Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1862-12-23
The Public debt.


1t is almost impossible for the financial.
Officers OF the government To make any
thing more than al appr, inmate estimate
Of the amount of tile public debt. The un
finished contracts Upon which large sums
are due, the amount due the army, the ag-
gfegate OF outstanding quaiiefmasters' and
commissatie's certificates. etc, cannot lie ac.
curate4y known B4it the approximation is
near enough rail- le4islstiselnrposeS. Mr..
Chase IN Ais mastery rel9rt,to The inform
alton OF Congress, EXPRESSES the opinion
thai the ,lebt Of the u. S, at the end of
the fiscal year, on The 30th 81 June next,
will he about one thousand one hundred
and twenty two millions. two hundred and
nintN seven thousand, four hundred and
three ($1,122,297, 4o3l dolls. He SAYS also
that the estimates Of the different depart
ments are equal 10 two millions Of lolars a
day, for each day u the Of the year iacll-
ding Sundays and Aolidays. On this basis
the debt on the 3OtA Of jane. 1864 yi.h-
teen n'0nths hence-woula he seventeen
hundred and fony.f@ye millions (Sl,745,
0oo,0e0) Of dollars. This, upon the sup
POSITION that the present force Of 100000
men IS kept in the field, and that tbs In
crease oflhe navy keeps pace with the
g with of the year past.
These figures loog formidable. Indeed
they are So; but when We remember that
the average rate Of interest now paid on
the accumulated deIl, is hut shade over
four and a half per gent, and that the ex-
pected receipts FROM The internal revenue
viii not fall short of.two hundred millions
per annum, ana That large sums VIII be
derived from custon1s and put lie lands. We
need have no apprehension Tor the stabili
~ OF the public creelt-no fear that the
debt will not be finally pard off, ASsuln-
ing that the estimates until jane 1864. are
corfecf. the annual Interest upon that sum
would be seventy-el9ht and half millions,
at the rate we have named. Til, il an
annual cnaree that she Country can well
endure. Add 10 itan equal sum for cur
rent expenses Of the Government and the
internal revenue wotlld discharge both, and
leave, in addition 10 customs receipts anil
tNN CiihC iiVtis al OlEt cOQtC 60 ~ ltI0F sur
Plus to be applied. by way Of sinking fluid.
in the liquidation of the principal. II is
undoubtedly true, lhat. IN spite Of the drain
upon wealth and population by the var,
the resources Of I country are daily in
crea'ing; and chat. if we can keep clear Of
foreign complications serious enough To
destroy our foreign comm-ice, We shah.
next year, be bettert.le to carry on offensive
operations, shan We Were when hostiliirs
commenced. We make no account of the
reactonary mos em5nts Of the so-caleI
Democratic patty, nor Of its threats To
throw on5arras>meuts in the way Of tie
progress of our arms, because We assume
that there is virtue enough left in the
American people 70 pnt down ;ld punish
all such treasonalle On eayoI.
The take for which the Government
is worthy Of the enormous out
lay Of blood and Treasure which is the in-
e,itable necessity Of war. This rebellion
surnounted, aud tbs Republic assumes it,
well earned place 1T The liea Of all tn
nations OF the earth. An u.itvd ~ free
people, ha,ipg under THEN control tho bet
ter part Of II hemisphere. governed BY just
and equal Jaws, superior IN resources Tor
attacl, and defence, il wealth, il patriotic
zeal, to all nations in existence or that have
gone before. We shall be ut once the judge
AID disposer Of kings. and kingdoms, AMI
he arbiter Of The world's fate. Who. for
The realization of sucll A pro hecy, will re-
gret the sa rifices % today Chicago
Tribune.