The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1864-04-21

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There is an impreS sion abroad among the
people, which we have already commented
upon, that, as greenbacks are 80 plenty.
and every one is feeling 50 prosperous, i;
is perfectly right and proper Cor every one
to spend as freely as he likes. There is no
sort of Conscientious feeling in, regard to.
the duty Of economy. The expenditures
for Injuries are unexampled, even in the
history of our wasteiul people. Every one,
except those dependent on regular salaries,
is extravagant to the last degree. The jes.
elers, and the dealers in expensive goods,
assure us that there never was such de-
mand for the most costly wares. Diamonds,
pearls. watches and ornaments. bronzcs
and carpets, silks and satins, expensive fur
niture and paintings, wines and costly din
ner.ware, are continually sold, and are or
namenting our wealthy houses. Then, IN
the classes Of more moderate means, similar
habits on a smaller scale everywhere prevail.
The wives and daughters of shop-keepers
and upper mechanics, of teachers and preach.
ers, of couutry lawyers and doctors, stilL
buy their silks, and carpets and pianos, as
if they were az well cff.as they ever were.
The nation does not seem to recognize
that it is in war, or that its habits of econ.
omy have anything to do with it's ability to
pay the public debt Some one else seems
to be spending for the war. while we spend
for foreign luxuries "Money is plenty.
and why should not we have the benefit Of
it," "The Government may be in debt, and
we have plenty of means.' Such is the
universal thought on this matter, ifnot the
expression of it, and it is full time that the
press and the pulpit should expose its fal.
lacy, and teach some of the frs. principles
Of political enconomy.
1t must be remembered that we are all
in debt for the expenditures of this war
every individual man, woman and child Of
the whole community. 1t is not the Gov
ernment which is paying, but we, the peo.
pie. For every dollar-or, in other words,
for every days labor-diverted to this war
and, in great part, wasted, in an economic.
al poiat Of view, we must each Of us pay
in full, or at least pay its interest, if we
lay it on the future. We cannot escape,
this. All the Treasures in the world can.
not make money. IfMr. Chase possessed
all the financial genius ever granted to man.
he could not create means for the nation to
pay its debts with, any farther than he
creates labor. He may indeed borrow from
the labor of posterity, but he must pay in
terest from the labor of to-day. In so far
as the money he sends forth exceeds the Ia.
Dor it is designed to represent it loses in
value and purchases less of commodities.
1t is just as impossible for the nation to ex.
pend its income for war, and at the same
time to buy foreign luxuries, as it would be
for an Individual We have each of US
and collectively, only just so much which
we can spend, if we go beyond. we fall in
debt and may eventually be bank rupt. It
is clearly possible for this nation to spend
50 much on this war. that neither the labor
of the present nor the mortgaged labor of
the future could repay it National bank
ruptcy is a. event-improbable as it may
be-which is within the limit Of things
that can happen. If it should come, no
words could paint the disgrace and the cal.
amity which would overtake our country.
But there is not the smallest reason to
fear or anticipate this, provided the people
will only apply their conscience and their
common sense to the whole question. This
nation could bear debt of Ave thousand
millions of dollars, and eventually, with our
enormous production, sweep it off. provided
we acted under it, as we should if II were
an individual debt-that is If we economlz.
ed to the utmost degree. n dita
What we pay for foreign luxuries dimin-
shes the capital Of the country and our abil-
ity to meet our public Obligations. Our
imports of luxuries are so much lost to us;
they also tend to raise the price Of gold, and,
Of course, in so far to add to the total expen.
ses Of both Government and people. 1t is
the plain and manifest duty at this time Of
every man ard woman to bring down .her
expenditures. It is an obligation that we ow Q
to the country not to buy foreign silks and
satins, and iewelry and wines, or costly fur
niture from abroad. Every person should
feel that for himself he is bound to save all
that is possible. OLD clothes should be worn,
old furniture used, Injuries be dispensed
with, to meet this terriblecr We have
no right to buy useless indulgencies While
we sre laying up great debt for the futu;e :.
1t is not honorable; it is not patriotic, nor
even prudent. No people can be spending
a thousand millions on gigantic war, and
at the same time be holding carnival of
extravagsnce and gluttony. Somebody
must pay for it all. Our apparent superfiu-
ity Of money should either be invested in
permanent investments, or should 60 to
cure the SAD ills ofw Orr great success,
financially, in the beginning of this strus-
gle, resulted from the universal economy Of
the people. We saved enough then to pay
the current expenses Of the war; This has
all passed by. Every one now is spend
ing money for every possible vanity. Care
fu 6nanciers estimate that $500,0 ,0Oo, 900
per annum can be saved by retrenchment.
Unless the people shall see the folly and
wrong Of this extravagance: unless Congress