The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1861-03-31

Tbe FtpancNol Position OF the 0OV0rn-
msns-The Real Dimculty ut wash
ssgsOn.
The predominant power just now ct Washing-
ton is Wall street The question Of money Is
one that this government as vol ~ all others
must look squarely in the face. Money has been
xptly defined as the sinews of war, and it Is
very certain that the Lincoln administration is
now bound hand and foot by this ugly spectre
which has ruined SO many splendid schemes
and thwarted 30 many magnificent ideas of
brilliant theoretical statesmen. 1t Is all very
well for the radical republicans to demand that
the principles of Garrison, Phillips d Co.
shall be carried into effect without regard
to the cost and 1t doubtless sounds well to
Southern ears when Mr.. Memminger offers
to borrow fifteen millions for the purpose
Of putting the Confederate States upon a war
footing. But the question for the people of the
North and South to settle is. whether or not
they will impoverish themselves in going to
war upon an abstract question which cannot
be settle d by the sword. As it appears to us,
at Mentgomery-are equally powerless.
Davis d Co. have, however, the advantage
over Lincoln a. Co. The government of the
Southern cohfederacy is plucky and clever in
its personnel. The Lincoln administration is
cowardly mean and vicious, without the power
to carry out its designs. So far from being in
a condition to make war-the most expensive
luxury wherewith government can indulge
itself-the administration has not sufficient
money for the ordinary expenses of the
departments. Mr. Dix borrowed eight millions
at twslYe per cent. Mr.. Chase wAnts eight mil
lions more, and will probably get it from the
brokers, who have done well with the Dix loan.
In a very short time Mr.. Chase will be obliged
to call for nine millions and then our national
debt will reach the disagreeable figure of one
hundred millions of dollars.
In the event of war this debt would be very
much increased. One item will indicate how
much. The last Congress authorized the build
ing Of six steam sloops-of-war. To construct,
equip and keep this feet in commission during
twelve months would cost three millions of
dollars. In the event of war the revenues of
the government would be entirely cut off, and
the expenses increased from seventy to one
hundred millions per annum; time would
arrive when loans could not be effected, and
direct taxation would be resorted to. This,
with the burden Of State and city debt, added
to the general suspension of business and pros
tration of all industrial interests. would soon
reduce the republic to q condition of anarchy
and distress heretofore unparalleled In the his
tory of the civilized world. In the South,
where the population is comparatively thin.
and where few people live "from hand to
mouth, things would be easier, but not much
Laying an export duty on cotton was mea-
sure Of dire necessity, and must be only tempo
rary Otherwise the impost will be evaded in
hundred ways. And the stern fact of the
case is that the men in power in both sections
of the country are altogether unequal to the
emergency they have brought us into. And,
Notwithstanding all this, they have the sublime
impudence to ask us for money with which to
perpetuate their odious policy. The Cabinet
at Washington plays with the gravest questions
One day they intend to reinforce Sumter and
Pickens; the next they purpose to withdraw
the troops. What they really intend to do
order to obtain money. We verify believe
that if Lincoln 4 Co. had a handsome surplus
in the treasury they would Immediately preci-
plate the country into civil war. Now the
only way to prevent such a calamity is to re-
fuse the supplies. The government should be
made to understand that unless it openly de-
clares in favor Of peace policy the people
will not loan it dollar. There is double
reason for reticence. First, to avoid war, and
second, because in the event of bankruptcy
the United States bondholders would have no
security for their money. The public lands
have been given away by the Homestead and
railway grant bills, and the public property
would be at the mercy Of the strongest hand.
1t is the duty of statesmen to look forward.
Progress is the rule everywhere except in this
country. Here our public men retrograde, and
this country, once Power in Christendom, is
now an object of ridicule and contempt. "Poor,
efreie old Spain" sneers at us, and even Peru
insults us with impunity. Our flag is no longer
a symbol of strength il is the ensign of mbe-
Giles, outlaws and fanatics. And now we say
again that the only way TO bring the politicians
to their senses is to stop the supplies. With
draw the troops from the Southern forts, send
the naval vessels to the coast of Africa or any
where else, disarm the Southern militia, vacate
the commissions of the generals, colonies and
what not-in fact, put everything on peace
footng-and then we can negotiate either for
the reconstruction Of the Union-a result which
is not altogether out of the question-or the
recognition of two confederacies, never to turn
their arms against each other, but always ready
to resist the interference Of European Powers
upon this continent. That is the platform for
all men of common sense, and in six months
great party might be built upon it, In the
meantime stop the supplies.
FRANCE AND RUssIA-It is we'll known that