Daily State sentinel. [volume] (Indianapolis, Ind.) 1861-1865, 1864-12-14
Thc Treasury Report.

The report OF the Secretary of the Treasury
i one of the most important documents Of the
kind ever issned IN this country. The necessi-
ties OF the nation were never 80 urgent, and the
wisdom required for the nagement of our
finance Was never OF SO high an order a. now
II Is. therefore. encouraging and gratifying 10
sec "A report 10 which the iundn mental principles
which should govern our national hnanclering
are in the main so correctly laid down IL
would appear a if Mr. Fessenden- financial ed
ucaton had been good, aud his original educa.
ton sound On the other hand. some of his
special recommendations seem To be so distinct
ly opposed TO the general principles enunciated,
that one is puzzled TO understand whether il his
idea that they can he made consistent with one
another, or whether he deems the exgencies of
the time such az 10 call Tor departure from
correct and safe methods and rules. There
may. indeed be times in which there are excep
tons to general rules, but il is very much to be
doubted whether such times ever occur in the
history of a national treasury. The laws which
are passed TO regulate trade and commerce are
necessarily subject and inferior TO the laws
which rest in the nature of things, laws whose
effect cannot be ennuled by any human legisla-
ton. The latter ore, IN tact, the fundamental
principles, some Of which the Secretary Of the
Treasury lays down with clear appreciation.
Those laws must. Of consequence. be always par
amount, and departure from them is sure to
produce such collisions and conflicts as disturb
the financial system, ard defeat the purposes Of
the law makers
IL is emnenty to be hoped that the financial
questions before Congress will be kept wholly
clear of party politics. The interest which all
the people have in the national debt and the na
tional credit makes it OF vital importance that
all should unite in devising the best means for
sustaining both The most earnest attention
should be given To the lessons of history They
are abundant and accessible. They are simple
lessons, easily learned There Is no such terri
Die labor in learning the laws of finance. The
subject is no mysterious one, into which only the
initiated and prepared mind can penetrate On
the contrary. the laws which are supreme IN the
financial world are those which a mind oi ordl-
nary intelligence fresh in the subject. will under
stand and grasp AZ once. and il seems sometimes
rs il such new minds made the best finaDclers,
because they are free from the seducing notions
which are aaoat in the mouey markets Of the
world
/, would DO no good 70 pass laws sroersedng
the attraction OF gravitaton Il would not
N he balloon weigh al ounce more If every
empire aud pat ment on earth should decree
that hydrogen i n-avier than ar
There are those Who imagine that the laws
> hich apply % private husnre- arc not neceSsa-
rily applicable to i.To u i nation. that what Is
right or wrong on 4 -mal scale may DC wholly
the opposit. lzree scale This l. common
error-,oo common b, TAR just a. certain IS
the law ~hicn regulates the roll OF planets ana
the fall 60 the ground Of leather - one sun he
sane lss, Ju-t 50 surely me laws controlling the
mans GENET % national millions are one with
those which control the merchants thoasAnd-
No new element i introduced requiring new
law or disturbing the old IL is only a larger
amount Of the same material 70 he weighed anu
determined by the same lhs-N /. Journal OF
Commerre