Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1861-06-26
The EinHncea.

The New York Tribune says four courses have
been suggested to raise the ways and means nee
essary for vigorous and energetic prosecution of
the war for the Union, one or more of which, in
its opinion, must be taken.
1t opposes first, the imposition of direct tarss,
not only account of the depressed condition
of industry and business, but because the burden
in such case would fall entirely upon the loyal
States. This plan, it says, is not to be thought
of. for those who have disturbed the national
peace should not be relieved from bearing their
full share of the burdens which will be entailed
upon the country by their acts
The Tribune favors eonfscation, and declares
it would be righteous to take the property Of the
Rebels (including negro slaves. we suppose.) so
fast and so far as it may fall into the hands of
the Federal authorities and convert it to the uses
of the nation 1t estimates that the to tai cost and
waste of the rebellion will reach One thousand
Millions of dollars, the principal part of which
should fall upon the leaders, but confscation
can not be relied upon as present resource, and
as it may not be deemed expedient, that scheme
is dismissed. The Tribune opposes altering the
tariff to increase the revenue, unless it be to tax
articles now Free and increase the duties arti-
cles now lightly burdened. 1t estimates that two
cents per pound ON sugar, (instead of three
fourths of cent? five cents on coffee and ten on
tea would add from Twenty to Fifty millions an
nually; say Twenty to Thirty Millions during the
war, and Fifty Millions the year after peace, which
it anticipates will be year of great commercial
activity. But 1t opposes most strenuously any
modification of the protective features of the Nor
rilI tarff-any reduction of the duties now levied
on iron and steel, with the various manufactures
thereof, or upon cotton and wooden fabrics.
Loans the Tribune falls back upon as the main
resource to obtain the means to carry on the war
1t sees other way to fasten a big debt upon the
country, like the national debt of England, which
will long remiin an incubus upon the industry and
energy Of the nation. We are not of those who
believe large public debt is public blessing
States are like individuals, and the same con
other. Indebtedness weighs heavily upon the
energies and prosperity of individuals, it eats like
a canker. This is common experience. And we
see no reason why a similar cause should not
have like influence upon aggregations of indi-
viduals "a body polite. We give in full the
arguments and considerations of the Tribune, as
leading Republican organ and the representa-
tive of Republican policy, in favor of resort to
loans to sustain the Government through its pres
ent crisis and the modes it suggests of borrowing
the money:
We shall have to borrow money in some shape,
and good deal of it. The practical question is,
in what form can the requisit amount be obtained
on the most favorable terms? A large issue OF
treasury notes has been urged in some quarters,
and we think well of that resort, prouided those
notes can be easily and steadily kept at par. II
not, We are opposed to them.
As to borrowing in Europe-which is urged
| from other quarters-we are utterly opposed to
it. We want no foreign aid in this contest,
whether in men or money; II The Unionisfs are
not toe strong for the traitors, let us be beaten
| Why should we borrow abroad when the balance
of trade is in our favor, our banks glutted with
gold, and money enough seeking safe and adj
vantageous investment to pay the cost of even SC
great war as this? No; let us owe our public
debt to our own citizens and not be required to
paw additional millions ofinterest annually abroad
| We still hold that appeal to the great body
of the people, offering them treasury notes al
eight to ten per cent interest, convertible after
two years at the pleasure of the Government with
= five per cent loan, would draw out many mil
lions of specie that would otherwise lie dormunt
and add immensely to the resources of the Gov
eminent and the volume of the currency. We
believe that such a loan, wisely managed, would
yield all that is needed for months. especially il
the loyal press shall generally elucidate and com
mend it. But let US have the best possible plar
devised and perfected prior to the assembling Of
Congress, that the work Of the session may be
finished with the least possible delay.