Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1862-03-21
From the Springfield Republican.
OUR NATIONAL WEALTH AND RE-
SnIfRHES


The abundance Of troops furnished and the
readiness to expcnd money by the loyal States,
for putting down the rebellion, have never
been paraleled on so large a scale in the
worlds history. Switzerland and Scotland
have perhaps shown an equally devoted pat
riotism against foreign foes, and thus pre-
served their free institutions, as we shall ours.
Tho American people have volunteered faster
than their government could put them in the
field, and they have clamored for taxes to be
levied on their entire resources, the sooner
the better
The public debt which we are so rapidly in
curing, in consequence Of the neglect Of
proper taxation last summer, bears much
smaller ratio to the whole wealth and re-
sources Of the country than is generally sup
posed. The public debt July lst 1862, ac-
cording to Secretary Chase's estimate, will
be less than 81 900 600 900, including fund
ed and floating claims, demand notes, etc. Of
every sort. This does not amount to one seven
teonth part of the real and personal property
Of the country, as returned under the census
1860. II the rebellion should be speedily
crushed. as now appears probable, sum less
than one-tenth Of the increase or surplus prof
its of American property from 1850 to 1860
will cover the whole cost of the war Every
thing necessary to eat, drink and wear, and
quite as many Injuries as are beneficial, can
be produced within our own vast boundaries,
and the profits Of farming, mining, fishing,
manufacturing and transportation can be en-
Joyed by our own citizens. No nation under
the sun can be industrially so sufficient unto
itsollas the United States Of America.
Let the authority Of the Federal Govern
mont b my fc-suablshed, the Union again
become power on the earth, our old peace
and prosperity revive and only q small frac-
ton of the increased value Of American prop
erty during the next ten years, especially
down in Dixie under the thrifty management
Of Yankee soldiers who will settle in that
sunny cline, will be required to wipe out
the entire national debt The value of the
agricultural and manufactured products Of the
Union is estimated in round numbers at 81,
100000 900 per annum. The whole national
debt incurred and to be incurred by the war,
will probably not amount to per cent. of
the value Of these products for ten years.
No one proposes or expects that our great
debt will be paid off in less than twice ten
years. 1t is so nominated in most of the
United States bonds now being negotiated
And it is perfectly fair to make posterity pay
for a large share Of the blessings they are to
gain through the bloody struggles and sacri.
fees Of the men to-day. Our revolutionary
fathers burdened the country with heavy
debt in 1905 but the Federal Union was
such prsftable,piece Of new macninery-so
to speak--that the incumberance was soon
cleared of with the greatest ease. A fair
field for enterprise, Tor unrestricted trade be-
tween the various States, and general socun-
ty Of property, are worth almost any price
The Union brought us all these Blooms 20
years ago and it will repeat them, at the
close of the existing war, greatly multiplied
and strengthened by the many mechanical
appliances of which our ancestors were desu-
tute. Looked at it merely as pecuniary spec
uation, this war for keeping Up one perma-
nent, undivided and all powerful nationality
over the territory of the United States, will
prove the grandest and most remuneratiye
undertaking of this speculative age.
BY the census Of 1860, the true value of
the real and personal estate of the United
States was estimated at Sl7,OS8. All, 63O, an
increase Of 80 ssh 2Sl ,553, or 40 ler cent.
as compared with the census of 1850. The
following table exhibits the reported wealth
of lha resDpctlve States