The Anderson intelligencer. [volume] (Anderson Court House, S.C.) 1860-1914, 1870-01-27
THE FINANCIAL POLICY OF THE GOVERN
MENT.

MENT
Those who have looked to Congress, says the
Louisville Cow1er-Journal, for financial policy
that would tighten the burdens resting upon the
industries of the country, have as yet, little rea-
son for hopefulness. Mr.. Boutwell,, from pro-
found obscurity, has all at once loomed into great
nooriety, controlling, as he does the revenues of
mighty nation, and manipulating them as he
pleases under laws which give vast latitude tothe
whims and caprices of an adventurer, and impos-
ing paltry penalties for malfeasance Boutwell,
harrangues the populace upon questions OF finance
with an imperial emphasis which is doubtless de-
signed to convey the impression that ne is the au-
tocrat of the wealth of the country, and will at
his pleasure control its means for the purpose or
carrying out whatever project or scheme suits his
ambition. He has started out with the idea that
the nation must submit to the odious and burden
some taxation " hich hitherto has been ground out
of the people, under the pleas of loyalty and the
support of the Government The people, and
among them some Radical fnanciers, don't desire
to aid Mr.. Boutwell's schemes. They are not dis
posed to aid his ambition at the expense of thein-
dustries of the country. They are in favor of
paying the national debt but not in advance, if it
is to result in bankrupting the people, which MIR.
Boutwelrs policy almost inevitably involves. The
New York Tribune, Boutwell's great organ, con-
cedes that the Secretary is not great fnancier
but contends that his honesty and sincerity. are
unouestioned. His blunders and mistakes are er-
rors of the head end not of the heart. The peo-
pie want not only honesty, but capability, and if
ever this want was imperative it is now. Bout
we'll recently addressed the Grand Army of the
Republic, in which he illustrated his magnificent
scheme and prominent among its features are his
American consols 10 sell in the markets of Europe
and which ore to be the great financial panacea of
the age. The New York Times says:
There is, however, this material difference be-
tween the Secretary and the people: He would
extort an annual surplus of a hundred millions
until funding be effected they would apply three
fourths of that amount to the diminution of bur-
dens that are now oppressive. In other words, he
would squeeze out of the tax payers pockets every
year for series ofyears, % hundred millions more
than the sum needed TO meet the current expendi
lures Of the Government, with the view of saving
eighteen or twenty millions by fundng-at date
uncertain. The people would secure IN immediate
saving of seventy five millions more, and at the
same time feel assured that funding will more GER
tainly follow national prosperity than any conceiv
able surplus purchased at the cost of on impover
ished industry and an embarrassed commerce.
We submit, then, that IN immediate reduction
of taxation to the extent ut least of seventy FIVE
millions, may by judicious measures be made the
means of strengthening the public credit In the
first place. it will remove widespread discomfort
discomfort which Mr.. Boutwell, quietly ignores
but which is as prevalent as it is natural. In the
next place, well-consdered INSTRUMENTATION
in the interest of the people, rather than of mo-
nopolies-wll greatly contribute to the restora.
ton of prosperity to trade and industry. II will
cheaper the cost Of production, will impart fresh
life TO decaying trades, will lessen the cost Of
transportation and will add TO the substantial COM
fort Of all classes. 1t will enlarge the volume of
domestic products available for expectation, and
will thus contribute to a more healthy commercial
relation with foreign countries. And it will effec
tualy controvert the opinion, now fast gaining
ground, that the machinery of Legislation and of
the Treasury is worked in the interest of special
classes, not of the people. These being among
the prospective results of reduced taxation it may
be relied on potent auxiliary to other methods
of cultivating public confidence.
This subject is one in which every man, woman
and child in the country has direct interest," and
steps should be taken to impress upon Congress
that the burdens of taxation must be reduced, and
that Boutwels schemes will not be tolerated
The Times says truly that "the machinery of leg
islation and of the Treasury is worked in the in
terest of special classes, not of the people, and
it is one of the most cheering signs Of the times
that this fact so often stated by those not regar-
ded "truly loyal is now being uttered by those
who have had the privilege of seeing the interior
workings of the Radical party.