The New York herald., 1865-07-18

~ A ~ AOOV'
markets which 70 sell itself TO competing bidders The
maintenance Of our national debt Is protection The
Destruction Of ~ Dy payment is bondage again TO the
permanent revenue tariff will be necessary 10 enable
rent expenses Of the government This tarif upon
foreign manufactures necessary in ITSELF is also
ssry 70 sustain 'ne 'pcrna sxason and excise system
manufactures from being washed away by impOrta-
tons. We can have no Trustworthy and increasing
internal revenue without have permanent projection
The loss from revenues imports il any follows the
increase of domestic manufacturer will certainly be
made up BY the increase OF Internal taxation
Protection excise essential TO each other Both
necessary 10 sustain the national debt Neither alone
could uphold its weight And without the national debt
pensaby necessary qualities OF steadiness and perma-
Under these alone do industry and trade develop
and flourish, and States become wealthy free and
powerful
The retention OF national debt necessary as tho
basis OF system OF national banking The bonds OF the
United States accepted throughout the United States as
the highest security, and having uniform value in
every one q the states are s1S only % re and safe squya
uniform bank note currency that shall be money all
the republic. Commerce demands this uniform
once current in Massachusetts, and Alabama that has par
value n Nebraska and South Carolina in Virginia and
New York. that taken and PASSED without scrutiny
suspicion by the advocates Of slave labor advo
Gates Of free labor BY extremists in the South and BY
ress In the North BY the people Of the two seaboards
down the sectional barriers which the doctrine OF
State rights and the partisanshp Of politics have for
sd camps Of division and civil war And the uniform
national banking currency will perform this mission.
There not now any other basis for this currency nor
any other DO devised than the debt Of the whole
United States The issue of national bank notes at pre-
sent restricted to and the States in rebel
lion have begun be reconstructed and the national
banking system has hardly crossed the Mississippi river
No will say that that volume of currency is enough
for the coming wants OF the nation who considers the de
m nm in IA
vgorated Southland soon in the West and the far North
west-who considers the prodgious immigration that
grounded arms and which will for years food to US
from Germany, England, France, Ireland, Norway and
and arts from Europe to America by tariff system
that promises lasting rewards to labor In the midst Of p0
ltcs that labor with freedom and social equality
who considers the marvellous development OF industry
mining manufacturing and agricrltural-Of which our
country is destined soon to DO the theatre, and every
hour of every day Of which will demand currency as the
This is not hazardous opinion which declares that in
less than twenty years our national bank note
will be thousand millions dollars Bear in mind that
there the United States thirty millions OF
people, that for the last half century the population
of country has doubled Its numbers in every twenty
three and halt years The currency that sixty mil
lions Of people, uneQuaed in industry and untrammeed
in enterprise will require has got 70 have ne oass OF
national debt There s other foundation Tor IL 10
stand on that viii! mpart TO It ut once security ana ma
tionality
The national debt should be retained as national
wings bank for the earnings OF iaborng men and women
national guardianship for the estates OF widows and
ophansas the faithful national trustee for the property
of retired from busness-Of farmers and mechanics
and generally of all those who are inexperienced IN
AFFAIRS and who desire TO be safe from loss free from
care and relieved OF the expense of management and
the and pers Of agency In this regard the reten
ti0n of the debt solemn governmental duty That IL
not civilized State in which legal provision is not MADE
for the absolute security the property Of citizens too
old or too Young to administer it themselves-which
does not afford safe investment for the earnings OF that
class Immense in numbers which has no financial Judg
ment, and which is ontnuay exposed 10 b, prey to
the organizers Of fraudulent insurance companies un
sound banks unneeded and Improbable railroads. bot
tomIess oil companies unproductve mining enterprises
losing savings institutions which s exposed TO loss ny
flaws or usury in mortgages by invalidy OF bonds
There be mistake about thirty mortgage
the United States OF America In 1t there Is no risk
and bo loss Aboat 1t att0rneyship need hover
and gnaw Women and children Gun collect their in.
come from it with no more expensive agency than pair
OF scissOrs
The national debt made permanent, would change the
politics Of the by introducing into 1t tbs ever
leading clement Of public economy. Parsanship would
b, toned dOwn-admnistration would be more closely
watcbodrcsponsbil and and integrity would be
more and more demanded Of public mon and Of candi-
dates for Office great balance wheel would DC INTRO
would check passionate movements and restrain disor-
dcrly tendencies
ment the interest only would avoid the wrong OF call
ing this generation to discharge an obligation con-
racsed N sne interest OF ne nation ior an lime @
except by appoOnng the interest to generations after
generations, in perpetIity
There is occasion for apprehension n any quarter
that the annual burden of national debt Of 900
will opprss the people and hinder tho Development or
tho resources of our country Tho nation as it s in
numbers power and spirit carry the load airily and
koep the route-step too on its march to empire Tho
internal system wo have faulty as i is in CON
trvancc and imperfect in its working through our ncx
perence of such machine, would OF itself sufflce TO
raise than the interest OF the debt and TO throw
or the English French and German machneries OF tax
collection The public will be astonshed ana not con
tent to learn that Of tho 100 zoo o0o gallons o! Whisky %
pay the excise duty; that 60 100000 gallons slip
through our collection, or hide-do somehow got
drank untaxed, remanufactured in safe defiance
of law; that S120 900 from this ono source and
righteous OF yearly lost TO the
national Treasury want of collectona of money
practically attainable that is within forty five millions
Of the whole amount Of the yoars interest on the entire
national debt Save this needless waste. Gather the
whole Of the income which our tax law is framed to
yield. Cease to lose three quarters or any part OF it,
The power of the nation, vgilaptly and faithfully
Piled with the aid Of adequate penalties for the infac
ton Of the laws to be enfor ed without fear favor
affection, ID surely equal to the collection OF every dol
lar OF revenue from system at once simple ana popular
by It's limitation 10 few leading articles of production
ReviA the excise system itself Knock the inquistoria
and annoying features out of it, Quit counting the tea
spoons Of the people. stop feeling In pockets for
watches Cease this inspection OF buggy wheels
and counting Of harnesses and the spectacied peepng
into the work and ,S s.s% of o
line nngers that should be hoeng corn, the boDnets
made by uilliners and the manufacture of rainbow
with which the people light their candles great nation
should scorn such sources OF revenue A free people
should be freed from nquston into Its domestic life by
salared officials The pride of nation its truthfulncs
Its reasonable right Of privacy in conducting its business
should be sacredly shielded by law Petty sources of
tho United States OF America should be flung
away To the utmost possible extent personal annoyance
should be avoided ia gathering this income Tho reve
nues that collected the hcarthstones and In the
barnyardsal those that irrtate In the gathering and
consequently demoralIze should be scornfuly aban-
doned by and shat too, right speedily and for over
Indirect and not direct taxation should be tho order OF
the day The English have no trouble In raising the i'm
amount OF yearly revenue required TO carry
their and keep down the interest their
debt They, wiser than we, get II almost wholly out of
six artces-spiriis, wne tobacco sugar tea and coffee
After hundred years OF experiment in raising public
income the English have finally set up their principal
machinery for s collection In custom houses and dst
leries Let us initiate their proven wisdom.
Secondly there s no reason TO apprehend that the
interest Of the national debt will be burdensome the
people and oppressive 70 the development OF the
sources Of the country, because after legislation has
readused the internal taxes and the excise, and rc
Il