The national Republican., 1867-05-30
81 Notiee.-rhe DAILY NATIONAL RnPuBLr
WHAT Is THE PROSPECT.

VIII At Is THE PROsPECTf
Our article OF more than q week ago
upon the financial condition Of the Gov
ernment has excited some attention, and
inquiries are instituted in various quarters
as to the prospect before us and what is to
be done to meet the current expenses Of
the Government. Mr.. McCuLLocH is con.
fdent and sanguine that he has it in his
power to meet all the demands upon the
Treasury, and to carry the Government
safely through without any additional
legislation. We are no alarmists, and we
therefore accept the Secretary's assur-
ance that he can meet all the demands
upon him with satisfaction; and we know
the country will hail with delight the calm
and assured spirit O.! the Secretary; and
though he may not be able to reduce the
public debt, he will nevertheless, be able
to carry on the Government without fur
ther legislative aid.
There are some things, however, that
the business community cannot afford to
lose sight of. In the first place, all sorts
Of trade and business is now greatly re.
tarded, and, for some cause or other, prices
for every article Of prime necessity are
exorbitant; and though the wages Of
labor are unprecedently high, the poor
man and the mechanic finds it is hard to
live. The merchant and the tradesman
finds his profits greatly reduced, and his
business largely circumscribed; indeed, he
feels that he is poor. Whether it is so or
not, he thinks it so, which is just the same.
Evidences Of this are seen oil around us.
These facts cannot be ignored If there
is no good reason for all this, the business
community think it a reality, and there
fore it is q reality.
There is another fact which is patent to
ALL The pleasure travel is greatly dimin.
ished, and watering places will have dis
tressing evidences OF this during the sum
mer. Personal expenses, family expenses,
and all things of luxury are being curtailed
even among those who are esteemed rich.
In the most fashionable circles Of society,
lavish expenditure in dress, cquipage and
pleasure is largely tdboOed. or course
there need be no regrets at this, still il
shows whereunto things aro tending. A
year ago this was not So Men cared but
little about the call of the tax collector,
and the luxurious tastes Of men who thought
they could afford it for themselves and
their families were INDUCED without stint
and without restraint. All this is changed
now, and our business men, instead oi
spending their money for themselves and
families, are inquiring t.low they shall save
their dollars to me-. ct the demands Of bust
ness. TaXat!Jn is now no trife, but an
onerous burden, hard to endure, and il
VIII press still heavier upon the productive
Industries of the country. 1t is not posi-
BILE to ignore this fact. 1t will press heavier
and still heavier upon us. The return ol
incomes throughout the country will moi
amount to one half the aggregate sum that
was assessed and collected last year.
We would look upon the financial pros
poets of the people and the Government
with as hopeful and confident spirit rs
possible but as VIC cannot make bricl
without straw" neither can We cry pros
perity and plenty when there is dearth an
stagnation in the land.
There is q class OF traders in this and il
all countries, who, when their busines:
does not pay, refuse to look at either the
credit or debit pages of their ledgers
but such is not the voice of wisdom. IT,
as people or a Government, our resources
are diminishing we do not improve oui
condition by ignoring the fact. The only
true way is to grapple with the true state
of the situation, and by energy and en-
lightened and persevering effort, achieve
from our falling fortunes q success. WheI
July, we believed it demanded on accoun
of the condition Of the national finances
Mr.. McCULLocH is confident that he CO
safely conduct his department without an
additional legislation. We must implicit
defer to his judgment in the premises, q
he has all the information at his comman
which can confirm the Judgment Th
fact that the Secretary can carry the Gov
ernment through such a crisis, should in
spire the confidence Of all the bushes
community and it cannot fail to have
most salutary influence upon oil the intc
ests ofbusiness, and must, with the sconom
which the people in oil circles are dete
mined to practice, lead to healthful col
dition in all the business departments {
the country.
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