New-York tribune., 1868-03-03

The Commercial and Financial Chronicle has
the following review Of the policy of Secretary McCu-
loch: According tic debt statement ~ the Lot Of April
1865 Issued few days after Mr. McCulloch's appoint
ment the aggregate debt WAS H4IL00oo' OF Which
only 81 IOO.OOJWO were funded into long bonds.
The unfundcd debt was sIJ2J.0oC!Ol glance at this
aggregate shows three very iouhrs0u' clnN's OF oll
CATIONS Fir~t there were sl4O10 ~ audi al accounts
which had bccI susp ndcd lor wait 81 means I" pay
them The LcNt II, IA isS22' 1900 ~ tlnl"r"ly " hl
certificates payable Ola csll, or hitr SNORT ht tNa'
Bs dc these tlcr were over 5000 OF other aluring
rld nS. To meet an i.cSo u' Nlfiils W hdu
no more than s. ,OGU,tO oi cash ln the Treasury.
rhe revenue from customs dulles vac la.ii
on. that iroin informal I'Vr'"t W. unc.Ii"In.
Il was proposed to ncg"tc - i,i'Ig loan. hn 20 % 90
ths directly Nas ro-ri. ~ ma a. sHyh rrl'ct ns,n
aud the feYtrsh stat" OF The currency " rouii
s"rsGg ., SsE Naanal f9Es ' Teg ~ 'S tnd ~
rcvulsion TO be stopI-d 10y fnan,'al caesrophs'
II oercd ready rolist Doc rnth was eiSN ana nllurhg
An officer less sound ad - i.iry, H ~ under ,lh
pressure Of Treasury cEn"r --ilcnt, iave yielded O
the temptation. COrgca. "ifiout laying d""u any
po,cy lad but the rs qors billy az the :. tary lie
powrr,d by tie auis of tha s0n Il June. lscI. ard
sd Of March, lS 20 is-c ny amount "f leSal nh.er
the ation We had not rargr money man in office.
Otherwise audd,rs 10 thlns OF ne a,T oi 'nhii''o
nave plunged Wa gladly turn away from the possible
catastrophe Lc ~ next p,ss TO the Atulhh oI loo.
Five OF six months o peace ha1 Dissolved tue army u"
last gimsuts were being d "u IN" Government eIt
"n the Treasury nae oec .''l, r.id @ - m n"i.E Pol,S
OF the Government fuy devtnprd ~ we Sec u now
cOufrarT, fEs currency CONNECTED nom sgS4NnEO
10 S7IuCg 800. IN other .osQL sT4 0fV; - legal ten
dcrr had ncoE VthGrir1t fLd, moreover tUNJ,'oO 0f
old susreudcd G,bs had br,u t-cAaTce tfi.ce,'J of
temporary loans lad been c.t nj ~ sad Sisp",p ~
ab.olnely new claims bad ircn prt h. G'd.ted. ayd
promptly pas over ss00 oJO Fort rtistd aLd rs1d fr
these disbursements to tLOIt space OF Af McCu"ohs
fret Lalf Year, WOIE ~ tlC treasury.
have sad that INC Yian or fcLee of FUNDING which
Was b, gun under such difficulty l- noW going iorwaid
Indeed IL apprUHclcs comp ton. Tie t7-oW0GO Fhich
were suddenly required 10 preserve the country from
bankrupt rcahuiy tie cHt -ot, Cf t.cv ~ paper
money on The other i 10y tAo .rsnc ~ three yeaf
ScvcithiIy nCtcs tLs holder a ~h.cs might 80 matu-
riiy paid "B "a 20 receive az r
instead TivC-twtIty bcLds bIuTu< N pcr cent interest
IA gold. Or these .cSoc0oJ al lut Soo'Voe have LOW
bt en- funded nto bUuus. month ayu on the FIRST or
February. the scventiirles ontsi indinB we're 1lly
N0OoO and The aggregate ~ ic dtht stood ~ fli
100000. of which Ee54o0gOoJ were funded. 1he IN
funded debt Nas reduced To s1!7 .Jo1, tie whole ~
Which, with the exception % tho gr, r,enhacls, tht
fractional currency hc gold notes, aTaugcd
as 10 readily -Bdtd. In scarcely Conceivable con
tinpcncy yaTt oG tho uufuIdcd dcLt cause cm
tho TreagIry, unless indeed, ir sAes-
man should succeed IN Ias-n the singular measure Gu
which. Notwithstanding rs unpoPrlnrty and its MIS-
ctievOus character ne more veBtlred 20 address
the Senate on Thursday.
To give ~ perspcuous view oi tho movements of
the dbt since the close Of 20 var, sc have complied tue
following table: