The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-07-02
Inroms or tho Govern ment.


that the income Of the government from all
sources for the fiscal year which ended Satur-
day, June 80, will reach the enormous sum OF
five hundred and fifty millions Of dollars. or
this three hundred and fifteen millions are do
rived from the internal revenue, and two hum
dred and thirty-hye millions from other sources
One hundred and seventy millions came from
customs. Five or six years ago, just previous
to the war, the total income of the government,
and consequently the expenditures, did not
reach onc-seventh or one-eighth Of this sum.
Sixty or seventy millions q year was oon-
sidered then large revenue. What revou-
ton in our financial affairs, as we'll as in our
social and political condition, within the brief
period Of few yearsl The customs yield
nearly three times the amount Of our entire
revenue anterior to the war. Ono hundred
and seventy millions year in the way OF
duties on foreign importations ought to be pro-
lection enough to home manufactures; yet we
hear the rich manufacturers of New England
and Pennsylvania crying out Justify for more.
II is time that the masses OF the pcoplc-the
consumers-who have to pay this in increased
high prices, and that the great agricultural
interests of the West and Middle States, and of
the South, If it had a voice in the matter,
should look into system of legislation that
benefits u few and particular section ut the
expense OF the rest Of tho country. Congress
has been for some time, and IL now, under the
control of New England and Pennsylvania
protectionists. II will be well for the mass of
the people everywhere, and particularly in the
West to remember this at the approaching
! Congressional elections This great country,
Notwithstanding its many and varied interests,
has been governed long enough for the benefit
of one class and o small section.
The statement ofsuch an extraordinary amount
of revenue must be highly gratifying to cvory
American, for 1t shows the won ieriul resources
of the country, and our ability to meet without
difficulty all our liabilities, or to pay the entire
national debt within reasonable period.
These resources, too, will increase every year,
and the burden Of dcbt become less weighty,
| II we have peace and q restored Union, and II
our finances be properly managed. But with
| all these means and wealth, with all our capa-
bilites and the bright prospect before US. we
may throw away the advantages we possess
and be plunged into bankruptcy and ruin.
The imbecility, corruption and reckless ex-
travagance Of Congress are the evils we have
| most to fear. The members Of the present
Congress are, for the most part ~ ignorant
OF the duties OF legislation, and especially Of
national finances, % children. They are mere
| local politicians and cannot raise themselves
up to the height Of great national or inter
national questions. Their vision Ii limited TO
mere party politics and their own selfish
schemes. Any one who has taken notice Of their
proceedings during the present session can come
to no other conclusion. Then, as TO corruption
| and reckless extravagance, we have only to
look over the list Of bills passed and before
corrupt and reckless Congress that ever sat In
Washington. Tens Of millions are appropri-
ated with less thought or consideration than q
few thousand dollars were in former times, and
that for the most Infamous jobs. The very
atmosphere Of Washington reeks with corrup-
ton. We state what Is notorious to every one
acquainted with tina. city or watches what Is
going on there. Here, then, lies the danger,
that oil our resources may DO disspated and
only help TO make corrupt and extravagant
Congress more corrupt and reckless still. Our
only hope Is in the peoples that they will
be sufficiently enlightened TO return at the
forthcoming elections . different and better set
Of men. But we not only need thorough
change In Congress, but want more capable
administrative officers. Mr.. McCulloch, doubt
less, IL very respectable man and good
country banker, but can he grasp the vas,
subject Of national dnanoef Oh, how much In
need OF statesmen Is this great countryi I'm.
control Of our resources-of an income Of. Eve
hundred and my millions, and what would he
do with III Taxation would be lightcncd, our
legal tender currency would soon be at par
with gold, and the national debt would be but
tribe, aud would be put In process Of liqul.
dalton ut once. Our actual situation may be
compared to that OF q rich srgosy ffeighted
full OF the most valuable treasure, but In the
hands Of incapable officers and stupid crew.
We ought 70 begin 10 retrcnch In every de-
partment OF the government, and reduce the
| revenue down 70 three hundred millions
| Taking two hundred and fifty millions . year
! from the burden OF taxation would be an Inn.
mense relet. Three hundred millions ought
70 be ample to pay the interest on the debt
current expenses Of tho government, and TO
have 1 margin Of twenty or thirty millions as
permanent sinking fund 10 exlingush the
debt. Ia iact, If legal tenders were TO be used
instead al the national bank circulation for
our currency, three hundred millions Of the
interest bearing bonds could be bought up or
retired AZ once, and the amount thus saved
could be applied as sinking fund. We urge
upon The people TO consider, and tho new con-