The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-01-06

serve for the metropolis IT'S position as the carrier
After stating that the Champain and Oswego
canals are in a sense trunk canals, and that the
Governor discusses the PROJECT to ABANDON or sell
the lateral canals ana alludeS to their use as
feeders OF the Erie. and suggests q commission to
investigate these subjects The Message then
proceeds at length with a discussion OF the whole
subject OF currency and finance, showing the
prices and provoke speculation, naturally to be
followed by falling values ana general distress.
1t is now almost ten years since the civil war
ceased. That period ought TO have suf1ced to re.
waste Of our accumulated capital and to restore
to our people q sound and durable prosperity.
But an indispensable condirIon OF snca res9i,S was
gality in public and private consumption.
MIsUSED POWERS OF FEDERAL GOVERNMENT
The federal government mas all the while been
the greatest single power in the country TO tnau-
ence results not only by its own vast fiscal opera
lions its dominion over the currency and the
business of banking and the enecf OF It's trahsac-
lions on investments or capital and on the tenn
porary conditions OF the money market. but BY
the ascendancy 1t acquired during Q period OF
public danger over public opinion and over the
Conduct OF individuals. 1t is TO oe deplored that
thta great apacILv for controlling action and for
the period has been characterized by unsound
public finance, an uncertain policy In respect to
the currency, q series OF speculative excitements
tending to unprOductive enterprises and unremu-
nera!v s,ressn@ rsa S In credit and
business: want OF efficiency and economy IN
production extravaganza IN pubic and private
expenditure enormous taxation and complicated
systems OF reyenue-which have increased the
cost and wasted the fruits OF that taxation, aud
rendered capital and labor less productive-and
freuuent spOiiation OF private and public trusts.
"'40'"' GoyERNMESrs TOO COSTLY.
In rho decade beginning July l, 1865, the people
will have paid In taxes, computed in currency,
AZ 600 OOO OOO Tnree-hlths were for the use OF the
federal government and twoaths for the State
that some portions OF the municipal expenditures
were for objects not strictly governmental but 1t
cannot be questioned that much too large pOr-
ton OF the whole net earnings Of industry and OF
the whole net income OF society is taken for the
The burden could more easily be borne when
values were high and were ascending. As they
recede toward their former level the taxes con-
sumo larger quantity OF the products which have
to be sold In order TO pay tnem. Tney weigh WIN
constantly increasing severity upon all business
and upon all classes. They shrivel up more and
more the earnings OF labor. This condition OF
things ought to sdmonish us. In our respective
Spheres TO be as aostInent as possible in appro.
prations for public expenditures. II the cost Of
government In our country were reduced as II
tSan PEARS s9o taxing account s Oh the prces
OF the products which, In order to pay that cost,
We are compelled to convert into money.
TAXATION TOO BURDENsoME-THE PRosTRATIoN OF
THE SOUTH.
The people are less able to bear sucn taxation
by reason OF the want OF efflclency and economy
IN production, and the want OF lrugallty in con-
sumption, generated by the causes already 1ndl-
Gated and also by reason OF the failure to COM
pletely renew the productive energies ana activt.
ties OF the States OF the South when furnish
about half OF the eXpOrtable commodities OF the
country other than specie; which are large con-
sumers OF our manufactures ana productions, ana
which make US their carriers, merchants ana
bankers In all their domestic and Foreign transac-
tiOns
1t has been proudly ascribed to the humanity OF
our age that, since the surrender at Appomattox,
not one life has been sacrliced to the policy Of the
victorious government. 1t is to pc wished that
we we're equally free from the criticism that the
retribution visited upon our former adversaries
merely conforms to the higher modern estimate
OF property as compared with lie; that exer-
Cising moral coercion, lnvlg0rated by standing
menace OF military force, we nave held those COM
munites, bound In wlthes, to be plundered by
rulers destitute OF support In their public opinion,
FINAL ACCEPTANCE OF AMENDMENTS TO THE
FEDERAL CONSTITUTION.
Such has been our course. after and IN spite OF
the fact that these our kindred IN q common an
cestry, common heritage ana common iuture,
had Joined at national conventions IN the nomln.
alton OF candidates and In the declaration OF
principles and purposes, which form an authentic
acceptance OF the results OF the war, embodied IN
the last three amendments to the organic law OF
the Federal Union; and that they nad Dy the
SURFACES OF all their voters, At the last national
election, completed the proof that now they only
seek to share With US and TO MAINTAIN the common
rights OF American local sefgovernment, IN
stitution and one destiny"
There should be no misunderstanding as 10 TINS
position OF our southern brethren or OF any por-
ton OF our fellow citizens The questions settled
by the war are never to be reopened.
The adoption oil the fourteenth, nlteentn ana
sixteenth amendments TO the federal constitution
closed ore great era IN our ponulcs IL marked
the end forever OF the system OF human slavery,
ana OF the struggles mat grew OUT vi that sys-