New-York daily tribune., 1861-08-28

ov.1a
Ion, and on fermeDed lquore OF bJ Jceuts O..
general tax upon incomes, the ree o. wni ., H.
as the incomes liable is not yet dec'oed. noa."hle
the Morrill, tariff is untouched except y! S.e rlPos
ton OF additional duties Every tea IN TINS BUDGET
tuppesls financial war difficult, not az eahgmn
srv az the war in the open field. Our own great war
was period Of smuggling by sea ana ~ lano. an
army oil Exci,emen, feet Of revenue cutters ana
coatpuard tat nightly watched and paoed tho whole
of our shores were necessary TO protect TIE revenue
without which the must have come TO an end IL
cannot be otherwise in the Northern statesi OF
She Southern we speak not but we shall
soou hear the same story there. The United
States contain the same eoGal elements a. those
which in this country have ever evaded taxation
when il was possible. The morality Of the taxpayer
soon relaxes when his political feelings conspire
with hs pecuDisry interests andhis conscience throbsn
his pocket Already we are told that the Western
States have certain plausible obiecons to taxos and
majority of the bankers at NewYors are altogether
averse to the war and its causes. All tbe pryate H.
tcEgence that reaches agrees in describing that war
the result OF mob passions ana tho rea, act OF men
who have comparatively little intrest in the mainte
nance Of union, order, national creoit or properly
ITSELF When euch Is tue casc they who have incomes,
who spend and who employ. will feel small enthusl-
asm for the war a ON the other hand they who enter
into heart and soul will be generally nen Of less
means, lower social position, and-need we add-a
axcr tone Of morality. What sort Of prospcct 10 thls
for succession Of war budgets like ours from l'95o
1slJ each moro colossal, exhaustive, more RUN,
ous than the last Washington has already learned
the secret OF some OF our own uluTy ItNSIetbi IL N
now learn to sympathize with our war finance.
But there ia another question which presents itel
TO the capaie before even tho solvepcy OF State or
The yield Of tax, the final euceess of cause and
that is the number and frequency Of similar calls. ii
we are to Judge from the immense figures on paper
psraded by the Northerners thie IL a war that may
take rank with any Of ours-witb the European war
which cost from fret 70 last more than Thousand
millions Of money, or the Russian War, which cost
us hundred millions in two yesrs. IL the Govern;
ment Of Washington is obliged 10 ask for hundred
million dollars to-day, when and how soon "li Il
have 10 repeat that deuandi and how insny eucn
demands will II have 20 make THE yea ano Tor now
many y,srsi Every such demand will compete in Tue
market with The Bcnds Of the last, and our old folks
can remember with what celeriIy prdnlfe 10 pay
&5 wear became worth not 30 much as 3oV Pfu-
deat reople do not like buying stock at ITS present
price when they know that twenty or thirty millions
more will soon he thrown On the market ior what II
will fetch. Nor e tits the only apprehension TO damp
the courage Of the erder. Already, while this war is
stil in It's very cradle the Baukero Of the seaboard
States are suggesting, in the form Of Treasury Bonds,
a vary large increase Of the paper currency. How
long would this be convertible We may safely pre-
dict tia, il the wm lasts long il now threatens
to last both sides win be driven to the came pitiabc
expedient Of deprecated paper currency as the
inotbsr country was in similar extremity. They
have au encouragement which we bad not
source Of credit which We had not. They know
what we nevcc knew-that We could survive the
process and p9y crcditor in full. in our
history their huauens posses' 10th warning and an
encouragement for If they zee the Slough of Deepond
tey Gee ais ow Christian got out Of IT, aud scrambled
sa;o IN the bank on the other side. Thee are com
mercl c01siderouB the soundEesS Of which i is iu
possible - question, and which address themselves
,aturalv 20 the Federal and Confederate Government
Their Concresses their fnanciers, and the public
whether Americans Eur0peaDs, Who are solicited 10
lend money for the war; They are Of eoqrse exciu
siye Of political parisan feelings No doubts there
are enthusiasts IL The United States who will lend
money and buy Treasury bonds for three OF ten yearo
all the more freely because they feel deeply the social
and religious asrects Of the quarrel There may too,
for augbt VIC know, be Abclilonists and phlinn-
tbrorsta In Ills country who Will buy American notes
In falling market and prefer TO give good price for
them rather than bad one, because they care more
for The credit Of the Federal cause than they GO for
the amount Of their own fortune. We cannot think
however there are 90 many sncb people as largely 10
affect the quotation of American securities u our mar
ket. England almost unanimous In ne zeal
against tie disturbers of European order and inde-
rendence No war assumed 80 sacred aud pstri-
otic character. Indeed had ST. Psnls been the Holy
Sepulcher ITSELF we could not have made moro re-
on Of IT, This did not ITeyest eur @ RgShc sesTrs
yerv low one. The whole story will DO repeated in |
the States-that s uule,s they patch up their differ
ences before long, which they don't seem likely 10 do.
TIE COTTON SUPPLY.
From The London Eetos, Asg. 10.
The great question OF the supply OF cotton is steadily
eeauidnp the important dimensions which VIC have
rrepared our readers to look for There Ia abund
npce of facts and figures hand which may be useiuy
passeG under review, especially now that the defeat
Of tho Federal army las occasioncd more serious
appreciation Of tie probable duration oi the national
atpple in America. We invite attention 10 the state
of branch Of trade which import, f3OOOO,OOO, or
g35 600 600 of produce annually, exports f35,-
600 900 Of manufactures annually, furnishes subSs.
ence 10 four niloGs OF persons IN ths country aud
contributes largely Il any other to The national
profits During the past week, owing to the
result Of the battle in America, there has been
a renewal OF excitement in tbe Liverpool cotton
market and freeh advance iu pTicee. An idea
of the impor ance Of the movements which have
occurred In the market since the American troubles
arose may be gathered from the fact that, as com
Jared with this date last year. the price OF middliDS
American cotton is now fully 40 per cert dearer and
fair fully 80 per cent dearer while the rise in East
India descriptions exceeds 3D. per 10. This latter
rise ie equivalent less than IS per cent. TIE
general public have no conception of the anxiety,
embarrassment and inconvenience which this re-
MAJ liable movement in prices, combined With the |
prospect Of its further development has inflicted upon
our greatest manufacturing interest. Each new phase
in American polties Ia watched wifi even painful
earnestness, while the statstics Of consumption and
prodIetion-parculary the production in other parts
Of the world than Amerca-are scanned more cOsely
than ever. Which way speculation tends IL shown
not ony by the rise IN the price OF cotton but, viii
erual force by the fact that although the cousump
lion Of the article this year bias up to the present date
been below that Of 1860 by about 1900 bale per week.
speclators have taken out Of the Liverpool market
400 900 bales than last year. When we recol-
ect that the money value Of the 900 bales may
be put al between tree and four millions sterling-all
~ c1cesS Of Last yeara movemsntSwe gain an idea OF
the activity and extent Of cotton speculation IL intl-
Gates that although cotton suth0rie9 perhaps
ss fable rs the rest Of us, particularly asal their
calculations dependent upon the course Of politics
the opinion OF the best sOudest, aud most practical
persone in this country points 10 very disturbed state
Of the Gotten trade in the future. Hitherto, observes
an eminent Manchester authority, ibe consumers OF