New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-02-28

30 1894. Wa ss65 23iOs1 The estimated czp.ndl,rc
cr INC current fiscal year Is Ss9S 99 l33 pon 'ag
Eass Of the present Tvs much more than one hall OF
Ehis sun has already expended. 10 TINS sum You
Sust add every dollar you provide Tor ny rev
kaws aud this grim fact must not be overlooked
p single moment when YOU ore making
k,c. approprations Every dollar Of this must be paid
In the form Of taxes, anu that is NOT the Nolst o. H.
Snokiug &c. by borrowing by collecting it from our
reope. II we could postpone the borrowing uLih .Le
war il over It would be easy But we must have now,
mad we must devise the means Of getting II before we
ran sympathzc with tic poor clerk tie brave solder
~ m ueedy contractor Unil then your sympathy is
.not5F, Won, srv measures relief mdyadd Ueo 10 the
,istrcss q al whose vehloogs depend upon lSed sa
nrv rcpeat tina, there are bui three modes Of raising
ihs money. One Is by printing yVAT aotc. calling
Them money, and compelling yor people 10 taEe thcw.
Another by issuing your bonds and promises 70 pos
in future. And another is TO collect the money in the
form Of taxes from the people That n these modes
Iay be rcsorted TO Is proven from the history ot al
modern nations when involved in As .hc frst is
The easiest II is apt 10 be rcsOrted to nrs hui u u
doubttu and dangerous expedient and soon es'
hansed II pressed too far 1t destroys laws
and taxes, and national banSrup.ey is
Inc nexorabe result. limited amount OF this money
was Indispensable TO a medium OF exchange IL
j. ike some medcines-necessaTy IN certain cases ana
an moderate Quantities but II taken ia eaets' MA
Meath Paper money issued by government Is caieu
ioan but has of tho elements OF loan except
The promise TO pay There can De no loan Wlthou,
lender and the act must be voluntary. In the Lludle
ngcs governments resortcd to forced oans-a contra
hctiOn of terms A forced loan was merely an uJu,l
nnd unequal tax. regard me nited State iegM
fender notes not as a loan made but as money lawiu
money. which the citizen IL compelled 10 receive AZ
That which now fxes the standard OF oil
S1lue Whether the power TO Issue Is derived IRON te
power coin money money whether II is
Inherent IN every Government clothed with the atFi
tutes OF sovereignty are questions We need not now
discuss. We have exercised the power Al rs now the
rIrrency o.. the country the OF yaluc and we
yin only regulate It's form and amount and provide for
Us redemption. while we and have made our paper
Tho dad .f tfN
AZ value Of any other commodity, whether gold silver
food The attempt has been made in many Govern.
mentS in different ages and has uniformly failed The
pandard OF valne may be liked by the Governments nut
higher law fixes the relative vanc OF all commodities
As measured by this standard. We may BY our ;aiii
tax law. affect the relative value OF commodities, but
W. cannot BY direct legislation f. tho value Of any
commodity either in gold or paper money When the
attempt has been made the result has been 10 advance
rather than to decrease the yalae Of tie coDnodiiy
AL efforts to fix the value Of gold 6S measured bY
currency have failed We may make penal The
purchase sale Of gold we may deny the use OF our
courts TO enforce such contracts mOy prohibit Tue
expectation Of gold; We may deter sales of gold By
heavy taxation; yet after all the price OF gold rie'
rad fails national credits rise and fall.
