New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1861-08-02

ere tie collection Of customs is seriously disturbed,
ard tbs 10 divert trade into those channels where it
c'n lie uuct-d for the benefit OF Northern revenue.
y these means re cal ulaes on raj ing the same ennl
IN import duties al heretofoe-viz, $3O,OOO,OO0 TO
whirh must be added 500 0CC0 from the new taxes
on tea, coffee, aud sugar. and 7,0DOOO from othef
publications If the tariff 81 0CO more are TO be
ottaoed from sals Of public land and miscellaneous
sounes The remaining s2l090,t00, required TO
conn ete tie moderate Of 5000 OOp pJopoe cd as
Tire limit Of taxation for tie current year, viii have 10
be made good by the Excise light Income lax, as
Z" the Tulonor VidOm Of CorgTess" may determine
Bar tie Secretary suggess other ways Of meeting the
dr':n Of war; Of wli:h the conscatiOn OF Secession
iss' property viii probably be the most popular, as
u prospective reductions Of Official salaries and the
reienchmts in Administrative expenses are the least
ezceJ tionsble.
We cannot follow ,Ir Chase through The various
alternatives Of national loan, loan to lie open 70
foreign capitalists, or an increased but iedeenaOie,
PAPER currency. IL requires n deeper knowledge oi
the American character than any but a native can
possess Judge between these various ways OF Dor
rowing. We quite understand the prudence OF
opening subscription for national loan 10 The
first i-siSu,.. We know how much the readiness
with which sinilar loan was taken up IN France
strenl beled hands Of is Government. Consider
Ing the imrnhnse wealth of the N,rlheID States, we
II I'D hardly have doubted that tire whole would be
ne Inted az home if hr. Chase bad not evidently lid
his count r part OF it 10 be CONTRACTED IL this corn-
try since I've provides for It's being ssned in the cr-
renoy Of Great Britain" and for The interest beng
tie pairs Which the Secretary takes make the whole
transaction agreeable 20 all pares end Mr. Gladstone
might envy the Ingenuity with which lie ntiizes the
Pos-Oices ~ tho repositories OF installments ikea
the rate of i,ierest at " I 80 per centum, be-
cause he admits of calculation by the day,
proposes that each note should have the
amount Of interest "for special periods en-
grayed on the back" and indemrif q the Govern.
mept for its genero,ity i'll Offering such lioeral
terms by depiyug tese notes Of the privilege of be;
ing re~ivabe for public dues. Il is gratifying TO find
that Mr. Cbase expressed the greatest anxiety 10 MAIN
tain the public credit If tie Union, and deprecaes any
fs al maneuyers which might shake the confidence
Of Europe in It's solvency good faith. The csuiion
is not unnecessary, and there peri q some who
will hesitate TO trust In time Of ard tor purposes
of unproduoive ihve-tmeni, Fed-reti n Of States,
several Of which, in then individual caPs,i y repud-
a'ed q debt in time Of peace AID property liz was
teen that S. dney Smith was evoked mo saying;
"Ihe Americans have cut Themselves off from all resOGr-
ces OF credit" ard predicted that they could never
draw the sword for want of the power 10 borrow
sbiIliug This belief has 30 far been alsed and so
l) as trade and manufactures flourish in the North,
tie sinews OF war will be forthcoming. But, If the
contest should prove more tedions than Mr.. Lincoln
seems to expect it cannot be aid for ou' Of revenue
out of the private CAPT al OF ole country The
aid foreign loans must then be invoked and the me-
go'iators will not al. to demand either very high ID
terCs or such security a. il will lie difficult for
Confederation Of an uncertain number of States TO
supply.