New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-12-21
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THE TWO FINANCE REPORTS.

tho Golfers placed severally under theil
charge, We have noted seine comparisons
and contrasts, which we will give in brie
for the benefit Of our readers. We will
premise that our statistics cannot always
be placed in exact juuapostion, because
tho fiscal years Of the Federal Government
close on the 3Oth of June. while those of Mem
mnger's "Confederacy" close on the UtA OF
September. Nor must it be forgotten DAT, in
speaking Of "debt," "loans," "taxes," and
fiscal affairs of an established Government,
which pays tho interest on its promises in coin,
and where gold commands premium Of from
40 to so per cent on its paper currency, while
in the other we are speaking Of temporary IN
suuection, whose chiefs pay the interest on
their insurgent promises Cf they may be said to
pay at ALL in paper fifteen dollars Of which are
required to buy one dollar in gold. Therefore,
while in many instances the amounts we state
will be nomnslly much alike, they are really
and practically very wide apart
| The debt of the Federal Government, at the
close of the fiscal year ending on the 3Oth OF
June last, was $l,09S, 1913, 1871. But, Of this
sum, 10000, 900 existed before the present
war commenced Hence, the debt which has
accumulated since the Rebellion broke out is
about 81 orr. 900, 900.
| The debt Of the "Confederacy, on the 30th
of September last as stated by Mr. Memmln-
ger. was, exclusive OF foreign loans,
1894, 1863, 1879. How much these foreign loans
amount to is not stated. Whether great or
small we fancy the holders. after reading Mem
minger's Report, will be ready to sell out with
out eKacting premium from the purchasers.
Tn. debt, then, of the two Government,
stands, nominally, at pretty much the same
figures.
The receipts Of the Federal Treasury during
the last fiscal year were 1901, 1864. Mem
minger gives his receipts for only the nine
months preceding september 10 Estimating
the remaining quarter at the same ratio. his sum
total would be $500, 030,52a.
But there is a striking and most important
difference in the sources whence the receipts Of
the two treasures flowed. For example: The
Federal Treasury obtained $50, 059,G i2 from
customs, payable in coin or its equivalents, and
$50, 1875 80 from internal revenue and from d.
rect taxes, including in this latter item certain
tax advances made By States. the precise
amount Of which has not yet been adjusted at
the Treasury Department.
On the other hand, the Confederate Golfers
I(estimating for the reasons stated, for one
quarter have received, during their last iocal
year, only $l246,3T from customs, paid,
doubtless, in it, deprecated paper; and bu,
-. sos, 81 from taxes.
From these two sources. our Government hs-
received within a fraction Of $l3.Oco o",
while the insurgcnt Secretary has obtained only
90. $50, 900. And he il compelled to admit
that. though there has been a tax Law on the
statute book Of his Congress, It's provisions have
been set at defiance by the States aud the
people, while the blockade has pretty efiec'u"lly
dried UP all those golden streams which nigh,
otherwise have gladdened his eyes in the shape
Of duties on imports.
On the other hand. Mr.. Chase feels assured
that the receipts from customs and internal rev
enue will, during the current fiscal PEAR, reach,
FAY from customs 80, 800, 900. and from inter
nal revenue $4,000 900, being si3, 0oo. 600
more than was received from these two sources
the last year
The Federal Treasury obtained from the sale
Of bond, and the issue Of Certificates Of In
debtedness during the year ending June Both,
: tG5, Os3, 232 Mcmmnger estimating for one
quarter) was able to force of in the shape Of
| bonds and certificates. during his last fiscal
wear. S25l. 0o7, 100. Our Government issued
in United States notes during the year. SJll,'
a5a,07-, while Memminger set ahoat Of his
treasury notes S599, 1910
The contrast, and comparisons suggested By
these two classes Of figures are full Of meaning.
The Rebel Secretary could not persuade his CO.
conspirators to invest IN his bogus bonds beyond
what they were compelled TO do in order 10 get
paw for such Of their goods and chattels ~ The
Government seized, though they bore interest
at 8 per cent per annum; while The people on
this aide Of the Potomac ard the OHIO, having
confidence in the stability Of their institutions,
purchased the Fiye-Twenties, bearing q pei
cent interest by hundreds Of millions, as per
manent investment for themselves and their
children. But, during the same period, the
Confederate financier crowded of $2ll 900, 900
more Of treasury notes than our Government
issued, merely because, though he could not
persuade his constituent to bug bonds, he could
compel his creditors to take notes.
In tho last fiscal year our expenditures were