The Jeffersonian. [volume] (Stroudsburg, Pa.) 1853-1911, 1861-10-17
Capacity of the Country to Sustain War.

Capacity of the Country to Sustain War.
Some persons. whether timorous or un-
Informed, have shrunk back somewhat
ghast at the prospect of $500, 600 900
loan, with the possibility of its being dou-
bled or trebied by continuance of the
war. Such persons may be reassured by
comparing our means aud probable exer-
tons with those of Great Britain in her
tremendous struggle with France and the
half of Europe, for twenty three years, or
from 1898 to 1916. We condense and
set down 10 the nearest millions few Of
the most prominent statistics of that con-
tinental war.
At the commencement of that war, en-
tered upon by Eogland against the prin-
ciples and wishes of at ienst one third Of
the nation, the population of England,
Wales, and Scotland was somewhat less
than ten millions. Ireland may be "coun
ted out" as being disorderly and retel-
lious, and requiring a guard over itself
rather than furnishing men and money
for the strife. During these twenty three
years, the whole outlay of the British
Government was $500, 900, ,000-.
stating it in more striking form, eis bty
| five hundred million dolars-more than
double the whole property valuation of
Great Britain then, and nearly as much
as that of the United States ct present
Nearly one half of this enormous sum, OF
S4, SO, ,0000, 900, was expended on the
war alone. viz. 81 .924 .000,0O for the
army. 81 Gal ,O00, 900 for the navy; $685.
OO0. 1000, for munitions of war; and
S263 600. 900 for subsidies-in palmer
phrase. for hiring foreigners to do their
fighting. The yearly outlay, in all, av
eraged $4,000, 900, and for the war.
which was almost continuous $l92 .000,-
600 And this immense expenditure wa
not, as in our case, made at bone. so
that the money, merely passing from hand
to hand, would still remsinin the possession
and active use Of the nation; on the con
trary. large part of it. probably more
than one-half. was laid out and permanent.
ly lost in continental purchases. Yet, un!
der the pressure of this tremendous load.
England struggled through the contest.
not only With steps scarce staggering cx
cept in two or three yeas of bad crops,
and 10 the fixed suspension of specie pay
ment BY the National Bank, but With
large increase in the sum total of her
wealth, aud an advance in almost ever,
branch of industrial exertion.
The specie was continuously and large
ly drawn from the vaults, till, in 1877.
when the coin was reduced to FIVE and
half millions of dollars, the frightened d.
rectors were relic ed by temporary per-
mission from the Privy Council to suspend
specie payments. The suspension was af
terwards legalized BY Parliament, and
continued by fresh eDactments to the year
1923. During the fret twenty years OF
this suspension the entire gold uintagc
Of England was but fifty five millions OF
dollars, while in the ssven years ensuing
t was one hundred and fifteen millions Of
dollars. In one single year-the last
If the great war, the government expen
liture was six hundred and forty nine
Millions of dollars, while the specie in the
Bank of England was but little over ten
Millions of dollars
If it be asked how England not only
TODD up. but mainly prospered. against
bis prodigious drain on her resource. for
wenty- three years, the answer lies in the
act of Der vast Improvements in machine I
y. which enabled her to 10 manufacture for
il nations. while her domination of the |
ea gave her the outward and inward /
OF the world. i,
We are twice as able as Eueland was !,
carry on war. even of that great =
'ngtb and OF those huge dimensions; for n
ur population-saying nothing of the I,
eutral States-is the exact double. aud p
ur wealth more than the double OF Epg .
md in 1893. Specie from all quarters =
ours 10 upon US in a ceaseless food; the :,
oney of our banks and capitalists lies h
lie and rusting. and our IMPORTS are h
realty reduced; our exports Of bread fc
uffs are much larger than ever. Under F
ese circumstances it is clear that we :,
IN. If necessary, incur and comfortable 9,
rry debt of one thousand or even two %
oussnd million dollars, and pay it of. .,
terest and principal, A. D. 1900. h,
|