Ashtabula weekly telegraph. [volume] (Ashtabula, Ohio) 1853-1873, 1864-04-23
An Earnest word OF warning.

There is an impression abroad among the
people, which We have already commenled
upon, that, as greenbacks are SO p,enty,
aud every one is feeling SO prosperous, it Is,
pc fecily right aud proper for 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 Inquiries are uueXnmpIed, even IN The
history OF our wasletul people. Every one,
except those dependent on regular salaries,
is exiraVsgant TO the last degree. Tne
jewelers., aud dealers in expensive goods.
assure us that there never was such u de
maud for The most costly wares Diamonds,
pearls, watches, aud ornaments, brohze>
and carpets. silks aud satins, expensive far
uiture aud paintings, wines and costly dln-
uer.ware, hre continually sold, aud are or
nameuting our wealthy houses. TDen in
the classes of more moderate means, similar
habits on smaller scale eYerywDere PIE
vail. The wives and daughters of sbOp-
keepers aud upper mechanics, Of teachers
and preachers. Of country lawyers aud doc
tors, sill buy their silks, aud carpets aud
pianos. us if they were AS well Oh as ever
they were.
The nation does not seem TO recognise
that it is iu war, or that It's habits ol ecou
oms have anything TO do with its ability to
nav The pubic debt. Some one else s-ems
10 be spending for the war, while We Speud
for foreign luxuries MONEY is pleuIy,
and why should se not have the beuedt OF
it Z" "The Government may be 10 deo',
but we have plenty OF means" SUCH is Ihe
universal lhought on this matter, If not The
expression of il, and it is iull time that the
press aud The pulpit should expose its falla
cy. and teach some of the FIRST principles Of
political economy.
1t must be remembered tha: we are all
in debt for the expenditures of this war
every individual man, woman aud child OF
the whole community Ii is not the Gov
erument which is paying, hut we, the peo'
pie. For every dollar--or in oIher words
for every days Iabor-diverted TO this war,
aud, in great part, wased, in an eeonoml
! ca! point of view, We mus ta,h OF os pay
10 full, or at least pay its lhteres', il We lay
! it Oh the future. We cannot escape his
| All the Treasurers 10 the world cannot
make money. If Mr. Chase possessed a.
the financial genius ever granted 10 man, he
could not create means for the nation TO
pay its debts With any farther than he ere
ates labor. He may indeed borrow from
posterly, bot he must pay interest from 10
/ day. In so far as the money be send
folt exceeds the lsbor il is designed 10
represent, it loses in value aud purchases
less of commodities. 1t is just as impossi
ble for the narion TO expend lis Income Tor
war. and at tho same lime 10 bny foreign
luxuries, as it would be for an individual
We have each of US aud collectively, only
lust SO much which we can spend if We
90 beyond, We fall in debt and may event
ually be bankrupt. 1t is clearly possible
for this nation to spend SO much on this war
that neither the labor OF the present noi
the morigaged labor Of the future could re
pay il. National bankruptcy is al even
improbable as it may be---which is with
in the limits of things that can happen :
If it should come, no words could paint lh'
disgr ace and The calamity which woul(
overtake our country.
But there is not the smallest reason K
fear or anticipate this, provided the people
will only apply their conscience aud ,nel'
common sense TO the whole question I'M
nation could bear debt OF 6gethoasant
millions of dollars, aud eventually. with on
euormus production. sweep i of, provides
we acted under il, as we should 4 u wer
CD ind ylsnal debt-ihat is.tif we econo
mized t0the utmost degree.
What we pay for f,ieign luxuries dimiu
ishes the capital Of the country and 90
/ ability to meet our public obligations :
, | Our imports Of luxaries are so much iosI :
Us , they also tend to raise The price