Kanawha Valley star. [volume] (Charleston, Va. [W. Va.]) 1856-1861, 1859-08-23
| what We Owe Abr0ad.

.$.f al Banker ], writing 10 the New York
Courier states that this counsry owes
| Europe. or various accounts, not less
than four hundred and forty millions Of
dollarsi This is not 3 mere conjacture
lof the writ4r, but he gives the figures,
1 for the several States and Railroad corpo-
firations; and they have al the marks d
being genuine and authentic. Fl.
The total debt Of the States, according
TO this writer. is two hundred and sixty
millions 0fthis sum ninety si1 millions
are held Ia Europe. The debt Of Virgin
! ia Is put down az thirty three millions. ol
which twelve millions are estimated 70 be
held BIZ European capitalists
| The Total debt Of our various Railroad
corporation fooss up toF the enormous sum
lofone billion. fifty millions ofthis i due
abroad. Add to The State and Railroad
tiebt. held in Europe, other Indebtedness
on account of City and County Bank
Bonds. Stocks de-, and the grand ag-
gre5ate amounts, as above stated, TO foul
lhapdrdd and forty millions. Nj.
TIla writer further states that this is tiie
fi!liia iil1 ll4n estimate. Other estimates make
EIoar Indebtedness to Europe atssix hun.
Edrea millionsfot dollars 58
/ This is An immense sum. The interest
flupgn it alone. at six per cent. Tam cunts
/ 10 DIRTY six millions ofdollars a ytaEs n
twill appear, therefore. that the balaapet
/ Of trade ought to be- in our favor, .to5 the
amount Of thifty-six millions, in order Il
make the account even. In truth, Y
fought to be more than that, it we 3expec
Ito diminish and gradually pay off, tht
/ principal 81 tie debt But we are afraid Il "
1 that sacli IS moi Che case. The, New YofI
importing merchants, recovering fromIth
commercial panic rof two years ago, lart
| now rushing into metaphysics extreme =
and their ilhporka liens. lor the last month
are said 40 have been heavier than evel
before id. lie same length Of time. II i
\ easy to sse7that il This continue, the bal
fance Of trade will be heavily against us
leaving altogether out ofthe qusstionIou
moneysi fdeb!edness TO Europe. In fhs
coulSe4ol q few years. this policy. if per.
Sisted IN. win oring about another com
mereial rey1lsions mote disastrous than
| thai of twd years go.-Lyacabu,y Eir.
| giaidn. HI
Ws do not believe our Indebtedness il
1 Palf theaboye sum, but snpPosing that j
Is really So, what capital does our Oppo,
sition Handicapped 10 make out Of il RI
/ Does he desire that we borrow no more
money to push through our Virginia rail-.
rdads aud other great internal improve.
ments, and let our sister States with their
Railroads and canals, and valuable lands.
(made. valuable by their Railroads and
canals, which have been constructed up.
on borrowed capitaD keep ahead of Fif-
GINA, who should be The first State in the
Union 2? Or, does be propose to change
the balance o trade bylAdopting high
protective tariff, thereby making it obliga-
tory upon the American people to 6orrotts
more money from Europe, TO build large
manufactures, whitehall private compa,
MES must do, to be crushed, IS many y.
our railroads have been, by paying high
rates Of interest upon foreign capital ~ 4
When the Virginian answers these ques-
tons, we may have a few more to pre+
pound I'd him.