The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1861-10-25
Yankee Expenditures.
tFrom the Richmond Dispatch. |

Cincinnati Enquirer. in an article repub-
lshed by us yesterday, tells MS that six
hundred millions form no triae of debt
for the Yankee nation to bear, whatever
President Lincoln may think Of 1t. 1t
adverts to the significant fact that it is
more than one-seventh Of the debt left
upon the shoulders of Great Britain by
eigh. hundred years Of war The wealth
of the United States, it observes, is not
more than one-tenth part of thewealth Of
Great Britain, and consequently it will be
harder for the United States to bear q debt
of six hundred millions than 1t is FOL Great
Britain to bear her present debt OF four
thousand millions. The interest on $780,
100000 at six per cent. is S3G,OOO,OOO,
fully rs much as the customs yield annu-
ally, upon an average. II would be neces-
sary, therefore, to raise the sum required
for the expenses of the Government by
direct taxation, and the principal would
have to be paid, if it ever was paid, by an
assessment upon the pockets of the peo-
pie. The funding of this debt would
create an aristocracy, and grind down the
poorer classes. Taxes upon tea. coffee,
sugar, molasses--upon all articles of luxu-
ry Or necessity-would necessarily follow,
and would be added to the State, munich
pal, and corporation debts under which
Yankeedom already groans. Such is
Yankee estimate of the consequences de-
pendent upon the creation of a debt of
six hundred millions. .,,
But suppose this war should last ten
years. What will be the state of the case
then? The Yankee Government is spend
ing at this moment SS.500,000 week
that is, S442, 600 year. Since the
revenue from customs is only S3G, 100000
a year, it is impossible to suppose that n
dollar Of the principal thus accommodating
will be paid off in the interval. Every
year it will be necessary to raise fresh
sum Of $40 100000. This year the Yam
kee pays interest on $500, 100000 and he
is directly taxed to do it, Next year he
pays the interest on 5000, 100000 the old
debt, and fresh debt of S442, 900, ,O00 or,
casting up the whole sum, he pays the
interest nextyear on 81 ,042 900, 900, which
in round numbers is SG0000,0O0. Thus
his taxes are raised every year S3G, ,OCO, 900,
and at the end Of the ten years he finds
his country upwards of five thousand mil.
lions in debt, and he is taxed to assist IN
paying an interest reaching the enormous
figure of S300,0O0,000. Now, the total
annual charge for interest, management,
&C., of the funded national debt of Great
Britain never exceeded f42 100000 ster-
ling, or about S2l0,0OO,OOO, and it only
reached this figure in 1916, the year after
the Great French wars were finished. The
Cincinnati Enquirer says that the wealth
of Great Britain is ten times as great as
that of the Yankees. We know not the
relative value of property in the two coun
tries; but this we know; that in 1916, the
period when Great Britain paid most in
terest, the public and private property o
the British Empire exceeded four thou
: sand millions of pounds sterling, that il
e twenty thousand millions OF dollars. ant
that the aggregate annual income in Grea
e Britain and Ireland exceeded four hun
' dred million OF pounds sterling, or two
n thousand millions of dollars. Have til,
o Yankees any such basis as this to fount
b the creation or n larger debt, bearing
U larger interest, upon?
n By the creation of this enormous debt
t the Yankees destroy everything of whicl
g they have heretofore boosted. They dc
9 stroy their manufactures, for the taxes will
, be SO high that they cannot afford /
manufacture. They destroy commerce
for it cannot exist under such load G
J. taxation. They destroy their cities, 70
l. taxation must render it impossible for an
: but wealthy men to rent houses. The
n reduce the price of labor so low that tn
', operatives in the factories cannot liv,
It and the laborers on the farms must b
9 content with the coarsest food. They Gu
q up immigration by the roots, for foreigr
: ers will not come to America to be take
J. as highly as they are taxed at home.-
J. They deal death-blow to all public in
= provements; for who will buy railroad {
9 canal shares when they are taxed so higl
: ly that they yield no profit? The wretcl
). edness that must settle down upon o
q Yankeedom is beyond conception, and y,
5. the value of these Southern States to thel
3, was so great that they are willing to Ell
l. counter it all, rather than part with then
o General Johnston's staff.