New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1862-02-07
XXXVIITH CONGRESS.
FIRST SESSION.

Mr. HOWARD iRep, Mich.) presented resolutions
from the Legislature of Michigan, asking grant OF
hands to eu0oa Military school. go.
Mr. KING REP, " y presented several petitions
sailing maj $780, 90 copies OF he Agricultural Report
be prSn,ed in The German language.
Mr. KING also presented several petitions for the
emancipation o. the slaves.
MIR CHANDLER Rep, Mich. presented me-
s,olial from tie merchants OF New-IoIk that tue
salary sud fees and pei quises OF the Naval Oflcer
and Surveyor OF The Port might be reduced.
Mr.. CAkLILE Union, VA presented petition
numerounly si-red by citizens OF Boston, Macs, ass
ing COugres TO leave the negro que ton alone, ana
aileld 10 the business OF the country.
Mr.. HARRIS rep, y. " presented pehuonss
sgsnst the sale of liquor to officers and soldiers u
the army. -,
MIR. HARRIS also presented petition to repeal
she Reciprocity treaty between CANADA ana 'no
United States. ,;u q,
Mr.. GRIMES Rep, Iowal introduced oill 10
allow the Corporation Of Washington 10 i'SD' '"'''
notes. Referred. ,. r. "A;
eers of the army was taken up. ~ ILL.,,
Mr. SIBERIAN Rep ObO) said that, although
d. favor OF bill, yet It d!d no5 go iaf enough.
IA NOT rea n the Iesred p0lnt. TIE great problem
a, tois war il nos physical hut financial one One
wear ago the President erept into tie Capital IN Gls-
cute Five hundred &c elmined men couic then
have taken the Calial ard all tie 9rcmves end TINS
Cartal might have been tie Manassas of the rebel
kon. Then we were weak physig-iiy, but we had
scarcely any debt. Now the condition of things Is
changed. aud we are strong physically, out weak
financially, and the question must be met how we
are TO carry or the financial measures OF The Gov
eminent. The delay in military moveme IS for the
last three mont S inmy Judgment, has created imam
rial diff tulties ich 1t Will be hard 10 surmcnnt
d. not knOV the reasons for delay. lhey may De
Jusiifa lie. but whoever may have been the cause
tbiuk will have glievOg' account 10 settle WIN DIE
country men. ] DO rot blame any one. We have
also been delaying While we have eat here the credit
of the country has been Impaired and we nave taken
no steps TO maintsin the crecl o, the poNe4hMeh';
The Secreary OF tie Treasury, IN hs recent Annual
Reoort states that for tine first quarter of the cur
rent fiscal wear the receipts and tx endtures are as
certained; for the remaining three quarters they are
estimated follows For the INST quarter OF lhe
wear ending June, lSt2 the actual expenditures
were $3.50 133 90; for the second, third, aud
sonrth anarters the estimated expenditures ore
1862 OSj 6l with additional appropriations, IN TIE
nature Of deficiencies, OF slb,l5J92I, making
tofal Tor THE wear OF sob, itG, l42; and we kiOw
tha this amount viii be increased by various bills,
especia w IRON the Military Committee. The de-
feisncy since he ast session, in the War estimates
sioue is S2l 49, 49, We told also that the es-
tinated expenditure for the year eudng June 81,
1868 are or the Civil List S23 0o6,97l for the H.
terror Depsrtnent, 81 iG2, g62 for the War Depart
neut, $500, 1885; for the Navy Department,
s45l6i994: On account of the Puzzle Debt,
$500 l59 53O--makiug an aggregate of $40 81 ,245
Ib,se estimates OF the Secretary have been consid
erably enlarged BY the Committee Of Ways and
Means If tbe House; snd they 40 not include the
bounty granted to soldiers if the war should cease,
nor the lrrge sums for damages TO private property
or for properly taken Tor public use. We cannot
6oobt that the amount Of appropriations necessary
for tie next fiscal year will lot be ess than 800
100000. We are 70 much in the habit of dealing
with large sums, that we do not reflect Low
much these are in excess Of the sums
10 which we have been accustomed. But
our annual appropriations will be four times tue
entire paper currency Of The country, and Fix times
the expenditure OF any previous year Of our Govern
mem since lis founda'i0n-mOre than Great Britain
ever ~ I-.ncea "a -" "optesi 18th N"p"iA"n Whep
you udd TO these sums, the dilcdt amounts cole ced
Cor STATE equity anj CITY taNesiOr tue autbO lilies
whiih disburse Ill the internal expenditure Of the
Government, amounting TO not less than 30 600 900
we have aggregate expenditure for Que year of
EGO,OO0,OOO per snnum Tie population Of the
10y al Staes lel1ding onetlrd OF Nir Iia is about
q, 900 souls this would be an expenditure OF
Ioore than $50 Ter head The expenditure of Great
Britain is but $40 IS per bead; her expenditure
during the war with Napoleon, at The highest rate,
was but $50 per head aud no nation hes borne "A
higher rate Of taxation; that we are called upon
for sn expenditure nearly double OF that borne by
! ANY nation III ancient OF modern history. do not
make this eom! arson with view TO RESTRAIN an!
lust expenditure. / DO not make il 70 oppose HI
war foe would stake every species of property ar
che life of every In this nation upon III
prcsecutign of the war. Nor is Il TO afec
The public credit, for the public credito
10 wei Informed of the extent Of your wants.
know il is most difficult task TO oppose any apprC
priation asked FOR. If an objection Is made 10 ia
creation of a lew Office, it is regarded rather in IL
light of q narrow parsimony, or as a disposition
restrain and Grip, lie TIE Administration in its cfcr,
60 suppress the rebellion. In INV judgment ever
bill should be tested by it, effect on the tinances
We have appropriated AID spent as If we held tb
lamp of Aladdin the pure of fortunatUg, mt
nov we cOnpe led to resort TO the issue Of De
mand notes, and may be compelled 10 make q en-
legal tender In order 10 secure their circulation
7be condition OF finances has already attiacte,
the attention OF foreign powers. In recent article
In The London post, the Government organ, il il
said "tbat national bankruptcy is not an agrceab,
prospect, but II Is the only one presented by the
,stiug stale Of American huanCes. Never wac Their,
career more reckless and extravagant; never he
fore 70 prcsperous and fourishing State making
such gigantic strides toward efecing their owl
ruin" TIE L0HdOA Times has repeatedly, and II
The most bitter manner assaulted our financial system
and endeavOred III every possible way 10 prevent th
cegot alton of securities abroad. u he that
EIgish friends willing prophets of OIsaster bu
~ least could learn ON Their warniDg IS
IL may he ne ,essary for us again 10 recur TO IT,,
simre habits Of our fcreiatheis, and prosperity
psy he now checked by diversity for our own good
again repeat that the chief difficulty Of our POSI-
tiCn is financial and not physical. We must 0t once
aud without delay adopt liberal, broad financia
syst m, which will enable Nc 10 meet the large
deuancs pou the public treasury. IL my judgment
Nree propositions will embrace sl the legislation
needed 10 place the public credit upon a basis 70
yield ample revenue tor the prosecution of the war.
Flrst: The prompt levy Of tax, other than duties
mports 10 produce not less than $50 000 000 %
be levied as far as may be- upon certain luynries
other than mon persons and property. SecOnd. A
careful revision OF TIE laws regulating salaries and
conn ensaOD, and correction Of the abuses growing
OF existing laws Tor tho purchase and transport
alton Of p.opefty. Thru. rigid scruiiny OF the
disbureements OF the puphc funds, and prompt
punishnent Of every officer who either takes hun
se or permits Others 10 take, money for services or