, 1864-04-22
finance one of the most embarrassing In the

finance one Of the most embarrassing In tho
prosecution Of the war Even the rebel pa
pers took up the matter, and pointsd out
to us our weakness iu this respect, and Of
course enabled the most obLuse among US to
take warning. But all has been in vain; con-
1scatfon. freedmen's. atflirs, whisky, any
thing and every thing Congress- was willing
to act upon, but the one thing most needfut,
lion Of the war. I know that for months
MIR. Chase has been most ANXIOUS On this
point. Indeed he las been accused
Of croaksng BY the trimmerB. BE was, how.
ever, Ikea prudent manager, only preparing,
or seeming to prepare for the necessities Of
the hour. The imitation of the currency has
aleo brought its ineyitnblo attendant evils
speculation, extravagance, and over importa-
t{on. People will buy foreign Injuries when
they can afford it, or think they can. I no.
tice In the late New York papers long lists Of
vessel arrivals from foreign ports, all with
cargoes Of the products and manufactures Of
the tropical and temperate countries Of the
globe; also that the European steamers
laye been compelled to put on extra vessels
to accommodate the increased tratfic. nl5o
observe TINT specie IL beginning to flow out
to pay for their importations, at the same
time that nearly oil Of our California produc-
tion of that article goes to England BY the
1sthmus. On Saturday nearly q million Of
dollars left New. York for England aud
France: To stop the outflow, and arrest the
cxtrayagance of the country, I now learn
that it is proposed in Congress to lay duty
tan1amonnt to prohibition upon articles Of
foreign consumption, especially luxurles.
Now, 1t is a very serious question whether
such would prove at all effective, unless the
country is brought back to something like q
specie basis. Even our rigid blockade does
not prevent the South from importing from
c1~- $n as]n mi r11t
reprobation of the press and the prohibition
oil the Government, The imitation OF the cur
reney operates in the very opposite direction
TO prohibition, md es that goes on the tariff
must be 1aised IN proportion, and when It
amounts to absolute prohibition, the snug
GRADE the e1ciseman, especially in .
country with euch' Il line of coast and
frontier as ours possesses. Then agnin such
a prohibitory duty gains us the fll-will Of
other countries. England and France will
look upon It with feelings Of hate, Nor eau
We expect to keep up q onc-sided trade With
them. They cannot take our breadstulIs If
"cuts both ways,h and will bo found NOT to
effect the purpose intended after all The
remedy aud the only remedy really Is that
which Congress does not appear to dare to
supply-taxation and q diminutfon Of The
currency. II the present state Of affairs con:
tinues NC will be compelled In the end to do
as the Confederatcs have done, TINT Is force
the funding Of the currency. A desperate
state of affairs requires desperate remedy.
II this Congress has not the courage to tax
State Bunk issues out of existence, and raise
revenue BY taxation sufficient for the needs
of the Government, and to provide beyond
all contingencies for the payment Of the in
te1est on the public debt, the next will be
compelled to resort to. measures which only
the most absolute sovereiens and the most
defpotic governments in their extremities
have dared to inaugur tic. Let Congress take
warning from the history Of nations and act
firmly, deelslyely and courageously ere It be
too late, F,