The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1867-02-25

| TO make no useless resistance, and taltnillly
execute the laws which Congress may pass for
the reconstruction of the South. In this way
he will not be responsible for what a superior
power may ordain, and will be doing his duty
simply and constitutionally in executing the
laws Thus he may remain in Office to take
up and recommend other great measures.
Within the two years of his unexpired term
he may do much good and acquire solid repu-
tation. a.....
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. ..' t -.
As to the new Tariff bill, we do not use too
strong term by calling il positively infamous.
1t is made by and for the interest of few
manufacturers. The mass ofthe people are to
be more 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 is much too large, and an
average reduction of thirty per cent. might
be made. With the increased consumption,
diminished cost of collecting duties, especially
if the revenue were to be raised chiefly on
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 re-
venue would be ample with such a change IN
the tariff .. l'. .."
The changes made in the present bill, COM
pared with the existing tariff are not in favor
OF the consumer, except in very small way,
while nearly all the notifications are greatly
in favor of few manufacturers. The burdens
are increased on the whole instead of being
reduced. The measure is very unpopular, par
ticularly 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 newspapers 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 Republicans of
the East and West are widely divided on this
one. Should Mr.. Johnson adopt determined
anti-high tariff policy he will not find the party
united against him. The New England Repub-
licans may be very bitter; but those of the
West, as well as the bulk of the people every
where, will be with him. Here, then, is a
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 retrenchment are i'm
peratively demanded. Congress and the de-
partments have been and are recklessly
eXtravagant with the peoples money. Hun
dreds of millions are looked upon and squan-
dered with less concern than few millions
We're five or six years ago. Washington is
the hot-bed of corrupt schemes and Jobs.
Let the President expose these, and point out
the way 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 consolidated, and be of a uniform character,
with a reduced rate of interest, all in lawful
money. A sinking fund, perpetual and in
violable, should be established 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 himself and great
good to the country. There is already large
party in Congress, and a much larger one pro-
portionately in the country, ready to aid him
in the work.
Last, but not least, let him take decided
ground against the abominable system of
national banks. The old Bank of the United
States, which Jackson squelched, was pigmy
compared with this gigantic monopoly and
dangerous political machine. There never
was in the history of any country before such
a dangerous 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
nothing whatever in return for this; it is an
absolute gratuity to a few capitalists. So far
from the national bank circulation being a
benefit, the public would much prefer and.b
far better off with uniform currency of
Government lawful money. Why, then,
should we squander upwards of twenty mil
lions a year upon these institutionst But
this is not the only evil. The banks
are fast absorbing and soon will absorb
all the profits of industry throughout
the country. The industrious classes will
become merely the hewers of wood and draw
ers of water for the bank capitalists and
mOnopolists. The enormous dividends of the
banks show how rapidly we are tending to
such state of things. Besides, these aSso-
Citations 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, tc
break them up. Here, again, is fine oppor
! tunity for Mr.. Johnson to restore his popu
larity. If he does not find himself equal tC
handling these questions in a large and com
| prehensive manner, he should call to his aiC
the first talent in the nation. There is ability
enough among us. Let it be sought and used
Let us have such message from him on thes
important matters as will arouse the country
and rally the people to support his new grand
and statesmanlike policy, and his administra
ton may still be a great success.
Our Financial Dangers.
From The Tribune.
A very proper complement of the late pro
ceedings in Congress on the currency question