The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1870-01-13

men and money to put down the other public
enemy in the field For these and other rca-
sons he wants the powcrto fund. and if he gets
it the process will be thoroughly tried. This
is, in brief, the position of the secretary of the
Treasury, as understand it, though MAY not
have stated his positions and arguments as
forcibly and clearly os he does to any one who
chooses TO talk with him about it.
As to Congress, think IL safe to predict that
it will not only give the Secretary his funding
power, but it will also go on and reduce taxa
lion to q certain extent. Neither house Is in
sensible to the demand which is so urgent.
Yet, while they fully appreciate the fact that
taxes ought to be reduced, they will be gratc-
full for all information showing where and how
they can be reduced. They have started ont
in the House, as before stated, with PROPOSE
ton to reduce the tariff by about twenty-five
millions, and it is estimated that the re-enact-
mcnt of the income tax at lower rate will re-
ducc by fifteen millions more, with an esti-
mate of five millions additional for sundry
other features of the internal revenue list.
This will bc equal to forty or torty-fvc millions
reduction, though possibly the stimulus given
to importations by reduction Of the tariff on
several articles would prevent the reduction in
that direction from being apparent in the an
nual return.
Beyond this Congress is not likely to 60, from
present appearances. The sinking fund fea-
ture will be re-cnacted, so as to convert into the
fund all thCpurchases made thus far, and to
fix the rate at which they shall be made here
alter This rate will be one or, possibly, two
per cent. per annunl, it Is impossible to tell
which at present, so evenly does the sentiment
of CoHgressmcn seem divided on the subject.
If Mr.. Boutwcll's request to be allowed to go
on and purchase until the requirements of tile
act are reached, the same as If the law had
been executed from the date of its enactment,
then the regular Will undoubtedly DC
fixed at one pes5 cent. per annum; but if not,
there will be an effort to fix them at two per
cent, or fifty millions per year in round num-
bers. The fulilmcnt of tile requirements of
the act from the date of its passage, February
%, 1862, wonld nccessitate the purchase, in
addition to the present accumulation, of up
wards of one hundred and forty millions of
bonds, counting the reinvcstmcnt OF the in
tcrest every six months, and would require
over two years to accomplish it with the rate
of purchases as they have averaged for the
past eight months.
1t is greatly to be regretted that the work of
the Ways and Means Committee on the tariff
will after all be very incomplete and fragmen-
tary. It will not be general revision of the
list-only reduction here and there, with an
occasional change of classification, and proba-
bly,, in some cases, very injurious increase
OF the rate. There are some suspicious
changes in the free list also, and one or two
articles are classified as raw materials, the
supply of which is monopolzed by American
companies, so that they get their raw materi-
ais free, TO the ruin Of all other competitors.
The revision OF the general list will be deferred
until some future PERIOD This is. perhaps,
fortunate, as majority of the present commit
tee seem entirely inadequate to the duty.
When the Tariff bill gets into the House
there will be q general onslaught on Its rates,
by the Western members, and more
hope for reduction of taxation can be based
upon the House than upon the committee.
Sugar, coffee, iron. and two or three other
leading staples, will have hard struggle 10
get through the House without submitting TO
Il further reduction than is proposed in CON-
mitlcc.
The Case of Virginia.
A Washington telegram of Monday, 10 the
New York Sun, says:
Congress reasscmbed to-day with quorum
in the Senate, but in the House the attendance
at first was much smaller and there were on
some of the votes seventy members VINO did
not answer to their names on the roll call.
The most important feature of the days session
was the consideration in each house OF Joint
resolution to admit Virginia to representation
in Congress. Mr.. Stewart, in the Senate, pro-
posed the resolution, and supported 1t In
speech.
Mcssrs. Sumner and Howard opposed the
admission OF the State without the further cX-
action of tests No vote was reached in the
Senate, but 1t was evident that Mr.. Stewards
resolution will have at least bare majority.
In the House, under the call of States for re-
solutions, Mr.. Bingham, Of Ohio, presented a
resolution declaring that Virginia was entitled
t. representation. This created quite a hub
bub, but was considered, under the rules in
force in the morning hour Of Monday, without
debate. General Paine, of Wisconsin, and
Mr. WhittcmOre OF South Carolina, led of in
opposition by making dilatory motions to
table, to adjourn, &C., and on the first vote
the main question was ordered, but on re-
the vote stood 7G to 76, and
being tic, the Speaker voted against recon-
sideration. The House was then about to vote
on the passage Of the resolution, when n
motion to adjourn interviewed and was lost
Mcssrs. Hoar, OF Massachusetts,, and Hogc.
of South Carolina, announced that they had
voted to reconsider, but were not recorded,
which changed the above result BY this time
the Radicals reinforced their number, and the
main queston-to take vote on the rcsolu-
tion-was lost by 6G to II. The morning hour
expired. and it went over till next Monday.
This result in the House is q triumph of the
opponents of the admission of the State, and
revcrts the Virginia question to the Recon-
strllction Committee, where it will be taken up
as soon as General Butler, chairman OF the
returns There were twenty Demo
cratic members present Had all been In their
places, the bill would have passed. Governor
Walker and other Yirginians arrived to-day,
but are not very hopeful oil the situation after
to-day's result.