, 1860-06-28

We referred, = lew days ag0, to tie ciFcunl-
stances which garc rise to, aud subsequently, ut
tended. the issue Of twenty millions United
Stutcs Treasury Bills. now authorized by Con-
gress to he funded. This Gun. and similAr
cue in i've per cent. stock, hare been udded to
the public debt ofshe United S,ates since the
close of the year 1857, raising the present total
to 5000, 900. TO opr people this may appear
a lurgc sum, aud BY Aatae comparison it IL 81:
because our Government, in its briet history If
seventy Que yt ura, hos been at least once who'll
u fred from debt, and at two othtr periods
tlearlv 60. Bur when we come to institute .
fortian comparison, it will be found thut neither
our debt pur expenditure is ything in amount
to be ushnmed of, or anything in its nuture 10
Indicate an alarnaing Or formidable degree Of ~.
truth, add thut there is nothing Of corruption iii
their administration, we can nt least claim that
there is little difficulty encountered in it's expo
sure, u there ought 10 be nune in its sumtntry
correction.
We need not 60. at present, beyond our cou-
sins over the water flr . fair 5tandszd Of con
trast on both points referred TO- To sag notl..
ing Of the public debt Of Great Dritain, coin
parei with which our debt is wholly inaign:f.
cant, the e1:ises which that Government in
poses upon the people, and the cast, which
she 1eyies upon tut consumers OF fortj jgn fabrics,
stand in the relation of nbout three hundred
millions 10 sixty millions annually collected by
thr Gorernment of the United States. True,
our n-pura,e :, ,ateE imr3se q considerable mca
sure Of taxation, :,ut even with their expenses
Of government added, tho sum total annually
imposed for the support Of government here is
not one:thira III" cost Of tue government Of
GreRt Britain: aud this for the Brrport Of
th,rts three 5tat= eoEereignties and great con-
federated Power, equal tn thut Of Great britain
Britain in population, and superior to il in tho
uctive commerce or carrying trade Of the world.
We are not disposed to ignore the fact that
England is burdcued with a National Debt o!
fur Thousand millions Of tlcilars, Or eight hun
dred and tro millions sterling, the yearly in~
tcrcnt or ,nAinteuance Of which absorbs fw3n-
tycight Of the sixty three millions sterling an-
uuu1 expenditure But "a the principal OF this
is not dtnn;.hed, but has rather been increas-
ed in the last decade, We hold tLis interest
to be a permanent charge upnn the Govern
nnent, involving the continual necessity of im-
posing stamp income aud other personal taxes,
to tue extent of nearly or quite one hundred
millions ear, or twenty millions sterling, in
addition 10 over forty mi!iioua sterling in Gus.
toms aud excise. Nor hare the general ez.
penses Of that Government attained thei,
maximum, anY more than ours We complain
That While, ten Yesrs ago. Mr. Fillmore eo1
nloug with forty-three millions year, Mr.
Pierce managed to spend sixty -four millions
leaving budget nf seventy one millions for tht
frat year Of his unhuppy successor, Ms. Bach
anap, who has since been unable to bring hil
hoped that for the fiscal year 1860, which close
ia a few days Dune 30). the sum total mar fal
below that sum. Yet England has gone aheas
in the game ten years, increasing the anuua
cost Of lcr Government from fifty millions ster
ling 10 SIXTY three millions, adding pounds ster
ling to her budget for every dollar in Fedora
uouey which We hare aaded 70 ours. Reduc
ing the whole 10 our currency, the co1npariso
glands as follows:
o,e.t r'r,ta,n In s:si.,:.a
ts.; 9s:;? ''si" III u y ID! 5s$s @ ss:s:$
UEind States III lasa.- a3,s:l0o 6sA&ot
The highest intermediate points Of yearly cs
peudture betwee1 these duties, we're, in EnG
land. in 1855, pending the Russian war, vhe
States. 165--5s, when our total reached III
y01 900. being the first fiscal year of 1r, h,
cherap's Administration, closing June 90, lSi
That our Public Debt, which fell to TT, ,oo0. OF
at tho close of 1857, has since gone up to fG5
100000 in 1850, is due. AZ We explained befor
to the diminished customs revenue Of the Gu
crnment. which We may es well now add, fro
ss3,s75 600 in 1857, fell to Il, $4,000 in 1856
nnd had ouly recovered 10 81, ,565 900 in 1s5
wlite the appropriations Of Congress demandt
during these three years an expenditure
s6ss5S MOO in 1887, e:l, ,eo1 900 ii 1855, Al
es6,34G, 900 in 1853.
The foregoing remarks and comparative &
ures ore rot detigned 10 encourage or JUST
extravaganza in expenditure or the creation
public debt at home. We should heartily !
joice 10 see the ore hrought within fifty or lift
a. i've miilioss year, as it ought to be, not Oh
on considerations Of economy but to save
necessity for frequent changes in cur reven
Or tAr'n nsstem. und to have the heriquidat
altogether. But VIC told it due to our own E
pertinent Of popular government That 4
re'ative position Of tho United Stn,es to 9th
great Powers II reference TO debt aud tax
tion should not be misapprehended.-N.
1fs1lnk,