New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-06-15
NATIONAL DEBTS AND STANDING
ARMIES.
COMMENTS ON EX-SECRErARY MCCULLOCHS
LETTERS.
THE cOWARDICE OF STATESMEN
Is-r,rln Z-hc RoSinn ,LOnf1nf.

THE 'p w., AH RI Rosfcn yomy1ai
The Hon. Hugh McCulloch, the rx-Socretaaiy
of the Treasury his last letter from London TO The
Nxw-YoRK TRIBUNE upon the financial condition OF LOT
sss 81 e int SrenS debt M The
ton he gives has home application The war expenses
Of and s and iT se sdds ali hcr previous
governments. whether monarchcal. imperial or replD
Dn man. which have been required cover necessary and
Unnecessary expenditures ihe present G3yeimont as
IL has the stamina stand against the unpopulary
which s sIs S c"cy 70 Of pospcnns
so spooious that statesmen who adopt u achie'e ei
toss eclipse When settling DAY This same wan,
OF To impose s m ut for te
past 10 AS some one apply ~ %Ir w,
has es% bill SoS before e. S the ane
Indebtedness though it cannot of course prevent weak
communities from committing financial suicide, VIII put
the brakes upon extravagance by increasing TAXATION
ami thus the taxpayer will be very apt to attend town
meeting and give helping hand u prevent corruPoh
ists from carrying out their JoDs.
THE REDUCTION OF NATIONAL DEBTS.
~ " FROM me Detrou 7r'baur.
The third of the interesting series OF letters
upon husnce which exSecretary MoCulloch is writing
from London to THE NBw-YoRK TRIBUNE Is devoted 10
consideration Of tho remarkable en- & 1a f
national debts In his previous letters Mr. MeCuoch
has so e sCn Saope but in Ills respect the aaya
prn /. entirely with US The traditional policy Of the
United states nation ms p Ssrd 70 hSs y s to @
duce show that the cC %s taken ts by the
eraI Increase Of the debts OF European nations will
the END be.eTes to not their neay
taxed peoples. and to their creditors IL ga
good tSng a oIH S az they are able to do So Sxao
therefore. for tho purpose OF reducing snauoal den
that il is oppressive really means OF increasing
the wealth OF the country because the dent reamclon
besT, a and %%pTeducSe We agree cordially with
tho conclusion Of Mr. MeCuor tn,t me nnls ee n,s
delft as a not too taxation VIII admit II may
not be wise entirely 70 SHa ah m an tcpyene s secu
rites for cuatOn of tho national banks but as
Sefopo the rational debt is So reduced to render
the discussion that phase OF the question one oi iihc
diate practical Importance
THE CURSE OF LARGE STANDING ARMIES
From Ths Troy Press.
Ex-Sccretary McCulloch, IN his fourth let, !,
r ir,,n Io,.ui to IHE NFw-l0kK TRIBUNE, treats oi
the costs enailed by maintaining standing aIi ana
gives France AZ an instance OF COUNTY, 70 n wlIn dsh
of France il enormous beyond computation almost aad
&c her mad desire xr military glory which eliminated
in disastrous defeat France has Compelled her inhapt
ants 10 submit their necks to caboue YOKE OF debt
Thai generation Of peace and most extraordinary pros
prity would hardly lesson 10 percciiDe degree MT
from the nuisance of large standing army and foiG'ecs
Tor us toerbe future If we can Dut r'innln WITHOUT
This incubus Tue coDgratIlaon Is pat enough neh we
learn that army and navy, though SNAIL are costhg
there thing 20 DO thankful fcT IL Is at our go
graphical position and the national polio, alike forbid
gI"nnd What il Grant had had o force of
treIps undor his command sGch as Bismarck
can employ al viii The consequence would have pro
sludod third term agitation any agitation at all We
rational police and trust ho state OF tie Land Will
never require the number TO bc Increased We nave just
beru 10 from the effects OF too many soldiers in
MAY widespread desire TO see That history
herse We have not the force and quite orderly
any nation As pugst who relies ON his art Is forever
eeekug brOls does nation with standing army Az
the same time Il would not be Wise u diminish our
present re- sular army, though more economy In its
would WclcOiue to those WHO have 10 pay
the taxes.
A MAGNIFICENT FIN iNCIAL EXHIBIT
from The Washington chr0nteS =,
ExSecretary McCull0ch has written an able
letter on the national debt. IL was published IN Tim
TKiBusY OF MAY g. III this letter the csSccreary says
The actual debt adjusted and not adjusted at the close
of the War rather al the disbaudIng OF Tue red
eraI army was not less than - 900 100000 On the ISL
OF March last II was S2t37.3lo.os. inc rcdnetch ~
nine aud half years having been $sG2Get,Oll or al
the rate OF S30o0c,0Oo per Sorun NotnIug IKE
this and Dotbtgg at all comparable 10 Y, illustrates the
financial. history Of other naOn Ana YET, Win
splendid chewing the party that should receive tho
credit o magnificent financial exhibit IL do
financial ability We commend the statement OF Mr..
Nc(ulloch The Democratic and Liberal Reform lead
ers Let them spread the figures broadcast the land
TO show how the Republican party has abused the trust
placed In Its hands by generous people
OUR DEBT Foley.
From The Pnst;rgh Gazette
Ex-Secretary of tho Treasury McCullOch is
National Debts and their management Considered ~
sassys on QUO branch Of political economy, they are
sin sensible articles that deal with .he subjects guder