The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1861-08-24
Capacity of the Country to Sustain
War.

Some persons, whether timorous or nnin.
formed, have shrunk back, somewhat ghast
at the prospect Of a $500, 700 900 loan, with
the possibility of its being doubled or tire bled
| by continuance of the war. Such persons
may be re-assuled by comparing our means
and probable eNcrtions with those of Great
Britain in her tremendous struggle with
France and the half of Europe for twenty.
three years, or from 1893 to 1876. We CON
dense and set down in the nearest millions Il
few OF the most prominent statistics of that
| continental war.
AT the commencement ofthat war, entered
| upon by England against the principles and
wishes of at least onc-third of the nation, the
population Of England, Wales and Scotland
was somewhat less than ten millions. Ire
| land may he " counted out - as being dis.
orderly and rcbellious, and requiring guard
| over itself rather than furnishing men and
money for the strife. During those twenty
three years the whole outlay of the British
Government was So, 800, 900 ,O00-or, stating
it in more striking form, eghty-five hun.
| dred million dollars, more than double the
whole property valuation of Great Britain
then, and nearly as much as that of the
| United States at present. Nearly onc-haif
of this enormous sum, or 81 1873 900 900 was
expended on the war alone, viz, $l.92l, ).
| 900, 900 for the army; 81 ,G4l 900, 900 for the
| navy; $500 900 900 for munitions Of war
and $2G3, CUO.0O0 for subsidies-in palmer
phrase, tor hiring foreigners to DO theil
lighting. The yearly outlay, in all, averaged
S3I0,O00, 600, and for the war, which was
almost continuous, SlS2 ,000,0O0. And this
| immense expenditure was not, as in our case
| made at home, SO that the money, merely
passing from hand to hand, would still
| remain in the possession and active use Of
| the nation. On the contrary, Il large part OF
it, probably more than one half, was laid out
and permanently lost in Continental pur-
chases. Yet, under the pressure of this
tremendous load, England struggled through
the contest, not only with steps scarce stag
gerinS, except in two or three years of bad
! crops, and in the fixed suspension of specie
large increase in the sum total of her wealth,
and an advance in almost every branch OF
industrial eXcrtion.
| The specie was continuously and largely
drawn from Its vaults, till, in 1897, when its
| coin was reduced to five and a half millions
of dollars, the frightened Directors We're
relieved by temporary permission from the
| Privy Council to suspend specie payments
This suspension was afterwards legaizcl by
Parliament, and continued by fresh enact
ments to the year 1928. During the first
twenty years Of this suspension, the entire
gold mintage of England was but fifty five
millions Of dollars, while in the seven years
ensuing it was one hundred and fifteen mil
lions of dollars. In one single year the
last-of that great war, the Government
expenditure was six hundred and forty nine
millions Of dollars, while the specie in the
Bank of England was but little over ten mil
| lions Of dollars
If it be asked how England not only stood
up, but mainly prospcred, against this pro-
| dig GUS drain on her resources for twenty.
three years, the answer lies in the fact of her
vast improvements in machinery, which
enabled her to manufacture for all nations
while her domination of the sea gave her the
outward and inward commerce of the world.
! We are twice as able as England was to
carry on war even of that great length and
of those huge dimensions for our popula.
tion-saying nothing Of the neutral States
is the exact double, and our wealth more
than the double Of England in 1893. Specie
| from all quarters pours in upon us in a cease
less flood the money of our banks and
capitalists lies idle and rusting our imports
are greatly reduced our exports Of bread.
stutis and meats are much larger than ever;
and our manufactures will be strengthened
and enlarged by the new tariff policy. Under
these circumstances it is clear that we can
| if necessary, incur and comfortably carry a
debt of one thousand or even two thousand
million dollars, and pay it off, interest and
| principal, by a. d. 1900. On, then, to the
contest, without fear and without reluctance
s.inting nothing to redeem the life and honor
| of the PhilnJeiDhiu In0uircr,