Clearfield Republican. [volume] (Clearfield, Pa.) 1851-1937, 1864-11-16
The English Press on the American War
TIE DELUsIoN OF THE NORTH.

TIE DELUsIoN OF THE NORTH.
From the London Times, October 2S.
Experience in misfortune is pretty GER
tain TO have SOLDERING effect on indiyidu-
ais, bat communities frequently disregard
the practical warnings ths sufferings of
their fathers have transmitted 10 them -
We speculate as wildly and are as liable
TO periodical panics and insolyencies as if
we knew nothing of the effect Of olI
D., schemes and mapias, But in some tl..uvs
the lessons Of calamity sink deeper, and
we are really in some degree governed by
the experience Of the past. The English
nation, for instance, has acquired a full
and wholesome knowledge OF the effects
of war and war expenditure. To Ameri-
ica, in the present crisis, it has been n
great misfortun that during its pas. po-
litlcal existence it has bad no experience
severe enough TO teach it that it was even
as other nations.
The Americans have been the spoilt
children of fortune. placed in the midst
of such natural advantages that their rap
id prosperity seemed 10 themselves spec
ial distinction accorded them above oil
people. No great national adversely had
ever tried them. 1t appeared so impossi-
ble their course of prosperity should ever
change that they seemed TO have convinc-
ed themselves they had taken bond of
fate, and that their brilliant condition
was immutable. There has been violent
change, and they are plunged into some
of the worst calam les that have ever af-
flicted the Old World. But it still seems
to them an i'm possibility, and a. such they
regard it.
Yet if they compare the America OF 1861
with the America of 1860, the most incred-
u!ous must perceive that something ex-
traordinary has occurred that cannot be
accounted for 10y the "partisl rebellion
theory. 1t is changed land. The chef
authority is divided. There are two Pres
idents and Federations, each supporting
enormous armies - things hitherto un-
known. There are fortress PRISONS and
arbitrary arrests for treason" There are
military law, civil tribunals that dare not
act, and whole States held in the Union
by armed foroe Added to these portents
arc the sontinual battles all bloody, tho
few decisive and this desperate strife oc-
ours on soil to which such blind demor-
alizing conflict was to be unknown. Sure
ly, here is rebellion, il change DO its es-
sence. Can Mr. Lincoln himself recog-
nize the Repu blic whose Government he
accepted from the hands OF NJ. buchanan?
There are some who Gndt difficult, and
who are admonishiny their countrymen
OF the perls surrounding them but as
yet they appear to I've preaching to the
deaf, though the warnings are principally
founded on the alarming condition of IN.
national finances, topic upon which
mercantile community ought TO be quick
oil comprehension. But even TO point the
moral of what is passing under the eyes of
the people, their more rational advisers |
are obliged TO have recourse to an Eng /
llsh authority. Americans are only begin
nlng TO reflect on the cost of the war. IL |
was one OF the first considerations that
occurred TO European statesmen, and
greatly influenced thoir opinion on the
policy of the North. The American cal
culations we have recently published
prove that two millions of men have been
lost to industry, and that instead of two
or three hundred millions sterling, the
Northern Treasury has already expended
double the largest Of those amounts. In
June last the Federal debt was Es20, 900,
600. Since then the war has been carried
on at the estimated cost Of eS00,O0 day.
by March next therefore. when Mr..
Lincoln, if elected, will begin his second
term Of office, the debt Of The North will
amount TO E700,000,OO0 The interest of
this debt will be, at least, GI2, 900, ,O00-
This principal however, gives a vay I'M
perfect idea of the sum total Of the nation
al liability. All reference to the Confed-
eracy and its debt is, of course, omitted.
The seven hundred millions do not include
" the immense amount eli unsettled claims
yet to be brought in," of which the Amer
lean estimate speaks. The items we need
not specify, but coming at once to the to-
tai OF the calculation, we find that they
viii! add more than $500, 100000 to the
asceriained debt, making a grand total,
which can be more clearly expressed in {
words than figures, of one thousand one ,
hundred millions sterling. This is half J
the value ol all the real and personal A..
property in the loyal States even reck-
oning among them the two States of
doubtful allegiance, Missouri and Ken
lucky.
But even now we have not arrived at
Ihe climax, The last property valuation
of the Northern States was made when
they were at the hight of solid prosperity 9
Since that the productive powers of all
have been fatally diminished. and Mary
land. NJ issouri, Western Virginia, and :
Kentucky have been devastated The
last tale of destruction is from the Valley a
of the Shenandoah, which is being delib- I
'rately converted into desert. The in
Icrest OF the debt already accumulated is
reckoned at per cent, or almost double
hat of England so the Americans have
The prospect Of bearing future financial
burden exceeding that borne by any Euro !
pean nation. 70 pay the interest of the