, 1865-12-30
NATIONAL FINANCES.

Schemes Before Congress- 10 increase
the National Debt and Taxes
Editors Chicago Tribune.
The people of the United y ties arc paying
heavier taxes for the support Of their Govern.
ment, national and local, than any other peo-
pic on the facc of the globe. They have the
largest national debt. save one, In the world;
and rs burden to support 1t Is much heavier
than the debt Of Great Britain. Our debt
draws per cent. interest on the whole, while
that Of Great Britain draws but : PER cent.
Waen the legal tenders are funded the inter-
est will rise 10 sir per cent. or S162 000. 600 on
the whole debt. while the interest on the Eng
lish debt is s1o0, GOO 600. Ours is therefore
nearly forty millions heavier to carry than the
load on the backs of the Britons.
The taxes paId into the National Treasury
ior The past twelve months amount fully to
atx hundred millions IF Misunderstanding to
currency the customs received in gold.
Aaide from the problem Of reconstruction,
the most important matter that can engage
the attention of Congress, Is reduction Of
| the taxes. The people want the heavy burden
lfghtened to The greatest extent consistent
with tue national obligations. Congress and
| the President arc expected to cut down ex-
pe,ditures to the lowest practicable point,
and to 60 amend and modify the tax laws as
will furnish the requisite revenue IN the least
But instead Of this relief the country is
threatened with an immense addition to the
| debt and taxes. Will senumernte few of
| the schemes presented to Congress involving
! new and formidable acccsslons to the public
| burdens: ...
FIRsr.-Tle Missouri delegation present q
elai.n Of seven millions for supposed expenses
| in eqripping home guards to fight guerrillas,'
When tits IS ordered paid, Kentucky will be
along with 1argcr claim for similar purposes.
Fennsylyauia presents bill Of several mil
lions for apocrvphnl militia services In cxpell-
ases eulcred ty the apathetic and copper
head inhsbitants Of the York and Gettysburg
sections from rebel inyasions- When these
claims are allowed scores Of others will hn
presented for payment.
SEcoSp.-Afr- Blaine, Of Maine, moves that
the National Government shall assume the
State. County, City and Township indebted
ness. Incurred In paying bonties TO escape
military service pndtr the Conscription Act.
This would be q very popular measure In
some portions Of the East, where as high as Z
thousand dollars were paid to volunteers and
los were tllled without bounties, such an act
4 7vn1,ld he regarded as IN unendHEnble outrage
This Blaine scheme will add nt least sic
hundred millions to the debt
TnIrD.-Clains for damages done 67 the
war 10 person or property Of individuals pro
iMess;ng M ~ to be sloyal.h lfCongress recognize
t1,r ysljdity Of this class Of claims, and orders
any of them paid, precedent wilt be set that
viii cost one to two thousand millions to
satisfy.
r1css 10 20 back and pay large bounties to
EoldIers Who enlisted In the earlier stages o.
ti,e war for small bountcs, to The heirs o'
those who died and to the specnlators who
arc buying up these inehaote claims 1or Q
sonr. Tits measure will doubtlessiJ bt
pressed on Congress with systematic vigor, a.
fens Of thousands Of those bounty claims haTt
1nssed into the hands Of 1esh.brokers AMI
snecnlators. On a low estimate it Will re
/ cuire 1hree hundred millions Of dollars 70 sat
isty them, which will add eighteen millions
: year to the taxes OF the people and S5o3,uv,
large r7ntuity might be paid without mucl
, inconyeuIcuce. Just now It would CON
p'Ffias Flirn.@K nsa bill has been introduced I
. double the pensions paid to crippled soldier
!. and the relatives Of deceased soldiers.
: tits proposition become law, treaty mi
lions q year will be added to the taxes, Wh1c
: is equivalent to IN addition Of $40, 900, COO
: 1 the National debt
r S1xTu. All the clerks abort WashiuEto
:, ! and elsewhere, md all the officers IN the re1
uIar army. arc demanding lntger salaries.
. Congress increase the pay Of one class of o
. flce-holders, there will be no stop until a
u Federal office holders, including Corgressme'
4 lions more viii thus be eaten up, il this d
uend is ncccded to, The better way Is
contract The currency, and thereby reduce Il
% cost Of living; then an Increase Of of1ce-hol
y ers' Bals5fea wiz not be needed.
a. Tbs business Immediately before Congre