Year: 1868

paper referred to, assaulted the critic when he
was leaving the theatre and beat him in an un-
merciful manner. This 'sKu Klux Klan" style
of doing things in the theatrical world should
be put stop to at once Critics have sufri-
cently onerous duties to perform without being
liable to wanton assault and injury for the
frank expression of their opinions. There is
always satisfactory court of appeal against
them for the wronged actor or manager Their
employers and the public are sufficient safe
guard for the genuineness of their criticisms.
The National Debt Statement and Financial


Prospect Before Us.


Mr.. McCulloch makes slow progress in the
reduction of the national debt, notwithstanding
the extraordinary amount of taxes imposed and
the vast income of the government for the last
few years. From the official statement pub
lished yesterday 1t appears that on the 1st
of this month the debt was, in round numbers.
after deducting the cash in the Treasury. two
thousand FIVE hundred millions. On the LIST of
May last year it was two thousand FIVE hundred
and twenty millions. That is, there has been
a reduction, apparently, Of twenty millions in
the last year. This ia very small amount, if
even it were an actual reduction In the burden
of the debt, considering the immense income
and resources in the hands of the Secretary of
the Treasury. But the debt has been only
nominally reduced twenty millions, while the
miserable financial policy of Mr.. McCulloch has
vastly increased its weight. Ont of the twenty
millions reduced about eleven millions were of
the debt bearing no interest, and consequently
the people were relieved of no burden to that
amount. Thus about seven millions only of
the interest bearing debt have been liquidated
last year. But against this we find that Mr..
McCulloch's transformation of the currency
interest bearing debt to the gold interest debt,
to the amount Of over hundred and thirty
millions, makes the burden over six millions
year greater than it was before which is equal
to an addition of q hundred millions to the bulk
of the debt That is, the country is relieved
merely Of the interest on seven millions
paid, amounting to seven hundred thousand
dollars in currency a year, while by the change
of four hundred and thirty millions Of currency
interest to the gold interest debt the annual
payment is increased about six millions and
half. We are required, at the present price of
gold, 20 pay six millions and half more inte-
rest On the debt this year than we had to pay
last year. This is the way in which Mr.. McCul-
loch's figures misrepresent facts, and such is
the wretched and ruinOus mismanagement of
our national finances in the hands of this incom-
petent Secretary.


1t is said the Committee of Ways and Means
has appointed and instructed subcommittee
to take into consideration revision of the tariff,
cies in the revenue. 1t may well be alarmed as
to the future. The reduction of the revenue to
the amount of a hundred millions year, by the
law recently passed excmpting manufactures
from taxation, and from other measures lately
passed, while the enormous expenditures and
extravagnnce are kept up, will certainly leave
friphtful deficiency. If Mr.. McCullocl, with
an income of five hundred to six hundred mil
lions year, cannot reduce the debt more than
few millions. while at the same time he actl,-
ally increases the yearly interest six to seven
millious how is il possible TO meet the demands
of government with u revenue cut down hun
dred millions or more! Congress may try TO
bridge over the difficulty till after the Presiden-
tial election, and probably by an imitation of
the clrrcncy but this would only nc a tempo
rary expedient. A bankrupt treasury must be
the consequence, which will be followed by
such revulsion and crash as have never been
witnessed, perhaps, in this country before. A
reckless and corrupt Congress and an incapa-
BILE Secretary of the Treasury are hurryipg us
on to this inevitable result.


Southern Ann Auarchy-ssSOmcb0dy's (;Ot Ia