New-York daily tribune., 1861-06-21
THE FINANCES.

preaching Extra session 10 10 raise tpo why's
and means for vigorous and energetic prosecu-
ton Of the War for the Union. To this end, four
courses are suggested, ono or more Of which
must be taken, namely;
1. Impose Direct Tares.-we object 10 this,
not merely because Of the depressed condition of
Industry and Business. but because tho colec.
ton of such taxes would necessarily be restricted
to tho loyal States. It would be most unjust to
saddle upon those who stand BY and uphold the
Union the whole cost Of its maintenance. The
wauton disturbers Of the National peace should in
no wise DO exempted from bearing their full
share of the burdens which their treason has
imposed on the Nation. If this be 90. then Di-
reot Taxation in this emergency is not to b.
thought o..
III. Confsoation. would be more
righteous than to take the property OF the
rebels, 80 fast and so far as it may fall into the
hands Of the Federal authorities, and convert it
to tho uses Of the Nation. They have wickedly
caused an enormous loss aud waste of property
az well as' lfe and the loss should be made
to fall, 80 far as practicable, on its authors. II
the total cost and waste Of this rebellion should
(sa it probably willy reach Ono Thousand Nil.
lions of Dollars the larger part Of it should fall
upon the rebels, and especially on the wealthy
and aspiring. who. knowing better. have brought
this great trouble on the country. But, as this
could not be relied on as present resource, and
may not be deemed expedient, We dismiss 1t
from consideration here.
Ill hheung the Tariff" We must modify
I" the Tariff in order to increase the Revenne,
it is SAID. IL this means that we must tax artl-
ces bow free aud increase the duties on articles
now lightly burdeDed, We assent. Two cents
per pound on Sugar (instead Of s,hs OF cent,
five cents on Coffee aud ten on Tea, would add
from Twenty to Fifty Millions to the Revenue
annual, say Twenty to Thirty Millions during
the War, and Fifty Millions the year after Peace.
which will doubtless be year Of great CONNER
cal activity. 1t may be deemed best-but not
by us-to subject the present Free List to
general impost of ten to twenty per cent.
But those who urge modification of the Tariff
in order to increase tho Revenue generally, mean
to have the duties nov imposed on Wooden aud
other Textile Fabrics Iron, Steel and Hardware,
reduced TO that end and this We most decidedly
object to. The present duties Of thirty to forty
per cent. on Silks aud Wines are not ut all high,
considering that these articles are luXurles maln!y
used by the well.o6, and that these duties aid
the development of Slkweaving aud Wine max
ing among us. There is no room for pretense
lha, reducing the duties on Silks aud Wines
would ncrease the Revenue; wherefore those du-
ties should stand.
The duties on Cotton and Wooden Fabrics,
Iron, Steel, and their products, range from
twenty to forty per cent, and are undoubtedly
Protective. That more Revenue might be OBJ
tanned from these articles BY reducing those duties,
We do not doubt but it by no means follows
that the Treasury would profit BY such reduc.
ton. On the contrary we hold that, BY depressing
and deranging our Homo Industry aud depryiDg
hundreds Of thousands of ability to buy imported
goods whereof they arc now largo consumers,
the aggregate of Revenue would bo diminished,
not incw.sed, by such reduction. Iron would
nav more. but our Iron. makers and workers would
be driven from their furnaces, foundcries, and
shops, and divested Of the ability to consume
literally Of imported comforts and luxuries, 70
that the Revenue would in the long run lose
more than it would gain by such modification.
Thrice ut least have We seen Protective
Tariffs enacted under q perfect storm of woeiu
predictions that Commerce would be ruined,
ard the Revenue from Customs dried up thereby.
Whoever will turn over the files Of TIE Ertn'ng
Post or Jomrnai Of Commerce for lo25 or l642.
N l. Il nffb d.pf and
doleful prophecies. - The Black Tariff was
certain 70 destroy our foreign commerce. and
thus extinguish our principal reliance for
Revenue A short experience served to explode
these predictions Commerce was stesdied. not
destroyed, by Protection; the Revenue directly
began to increase moderately but stead y; and
soon the very false prophets VINO had been Ia-
menting that tho Revenue must now be ruined.
actually attacked that same Tariff for yielding
too much And the fact that tho Treasury VAS
oysrfowing formed about tho best reason that
could be offered for reducing in 80 tho Tariff of
70. And tbis reduction, though made BY .
Democratic Congress, with the full concurrence
of thu Free Traders, did not prevent South
Cardinals plungiug into the gulf of Nulbfcation
in 1928.
We protest against any reduction Of the du.
ties now levied On Iron and Steel with the va.
rious manufactures thereof, or upon Cotton and
Wooden Fabrics These duties are among the
most potent causes Of our present heathful state
Of foreign exchanges. whereby 10 the midst Of
our gigantic, expensive preparations for great
War We arc actually drawing coin in large
amounts from Europe-not borrowing it. but
nayinp for IT, Revere this current and our