~ strengthening our army. II produces a
fall OF gold measured by our standard. So fT as II
merely discourages trade in gold ANY other com-
modify. il Increases its market yelne. IL Is IN axiom
az political economy, proven by the experience Of a
nations 10y every form OF government despotte mon
alcca republican that the relative vaae OF al com
modities is beyond the power Of legislation. We NAV
Tx the standard Of value; may ia the tax on the
commodity and there our power ends And especially
j. this Of gold. which in ali civilized nations Of the
GRID. except with nations for time involved IN war,
As everywhere the standard Of valne. 1t is manifest
herOfOre that the first duty of Congress j. tn keep our
lawful money standard OF value as near possible
o. the standard Of gold and this only be done by
limiting the amount and by making II valuable 10 pay
SaXes or loans Ii can only be redeemed by the
Government by taxes duties and every tax duty.
hoHevor oppressive TO the Individual which wiihdraws
for a time our paper currency brings 1t nearer The
standard O gold. The power to make money by issnng
Il gal tender bills is now exhausted More than enough
DOW outstanding 10 supply currency The issue ozone
hundred millions more "ohid not only increase our deDt
10 that amount but would add even aquaIter more TO
expenditure by the increased price of commodities
consumed by the while the imposition of an equs
amount Of taxes gives value 10 currency. AMI this
bay An increase OF paper money benefits the taxpayer
now 9. the expense of the soldier II reduces the pr
CHASING value OF the pay of the soldier while BY ccS
ing currency itts made easier for the taxpayer TO
psy a specifc sum. In the end however the tax. by
she increased cost Of food and clothing and transpoa
tOn OF The army must finally be PAID in gold.
assume then. that While the necessity for raising
these vas; Is still imperative. yet our mode Of
doing IT, and the easiest is exhausted loans and taxes
are Ous only A loan must he voluntary. 1t
may extent be induced by patriotism In this
thousands Of patriotic people men, women aud
rt dren rich and poor alike have loaned their savings
10 the Government from purest motives. Inc ad.
Inirabe system OF distributing this loan ny going out
from money centers 70 remote hamets ana gam
ering from the small savings OF The people iaAer than
from the earnered treasures Of the Teh has proved
a%onderful success. Yet after all, to borrow money
YOU must appeal to the sefintercst Of the lender a
great nation borrowing money will be tried by the in
Serested tests applied by the pawnbrOker a. ms ahyc
ing victim. The more 1t wants 10 borrow the more ~
must pay The terms upon which We now DoTroW
prove that we have pressed this resource as far us
1xpeden. Tested by the present standard oi goa (
We nov nav seven and threetenths per cent ioi tneo
years and twelve per cent afterward. until The debt Is
paid in spd We promise w,h 10 ,d pay N Sa i've ss
,S fire: ys ssa. us seven s S sreessh in cur
,ency and we receive for this promise which canno1
be fulfilled to the uttermoSt one Thousand uohas ~ ,
ysney which viii buy soldiers no more food than
a. hundred dollars in gold. But this Is not al be
Animate that this property lent us shal De e1enpt
tom an burdens which this war costs upon 81 Other
property Of State. county ana inuicip III
dare not extend IL except ior wv
highest object Of national existence. mheh see
money TINS borrowed expended IN ti,ial oulcch,
.nnot hut look forward 10 the slow and hard process
Inv which Il must all be repaid In gold, win interest,"
accumulated and accommodating through the aSenSs Q,
collections by the inqIsltOria process Oh tnis p eh
from tue labor OF the poor III yon hanc though. "a.
bsrI and close as 10 salaries and expenditures trust
von vi do me the Justice 10 believe that u IL not o
ny doubt o! the ability Of country 70 pay, OF aVor
,. and bare desire for cheap reputation or ron
Discrimination 70 pay my stare pu. peeaaSs svo ~
between capital and labor between the rich and Inc poor
between fund holders and property holders iha ".
MARKED the history OF Great Britain for the 1885, bii!
wears | do lot wish our pubic deDt iheieasea or
a,lsr bsyond the necesstes Of the present waa and
fhe only way TO prevent this increase Is 10 rcsilc our
expend.trres to the lowest limit consistent Win inc
r,ubc service and u increase our taxes l" be h4es
aggregate industry VIII bear
HOUSE OF REPRESENTATIVES,.
AMEyDATORY IMlORT BILL.
Mr. MORRILL, from the Committee OF Way
and Means reported bill amendatory OF the aei iia