The Athens post. [volume] (Athens, Tenn.) 1848-1917, 1862-02-14
The Yankee Future.
[From the Riehmond Dlspaleh.

\
lous prosecution of this war. Basing on
remarks upon those Of the Cincinnati
Ehquher, we gave them debt Of 5000,
900, 900 10 start with, and calculated th,
interest at six per cent. In following thu
paper In question, we gave the Yankees
more credit than they are entitled to-
The money constituting the debt wal
borrowed al y per r.cent., not at G. and
the interest for one year amounts to S45,
000, 900. instead of sS6, 100000. As the
Yankees have no other mode Of raising
the wind than loans, it's fair to presume
that theywill borrow at least as much
each succeeding year of the expected ten
years war as they borrowed this year
that is, 100000, 900. The probability
nay, the certainty, is that they will in
crease their loans every year; but we will
let them stand as they are and at the
same rate, although there is certainty
equally palpable that the rate, too, will
rise. The page win be black enough af.
ter all the expunging which it is possible
to allow. Let us see how much money
the Yankees will have paid at the end Of
the anticinated ten years war, when they
shall have been saddied with debt ex-
ceeding five thousand millions Of dollars,
bearing an interest Of at least u per cent.
Their debt the first year will be $780,
100000. The interest thereon will be
s45,0O0,000. This interest they will have
to pay, unless they mean to break down
the credit of their Government entirely
by reputation, and they must be taxed
to pay it. The second year they will be
taxed to pay the interest OF an addition
al S5O0,000,000. That additional interest
at u per cent. amounts TO S37, 100000,
and, being added to the interest Of the
former year, (s45, 100000, the whole sum
is represented by the figures $50, 100000.
The third year an additional S37, 500, 900
will be added, making the taxes 10 be
paid Sl20, 100000. The fourth year they
will be adding the interest as above)
Sl57, 100000. Adding the interest of
the fresh loan each succeeding year, the
fifth year gives us Sl95, 5000; the sixth,
S232, 100000; the seventh, S270,000, 900;
the eighth, S307, 900, 900; the ninth $685.
100000; and the tenth, $3S2, SEQ, ,000.-
These enormous sums the Yankees will
have to pay in the shape Of taxes. At
the end of ten years they will have paid
50, ,097 100000 for interest on the public
debt. The Cincinnati Enquirer estimates
the revenue from customs at SIC, 100000
per annum, We are confident now that
the Southern trade is gone forever, 1t will
never reach more than half that figure.
But we allow it all. In ten years this
would make sum of $3.50, 100000.
Take this sum from S2,097 100000, and
balance is left of Sl,737, 100000 to be
raised by other means, and there are
none other save direct taxation, so far as
we can discover. After paying all this
money for the interest on the public debt,
that debt at the end of ten years will re-
main intact, for the exigencies of the
government will not admit of a sinking
fund 1t will reach the figure of SIS, l00,-
100000 at "a per cent. When the rate
1f interest is taken into consideration, it
will vastly exceed the public debt Of
1reat Britain at the end of the French
vars. The interest, for which provision
will have to oe made every year, will be
s3S2,000, 900, exclusive of the sum neces
,ary to carry ON the Government. The
argest sum ever paid by Great Britain
or interest on the public debt, we have
een, was but S2l0,000,000. To have call
ID for sum in tho shape of interest
at 5 per cent, to $4,000, 900,
he British debt must have amounted to
S7,774,000, 900, or about Gl 100000 ster
ing. 1t fell short Of that figure, even
when G2000O0,0OO of it bore an interest
If and 4 per cent, by f400 100000 |
terling and upwards.
From the above speculations, which we
believe to fall short of the mark, some
dea may be formed Of the reckless folly |
With which the Yankee Government is
,lunging into difficulties such as no Gov
,rnment ever involved itself in from the
oundation Of the world. AT the end Of
en- wears, if the war continue, the Yam
zee nation will be the most heavily taxed
lation that ever existed. In face of the
rightful prospect opening before him,
he Yankee President consoles his faith.
ul lieges by telling them that the debt
hey will have to bear will not DO larger in
to their ability to pay thar the
ebt of Great Britain is in proportion 10
he capacity of the British people for sus-
aiming il. If there were the least shad-
W. of truth in this statement, ii could af-
ord bu. poor comfort TO the victims Of
lis financial experiments. Itwould fore
hadow, for all time TO come, pauperism,
Misery, crime, and degradation, such as
,e had hoped would never be witnessed in
he New World, for at least five hundred
cars 10 come. 1t would indicate starry.
4 operatives, overworked and ill-led me-
harics, ragged agriculturists, riots in the
tiles, discomfort in the country, wars be-
ween employers and employees, burnt
murdered capitalists, an
rchy distress, and despair throughout
he nation. 1t would foreshadow the APP
roach of an era distinguished by the es.
ablishment Of enormous poor rates and
resh taxes 10 support them. All these
hings have been in England, and in ali
uman probability will be again. And to +
he probability Of their existing in Yam
eedom, Mr.. Lincoln alludes with the
lost philosophic calmness. and tells his
eople they can carry on this war IL they
reduce themselves TO the con-
I. III H.. - l...l.