The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1859-01-31

urOtAon bSau uhc IN hAAsScEAuG Fortys
We have carefully read the proceedings of
last week. the eighth of this the closing session
of our memorable aud demoraized Thirty.tifth
Congress. 1t is to be remarked that, as 10
Falstaff's tavern BILL there is an ocean of sack to
penny of bread in the net results OF this
one weeks hard labor. The reports upon the
thirty million Cuba scheme; the inexplicable
proceedings of the House upon the Diplomatic
and Consular Appropriation BILL including the
incidental debate on the African slave trade; the
Pacific Railroad preliminary bill passed by the
Senate and the anti-P Protective Tariff resolution
adopted ON Saturday last in caucus OF tue
democratic majority of that bsdy, will compre-
bend about every thing that can be found in
these transactions worthy of especial notice.
We have already spoken of the Pacific Rail-
road scheme adopted by the Senate, as a
iudicious and sensible measure; for surely,
before plugging into this prodgous, expen-
sve and financially Improbable enterprise, it
is well to ascertain, by some practical test, the
approximate costs of the contemplated road by
each of the several routes indicated. To this end
the advertisement for practical bids for the job
along L0c NOTtucIu, tuC OCuoioA ohO thC
Southern route is the readest and simplest pre-
urinary movement. Indeed, as no sensible mau
or body of men would ever think of pro-
ceeding to cut tunnel, to fill up a
valley, or to build bridge, without first
having ascertained by advertisement the low
est approximate cost of the work, it would
be the height of extravaganza and folly on the
part OF Congress to disregard this universal prac
tce, on job in which the difference in cash, to
be lost or saved, may be twenty, thirty forty or
fifty millions of dollars. We are informed from
Washington, however, that the Senate bill is not
likely to pass the House, while in the meantime
the question of its reconsideration in the Senate
sto be decided to-day. Very likely, from the
discordant elements of the two houses, even this
nitiatory bill will fall to the ground. So little
reliance can be placed in the facti0us, corrupt,
scheming and wrangling politicians of this Con-
gress, that We cannot depend upon the success of
even the simplest propositions of policy, econo-
my and common sense.
The democratic Senatorial caucus referred to
on the tariff question, aud its decision, afford us
a striking confederation of this opinion. The
resolution of Mr.. Bigler, that the revenue be-
ing insufficient to meet the expenses Of the gov
eminent, it is wise and expedient to increase the
import duties to meet the deficiency" sperfectly
| unanswerable. It is as clear as the "fixed
facL that if the regular expenses Of the treasury
are seventy-fve Millions while its receipts and
available means are but fifty millions, there will
be deficiency of twenty-five millions. The
tariff of 1916, under the plethora of redundant
income, was cut down to diminish its revenues
They have been so diminished very consider
ably. The sweeping financial revulsion Of 1857,
and the expensive legacies left to Mr.. Buchanan
by poor Pierce and Fillmore, meantime have
operated, on the one hand, still farther to di-
minish the treasury receipts, and on the other
to augment, beyond all preceding estimates
of the peace establishment, the treasury
| expenditures.
Thus the treasury is empty and thus, under
the reduced tariff schedules of 1857, under the
most llattering estimates for the ensuing year.
there cannot be raised an income sufficient to
make both ends meet. 1t follows necessarily
that as our only existing source Of revenue, of
any account, is the tariff, its schedules of tax
| dtiOA uluoI NC Iulstu, IL We WOulu reIcVC the
treasury; or that, in abandoning this expedient
of relief we must resort to direct federal tax
alton of the people, sooner or later. The re-
sources Of treasury notes and loans are only
borrowed money, and the more our public debt
is thus augmented the heavier will be the ulti-
mate burden of the taxes to be levied upon the
people. The President DESTROYS of tightening
this burden, instead of increasing it, has recon-
mended certain notifications of the tariff as the
duty of this present Congress.
And why not! Time is money, and the loss Of
a year upon this subject may be equal to dead
loss Of ten, fifteen or twenty millions in the end.
There is evidently reaction at work from the
general prostration of the late revulsion-there
is prospect Of large importations during the
ensuing fiscal year; and while they may be
ruinously large under the low duties of the act
of 1857, these importations may now be wisely
turned both to the advantage of the treasury,
and to the protection Of our manufacturing and
commercial interests from excessive imports. In
the absence of any tariff notifications at the
present session. and in anticipation of an increase
of duties at the next, our importing merchants
will doubtless bring over in the interval excess
sive quantities of foreign goods. Thus the ad-
vantagcs expected to the treasury from an in
crease of the tariff assessments may be very
largely cut off, and thus our manufacturers may
be still more seriously crippled than at present,
and our mercantile affairs, through all their
qualifications, still more seriously embarrassed.
This view Of the subject, as it appears to u.s. is
as clear as the monday sun-whatever may
be our views upon the broad abstract issue
between free trade and protective system.
We are discussing the exigencies and necessities
of the day. The treasury is empty-millions of
money will be wanted to meet the deficiencies
which will occur under the present tariff The