The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-12-03
the fiscal year ending the 30th Of June last
are given in the aggregates as follows:-

TOtat net receipts 1914 lO6, S6I
Total disbursements. ................ 37741S2l0
For further details of these Treasury opera
tions we refer the reader to the Message. 1t
gives us fair exhibit of the condition of the
Treasury; but we are sorry to hear that it is
doubtful whether any further reductions in
our national taxations will be practicable for
the present
Diminishing the exhibits of the other depart
ments, which we have already published, and
numerous incidental recommendations, which
are generally well considered, we come to a
catalogue Of internal improvements suggested
for the action of Congress and to list of
recommended steamship subsidies sufficient
to make the bones of "Old Hickory" rattle in
their coffin. These jobs would be enough,
perhaps to occupy the exclusive attention of
the two Houses for session of twelve months
duration and yet they furnish such grand
opportunities for Congressional log-rolling
that we may expect to find some of these prof.
cots, with their canal and steamship subsidies,
dovetailed into the appropriation bills. Here
we think the President is launching into
sea of expenditures, the shores of which can
never be reached, although he puts in the
saving clause that he is not prepared for these
inland adventures until it is clearly shown
that they arc of national interest and will pay
But on the steamship subsidies he says that
''an expenditure of five millions Of dollars per
annum for the next five years, if it would re-
store to us our proportion of the carrying
trade of the world, would be probably ex-
pended" Yes but would the end in view be
gained by this subsidy system2 We fear that
this money would be wasted. and we hold
that this is not the way to build up our carry
ing trade.
On the question of amnesty the Executive is
inclined to be generous, and hopes for tho
restoration in the South Of order and security
to life and property but, meantime, he has
no further recommendations of amnesty to
make. He holds to his Indian policy, and
recommends territorial rights to the Indian
reservations; he gives good report on the
Public Lands, the Census, the Agricultural
Bureau, the Signal Service, Pensions,
Patents, and the Bureau on Educa-
ton. To bring the intraotable Mormons
Of Utah to terms revision Of their
Territorial law is recommended liberal
appropriations for Washington city are sup
ported, and the Message closes with the
adherence of the President to his policy Of
civil service reform. It is valuable State
paper, trimming over with oil the vast and
multifarious concerns of the country at home
and abroad. Unpretending in style and prac-
teal in its aims, it may be pronounced good
Message But upon his steamship subsidies
and inland canal schemes General Grant is
entering upon field Of costly experiments,
compared with which our enormous Pacific
railway grants and bonds are mere trifes
and the seven millions paid for Alaska were q
bagatelle. But if the grants Of money sug-
gested as the beginning of these commercial
subsidies are appalling, what will they be in
their full development? If we could boast the
full redemption of our national debt there would
still be something alarming in these stupen-
dous propositions of trans-Alleghany canals
made and steamship lines supported by the
Treasury; but as it is, in our judgment, we
have but the alternative of abandoning these
costly schemes OF the ultimate reputation Of
our national debt.