The Hillsborough recorder. [volume] (Hillsborough, N.C.) 1820-1879, 1855-02-21
HOW MUCH THIS COUNTRY OWES.

Its avoIe boast Of Americans that their Government is al
most the only the civilized world which deeply plum
ged in debt So far relates the United Saes lis Fede-
raj capacity il is well founded But far relates the
and thirty Commonwealth Of which the nation composed
an absolute absad since the majority Of these latter deeply
if not nexucaby in debt We hear this bit Of braggadocia
frequently that worth while TO devote few show
ing its folly.
In England France Austria and all other consolidated nations
there is but exehequer every want of Government.
There is consequently but national debt When say that
Great Britain nearly eight hundred millions Of pounds
four thousand millions Of dollars the whole story tod But if
should assert that the entire debt Of the United States less
than sixty Millions should be apt msead The reader For
The Federal Government, which what technically by
the Unied Saes having only circumscbed power not,
and made liable for The principal share expen
Of maintaining order and dispensing law among the people
large. Of This burden falling the separate members Of the
Conderacy give correct idea Of the real Indebtedness Of the
naon therefore, include the debts Of the States.
Now. the total indetiness Of the various Commonweah is
about 1921 100000 divided among twenty States four be-
ing SO fortunate TO nothing viz New Hampshire Ver>
mont Delaware and Florida or twenyseyen the debts Of
under 81 100000 apiece Maryland, Texas Illinois,
Ohio Virginia, New York. and Pennsy States most
deeply in debt The largest absolute debt that Of State
which is over s4O0OO0OO The lowest is a! Of New Jersey,
which is but s7l 900.
The heaviest debt proportion he population The debt
Of Maryland which exceeds sl5.OO0OO0. population Of Eve
hundred and eghywo thousand, bond and free The deb, of
Virginia, though bu. lle numerically than that Of New
Yok-he being S26000000 and the other S24 900 00O-s
than twice heavy relatively population being than
half while the general Of the State greatly INFERIOR
The entire debt Of the naon estimating The Federal debt well
that Of the Saes exceeds s275 0,000
But this still fails give idea Of The total indeb
edness Of country In Europe il except England most
public works constructed By the Government thar the
ona debt includes the Of the principal railroads. canals and
tunpkes But in the United States with the exception of the
Pennsylvania State works, and those OF few other Common.
weas all such improvements owned by private corporations
Now the aggregate Of The principal Of these works compu
ed be 900 900, OF which 5000 alone
ed in railroads. Consequently, il would arrive The
debledness Of these United Sares add the OF this
description OF securities the Of the State and Federal
Twelve hundred millions therefore, about what
~ respectable be acknowledged especially for
tion but eighty years old
10 give entirely jus. idea Of the subject however,
remind the reader that chief part Of this debt attributable the
fact that county, three fourhs those millions hav
ing been spent in developing
Considering the mineral and agricultural wealth u Ameri.
considering also, the ndomabe energy OF people;
sderng the favorable position occupy for conducting The
81 The world this debt seems, compas-
lively lr would be, f always prudent and thrifty
enlerprising Phiiadelphia Ledger