New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1859-01-18

" Great is Bankruptcy" writes Carlyle the
deep-s seeing; the bottomless gulf into which
"a all Falsehoods public and private. do sink,
" disappearing; whittier, from the first origin Of
them, they were AL doomed. For Nature is
/" true, and not lie. No lie you can speak or
"sct but it will come, after longer or shorter
" circulation, like Bill drawn on Natures Rcali-
"ty, and be presented there for poyment-with
" the answer, No cfsotS. Pity only that it often
" had so long circulaton; that the original forgcr
O. were so seldom he that have the fnsl snarS Of
att With a Fortuuatus' Purse in its
pocket, through what length of time might not
" almost any Falschood last ! Your Society, your
" Household, practical or spiritual Arrangement,
sis untrue, unjust, oficDsive to the eye of
God aud man. Nevertheless, its hearth
ais warm, its harder well rcplcnishcd:
L" the innumerable Swiss Of Heaven, with
hind of natural loyalty, gather 70 md it; will
"prove, by pamphleteering, musketeering, that it
." is Truth; or, If not an unmixcd (uncarth'y,
" impossible) Truth, then, better, wholesomey
" sttempered one Gas t1e wind ia to tse shOra
"hmb) and works well. Changed outlook how
"eyer, wien purse and larder grow empty Was
" your Arrangement so true, 80 accondaGt vita
Natures ways; then how, in the name OF won
"der has Nature, with her infinite bounty, cone
"tc leave it furnishing therel To all men, TO all
women, aDd all children, 1t il no% indubta5le
" that your Arrangement was talse. Honor to
Bankruptcy ever righteous on the great &c ile
" though III detail it is so cruel Under all False.
81 - air., III.
"hooG, did it rise heayen-tigh aud cover the
"wolld, but Bankruptcy, ooe day, will sweep it
" down, and make us fee oft"
-Cougress is about TO be called ou to indOrsc
aroibtr Federal Loan for Thirty Millions Of Dol
lars. TIE ostepslble reason for this Loan is the
falling due Of some Eighteen Millions of Treasury
Notice, authorized 81 the Las. Session. uuder the
deuSive expectation held forth By Secretary Cobb
that the deficit then begiDLiDg to yswn would soon
be storpod-ihst the Revulsion of lSj7 was Only
Panic" Summer squsO, thupdor-gust, a1d
that tie Treasury, ~ithou, any futt1er provision
Of income, would soon be flush again. We dad not
believe this al the ,me--did Dot encourage others
TO believe it. We teld that there was Do Psuic'
bat Stern Ieali,y-hse 4 Ieprobatos first con
tci,us approach 10 tire close of an Ill spout life.
Md We believed that Congress ought 70 deal with
n, d, Gcit rs no fgbty wili.otpe. Sisp, but meet
/, manfuIly by providing for very radical re-
tIencbnebt OF Expenditures, oraVery considerable
aus nenta,ion of Revenue.
Congress, with scarcely a murmur Of di'sen.,
deferred 20 tie views OF the Secretsry-au ,horizci
blm to issue TTep'y Million, of Treasury Notes,
snd then TO borrow Twenty Millions on long tune
in the regular way. AL tnis was but po,tponing
tie evil day. which already makes its unwelcOme
resppeAIance. Thirty Millions more are now
asked fcr-pstt Of them to redeem the outstanding
TT sasury Notes; par, 10 choke the sili yawning
deficit.
We prot,s! against the borrowing Of another
dollar. lie; tue Secretary reissue for few months
part of his incoming Treasury Notes If re will;
but let Lot dollar Of new deb. be contracted.
There ia 10 need of any-no prcft, no advantage,
in Masking a uew Loan. AT leass One Hundred
Nil lens worth of European Wares and Fab. les
are already ordered, and viii be pouring into our
ports during the ensuing ak months. Let Con.
gees enact Tariff Of Specific Duties high enough
10 deirsy he current cost Of carrying on tie Gov
eminent AID pay off The Treasury Notes within
twelve or eighteen months, ard very few Of these
goods viii be couniermsndei, While tie whole
county WI feel It's Industry electrified
and its ability to psy for and consume sood' at least
doubled. Let the word 80 forth tia. our oxa
dead furnaces are 20 te more pat II blast AID
TO remain so, our staenaLt machinery set 10 MO
tGp, and all viii feel tina: the DARK days draw 70
a Close. Such tariff, levied promptly, to take
INN. date efrec., would gu the Treasury rapidly
becau'e Of tse outstanding order, fjr European
Merchandise, ard because our closed factories aud
c1d furnaces require tine TO Sc. them effectively
at wcik. If the Democratic party prefer to raise
tie requind revenue BY Direct TsHAsisu, i! can