The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1875-02-12

OF seven years from is lnstituiion
The sinking fund was sabshed upon the theory that
the interest upon the funded debt should be Tor
aud that one cent OF the principal should be
SO lar as the interest Concerned and more Than
plished so TAR as the liquidation OF the principal Is con
formed IN payment interest BUT there has been arscr
Ken. iuIl tain With Tie bubble creditor win
so war rate OF taxation WAS naintaned Tor several
probable 0 the c"r:
shns s ne nS he
had tae effect OF procuring which und er
cured But have less naiional prosperity. We
rs a n S DsTH rss Of sa ros
man who has been s,r.c zen down with 2
and oh vsical enab ed him with snd treatment
a lie 1 may the We
accidents occur be once more strong IN health and
vaescence. Scarcely yet sha tie government
at such PERIOD ip,erve,e MN II strong arm OF mper
nearly depleted, portion Of what Is left
proest IN their name asainst 50 srea. sr"nr and
shall not until Imminent danger the public credit
and general welfare threaten vote another cent tax
a' But %s n s pressns denaaa At III. timer have
shown that it be founded real emergency
likely to exist There must other OBJECT hope
caed wen PIE e. ,ha prs reserve fund to be
raormay OF q the country not now
by the people may at the
throw a doubt upon the integrity. OF the Ex.
direction to press this additional taxation upon
the coun ~ a, this time and without substantial cause
purpose which Is as yet undevel 10, ed Whether am
he ID & rcaared reyeue s T obane nav na
be ued IN an ATTEMPT TO effect the military suoiugaion
Recent shaken confidence OF the coun-
resard to soe Of The Southern ate. I ne IKE NIL
Iary interference with the states civil power shall
TO conclude that the snews war required these
objects.
But be true thai there Is dehciency in the Urea.
tonai WHY II that does suggest Itself
10 the government and 10 its supporter Congrcss that
tnt Uue rsieuy ,les ~ eSohon an' ne cugtaneLt OF
snng e%penuiIsres nis me,hol OF nee 'iil the De.
pS bo be ioGaSisa on the
rslaeed aceolaingly aminatlon OF receipts
Wnen losses Or harl times overtase an indvioga his
Not So win this government maintains the ex.
ravagance as characterized u when we hal national
nsca. year ending June 81 is7i showed 10 reduction
SS J & ,1f o no 5
fore the two nouses Congress shan oge.her with
altogether probable that those ending the 3}h June
AtiasI Congress when discussing the que
ton Of the public finances, presented table gathered
Tor The hys years ana sas sesteG how an asgresae
wien could mi ngar igo eublc service without gy
ing details the branches Oi tie pubic service when are
maintained upon unnecessarily extensive scale are
the military, nayai ana indian anairs, 10 which may be
audcd extraordinary extravaganza IN appropriations
by Aonircs or pubic works river ana harbor improve
ments. judicial expenses and other purposes coming
unaer tue head miscellaneous. u al earnc 81
cNort we're ma ie in thc iine Oi economy IN these
branches AT least S3000O could savcd eavng quite
a. much efficiency and lar more integrity than
msnllest eiasins ms s90u@J rom The secretary.
estimate OF TIE expenditures Tor the fiscal
there would be suroius lett after providing oT inc
sinslng tund. under MS construction OF his outs will
reference 70 H. III 1855 the expenditures Of the govern
ment reached thcir maximum before the when the
COVE uue t,,odt
s12OOOU IN round numbers In 1877, seven wears aftcr
the war closed these same expenditures amounted &c