New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-02-04
HOW TIE MONEY GEES.

HOW TIE MONEY GOES.
The current expenses OF the Federal Govern
men; arc not less than Three Millions OF Dollars
per day, or over One Thousand Millions per
annum. Abont One Million per day is raised
by taxation, in aidi.ion to tie heavy cost Of
supporting our state aid local authorities,
Roads, Schools. Public Charities, &C., &C.,
leaving some Two Millions per Gay, or Seven
Hundred Millions per annum to be added to
our vast National debt. Ills money We are
in part borrowing in Europe at the rate Of fifty
cents Oh the dOlar-tGat l., we get fifty cents
for every dollar We promise to pay--and so are
agreeing to pay two dollars for one, with ten to
twelve per cent interests aud good many Of our
own people refuse 10 lend their Government even
at these monstous rates. To-day, men are
rishing their funds in all manner Of Wild specli-
laticns in preference to lending them to thor
country on terms more favorable to tie lenders
than great, rich, energetic nation ever Offered
til now; and prudent men choose to take their
interest in grecnbacks on bond and mort.
gage rather than in gold on National bonds.
Ii is Ear within the truth to say that our coun-
try is running in debt One Million Dollars per
day or Three Hundred Millions per annum
more than she need or woald if hor credit were
as good as that of William Is. Astor or Of Great
Britain. though the British Na,iona. Dobt il
considerably larger than ours.
Such are tho circumstances under which
with gigantic war for the National existence
IN Houon .f tof a.
sees fit to pledge the National resources and
credit TO two new works of Internal Improve
ment-a Ship Canal around the Falls Of Niagara,
and another connecting tae waters Of Lake
Michigan with those of the Mississippi. These
works are of course estimated to cost less than
Twenty Millions; but no Forty Millions will
ever complete them. Their pretexl is National
defense; but nobody inagines that they can
be constructed during the present war or for
several years after its closc. They could
be- useful in NO war but one with Great Britain,
while the money they would cost, wisely cx-
pended, would suffice to sever peacefully the
connection between the Canada3 and Great
Britain. IL we shOud ever again be 10 unio;-
tanate ar to be involved in war with the British
crown, there will be men who would take o
contract to put the enemy out Of tho Canadas
and bar the door after them for less than the
cost of these two canals; and they would do the
job before asking for their pay.
But what use in running down the false pre-
lenses under which these schemes arc pushcdi
Every one knows VINO knows anything that
they are not initiated with any view to National
defense or Military operations--that they are
simply raids on the Treasury for personal and
local ACKNOWLEDGEMENT. They are intended, IL
make the fortunes Of individuals, some Of whom
are after money, Others intent on Office and
political consequence. They are grabs, ON the
principle Of each for himself and the evil ono
take the hindmost.
We are not denying, and will not now dis
CUES, either the abstract utility or the ultimate
feasibility Of the works in question. OF course,
they can be made, with money enough; aud
they will add somewhat to existing facilities for
internal commerce. Their construction mny a,
some future day be advisable, though We can
not readily admit that the Federal Treasury
should ever be sa!dlcd with their total cost.
But TO compel it to shoulder the load moe,
when our oyerstrained Public Credit il where il
is-when our heroes in tho field ore vainly asking
for theirhard earned pittances to feed and clothe
their needy wives and children-whcn some BIZ
gados have had no dollar for their last six
months service, and are becoming mutnons
and unseryiceable because unpaid-when no.
body deals with the Government who can find
any other customer, because payment is with
held TO the last moment, and then oftener made
in certificates Of indebtedness which must DC
sold at heavy discount--when everything
says and drags for want Of money, and because
tho National credit is 30 dubious-did human
infatuation and shOrt-sighted greed ever before
prompt such compound Of insanity and prac-
teal treason