The spirit of democracy. [volume] (Woodsfield, Ohio) 1844-1994, 1862-02-12
The Finances---Ireasury Notes
-Espenditures-- Things Ahead Tar
ation--Tar Gatherers

Editorial Correspondence of N. Y. Express. ]
A your readers must be more interest
ed ia the Finances of The Government,
than in anything else. continue to keep
yen informed. Facts ate not pleasant,
but nevert heless ought to be known.
The Government debt has been run
ming mp the pas: week about two aud
half millions per day.
The Treasury notes have osen issued
about half @ million, or six hundred
thousand dollars per day-the workmen
upon them working as fast as the plates
can be worked; consequently the contract
ors NEST be behind hand in their pay
about two miilious per day
1t is not to be supposed, therefore. that
being paid in depreciating paper, and
waiting long time for that, their con-
tracts will be as profitable as at first pre-
sumed.
begin now to pity the contractors,
even such as feeced Cameron, not only of
his wool but his skin
When tae contractors go into market
and sell their certificates of debt, they
will be shorn fully 90 per cent. upon their
great expectations
But can the Government credit stand
this long-all this? Will not the Gov
ernment soon be compelled to pay 20 per
cent. more than other people pay? I
think so--unless taxation, funding, &c,
are soon, very soon started.
There is nothing. however, doing to-
ward the funding of the debt properly.
The ways and Means" are only act
ing Of not upon, that. The art and sci
encs of debt funding is like that of taxa
tion, the very highest round Of science in
Political Economy. | do not think this
science is much studied in Washington,
as yet.
Everybody says about every thing must
be taxed, and everybody is devising aGd
schemlng upon objects of taxation, ex-
eept the man of power. in Congress or
in the Treasury. The stamp tax beyond
all question, will be revived, as in l776,
but it will be more popular now. All
deads, mortgages, trusts, checks, bills, re-
ceipts, sales, &C., &c, will be taxed by
stamped paper All the manufacturing
estab ishments will be more or less taxed.
cotton prints, which it is sup.
posed will yield larg ly. lager beer.
whisky, domestic wines, &C., all,wi!l be-
taxed all the Office seekers to make
ready: the treasury will want 81. 600 tux
gatherers by September next, aud there
will be an Office for everybody belonging
to the party, The States cannot well col
lect the domestic taxes, as no definite
quantity or quota can be assigned to any
particular State.
Washington continues to be thronged
by bankers, brokers. political economists,
statesmen, cur:ency.mongers. &c. All
have their schemes, contriv ances, idesii
ties, sc. The Secretary of the Treasury
aud the Ways and Means Committee meu
Are advised, readvlsed. &C.. aud. if their
heads are not turned by advice, it must be
because they do not keep the advice there
long. One idea with them, knocked out,
gives place to another. sAt
But there is nothing new on tinauce or
taxation; nothing oui talk. The $780,
100000 uete bill will 60 through, per-
haps. with 'the paper legal tender" an.
nexed; but this doubt. There will be.
however, no adsqaate system of funding
accompanying these Treasury notes, as
here should be. to match with it. q, saa.gl
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