The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1871-05-05
National Finances.
49, AZ ~.
How to Savea Hundred Millions
Opinions Of Hon. 8. $. Cox.
Issues Of the Presidential Campaign

: A reporter OF the New York Herald
has been interviewing the several mem
bers of the New York city delegation,
since their return from Congress. From
the report of a conversation had with
Hon. S. S. Cox we make the following
extracts !
What do you think, in general
way. about the just closed session Of
Congress, Mr.. Cox began the inter.
viewer.
well, my opinion is that Congress
ought never to have met until next fall;
or that if it did meet, it should have ad-
journed Immediately after completing
its organization. The best thing it has
done so far is to die-the only pity is
that it did not die as soon as it was
born -...
1t was well at any rate, to discuss
your resolution to bring down the amount
of annual taxation to $3.50, OOO, 600"
Cor, if Congress sat at all it ought
certainly to deal with the most impor-
tant issue Of the hour
THE NATIONAL FINANCES.
"Some of our folks here think your
calculation just shade too roseate in
its coloring?"
Not at all. | will tell you how |
make it up, and you will see at once
that that sum is ample to cover all the
current expenses Of the government,
and, in addition, to allow OF bagatelle
of 1925 100000 annually to be devoted
to the destruction OF one of the blessings
of the war-the national debt. The
total expenditure Of the government in
1860 was $60,000000. | allow thirty
per cent increase on that for our growth
in population; and, again, allow ten
per cent for the depreciation Of the cur
repcy. Add to that the expenses of the
Indian Bureau and Pensions and the
interest on the public debt and you will
have a grand total Of $226, $4,000.
That leaves about S23, 100000 or $24,-
1000 out Of the $250,000,000 raised
for the final extinction of our obliga-
tons. There's nothing in the least
Utopian or extravagant in such an estl.
mate, and the Democratic party are go
ing the coming campaign on this basis
that if the good sense Of American
taxpayers will give them the opportunity
to do it they will cut down national
taxation more than hundred millions.
The one political need OF the hour is an
honest and economical administration
Your resolution was debated, but
not passed p .
Yes; but ! have no doubt it would
have been if | could have got direct
vote upon it. They always referred it
to committee, or some committee that
was to be, because they were anxious
that SUCH resolution, if made at all,
should come from the Republican side
of the House. The discussion on my
resolution developed
SOME CURIOUS FACTS
though
such as ~
The most singular fact was the evil
IDENTIFY keen desire Of certain class OF
Republicans to claim that they had not
been recreant to the revenue reform pol
icy, upon which they had been elected.
| refer, Of course, more especially to
the Northwestern men-men like Co
burn, of Indiana But we brought them
up with a sharp turn. put it to them
why it was that in the last Congress,
when they had a two,thirds majority.
and when they all recognized the press
ing need OF cutting down the expenses
at least a hundred millions, they had
failed to do so? They made no an
swer, except few gibes at some fifteen
Democrats, who had failed to vote for
free ships. They had no answer to
make; they have no excuse on earth to
put forward for their wilful neglect TO
iul their promises to their constituents.
"But this resolution had some direct
effect, hadn't it, in the shape of appoint
ing a committee, or something OF that
kind?'
"Well, Senator Sherman offered
resolution in the Senate that the Fl
nance committee should examine the
tariff and report revenue tariff next
session. His resolution had been copied
for mine, already offered weeks before
in the House but whether it is a sim
cere resolution or not time alone can
show. 1t was considered by our side as
a dodge to evade the repeal Of the salt
and coal duties
1.-THE Republicans seem inclined to
put bold face on their past financial
policy-they talk enough about it?"
Yes, in this debate on my resolution
several OF them boosted that they had
cut down taxation eighty-three millions
OF dollars-the same
e. DELIGHTFUL FICTION
that Morton has ventilated in his speech
at indianapolis. But we pulled them
up short again on that point. Mr..
Brooks and myself both brought the
truth plainly out-that, instead Of re:
duction in the tariff, there has been an
actual increase OF over five millions in
this year over last. And let me give
you the exact figures; they speak louder
than anything else For the fiscal year
ending June 80. 1870, the customs reve
nue. was $l94,53S,000, and for the year
ending June 80, 1871, ten or eleven
months Of which have already passed,
the receipts will be nearly 5000, 000,O
S., 100000, as have said, more than
last year"
This revenue question is to New
Workers, of course, the grand question
Of the hour
Not alone to New Workers, but to the
whole country. This financial question
is going to decide the next campaign.
NV Judgment is that the so-called Re