The Evansville daily journal. [volume] (Evansville, Ia. [i.e. Ind.]) 1848-1862, 1862-02-04
The wealth ORthe United states-The
Tax for the War.

United SGaESS-I1E
Tax for the War.
Mr.. Spaulding, of New York, in his re-
cent speech in the House of Representatives, |
on the bill to authorize the issue of $780,
100000 of Treasury notes, introduced a
table showing the value of real and personal
estate in the Union, according to the census
of 1860. These statistics were expressly
procured by Mr. Spaulding from the Census
Bureau, and are now published for the frat
time. It appears from these returns, that
the value of real and personal estate, in this
country, has more than doubled during the
ten years from 1850 to 1860. At the form
er period the aggregate value was seven bill
lions one hundred and thirty-Gve millions
seven hundred and eighty thousand two
hundred and twenty eight $7,l35, $50, 229G
in the year 1860 the total stood sixteen bill
lions one hundred and sixty-one millions
two hundred and sixty-one thousand two
hundred and thirty-nine, (16,19l, 261, 239),
being an increase of So 025, AIS, oil, or over
nine billions-an increase of 125 per cent.
in the accumulated wealth of the country.
A billion is a thousand millions, and the
present value of the real and personal estate
| is therefore ooer sixteen thousand one hundred
and sixty millions.
The history of the world does not afford
another similar instance of such wonder
full increase in the wealth of nation.
1t could scarcely be believed, but for the
stubborn figures of the Census Bureau.
| With such an immense amount of wealth
pledged to the public creditor, the govern
ment may issue its bonds for the sustain
ment of the war. 1t is proposed to impose
an annual tax of $3.50, 100000 in addition
| to present receipts from customs. This
whole tax, large as it may seem, is only the
one hundred and seventh part of the val
ue of the resources upon which it is to be
levied, or considerably less than one per
cent.
If the war should continue to July lst,
1863 the estimated debt would be 81 ,20O,-
100000. If we were to pay the whole debt
in twenty years, it would only be 81 per
cent. per annum, on what we are worth.
But it will only be necessary to pay the in
terest and provide a sinking fund for the
gradual extinction of the debt. The interest
would be $72, 900, 900 and the amount
necessary for sinking fund would be $780,
0O,oO0-in all $l32,OOO,OOO. This is
about one-third the annual taxation OF
| Great Britain. These calculations are based
upon the superstition that the war is to
last eighteen months longer, and the ex-
penditnres to continue at the present rate.
This is the gloomiest view possible of the
war, and yet what is the burden compared
to the blessings to flow from the preserva-
ton Of the government.
But the war cannot last eighteen months
longer, nor can the expenditures of the gov
eminent be maintained at the present rate.
Our armies are supplied with outfits. Mil
lions have been spent for ships arms, &C.,
which will not have 10 be re-purchased,
and we believe most firmly that our armies
now in TIE field will put down the rebellion
\ before the coming autumn. There will be
no failure on the part of the people TO
sustain the credit of the government All
we want now is action, and we are con-
WINGED that the concerted movement for
which we have waited for weary months,
is near at hand, and is only postponed
until more prOpitious weather.
The Tory papers of the North daily call
the attention of the people to the deprecia-
ton of United States Stocks. The fact that
our securities are only ten cents below par
in the midst of the most gigantic rebellion
of modern times, is proof of the excellent
credit of our government. To substantiate
this, it is only necessary to look at the quo
tations of the stocks of other governments
in time of peace
Enghsn per cent.
rrenCu . 9 ''-'..''...............-67
huSSlau '.''......+..- %
austrian -''......-'-.s..-...t......... 66
United States Stocks sold before the war