The Ashland union. [volume] (Ashland, Ashland County, Ohio) 1854-1868, 1864-10-05
RealEstate as a Resouree.

I
cor quest and devastation, is, the effort to
make the nation believe that tits notruin-
:, ing Itself by enormous expenditure and
waste. far 10 access oflthe annual earn
4 ings. The shoddy interest. the con trac-
y TORS, the dispenser, OF, Federal patronage,
FALL play one tune, and the burden of that
Z is. the exhaus,less wealth Of the country.
i increase of properly by devastation, and
sale slaughter in the field, Like the par,
asites that surround a prodigal heir whom
4 4 they have within their tolls, they en-
courage his riots and waste, and threaten
i vepseance-a on any who call attention TO
his approaching ruin. They don't want
4 his 4credjt shaken" until the utmost dol
lar is squeezed from the deluded victim,
/ when he is kicked into 1.-The street " ith the
1 admonition: more fool you" s
Il. Some ten days since we pointed out
the fact that the PR mises Of tie Govern
nient already exceed the resources Of the
nation, ard that the gull yawns before Us.
i The truth of the picture startled pubic
attention, and already the ,shoddy interest
has rallied to. the charge with such euer-
| gY as it can muster. To The crude no.
! tons OF. The Gtpmercial We have replied,
| but numberIess other attempts are made
to, persuade the people that lavish debt is
means. OF wealth. One of them. in the
form of a pamphlet, is puffed in the Eve
| ning Posi-; which, while winkiDg at the /
deceptive statements, takesfeoods care not
to endorse them We will examine the
leading Ioint.s The official report of the
aia0upt 9tSS ut Of Federal debt outstanding, is as
ffohoWs: flif9WS: b,as s@ ,gtaH F'sR
Jdne 30.l 1862 S5f4.2 .s7f
June &c. 1863. 1908. .79S. .Is7 $574, ,5sI.R16
June So 1864. 1.791 ST. $40 SIS, ,e74 .66s
Z oFhis ddes nosinclude the Debt, Hut sim
ply the acknowledges actually ouistsnd
ing Al each date The increase is pro-
gressiye, and stthe'san, ratio the auount
will he s2.600000OC0 July 1865, and |
Is3 100000 900 July 1886, The pam
phlet to which. welaiiu6e assumes that the |
debt in 1866 will be SO 0GO 0Oo0e0--l
3 The population of the Northern States
in ins1s60!Per ceusus, was 30 057 $50, and |
thes-razi OF 4f -i''ereese J
largest immigration ever known was thir-
ty-seven per centuni A The same rutio
of iucrease the populatinn would now be
%. coo eco; but 100000 Of them ost active
men havetbeen destroyed in ibe war, aud !
the imnieration has been much less than
before Hence the population may now \
be rated at 81 ,0e0 OC0, and the existing
debt August 9Th at sooner head, or S455 b
every ucrfhern fsmily-s27,3 80 per annnm
tax This is simply the annual interest
on the existisg debt. In 1866, if the ex- I,
pendifures are not increased, the debt will Z
be S375Co,000,o00, or sl7U PEI head, or
$3.50 each family, or S5l per snnnrn in
1.-THE expenditures of the Federal Gov t
erument willswell the i,:onnt Sl02 each
family per abhum. The london Econo-
mist of July Is contains official figures
sbewing the interest of he public debt to
be $50 per famIly of7fve; that of France,
BPS; that of Holland s37s The pamphlet
o which we refer makes the United States
ntefest So per head, and uudervalues all :.
'thers in proportion.
, Having performed this feat he proceeds Il
oi show what enormous resources there Al
ire to pay with. Tn the first place, he as I
umes that if the Union is restored the
Southern debt, devastation and losses will
be ignored, and the whole So4th, with its I
srmer productions, applied exclusively o
o Northern debt and profits. This is ut h
erly absurd on the face. The crpwning
rror df this and similar effurts is, howcv-
n, to- show extravaganza 10 be the true II
oad to wealth, and lis expressed in the al
lines 1898 F'i~ Itf
.sSuppusine the rebellion to terminate =,
t OF before the close If 1865 rhe popula :.
ion of tile restored Union (which was 81 81
G0 900 in 1860 to be $1,000 coo, the p;
ebt So 600 ,0e0. .000 and the value of the re
eal and personal property of The seceed- A
ug States to be somewhat less than that N,
ror toals60 G e; ;ss5 G06 900, coos !,
hen the value of the real and personal dC
roper;y of the whole Urion would be N
bout S21 $4,000 coo; the average to
1ealth Ier capita s634 50; the average 4, Z,
ebt per capita SS2..'' % a7a" -
The erroneous estimate of the amounts le'
f debt we have already explained 1t sw
ill be observed that the whole fabric of + flo
he argument turn. on the attempt to iu- lth,
uee the 'unfhinking public to regard the
come value OF real estate rs resource y
'r the payment of debt. There is only cit
ne possible resource for the payment of an
lxes, and that is proportion of the an bir
nal productions The value of real es-
tie is only an Indication of the value of :, =
he producrion;it can in no way whatey TT
; be app led TO the payment.of debt; of chi
le annual production, a very small por y
on is applicable to the payment of debt, Ii
9cause nearly all the production is con- ~
Imed in producing il. The cen US gives
the Northern personal property, or the -
rf1us of tie earnings over consumption, tha
81 700 O0)O saved from all sources mi,
two hundred years, when comparative ,yo -
no Federal taxes were exacted.!1 IF in -
e last ten yearsthe people had beei com Al
He'd to ray $2I0,00O,00 as will be the ty-
Sc in 1865, tbs smoTnt paid would have Is
en- go 100000 600, or mere than the AZ
rplus savings of the last fifty years!
Those not accustomed to r, feet upon lra'
E eioperation oftaxes are easily niislrd by Let
e sarhistrvl OR The Gimme rciaI q nd oth Ithn