The Hawaiian gazette., 1872-04-10
Late Foreign News.
AMERICAN.

New YORK, March 15.-The Judiciary Committee
continued the investigation to-day into the charges
against Judge Barnard. Among the witnesses was
JAY Could who testified that the accusations of
rupiion against Barnard 10 the Erie suits were IN.
founded. Gould stated that be had paid Samuel J.
Tilden $4,000 retaining fee behalf OF the Erie
Railway From that day he never saw Tiden until
be appeared as counsel for the plaintiff in the suit
against the Company.
WASHINGTON, March observation-disclosures said
he proposed to state facts as to our financial coud
ton that would enable for the sixth time since
the war to largely reduce taxation and also the gen.
eral principles upon which the reductions based
The taxes already repealed yielded SOS, 600 900;
and the revenues still largely exceed the expendi
ture The taxes that remain yield more than the
taxes in former years and more than estimated
by the most ssnguiue The production Of the coun-
ty has been largely increased, and almost every in
dastry is actively employed The consumption of
the people has greatly increased, and at the same
time national expenditures are diminishing. The
financial condition improving in every particular
slowly but surely, without contraction or expan-
sion approaching the specie standard. The interest
OF the public debt has been diminishing by payment
Of the principal and the OF interest reduced on
the remainder. All these favorable circumstances
enable US to approach further reduction OF taxes
with more system and better informatan than be-
fore In obedience TO resolution passed by the
Senate in April last, the Financial Committee has
during the recess examined into the details Of the
different taxes imposed by law, and agreed upon
amendments in both tariff and internal revenue.
Since the close of the war, it has been necessary TO
maintain the revenue largely in excess OF the ex-
pendture n order 10 pay the unliquidated debt and
re-esiablish our credit in improving our currency
and reducing the rate of interest; but the time has
now come when can safely reduce the revenue
TO barely enough TO pay the expenses of government
economically administered, the interest Of the public
debt, and such additional sums as it may be good
policy 10 apply on the principal.
The expenditures for the fiscal year ending June
SOth, 1871, including interest, were S292, 1l5,ISS
For the current fiscal year, partly estimated $685.
4O3SS2 For the next fiscal year, estimated, S27S,-
025, 77S. These sums exclude the Sinking Fund and
all the payments on the principal Of The debt.
The net receipts of the Government during the
last fiscal year ending June SOth 1871, were sSSS,
S2S 9i4 For the current fiscal year they are esti-
mated st sS59. 600 The actual surplus revenue
for the year ending June SOth 1871 was SOL l46 40
For the current fiscal year. partly estimated, $751;
S94,99l For the next fiscal year, estimated at
So. ga, 226
WASHINGTON, Mar 12-The House then went into
Committee of the whole on the Post Office Appro-
priaton Bill, the pending question being the amend
ment increasing the subsidy to the Pacific Mail
Steamship Company
Potter spoke in favor of the amendment. He look
ed at it as the only great foreign commerce LEFT to
the people of the United States, this commerce of
the Pacific Ocean, and the question whether the
proposed subsidy was necessary. If it was, this
pendiiure was warranted.
Coburn opposed the amendment and suggested
substitute for admitting foreign built vessels TO
American registration. He understood that iron
steamships could be purchased for three-fourths Of
what they cost here A voice-"For one-halLnl |
That was the shape in which he favored granting
subsidies. Why not let the Pacific Mail Steamship
Company buy four great ships If it required them,
wherever it could &c: them cheapest, instead of
taking half million year from the Treasury? He
offered bis amendment reducing the subsidy TO
$500 600, allowing the Pacific Mail Steamship Com
pany TO purchase four iron steamers abroad, to be
registered in the United States.
Sargent made point of order that the amend
nent changed existing laws and therefore not
IN order.
The Chairman sustained the point of order.
Cobun appealed, and the decision of the Chair
was sustained
was anxious to do what he might so that the Amer
can flag shall show itself on all seas.
Crebs opposed the amendment He had always
ound that when great wrong was about TO be per
,eirsted great Outcry and pretence of public ne
essity was sure TO be raised. The present case was
N illustration of that truth.
Farnsworth offered substitute reducing the sub
idy TO half Million provided that the Company
,erform the service semi-monthly, and giving them
liberty TO perform it in ships of foreign construction.
Conger and Sargent opposed the substitute, and
hereford and Morgan opposed an increased subsidy.
he latter expressed surprise at seeing the Chairman
( the Committee on Ways and Means Dawes and
be Chairman of the Committee Appropriations
Garheld) sustain increase Of subsidy after all
heir proteststions Of economy.
Sargent opposed Fsrnsworth's amendment, and
bowed that the English steamship lines which
ought their ships a: the cheapest rates had still TO
e subsidized by the English Government He re-
minded the representatives of agricultural interests
bat the Pacific Mail Steamship line gave an outlet
o wheat and corn to the East.
Morgan opposed the increased subsidy, and re-
erred to the statement made TO him by Collins when
c got his first subsidy of $50 900, that 1t bad cost