The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1861-09-16

s:ill further reduction ef revenue 1t now
only reached the figure of Sji5,000, 00U. while
the expenditure was Sf75.0o0 600, and the loan
SSa o0o, 600 In 1912 new taxes We're laid
on, and the revenue again $3.50, 000, 600,
while the expenditure swelle,l into $500. GoG. coz
aad the loans reached Sl3o. 800 0u0 In l8ii
the revenue was $3.50, 900 000, the expenditure
5000 000, 9oo, the loan SI750 600 In 1919.
the expenditure was 5000 0G0, 0O0, and the loan
SiS0, 000 900
Al the end Of this war, m spite of the
enormously increased taxation to which it
subjected the property Of the United King
doms~-a taxation which in twenty three
wears, ran up the revenue from SIS, 900 600 to
Si5o 900, t00-Englsnd stood indebted to her
creditors III the almost fabulous OF 1000,
o00 ,tAo, iround number-i The increase OF
taxation was never able TO keep pace with the
increase Of expenditure, aud the loan of one
year only brought on the loan of The next
After the war had continued ten or twelve
years the loans were, for Il time lighter, be
causc holders had become timid and the taxes
became heavier. But throughout the whole
period the lenders to the Government were SO
nearly All British subjects that ont Of the
whole public debt there were but $40 .000. coo
due to Foreigners. The great andholders were
The arisjocrats, who felt the greatest interest
in the success Of the war, and would have sac
rihced their estates to man 10 insure III
From them the principal part Of the money
came from them and the great capitalists,
who fell that failure WAS to them entire de
struction. They felt entire confidence in the
Government. They knew that its credit was
perfectly good, and that ii had al command a
sure means of raising the money to pay the
interest on this enormous debt. The property
upon which it could levy taxes for this pnr-
pose amounted in vaine TO TWENTY-FIVE tbou.
sand millions of dollars, exclusive of incomes,
which exceeded in value two thousand mil.
lions Of dollars, while the interest on the debt
but little exceeded 500 900, 900 Still the
people Of Great Britain had always been held
people that ever existed
When we look over this table in counexion
with the system OF loans proposed bv the Liz.
co.'s Government, We fail not 10 find food for
the amplcst reelection. While the British
Government inaugurated It's enormous loans
by borrowing twenty-five millions, LINCOLN.
al one dash. AZ Il first experiment. starts
with prospos;l for five hundred millions.
The largest English loan dill not ex-
coed Two hundred millions The largest
expenditure OF the British Government
prior t" 1872 never reached the sum which
LISC"L> proposes To borrow The English
loans were all from English subjects The
LINeuL> loan has been hawked abou; from
one country TO another. and has been kicked
out OF all The English loans were based
upon taxation to pay the interest, laid upon
twenty five thousand millions worth Of pro
perty. The Li>coLN loan is based upon no.
thing whatever.
From this table we may learn that when
Government begins 10 raise money for war
purposes by means of loans. it must continue
It or stop military operations altogether
v it'll n! its heavy taxes and enormous reye-
nue., England could never stop She RESENT
bed II boy who sezes hold of a COW tail rs
she is running down bill She would viii
lngly have lei go but She could not So must
II be with old ABE. Once in for it. he cannot
stop. He has no revenue but that derived
from customs. and thai wifi nor pay Tie ord
nary expenses Of Government. Ii he borrow
five hundred millions this year, he must Dor
row At least that sum next wear. II the war
should htSt six YEAR,, he will have borrowed
al least three thousand millions, Al ; per cent
VI here II the money to come from. that is 10
pay The interest on three thousand nillonsl