The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1867-05-31
National Finances.

National Finances.
Mr.. McCULLocu, Secretary Of the Urea
sury, addresses an unofficial letter TO
number Of gentlemen in New hnelana WIZ
proposed to extend to him some civliities.
We publish this letter in this morning
Dispatch. Mr.. McCrLLoCH takes occasion
to al,ude to the subject of the national
finances, and although he makes known
nothing new, what he says gathers impor-
tance by coming from him.
Being compelled to decline on account
Of his duties, he gives some idea of the
pressing nature of his situation. He as
Sures his friends that they need not lock
for as favorable monthly statements of the
Treasury for the remainder of this and the
early part of the next fiscal year as TN,
past. The huge appropriations of Con
grcss to soldiers bounties, other large ap
preparations, and the Indian war, are occa
sioning heavy drafts on the Treasury, say
Mr.. McCULLoCH, and he no doubt has hi
hands full. The revenues, Mr.. MCCuLLoCI
saws, will be very considerably affected OF
account of the failure Of the crops las
year, "the slolo progress Of Tie reStoro'lo'
"of the southern States Ia their proper reld
",ionS rih the Federal Government" Tn,
dullness of trade, the rejection from Tx
excitement of speculation, together VIII
reduced taxes. This combination oil al
verse circumstances, he says, may retaro
the return to specie payments, while 1t has
checked his policy of reducing the cur
rency to pave the way to it. lie says,
moreover, that the public debt may bt
temporarily increased; and when the Sc
cretary of the Treasury says that, OF course
he knows ii will be increased.
This is not at all hopeful view OF mat
tiers: and Mr.. MCCrLLoCH cannot expect
any very great Improvement until there Is
a complete pacitcation of the country ano
q more economical administration of the
Government. We have but TO look 10 the
southern States TO see the dreadful effects
Of the uncertain and threatening condition
of the political affairs of the country.
This is what produces starvation" IL
some parts Of the South, and will con-
Time to do SO as long rs this condition OF
affairs itself continues. Congress ma!
vote millions to fill the mouths Of the dcS-
titutc, but that will not stop starvation. Ii
is the case with all countries kept in
CONQUERED and DISTINGUISHED condition.
Starvation is the extreme manifestation OF
that general prostration CT public Interests
fatal to "revenue." Nor can Mr.. MCCUL-
LoCu lie expected TO diminish the public
debt as long as the Legislative branch OF
the Government is heapng up appropria-
tons a large part OF which are altogether
unnecessary, and designed for political
party advantage 10 the dominant party ID
the Federal Government.
Mr.. McCULLoCH speaks like an amiable,
overburdened man. He suggests good
rules: to be economical; 10 rely upon agrl-
culture and other sources Of production
as the best means to restore national a.
we'll as individual prosperity. But all
these will not avail with such extravaganza
as marks the administration of the Govern
mcnt:-which is now Congressman mea-
surcs that look TO mere party advantages
without respect TO the best interests OF tie
country, It's peace and its prosperity.