The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1861-10-05


| debt, that it would not have been strang
liz the systematic outcry Of the. BIRTHS
Press, the great object Of which was t
destroy our credit in European marketa
should have created some anxiety in refer
snce to this matter among ourselves
Such, however, has not been the CASE
No one doubts that the interest on tn
debt that may be created say $500, 900, 00'
can be easily met from ordinary source
Of revenue, with such q we can add
without imposing burdens that will b
complained Of or rarely felt.
A debt Of $500, OO0, 900 is not one.fitti
80 large in proportion to their means, ant
not greater in proportion to their popula
ton than our people have twice contract
ed and twice paid. Upon the adoption O
the Constitution, the debt assumed was
$50, 600, 900. The population Of the coun.
try was 5000, 900. This sum exceeded
$40 per head. At that time the wealth
Of the country, and its means for the pay
ment Of taxes, did not equal tenth Of
those 1t present possessed BY our people
Il had been exhausted BY long wars which
had desolated nearly every portion Of it.
Il wn without commerce and without
manufactures, while at that time there
VA, hardly any demand in foreign
countries for products Of its agriculture.
Il was previous to the use of steam or Of
labor saving machines, or Of any consider
able division Of labor on which all wealth
is based. The population we're widely
scattered, without internal commerce, and
were almost solely engrossed in providing
for their daily wants The expenses and
revenues of Government were on cor
responding SCALE The total expenses Of
the United States for the first fourteen
years after the formation of the Govern
ment, exclusive of payment of interest on
the National Debt, were S53, 373, 47S, and
the yearly average $3,Sl2,391, which is
about one-third of the annual expendi-
lures of the city of New York. This
small sum taxed the industries of the coun
try much more severely than ten times the
amount, in rate to the population, would
at the present day. Yet the debt was
gradually reduced till it was only $40, 0O0,-
900 at the commencement of the war of
1872, when it was swelled to 1927 600, 900
in 1916. The population of the country
at that time being about 5000, 900, the
rate per head was SIS. Notwithstanding
the impoverished condition of the coun-
try, the payment of the debt was immedi-
ately commenced and fully contaminated in
1885.
A national debt not exceeding, per
head, those twice contracted and paid by
our people, is no cause for alarm. But
since the creation and payment of these,
the wealth of our people has increased,
probably in tenfold greater ratio than that
of their population. The valuation of all
the property in the several States, for tax
alton, in 1850, equal $3.50, l52,771, in
1860, 81, 296, 3O6, 942-an increase Of
nearly 100 per cent, the increase Of pop
ulation in the same time was IS per cent.
The increase of the former has been in
threefold ratio to the latter, from the ef-
feet of the new agencies that man is con-
stantly summoning to his aid. The locomo
tive engines in the United States are now
performing the labors of Sc, 100000 hors-
es. The machinery brought into use since
1916 in this country is equal to the labor
of 100000, 900 men. In effect, the pro-
ductive capacity and wealth of the coun-
try has increased as if the population of
the country had gone up to hundreds of
millions instead Of 81, 100000.
This statement strikingly illustrates our
increased means, and is fully confirmed by
the extent of theinternal commerce of the
country, which is almost entirely the re-
suit Of the application of steam to locomo-
ton, and which has been almost wholly
created since 1916 The tonnage carried
by the railroads of the State of Massachu-
sets for 1859, was 3,7l6,726 tons, worth,
at the very low valuation of 500 per ton.
1871, 672, 800. The tonnage of the Erie
Canal and the Erie and New York Central
Railroads for 1860, were 6,767, 1856 tons,
worth at least $676,773, 600-making
an internal commerce, for the two States
alone, exceeding 81 900, 0O0, 900 in value,
nearly the whole of which has been Great
ed since the opening Of the Erie Canal in
1924. Other portions of the country
show a still greater relative progress, as
their public works have not only been con-
structed, but their population supplied
within the last forty years There are
now in the United States 81 500 miles of
railroad, that have cost $3.50, 900, 900.
The loyal States have 70 900 miles of rail-
road, costing $3.50, 00e, 900, and 5000
miles Of canal, costing S200, 900, 900. If
the annual value of the trade of the pub
lie works of New York and Massachusetts,,
with mileage of 5, l60 miles, is equal to
1000, 900, 900, that of the remainder of
the loyal States. with railroad and canal
mileage of 23,500 miles must surely
amount to sum twice as large, or 81, 000,-
900, 900.
This subject can here be only generally
referred to, but enough has been shown to
dispel all fears of our ability to sustain
burdens no larger, in ratio to our popula.
ton, than those twice assumed and twice
discharged. But the ability of country
to bear heavy taxatios does not SO much
depend upon its permanent or accumulat-
ed wealth as upon the productiveness of
its industries. Great Britain the country
to which We are accustomed to refer in
discussing this and kindred subjec derives
only small portion of its revenue from
taxes on property. Of the taxes of all
kinds collected for 1870 amount;po IN