New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1860-01-06
.rx,r, s .is aos June next, and sM aesrs sessssv
~ Cvwcss 10 srssnd ns loo ~ nat psTsss for assAsr


from year to year, which Mr.. Cobb bids Congress
renew for another year as quietly as he would ask
a light for his cigar. He may have it done as
iaunty as he asks it; but we shall believe 1t when
we must.
Mr.. Cobb, by renewing this debt and paying
nothing on the principal of the funded debt expects
10 have balance in the Treasury on the 3Oth OF
June next of S1438l, 1903, and thinks this may be
increased, on the 30th of June, 1851 to SlS,o9l,-
$40. He estimates the Expenditures Of the cur
rent fiscal year at S6 OO2 1872, those of the ensuing
year at $50, ia, 1923, and says:
at wiz be seen that there viii be necessity TO provide adj
dona means io inc nd M nd Sv ConSr
do not ezessd the sinafd for BY the Department."
As this proyiso exemplifes very common
dodge of tricky nanciers, We propose to dissect it;
There is o claim of Five or Six Millions from
Oregon for the cost of suppressing Indian hosttes
in the Winter of 1855. We do not say that 1t
is lust claim-we believe there is good deal OF
extortion and swindle in it-still, it is based on
services actually performed private property I'M
questionably taken for high public use and the bill
must somehow be settled and paid. 1t il burning
shame that Congress has not acted de6nitiyey upon
il ere this But let this be done, and Congress
stands charged with swelling the Expenditures be-
yond the Treasury estimates.
Mr.. McLanes Mexican Treaty is already before
the Senate, proposing to take 4OOOOoo out OF the
Treasury and hand it over to the Government OF
,Juarez and the claimants of damages from Mexi-
cans who are expected to supply the motive power
for getting this Treaty through the Senate. Sup
pose it carried and the $4,000, 900 paid, Mr. Cold
will have another chance to complain that the Ex-
.penditures are swelled in defiance OF his estimates
But this "a 900, 600 is but an enteriDg-wedge
The Treaty will not be worth rush unless backed
nm by an armed Intervention. The hand oil Jua-
rez is indeed affixed to the Treaty; but we must
simply the arm that alone give to that hand any
ypor Mr. Buchanan's Message evidently contem-
plates and recommends an armed invasion of Mex
leo in the interest of Juarez, and looks to muster
of volunteers to that end. Let us once enter upon
that Job, and Fifty Millions will not see US through
it. And Mr.. Cobb will say in his next Report;
ITO be sure, the Treasury is out at the elbows;
" butthat is because Congress made appropriations
"i in excess Of my estimates"
Then there is Cuba, with the Presidents recon-
mendation that money be appropriated and placed
at bis disposal wherewith to acquire it, and Mr..
Slidelrs bill making the figure (frst billy $780,
100000. Suppose Congress to do what the
President asks and Mr.. Slidell hopes, we are Of
course at the bottom-yes, through the bottom
of the Treasury at once. But Mr.. Cobb will
readily say, " This was not my work. Had you
only kept within my estimates, all would have
6" been we'll"
We need not multiply these Illustrations. The
Court of Claims is always investigating claims
against the Government and from time to time
adjudges that such and such sums must be paid.
Congress, finding the facts to be as stated, ought
forthwith to appropriate the money requisite, and
provide for the payment of these claims. But hold
says Mr.. Cobb; 4" / haven't estimated for the pay
ment of those claims. If Congress provides for
sit notwithstanding, must not be held responsi'
bic for the consequent structure on the chest Of
" the Treasury"
1t is disgraceful fact that the present Admins
traton, having run the Government heavily into
debt during the first year Of its existence, should
have never lifted finger to pay of any part OF this
money Even their Twenty Millions of Treasury
Notes, they propose to leave unpaid aud unprovded
for. If We should ever have legally constituted
Congress, we trust a new leaf will be turned over,
and paying off substituted for mourning debt.
MIR. Cobb habitually COMPOUNDS his payments OF
interest on the existing Public Debt with payments
ofprincipal. Thus he reports payments during the
last fiscal year of S17 ,4O52s5 (mainly BY redeem
ing Treasury Notes at the Custom-Houses though
they were Immediately reissued). Hejumble' prin-
cpal and interest together, so that his Report is
sinQularly obscure with regard to the current An
nual Expenditures The accruing interest on the
Public Debt is part of the regular expenses OF
the Government-as much current expenditure
as manning National vessels or carrying the Mails.
Payments Of principal quite anothermatter even
though they are but paying with one hand to bor-
row with another, as in the redemption and reissue
of Treasury Notes. The Report should have
shown just what has been paid for interest and
what by way of reduction or Transformation OF the
principal of the Debt. Failing in this, it deceves
and misleads.
II ever proposition was self-evident, the evil
tendency of such fnancerng and such juggling eX-
hbits is palpable. The Federal Government during
each year of peace and prosperity like the last,
ought to reduce its Public Debt at least Ten Mil
lions, 80 long as there shall remain any debt to re-
duce. That it pays nothing, but rather increases
its obligations is primarily its own fault; but is it
not the fault of Congress as well
THE sPEAKRRsHIP.
Gave TIE ET0rfss