Indiana State sentinel. (Indianapolis, Ind.) 1861-1865, 1863-01-19
rhe NationarFi nance..

Mr.. SPAU.DISG, of New York, in a speech in
the House Of Representatives, on Monday last,
made remarkably clear and Ineligible exhiti-
ton ofthe condition Of our national finances. He
shows that, before the expiration Of the present
month. sum of one hundred and fifty millions
is needed for the immediate necessities Of the
army. The troops, enduring all the hardships of
war, have been unpaid for many months. Till
the LIST of July-a period of six months-over
s2,5OO.OOO will be required every day, Sundays
included. Till July. 1s64-a period Of eighteen
months-over eleven hundred millions Isl Ill.,
OOO.OOO) must be provided for in addition to the
proceeds OF customs and taxes
He estimates the debt reaching, at an early
day, two thousand millions-equal to half the
English debt. But at the end of the next two
years. or at the expiration of the present Presi-
dental term-before which the war is not likely
to be brought a clCse-the debt will amount to
four thousand millions. or fully as much as the
debt of Great Britain, with the interest one third
more.
The New York Herald, in commenting upon
this exhibit of the condition of our financial af-
fairs, remarks:
Here is the gist of the whole matter. An
enormous National debt is already incurred, and
it is fearfully increasing in magnitude; the coun-
try has been so flooded with Federal paper money
and have so far failed to accomplish
what was expected from them, that the currency
is now deprecated forty two per cent and il the
same condition of things continues the depreca
ton will soon amount TO seventy five per cent,
and n dollar bill will not be worth more than
| nua tor nd l. iunfn
rebellion will be successful and the Union lost,
after all the expenditures of blood and treasure to
crush the one and maintain the other
What is the cause of this 1t Is partly owing
to the laundering financial system of Chase and
/ Congress, but still more to 1.-The divisions at
| home, TO which Mr.. Spaulding reiers-to want
of a "closer unity of action" lack of earnest
ness" in the prosecution Of the war and a lack of
military discipline while. on the other hand.
/ 1.-THE desperate men" against whom we are fight
ing ''are in earnest, and will fight TO the DEATH"
| Nearly two years of concerted action, embit
tered by the most deadly conflict with the armed
power of this Government. has consolidated
their strength and Mr. Spaulding prOcams
that he has expectation that the rebellion will
| be crushed unless there is a more determined el-
fort IN the part OF the Northern States -
The question. therefore, arises, what has di
vided the North, causing want of earnestueSs and
want of military dscipnel And what at the
same time has consolidated" the South and
made it ''desperatel' Nothing but the Abolition
policy, which has demoralized the army and
caused it to fail, which has combined the South
as unit, aud nerved it TO deeds of arms never
surpassed in the history of the world. To be
successful, one whole system must be revolution
lied. Better to give up the struggle at once than
to continue il any longer upon such principles.
1t is only by a return the ideas promulgated in
the inaugural of Mr. Lincoln and in his call for
IS 900 men, as well as in the resolution OF Con-
gress which defined the objects Of the-war, that
unity of sentiment and unity of action can be
hoped for. OF ihst the unprecedented sacrifices Of
the country in blood ami treasure shall not have
been in vain.