The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-02-02


per n Forrest was sold evening before last at llc
nd 900 bags IAgusyra sold at llho. 12c Freight On
easemens we're moderate. and rates unchanged.
The Treasury and the TariN-The Northern
Majority OF the House W.. the Southern
and Western Majority OF the Senate.
The resolution which was put through the
democratic caucus of the Senate on Saturday
last, declaring that 1t is inexpedient, at the
present session, to disturb the existing tariff law
was, doubtless intended as party decree, pass
ing this important subject over to the next Con-
gress, in contempt of the Presidents recon-
mendations But the resolution introduced into
the open Senate on Monday, by Mr.. Bigler,
affirming the Presidents views, and the proceed
ings Of the same day in the House, very clearly
show that this last Saturdays Senatorial caucus,
instead of shelving the question under consider
alton, has only precipitated the inevitable issue
from which there can be no more lodging.
Mr. Bigler appeals from the caucus to the
Senate-from the Southern managers of that
caucus to the representatives in the Senate of the
several States in their public capacity, and
puts to them this unanswerable proposition
that, as the creation of large public debt in
time Of peace is Inconsistent with the true
policy Of the United States and as the present
revenues are insufficient to meet the unavoid-
able expenses Of the government, Congress
should proceed, without delay, 80 to re-adust the
revenue laws as not only to meet the deficit in
the government expenses, but to pay ofthe present
doh for hn 1oh ~ IA
cancellation" On the same day (Monday) there
were some proceedings in the House on the
same subject, Of still more significant character
MI. Houston, Of Alabama, prominent leader
OF the Southern democracy, and, If we mistake
not, low nd valorem tariff disciple of Mr. Secre-
tary Cobb, asked leave to introduce bill au-
thorizing the President to contract new loan of
twenty millions; whereupon Mr.. Covode, of
Pennsylvania, wished to know whether the gen.
tleman intended making any provision for the
! payment of the loan, as the delegation from
Pennsylvania will not consent to vote for an
| appropriation of money until there are some
measures adopted to supply an empty treasury.
He would tell the gentleman they (the Pennsyl-
vanians) arc not going 10 suffer them (the loan
party to run the country into debt without
first revising the revenue laws, go as to increase
the receipts of the treasury"
But Mr.. Houston was not thus to be frightened
of, and so he moved q suspension Of the rules,
in order to make an opening for his twenty
million loan. And this motion has given us
something more decisive than the decree of the
Senate do-nothing caucus; for the vote of 70 for
the suspension, to 127 against it, as we take it,
is tantamount to a resolution by the House that
there shall be no more loans nor treasury notes
without some provision for their redemption.
Thus, then, stands the case. The Southern
and Western democratic majority ofthe Senate,
whose constituents are more deeply interested in
cheap ''store goods" than in protective duties of
any kind, are afraid to touch the low tariff of
1857, and shrink from it, Notwithstanding the
stringent necessities Of the treasury. But the
Northern majority Of the House, whose constitu-
ents-especially the Pennsylvanians are very
deeply interested in home manufactures, are not
disposed to let slip this present golden opportu-
nifty for at least that incidental protection which
revenue modification of the tariff may confer.
With this division of Congress the President
stands committed; while by the other side, the
Presidents head clerk ofthe Treasury, Mr.. Cobb,
is regarded as the genuine oracle of the policy of
the democratic party.
We apprehend, too, that in this conflict be-
tween the tariff majority Of the House and the
antitariG democratic caucus of the Senate, as in
all other cases, the weaker body will have to
ouo NH 70 fho T1o n
constitution-and wisely, too-holds the initia-
tive authority over the revenues of the federal
treasury; and, in this connection, the resolution
against Mr.. HOuston's loan bill may be accepted
rs very scasonablc rebuke TO the Southern de-
mocratic leaders of the Senate. Their little
plots and plans for the next Presidency, and for
the Southern elections yet to come of for the
next House Of Representatives, upon which may
fall the election of our next President. may be
worth look after; but rapidly increasing public
debt, and heavy excess of current expenditures
over current receipts, are matters Of higher and
more immediate importance than all the local
conveniences and inexpcdients of President
making politicians
The House of Representatives have the right
side Of the question, and they have the admins
tration with them, of which the President of the
United States is the official organ, and not his
head clerk of the Treasury. This resolution
against Mr.. Houston and his loan bill should be,
and doubtless will be, followed up by the House;
and if the Senate should remain incorrigible
and refuse modification of the tariff, let the
House stand fast and refuse any more Treasury
notes and loans. An extra session of the new
Congress, "ffesh from the people," will doubt
less come to some satisfactory agreement, and so
the sooner the President shah be convinced Of
the imperative necessity for an extra session, the
better it will be for all concerned.
But the democratic caucus Of the Senate, as
we understand e have agreed that the naenhnrs