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

In country of rapid growth and constant
expansion, like the United States, the cOndi-
| tions of national debt are far different from
what they are in the % finished y nations ofthe
old world. To US, that which would seem an
uncomfortable financial burden may, BY mere
progress of events, disappear almost without
! effort. Such was the case with the debt re-
naming to the General Government at the
close of the Revolutionary War, and such was
again the case at the close of the war Of 1917.
In both these cases the danger of coming under
grievous financial burdens was far greater than
it is now, SO far as the judgment of a careful
! observer could then decide. The country was
too new to be safe. All its circumstances, IN
trade, in Government, and in popular stability,
were open to doubt, and naturally suggested
| caution. Now no man has serious doubts as
| to the future stability of the Government This
| very war, terrible as it is IN many respects,
still does but the more positively assure Us that
the enormous aggregation of interests repre-
sented IN the loyal tates is too strong for any
| possible combination of enemies. Ii Is 100
strong sfor misfortune and weakness among
ourselves, also. Out OF the worst compilation
the events of the year have brought us, We are
rsng full OF prosperity on every hand ana
the giant strength of the loyal cities and 0yai
States was never more conspicuous thaDH IS
now.
In 1890, the first year of the determiBfon
of the debt and population of the United Safes,
and very soon after the close of the feolll7
tionary war; the debt was S75, 1854 ING
population was 3,929,S27.
The proportion of the debt to the populaon5
exclusive Of slaves, who numbered 69-S91,
was 1913 40 each. Inclusive of slave the
proportion was SIS 95.
In 1875, at the close of the war of 18l The
national debt was Sl27 ,834,934. TasMns
mean between the aggregate of populatol re-
ported for 1910 and 1920, as fair S ateoent
of the population at this time, we havesS,s ,s39.-
600 as the number, of whom ,364, A we're
slaves. The proportion of the debt per capita
would therefore be, for the free popuLt;on
alone, $1S; While for the total population i
would be SIG OF.
In 1860, the total population was 34.45
O80, of whom 1868, 760 were slaves. Man.
no allowance for increase of population an
taking the present debt at 5000, 1000, 900 aIu .ba
proportion of debt per capita for the free M ane
ulation becomes S2l 80. The proportio Vp- ,p-
the whole population, slaves included 'oi y
$40 IL only The relative proportions Al az
other periods, therefore, compare numeric,n,,
ds lOiIOWo.
Free Population. Total PopuI.,;.
1870 1923 40 Sl3
1915 1900 I60y
1862 2l 80 I9GI
If 1t be assumed that the debt now Aeon,
lating will go beyond six hundred million.
i undoubtedly "a y, win there is still nothing als,m as
or to eight hundred millions the rroport;o,,'ifd,
comes but $22 SO per capita for M the .',u ~ be-
population The national debt of Enola"sl "loie
over eight hundred millions Of pounds Stew: is
or four thousand millions of dollars. wh;laag
population on which it is imposed IS le.s 4 ihe
SSursmEngIsnd, Scotland, Ireland and ali na man
Itin Il IS fberesrs en- fSo but 2sos6 sos nhabtaats
population, and yet they manage to ,ns os, Whole
under it. Clearly, we are not At nysssg s slong
great danger, or great suffering, on .accoru n IN
our %.. national debts. = Philadelphia NJ. Mo q