The weekly sun. (New York [N.Y.]) 1851-1869, 1862-02-08


~ legacies and probates, on passengers by rail
roads and other canvcyances, newspapers and tele-
graphic messages From these sources, taken in
cDnnectlcn with the tariff upon imports, IL Is conf
IDENTIFY expected, aAer most careful invest CATION,
that the Government will derive annual revenua
u At lees, one hundred and hny millions The or
binary expense. Of the Government do not exceed
seventy i've millions which, being deducted from
the estimated revvnue, will leave amount suili-
cient 10 pay An interest ~ six per cent upon loan
Of twelve hundred and ATTY million dolars, or near
ly three hundred million dollars more than the est
mates Of the several Departments " the amount Of
tne public debt At the end q another fiscal year IL
the state " affairs should remain the same.
This tax bill will give 20 the bonds Of the L. s.
the character M much desired by capital
lists, that u sure interest paying security.
Will such character there would be
harm done II the principal were never pad, - far
a. u ose holding The bonds are concerned, because
capitalists IN the aggregate do not care for the pay
ment Of their principal. The amount n debt " the
British Government Is 70 grea, that tie most san
gulnc political economist can devise no method by
which can he extingIisAed. but yet tie b0nds
representing that very debt are % great value.
Capital seeks them for Investment becauge the in
teress Is sure and the only reason that they are
ever be ow par is, not be, aiac the payment 81 the
principal Ia more ~ less hopeless, but because the
rates OF Interest in the market At tho time being are
higher than the rate provided fr in the bonds There
Is smother advantage attached b. this Of taxa
ton A'the surplus, after dtducting Vi ordinary
pcuseH 81 the COVE nment, Will he more than sunf-
cent 10 pay the interest upon any debts which The
United States las npU Incurred or hereafter pro-
poses g. contract, wien this rebellion shall have
heen su'dud and peace shall have once again
spread btr wings Oysr the land, the revenue will
iuCrr,sP with the prosperity Of the country and the
excess will operate as a sinking fund, ly means of
which the Whole debt can be gradually Ntugu'shej.
Having thus rs We believe, provide a wise system
Of taxation which should cnaile the government L,
borrow all the money which 1t may need, at fair
rNes, Is PROPOSED, in order TO give stl further
-i-tsace, and slsl with the object of So 'urnE much
needed reform, - reconme,d a gems "a banking
law. The views VIII Ch have boon considered In
framing that hill will serve g. give a clearer un Ter.
ing Of IT, provisions. For nearly Thirty year.
tie county, has been without a unR rn plapor
currency. A. ne ally All the business 81 the country
II d ne 10y means Of paper, specie being self mn
u7td EXCEPT IA the plymcnt 90 balances, the iucon
yenicncts resulting from this want have been very
frcat. Tie travelling puh.i,, remiters pf small
sums by mail, and the lsb.tiug classes who often
receive their pay In uncurrnt 0nis, chiefly eVpe-
Renee these iucunycnieroc-. Ia order /, relieve
tH want II Is Nee ss'ry T. give - the paper cur
r,ncy three qua ifcstiuns;
Tlr,t-lt must he well secured. Secpud-It must
have governmental endorsement Of gI,rtntee
Thirl-lt uust be guarded, as far p,isibie,
against arbitrary Increase.
Tnosc requisites have .dl been provided fr In
tho uill. Tie paper Uuuency is to be sp.3'ei by a
dcis-it, with tho government, of UnitcI states
stocks, tie market ,uc Of which -nal 10 eIud ~
TIE an, INT TO! the cuttcug, sJJot si.l the govern
mtLt, upon tie 70 ipt 4 -vcu security i. n certify
on uc ito Of the notes iur currency that the zane
7ro "secVttt ~ plCdle of United S,,toi stock, "
ard a. L. take them IN payment % AL tINes, ses,
aud othtr ducz, oN cpiluE only ior duties upon
iut..it.. IastI,, Ito government cannot in,re.e
tie amount o. the ,urrcn,s xcept upon the appl-
cation ~ bank, ,ud Tie banks cAnuDt iucfe,se II
except Upon app tyrtiD g. and dcpBItils nifty
With thc government. u h's been sugsu't,j that
ns ',r ne tie Government alone WIS interrstHi tnc
object, which tst g. ..Ii ciul he attained IA an
e..-i,t ,ul less expansive manner Ire p1uor c.r-
C'l.''i BOO iho country being il reality lp,n frum
-" p'uI I. win ~ interest, IL would be clIt ,ie
7rl .N-t q e tus sns'rnWcat should take tl..7 Dan
.Ir,ty I.t its own Do .tI, and Furnish all the pa.
Der circulation, instead 81 Al .pwilx tie benefit =
It T.. ~ waite as ,.ntiou, and .nilsiiuLs But the
,uu uitt,r do,m,d II uuIe wise T. attain their pro-
3D.. ,a srl., % possible, without disturliu. exist.
