The Cecil Whig., 1864-05-14
1)ublit affairs.
)From tliJ New Yorker)
The Future of OIr National Debt

! Many careful and prudent men look upon
the increase of our national debt with some
/ furcbuding. Let us examine the whole sub
pay our present, but any reasonable further
debt that the exigences Of war may compel
us to incur, and that the payment will nei.
| ther be difficult or excessively onerous
! Let It's see what are the facts. Unlike an
/ individual who is unable to count with GER
tainy upon increase liability to pay in
| the future the debt he contracts in the
prcscnt-this country is sure to increase in
wealth and population. 1t appears from
the census retarns, that the increase
in the value Of real and personal property
in the Uuitcd States from Is 10 to 1850, was
! from three thousand seven hundred and
! siXty-Cour millions So, 76i, 900, oOO) in
| 1910 to six thousand one hundrcdand seven
ty.(our millions CSC, Ia, 900, o00) in 1850,
or Gi per cent. The next decade shows a
! still greater advance in general prosperity
and riches For in that period, the yield of
our gold mines the extension Of our railroad
system and consequent opening ofnew fields
! for agriculture, our large imm igraton, and
stimulus given to every branch of manutac-
lures and the mechanic arts raised the nation
al wealth from six thousand one hundred
and seventy fou millions (&6, HI, 01o, ooo)
in l8j0to III enormous aggregate If toultecl
thousand one hundred and elsLty three
millions (sl4, 1888, 900, O00) in 1860, Or III
per cent, or which ten thousand seven hun
drcd and sixteen millions $50, 7lG, 600, 000l
ras otcne,i IN tie ioyai StutcS. there any
good reason to believe that we shallnot con
tnuc TO prosper as VIC have do ne-cXccpt
| from hc chances ofwar which can only modify
! and not change the character Of the answer
to the question, that the nation will not
continue to nearly, if not quite, double its
wcalh every ten years for several decades
to come? We have bat jest jrg@n TO work
oar gold mincs, aud the vast body of our
other mineral wealth is still undevelopcd.-
We have fertile lands enough for amy cHnpirc
that the plow has never touched, and il is
only in this generation that :icncc and art
| have fairly begun to open the doors, and
| show the way towards cur future material
| greatness.
But experience of what others have done
vii. best tell It's what We may rightfully cX.
! pcct to do. Let us compare our position
with that of great Great Britain daring one
Of the gloomiest periods Of her financial his.
tory. At the end Of her great wars in 1916
her wealth was estimated at ten thousand
| four hundred millions $50, 400, 900, 00H)
i and her national debt Of that time was four
thousand three hundred millions (54, 3G0,
600, 900. or more than II per cent of her
entire property. In iSGl her property was
| stated at thirty one thousand FIVE hundred
millions ($5l, 5o1, 900, 0OOl while her debt
was three Thousand eight hunltd and ninety
millions & So, Syo, 900, 0J0) or was charge
on the property of the country of only about
! l2l per cent. 1t needs no argument to
show that the weight Of the burden Of this
! debt is nov, but one third What it WAS when
| contracted.
We do not wisl, to deceive ourselves on
either side Of this question. Debt is always
bad enough but We shoud look the facts
! Sqnarely in the face, and except whatever
deductions we have right 10 draw from
them as truth. In spite OF the war we be-
lievc the Northern States are as rich to
day as they were three years ago. Such Il
! demand for labor vas never before known
and never before Was it so well paid War
destroys, but our hand of indu ty has never
! for II moment ceased to create. and the ere
! alton will more than balance the t,est t.uction
| Llrse as CIR losses Of brave and galat men
have been, the population Of the country
has steadily increased and unless some
scourgc such as never visited nation should
! come upon us,-unless We should be utterly
| destroyed, or dismembcrcd and, broken to
pieces Ivy yielding to this demon oi secession
there is no human power that can arrest our
continued progress and Development. All
wars Aure ended AS will ours Let us hope
that it may be soon but when it is ended,
and triumphantly as it must be, this country
is bound to take a position in population,
wealth and vigor that will make its debt so
small in proportion TO its wealth that the
mostaimid man will laugh at the fear that
may have once over. clouded his vision.
| -------
4 GREAT COMET PEEDICTED. .-fhe follow
ing says an English paper is an extract OF