The daily Evansville journal. (Evansville, Ind.) 1862-1863, 1863-01-06
Cur National Finances.

In anticipation of The annual report of
the treasury soon to be made, we are en-
abled to lay before our readers, approxi--
mately, the condition of the national
finances up to near the close of the pres
ent month. We may not give the exact
figures IN every case, but our statement
will be found to be very nearly accurate
The public debt of the United States
may be divided into three classes-that
contracted prior to the loan Of $3.50, ,000,-
900 granted in July, 1861; the loan of
that date, and those authorized by Con-
gress at its last session.
The amount of debts of the first class
will probably reach about Sl1S,000, 1000
Of the second class, the S250,000,000
loan, $l50,000000 is made up of 7
3-l0ths, of which about Sl32,000,000
have been issued; S50,000.000 six per
cents due in 1881, and $50,000,0GO of
the demand notes which were made re-
ceivable for dues at the custom house.
About one-half of these are already can
celled, and are being retired at the rate
of 100000 per day. Their places, how
ever, are supplied by what are termed
the ''new issue" of demand notes.
Since the passage of the act of July,
1861, the government has relied chiefly
upon its demand notes, upon the depos-
its made with the several sub-treasurers,
and on the issue of certificates of in
debtedness. Of the latter, about S66,-
000000 have been issued OF the "new
issue" of treasury notes about $llS,000,-
600 are already in circulation. The de-
partment is now paying them out at the
rate of $780, 900 daily. Of the class of
notes known as the booths, SlS,571, 100
have been issued The amount of de-
posits with the sub-treasurerers on call
is about S65, 100000 The aggregate
Indebtedness of the department, conse-
quently, will foot up as follows:
Debt contracted prior to July, 1851 Sis cor, 900
Bonds bearing $40 per interest. I32 200 600
Bonds bearing six per cent. interest,
payable in =. ~ ..... 50,0o0, 600
Certificates of Indebtedness G6,0OO 900
Deposits with the su5-treasury, and
payable on 65, 900 900
Treasury notes. issue ............. $50 OOO pnD
Custom House notes....... q, ,000, 600
The tiye-twenty years bonds. ........ 1851 100
Total 600
This statement, we believe, is approx
mately correct, taking the figures as they
liabilities cf the government considera-
bly, less than the current estimates. 1t
should relieve all apprehensions as to
any embarrassment to be caused by our
public debt. The interest on the total
amount, at six per cent, is only $780,
2l4,266. But only $349, 9,571, 100 draw
interest, reducing the charge upon the
Treasury from this quarter to SIG, ,974, :
266 To meet this charge we have the
revenue from customs, which will proba-
bly, equal 900, 600, 900 the present year,
and the revenues from the extraordinary
sources recently provided.
These sources were designed to realize
fully $l00,000,000 annually We learn
that SO far thev promise to prove pro-
ductiye far beyond the estimate There
can be no doubt of their realizing an i'm
mense sum, and forming a secure basis
not only for the payment of interest ac-
cruing on the public debt, but for its
rapid extinguishment upon the close OF
the war. The abundance of money
demonstrates the ability of government
to borrow to any required amount AS
previously argued by us, the nation finds
no difficulty in sustaining the burdens OF
the war, as it possesses in abundance
whatever is necessary for its prosecution
men, food and materials, and muni-
tions of all kinds SO long as the people
will dispose of these for the obligations
of government, no financial embarrass
ment need be feared
In the present financial condition Of
the nation, consequently, all is well. The
people have not lost jot of their conf
dence, twithstanding the failure in the
operations 0of the Government They
feel that want of success has been due tc
incompetency in those who have directed
affairs, not to any weakness of the cause
or in the means of its maintenance ano
support. Confidence is unabated tina
the right man in the right place will al
last appear. More than year ago il
49, -1I-----.11- -1---->1---
cesses were essential to the negotiation
of loans They have not come in the de
gree predicted or expected; yet it would
be far easier for the Government to Dor
row to-day than it was year ago. W.
refer to this to show that it is always un
safe to underestimate the financia
strength of people. On the contrary
| the war will demonstrate strength vi
the part of the nation far transcendin,
whatever was claimed for it by its mos
ardent advocates The natural resourc
Of this country are so vast that no limi
can be placed upon It's productivenes
under the Stimulus of great necessity, o
demand, especially so long as the war
not waged upon Northern soil Wit
our financial strength unabated, all othe
things will come in due time. The e1
perience, under similar circumstances
Of all nations addicted to peace, has bee
similar to our own. But the work {
preparation is going on, while militar
talent is being developed, so that we al
really making vastly g.eater progres
than is supposed. In the meantime W
are consolidating our political unit.
gaining in confidence and in experience
which cannot fail, in the end, to condut
to complete success.