New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-01-15
THE QUESTION OF FINANCE.

and the fitting remedies, BY Hon. ROBERT j.
WALKER, which will appear as the leading
article in the February issue Of The Cont.
mental Mdgasiae. There are incidental aver
ments, mainly relating to bygone matters, in
which we do not concur, but the main posi-
tions of this able and lucid essay command our
hearty approval. Especially do we concur in
Mr.. Walkers proposition that the restoration
Of the Union is more imperiled this day by
our Financial condition and prospects than by
all the forces of jeff Davis and that
whoever shall assure the return Of the
Government TO sovency will do more
for the National cause than the General who
shall win for il decisive victory. We inn
plore Members of Congress not to let another
week pass without having matured and re-
solved on q sy stem Of Finance adequate not
only to the immediate eXigency but to the
great necessities of the occasion. We henrtily
wish it were impossible for either House to
sit less than ten hours on each secular day or
TO consider any other subject until they shall
have not merely papered over bat closed tie
yawning abyss of National bankruptcy. En-.
treating every citizen to read and heed Mr..
Walkers exhibit and plan, we add few in
dependent words:
We protest against the suggestion, in Con-
gress or elsewhere, that an improvement in
our Finances can only be effected by victories.
What is this but bolder echo of SeymOurs
detestable insinuations that the Public Debt
contracted Cor the defense og the National in
tegrity is likely to be repudiated Does our
obligation to psy our debts depend on the sue.
cess Of our arms = Suppose the worst to hap
pen, and the Slave Power to achieve a CON-
plete dissolution Of the Union, shall we there.
upon declare ourselves o Nation Of scoundrels'
Why even the Southern CoDfederacy will not
deny its obligation to pay its ratable proper
ton of the Public Debt due when the States
which compose il seeded from the
Union; aud shall we prove more sbauelo's
than the Rebels Aiississippi's Reputation
Of her own Public Debt twenty years
since has cost the Slave Confederacy ten times
the amount Of that debt in lack of foreign
credit during the last two years 1t is. a libel
on our couutrynen to say that they will ever
repudste the Debt now being contracted.
Even if the revolted States should never be re.
stored to the Union, VIC shall pay our Public
Debt. If any State should hereafter secede
from the Union, il will hold itself responsible
for the Debt contracted for the defense of that
Union while said State was part Of it. Let
gallows-birds and swindlers talk Of reputation,
but let no man who would preserve even the
reputation of honesty tolerate the suggestion
FOX moment.
Why is it, then, that the Government can.
not borrow money! Anybody else who can
give security can borrow tit has rarely been
more abundant or procurabe--StOcks are cell
ing at inordinate prices; everything indicates a
plethora Of what passes for money (Which lie
what the Government wants to borrow:) why
arc those securities which should be the best in
the market neglected and stunned
Doubtless, dlsloyalty and an anxiety to bring
the Government to its knees before the Rebels
have much influence in the premises. very
large proportion Of our moneyed capitalists are
against US in this crisis. They do not want
dsunion--they abhor the thought of Mat-but
they want the wheels Of the Government
blocked, thinking this will bring about an
armistiee and reconstruction" We believe
they arc sadly mistaken in this, but our
belief does not affect their action.
Then the habit of investing in Government
securities ia confined with US to the wealthy
and intelligent few-s not, as in Europe, all but
universal. Our people do not realize the great
advantage of investing their money where they
can reclaim it at an hours notice. Legal in
terest is six or seven per centrifugal from
~ to 36-aud it is not generally known that
five pot cent. on security convertible at will,
with but fraction Of loss or none at all, is
really more than seven per cent. on security
on which interest is paid but tardy and capri.
ciously, while the security itself can seldom be
cold in an emergency but ut heavy deprecia.
ton. To how great an extent Government
Bond fulGlls the function Of ready money-bow
it is virtually deposit drawing interest, yet
recloimable at sight, very few of US apprehend'
A fow days since bachelor farmer died Of
fair age in Lancaster County, Pa, who had
for many years owned and titled farm Of
some one hundred and sixty acres. On exam
lining bis effects, upward Of fifty thousand dol
lars in gold and silver were found concealed on
his premises. This man was OF course q
money -getter, and would have been glad to
mako his fifty thousand hundred thousand
had he known how. And this he could easily
have done by investing bis savings as they &C.