The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-07

the next Congress, and that, most likely, the ten
war steamers will suffer the same fate
Failing back, then upon the ordinary and cur
rent requirements Of the ensuing fiscal year, and
the indicated deficiencies of the treasury, we
come to that revision of the tariff suggested by
both Mr.. Buchanan and Mr.. Cobb. Here, how
ever, we find the President recommending the
policy of specific duties in certain cases, while
Mr.. Cobb as earnestly pleads the superior advan-
tages of an inhexible ad valorem system. The
President contends that " sound policy" requires
"specific duties" upon certain articles usually
sold by weight or by measure; such, for example,
as "artcles of iron Of different classes raw
sugar, and foreign wines and spirits;" and that
revenue tariff would at the present moment, to
some extent, increase the confidence of our
manufacturing interests and give fresh impulse
to our revivng business" But Mr. Cobb says,
concerning the work of revenue tariff that
1t is obvious that this is efiectuay done by taxing
in preference TO Others such articles produced
in which the home product bears the least proportion to
the quantity imported the ttest for taxation The
reason that in taxing articles not made in the country
the whole sum taken from the goes into the
treasury while in the other class the pays the
enhanced value not only the quantity imported but
the quantity made at home This last tax is paid not to
the treasury but TO the manufacturer thereby rendering
such duty not only burdensome, but grossly unequal
the home producer being benefited at the expense Of the
consumer.
Thus the President, in the very outset, is
flouted by the Secretary of the Treasury, who
looks rather to the peculiar views of his own
political section than to the general interests of
the country; but as it is Mr.. Buchanan, and not
his head clerk of the Treasury, who speaks for
the administration, the two houses of Congress are
called upon to act not upon Mr. Cobb's, but upon
the Presidents recommendations. The prospect
however, of any satisfactory agreement between
the two houses upon specifics or ad ualoyems is
exceedingly slim. We understand that the South
ern majority of the House Committee of Ways
and Means are in favor of the ad galorem policy;
but we have seen, from test vote upon a pre-
liminary question, that the House ITSELF with
its heavy Northern ascendancy, leans decidedly
to the Presidents plan of incidental protection.
On the other hand, the Senate from the con-
trolling votes of the non-manufacturing and iron
consuming States of the South and West, will,
we presume, be found strongly on the side of
determinations against the protection of Our
home manufactures Between the two houses
we thus have very little hope of any tariff bill
at this session competent to meet even one-half
or fourth part of the inevitable deficiencies of
the treasury, with all the pruning, and pairing,
and postponing of appropriations that can posi-
bly, be made.
What then? What is the President to do in
view Of the nine months recess before him, and
of the contingencies which in this interval may
imperatively require additional supplies of
money? 1t has been reported from Washington
that, in default of the required financial ways
and means from this Congress, he will call an
extra session of the next and appoint the early or
the latter part of the coming summer for its de-
alterations. And why not? An extra session will
involve some additional expenses to the treasury,
and some extra Inconvenience to the members
concerned, and to the States which have not yet
elected their members for the new Congress; but
when the general government is driven to the
verge of a suspension from the exhaustion of its
means, there can be no escape from an extra
session, with nine months regular vacation of
Congress to provide for.
We have no doubt that the President is parti-
cularly anxious that this Congress, whatever
else it may do, or may fail to do, shall provide
the necessary means and authority to enable the
Executive to work along without further re-
QUESTION upon the legislative department till
next December. And, to give the members of
all parties of this expiring Congress no shadow
of excuse for the neglect of their duty in the pre-
misses, we hope the President, if necessary will,
on or before the expiration of the present month,
lay the budget of his financial necessities before
the two houses, in special message, including
fair warning of an extra session in the event of
present failure to meet his just, reasonable and
inevitable liabilities. Thus the responsibility
will be fixed where it belongs, and the admins
tration will stand fully justified before the coun-
try should he be driven to the extremity of an
extra session.
We rejoice that the constitutional existence of
this present Congress, of demoralized parties
lobby jobbers, party rebels, factious leaders and
sectional ciques of President makers, draws to
close. We have dismissed all expectations of any
bold, great and progressive measures at their
hands; we have our misgivings that they may
adjourn leaving the treasury and the most i'm
portant affairs of the government foreign and
domestic, in that loose, slip-shod dsordered and
bankrupt condition from which the President
will be compelled to appeal in an early call upon
the new Congress- The interval of few weeks
will settle the question, and a seasonable warn
ing from the President will at least put his ad-
ministration right before the country. The ex-
pensive legacies inherited from Fillmore and
Pierce, and the ruinous legacy of the late sweep
ing financial revulsion, must be provided for and
Congress alone has the power over the ways
and means
DISREGARD OF THE Cry ORpryANcEs-NE-