Daily Democrat and news. [volume] (Davenport, Iowa) 1859-1864, 1862-12-02
the NATIONAL DEBT ...DlFFER.
ENCE or OPINION.

the NATIONAL DEBT ...DlFFER.
ENCE or OPINION.
A short time since, ia order to blind
the eyes of the public, and create false
Impressions ~ to tie true condition OF
the nstioos' finances, Secretary Chase
published . circular, setting forth tina,
the entire debt, everything counted,
would not, exceed, on the 27,h day OF
October last, the sum of S6s0,Ooo, 900.
Those who doubted this statement, were
at once denounced as rebel sympatbiz-
crs, Notwithstanding the last Congress,
ia addition TO the debt contracted up 70
that time, made fresh appropriations to
the enormous amount Ct nine hundred
millions. People have never been able
to see jest how this could all be, and
many there are Who went on doubling,
and have s,ill kept on doubling, and
questioning the truth Of MIR. Chasc's
statement, at the risk Of incarceration.
aud Of being called rebel sympathizers.
the New York Times attempted to
make the thing oil clear to the public
understanding, in the Preparation of the
following article:
RuMoHED AND REAL Cosr OF Tng
WAR.-'rhe letter Of Mr.. Chase, which
appeared recently in our columns, con-
filming. rs it tOee, the semiofficia
statement we publ he'd few days ago
rs to the amount OF our National Debt,
is Of no email interest ut the present
crisis. Many q loyal citizen will Re con-
soious Of glad sense Of relief at the as
surance, on the very highest authority,
that Notwithstanding all that rebel sy,"
pathisers at home or dbrood have SAID
to the injury OF the National credit, our
total debt on the It Of October was ~
more than 5000, 1000, 900, and that. as the
disbursements sluce that date, together
with al outstanding claims on The Treas
ury, amount TO G0,O00,O0O more, the
whole debt on the 9th Of October did
not exceed $6S0,00O,OO0.
But the actual war outlay has OF
course been mlch less than this sum
For It is well known that, prior to the
rebellion, there existed the old funded
debt Of $50 COG, 955. This amount is
included in the present debt, from which
it must be eliminated il We would get at
the amount which the war has consum-
ed. Besides this, a considerable agyre.
gate Of Treasury Notes were out before
the LIST Of March, 1861. These have
since been redeemed at u cost, according
to the latest fficial Staten, nts, of $780,
$4,000. Thus the portion of our deb,
vi ich existed before The war was some
thing over *s0,OOO,OOO. DeJucting thi.
sum, we hnd that the Government has
expended on the struggle against seces-
SION, about s60O,OOO,OOO. Moreover, as
the contest has now lasted twenty
months, the average monthly outlay has
been about $30,OoO,OOO, or about ST,
100000 day; while the present war
expenses OF the rebellion, according to
their own statements, are, as wa showed
IN a recent article, 10 less than slO,
100000 week.
All CANNON, Of course. Not a single
man Of sense or general observation in
the country pretends to believe any suct
stuff. Against this opinion of the
Times we put that Of its Metropolitan
contemporary, the Ere";ny Post, which
In the matter CT financial reputation and
sound sense in matters Of finance over
shadows both the Times and Secretary
Chase thrown in. The following was
given 10 the latter part Of last April:
1t 10 not likely, If the actual .fghting
acre to cease to moron, that We could
close the war for rss than al aggregate
cost Of ONE THOUSAND MILLIONS
How, then. shall we enter npon the mex,
fiscal wear! Annual interest on the
public debt, so 100000; ordinary OK
penses OF government heretofore, s7O,-
100000. For these two items, aud
these two only, our public servants are
providing.
They offer tax bill that VII yield,
they say, SlO0,0oo,OoO, and tanff OF
customs that may possibly be counted
on for S50,oOO,ooo. No prov sion W hat
ever Is made to meet the expenditures
next year Tor the support OF SO much OF
the army as We may still then require to
keep 10 service, although it is obvious
that, under any circumstances, our per-
-
much larger than it has been heretofore.
Nor is any provision made for the larger
permanent navy that we shall hereafter
keep sfoat. The ordinary permaueut
expenses OF this Government, in times
OF peace, cannot possibly be less hereaf
ter than Sl5o,Oo0,O00 per aunum, indie
pendent OF interest on the pubic debt.
With tho revenue now proposed by
Congress there would be q defcH OF
ncdfly the whoie amount Of interest on
the pubic debt some $4,000. O.
course, II the pr, sent state of war is to
continue into next year, 1t IS plain that
"e shall be running Gehin0,hand, ot a
1r'yhyM rate ut rate thu: must
speedily proce ruinous to the public cred
u, ard consequently to the nstionoi diq-
nifty and strength.
There it is. The Republican doctors
disagree seriously, but the people very
we'll know which OF the two 10 entitled
to confidence in calculations. What will
Republican fanatics do with the "rebel
sympath'zers" of the Post' In a day