New-York tribune., 1873-01-21
RIJDS ON THE TREASURY.

It. was only a little while ago that there
was an indication Congress would ask 'haV
the temptation of q surplus OF pubic money
be removed. 1t was suggested that
the revenues ought to be cut down
in order to relieve the plethora OF
the Treasury. There will be no occasion
for any such heroic remedy for financial sur
felt. The House has shown an eager DISPOSE
ton TO make the most OF Its opportunl-
ties and vote away the accumulatlng
nublic funds. At least, the overwhelming
feeling in favor of the immediate discussion
of two or three gigantic schemes OF internal
Improvement, which was manifested in the
House, Yesterday, is fair indication of what
we may expect. There is the Virginia
Ship Canal scheme there is the James River
and Kanawha Canal project; and the
plan to connect the waters OF the
Tennessee and Savannah Rivers by the COosa
River Canal These are all treated as mere
bagatelles with which our new system of in
ternal improvements is to be begun. How
many millions are needed to carry out the
whole grand project, we know not yet. A
trifie of round S6OOOO,OOO is asked to begin
with; the details of the other raids will come
after a while.
Next. is an extensive plan for a National
Board of Trade, which is to be composed OF
all the members of the Cabinet but two. This
grandiose organization is to have charge OF the
commercial interests of the country generally,
and of the merchant marine IN particular. III
is to ascertain the tunnage OF the merchant
feet of the United States and to subsidlze II
at the rate of $15 per tun for steam vessels
and SIP per tun for sailing vessels
| This is the first item of the duties Oh
the High Commission; the other par
ticulars will, doubtless, embrace pater-
nal supervision of the railroads, canals
and telegraph lines of the country-when
these become national property. The job is
evidently cumulative. When Congress takes
to building ship canals from ocean to ocean,
we really cannot say what the end will be.
This is all in dead earnest, so far as Con-
gress has gone with it. 1t is in fact, more
| Union Pacific Railroad building. One would
suppose that, while the country is yet ringing
with the scandalOus waste of the peoples
money in the construction of the
transcontinental railway, Congress would
be little diffident about considering any
more such jobs. Some S30,0OO,OOO OF fraud
ulent prOnts nave just Deeu ui'iueu Wy
the Credit Mobilier shareholders. Where
are the Congressman who want other
and bigger rings licensed by Congress to
divide more millions in building canals
all over the United States3 Is it possible that
the unctuous developments of the Union Pacific
Railroad Ring have set the mouths of other
sharpers to watering, 80 that they Will
not be content until the country is trav-
ersed by more lines of bonds and
greenbacks double banked What with
subsidies, subventions, and other Government
aid to these rapidly multiplying projects,
we see nothing but new national loans and
national bankruptcy ahead. 1t is time to call
a halt The country should not stand more than
one Credit Mobiher fraud in generation.
Let us have no canal building to sluice Off
the contents of the National Treasury.