New-York tribune., 1872-10-17
BUSLNESS IND POLITICS.
State.

BUSINESS AAD IOLIIICo'
Certain prominent capitalists of our city have
been induced to unite with quite a Dumber of
active politicians in recommending the Teelec-
ton of Gen. Grant, in the interest of bust
ness. Among our capitalists who do not unite
in this appeal we note the following:
William b. Astor. Cornelius Vanderbilt,
Alexander Il. Stewart George Law,
Marshall o. Roberts, g. IL. GarflSon'
o. d. +. Grant, Isaac sherman,
all whose names, if we mistake not, were
signed to business appeals in favor of Gen.
Grants election four years ago. Their place is
filed, but hardly made good, by persons less
widely and less favoTably known.
The actual sgners say that S94S,0O0,000 Of
National Debt have been paid of since Gen.
Grant was inaugurated, while taxes have been
largely misunderstanding the repeal of the
Income Tax. But this is a most unfair, decep-
tive statement. The Income Tax Is now oil,
having expired by limitation, but it has been
paid in each of the four years of Gen. Grants
| Administration, including the present Had 1t
| not been, the debt would have been at least
! 500 100000 more than it now Is. Of
| course, when next year comes around
| there will be S3OO00,000 less of income for
want of Chfs tax, there VIII be S2O,OO0,OOO
| less because of the taking off Of taxes from
! Tea, Coffee, &c. We cannot both eat our cake
and keep 1T we cannot go on paying of debt
at the rate of s10O,C00000 per annum with our
| reduced taxes. If the Executive deserves
praise for the payment of so much debt, then
| he deserves cCnsuTe for the reduction of taxes,
for this prccludes the continuance of debt-pay-
| ing at the rate of $100,000,000 per annum. In
| fact, there is no call for praise on the one
hand nor blame on the other. The Finances
have been decenly managed, but not with
ignal ability. The People have borne high
| takes, and this has insured a reduction of the
debt. If this policy was right, then the re-
cent reductions of taxes were wrong, for they
have rendered the continuance OF our past rate
of debt-paying impossible.
And it is but fair to consider that the pub
lie is vOuchsafed 10 explanation OF embezzle
ments which would once have electrified the
country. There is Paymastcr Hodges robbery
of $474OOO in Washington City, right under
the eye of both PaymaSter- General and Sccre-
| tary of the Treasury We have repeatedly
| asked, but i'll vain, for some official report or
statement, showing just how and why this
man was enabled to steal so much We know
! that he never, in time of peace, should have
| had so much as 100000 of public money in
| his hands at once, and that this amount should
have been amply secured by his bonds. Then
how could he steal $474,0OO9 Was he really
| allowed to draw checks of 100000 and $780,
600 to bearer on the Sub-Treasury at his o1n
good pleasure7 Why are not the facts set
| forth, and the blame placed where it belongs7
How can business men justify such financier-
ing as this case exhibits?
There have been-not to go beyond this city
heavy defalcatiOns in the Internal Revenue,
| Post-Oflice Sub-Treasuly, and PensiOn-0 Office
respectively. Why are not these explained in
official reports, showing how they occurred,
through whose fault, what is the chance Qf
recovering the sums lost. and what measures
have been taken to prevent the recurrence of
such lossesi Do business men approve OF
silence and secrecy with regard to themi Mind
that we only know what those in power choose
TO tell us. How many more would prove de-
faulters if compelled TO balance their books and
pay over all they owe, We cannot know. There
surely ought to be scrutiny of those books
by accountants not interested in making as
fair show as possible.
-Messrs. Morgan, Clews g. CO., who sign the
appeal are silent with regard to the enormous
debts piled upon the Southern States since
1868, by politicians now shouting themselves
hoaIse for Grant, and in full communion with
his present commanders in our city. South
Carolina's desperate financial condition is due
solely to her Black and White politicians of the
Grant school, who are as jealous as Gen. Butler
for the unity and perpetuity of the Republican
party, and for stern dealings with all boilers.
Georgia and North Carolina have been stolen
poor by cormorants of the same brood; Texas
and Arkansas, Louisiana and Florida, are smart
ing from their ravages Arkansas deplorcs the
persistent disfranehisement of two-thirds of her
property y-holders by her Grant politicians, who
are still depressing and fleeing her. Impair
tial Suffrage would speedily upset them yet
they are upheld BY the strong arm OF Fed
eral power. Texas would night herself at once /: