The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1865-01-21
The National Efnan
Loans and Currency.

The National FfnanceS...Taxes...
Loans and Currency.
There is great talk among some classes
of people about wha: they call the "sci-
ence OF nnance," az il il were something
which involved al leas: the knowledge q
algebra and the integral calculus, II not
Chinese and Arabic. Yet wEo docs nei
know ths. the men who have acquired the
creates. fortunes, and invested money 70
the bes. advantage, were men q AIN
coln mon sense, without any science II tl-F
And who does not know that tie EIa 5clty
o: those called "t.ranciers' are arran;
EumbCgs? Who does not ren.em ser the
s.ory CT the Swiss banker from whom Pitt
borrowed tlN financial system q Gre..
Britain? This accomplished gentleman
determined 70 live by n1s0Ac.er..C. He
therefore made for himself = sc.eTt.'c sys-
| tern which should intallihlv sos.e'n a.ish I.s
object. lie began by establishing cseGa
II ...ies of France, Germany and l-ns anc
by the most punrtuai and exact iaysrens
g. the precise cav. To nee. his osl iE2-
lions, he made !: !. principle % borrow o.
y Il lt,:e :anse than he paid 4. IT'S was
! not very oi.ticui. when the pla eee q. ret.
were FAR a4s-an. from each cher, and ho
showed assets and prosperity ty e-egaa.
! yiilas, vineyards, aHl dinner parties. re
| do nc. :rv tas. horses nd 1..st women. he
!
American. r. be had been IN American,
/ he would probably have oeeEa Democratic
Z banker, fl.ke some III New i0rE, ana
! made. display CT horses ..r.i carriages n
proportion ,hs credi: he expected Tor LIS
financial se.i. ard Ia. Democratic y nj
! pies. pu. Icing only I. Swisa, Il :. Pa. n
copri-y, he confined himself % S.t.as aSd
elegan: gardens, and the most excuLs':e
dinners. By The way, 30 reas 'inAnc..r
/ WI regie,t 20 provide good dinners. lie
saocld .&Ee 4 ,essan IL Ibis t.0,a t'a-a.,.t-
| sIazsrin. OR Swiss tanker grew ard
fso..rished hE7. 8. la>. s,.ed ard "han d.
.ae. sem s0r rs creditors az! tod fsan
tha, her Intercourse together hsl been
;e-v .-.eeaole, anf he hoped .hev W0u.a
ri.- hiul eredI; Tor yt-omp. payments: and
there II several g.ea. folio Yelc.lee they
woQid .q.,. clt Ter GceoAe.s e--9say
S.<:et. Tie gentlemen Were very sorry
. par. " III l.,n. and Very .,ai .e had
been 80 exact. When 0ea.t; had closed he
scene they examined tha g-ea. to.os an!
found, - rs rad said, their accounts fSere
exactly stated AND 4 heavy balanee y Ia
vor oi each @! them, which Was ttser Ike
u . 1e pa! o.. :...s ecrth. TIE tlsnesers
.et. their separ.ed dranc4er With ccnvle-
ton tina: re naa added another laurel ;Q
the worthy body Of which they We're mem
ters. From this Swiss BANKER william,
PIT a said 20 have taken the i3ea Of tGs
p.eser, financial system D. Grea. Britain,
wbich is, perhaps, az indicative o. tie So
erce OF finance ~ anything ex.al-. Iii.
