Fremont journal. [volume] (Fremont, Sandusky County [Ohio]) 1853-1866, 1862-11-07
Natloaal FInaucc.-Tnporta,it statcnrcn

National Flnauees-InpOrtau Statement
The leading article in the circular Of Messrs
Samuel Hallett & Co. for the last steamees is OF
the National Finances. Itcontains facts of groai
importance at this crisis, and their figures can be
relied upon as correct:
In anticipation of the annual report of the
Treasury, soon to be made, we are enabled to lay
beiare our readers approximately, the condition
Of the national hnaneas up to near the close oi
the present month. We may not give the exact
figures in every case, but our statement viii be
found to be very nearly accurate.
The public debt Of the United States may be
divided into three classes-that contracted prior
to the ioanof $250.000000 granted in July, 1861;
the loan Of that date, and those authorized by
Congress at its last session.
The amount of debts ofthe first class will prob
ably, reach about SI15,000000. OF the second
class, the $250,000O00 loan, $3.50, ,000000is made
up Of the 3-10ths, of which about $139,000,O O0t
have been issued; ;s50O00,000 6 per cents due in
1861, and S50,000,OU0 of the demand notes, which
were made receivable for dues at the Custom
House. About one halfofthese are already can
celed, and are being retired at the rate of $780,
600 daily. Their places, however, are supplied
by what are termed the "nsg issue of demand
notes.
Since the passage Of the act of July, 1861, the
Government has relied chiefly upon its demand
notes. upon the deposits made with several Of
the sub Treasurers, and by the issue of certif-
Gates of Indebtedness. OF the latter about $66,-
100000 have been issued. OF the new issue"
of treasury notes about $l80,000000 are already
in circulation. The Department is now paying
them out at the rate of $6o0000 daily.
OF the class of bonds known as the 5-20s
$16,57l 100 have been issued. The exact am
cunt Of deposits with the sub -Treasurers on CALL
is about $65,000,000. The aggregate indebted
ness Of the Department, consequently, will foot
up as follows:
Debt contracted prior to July 1861 Sis 900 coo
Bonds bearing $40 per cent. interest @ 49, 600
Bonds bearing Q 10 per cent interest paya- a.l
cer,iacates as of Indebtedness, SS co ,CSO
Deposts with the sub Treasury, and payable
on call o5.O0O.OOt
Treasury Notes, new $50 900 Coz
Custom House Notes ACKNOWLEDGEMENTS 24,000 00l
The Five twenty year bonds ---.----- 1s,571, ,IOt
Total indebtedness S653, 81 100
This statement we believe is approx mately
correct, taking the figures as they stood on the
22d Oct, and making the liabilities of Govern
rncnt considerably less than the current esti-
mates 1t should relieve all apprehension as to
any embarrassment to be caused by our public
debt. The interest on the total amount at per
cent is only S39,2i4,266. But only $40 571, 100
draw interest reducing the charge upon the
treasury from this quarter, to $26,974,266. To
meet this charge We have the revenue from Gus
toms, which will probably equal $60000,000 the
present year, and the revenues from the extraor-
binary sources recently provided.
These sources were designed to realize fully
$500, 100000 annually. We learn that so far
they promise TO prove productive far beyond the
estimate. There can be no doubt of their real
izing an immense sum, and forming secure ba-
sis not only for the payment of interest accruins
on the public debt, but for its rapid extinguish.
Al, ~. ,f4 st,. l,,,,A
ance OF money demonstrates the ability Of Gov
ernment to borrow to any required amount
As previously argued by US, the nation finds NJ
difficulty in sustaining the burdens of the war
as il possesses in abundance whatever is ncces-
sary for its prosecuton-men, food, and materi
ais and mentions of all kinds So long as the
people win dispose Of these for the obligations o
Government no financial embarrassment neec
be feared
In the present financial condition Of the nation
consequently, all is well. The people have moi
lost a jot Of their confidence, Notwithstanding
the failures in the military operations Of the
Government They feel that want of success
has been due to ine0fnpeteney in those who have
directed affairs, not TO any weakness in the cause
or the means of its maintenance and support
Confidence is undated that the right men IN tbs
right place will al last appear. More than yea
ago il was felt on all hands that military success
SEES were essential to the negotiation of loans. :
They have not come in the degree predicted OF
expected yet it would be far easier for the Gov
erRmeptto borrow to-day, than it was a year ago.
We refer to this TO show that 1t is always unsafe
to under estimate the financial strength of 9
people. u m sr
+ On the contrary, the war will demonstrate Z
strength on the part of the nation far transcend
ing whatever was claimed for it by its most ar
dent advocates, The natural resources OF thu
eOnntrV are e0 vast that no limit can be Dlacef