The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1864-04-22
An Earn est Word of Warning.

An Eurnttt worn oi WHFU'Ues
There is an impression abroad among
the people, which we have already
commented upon, that, as greenbacks
are so plenty, and every one is feeling
so prosperous, it is perfectly right
and proper for every one to spend as
freely as he likes. There is no sort
of conscientious feeling in regard to
the duty Of economy. The expendi-
lures for luXuries are unexanpled.
even in the history of onr wastei'ul
people Every one, except those de
pendent on regular salaries, is ex.
travagant to the last degree. The
jewelers., and the dealers in expen.
sive goods, assure US that there nev-
or was snch a demand for the most
costly wares. Diamonds, pearls,
watches and ornaments, bronzes and
carpets, silks and satins, expensive
furniture and paintings. wines and
dinner-ware, are continually sold, and
are ornamenting our wealthy houses.
Then, in the classes of moderate
means, similar habits on smaller
scale everywhere prevail. The wives
and daughters of shop-kecpers and
upper mechanics, of teachers and
preachers. of country lawyers snd
doctors. still buy their silks, and car
pets and pianos, as if they were MS
well off as ever they were.
The nation does not seem to rccog-
nize that it is in war, or that its hab-
its Of economy have anything to do
with its ability to pay the public debt.
Some one else seems to be spending
for the war, while we spend for for.
eicn luxuries. "Money is plenty, and
why should we not have the benefit
of it?" "The Government may be
in debt, but we have plenty Of means, "
Such is the universal thought on this
matter, IL not an expression Of it.
and 1t is full time that the press and
the pulpit should expose its tallacy,
and teach some of the first principles
Of political economy.
1t must he remembered that we arc
all in debt for the expenditures OF
this war-every individual man, wo-
man and child Of the whole commu.
nitv. It lis not the Government which
is paying, but we, the people. Fol-
every dOllar--or, in other words, fol
every days labor--diverted to this
war. in great part, wasted, in ar
economical point Of view, we mus
each ofus pay in full, or Mt least pay
it's interest, if we lay it on the future
We cannot escape this. All the
Treasurers in the world cannot MAKE
money. If Mr. Chase possessed al
the financial genius ever granted tC
man, he could not create means FOL
the nation to pay its debts with, an,
farther than he creates labor. H'
NAV indeed borrow from posterity
but he must pay interest from to-day
In so far as the money he sends fortl
exceeds the labor it is designed t.
represent, it loses in valne and pur
chases less of commodities. 1t il
lust as impossible for the nation t.
expend its income for war, and at th,
same time to buy foreign luxuries, a.
it would be for an individual. w
have each OF us and collectively, on
Ily just so much which we can spend
if we go beyond, we fall in debt an
may eventually be bankrupt. 1t /
clearly possible for this nation t
lspend so much on this war, that neitll
er the labor Of the present nor tn
mortgaged labor Of the future coul
repay it. National bankruptcy is a
event-improbable as it may be-
which Is within the limit Of thing
that can happen. II it should come
no words could paint the disgrac
and the calamity which would oyel
take our country.
But there is not the smallest rea'
on to fear or anticipate this, provide
the people will only apply their cor
science and their common sense
the whole question. This natio
could bear a debt Of five thousan
: millions of dollars, and eventual,
9 with our enormous production, swee