The western Democrat. [volume] (Charlotte, N.C.) 1852-1870, 1861-10-29
YANKEE EXPENDITURES.

The Yankees have already taken the alarm at
the enormous expenditures Instituted by the pres
ent Administration to carry the war against the
South. The Cincinnati Enquirer tells US that six
hundred millions form trife Of debt for the
Yankee nation to bear, whatever President Lin
coin may think of it. 1t adveets 70 the sgnif-
cant fact that it is more than one-seventh of the
debt left upon the shoulders of Great Britain by
eight hundred years of war The wealth of the
United States, it observes, is not one-tenth part
the wealth of Great Britain, and consequently it
will be harder for the United States to bear debt
Of six hundred millions than it is for Great
Britain to bear her present debt of four thousand
millions. The interest on 5000 900 900 at six
per cent is S36,000,000 fully as much as the
customs yield annually, upon an average. 1t
would be necessary therefore, to raise the sum re-
qured for the expenses of the Government by
direct taxation, and the principal would have to
be paid, If 1t ever was paiG, by an assessment
upon the pockets Of the people The. funding of
this debt would create an aristocracy, and grind
down the poorer classes. Taxes upon tea, coffee,
sugar, molasscs-upon all articles of luxury or
necessity-woud necessarily follow and would be
added to the State, municipal, and corporation
debts under which Yankeedom already groans
Such is Yankee estimate of the consequences
dependent upon the creation of debt of six hun
dred millions.
But suppose this war should last ter years;
what will be the state Of the case then? The
Yankee Government is spending at this moment
IS, 100000 week-that is, SAP 600 900 year
Since the revenue from customs is only $50 U00-
600 year, it is impossible to suppose that dollar
of the princ pal thus accumu,ating will be paid off
in the interval. Every year it will be necessary
to raise fresh of S442, 600 900. This vear
the Yankee pays interest on 5000 000. 600, and he
is directly taxed to do it, Next year he pays the
interest 5000, 900 O00 the old debt, and fresh
debt Of S442, 900 900; or, casting up the whole
sum, tie pays the interest next year on 81 ,042-
UOO,OUG, which in round numbers is $50, 600, 600
Thus his taxes are raised every year $50 900 900
and at the end of the ten years he finds his coun-
try upwards Of five thousand millions in debt
and he is taxed to assist in paying an interest
reaching the enormous figure Of $500, 100000
BY the creation Of this enormous debt, the
Yankees destroy everything of which they have
heretofore boosted They destroy their nanufac-
lures, for the taxes Will be so high that they can
not afford to manufacture They destroy com
merce for it cannot exist under such a load Of
taxation. They destroy their cities, for taxation
must render 1t Impossible for any but wealthy men
to rent houses. They reduce the price Of labor
so low that the operatives in the factories cannot
live, and the laborers the farms must be con
tent with the coarsest food They cut up immi-
grafton by the roots, for foreigners will not come
to America to be taxed as highly as they are taxed
at home They deal death-blow to all public
improvements; for who will buy railroad or canal
shares when they are taxed SO highly that they
yield no profit? ? The wretchedness that must
settle down upon all Yankeedom is beyond con-
cepon, and yet the value of these Southern States
to them so great that they are willing to en-
counter it all, rather thar part with them.