Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1861-08-23
OF tho country 10 sustain war.
SOME SUGGESTIVE COMPARISONS.

SOME SUGGESTIVE COMPARISONS.
[From the Philadelphia Inquirerl
Some persons, whether timorous or unin-
formed, have shrunk back somewhat aebast
at the prospect Of $500, 900 loan, with
the possibility Of its being doubled or treb-
led by a continuance Of the war. Such
persons may be treasured by comparing our
means and probable excrtions with those Of
Great Britain in her tremendous struggle
with France and the half of Europe for
twenty-three years, or from 1893 to 1916.
We condeuse and set down in the nearest
millions few of the most prominent sta
tistics Of that continental war.
AT the commencement of that war, en-
tered upon by England against tho princi.
pies and wishes of at least one-thrd of the
nation, the population Of England, Wales
and Scotland was somewhat less than ten
millions. Ireland may be ''counted out"
as being disorderly and rebellious, and re-
curing guard over itself rather than fur
nishing men and money for the strife-
During those twenty-three years the whole
outlay of tho British government was
$500, 1000, ,000--or, stating it in more
striking form, eighty five hundred million
dollars-more than double tho whole prop
erty valuation Of Great Britain then, and
nearly as much as that Of the United States
at present. Nearly one-half of this enorm-
GUS sum, or $4,1s9 100000, was expended
on the war alone, viz, 81 1924, 100000 for
the army; s1,641, 100000 for the navy
S355o00,000 for munitions of war; and
$263,000,000 for subsidies-in palmer
phrase, for hireing foreigners to do their
fighting The yearly outlay, in all, aver.
aged $370,000,000, and for the war, which
was almost continuous, $1S2,00O,0 O,0OO.-
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,
a large part Of it, probably more than one
half was laid out and permanently lost in
continental purchases. Yet, under the pres
sure of this tremendous load, England strug-
gled through the contest, not only with
steps scarce staggering, except in two or
three years bad crops, and in the fixed sus.
pension of specie payments by the National
Bank, but with large increase in the sum
total of her wealth, and an advance in al
most every branch of industrial exertion.
The specie was continuously and largely
drawn from the vaults, till, In 1897, when
the coin was reduced to five and half mill
ions of dollars, the frightened directors were
relieved by temporary permission from
the Privy Council TO suspend specie pay
ments. This suspension was afterwards le-
galized by Parliament, and continued by
fresh enactments to the year 1928. Dur
ing 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 millions of dollars. In one single
year-the last-of that great war, the gov
ernment expenditure was six hundred and
forty-nne millions of dollars, while the spe-
Gle in the Bank of England was but little
over ten millions of dollars.
Ifit be asked how England not only stood
up, but mainly prospered, against this pro-
digious drain on her resources for twenty
three years, the answer lies in the fact Of
her vast Improvements in machinery, which
enabled her 10 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 a war even of that great length
and of those huge dimensions: for our pop
ulation-saying nothing of the neutral
states-is the exact double, and our wealth
more than the double, of England in 1898.
Specie from all quarters pours in upon us
in ceaseless flood; the money of our banks
and capitalists lies idle and rusting; and
our imports are greatly reduced our exports
of breadstuifs and meats are much larger
E than ever. Under these circumstances it is
clear that we can, if necessary, incur and
comfortably carry debt of one thousand oil
even two thousand million dollars, and pay
it of, interest and principle, A. D. 1900. On
then, to the contest, without fear and with
out reluctance, stinting nothing to redeem
the life and honor of the nation.