Indiana American. [volume] (Brookville, Ind.) 1865-1872, 1867-11-01
TERMS OF SUBSCRIPTION.
Work for conaress 10 DO.

in the important places, without any regard
TO precedence of time or to locality. IL
should cut the connection between It's COM
mittees and the Treasury, by appointing
aud controlling them. IL should decide
upon a moneiar, and financial policy, and
should create committees who agree with
H. IL should stop the contraction OF. the
currency The decline 10 values has been
as much as the county can stand for
time. Ii shouli stop he fnrdipg Of the
currency debt, hnd. provide lnieaFufes TO
float n on condition Of currency pay ment.
Ii should stop the disturbance Of market
values lsy tho eesfetafy az Tho Treasury,
by prohibiting the sales Of gold, aud By,
regulating the balance cf currency an the
Treasury. ' y 'Nl
II in monsirous sthatssa Government
should be a dis,urber Of market values;
now working the balances 10 its vaults so
az to give ease' % the mooey market. and
raise prices, and then making sudden
drain. or currency, locking il up in its
vaults, and throwing gold upon the mar
ket to break down values; and POW forcing
It's bonds upon the mark ct MT lower price
TO gather up money and create panic.
Aud all these operations 10 break the mar
ket aud .iujure individuals cost the Treas
ury very large SUN. liz would be inter
esiing 10 see al accurate showing of the
money that has been thrown away by the
Treasury in these "bear" operations, by
selling gold low 10 make IL lower and BY
forcing the sale of boud- spnsnodically to
make uoncS stringent, We venture TO
say that the figures would be disagreeable
for the people To contemplate. ~ q ssiltf
But this sum directly thrown awpy is a
tribe eomparea with The losses Inflicted on
the community by these speculative agiia-
tiohs Aud Ia this We do not include the
results vf stock oporaiions, for these dis.
tufbsBees sre most favorable TO stock
sperulatvrs. The stock market os--
eillaies UP aud down continually
from the Secretarys operations or from
expectations or gaesses what they will be.
Some times the prices range eight or ten
per cent each way ia q mouth, Us was
recently the case. hese ara tho .'eondi
tions most attheiise TO spectators. The
opportunities offered When monetary mat.
ter- are settled are small by comparison.
But the disturbance Of Wall 'tircet dis.
tubs The business OF the whole country.
The occasional money pauics which the Sec
retary creates there make monoy sirin-
eent throughout the country aud thus dir
tiers regular bnsipess. And therclapscs do
not remedy the oyil p.ut has been done,
nor create contidcnee The business of
ue whole copniry is depressed by these
Disturbances o. Che ,aoney market IN Wall
street, aud the tendency il TO draw the
capital OF the country into speculation
upon The Secfetsrys "bull' aud "besr"
operations. - 80
There Is no way OF regulating the See
fetary ia his sales Of gold that eau check
this peFloimahee. The only way j. to
stop thossales OF gold entirely. 1 here i.
no detDand for u but 20 pay customs, in
terest on the debt aud 20 sena abroad. We
have now coin debt that requires l04
millions Of gold for the Hnnud inieres,
This Is as much as we can collect from
customs on any imports that the country
can pay for. We are now importing more
thap lU0 millions (coin yslue) of goods
year more than we pay for by exports aud
gold. The balaace l. squared for the
time by gold bonds az less ftun so cents.
III THE stoppage OF sales should make Il
Temporary scarcity Of gold 70 pay duties,
IL would check this rpiDous trade. aud thus
would bo a benefit But with n rcqute.
ment now created 20 pay l0l millions q
year, for Interest, which by the limo Con-
gress meets will probably be iloseascd TO
Ito millions, which IL more than We can
collect on any Imports We eau pay for,
we have now provided a sufficient outlet
for our Treasury gold without any more
saies.s Therefore these eau be stopped
with relief aud benefit to the cooutry.
Congrers should set itself AZ work 10 re
form the internal revenue collection with
out delay and without consideration for
any parties. IL should az once abolish
the warehousing ystem for distilled spirits.
This l. one OF the gresf means Of fraud.
We urged IL upon that body last winter,
but the influenee Of Mr. McCuiloch pre-.
vented. Batif MIR. McCulloch is To run
the Congress il might as we'll abdcale;
for it wilt find that such mana cement will
,terminaie the existenee OF tho RepubIl =
can Congress. as soonfas the law will allow
These whisky irauds cuuld not be cou-
nitted If tire revenue officers we're honest.
There is no systeni of antouatic gauges or
other machinery that will prevent fraud
by the eonniyauce Of dishones, officers,
isnd the cvst oi purchasing new contrivan.
ces Of this sort ought 10 stop. But tho
temptations aud covers for iraud should
be reduced as much as possible The
wareh6usipg system is one OF the largest
and easiest coverS for fraud
The varehousing system is not neccs
sary to the trade. Ia itw not for the
chances for fraud, the manufacture would
be limited by the current demand for con.
sumption. And besides. ii should be
o.abollshed as dangerous to the property OF
the eommu6iiy. Warehoused spirits, the
duty unpaid. are extremely liable to spon-
nheeas con,bastion.a For tho sake oil
safety alone the duty should be required
as soon asrthee splits are manufactured
They are much less com mbustible when the
duty is paid. The drawback on spirits
exported, sbouldb abolished. The amount
really exported Is too trihing TO demand
such = provision, aud II j. u cover foI
great fnuds. The business Of collecting
the internal revenue demandso y eouiplete
Revolutions. The law thrt the sale Of
spirits ainsemsrket ,ior lees, than the tax
should be evidence of frauds upon which
The spiriisslouidsbe forfeited, isa law ,C
sapunishxipnocent parties for frauds of the
revenue officers. A disiiller may pay tax
Q hdf his product, and still sell all fol
haF a h. - Al. ~ a