Year: 1873

THE OSTRICH.


Months AGO it was apparent to every man
of sense at ALI familiar with the facts, that
deficit in the Governments revenues was i'm
mineut He estimates Secretary richardson's
intelligence at "a much smaller quantity than
We do, who believes that the Secretary was
not fully aware of "a large impending deficiency
at the time he presented his annual report.
II now appears, from the very clear and full
report of the situation at Washington which
we published yesterday, that there is
a contest between Secretary Richardson
and the House Committee OF Ways
and Means. AS to who shall take the response
bility for proposing an increase of taxation
1t is thought that the people, albeit political
craftsmanship has almost ceased to exist.
especially in the agricultural regions" will
insist Oh holding some one responsible II taxa
ton is increased. They Will also, we beg
leave to suggest, hold some one responsible 1t
the Public Debt continues to increase at the
rate of ten millions month. 1t seems to US
that Secretary Richardson could more justly
he held responsible for cOncealing, to tho best
of his ability and until further concealment
became impossible, the serious difficulties OF
the National Treasury. The legal-tender
circulation in consequence of this folly, is now
destined TO be increased to four hundred mil
lions and the illegal forty -four millions, if
ever Withdrawn, will not be taken back with
out immense difficulty. In our opinion they
are going out to stay, and Wall Street ~ wise
in it's generation to mark up Its stock in
trade.


TIE TRIBUNE, then, accuses Mr. Richard
son, not of calling for increased taxation, but
of concealing the true condition of the Treas
ury. Last October, when the illegal issue
of greenbacks first began to appear In
the statements of the Treasury bal
ances the country was assured that
the unlawful excess was merely temporary,
and would probably be withdrawn before the
end of the month. These sanguine expecta-
tons have not been realized. However, we
put little stress on them. We go direct to
Mr.. Richardson's annual report. In that re-
port the Secretary estimates the deficiency In
revenue for the nine months from the 3Oth of
September to the close of the fiscal year, at
thirteen millions five hundred thousand dol
lars. At the time the report was laid before
Congress and the country two months
of the nine had already elapsed, and
ten millions of the estimated deficiency
had already been marked of All the facts
were az well known to the Secretary then as
they are now. The present month, it j. esti
mated, will add ten MILLIONS more to the de-
fciency. Thus the first three months of the
nine will bring deficiency nearly seven


D,oh,
mate for the whole period So long ago as
Wednesday, Sept. 10, TIE TRIBUNE formally
babe farewell to the Sinking Fund. Mr. Rich
ardson, in his report, shows it the door with
out one word of pity or respect.


But, enough of Richardson. Are the mem
bers of the Committee of Ways and Means
supposed to know nothing of the financial
status of the Government! Are they to call
Oh the Secretary of the Treasury for reasons
why taxes should be increasedi This, it
seems to us, is to subordinate Congress un-
duly to the Executive Congress makes ap-
preparations, and it generally happens that
when money is appropriated it is used. Con-
gress levics taxes. and il is the busl-
ness at least of the Ways and Means Com
mittee to know how much the taxes will
produce. Secretary Richardson did not make
the laws in accordance with which some two
hundred million dollars will this year be
drawn from the people for tho expenses of
Government over aud above tho interest
on the Public Debt About fifteen months
ago Mr.. Dawes was fully convinced by figures
(Which cannot lic), and apparently convinced
thousands of others, that this was the most
economical Administration the country had
seen since the days of John Quincy Adams.
1t might well require great light to make
man who believed this see that the United
States were soon to be travelling the same road
with Turkey and Egypt and Spain. But even
Mr.. Kelley may learn that the United States,
when their expenses exceed their income,
must initiate Turkey either in borrowing or
not paying A spendthrift, though Cesar him.
self, is still a spendthrift.


The plain truth of the matter il this-that
neither Congress nor the Administration ha,
the courage to do its duty. They are both
willing to sacrifice the permanent welfare OF
the country to the prejudces of the selfish
and stupid. While they are saving at the
spigot q great stream is running through the
bung hole. The temporizing policy is the very
worst, but, after all, men do not gather grapes
of thOrns or figs of thistles.


"