New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1863-10-31
HOW WE CAN PAY FOE TIE WAR

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HOW WE CAN PAY FOE THE WAR.
When We contemplate the tremendous debt
which the present war is entaing upon this coun-
try we naturally turn TO the aurierous and metslli-
ferrous regions Of the Rocky Mountains and the Pa
cfc States for glimpse of the fields in which
must be garnered the wealth wherewith we are to
iquidate that Indebtedness. No person can read
Mr. Ruggless Report on the resources Of this conn
try recently laid before the international Statistical
Congress at Berlin, anayze the hast Report OF the
Commissioner of the General Land-Ofice without
being alive to the fact that vast mineral wealth
will alone be sufficient in brief space of time, to
nay the public debt TO the uttermost farthng. The
National Debt is stated to have been, at the COM
mencemcnt of the third year of the War, twelve
hundred millions Of dollars. AS this sum includes
many expenses which will notagain berequrcd to be
incurred il is fair TO presume that should we require
yet years of time longer TO enable us to crush The
Rebellion that amount viii barely be increased to
two thousand millions. For the present argument
we will, therefore, this latter sum as being
tie amount of the National Debt ut the close OF
the War and we will cndeavor to show that but a
small tax upon our mineral produce will be amply
sufficient to liquda,e the same by the beginning of
the next century.
For the sake of simplicity, we will appropriate
the Customs receipts to the exigencies OF the
Federal Government, including of course, the
maintenance of such standing army and navy as
NAV be required to be kept afoot and aiioat after
the return Of peace and there If no reason TO De-
cve but that the customs will in the future be able
70 bear the burden which they have heretofore
found no difficulty in carrying. We would also up
proprate the proceeds of the Internal Taxes to the
payIneu, Of the interest OH the National Debt. As
svming the latter TO be the sum named, and averag-
ing the interest at per cent the amount at first re-
quircd TO be received from this source would be
900 00O, 600 per annum, and il is estimated that
the present rates of duty will produce above
that amount. AS the principal is decreased in
amount. Congress will have the pleasant task OF
c-asng from the sta,uto-book one after another Of
our internal impos,s. commencing with those which
are most onorouS and press mos, heavily upon the
poor.
But how shall We pay of the principal' This
can be done by lcvying tax upon the produce Of
husbandman to CLEAN from II an abundant har
vest
The Commissioner Of the General Land-Ohice in
his official report Of the 29ih December, 1862, states
tina, 1.-THE yield OF the precious metals alone
Of this region will not fall below sI00,00o, 900
the present year. and it will augment with the in
crease Of population for centuries 10 come He
calculates that within ten years the annual pro-
duct Of these mines will reach 500 900 600 in the
precious metals, and in coal iron tin, lead, quick
silver and copper. half that SUM-" lie proposes 10
subject these minerals 10 aGOycrrmcnt tax ofcishi
per cent. and counts upon . revenue from this
source Of 900 per annum almost immedi-
atcly. and proportionatc incrc"s" in the future.
lie adds that with AZ amount Of labor relativci!
equal to ha, expended in California, applied to The
gold fields already known 10 exist outside Of that
State the production of this year, including that OF
California. would exceed 600 600 900. IL word
he SAWS: 1.-THE value Of these mines IS absolutely
ncalculab.e."
Persons who have made mining operations their
study for years and who are capable of forming al
estimate Of their progress, consider ihatan annually
increased production Of 10 per cent is under what
may be anticipated. That increase however, Is suf-
fcient for our calculations. Adopting tho Commits
sioners proposal Of leyying tax upon the produce
II will be- found that If retain II for fifteen years
at the rate he states Is per cent and then reduce II
in the next ten years 20 per cent, and in the io-
lowing decade TO per cent, a sufficient sum VIII
have been raised from such impost TO pay oil the
whole of the National Debt. This Is pviniy Illus
tra,ed in the following tabular statement, IN which
is given the estimated produce of the mines itr AL
NUN for IS year. aud the amount which can be OBJ
tanned from the same BY the imposition Of these
duties:
Estimated Jrodoc, Rate ~ Tsims'sd rfotofs
yatiI pr hnnnm 81 MIMI Duty - Dtll',