Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1861-08-09
LATE NORTHERN NEWS.
Cost OF tho War TO the North,

" va NANO H"I = IL
The meagre show that the Secretary OF the
Treasury makes for his ways and means the
coming year, has n very dishearteniug effect
upon the public mind. One appeal is 10 Eng
land at u spendthrift rate Of interest, aud the
other 10 Savings bank depositors, to change
their investments at ~ruinous rates. 1t is q
confession Of bankruptcy.
The universal and growing distress has now
begun to set the public to. thinking. Four
months Of war, in which no blow has been
struck, has produced an amount of bankruptcy
and distress which very few thought possible
six months ago. Property disappears, ant
~nriyatc debts cannot be collected at the NO
Inent when the Government demands 10 pei
cent. Of all the property in the country as q
first war instalment, and 30 per cent. Of al
the men, to stop production and proceed &c
destruction. One hundred millions Of dollars
have already been spent in uniforms, trans,
porta,ion, food, and equipments, and not a
blow struck; OF the same tine $500, 000, 900
worth of property have been sunk BY the
effects Of var.
Thus four months OF unconstitutional war
has already cost 800, DOC, 600, a round sum to
pay for Executive uSurpation; with the pro.
gress Of this depreciation and the $500, 900 900
the President demands for expenses,
ST. 00, 600, 900 moro will have been dissipatrd
before January.
The crop OF wheat is, a, the North and
| West, 90, DOC, 900 bushels. The fall in its value
has been % per cent. or &c. per bushcl this
year. This represents q decline Of S3t, 900, 00L
IN the money value Of that crop alone. The
census Of all the value Of farm produce North
and West, or exclusive Of tic South, is
$54l, GG3, 12T; i fall Of % per cent. in the value
Of that production, is a positive loss o
SI35,4l5, 63l cash, taken out Of the pockets o.
the farmers.
This represents all the profits Of the ~cultiva
tor. The sums obtained only repay the outlay,
This has occurred just when the new crops arr
coming in, and when the new supplies vii
Leprcss prices still further. What vii! be re
allied for those new crops, which are said t.
be large! They will not pay the expenses o.
transportation to market. The income Of the
whole agricultural population is cut oil. Take
Orange and Ulster and other butter and cheesc
counties in this State. what are they to 10 fer
means: Their whole sale is cut oil at a me.
nent when Il ~ruinous tax is imposed for tie
purpose of making war upon those customers.
The census gave the value of manufactures
IL III -NOIlil III = Hut, W. OJ. Lie SldGllhl.Dal
in that business has been very great, and if the
fall in value is placed at % per cent. only, i,
will represent 1913, S7j, 900, but there has
been absolute suspension Of 4 large portion OF
them. The national loss is no DOUBT fully
oae.half. The City Of New York, for instance,
manufactured $25, 900, 900 per annum, Of
which $ls, 300, COO was for the South.
We may no@ turn to the shipping, which
for the moment is absolutely without value.
The quantity Of tonnage owned at the North
isS, ISL tons, worth $3.50, 0Go, QQ4, tie &c.
probation Of which is fully one :hird, and the
loss Of freights so, COO, COLLECTION alone is
$50, Doc, 900. The inpnrtatiOnS :0r the last
quarter have been 10 per cent. only Of those
Of the corresponding quarter last year, entail.
ing q loss Of $4,000, 0G0.
The real estate Of the city Of New York is
1878, 95i, $50, and its depreciation is admitted
to be - per cent. Under forced sales it has
hardly any value. The rents Of these have
declined $40, OO0, 900. The real estate of the
whole North the Secretary Of the Treasury
says, is $1,000, 00O. 600, which, in respect 10
farm lands. is entirely nominal, since the value
exists in the produce realized, as in the rents
obtained, exists the value Of tp~n lots on that
basis the fall is one hall In the cities rents car
not be called more than half those Of last year.
Those farmers who have mortgages to pay
and depend upon the sales Of their produce,
find them doubled this year. The property
in stocks, banks, railroads, &c, has ~frightfuliy
declined, and present values, low as they are,
would only be too gladly accepted. 4 large
portion Of the decline in farm produce is due
to the loss OF the Southern markets. On the
other hand i large amount Of business was
done for SoutherneTs who come North in the
summer, and who cXpend, it has been computed,
TO- 900 people, $500 each or SO, 600, 0C0
in New York, and in the whole country at
least $50, 000, 900.
The South sends North, per annum,
$3.50, 600, 900, in value, and receives an equira-
lent in goods, domestic and imported. The whole
Of the exchange business on which that vast
trade turns is in New York, giving q profit OF
$50 900, 900 per annum. All that is entirely
crushed out, and with it the business Of thou.
sands of persons. The profits Of al! that in
tcrlocked business have persisted to the extent
ofs200, 600, 200.
The course Of business usually brings the
South largely in debt to the North, and these
debts are paid in Spring and Summer. This
year probably 800, 000, 900 remain unpaid,
and the merchants who should have received
it are getting extensions at the banks.
To resume:
Decline in produce, $l35,+lj,93l
Decline in manufactures, 2l3.SI5,g00
Decline in ships freights. 40,o00,0o0
Decline in importation profits, 60, 600, 600
Decline in y. 7. and other city rent, so, 100000
Decline in profits ofinternal trade, 200, 000,0 900
Decline in corporate values, loo, 00O, 900
Decline in Southern debts, 1913 900, 900
Decline in wages by discharge, &c, 100000
Decline in earnings OF 1900, 900 men
in army, 100000
Proyimate decline, 1929, 600, 93l
Add already spent, 100, 600, 900
Proxilnate four months war, 1899, 090, 93l
Thus with the decline in incomes, to the
present standard, and the money subscribed,
over 81, 200, 900, 600 are gore only to support