The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1866-12-09

requires three-fourths Of the votes Of all the
States to ratify the amendment whereas three
fourths of the States represented In Congress
are sufficient therefore when Governor Patton
talks about concurrence on the part of all
the Southern States being necessary to give the
fully understand the question. a
Unfortunately the Alabama Legislature has
not viewed the interests Of the South In the
same light as Governor Patton, nor has it kept
pace with his progressive convictions that the
constitutional amendment Is the best and final
offer that will be made to the South; for both
houses have decided in rash and hasty man
ner that the amendment shall be rejected by
Alabama.
The change Of base which Governor Patton
has announced may yet be adopted by other
Southern leaders. II is at least significant
sign that the subject is being entertained in
the light Of common sense by men of promi-
nent standing, however stupidity the Legisla-
ture of Alabama may deal with 1t.
The National Debt and Oar National Taxa
sf lions.
No motions have yet been introduced in
Congress relating to financial affairs, and we
are therefore in ignorance Of what measures
may be adopted upon that most important sub
ject II Is stated that members of the Ways and
Means Committee and Of the Finance Com
mittee Of the Senate have recently been in
council with the Secretary Of the Treasury, and
that majority of both committees will proba-
bly, concur with such financial measures as Mr..
McCulloch may propose. The committees,
however, do not essentially govern the action
of Congress. It would appear from our pre-
sent immense revenue that even under the
loose financial system Of the Treasury Depart
ment, the public debt, which has been reduced
to little over two thousand millions, could be
paid off within period Of fifteen or eighteen
years but it becomes questionable whether
the present generation should have to bear the
whole burden Of the debt thus incurred by any
hasty legislation Of Congress. The war for
the suppression Of the rebellion was fought not
alone for the benefit Of the existing generation,
but for those who are to succeed the men who
bore the brunt Of the fight and made great
personal sacrifices to maintain the government
against its enemies 1t seems but fair, then,
that the weight of taxation should be dis
tributed so as to bear to some extent upon
those who are to come after us, and for whom
the present generation saved the country
from perdition. We are now not only paying
heavy taxes upon everything that we consume,
and taxes upon our incomes, but we have to
submit to system Of fraudulent prices in
every item Of domestic use-provisions and
textile fabrics which comprise the necessaries
Of life. These prices were created by
tho war, and they must be regarded a. a
portion Of the burden which the war has i'm
posed upon us. The quality Of the materials
furnished to the people at these exaggerated
values has also deteriorated ct the rate OF some
thirty-ave per cent, making the grievance still
less ondurable.
Under these circumstances II seems more
equitable that the period for the full liquida-
ton Of the public debt should be extended. 50
as to lessen the pressure Of taxation. With
such vast resources rs the Treasury has at Its
command there ID no necessity for overlooking
the people with national taxations in the thou
sand shapes which at present embarrass
them. II would be better to defer the final
liquidation Of the national debt to fifty years
hence than to maintain the system now recon-
mended In order to liquidate il within fifteen
or twenty years-a system which offers constant
inducements to fraud. - the proceedings in
our courts are every day developing. We trust,
then, that Congress will take fair, liberal and
sagacious view OF our financial affairs in any
legislation which they may adopt upon the
subject.