The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1862-11-08

THE FINANCIAL PRosPEcT.-Some of the
democratic orators and presses, in order TO
prove the administration failure, are exag-
gerating the financial difficulties of the gov
ernment. Such efforts tend to promote the
very evils they pretend to deprecate. Mr..
Forney whites to the Philadelphia Press some
counteracting statements -
"The financial future Of the government is
singularly cheering. No subject has been used
with more deleterious effect against the admin
istration than that of taxation, except, indeed.
the dimensions of the national war debt. The
secretary OF the treasury has been forced to
submit in silence to the misrepresentation of
the adversaries of tn, war, and experienced
observers have seen with pain the success of
these Misrepresentation. If the rebellion was
a novelty, all the expedents believed to be es-
sential TO its extinction were experiments.
We could not stand by and see the rebellion
progress without resorting TO the severest al
ternatives for its humiliation. And now that
the period is at hand, when this great revolt
against human freedom is to be checked and
closed out, we may also anticipate in practi-
cal results, satisfactory solution of that great
financial experiment which has disturbed the
wisest and most experienced statesmen in this
and other countries. The time has indeed not
dillNtu. WHeu lllc III uilS Ol lut revenue meas
ures of Congress may be accurately set FORTH
Enough is known, however, to enable careful
observers to state that the tax bill, Judging
from the reports already received at the treas
ury. will produce an. almost ncalcuable rev.
enue-a revenue sufficient to pay the interest
on the public debt itself, and to leave a large
margin Tor the necessary expenses of the gov
ernment as long as the war continues.
One very competent authority states that
the Ia
exceed by at least fifty per cent the amount
contemplated by sanguine trainers of the BILL
1t is true that much alarm has been created
by the late extravagant premiums on gold and
by the consequent depreciation of the national
currency: but if the expectations of the head
of the treasure board, upon results already as
certained, are only partially fulfilled, this a
larm will be speedily and happily dissipated.
One fact must not be forgotten, that while
labor must, for short time, submit to the loss
occasioned by deprecated currency, and
hence to the imitation of the prices of many of
the necessaries of lile there will be little of
direct taxation upon labor, and the capital
must bear the immediate burdens of the war;
Why should not those who work at home be
as free to suffer for their country as those who
night for us in the Southern States? The in
nux ol money into the treasury in the shape of
taxes upon luXuries salaries remuneratiye
real estates, bonds, checks, and all descriptions
oil bills, leaving small farmers and operatives
almost entirely unscathed, indicates a wonder
ful revenue. An intelligent assessor in the
city of New York says that from all these
sources in that metropolis and Brooklyn
alone, net revenue of one hundred millions
VIII be secured. And if this is so OF single
LOCALITY, what may we not expect from the
country at large? i oppose these healthy and
cheerful facts to that traitorous dsaffection
which, while refusing to denounce the rebel
lion, busies itself in deceiving the free people
OF the free States, and in weakening our pub
lie servants at the head of the administration
and the federal government.