The New York herald., 1863-01-13

Total funded and unfunded debt TO Jan
2, 1863, according to the books in the
Treasury Department. ............ S7SS 500 252 a
To which may be added the estimates OF
appropriations made and asked for to
July l, 1854 (including 500 0O0 900
that may be undraw \ at the end OF the
year, and which will be due, though
not paid), amounting to ssy....x 1910 195, ,747 &c
Public debt estimated to July /, 1884, IL
tho war continues on the same scale TO
On looking carefully at the above guros il Vii Se .sen NJ
that Of the large sum- sss 55s til e. required pay
the current expenses OF the fiscal year ending july l.
1853 only $237 GAG 03 had been realized for the hrs,
hve months up TO lecember 1862 aud during the
1851 22i l31 SO still TO be provided for beng moro
than SIS 600 per month"; and more than 50 500 600
pay these daily expenses wore $2 $50 legal tender
notes. not then Issued tho daily receipts from customs
aud internal taxes, and whatever sum might be realized
from the daily issue OF postal currency less denom
nation than dsar More than $3i4 900 600 must be
borrowed In some form between the day december
added the sums TO be borrowed from July 1863 TO July
l. 1854, S772 1888 1s3 6s-making altogether sum to be
borrowed In eighteen months and above customs
and taxes Of more than 81 III 900 900.
How Ia this large sum TO be ebtanedP
The Secretary Of the Treasury In his annual report in
dicates two modes OF obtaining II follows -
i. national bank bill.
q by loans in of the forms heretofore authorized
Afer examining the subject Of bank, Mr.. spaulding
Having shown that the proposed national bank bi.l is
not only unjust in of its proysions but that il will
not yield any considerable amount Of money meet the
appropr the current and next fiscal year the
other question 10 be considered Is -
2 Can the money be obtained by loans, will be re-
collected that the amount to be provided for aud
above the sums 70 be realized from duties imports
and internal exceeds the OF 81 100 900 OOU
This large to be borrow In the ensuing eighteen
months As have before stated & 500 0C0 viii be
required every day. Sundays included between this aud
the LIST cay q July The receipts from postal eur
the Of por ee sr S no, Po
81 $1,000 TO be obtained daily In some form by
Congress by its legislation at the last session, has n
consider bic extent changed the standard o. value for all
business operations within Che United States.
The standard Of value fixed by Congress legal
Treasury notcs, convertible at any United
specie yns bonds bearing interest the rate Of six
per cent cr annum, payable half yearly CON- based
upon adc taxation upon the entire property Of the
country Legal tender notes CONSTITUTES the cur
rcncy established by law All exchanges of proper.
W all COZ tracts and all loans are based upon the value Of
Tue law tongress declares that these notes shall be
lawful m ncy and legal tender IN pay yment Of all debts
The Secretary states in his report that previous
to the Let Of November, 1862
The coin had been practically demoae,iscd and withdrawn
from currency, a. basis Tor currency
Inai on VIC Suspension 81 specie payments andthe sutsu
cent specie paying ."nd- as hs legal ssnard o. yaae gold
tncaaans Of supply and demand and 10 N. errsorliua
fluctuations u mere speculation.
Gold does not circulate all currency ond there is
no probability that viii circ late nouey for several
years to comocerainy not during tho progress Of this
gigantic war to put down the rebellion This TO be 10
greatly IN be dcplorei but II cannot be avoided We
have the monster rebellisn by the ears ike the back
wcolsman who held the scrocous wofif we lot 60 he
viii destroy US. We must therefore hold on I'll Sub
duo him. No compromise can be made. The tebcis vii
csoite my basis except that of separation am
an acknow leirrncnt OF their ldcl endebce. lhc wnr
the GORE must 30 on. While the asts the magni
,uic o the expenses W he great that there m not coin
enough IN the uuty to carry With gold and silver
Ii cannot be obained We must try mitigate a. tr
rs the evils gr1Si ing oul oi the necessity max
ing legal tender npies the standard oi value
lOa cannot dtspt sc ~ your twenty six cent
buns Tor god hou s1bmtiuK ~ icss o. Oger thirty
cents every dollar In other wotds. tor every dolls u
hurds issued you cly ~ cents in gold Tven
n Won should be willing 10 submit this sacrifice =
M pf able that yeu could cgoAin S25 200 Gpl
OF nds for gold before 80 would be obliged ~ subu,
10 . sscrihce of lfty ccits on every duu sod Not T.
cause your bonds ut god dollar Tor doas. ~ ltH
bit because the whole amount o gold the country l
coua bad Tor clres eslaiun does iot preta " 49,
ccei two hbDrei and atty nj II ms VI d6lss
No, : nrien' IN T. carry on the immet cpcr.t rs
OF the peoie asd tie gycrnnent Al tbs TINE. even II IN
caud all 10 bro t 0ut AID Put into ona III px
wholly impracttab.9 ~ ihIs tme. W one u al sr
qtanted wrA ulbslt.ry Affairs bsJevos tnat we can
MAKO sae q Ag, co.. derG be aHoubt oyr IN "a, .,.