The weekly pioneer and Democrat. [volume] (Saint Paul, Minn. Territory) 1855-1865, 1865-02-10

from California. The balance of gold, after
| the payment of the January coupons and the
taxes indemnity bonds, In the Sub Treasury at
New York was only about four millions, which
must be added to the probable receipts for
customs. We leave out of the question till o
future occasion what little gold there is in
Washington and the customs receipts at other
ports.
The gold interest due on January amount
ed at the date Of the last official return-viz.:
September Ito $14, 582,5T. The interest
due last November on $50 bonds amounted to
yearly payment of interest on this class OF
bonds will recur on the LIST of May.
The specie in the banks and the Sub. Treas
ury on the LIST of January of the present year
amounted to $50, 1864, 450, against 1897 1885,, 534
for the corresponding time in the previous
year-showing loss OF the difference. The
shipments between that date and the LIST of May
next will probably be betweens Seventeen and
twenty millions, and the drain for customs du-
ties win aggregate not far from twelve millions
which will create home demand for, say,
thirty millions, in reduction of which we may
allow for specie receipts from California to
merchants and other private parties here of
five or six millions. This would leave bal
ance of not much more than five mill.
payment of the May coupons. But we are
not, OF course, for moment presuming that
the banks would allow their specie to be SO far
reduced. The thing would be an impossibility
for the simple reason that the banks would not
permit it.
To show the condition to which We are
fast tending, we do not care to quote from
other than administration authorities, but
no one need to be gifted with prophecy to
foretell what will inevitably occur if the
war continues few years longer. Our
bonds, bearing interest in gold, are now
hypothecated for less than half their par
value, and when they come to be issued,
with interest in currency, a still greater
sacrifice must be made. The daily ex-
penses of the Government amount to mil
lions more than the receipts from imports
and internal revenue of every description.
The national, State and local taxation, on
real property and the productive industry
of the country, has reached an aggregate
amount that cannot be exceeded without
virtual confscation.
Such being the condition Of the coun
try, the pertinent inquiry will be made
"What can be done to change it for the
better ?" We answer, bring the war to a
close as soon as possible. Give up the in
sane idea of subjugating the South to abo
li,ionism or any other humanitarian theo-
ry, and become, like SHERMAN if you
please, ga fanatic for the Union the
"Union as it was and the Constitution as
it is" Then if the rebels will not return
to their allegiance, let the war be prose-
cuted on war principles. Let there
be no more calls for five and three
hundred thousand men for one year
but, as at the beginning, let us have halt a
million put into the field for three years
cor during the war;" and the rebels will
soon come to the conclusion that further
resistance would be madness. The people
of the country want peace and the Union,
but there is wide. spread feeling that both
are hazarded by the imbecility of political
rulers