The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1869-10-28

Tho National FInances-.The Presi.
dents Forthcoming Message.
From uS NJ =. Herald.
Although Congress will not meet for
several weeks to come, and the mes.
sage OF the President to that body will
not be delivered TIL that time, we are
able TO foreshadoW what will be the
general principles which will be an
nonnced as the policy OF the admins.
trati0n with regard to the national
finances. The President and his CabI-
net are giving q great deal OF attention
to this subject, and properly 20, for It
iBof paramount importance and over
lhadows all other subjects. The PresI-
dent sees the necessity Of reducing the
public expenditures as low as possible,
and OF managing the debt In such o
way aa to reduce the annual burden OF
1t. He wishes TO tighten the weight Of
taxation, particularly upon articles Of
general consumption which are deemed
the necessaries Of life but he thinks
the interests OF the people will be better
promoted by not disturbing the present
revenue laws at the next session Of
Congress or for another year.
The object ls to consolidate the debt
al the lowest rate OF interest possible,
and therefore 1t Is deemed important to
keep the Treasury In the most flourish.
Ing condition till that is accomplished.
The wisdom OF such policy will be
seen at once by every one; for II the
income OF the government continues 10
be 80 much larger than the expendI-
ture, and the Treasury has hundred
millions or 20 ofsurplus revenue q year
10 apply to the payment OF the debt,
the credit OF the country must rise, and
the consolidation or Encouragement OF
the debt, by loan or otherwise, could
be effected on much better terms, A
man with ample means and fine pros
poets before him can always make a
loan for any special object on better
terms than any one who Is In doubtful
1t IL the same with ma.
tiOns. After the debt shall be reorgan>
iZed and placed on sound basis the
finances will be 10 condition 10 admit
OF a.general reduction OF taxes. The
first thing, as the President wisely con.
siderS, IL TO adjust the debt 80 as 10 ia
duce the annul burden OF inteIest on
u, anu the BEST way to do that is TO
keep the credit Of the government up
to the highest point. When the debt IL
thus adjusted we can proceed 10 modl-
fy the revenue laws and take of the
taxes. To cut down the Income and
means of the Treasury before would be
unWise and would BIZ loss 10 the
country In the end.
Quiet and unpretsndIng as General
Grant Is, he shows In this far-seeing
policy relative TO the national finances
that In financial rs well AZ in military
attaIrS he is equal to any emergency,
De IL a man OF thought, and when be
brings bis strong practical common
sense 10 bear upon any public matter
he displays the qualities OF a states
man. The plain Western farmer or
tanner, who rapidly rose by the force
OF his genius and character to the COM
mand OF the largest army of modern
times, and who put down the most for.
midable rebellion In history, seems
likely 10 master the difficult problems
Of national finance and civil govern
ment.
But while II may be wise not to re.
duce the income OF the Treasury mn the
debt Is simplthed. consolidated and the
Interest reduced, the expenditures can
be very we'll cut down. 1t is gratifying
70 know the President has this desira-
BILE object in view. The expenditures
10 every department are much too large
for times Of peace. The total expendi>
lures for the fiscal year is estimated at
about three hundred millions. Out OF
this nearly one hundred and thirty
millions 60 to pay interest on the debt.
Inc cnrfent expenses, then, apart from
that paid In INTEREST. are about one
hundred and seventy millions, This
amount is double that ex pended lust be-
fore the war, yet the population Ia not
over fourth more. From q hundred
10 hundred and twenty millions a
year ought 10 be sufficient, With the
restoration OF the South there IL no
more necessity for large standing
army than there was before the war,
Never had the country stronger assur,
anceB OF peace. The military power n
has dlsplayed-and that chiefly through
It's citizen soldiers, who few 10 arms
when the emergency called them ont.
and who AZ quickly laid them down
VI hen the war was over-is the strong-
est guarantee Of future peace. Onlv n
SA4eN VI t19
army over that before the war ia neces.
sary. The same may be said OF the
navy. The cost OF the civil service
ought not TO exceed twenty per cent
over that OF 1860. Allowing fair
margin for nee ebSary increased expen,
dleures In, every department, and reck-
ontng pensions ~ we'll, the total for the
civil military and naval services
should not be over a hundred and
twenty millions. This would be q say.
Ing Of about tifty millions o year on
the estimated expenditure, and would
leave lhundredsand fifty millions out
OF the revenue for the fiscal year to be
applied 70 the liquidation and readjust-
n,ent 0f the debt. Retrenohment and
economy should be the watch words Of
the administration and Congress. To
keep these strictly In view aud to act
upon them will not only reduce the
debt, enable the government TO read.
Just It on the most favorable terms aud
tighten the burdens OF the poople. bnt