New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1869-02-23

t ths resta"aoy 81 opp country and Government
TO sound financial condition 40 ,h not a, pre-
tend that ~ ia more than step or Two III tnat oileo
ton Bnt the rst steps that direction must De take
and shall be happy II h@ve necessity and which
will he sdopted with such unanmity or by such majority
win make them the Do se aeseoped as % our national
poliey In the future TO tine 1uture ana 10
gree r. snvthing Is task Of and not Of day and
the perfectness and the ultimate success OF any suen
liberation and caution with which It's conducted Ana
believe more than this believe tnst WIN h @ snd
diet and nursing more even than by the use OF Ie
edes and that we can reach only h1Sagn av
prOtraced by ali impatient attempt 10 hsto OuIo
To follow up this homey figure may say nss we w ag
abundance OF regular and In many respects yaga
bic prescriptions in this matter OF finance Pernaps no
COMMITTEES has ever been more ADVISED anu m his
than the present Committee OF ways ana means on
number quite beyond our time opportunity to study or
even carefully TO peruse. Besides unnuhDereu aGles
or cnped from their columns and Enclosed to u.s. have
had rolls OF manuscript and stacks Of palnpniets foT
thanks Of my Committee, in gross, nasmGCn
acknowledgement to their various authors indi
yduay II such productions proSe onS deep Interest
which felt at this time in our national credit ana e g
ronsed 70 the Consideration Of the questions involved ~
those subjects 1t remarkable, however, nov ,, o
pcsbie to nearly all OF these plans that while scarcely
any two agree as to principle details each writer rs
confident that his own scheme programme presents
the one sure panacea for the remedy or removal OF the
sy @ndfr Sn one WE whe viii pToDs6 lower
estimation Of some persons VINO thnk 'ii ia
an wch relates to been pubic 1sduc Sf' to trusts
worthy scientific theories and formulas, compreneh,si
bile only by the political economists and neXplcaDe 10
the uninitiaed do not believe there Is any great ys
terry what is called finance The management OF odn'
II seems to me are Win ndeTtaSngs Should ordinarily be
Eight mont
IRON my on ntena sTes had occasion to speak
stil believe and repeat that however VIC may us
pn IN regard 70 tIG or II Volume Of
to kept up the contraction to be made viewing hs
financial question all lghts there IL after all but one
way i'm which the debt Of this country is to be pad
20 be cOred The industry OF the people the prOdne
lions OF our labor aud of soil eventually to pay
it," on the stage, with its ictons and illusions there Is
to be found no new way to pay old debts Is not thS
man do Who being in possession Of handsome and pro
ductye estate. finds himself on account OF the e1traGr
binary expenses to which he has been put IN deiehons
his title, incumbered with heavy debts for which MS
and bonds have been given while al tne same ao
the magnitude OF abies and some uncertainty hs 10
his purpose Of prompt and faithful payment have
contributed imPairhis credit ana re- d
his obligations The answer Is easy he s.oIu Az,
by proper means ms resources ana e by, na
H bo dT limit and retrench all unnecessary expenses
He should thus show to his creditors and the pubic
Ultimate extngushment Of his indebtedness, with an
increasing surplus to be SO applied as ms naDJI'
i'm order to regain lost credit manifest determination
20 and pR s 6 Sys S cU %i ~ Which was
An this will be 10 retstabsh himself IN the
this he win have not only that capital which consists IN
The ownership Of property but that other and In some
sense higher security 10 offer which comes from con-
frmed aud trusted credit Such citizen need never fear
bankruptcy. such citizen can pay IN good time all he
whatever money he needs at the lowest rate OF interest
in the market Now make tho case OF ms resohsoe
and trusted citizen the case OF inc hAuon OF uol
eminent and not the same IN al respects rue OF one
slider briefly the OF the United states VIII not
recton the theme is TOO vast for present discussion
Measuring the future wealth OF this broad land by the
present rs do the present by It's increase on the pa
II is almost too great Tor the reach OF Imagination But
let us look at the actual means we have now or may
discharge every ncumbrance on this our magnificent and
rich national inheritance Take first the revenues Of the
past year with all It's eXceptiOnabe and unfayorae cir
cumstances We have had corrupt and eNtraya-
CANT ADMINISTRATOR henclent anu @ ~ 49,,
| taxes aided others 20 rob and defrnud
drels has in most instances only been followed by exec.
utlve pardon. Foreign territory was purchased at cost
Of S2OOOoe In gold equal 10 slOcUO1 OF currency Inc
paid to soldiers who served In the war against
rebellion was 100000 The arrears OF m o in
SOOOOOO We have had to disburse TO meet the great
have required which shall after This in whole
PSI1 The South support the Freed
eminent OF those States In their abnormal and tran.
sitional condition. And yet with all these ,eT-
snce Of over t2s 100000 was carried to sur
plus account at the close Of the fiscal year Look next to
The coming year. and what Is the prospect The Secro
tary OF the treasury has estimated for the fiscal year
end the 3Oth Of june 1870, TO meet all expenditures
including interest the public debt 1893 100000 This IL
against $6OO0OO0 for the present year, which viii eN
pre the SOth OF june 1862 making difference In our
favor II S33OOOOOO But the Committee Appropria-
lions in this House US that all that viii be required
for the next fiscal year Will not exceed t2sOOOO thus
gate retrenchment OF s600O0O as compared with the
have is
able statement What viii probably be our receipts for
the fiscal year ending June 80 1901 Mr. Wells the spe-
cial Commissioners Of Revenue places them at; . 80
F,o S,y,.I taI .' ~ g,i 81 T nrt Law,
with efSeent and honest administration Of
From ,5.on, sources tho premium on go
sales Of and and other public property, Ge. 100000
MAKING total o. $50 0O 900
The reasons tho Special Commission for anticipating
detail in the able official report made by him last month
They founded so far revenue from internal taxes
distilled spirits tobacco cigars, and other sources Those
receipts will be much increased, as is already proved
by the working OF the amended law Of July last rcat.
ing to distilled spirits and at this session or even in the
next Congress enact into aaw the pending general
BILL which has passed the House and gone the Senate,
revising, reforming and readusng the whole system Of
internal taxation with Its provisions for deriving more
from banks, brokers' lotteries, public anusements and
various Injuries still larger aggregate sum win be
raised for public use without any prOporonate addition
reformed faithful aud honest administration of the
Government under the incoming President look for n
the Special Commissioner has estimated Studying tie
subject with all the and calculation that have been
believe shall have for the fiscal year ending June
From customs duties On
Prom internal I68OyMO
from miscellaneous sour,es....,,........... 2OOO0Uo
total ACKNOWLEDGEMENTS. s8sOOo00O
This Will Indicate surplus for that year Of $9sOOOOO
Ms against surplus estimated by the Special Commits
pendtures estnnated by the Committee on Ap,ropria
LET m dgfm M TT Xa-