The Lansing state Republican. [volume] (Lansing, Mich.) 1855-1874, 1863-01-07
Ehr Public Debt.

It Is almost impossible for the financial Of
hcrrs OF the Government 10 make anvtbino
more than an approximate estimate of the
a count OF the public debt. The unfinished
I contracts upon which large sums are dun. tn.
amount due the army the aggrrgat. of the out
: andlng qnartermaster-' and comm 'ssarjes' Ger.
l iihcate~. ete cannot be accurately know. Rnt
the approximation is near enough for all le,i.-
latiFe purposes Mr.. Chase in his mastcrly
report. for the Information of Congress ~
presses the opinion ihat he debt of the United
states at the end of the fiscal year. ON the sob
June mkt. Viii Dee about one thousand one
hundred and twenty-five mill Ons. two hundred
ana ninety-seven thousand four hundred and
three lSLl22.297 .403) dollars. He saws also
that the estimates of the different departmepts
are equal to two millions OF dollars "A day. for
each DAY OF the year. including SUNDAYS and
mondays nn this basis, the debt on the Both
'nne. LN64-ei-hteen months hencc-wonll b..
seventeen hundred and forty-fve million.
Q.T45 O0O.090l of dollars. This. upon tbe sun-
position mat the present force Of 500 200 men
Is Kept IN the field and that the Increase of tb..
navy Keeps pace with the growth Of the wear
past.
These figures look formidable. Indeed they
are 80; bar when 40 remember that the aver
ag' rate o' ni"rcs; uoN paid on the accumulat-
ed debt Is bal a shade over four and a halfDar
cent. and that the expected receipts from the
Internal revenue viii not fall short of TWO
hundred millions per annum. and that large
sums VIII be derived from customs and public
iahus. we need have no apprehensi0ns for the
slapiiity Of the public credlt-nO fear that tba
debt viii no. be finally paid of. A.sun;Dg
that the estimates until June 1861 ar, correct
the annual interest upOn that sum would h.
seVenIy-elgat aud half millions at the rate
we nave named. This Is au annual charge that
tne country can well endure. Add to il N
eq lal sun for current expenses OF the Govern
ment. ald the internal reycrua ,vl.ill 7is,h.r-.
both. and leave. IN addition 10 customs r,cefnfs
ana revenue from all other sources. = lar.,e
surplus 10 oe applied. 10y way of sinking fund
% tne Liquidation OF the prime pal Il Is IN
u'u'teaiH True, that. In spite of the drain upon
".A,'h ana population by the var. the resources
OF tae country are "a " Increasing: and that
n We can keep clea- OF foreign l.eatio-s
: rous enough 70 destroy our foreign commerce.
we snail. next year be better able TO carry on b
eue1siFe operations than We were when b0stiIi- I
Ties commenced. We make no account of the I
react tonary movements Of the so-caiie,i Demo /
cratic party. nor of is threats 70 throw, ern.
oarraSsmenis n the way OF the progress # our +
arms. because We assume that there Is virtue
enough left in the American people - m,
down and punish All such treasOnahle eD5aavo- /
-O St0Np lOI WHICH tle Government con f
tends. Is worthy Of the enormous outlav ~ /
blood and treasure which i The irer-rsiIs 4
necessity Of war. This rebellion suruorn-o5 +
and the Republic assumes its well earned nlsea
a. the head Of all the nations the earth A
united and free people. having under their
control The better part of hemisphere. GOV
erned hy Just and equal laws superior in re-
sources for attack and deferce. in wealth. in
patriotic zeal. tc all nations now in existence
OF mat have gone before. we shall be II once
ine Judge and di=poSer OF kings and KINGDOMS
ana me arhter Of the worlds fate Who. for
me .t 7eAi zAiion Of such a prophecy will ieyret
'''7 ice OF To ay.-Chicsgo Tri5une
s8-l' IS said that cOante,feis so cent post.