Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1863-09-28

TOtal. 1,l97 .274. 366
But this frightfuI sum total does not include
all the liabilities of the Government. see in the
newspapers Of the day other items mentioned,
namely: u 5. certificates of Indebtedness; nelc
U. S.. certificates of Indebtedness; orders for Ger
titicates of Indebtedness: Quarter masters vouch-
ers. These and many other items constitute a
floating dsbt, most of which is not embraced in
above inIncial statement.
Some idea of the magnitude of the business of
settling lrmy paymasters' accounts may be in
feTred from the fact that over one hundred and
fifty clerks are employed upon them at the Office
of the Second Auditor; vet, with all this force,
there il a year and a halls accumulation Of &C
counts and claims in that Office.
II we add TO the above statement all the liza
bilities incurred for war purposes since the Goth
of June. and claims for damages, pensions. boun-
ties, &c, &c, we will not overstate the total liza
bilities of the United States at the present time at
two thousand millions of dollars.
Pennsylvania is about one tenth of the Union
"a it was" Her proportion of the national debt is,
therefore, two hundred millions of dollars. But
If we impOverish ami destroy the South, depopu-
late her cities, her towns and her plantations, the
proportion Of the debt to Pennsylvania will be in
creased fifty per cent; making her liabilities for
the var four hundred millions of dollars. The
expenses of the General Government, for all pur-
poses. at the present time exceed two millions OF
dollars per day; that is, at the rate of more than
seven hundred millions per annum. The internal
revenue tax now levied is estimated at one hun
dred and fifty millions of dollars. 1t Is very
doubtful whether that nmount will be collected;
but whether it is or not, these figures will show
what an immense increase every month and every
year of war will make to the above mentioned
enormous amount Of liabilities.
The debt is now represented by a mere promise
to pay, but it is payable in money. which the
- - H. L.
will increase our understanding OF the amount OF
the moaev l have named when we consider the
weight of those amounts in gold and silver The
debt is now, saw two thousand millions of dollars;
this in gold coin of the United States would
weigh three thousand eight hundred and seventy
FIVE tons. "a ton Of gold weighs about 1855
pounds To move this amount on an ordinary
road world require 1855 horses, OF 92l wa yons
with four horses. Silver weighs about fifteen
times as much as gold. Ii would therefore re
euire a greater force, In that proportion. to move
the above amount IL estimated in that metal.
How much these amounts would weigh in paper,
which has no intrinsic value. | have no means of
calculating.
The valuation Of all the property, real and
> personal. in Pennsylvania. as fixed by the Reve-
nue. Bctrd of 1863. is fge hundred and ninety
six millions of dollars. The ascertained aud
registered debt of the United States on the Goth
of June last. alone. without reference to other
debts and liabilities. Is nearly twice as great as
the whole value Of the assessed property of this
commonwealth If we include the estimated
debts before referred to, inc uding claims for
damages, &c, & we then have a debt more than
four times the value of the property Of I'll kinds
in Pennsylvania, as retained by the Assessors to
the County Commissioner
This comparison also win assist us to form
some adequate idea of the magnitude of the ma
tional debt.
Again. Boston In proportion to her population,
Is the richest citv in the United States. The to-
tai wealth Of that city, As recently valued by the
Assessors. Is three hundred and two millions Of
dollars The whole wealth of that city will not
pay the expenses Of the Government for much
more than one hundred days.