change, some con
tingencv or other, like cutting off Of
/ imports. or bonding those which do
arrive in the country The Secretary OF
/ the Treasury must not be understood as say
ing that the Treasury is exhausted. and ths,
this money is wanted for the ordinary ex-
penditures ofthe Government, but as wish
ing that $40, 100000 of Treasury notes. at
the lowest rate of interest. may be placed at
his disposal when circumstances may re-
quire them"
These statements cohrm the information
we have received that the Secretary Of the
Treasury dorm 10 waiia faoo weeks Of the
sitting Of Congress, really did not anticipate
that loan would be needed st all
He believed that cotton would bring high
er prices than it did last year. and that orr
exports would show no material falling of.
ANA above all, MS iaIth was unshaken IN
the general proposition" thai OH imports
will show an annual increment OF zen per-
cent. lie has hugged himself in these and
similar delusions, and has been stone-blind
to the actual condition and prospects of
his department of the public service.
When Mr.. Wilson proposed IN the Sen
ate to cut down the Treasury note bill from
twenty to ten millions, Mr. Hunter. tie
chairman of the Committee on Finance.
who utters his own views. and not the
views Of the Administration. expressed his
apprehension that, if the amendment wss
agreed 20, Congress would he called upon
TO pass another bill, rs car'y as IN TIE
month Of January.
Thus instead OF there being any doubt
that loan to some extent was needed. the
Treasury could scarcely bear the delay Of
the legislation to supply it. even, under the
hurry Of the party whip and spur. Instead
Of its being doubtful whether the whole
twenty millions would be needed ''ot air.
or "at al early day." it will all be used
ND before the next session Of Congress COM
nlences. Instead Of its being true that ths
whole difficulty has arisen from the ware
house of imports. if the public warehouse
of New York were emptied to day, land
they are never wholly emptied in the most
prosperous times. the resulting revenue.
six millions would be insufficient, by four
millions, according 20 the intelligent esti-
mates of Mr.. Hunter, 10 carry the Govern
nent to the first day of February.
The men at the head of the Government
are totally incompetent TO the conduct Of
public affairs. and the country, in their
hands is drifting upon the most fearful dis
asters. The war in Utah. brought on By
their bnngling. will engulph untold mill
ions. Not adollar 10 they propose to aoats
oftheir enormous expenses. Not dollar
will they add. or permit others TO add. to
the public reycnue. And it Is II this condi-
.lion of affairs that they Judge the moment
an opportune one to risk civil war. BY fore
Ing the people OF Kansas to submit TO a. US
urpation which they sbhor Whom ths
gods intend to destroy, they first make mad