, 1862-11-11
Our National Finances.


In ar;icipat;un Of tie annual report of the |
trfasurJ eoon to be made, we are enabled 10 |
lay before our readers apQproxi,natcly, the |
CONDITION Of the Dz:ic5a1 financ:s mp to near |
'hc close OF the p'ts1st month: We may not |
give the exact d isures in eVtry1idese, but our
statement will be found to-: :be<xery nearly
accurate.
The public debt Of The Unite. States may
be divided in:o three clssses-Eha. contracted |
prior to tie loau Of $3.50 0G0 900 granted in |
july, 1861; the loan Of th&. dlre, aud those |
authorized by Congress at its l..t Session.
The smount of debts Of 1he tirst class will,
probably, reach about Sis 900 0D. Oi the
arcond class, the $3.50 600 000 loan, $50 0o0,-
con ie Made. up OF Z :-l0tns Of rsicn abnut |
*l322. .0C0, 900 baye heen iRsu.d: $50. 900 900 |
yer cents. due in 1851, and so Ua0, ,0G0 OF the
Gcn.and mites which we're made receivable for
du' = at the custom house. About one-ha1f
ot these are already Cancelled. and arc baiug
retired ut the rate II $300. 600 daily Their
places, however, are supplied BY what are
te1tnf the t'new issue" OF demaud mites.
Since the passage Of the act OF July, 1851,
the government has relied chiefly u2oa its
demand notss; upou the deposits made with
oi certificates OF Indebtedness, OF the latter
about SCG, or, 600 bare been issued: Ol the
"new !ssut:'' 81 treasury notes ah,ut $lo0. &c.,
CtO Err sl.eady 10 circulation. the depaE! N: mt
u @ 10" Pay ip:5 them ous at TUG rat. OF soap'oD
520s, slS, al 100 have been issued. TIE exact
s1nu1nt OF dvnnsits with The sub-treAsusers on
c.li, /, chnnt sC5, or, ,ooo The aggregate iu-
othsedness OF III department, cs15eq queatlS,
will fart nj, III t,,lluws:
1,*ht eon,.act.d pzior to Joly, 1s6l,. st1sc4nc4O
io.t;s hrasing 31G per cent tat - 131.ta0.noo0
b1has .ne seaEir M per cent Interest," oo I'M
| Ce.;inra:cr Of iudcbt.11.ss .......-- G5,vJ,uN
Dst.st:s with ;, The suo-treas"sy and ~ nm ~,
I'' a.u1y rotcs new fseac .--......... 1S1N1 n0o
| AHFftE1 EfGE. notes. I13SEbuN
The fve-,wlnty yeaz bon3s..... 1851, ,t10
!
Teal indt btedneas .....-. ----... $553 ,1co
This statement, We believe, is approximately
correct, taking the figures as they stood IN
tho ed lnet., and mnking the liasiEitis5 Of
government con- iderab;Y less thnu the cur
r.rt estlmAtc5. It should relieve all appre.
heEficn az TO any embarrassment TO be Caused
by our public debt, T1e interest on the tptat
amount, at six per cent, Is only Ss9, ~, ,266
But only S49 ,51l 100 draw interest, reducing
the charge nton the t'casury from this qusr-
ter to IN, ,HaG5. To meet this charge We
hass The 1svu s t. 09 oe :b s,sa va w,
sud the revenues t1cm the extraordinary
These sources we're designed to realize fully
ssa:G0. .C0D QUO annually We learn that so far
, ! they promise to prove producsiso tar osy Dad
! The estimate There can be no donbs Of
: their realizing an immense sum, and forming
asecure bssis not only tor the payment ut il
rert st accfuing on the public debt. r:ss for It's
rapid cx7ipguish.ne' upon the close OF the
var. Tie abundance Of money demonstrates
l the ability Of government 70 aoFroT to anJ
: rqn;tea amount. As previously argued oJ
e. s, 1na ra'ion finds no difficulty IN sustaining
1 The burdens Of the war, as 1t possesses il
abuc dtnce whatever is necessary TOR its prose
cu1i,n-ra.n. food and n,atc'l,ls, sud mnot
tions OF all kinds. So long as the people vii
dispose Of these for the obligations Q! goY
~ 1r7n1 90 n 1N Il
feared.
> In the present financial condition OF the na
t., const qu-ntly, all is well. The reo2!
Eaye 1T los. 4 jot Of :hsir confidence, no.
yIthetspt,rsg, the failure In the military opera
tiors ct TIE government. Theyieel That van
tbose '91s who N Sa-,. directed ataifs, NOT to an
weakness Of the can e, OF In thu means Of it
maiutensnre ana snare It. Confidence is uo
abated that the riaSt Sf1a men IN the right pla:
will at last appear. More than year ago !
WAS fe1t on all bands, that militar, suceesse
They have not come IN tue degree predicse
or expected; get it would be far e .sf=r for tht
government to borrow to day, than il WIS Z
year ago. We refer to this, to show thas It j:
always unsafe to underestimate the financial
strength Of a people. On the contrary, th:
of the nation far t1anEcendiDX Whatever VIA!
! claimed for it By It's most ardent advocates
I The natural resources Of this country are &C
! vast that no limit can be placed upon Its pro
t ducsiyeness under the stimulus Of great ne
3 cess3ty, or demand, especially so long as tht
q war Is not wsged upon northern soil Witt
: our financial strength uuabated, all otael
tbirgs will come in due time. The experiences
/, Ut der e1nilar circumstances, Of alt nAtioa
addicted to peace, has been: slmilsr to ou
. own. But the work Of preparation Is goin:
{ CD, while m3lttass talent is being developed
it SO that we1are really making vaaslY create
i r1cgress than il generally supposed Ia th
y rn.antime we arc consolidating oar poli%ic,
l. unity. gain!rg In confidence and in exper
i erce, which canrot fail, In the ond, to c3adas
to complete success.