,uy .,.,tfut .us ~ 'st-, or doing anything that
MI. "a ' 3fI.u-y ,n',t private ,utere,ts. Tue cur.
rr'cy ist 'r,'"re leit = 1ne oa1ts uey arc MY
re- I"l'tl o. ".In.t se.trty fir il, Aid e. certain
..I.LeI ..r. and re. tll,t.o.,s pre,crii,ci m ths
III an .r.Ier 1. -cc.ire ..asrrui,, % management
nth, O. umuu u,i,ut u, the JNuks then sa.gea and
~ 4. u...t,
., .,,.,t..,l- ,Io., ..o,,,o,,,, ,,ri ,o,
''"' ' ,', .,''I' -. I. t,,li
h' In - iii - ~,
So - ~ T., as, r.,,,.,,. f,r =, B., ,,.,ri .t',.,s
'''' 70. -, .,''t cr 20, ~, t,,,,,.
..i' '. ~ al ,,,,',,.,., ,n,.rst .,i n th..r Nv
10, t. ca dor a "a .t|,usrv,u ~ NJ
10 NJ ..l-, tuptt,l 90 item ul. 4, gu.
w. ~ w. wider AMI farther 1 "a bg-
','-. '''.' .i'N -, d. "A I,,u-i mt drain IN
". "'iii "''".. sent .' tap gYs.
'',, IT, Nv ..,' 80 Wy IN "''- ...l o' IL,
t .,., ' ''' us '' so 49,. "a
..f.. o -.
- a. ~, sue - "'.'"' any '. NL"'c o.."..
w., WV o. '"'''.N t'' o. .. DO g .fl.etlu,
L i.L. N' .''e NI'' '''I' .iH give . TIE pc i.e
~" '" PEI. WY 'h'' '' me- cure y NA.y' ra@l
'' D. l.Nl ~ 70 ht il. no.. hH' SNH Actually be
al n'E lh n'g'I"r aud nn i" positive sense th'u
ave- t.' '',. ' u" h', % tnt and high S ta|
N'' DO IT" tsumt...u "' iHr commercial World, fr
l' ~ % q Al TIE 'Itr" utlitl %. the Btuk of
Ii-I"bh e'tol M Is q We uucut stp'ks, pay
| iE ,''y sma. rate q interest, AMI up.u those
-t"h' me I'-'u, lh'rt nff, tie ut mate sc'uflt .
ihr' lI'' Which is divided security, heg'Hsc the
| t"l' "nis ~ thr liUh .l"k l. II equally with the
,.,,' u'r. WIZ, We pan pf'ns"d by ih' q n
- , - a. Nv y ~ ,S1''i Va v' ''' '' -
w., W ~. VIZ "a. Wv" .'"r' ''"A'' = i't '.s
.'t'' raw .' .A',,' y ".l,' 'o specially Pel8'd
'. .''! =" u .''''"'' ","''
Tue levy ing OF tie content. ,lcl tax, thepr oJer
tnAuS ration 90 the new banking scheme, and n O
Fic,ess ~ ueot istlon ~ ne" loan, are matters
tust vi require tmo. In tie meanwhile the
Treasury IL comparative. empty anil the demands
upon The Government are numerous ami pressing
t. enable the Government 90 support ltself during
this iLterva. NJ time and 10 facilitate the ne s0ta
ton Il then ,Aus, the Committee have decided 10
recommend the issue of government u"tes, fir rea-
SONS that may he stated In Il few words, and are
within tue Compr1heuslouufa Fall
| Tho question We have I, c.n,ller Ia i,,v the
gru.el tr,e which L.. ,er rai-.l d., IN "a, ,atl
60 All I,, a. ~ ,o - c-t, -, '' ~
=, rn,jrta,n i'm 4, a., 10 G,-., rt i
lance All everyt Iiu, re,.it, Gr tie r,,r,,,ss ma
,urs,i.nis si,,,r,g b,, r,n tLs C,ver,,nsr, ~,
,,oviic ,ic mems ~ t,vi,'. 10 vi - 80
nli,I and ,,,-. ,,,,,i,,,ic s,,,,-I, A. a.. go, y
No. arnS NJ, - -, IL X ~ - ~ % -
- ~ ~ w., Ny! "a ~, T - ~ we
7'.i 'Lu "'ilS 'ySu'i l'n,i, WV u, ~ 'lNNl'h;
~ u''fI "viu-' ''''lN ca u''i =, 'n. u.7u "
~ ~ '.,s ~ IT. ',n :" ", ",.'' il'l"i'
- ~ ~ y, ''..l' 'IA, =, s So. ~ w 80
''''n "a, 'ne "va,l''t'' y, ? AZ sue ',,.l9
,nr' WI ~" nv NV -" % " ',s ~ -" i',,
-, 80 ~, @ ,NiI t ''r,i W
''I ~ W t,.' -, " ' " IVA -
~ A. a. 49,, p. ,v',,i ~ r,,,,,,..,,i
- )" he -, i ,
H. ,,,,,,s ,f' Gy,r,,,,,',,,. a,t tha ,',a,
ures nov have considered are fir That purpose,
- , 80, .,oo ooo 400 "a, ,,,,
IL a. H. ~, w $3.50, ~, Us ~ ~
""' ' 'Nu"'S yea = wv 'l''l''' u'.y'
~ IH'' a., nv l,i "i,t, ~ ''l"'i -. ~
WV y '","'t',V '"I''s,'.,y ~ ~, - , w
~ " '. ~ L. 'r ~, ~ va III w.
gt W. tt.'I,'i u 81 .' y 'n
III reg 'ns Ii.V 80 49,, - ','o
"a" I, a'' ~ ,'t W ,t Wv, -