New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-12-01
THK YNLTURES FEAST.

THE PULI UNEo FEdoI.
The XLIst Congress reassembles next Mon
day; and already we have ample premonitions
that this. though its short session, VIII De a
busy one. There is much work that cannot DC
postponed: the Resumption of Specie Pay
ments. for example: but there is much more
that will have to be, unless the Treasury Is 10
be swamped and the National honor furnished
The Government is poor, and must for some
wears continue so. The abolition, last session.
of three fourths of the Internal Taxes, has re-
duced the current income below the actual ne
cessities of the Treasury. If the remaining
imposts could be fully collected, we should
still he solvent; but at least half the money
that should be received weekly from the excise
on Liquors and Tobacco is stolen by revenue
officers, in collision with certain manutac-
turers We hope this enormous leak VIII DC
stopped soon after Gen. Grants inauguration
"a President; but nothing can be realized from
this source till after this Congress shall have
expired; and thus the Treasury must remain
poor for n full year to come.
And vet the clever fellows who want to get
rich by the aid of Appropriations have no more
mercy on us than if the National Debt were n
fiction, the IGreenbacks represented cash IN
hand instead Of debt incurred, and the Treas
ury were bursting with superfiuous gold. Inc
Engineer Department wants Ten or Twelve
Millions for Fortifcations while the Ordnance
Bureau would like as much more wherewith to
arm them. Rivers and Harbors hold up their
dish-capacious and empty as usual; and then
come the Overland Railroads (whose name Is
legion), with their urgent demands that more
and still more, lands be conceded and bonds
be issued, until Prudence stands aghast and
Bankruptcy stares us grimly in the face.
Now we believe in the Railroads. and in KIN
dred works generally. We hold that the coun-
try is not impoverished but is really enriched
by them-that even the Treasury receives
therefrom more than it pays. Take the pro-
posed Northern Pacific Railroad, aud suppose
that Thirty Millions in money and Twenty
| Millions of acres of Public Lands were granted
to secure its completion within the next ten
years we hold that remaining Public Lands
would he worth far more, whether to the Gov
eminent or to settlers, than the whole would
be without the road, and that the Thirty Mil
lions of Dollars would be paid into the Urea
sury because of the new settlements and extra
consumption of tax paying products which that
road would insure.
Having thus admitted the whole case set up
for these great and benefcent undertakings,
we most earnestly protest against the extern
sien of Government aid to them at present,
simply because such munifccnce is not yet in
order. We must vindcate the right OF the
Nation to be credited before we lend any more
credit. One Railroad to the Pacific is 80 far
advanced that it must be put through forth
with all Others and all kindred enterprises,
must await the Resumption Of Specie Payments
and the funding of our National Debt at
lower rate of interest than six per cent. When,
by faithful collection of the Federal taxes
and vigorous retrenchment of the National
Expenditures, we shall have reduced our FL
nances to order, created a surplus OF Five TO
Ten Millions per month 10 DO applied to the
reduction of our National Debt, and made the
market for Federal bonds so brisk and eager
that q few Millions more will be caught up
with avidity then we may think Of entering
upon the construction, by National subsidies,
of more Pacific Railroads and kindred works
on this side of the Rocky Mountains.
OF course, it will BIO urged that issuing a
fen more bonds, to help this that laudable
enterprise, will not make much difference but
tnc plcd ~ we CdnuOJ ucip
new road without helping others-probably
several others and We could not issue even
one new batch Of bonds without weakening
the National Credit and putting of the day of
Resumption. We glory in Enterprise; but it
must not take precedence of Honesty. We
shall in time have at least three separate
Railroads to the Pacific, with many branches;
and the Government will help construct them
but not very soon. We are not able to do it at
present, and may not be for some years yet.
"Mr. Jerrold," asked a needy London BOhe-
milan of the creator of Mrs. Caude, "have you
confidence enough in me to lend me guneaf 7"
PLENTY of confidence, my dear fellow" re-
sponded Douglas but ne'er guinea" Uncle
Sam is in that same predicament just now, and
his Legislators must realize IT,
The Independent has added nearly a fourth
TO its previously generous proportions. so that