Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1864-05-27
Fhs FAtafs 81 Ouf Natlonaf Ds6,,
From the New Yorker

MsnY careful sud prudent man lat
upon ins / ere5se Of our nalioneI IN
WIN sober forebodidg. Let ne s-.,s;."
me whole subject fairly and see 10 :.
y -ot enly able TO pay our present bBt a..o
s@sonsoie - further debt that the exiosns;:S,
a. ~ "sr may compel us 10 ipour az I,ot 49,
sue yment will neither be difisrIt =, - =
ossssFeiy onerous. Let as sec ,-I.a ~ - -
'ae Iaets. Unlike an indiv;5,.i -t.I,o 80
unable to count with csrtainI1 - ~ -
creased ability to pay in he yrt-Sa n n
aeot ne contrsctsin the preseDt-tLjs -. -
try Is sure to increase in wealth s15 s--- So---
istlon. Ii appears from the censps =.
turns, that the increase in tbe vSIn. =
real snd personal property in the UnitSj
I'sles y from Io4O to 1850, was from thres
millions (SS, ,764, ,O09, ,OOO) in IsS01 r. s;r
thousand one hundred sand ssvs1i,,Ils.,..
millions (S6, ia. .OOO, ,OOOl in Is5S - 81
per cent. The next decade shows \ am
greater advance in general prosperity and
rlohes; FOR In that period, the yield Of
Out gOlu mlnes, the extension Of our rail-
Ioau system and consequent opening Of
Lew neids Ior agriculture, our large inami-
grsloni and the stimulus given to every
oranch OF manufactures and the mechanic
arts raised he national wealth from six
thousand one hundred and seventv.fou-
millions (S5, 5,l74, ,000, 0OO) in 1880 % tbe
enormous aggregate Of fourteen thouaand
one hundred and eighty three milliona
SI4, loS, ,OOO, ,OO5) in 1860, or I27 per cent.
OF Whieh ten thoussn seven hundred and
sixteen millions (SIO, 7I6 900, OOOl "a
e0Hsd IN the loyal Stltes. Is three auv
good reason to believe that we shall not
continue to prosper as we have done-fex-
oePt from the chances Of war, which can
only modify and not change the character
oi the answer to the question)-that he
aanon VIII not continue to nearly, n moi
quite, double its weslth every ten years
Tor decades to come? We have but js,f
'egHH to work our gold mines, and the vast
oody OF our other mineral wealth Ia still
lndeVelopsd. We have fertile landa
enough for sn empire that the plow has
never touched, and it is only in this gen.
ration that science and art hay5 fairly b.
sun to open the doors, and show the way
oWards our future material greatness.
But experience Of what others have done
RIi Rd g6omislr Rs5 icy g1S68s RS 1SS8st y UEq @aXp
ory. At the end Of her great wars in
1916, her wealth was estimated At ten
thousand four hundred millions (SIO4O0.-
)OO,OOO) aud her national debt at that time
vas four thousand three hundred millions
81, BOO, 600, ,000) or more than Al per cent.
# her entire property. In 1861 per orop.
srty was stated at thirty-one thousand ave
hundred millions (8I,5O0, 900, ,OOO) while
her debt was three thousand eight hund.
red and ninety millions (S3. 800, ,OOO, ,OOOl
II was q charge on the property II the
country Of on y about 121 per cent. II
needs no argument to show that the weight
u the burden Of this debt is now, but one
third what it was when contracted.
We do not wish 70 deceive ourselves on
either side Of this question. Debt is al
ways bad enough but we should look the
fscts squsrely in the fsee, and accept what
ever deductions We have 9 right to draw
from them ss truth In spite Of the war,
we believe the Northern States are ss rich
to day ss they were three years ago. Such
3 demand for labor was never before
known, and never before 30 we'll paid.
War destroys, but cur hand Of industry
and the creauon TnI1h 0feSad ia -nreate.
the destruction. Large as our loss Of brave
and gallant men have been, the population
of the country has steadily increased; and
unless some soourge such ss never visited
q nstion should come upon us,-unless We
should be utterly destroyed, or dismem-
bered and broken to pieces by yielding 70
this demon Of secession,-there is no hu-
man power that can arrest our continueds
progress and development. All wars ha0s
ended as will ours. Let US hope that it
may be soon; but when il is ended, and
triumphsntly % il must be, this county
--------=--- e'ssES = PVoAsAeH II PVPoA8tAOAI
wealth, and vigor that will make its debt
50 small in proportion to its wealth that
the most timid man will laugh at the fear
that may have once over-clouded his Vis-
ion.