The Manchester journal. [volume] (Manchester, Vt.) 1861-current, 1862-01-21

~ taA NhtEb WIZ NiHFF sources sttat
. raise a revenue u Sl50,0o000o. We mar
Expect at Nh Early day enaelmcnis by that
body Of like character !, s quite evi.
dent that saeh a MEASURE is demanded BY
the necessities Of tbc times Our oullays
hste bsen suddenly increased about len
fold We Hrr now paying oui At tie rate
Of two millions per diem, or $3.50, 10000
III round numbers, per asnnm. Ard al
though tie organization and outfit Of tie
army and navy have consumed immense
sums which Sill no, be required again.
AMI though We may expect considerable
d minuiion o. our expenditures fion saeh
measures Of reirnclimeut ami economy rs
experience and The public soirc shall die.
tate, yet, - lung as the war is conduct
ed IA is present gigantic proportions
and Ne hope it will be until the rebellion
l. suppressed--we cauno, reasonably eX-
pect our annual OUTLAWS 10 fall much below
the above mentioned SUN. Ga the other
laud, our ordinary revenue from imports
AMI olber sources, has as suddenly de-.
creased, amounting nov Ia moi more than
$50, o0o,0U0 annually; aud It's increase
during the war canuoi lie anticipated
If tax of 500 100000 is divided
equally between al excise and dreci tax
alton, il will require in order 10 raise
S5o,o00,000 by direct tax. percentage
If about l20 cents per dollar Of our taxa.
Die property; the rates OF the excise ax
must Of course depend upon the nature
and value Of the property subject to the
tax
But large as this contribution may be.
il will nevertheless, we apprchend, he Civ.
en- by our people with ready hand and
cheerful heart. II the people are only As.
sured that the tax is necessary, and that
it will he expended with prudence and
Irugalty, this call for funds will meet
prompt aud full response.
The benefits of such measure are evil
dent it will give strength 10 The Govern
ment, infu,e vigor INTO our military oprr-
ations, increase the confidence OF the peO-
pie in The national securities, furnish mea
TO Fay aceruing inter st upon our loans,
aud to liquidate at least fifth Of the cur
rent expenditures Of the Governments
Besidrs, il will do much to effect what il
very much needed, rigid economy in al
dtpartmt OF the Government. The
people will begin 10 feel direct and per.
sonal interest in the national expenditures.
Contractors, discussing officers, and re-
cipiehts cf,he public funds, will be sub
jected 10 the most searching public inspec-
lion, which cannot fail 10 produce most
saluiary results.
But taxation can by no means Of itself
alone furnish the Government with ner.
essary funds; there will still remain a
large deficiency, which can lie obtain Il
only by loan. And in this particular we
the Government will BE- mo-, |
| kelly TO meet with embarrassment and !,
difficulty unless proper measures Of pre-
caution shall be adopted. As we have
already said, a heavy tax cannot fail to
strengthen the credit Of the Government, +
and 10 increase The facilities OF negotiating
loans. Another measure which in our
view would have like and more effect +
i've influence in this particular. Is the issue
OF demand notes in small sums suited for
general circulation, which if made receiv-
ahle in payment Vt dues TO the Govern
ment, aud also legal tender in CONNER.
cial transactions, aud convertible into
United States Bonds, would not Le likely
10 be deprecial d ID value 10 any amount.
This course would furnish tie Govern
mrnt with large loan without interest,
and if secured IN the manner above mer-
toned, would be readily taken by soldiers
and other creditors OF the Government.
We do rot apprclerd that this measure
would seriously affect the banking institu-
tions of tie country. There viii still be
sufficient scope for loaning such sums as
they shalt have for disposal. And if il
we're otherwise. the Banks must with the
people yield their private interests 10 the
paramount welfare of the country. II il
b. obj eied that such siep is in fact The
cres,ion Of National Bank, we reply HAT
such bank must ever be an unavoidable
necessity in times like the present. We
already. under the acts OF last july, have
organized national bank. and il must
its operations until The finances