) con:rived 70 mortgage England for folr
thousand millions Qf dollars after every
acre Of lar / vas already rortgassa % III
ar;s.oc-acv3 ior the iau9abie purpose o.
rlt.In- dowE Ma apoieon ECnapa-.e, {. ma.
with whom they had no more 70 do, than
! they now have with the Chinese aDa IA
, panese whom :hey have recently been
homrarding. Bat e. us coSae ~ our oTil
n o. ~ 'nnk- = .-ratvht TIC
I face. We can stand {. much greater debt
. than Igg,and, and pay i III q reasonable
+ time. Aor we are no. only intrinsicaily
r.cse-, bC. there are two great facts which
g make . vas: difference IN or situation. In
: the Erst place. all Europe is sending men
3 and capita. TO rs, instead oi parting with
them 10 Europe. In the next place, OIL
. lands are not rnor.glte1 70 an aris.oe-acy
who control q depeElea: teIantry. Ea
! the lands are owned by the peo?.e. and
! the people are free. TIE result Il that "a
: Dor TELLS IN the rapid expansion Of irdas
: try ana settlements. We have bocndles,
G resources IL everything which the ear.f
r abounds OF the use.ul and valuable, anf
! tht Sc resources are developed by .aoor anc
1 enterprise. skill and genius, 20 degree
and with rap.diiy never before known or
Q earth. We have the foundations Of are3i
! beyond .:,at a. any nat.or, pas. or present
: There IS 20 fear ..tCl- our cretai. or ab1u
i orr getting money % IN indefinite ex;en.
! Ea. the real question !. how much opgh
I . be taxed on the preeen. gene-a.ionY q
: how mn 81 lei. IN tie form Of deb. . pos
0 teri,yi Here we may remark .ha. 2,
q iaee tsa. .ne country Tho loyal States) y
y weakened bv tre var, II any such idea he
e been entertained, is a palpab.. faliacy. Al
: the great facts brought out by statistics
& prove .ncontee:ablv that We are nlcl
y stronger IN every essential element thar
g xe were fo-r years ago. The vote OF th
Presidential election shows We have Ulo!
e men. notwithstanding III the great losse
:, OF the war. II is proved that he tsebts 0
e the people GRO: the Governmen:l are grea.
G lv>reduced; that failures and co.a alerc-;.
! losses are less, and the tables OF conamerc
and agriculture show that every Gerar.
o melt Of industry il active and successful
7. We are, therefore, il the midst Of grea
! var, ex x..ih.:iny an extraordinary maas.,-
p of physca. an commercial prosperity. n
Il .n,s situation we have 10 excuse Or throw
II irs on prosperity srch 4 Gel. as Englan
9. mas. We say boldly, that The largest pa'
/ Of presea: erpe5sses o..ght 10 DC pad jro'
rs reveauc, rclst2 ty iGcG..oa. Suppose ihd
i the entire expense Of the country in tb
: coming year - seces. t..acsre3 1ls.Ons, tan
r. we IL ink j. VIII not much ex xceed IL the
~ we say tha. at pes., four hundred million
d should be raised by taxes and tariff. Ths
Z erratic gcni..s, John Randolph, stated ID
% FRS; and almost only great principle {
ie snan 3e-ray ts yolc we readily adin
81 there are :if1as taEd q state Of war = one
st in which Il. IS ether not practicable, or ne
le desirable 20 pay everything - We 20.
= We carry Oh war for the eT is:eEce OF ration
r, al..y, (as we are now dong. posieriiy IN
se ques:!onably may W called on 70 pay il
or portion O: ne price of that noble estate
y viii enjoy. Ey.t. on the other hand, If "
II create u deb: 70 tho utmost extent we "a
10 bear, how shall we be able TO meet q wa
hereafter? And such q war may be neues
y sary to secure onr dominion on this cont.
r. nen.. We must tie hereafter, what we hav
u hcen-prepcred for war; and then, Pc rha +
wo shall preserve peace.
n Now let Us see what is demanded OF Cor
a. gress to meet the emergencies OF the day
to What is the presen. revenue. and ho'
!: ought il to be increased The present re,
IA er ne tariff and taxes will amount n 10
n year 1865, in round numbers, &c $500 600
IN COO. We know that il did not reach tn
j. in 1864, but it is Il fact that each month !.
D. cTeases the reUenae from intcY7sd! .Gres.-
la The reason is that the deputy assessors a.
y, constantly bringing more property 0r-1 nsor