Juliet signal. [volume] (Juliet [i.e. Joliet], Ill.) 1844-1???, 1863-03-03
The National Indebtedness.

While the present terrible war, which
was commenced to put down a most Gnius.
tifable rebellion, is sweeping thou sands of
our middle-aged and young men into ater-
nifty, land devastating cur land with fire
and sword, and rendering more intense
the feelings Of nlionation between the pe9-
pie Of the two sections of the country, it
may not be Improbable to turn our eyes
from this sad picture f1r moment and to
contemplate the condition Of our national
finances. 20.
The amount of our national indebtedness,
according to the figures taken. from.
speech made in CbRgress by the Chairman
Of the Committee Of Ways and Means,
already authorized, is two billion, one hun
dred and twenty million Of dollars. ~.
The interest on this enormous sum, is to
be paid in gold, ana will amount annually
to one hundred and twenty-seven million,
two hundred thousand dollars.
Let our tax payers think of that snug
little cum to be paid for interest, every.year,
in gold, even if the war ceases tomorrow !
How can we raise it2 Secretary Chase
says in his report we will get sixty-oight
million dollars from duties on Imports
This is too high au estimate, but we will
assume that Mr.. Chase is right. Then
taking sixty-eight n illion fran one hundred
end twenty million; two hundred thousand.
still leaves fifty -nine million, two hundred
thousand dollars to be raised and paid in
gold. 1t addition TO this, it is estimated
that We must pay at least light million Of
dollars year in gold. for diplomatic ex-
penses, &c. This makes sixty seven mil
lion, and two hundred thousand dollars,
yearly payment in geld, after dedueting
the amount roceized from duties. on i'm.
ports. as,- s.. sss -..s- ...-.r -....- 4.
Now comes the pinch of Mr.. Chase's pa
per money system. The way the preinium
for gold is. aivaHcing .7iti will not be dong
bsfdre it will he one hundred sper cont
Thue, it viii be readily seen the amount to
be raised for interest on the public do b..
ter amount Feceived from ir pos .duties
shsfi have been deducted, 10 uur present
currency, for gid is rot to be had. win be
one hSqdred and thiFfy four. million, four
hundHed thousand dollars.rsar 81 .-.s.
This Sum will baxelto beaeaid out of tho
internal reyenue, wlii3h55 canhot reach,
.eae hundred and fly m ilIiou Of dlIlarp,
Tearing. only .fifteep mitlion, six .hundred.
thousand dollars for the currest .expenses
Of the Government, which, even IN lime Of
peace cannot fall short of one hundred mil
dion of dollars. There viii accordingly be
an annual defOit of eighty-rour million
four hundred thousand ,sdollars, without
paying ohe7eept IF the principal Of tho
pubicdebt, after making the most liberal
estimate for our receipts from impost du. \
ties and 1iDternai taxation. znT
Whatd6 cur rich men and tax-pavers,
and every man who eats or.wears anything
is tax payer, think Of this -picturea Is
hst'the country drifting,to the cataract Of
population, under the preaent finahichl
management, With tiectricspeedig Surely, |
five do not haYe.a changs.ysoon, national
bankruptcy will be upon u.s.. We are on.
posed to Reputation, but unless We soon
shall have new and bettsr men to manage
our national funds,sitiEill DO ineEitaple.
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