Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1858-05-27

Corresp1nderss Of The Baltimore sun.l
WAsHINGT0N, May 2l.--The letter OF the
Secretary Of the Treasury, proposing loan of
fifteen millions, was to-day referred to the
committee on ways and means Of the House.
The Secretary, in bis remarks on the expedien-
ey Of q modification Of the tariff at this ses
sion, for the reason that the effect Of the exist
ing tariff had not been sufficiently tested, has
reference, as may be supposed, 10 projects for
an increased revenue BY a return to high duties.
The tariff at toe last session has not, in conse-
quence Of the late commercial revulsion, de-
Velopsd its effects but it is reasonable to sup.
pose that it would Of itself considerably re-
duce the revenue-perhsps IS per cent. A re-
vision with a view 10 further reduction Of the
revenue is not probably contemplated BY the
administration.
The resolutions with which the report Of Mr.
Boyce (erToneously printed Rodgers in this
mornings Sun, concludes, are no doubt TO be
the basis OF a new fiscal system hereafter to be
eontendei for By the free trade interest. Wher
this system shall be carried out the expenses Of
the NdtiOnsl Government will be betrayed BY
the quota system Of the old confederation
Each STATE viii furnish, or refuse or neglect q
furnish, in former times, its quota for the ex.
/ penoltures Of the National Government.
But, prior to that resort, there is room fol
considerable improvement in the tariff by ar
l approximation toward free trade, BY the aban.
donment Of protection, and By Increasing ths
rates Of duties on Injuries and diminishing
them on neeessaries, a. proposed by Mr
/ BOyce.
The passage of the bill, BY the Senate, re.
I pesling the law under which fishing bountieg
are paid, is a step in the direction of Mr.
I Boyce's plan. It strikes at the principle upoT
which rest our tariff aud our navigation laws
The revenue from imports is not soon to b,
reiEstated st the point which it reached a veal
/ ago. According 20 the opinions Of prsctiea
/ and iudicious men, that will not be the case fO
two wears to cone; and, meanwhile, eithe
large loans, or a reduction Of expenditures, o.
both, must be resOrted to BY Congress.
The House of Representatives is engages
upon the Minnesota election question, with th
prospect of finishing it to-day, BY putin.
Messrs. Phelps and Kavansugh in their seats.
The homestead bill was explained and Tindl
Gated in an able and interesting speech By Mr.
Johnson, Of Tennessee, yesterday. He shoWe'
that the effect Of the measure would be to re
move some of the social and political evils IN
der which we labor, and increase the strength
and stability Of our institutions. ION'
E Tom Marshall and Dr. K. ]. Breekin
ridge, old sebool-mates and cousins, and nearll
Of the same age, are accustomed to cail on
another by their first names, Ton and Bob
! Last sumner the latter advertised 10 the Lou
isville papers bis new book, BY its full title
" The knowleige Of God, objeefiDely consider
ed" few days after, Marshall met the Doc
tor 10 the street, and said to him /" Well, DR.
Bob, | understand you have Published bool
Of objections to God. Nov want you TO IN
I derstsnd that, sinner as am, have no obise
tion to God.2
q Well, Ton," replied the divine, ssI az
glad to hear you say 90; bat am very sorr
| that as GoL'e ambassador, can not return th
oRpliRsRt.-C Ci&eisEGtS GGastts.