Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1864-02-16

FINANCIAL ASPECTS.

reduced in Congress, by Clarke Of New
ork, Is worthy Of attention:
Resoired, That ia order to secure be-.
yond contingency the permanent pay
men. OF interest on the public debt 10
.o,n, aud prevent an undue increase Of
deb. and restrict within proper limits,
the aggre cate paper circulation OF the
roun,Iy, the Committee On Ways and
Means ass hereby Instructed to inquire
into tie expediepcy of increasing the do.
tie on oreign imports upon articles Of
luxury Of class, AS far as practicable,
no, manufactured or produced IN Tins
country, 30 as, in their opinion, TO pro-
,luee a reyeauc Of 3l20,000,OO0 per an
mum; also into the expedlency OF IN
cfessny the internal revenue tax upon
Articles Of iuxury, and upon such Articles
of domestic manufactures as come III csm'
petition with foreign articles upon which
the import duties are advanced, SO as, IN
the opinion OF the Committee, to pro-
d ice an annual revenue Of s23o,OO0 ooo
aso, Into the expedsency OF restricting
The bank c.rcua ion OF the country,
State Or National. t. 100000, 900; also
into The expediency Of authorizing the
issue OF bonds 10 the amount oil &2Oo,-
100000; the whole or any portion there
OF 10 be disposed OF a the discretion OF
tue Secretary OF the Treasury, when,
IN hi ia l.mcnt, he may deem 1t exped'
ent aud proper to use the procsecs for
the redemption Of government legal
tender t.s; and report at an early day
by bill cr o .herwise.
This resolution is cxceedingl y sugges-
I've OF right IDEAS and sound principles.
Air. Clarke, We believe has al lays been
opposed TO The initiation system Of Mr..
Chase. lie nov indicates the true poll
cy, in general terms to maintain safe
relation between the public revenues AID
Tie public debt. At tie rate the debt is
row Increasing it will very soon produce
fearful collapse in the public finances
and the "mo ,ey' Ct the day. There IS
10 possible way TO avert tic impending
catastrophe except by means Of some
policy akin to that sugg s'ed by Mr..
Clarke. Unless the revenue be increased
and the issue OF irredeemable paper
none: be checked, the time will SO ~
come when gold will take an upward
cap that vii! contound our statesmen
in spite of Congressional tiukering, and
Government credit will be haken to its
very foundations.
MIR. Seward recently said in the most
solemn and impressive manner, that
every man OF the Northern States 1,
richer IN consequence Of the 'ccr. Bu
he either K:Ew he WIS uttcring and xiv
ing some sort Of currency to the mos
,tnpendous an unmit gated LIE; or he
il the gre test DLocKuEAp that ever held
Cabinet otfice-one or the other. The
most expansive charity can conduct a
man of ordinary intelligence to no other
thao one # these two conclusions.
The Washington corse- poudent Of the
New York Independent ID the E'cening
Post remarks as follows on this subject
Tue financial writers of TIE country
aud the atle tinanciers Of the g,ve,n-
ment, are at la-t waking to the real con
dition of the nat 'onal finances. Mr.. Nc
Calioa.a says the country is not in a
prosperou, condition. Mr., Chase has
said this for months The counlry is
not rich Intipid,ois amass money
from the lonr, but the nftion necessarily
grosos Pr ,''er The fin ,nces ae becon-
ing apeip eying s'uds.
Aui. . NV \ grk XeyaM, which il
generally accepted as good authority 90
Ii.anclal qne-tioas, ha the lolowiuy
M. w eci SAYS Tie war VIII cost. b.
fore II eodeI, iour millions OF dollars.
lls does not 90 far enough Ii Line Ii
he Reelected We sly /! j eost Sin
.hnasand mi III or O. G half tie who'll.
yal is ~; tae property oi the los Il State,
ascending TO The census 81 1860. Atthal
une tie Vaiae Of The property +,
Unitrd States eIima,ud al SIX q.
thousand millions. Allowing toar : oas.
ami III lions ior the > ats IL tebel ~
leaves the entire valul / II OF The uya
States we've thuus md mil ions. a,o
one-ha OF the great iuheri an e o! tn
people to be absorbed btfot 9 the war /.
eude !, uoes, Oh ,nge DO ,ff.c,ed in II,
Arrangement Can til s lie dome wiihon
eli citing most exlra5tdiua,y iaanciaI
Revolution
Of course if the debt ever reach these
figures IL "'u Meier be paid. And tn.
mo nent that the public mind is Sc ZEE
with that idea--tha. the tebt y i'll mol
DC paid--the whole Paper System o
Nlr. Chase witl fall to the ground. N
peope ever paid or ever wit pay u pab
lc debt equal TO one haif or oae four i
their aggregate wealth. These are FACTS
Of most pregnant import. and &C ma,
rs well lock them square in the face.
Army Appropriation Bill.
The till from the Committee OF way,
and means, for the support OF In, arm