Blowing Hot And Cold

The Tote in the House of Kepresentatives upon Mr. Kelley's resolution shows that there ia no settled financial conviction or policy among our Kepublican friends. Mr. Kelley's inflation was approved by a large majority ; Mr. Holman's motion, that no inflation is necessary, by a larger majority ; and Gen. Hawley's, that under no cireumetances should there be any inflation, by general consent. No wonder that the House laughed. lts action was ridiculous. It has evidently no principlesupon tho subject, and and no perception that it ought to have any. Mr. Hawley's resolution declares that the national expenses must be reduced and regmated so as to be defrayod by existíng taxes. As the Secretary of the Navy says, Congress has the power, and if it declares that the present income is large enough, the matter is settled. ]fthe action of the House in adopting the Hawley resolution could be interpreted to mean anything, it would be a peremptory instruction to the committee not to propose a loan or increased taxation, but to forcé the expenses within the inconie, even if everv public work and evory naval preparation should be suddenly stopped, and the rate of official salaries everywhere reduced. But unhappily the action had no meaning whatever. A house which simultaneously declares for inflation and against inflation is a House which will probably do wrong, because it does not understand how to do right. If the Hawley resolution had been deliberately adopted after careful debate, in which the disastrous and cortain consequences of inflation had been fully exposed and considered, a very great step would have been taken toward a happy solution of the diflficulties. But in f'act it was only a counter in a game. Mr. Kelley played, and Mr. Holman and General Hawley played, and nobody won. There was an appearance of action, and nothing was done. Another day Mr. Kelley will try his inflation again, and take care to time his effort favorably. But meamvhile members miglit profitably reflect upon the subject, read the direful story in the experience of other nations, and decide whether, if more money is needed for the govemment, it shall not be raised in the legitimato way, by taxation universally diffused, and thereforo easily borne, and all tho proceeds of which go into tho treasury.