New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1866-01-22
FINANCE IN CONGRESS.

From the outset, we have not doubted that
the Importing interest and its organs would Ill
due time be found arrayed against Resump-
ton of Specie Payments. We know that our
Currency Initiation, with tho consequent mgh
prices, extravagant living, &C., &C., tended
directly to increase at once the business and the
profits of importers, and that they would be
found, through their organs, seeking to prolong
this initiation to the utmost. Hence, the re-
pugnance to an early Resumption evinced
through The Commercial Advertiser, The Herald
&C., seemed quite matter of course.
The Erening Post has traditions and instincts
from which we hoped better things; and its un-
qualified, though tardy, Endorsement of Secre-
tary McCulloch's Fort Wayne Speech fora time
justified our confidence. But its relations with
the importers are too intimate and confidential
for even its most cherished principles: so that
at last we have it ont square against ReSump
ton.
No, it will say; not against Resumption ex-
actly; only against particular effort looking
to Resumption. But the distinction is illusory,
as we snail proceed 10 SLOW.
Mr.. McCulloch, banker Of large, successful
experience and of unblemished repute, is Secre.
tary Of the Treasury. He confidently believes
that our Government ought to and might
promptly return to Specie Payments--that good
faith, National honor, and the true interests of
Industry and Commerce. concur in demanding
it. In all this, he is backed, as We know, by
the President, his superior. So he goes to Con-
gress, and says, "Give' me power to fund the
demand or short.time indebtedness of the Gov
eminent in six per cent. bonds, payable at such
times as shall find best, not exceeding forty
years, and will endeavor to bring the coun-
try back to a currency at par with SPECIE"
The proposition is very simple and clear. Of
course, it implies trust in the Secretary; and so
does any possible alternative. Any Secretary
of the Treasury, during period Of Suspension,
can easily make bis fortune ont Of his position,
if not restrained by a sense of honor and duty.
He may pocket a cool Million any month, and
the public be never the wiser. Mr. McCulloch
is anxious for the earliest termination of this
exceptional and perilous condition; SO arc VIC.
He has submitted to Congress short and sim.
pls bill which, we arc confident, would, if
passed, bring the Government to solvency and
the Currency to par with specie within the cur.
rent year.
Now see how The Post assails this most neces-
sary measures.
"Mr. McCuoch asks In this bin that Congress shall
devolvs upon him absolute power over the money mar
ket and leave 10 bis cole decsion. 70 Do made here
ser what Is to be the financial policy OF the Govern.
me nj with power Of course TO change and vary that
elf be may choose 70 chan mind: ne ooes
not inform Congress what 10 plan Of his hnan-
cisl campaign; asd Of course. the people. 70 whose
daily business and daily comfort It 10 import.
ant "a know what the Government 10 about
- 40 IN these matters arc eft, with Congress- sbso
iutsv In the dark q to the future 1--we are not mis-
informed Mr. McCuloch distinctly insisted before tne
Committee, upon having this soso'uss power oros'