Litchfield enquirer., 1848-03-16
From the Hartford Daily COurant.
HOW STANDS THE ACCOUNT i!

1t seems to lie generally believed that peace
will be made on the terms substantially of
MIR Trisl's treaty. How stands the account at
this point OF affairs! The expenses that have
| been incurred no one can define with perfect
accuracy, for all the bills have not yet been
brought in. Claims growing out Of services.
contracts and losses, will i1undate Congress
long after the settlement with Mexico IL con-
cluded. But several items are known and
entered on the books or can be conj-ctured
with great accuracy let US foot them up.
At the commencement ofthe war here was
surplus in the treasury Of $40 600 o0o.-
The war soon exhausted this surplus, has u.s.
ed up all the accruing revenue, and made
debt which hasn all been funded. but is in
fair wav to have its sum total Increased very
S3s 600 600 OF loans and treasury notes have
| been already authOrized--the loan bill before
Congress authorizes the borrowing Of $40
600 000-and it is Just announced that Secre-
tary Walker has advertised for IS 600 600 10
be advanced on that amount IN re,issuable
treasury notes, If the treansry has not been
misrcpressnied SIS 600 600 additional will be
owed 10 Mexico and an amount of indemni,ies
| due to our citizens estimated at $5 900 700.
This makes a sum total of debt of ST.
600 600. Adding the surplus aforesaid $40
900 900 and $l5 600 600 for land bounties an
estimate which is far within the bounds OF
probability and the total cost is IS 900 900.
| This sum large as it is, does not by any
means represent the whole. The expenses tina,
will follow in the train Ct war must be enor-
| NOUS. The munitions Of war which have been
| accommodating IN the arsenals for many years
must be in great part replaced and the neces-
sary appropriations for this purpose will add
a heavy charge to the annual expenses OF the
government for years 10 come. Justice will
require provision for the widows and orphans
who have been made so by this sanguinary
strife. and who shall say what may be the a.
mount Of pensions so claimed! Private claims
will accumulate and be rolled upon Congress
70. years We may esteem ourselves forum.
ate indeed, if it does not appear that we have
ONE HUNDRED and TWENTY
MILLIONS OF DOLLARS :! besides the
loss Of lives with whose value that Of all the
mines Of Mexico 10 not for moment to be
compared.
And now what are the financial prospects Of
the country. as affected by our glorious war
Hitherto the ordinary expenses Of the govern
ment have been kept within an average Of vet.
900 coo. But the increase of our territorial
possessions. the settlement Of Oregon and tho
cost Of rnaintaing order in CALIFORNIA and New
Mexico, to say nhhing Of the augmented ex-
penditures naturally arising from the constan,
growth Of existing States. must increase this
average to sbou, $35 900 QUO. The days OF
economical government are over. Add now
the interest upon public debt Of $75 900 900
it will be much more than that, but it is
that already and we aim 10 keep within
bounds-and we have an annual ordinary ex-
renditure Of nearly $40 600 900 which must
be met or repudisted.- II a sinking fund for,
the extinction of the debt 10 created and some.
thing must be done to pi"vide for its ultimate
payment, this annual amount must be incieas-
ed. Now we do not believe that anything
short Of direct taxation can meet this necessity
No system OF indirect taxation can raise that
annual sum for years to come.
Here then. we have the blessed consequence
es Of Mr. Poik's efioIt TO extend the area Of
freedom by the sword. A public debt. the
principal Of which will hardly be paid within
the lifetime Of the present generation--cnor-
n M.ly augmented expenses - and direct
taxation.