Rutland weekly herald. [volume] (Rutland, Vt.) 1859-1877, 1863-01-08

Financial Resources North and South.
We condense from an article in the New
York Post, the following interesting; statements
in relation to Northern and Southern war ex-
penditures, and their respective resources
The occasion Of the Posts article is the effort
of the rebel authorities to raise money in Eng
land, by the sale Of their eight per cent. stocks.
To pave the way to these negotiations, the Sc
cession press in England has been engaged in
depreciating the U. s. stocks, and attempting
to allure purchasers for the so-called Confede-
rate securities. Malicious misrepresentation
have been made here also, upon this subject
by the faction engaged in the patriotic work Of
opposing the Government in its efforts to crush
the rebellion.
The report of the Secretary of the Treasury
shows that on the LIST Of December, the public
dsbt was $6Ss, 100000. Of this, $50 ooo.-
600 were incurred previous to the rebellion
and should be deducted. The expenses for
December, at the rate Of million and q quar-
ter day, would amount to about 500 600, 600
Consequently, on New Years day, the expen-
diture for the war had reached, Se47 600 600
The papers laid before the Congress At Rich
mond show that tho rebel outlay to the Ia, of
August last was $347 ,272,958. and that The
additional estimates to The LIST Of January wsrs
1908 $50 ,487. Now supposing that these AZ.
Inmates were not exceeded, which tbav nust
have been. from the effects OF the block sda
and the trpled prices of everything IN the
r1l,n ruc Ispv1 expenditure uxu rcxrf,z,i S rn
til of S556, 823, AS on the LIST Of January
| Thus we see that, although the Confaderates
have Kept on foot much smaller army thar
ourselves and have not had to incur the vast
expense incident to the creation Of an iorn clad
! navy, they have contrlved to spend more than
| $3.50, 100000, besides availing themselves of
| The vast amounts of munitions of war of which
at the outset of the struggle, they plundered
the national government.
| A statement Of the expenditure of England
in the Crimean war, shows very economical
management on the part of our Government
comparatively, in the prosecution of this war.
Now as to the resources. The vast opulence
and recuperative power of this country are
seen from single fact The loyal States in
1860 possessed real and personal property to
| the value of Sl2,035 900 900: the amount in
| 1850 was only SIS, ITO 900 OOO-thus the in
crease in ten years was 1886, OOO, 900, being
an addition Of wealth of about nine per cent
per annum, after paying all the expenses of
subsistence for the people. Now, as our pro-
ductive industry has not been checked during
the past two years, but has rather been en-
| larged and stimulated, We should now be adding
at least ST. ,05O,00O,0O0 year to our surplus
wealth were we not at war. If, therefore, we
deduct from this annual surplus of ST. ,05O, OOO,-
900 the cost of the war, which, as we have
seen, is S6O8, 100000 for twenty -one months
or S345 100000 year, we shall find that the
nation is not only paying the expenses of the
war out of its annual profits, but is amassing
wealth besides. No less than 5000, 00O,OOO
are yearly added to that accumulated capital,
while every year renders more available and
productive the labor, enterprise and ingenuity
| of our citizens.
| A similar inquiry into the resources of the
rebel states will show that in 1860 the aggre-
gate real and personal estate amounted to 3d.,
l24.OOO,OOO, As in 1850 the amount was
81, 1876 100000, the increase in ten years was
SO, 22S 100000, or about eight per cent. per
annum. Now the yearly surplus at this rate
would be about S320,OO0,OO0, sum equal to
that which the rebels have spent on the var
Thus it is clear that the yearly profits Of the
South, if their industry had been as free as
ours from present arrangement, would barely
have enabled them to pay their expenses thus
far, without encroaching on their capital. But
their commerce, their agriculture and their
trade have been ruined. All available resour-
ces consequently must soon be exhausted
Their expenses, according to official estimates,
are now over two millions a day. Some FIVE
hundred millions of irredeemable paper have
been issued, and ii would be suicidal to emit
more. Gold is worth thrice its nominal value
in paper. Flour, clothing, all the necessaries
of life are at unheard-of prices Unless loans
from abroad can be obtained to very consid-
cradle amount, it is not easy to see how the
unequal contest can be much longer sustained.
For war, after all, is to no small extent CUES
ton of finance, and the largest purse seldom
fail to Vim the fnal victory.