St. Mary's beacon. [volume] (Leonard Town, Md.) 1845-1863, 1861-09-12
From the Lo"do" Times. Aagus 18th
THE WAR LOAN.

Inc as@les Of Acrxes and the wealth OF
Solomon would hardly sustain compari-
s"n With the hosts 1t men and mountains
of money which--at any rate up.,n paper
are placed st the command Of President
l.inc"ln for the suppression ofthe Southern
Cuufdcrscy. W. may venture, perhaps,
(" pass without tho rigorous scrutiny the
loId. though somewhat gasc' nading. vot.
by which the intelligence If the defeat at
Mansssas Was received in Congress. The
miilions 10 prrcipisately offered represent
I'd. probably. the patriotic resolution Of
the North to spend thc last dollar iu tn.
presrrvation Of the Union: but. without
pressing these loosc figures ~ their literal
import. We are really sstounded at the con-
clurions which are forced up.m Us by re-
cent reports. Il used to be Thought tha.
this country had attained an unhappy. bu,
unapproachable. e,aiuence in national in
d,Ltcaness. Half our entire expenditure
in Ordinary years goes still to pay the in.
t.rsst OF bOrrowcd money. and when we
were told TO losk ut America, and observe
h"w under the Democratic institutions a
country - f"pulous as our own could bc
governed ct Q quarter Of the expessse. We
c06j1 not but feel the force Ct the contrast.
We knew. indeed. that America had al
her temptations to come. and it was oc-
cssieaslly remarked in these columns that
the tendency to extravaganza on the other
eide Of the Atlantic was rapidly increas-
ing. but the comparison still remained a
. ritiug one. NV. however, q critical
test hss been applied. America. is iu-
voled in war. aud the rate 1t ~hich she i.
raising men and u'oney will. if carefully
examined. sppear almost too extraordinary
f,r belief
The exact position Of American 6nan-
ces must be to great extsslt . matter
Of estimate even IN the co1ntry itself ;
but is has been calculstcd, on GOOD au-
thesity, thst the actual expenditure oi
the Federal Government at the prrsent
moment 10 It the rate OF E75. .OOO. 900
per snnum. This, II is true. il less By
E9. .OO0. 900 than the amount OF our own
sxpenditure-E84 .OO0. .OOO--an the hea.
>isss year Of the Crimeau War; but one.
I .ird Of that charge was absorbed iu pro.
siding for the interest Of the National
uebt. and the whole sum onlv showed
M excess Of some E35 900. 100 over our
ordinary peace expenditure. Iu 1853,
1e spent ISL .00O. 900; in 1854, eco, :
uO0. Duo; and il was not unril we found
ourselves in the sery agony Of the strug-
gle that We added some go per cant.
to our Usual outlsy. We may say. in
short, that the war cost Us for the twelve
months when It Was most expensive about
E30. 600 900. Of money. whereas the
civil War u costing the Americans 1t
jts very outset st least twice that sum.
Ap expenditure Vi f75.O0O. 900 repre-
seHss N exreFs Of about E6O, ,OOO. ZOO
% tho ordinary outlay Of ths Federal
GovsSpment. and shis is incurred when
che frst eampaign has but just opened.
sssd bsfore the real proportions Of the
var csn be supposed to Be developed.
This. however. though moA ominous
iaet. constitnses BY no means the most
striking feature Of the case before ~.
When We. IN this country, were spend
iag these tesss of nillions upon the war
IN band. We were alro taxing ourselves
IN proportion. We met sn outlay Of
x84 .U0O. .O0e BY taxes 70 the amount Of
k63. 600. 90 net. actually paid into the
Excbequcr sfter the costs of cnlsection had
been DEDUCTED. in The following year we
provided no less thsu 46S, 900, 900 70
saest q aggrsGete charge Of E7s. .O0O. 900
% that iseths tWo ycarr tu6sther We sd-
dsd eely some k20. .OO0. 600 to she nation.
alAebt. In Tact. the whole war. sanxui-