Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1863-05-08
NATIONAL WEALTH.

NATIONAL WEALTH.
We are not at all surprised at the di,.
cordant opinions as to the assertion Of
MIR. Carey, that the loyal States can aL
ford to spend one thousand millions a year,
just so long as the rebels choose 10
fight We regarded it as extravagant; aud
so it is most certainly in the way in which
one Of our correspondents views it, and even
the other was forced to credit much to the
value Of the service purchased at such a cost
the perpetuity and future peace aud ptos-
pcrty of the nation. But there is another
view still Where is the money which has
been expended in thig war Has it gone
abroad No for our Importation Of foreign
goods do not exceed the amount usual in
time Of peace. Has the money been lost?
No; certainly very little Of It. Fire or wa
ter may have destroyed few treasury notes
or green-backs; and that is precisely so
much saved to the government. Where, then.
is the money! It is in the country still it
is so much added to the money capital it is
invested, much Of it--some in houses and
!
much Of it in national securities. Take YER
mont about which one Of our correspondents
80 quite luqubrious j. she any poorer foT
the war expenditure; We thinK .y, True
It is that the state has incurred an immense
debt for the seven dollars per month extra
pay to the soldiers and true il is that her
people must pay large tax. But is that debt
and tax loss to the state--a deduction from
its capital We have not tho means at hand
for an accurate answer 10 the question; but
our guess is that the amount ofour seven dol
lars a month pay retained at home the amount
Of government pay remdsd home by the sol
diers and the amount Paid to the state by the
United States for horses and other army sup
plies, will, when added together prove not
only that Vermont his lost nothing by the
war, but is absolutely richer for 1t. OF course
we speak only o. the money, and not Of the
loss Of brave and good men. or the gain Of
glory for patriotic deeds. We speak, too, Of
the wealth Of the state as represented by The
property OF its citizens, and not Of the state
government The government has indeed
made a debt, but me people have pocke,ed the
/ money for much larger amount. But Mr.
Careys view, are broader than this He
looks 10 he active and pr9fiabis pe Of he
. immense capital which the war is producing
{ through treasury notes and bonds. It
will be invested so as TO be productive Of
more capital thus adding capital to capital
q thus making the war source OF money
capital now, which ia all future time is To
i accumulate by Profitable use Especially be
looks to the use OF this cupital in agriculture.
mines and manufactures, in extended COM
merce also, when peace shalt come With
more capital, there will be- more work aud
. with both, there will be more wealth In
this way Of looking at the matter, the state
ment OF Mr. Carey ia not so extfayagsni as
We may think 1t : and possibly il may no, be
Z extravagant at all in the final result Ii may
may be, the people of the country will in tho
: end be the richer for it. Even now thcre
. are signs Of largo addition TO the productive
g power Of the country, thr ugh emigranJs from
Europc--to compensate, IN part, at least, for
the immense number ol mon who have ich
! shop and farm for the battlefield Emigra-
ton will doubtless more than make up the
absolute loss Of men 10y the war, SO that at
the end Of the war VIC shall not only have a
vastly increased money capital. but an in-
crease Of men to labor 10 whatever fields that
b capital may be applied to- The future is