The Emporia news. [volume] (Emporia, Kan.) 1859-1881, 1864-06-04
The Future Of our Natoinal Debt.

The Future of our National Debt.
Many careful and prudent men look upot
the increase of our rational debt With some
loreboding.A Let US examine the whole sub
Ject fairly and see if one are not only able to
pay our present, but any reasonable further
debt that the exigencies of war may COM
pei Us to incur, aud that the payment will
BeitEer beydif8cdlt or excessively onerous.
Jet psssee Hhst aFe The facts. Unlike an
individual whe.is unable TO count with GER
tainty upon increased ability TO pay in the
future the debt he contracts in the presents
this country is sure to increase in wealth
and population. 1T appears from the census
returns, thatIthe increase in the value of
the real and personal property in the United
States from 1910 to 1850, was from three
thousand seven hundred and sixty four
millions (S3. $4,000 in 1910 to six thou
sand one hundred aud seventy four mil
| lions {$6,174,000) in 1850, or 81 per cent.
The next decade shows a still greater adj
vance in general prosperity and riches.
For IN that period the yield Of. our gold
mines, the extension of our railroad sys-
tenn and consequent opening of Gew fields
of agriculture, our large immigration, and
the stimulus given to every branch of man
uiactures and the mechanic arts raised the
national wealth from SIX thousand one hmm
dred and seventy millions in 1850 to
the enormous aggregate of fourteen thou
sand one hundred and eighty three millions
in 1860, or. 127ipeT cent, of which ten
thousand seven hundred and sixteen nail
lions was owned in loyal States Is there
anT good reason to believe that We shall not
continue to prosper as we have done Tex
Icept from the chances of war, which can
only modify and not change the character
of the answer to the question THAT the ma
ton will not continue to nearly, if not quite,
double its welth every ten years for several
gun to work our gold mines, and the vast
body of our other mineral wealth is still IN
developed. We have fertile lands enough
for an empire, that the pillow has never
touched, and it is only in this generation
that science and art have fairly begun to
open the doors, and show the way towards
our future material greatness.
But experience of what others have done
will best tell US what we may rightfully ex-
pect to do. Let US compare our position
with that of Great Britain during one of
the gloomiesl periods Of her financial histo-
ry. At the end of her great wars in 1916.
be ealth was estimated at ten thousand
IFS Afudred milione, and her national debt
OF at time was four thousand three hun
dred millions, or more than 4 1 per cent. OF
her entire property D In 1851 her property
was stated at thirty.one thousand FIVE hun
bred millions, while her debt was three
thousand eight hundred and ninety millions,
or was charge upon the property Of rs
per cent. It needs no argument to show
that the weight Of the burden of this debt
is now but one third what it was when con.
tracted.
We do not wish to deceive ourselves or
either side of this question. Debt is always
bad enough, but we should look the facts
squarely in the face, and accept whatever
deductions we have right to draw from
them as truth. In spite of the war, we be-
lieve the Northern States are as rick to-day
as they were three years ago. Such a de
n1and for labor was never before known, ant
never before was it, so well paid. War de
stroys, but our hand Of industry has never
for a moment ceased to create, and the Gre
/ alton will more than balance the destruc
ton. Large as our losses of brave arc
/ gallant men have been, the population o
the country has steadily increased; ard un
less some seoGrga such as never visited {
nation should come upon us--unless WI
should be utterly destroyed, or dismem
bered and broken to pieces by yielding t.
fthis demon of secession-there is no hu
man power that can arrest our continued
progress aud Development. All Wars have
ended, as will ours Let US hope that /
may be soon; but when it is ended, ant
triumphantly, as it must be, this country
is bound to take position in population
wealth, and Vigor that viii make its debt s.
small in proportion to- it's wealth that tn,
most timid man viii. laugh at the fear tina
may have once oTer-clouded his vision
Nea0 Yorker. ea-