The New York herald., 1867-02-23

liOn Ol tue oOutu. Ii dis way nc Will hot oc
responsible for what a superior power may
ordain, and will be doing his duty simply and
constitutonally in executing the laws. Thus
he may remain in office to take up and recon-
mend other great measures. Within the two
years of his unexpired term he may do much
good and acquire q solid reputation.
The main questions to which he should turn
his attention, as we have said before are those
of the tariff, our national finances and the
national banks.
AS to the new tariff bill, we do not use too
strong term by calling 1t positively infamous.
II is made by and for the interest of a few
manufacturers The mass Of the people are to
be moro heavily taxed than ever for the sake
Of an Insignificant portion Of the population.
Every laboring man, the great body Of trades
people and the vast agricultural interests Of
the whole country have to pay from thirty to
fifty per cent more on almost everything they
use or consume than they used or ought to
pay. The revenue il much too large, and an
average reduction OF thirty per cent might be
made. With the increased consumption, di-
minished cost Of collecting duties, especially
II tho revenue were to be raised chiefly on q
few articles of luxury in general use, and with
the consequent increase of expectation of our
own products, the present burdens could be
reduced fully the amount named. The reve-
nue. would be ample with such change in the
tariff The changes made in the present
bill, compared with the existing tariff
are not in favor of the consumer, except in
q very small way, while nearly all the modi-
fications are greatly in favor Of few manu-
facturers. The burdens are increased on the
whole instead of being reduced. The measure
is very unpopular, particularly throughout the
great West The press, Of all shades Of opinion,
in that mighty section of the country denounce
it in the severest terms. The radical news
papers are as denunciatory as the democratic.
However much cohesion there may be in the
dominant republican party on reconstruction
or other purely political questions, the repub-
licans Of tho East and West are widely divided
on this one. Should Mr.. Johnson adopt de-
termined anti-high-tariff policy he will not find
the party united against him. The New Eng
land republicans may be very bitter; but those
Of the West, as well as the bulk Of the people
everywhere will be with him. Here, then, is
golden opportunity which he ought to seize at
once.
The President has also fine field for The
exercise of craftsmanship in the national
finances Economy and retrenohment are i'm
peratively demanded. Congress and the de-
Loc In ~nA l.
travagant with the peoples money. Hundreds
OF millions are looked upon and squandered
with Less concern than few millions were FIVE
or six years ago. Washington is the hotbed of
corrupt schemes and jobs. Let tho Presidcat
expose these and point out the wsy of safety
from them. The revenue should be brought
down to the lowest point and strict economy
should be recommended in explicit terms.
The national debt should be cons )lidated and
be of uniform character, with reduced rate
of interest, all in lawful money. A sinking
fund.- perpetual and insiolable, should be estab-
lishad with view to liquidate the entire debt
in thirty or forty years. Such are the chief
features in our finances to which Mr.. Johnson
might devote his attention with credit to him
self and great good to the country. There is
already large party in Congress- and much
larger one proportionately in the country,
ready to aid him In the work.
Lsst but not least, let him take decided
ground against the abominablc system of ma
tional banks. The old Bank of the United States
which Jackson squelched was pigmy COM
pared with this gigantic monopoly and danger
Gus political machine. There never was in the
history of any country before such dan
gerous system. The so-called national banks
take directly from the government over
twenty millions of dollars year; that is, the
government has granted them the profits Of
circulation worth that, all of which could be
saved to the Treasury. The banks give nothing
whatever in return for this; it is an abso-
lutte gratuity to a few capitalists. So far from
the national bank circulation beng benefit
the public would much prefer and be far better
off with uniform currency of government
lawful money. Why, then, should we squander
upwards Of twenty millions year upon these
insi.utionss But this is not the only evil.
The banks are fast absorbing and will soon
ABSORB all the pronts OF industry throughout
the country. The industrious classes will be-
come merely the hewers of wood and drawers
of water tor the bank capitalists and monopo-
lists. The enormous dividends OF the banks
show how rapidly we are tending to such
state Of things Besides, these associations
will in short time become the supreme power
in the republic. Through their wealth and
influence they will be able to make Presidents
and Congresses and control the Legislation Of
The country. Now is the time, before they
consolidate their power. to break them up.
Here, again, is a fine opportunity for Mr.
Johnson 70 fsstore bis popularity. Il he does
not find himself equal to handling these qu-s-
tions in large and comprehensive manner he
should call to his AID the first talents in the