The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1862-01-24
The Northern War Debt.

The financial condition of the North
remarkable features ever witnessed in pub
lie indebtedness The amount OF debt
already incurred, inciu&ing that which eX-
lated before the war began, is at least seven
hundred ano fifty millions of dollars. There
are six hundred thousand men under arms,
and the cost per man of foot soldiers in time
of peace has for many years been thousand
dollars II would not be extravagant to place
the cost at this tune, in the midst of war, for
infantry, cavalry, and artillery, at fifteen
hundred dollars per annum. The peace esti-
mate for single year at sea is sixty thousand
dollars gum for single gun on land, four
Thousand dollars. The cost Of cavalry
charger, including original price aud the keep,
under the high prices OF war, cannot be less
on the average than five hundred dollars a
year; for the average duration Of army horses
in actual service is less than twelve months.
1t is therefore reasonable estimate to put
the ocst per man in the Northern army at ff-
teen hundred dollars year, including all
branches of the service, and counting in the
whole naval force az part of the round six
hundred thousand men under arms in pay of
the Washington Governments. This would
bring the aggregate cost per ennum of the
war establishment of the North to nine hun
dred millions of dollars and we have no doubt
that when all the settlements come to be
finally made in the years succeeding the war,
the expenditures will be found to have reached
that annual sum-
Hostilitiss have gone on to such length
that it will be impossible to. bring peace about
n any time short Of a year from now, even if
vigorous efforts TO that end were at once set
on foot. And even If peace could be con-
cuded within that period, it would require a
long time after It's consumInation to disband
the troops not intended to be retained in the
permanent military service. In fact, the war
scale of expenditures would continue neces-
sarily for several months after the conclusion
Of peace. IL would be, therefore, quite in
vain 10 calculate on a cessation Of war ex-
penditures within less than eighteen months
from this period; and the Federal debt, now
seven hundred and fly millions, will have
been swollen to two thousand millions.
The British people enjoy the reputation
among their fellow Inen OF being the most
heavily taxed population in the world. They
number in the three kingdoms and the colo
MES hard on to forty millions of souls, besides
the dense native population of several of the
countries subject 10 the British Crown. The
British debt cbargeab!e upon this forty mil
lions Of people is about four thousand five
hundred millions Of dollars bearing interest
at the rate Of three per cent. per anuum
The Northern Union numbers TWENTY-FIVE
millions Of people, and the debt to which they
are already committed and cannot now es.
cape, though not yet all actually incurred, is
at least two thousand millions of dollars,
bearing interest at the rate nominally of six
per cent per annum as to part and seven
ana oViooths. per cent as to the resi-
due. IT, as will soon be the case, they be
compelled TO sell their bonds at less than par
prices-say eighty five cents in the dollar, or
less-7khen the per censagc Of interest actually
paid, on the amount realized would be propor-
ticnaily enhanced In fact, 1t would be a
moderate estimate to put the rate of interest
on the Northern debt at isven per cent Tbs
interest on two thousand millions Of debt a,
seven per cent is greater than that on forty
five hundred millions Of debt ut three pei
cert and the Yankees arc already commit
ted to public debt requiring as heavy taxa
ton as that Of Great Britain. To meet this
taxation, they bare but twenty two millions Of
population, while tho British empire has forty
miliions. The wealth Of Great Britain is
proyerbiaj. Where the North boasts their
thoassnds, tho English can boast their tens
phd hundreds Of thousands. TIE British peo.