The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1855-02-16

| IL is tavorlte boast of Americans that Ihelr
government is almost the only one in the civilized
world which is not deeply plunged in debt. So
| far it relates to the Unite States in its ede-
raj capacity, ii is well founded. But so far as ii
relates to the and thirty Commonweulths, OF
which the nation is composed it is absolute ab-
surdiry, since the majority Of these latter deep
| ly if not inextrcably in debt. We hear this bit
OF braggadoca SO frequently, that 1t Is worth
while to devote a few moments to show its Jolly.
In England. France, Austria, aud all other
consolidated nations, there is but one exchequer
ITO meet every wan, OF government. There is,
consequently, but one national debt. When we
say that Great Britain owes nearly eight hundred
millions of pounds, or four thousand millions Of
dollars, the whole story is told But if we should
assert thathe entire debt Of the United States was
less than sixty millions, should be apt to mis-
lead the reader. For the federal government
which is what is technically meant by the term
United States, having only circumscribed powers,
is not, and never can be, made liable for the prin.
cipaI share of the expenses Of maintaining order
and dispensing law among the people al large,
most Of ;his burden falling on the separate mem
bcrs Of the coniederacy. To give correct idea
of the rea! indebtedness of the nation, therefore,
must include the debts Of the several States.
Now, the total Indebtedness of the various COM
monweallhs is about two hundred and twenty one
millions of dollars, divided among twenty .seven
Sta!es iOur being so fortunate as to owe nothing,
viz: New Hampshire, Vermont, Delaware and
Florida. Of these twenty seven, the debts of
seven are under million apiece Maryland,
Texas, Illinois, Ohio, Virginia, New York and
Pennsylvania the States most deeply IN debt.
The largest absolute debt is that OF our State,
which is over forty millions; the lowest is that
Of New Jersey, whch is but seventy. one thousand.
The heaviest debt, in proportion TO that of the
pOpul latlon, is the debt Of Maryland which tx.
ceeds fifteen millions, in population OF five hum
dred and elghy.tWo thousand, bond and ffee.-
The debt of Virginia., though but little greater nu-
n1ericav than that Of New York-the one being
twenty six millions and the other twenty-lour-s
more than twice as heavy relatively, the popula-
ton being less than half, while The general re-
sources of the State greatly inferior. The en-.
tire debt of the nation, estimating the federal debt
as we'll as that of the Safe, exceeds two hundred
and seventy five millions Of dollars.
But this still fails to give an accurate idea oi
the total Indebtedness OF our country. In Europe,
ifw rAcep EugIand, most public .Dnrks
srucled by the government, so that the national
debt includes the cost Of the principle railroads,
canals and turnpkes But in the United States,
with the exception Of the Pennsylvania State
works and those Of few other Commonwealths,
all such improvements are owned by private cor.
porations. Now the aggregate cost Of the prlncl
pal of these works is computed to be one thousand
millions Of dollars, of which six hundred millions
alone are invested in railroads. Consequently, if
would arrive at the true Indebtedness Of these
United States, must add the amount Of this
description Of securities to the amount Of the
State and federal ones. Twelve hundred millions
of dollars are, therefore, about what owe-a
very respectable sum, it must be acknowledged,
especially for a nation but eighty years old.
IL give an entirely just idea of the subject,
however, we must remind the reader that chief
part of this debt is attributable the fact that
country, three fourhs Of those millions
having been spent IN developing our resources.
Considering the vast mineral and agricultural
wealth of America, considering, also, the indomi-
table energy of our people, considering the IA
vorabIe position we occupy for conducting the
commerce Of the world, this debt, enormous it
seems, is comparatively small, would be, il we
were always as prudent and thrifty as we en-
terprising. Philadelphia Ledger.