The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-03-17

Tho Subsidy System W. tho Systom Of
Buying SHIPS whsre We Can buy
Thorn Cheapest.
During the last week there were some
remarkable and hopeful proceedings and dis
cussions In both houses Of Congress on ques-
tons of the highest practical importance to
| the country.
Mr.. Sherman, Chairman of the Finance
Committee Of the Senate, delivered on Friday
last, in that body, the powerful and instructive
argument published in yesterdays HERALD in
support of his new bill for the modification Of
the existing tariff laws. He may be called
either moderate protectionist or a conserva-
tive revenue reformer; for his aim is to relieve
the country as far as the necessities of the
Treasury will safely allow, in reductions Of
our external and internal taxes, with careful
determinations in favor of home manufactures.
That he is on the right path in his half way
policy between the extreme protectionists and
the out-and-out free traders, can hardly be
doubted with the abundant evidence before us
that without some compromise between these
extremists we shall have no reduction what
ever from this Congress Of our internal or
external taxations. But the substantial value
of Mr.. Sherman's speech lies not so much in
his particular system Of reductions as in his
statistics of the national revenues, expendi-
lures and liabilities, with his explanations
thereof In this exhibit he clearly shows that
fifty millions at least of our present tariff and
internal taxes may be wisely out of, and to
this end we would suggest, while COM
promise IL the only course of safety
to the protectionist 1t is q good step
forward to the revenue reformer. Wise
| men adapt themselves to the conditions
of the existing political situation, and solid
reforms are gained only by gradual ap-
proaches. From Mr.. Shermans clear and
careful exposition Of our superduous revenues
we hope that on the tariff and internal revenues
we shall yet have some measures Of practical
relief to the country from this session of Con-
gress, notwithstanding the serious drawback
Of the Presidential agitation.
We have already discussed the great and
encouraging victory gained in the House over
the powerful land stealing coalition concerned
in notorious Wisconsin railway bill with an
enormous grant of public lands attached. We
| are inclined to the belief that this vote means
the absolute abandonment of these railway land
jobs although the land stealers are still
powerful party and appear to be strongly
entrenched in the Senate. The casting out of
this Wisconsin land-plundering job by the
House is nevertheless deadly blow to all the
rings Of land stealers and we cannot believe
that the House will betray the country by
retreating from the strong position it has
gained in dislodging these Wisconsin land
grabbers. After this defeat Of the railway
land subsidy alliance we hope there will be a
vigorous effort made to put an end to these
cash subsidies to steamship monopolies.
There was an interesting running debate in
the House of Representatives the other day
on an amendment to the Post Office Appropri- |
alton BILL increasing the subsidy to the Pacific
Mail Steamship Company for its China line
from five hundred thousand to one million of
dollars year, and making the service fort
nightly instead of monthly. The argument
advanced in support Of this increased subsidy
was that, having been completely cut out of
the Atlantic traffic by the superior subven-
lions of England, Germany and France to
their steamship lines, the only field left open
to us is that of the Pacific, with its inviting
trade of China and Japan, and that even in
this field, without liberal subsidies, we cannot
compete with England. Mr.. Brooks fatty
tells US that this Pacific Mail Steamship Com
pany of ours cannot maintain itself against
the subsidies of England unless it Is supported
by Congress.
Nor is this all that Mr.. Brooks tells us
touching this conflict for the mighty trade of
the Pacific. He is ready to live or to die in
support of this steamship subsidy system. He
will go down to posterity in its support with
Clay and Webster and Crittenden. He could
tell gentlemen that the Collins line failed with
its subsidies because of its bad management,
and that this is a war between the Stars and
Stripes and the Cross of st. George for the
trade of six hundred millions Of people; and
he could tell the gentleman from Ohio (Mr.
Morgan) that the democratic party never could
be maintained and never ought to be main
tanned when it arrayed itself against the CON-
MERGE of the country and in support of the
Cross of st. George. Now, bearing it In mind
that Mr. Brooks has just returned from his
interesting and instructive travels In China
and Japan, that he knows from actual obser-
walton the value of the trade of those swarm
ing nations and the activity of the Gross Of st.
George in those parts, from Hong Kong to
Shanghae and Yokohama, we must admit that
che speaks as one having authority" And
yet the gentleman from Ohio (Mr. MorQan)
makes some telling points on the other side.
He says that the first subsidy of Collins-three
hundred thousand dollars-was used up In the