Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1867-12-11
The Tnsk Of Conrres..

Influential members Of Congress have en-
deavored to ascertain from the bankers, mer-
chants and tradesmen Of New York and other
cities their views as to the financial measures
expected Of Congress, and have been embar-
raised and disappointed to find that while all
said that Congress must do something, no
two agreed as TO what that something ought
TO be. Still it may be assumed as an impor-
tant point to have arrived at the conclusion
that Congress is expected on all sides to
adopt some new financial measures for the
relief Of the country. Some want a higher
tariff, some n lower; some want more paper
money, some less; some want to substitute
g~reenbacks for bank notes, some to su6sti-
tute bank notes for greenbacks; some want
all national securities payable in gold, prin-
cipal and interest, some want them payable
all in ~grcenbacks; some want the e~Shnguish-
mcnt Of the national debt to go on faster,
some want the whole proceeding arrested,
and the payment OF the debt left TO posterity;
some want the national banking capital in
creased, while others want the whole system
abolished, and so on to the end Of the chap
ter.
In this multitude Of counsellors and con-
fusion Of counsel it is u troublesome matter
for q member Of Congress whose duties and
antecedents necessarily make him more polt
ical than financial to know what course to
pursue. II the organic bodies that represent
the trading interests Of the country had any
definite views on the subject, Congressman
might look to them for advice in this crisis.
But Us \ general thing these bodies either
have no views or are afraid to give them
expression, lest they might be construed as
having n political bearing. Nor is 1t likely
that their views would, il uttered, have any
great breadth. The national banking, now
so universally popular, would have cncoun-
tered, when first preached, the unanimous
condemnation Of these trade organizations,
had their opinions been asked. Congress
must, therefore, make up its mind to act for
itself, from its own knowledge Of the wishes,
interests and necessities Of the people. The
trade organizations think only for a limited
class and restricted localities. Congressman
reflect the interests and wishes Of all.
There are, however, some points that we
may consider as being settled by common
consent, and il is important that they should
be borne in mind. First, it is agreed on all
sides that there must be a reduction OF the
internal taxes; second, that the load OF inter-
est on the National debt ought be reduced;
third, that the manufacturers ought in some
way to be relieved from the burdens under
which they now suffer; fourth, that the cS-
penses of the National Government should
be reduced very largely; fifth, that unless the
Secretary Of the Treasury can show a rca-
sonablc excuse for maintaining so large a
balance idle in the Treasury, it should be APP
piled to its legitimate use in paying Oft the
obligations Of the Government.
The first and third Of these points naturally
come together for consideration; since if
there be any lowering or abolishins Of taxes,
the productive interests OF the country ought
to have the benefit Of it. There is a great
clamor to obtain the removal Of the cotton
tax; but If the removal Of that tax will ncees-
state the retention OF any Of the numerous
taxes on domestic industry, the cotton tax
should be retained. Our W impression
has been that the tax should be reduced on n
sliding scale of half n cent n year. As re-
CARDS contraction, we do not think that Con-
gress ought to allow the destruction Of green
backs TO go below the point Of permitting
three hundred millions to remain in circula-
ton for the redemption Of the National Bank
notes. II Congress authorizes an increase
OF the National Banking capital for the coun
try south and west Of New York, as wethink
il should, such action as this will be impera-
lively neccssary.-North american.