The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-07-09

lie highest premium ferched AZ any time during the
suspension was foriy-one per Cent.
COS Argument ucd by the friends Of Mr. Chase is that
she value Of rropesl ~ The iyA sstes eight
Hnes greater Than tho hail debt the present time
aud that therefore, there 10 possibility or ultimate
quotation But OF what use may ask Is this property
unless the bias efficient system taxation,
snd levy Thule ins great II has said
sha, there god cpoush Colorado TO pay the national
debt twice Very iiEeiy But the difficulty Is in
getting at Ii and got would be The property Of pri
vle individuals.
We inexperienced in taxation and Tariff ard
Tax bills abuudany testify 10 this IL The lrst the duties
fer the part high, which checks Importation
Srd In the uihsr the to5 iight aud levied
far too great number Of commodities, which makes
tire expense Of coeciicn cases reary equal TO
TIE receipts. II IS exploded doctrine that lie
the taxable articles The greater the
ca the contrary, has been found bai lar rgcr
come may lie derived from a moderately heavy
leading articles OF consumption ony such wis spir
Ns. tobacco sugar and We would there ads Use
Congress meeting 10 take into consideration the
propriety OF maxim the Tariff Internal Tax bAlS
approximate more closely, and W adopting such
surss will secure Greater revenue than uLder tue
existing laws, VII eh calculsted yield during ine
fiscal year ony boa three hundred and Oily mil
lions Of dpara against probable expenditure OF atless
hundred and hity mions-lssylug dsacit, u Dc
notes. animated by Mr. Chase, D: six hundred millions
which sum sr ressendeu viii be called upon proYide.
ax matter Of coarse, there mech speculation 10
war street g biz future policy IN supplying the ways
spd means: those who know bin beat are most con-
naeut Of bis success, and boeve that he will pursue
as Tar possible such conservative policy
as will operate against strinCency OF The
money srke, any interruption In tue ordinary chan
nols OF business. That tho u six hundred ronna 10
atAYn .sF~as
d-fyrbe cuslns duties aud Internal taxes, s liable
60 great con.,pgen. increase instance from
the receut call for troops rcpe the rches in
Maryland We niusI ais make considerable aiio@ ance
for the further depreciation Of the currency When would
add enormously 10 The expenses Of tho war already
sfncuniiag TO snort Of three millions per Gay.
However, il fs expected that within few daya Mr.
FesSepden viii Nsw York, when shall probably
learn something OF hs u,ure policy. Meanwhile ~ould
press upon attention the ety OF Issuing monthly
statement tho national oee; calculated TO strengthen
public couadCDcg without which the eaUr;s * the Urea
pury viii be We woaia further suggest tie sale
soon practicable Of orty years six er cen bonds a
whstever price they VIII briDg IL the market large
amount OF hcsc might be disposed q abroad ~ ots
appointed the purpose.
The Treasury department would also dc Wei % max
ss many payments possible % c9nsracsats aud ctics
~ certificates of indebtedness and induce SOW
arnmeut creditors 10 receive them the more Willingly
Congress early session. should pass an act authoz
sng the conversion Of these o six per cent long bonds
In deciding upon his line O pciiey, Dir Fesscndcn vii
.vo TO consider inst he his successor has rot ont,
20 provide tor the present expenditure du mi
are var but M n nndlmnished degree for consider
aos time after s termination the experience Of all ras
wars owr own Included, teschlDg that for the ns
sGree years succeeding declaration q peace the
rouses Of government greater than during III
ssme period OF bostities; aud with at least eighseE
hundred thousand fnep Withdrawn from the Ordinary
pursuits OF e aud prosI Of considerable addition
number, ia consequence u the war, We must no
calculate on tho same increase OF development IN gu
manufacturing aud agricultural industry as We wcuD
have beea justified 10 doing three years ago.
There who look for steady contraction w u
volume OF currency but this cannot be accomplished i'm
ssodstey at any time during the war, without De
rang ng the money market and Il Is TO the interest
tine Treasury 10 have money easy; and, muc
rs we deprecste the hsuc Of more teal teudc
rates We fear Mr.. Feeseu5sn viii, ip the presen
strtoseut state Of the money market, nnd himself I
such condlion-bsmpsred As be IT, too by the lsgisls
ITO intended 70 apply TO Mr.. Ubase's potcy-ss 70 b
compelled 10 resort 70 further issues Of greenbsoks
would facilitate bis negotiations with the state banks
Lsseyer, n, IN accepting loans 81 any future time, b