The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-02-14
The Condition OF the Treaaury-MR.
Dawes ON Retrsnchment.

Dawes ON Retrsnchment.
AS chairman of the Committee on Ways and
Means Mr.. Dawes occupies position superior
even to that of the Secretary of the Treasury
on all questions touching the financial condi-
ton of the country. When he speaks it is
with an authority which no one else possesses,
for his committee originates all money bills
aud supplies the Treasury with the means
OF meeting the acquisitions of the great rival
of the Committee on Ways and Means, the
Committee on Appropriations Between these
opposing elements of legislation, each claim
ing and generally obtaining the sanction OF
Congress-t one to a decrease OF the reve-
nue. and the other to an increase OF the
expenditures-the Secretary OF the treasury
becomes mere bookkeeper, trying the i'm
possible feat of balancing an overdrawn &C
count That the Secretary should fail is not
more to be wondered at than that the dis
tinguished Mr. Micawber failed in the beauti-
full theory he enuncated to Traddles about
living within ones income, especially when
we remember that both MIR. Richardson and
Mr. Mcawber have the same system OF
fnance-paying one l. o. u. with another.
Accordingly MIR. Dawes great speech in the
House on the condition of the Treasury was
not so much an attack upon the Secretary as
it was an assault upon Mr.. Garfield and his
money-gving bills That it is so regarded
is apparent from the outcry that is raised
against it, the smart of the lash being
felt by the party leaders who have brought
the Treasury to the verge of bankruptcy.
The Presidential campaign of 1872 was con-
Quoted upon two issues by the successful
party-the boosted payment of the national
debt and the promised reduction in the public
burdens Only one fiscal year has elapsed
since that time, during which not dollar of
the debt has been extinguished, while the ex-
penditures have been largely increased-how
much we care not to say, because this is the
very point in dispute between Mr.. Garfield
and Mr. Dawes. And we have the authority
of Mr.. Dawes for the statement, to which, we
infer, the Secretary of the Treasury assents,
that the close Of the present fiscal year will
show balance Of only ten million dollars,
margin insufficient to protect the Treasury
from bankruptcy. This exposure, though it
has been apparent all along, is all the more
remarkable coming from the source ii does,
and it is not wonderful that Mr.. Dawes
motives in making q speech which bears so
harshly upon his own party and the majority
in Congress should be sharply questioned by
the politicians who believe in giving the
coule,r de rose to all the operations of the ad-
ministration A politicians motives are
always proper subject for criticism, but in
this case the motives of MIR. Dawes are of little
consequence if his assertions are true. 1t is
no new thing in the Chairman of the Commit
tee on Ways and Means to favor economy.
Since be has occupied his present position of
leader of the House he has more than once
protested against the lavish outlay it is habit
with Congress to impose upon the country
In his own district, two years ago. be made
speech which clearly indicated the disasters
which have since fallen upon the country,
and if he did not faithfully stand by that
speech it matters little now that he gives us
faithful account of the present and prospect
i've condition of the Treasury. We have
found frequent occasion to criticise Mr.. Dawes
in other respects, but in this matter, certainly
the most important which can engage the at
tention Of Congress, bis conclusions seem to
be as Just as his averments are bold and
manly. 1t would be unkind, to say the least
of it, to seriously discuss Mr.. Dawes motives
for making a speech which SO clearly points
out the faults Of our financial system and the
remedy for the evils.
Taking it for granted that bankruptcy is
impending over the Treasury all that remains
is a discussion Of the proposed remedies. Ac-
cording to Mr.. Dawes these are three in num-
bez-increased taxation, temporary loan, or
retrenchment Mr.. Dawes earnestly argues
for the latter; and this is no new plan with
him. 1t has been steadily advocated by the
HERALD also, from the beginning, as
to pursue in this matter. The expenses Of
every department of the government must
be put at the lowest possible figure. General
Garfields appropriation bills must be jeal-
ously scanned. Every item not Of absolute
necessity, especially items looking to prospec-
tive improvements, must be stricken out The
provincial cities must be required to wait for
their new post Offices New York needs many
new buildings for the public business;
but even the metropolis, with its vast
commerce must get along in cramped
quarters till the country is in better condition
to meet increased obligations. River and
harbor improvements are out Of the question.
Useless offices must be abolished. Mr.. Dawes
suggestion for closing ports where the GUS
toms expenditures are greater than the receipts
is one to be honestly acted upon by Con-
gress. Economy in public as in pri-
vate affairs is the only method to make
both ends meet Voting away the public
money to the extent of even q single dollar
beyond that authorized by the most rigorous
economy at q time when the currency is de-
RANGED and the reYen ne falls below the cur: