The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1869-12-07

at fixed price whenever presented and 70 withhold
from circulation all currency redeemed until SOLD
again for gold. the vast resources Of the nation,
both developed ana undeveloped, ought to mrke our
credit the best on earth. with les burden Of tax
alton than the citizen endured for years past
the entire public debt could be paid In ten years. bus
II IL not desirable that the people rhoud be taxed to
pay 1t in that time Year by yeai Z, ability to pay
1t increases in rapid rato but the burden Of Inter-
est ought to DO reduced as rapidly a. can be done
without the violation or contract. the public debt
Is represented in great part by bonds having from
five to twenty and from ten to forty years to run.
bearing interest at the rate or six per cent and i've
per cent respectively. It is optional with the
government to paw these bonds at any period after
the expiration Of the last tmo lentioned upon their
face. The time has already expired when great
part OF them may be taken up, and y rapidly ap.
which are now due may be replaced Dy bonds bear
ing rate OF interest not exceeding four and ono
come dus that they may be replaced 10 the same
authorize tho interest TO bc paid q either Of the
any Assistant Treasurer Of the United States ct tho
option OF the holder Of the bond. suggest this
and also simultaneously with this the pfopIi.
ETY. OF rodeemin our currency a. before suggested
q ts market vaSs :. me Lime the law goes INTO
bought or sold rom day to day or week 70 week. ct
the same rate Of interest - government pays upon
The subject Of tar11 and internal TAXATION WIN
necessarily receive your attention. The revenue! o.
may WEI s S Dus Sc
the debt 70 four OF four and han per cent l0an
would reduce the annual current expenses largely,
x xascn shsn Would I now 8 exbedient suggest
the postponement Of this question until the next
taxation and tanfi In instances where UNJUST
or DurdenSome determinations are made by the
present laws regulating this subject Recommend
also suggest the renewal OF the tax on incomes but
at reduced rate gay Of three per cent ana this tax
with the fundiig 's Of the national debt, a. here
suggested feel safe In saying that taxes and the rev.
o
o. the county are developed '> The report the
government Tor The fiscal year ending June 80 1862
70 be $s7o,e4a, !4 ana the expenditures, including
mates for the ensuing year are more favorable 70 he
government and VIII no doubt show much larger
decrease OF the public debt.
have exceeded the amount necessary to place to the
credit OF the sinking fund, as provided by law To
from Circulation Would lead to such Contraction Of
the currency az to cripple trade and seriously affect
the prosperity Of the country. Under these circum
nnars,Sv U 49, - ~ v ~ @ ~ sSa
surplus currency In the Treasury IN the purchase Of
n iahs ~ tSa co,,,ntrx ana - S3,n,s,r;r ~ Co,,
gross The question OF the disposition to be made Of
the bonds. 80 purchased The bonds now held by the
belonging to the sinking fund.- and recommend that
the whole placed to the credit Of the sinking fund.-
,nTn , ~ th Nv ~ WIG 10y tUuv n
creation OF the ONCE OF Commissioner Of Customs
Of ocss and the snnsnt,on 81 ncressed nStions
BANK crcuation to reUsce the a. outsanSinu tHres
Tca -. anu os y. espeClay 20 ms IT,
Of nss nneIt,es ore,ras ~ ~ ~
TSa nce ~ ~ co. 70 :,
one AZ the most srdnoms ana rasnnns,h,a nnder ~,
government II falls but little. il any, short Of .
SaDAnG' pOsIon ~ a.s lmpoIsance anu responspni.
s n yaur n1n III s aca IL s1Gn ~ @
ns ~ ,t ~ " MIN ~
agu nT = sa tlu VI Tue CLASS
the WAR N CUBA.
too tne nan"a sv~nsh .0 it ~ al ~
T,no ior Harty ana asrovsrnm an us e
sympatnizing It is due 70 our honor that we should
rots ana ,r taHne OUT UPON
~ ~ euo pco~een ulneaens nauons
OF DeswS S, goVernmenm ana tneir subjects our
Justice and law, international and local. such mas
neTn Win r1 pthssya ruas,sons En %
any wear vauaS'e nrnv,nce of q, Sno,n ' aad
cannot INT fae, daan ,ntare S v ns p1 n
strm1y,ng Tor ,nTanandence nd 1reoSo, Tna yan
Die and eovernment Of me United States entertain
nc sarra worr, fas,tnoe ana svmn"sntas To- - !.
aoa ~ rma IN tnar nends m strr1a tha IT ,hav
nmanested Ihronrhomt The nrevious s struUoes ~
tween Snan and er former Colonies ~ hennif n the
iottar AM the Contest has A. M time esann,sd the
Conditions which amount to war In the sense of in
NJ Ge ncto nni,tics orransxatIon Of the
snfsicent 70 fnsnSv = recn0nifinn of heiIi0crencv
Tha nrircsnie ~ naintesnoT horevar thos
this rrafIon ia its own indre wi3Sn IN nc.
cord the rtchts of beliigerencv either 10 neonie
strnrUlinr 10 free themsevea from rovern
na,nns ~ war Win eecS nsSer 1he fnised States
have ro T,"nns,tion Ia ntnriara with the erist,n1
nf knain r. hsr coonisi nnsaecanns On thte
Contnent. they believe thst I'M d,se time Snain and
other uropeap Powers win md il TO their interess
semi denendemcies "a indensndent
OF the family Of nstions Tne denendencies ara IN no