The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-07-19

Merchandise Specie. Total.
1893 ..... ss57, 4ss,44o s14,iss,sos 1857 4a6 4io
1870 : asslsl5s te4ss,ss5
1s1l........... t2o,22s,es4 2l,25oo24 5Il,4os,7os
1858. .. ssss, 1is7s7 sss ,1o2 $47e,eo2, sss
1869. ...... 49,, 9o6,249 57,l3s2s0 43e, 1874, $40
sSSS ssslISsS
1t thus appears that during these four years the
net exports OF specie have amounted TO about two
hundred and twentysix millions, while the whole
production of the mines, including what Is en-
ployed In the arts, has little exceeded two hundred
dition TO grow any better Does it promise
such accumulation of gold in the country
as would warrant the hope of early resump-
early restoration to the sound basis The
trouble is not merely that we are shipping such
large quantities OF gold abroad but that we are i'm
porting such immense quantities OF foreign mer-
chandse, which makes constant drain OF gold or
Te e has p so Expanded prices es" that this
In one of the best markets in the
attracts the attention and excites the apprehen-
sion OF every rejecting observer. The ratio thus
far for the present year Is greater than ever before
AL this creates demands and leads to drafts which
enhances the embarrassment and difficulty Of our
financial situation, and which the administration
has failed to point TO and suggest remedy
THE PREPoNDERANCE OF TRADE is AGAINST US,
and Is likely to be under the present policy, and 1t
involves Ieveiish condition, which is repugnant
to natural and healthy order or things There Is
throughout the Whole realm OF business and toll an
uneasy and unreliable feeling Tariffs, trade, CAPT.
ously, for some change or with some new abnormal
demand.
II is the duty OF government, or rather IL Is the
duty of those the people have chosen to administer
the government, to devise methods of relief and
firmly meet the question; in other words to
ameliorae the currency, simplify the financial or
ganization, reduce expenditures and remove I'M
necessary burdens. You will not expect me within
lief only say that 1t is apparent to every student
OF finance and TO every careful observer that such
policy should be inaugurated as will be gradual i'm
And ! have said enough, | trust, to satisfy you
that this whole matter relating to the currency,
from which springs brood OF evils, is either i'm
perfectly understood by those intrusted with au-
thority, or that it has been grossly neglected.
There Is either want OF patriotism and courage or
want OF comprehension and foresight In vain IL
tue expectation OF the Philadelphia Convention
under such circumstances.
GOVERNMENT EXPENDITURES.
i now invite your attention to q recent somewhat
remarkable statement in regard TO the expendi-
lures of the government in 1871 as compared with
1890 intended to present view favorable to Gen
eral Grants administration.
The process OF computation IL seen at glance,
but the intricacy OF details and the method OF
rangement is only well understood after the most
careful scrutiny The process is to deduct from the
total expenditi,res of each class the expenditures
directly or indirectly growing out of the war, and
contrast the remainder with the total expenditure
The amount for 1871 is given at 5000, III, 1888 25
less the amounts which are deducted on account Of
the war, as follows:- -
Total civil list t7,o35, pa 81
Miscellaneous. Observation-Disclosures. l3.5s3,356 AZ
PENSIONS Observation-Disclosures. b. 443, S94 80
Military establishments ............... 16607,013 So
Naval establishments. ............... 33Os,754 6s
Premium on purchase OF bonds. ...... OO18,744 "a
interest on public debt 1876 &c. sos SO
Leaving an expenditure on peace basis as it Is
termed OF So, 604,60l OS.
Why not deduct more and make the case still
better, the principle that M IL were done when
;fls done, then 'twere well 1t were done auickly.u
The first noticeable error is small matter of
S. CSC, O93 13, paid into the Treasury as the pro-
ceeds Of the sale OF ordnance, &c. You have
all heard something about the sale of arms
thA
and German war; AMI 1t Is not strange, per.
haps, that the administration managers should
want to keep the natter out OF sight whenever they
can. The annual report Of the Secretary Of the
Treasury. December Sl9st, gives the expenditures