Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1864-10-13
The Resources of the Country, and
their Annual Growth in relation to
the National Debt,

clusively by the increase of population. or
the appearance of American ships in their
ports. But when we come to investigate
the ability of the nation to incur extraor-
dinsry expense. or to pay an accumulating
debt. the question is not so much one of
population as one of industry and produc-
tions. 1t is a question of the rate at
which the nation increases in wealth and
resources. This problem has scarcely
been investigated ct all, and is un lersto od
by few. To meet .he question of the abil-
ity of this nation to pay its present and
future war debt with promptness. and
without the least distress or doubt, we
propose to solve these problems: |. What
is the wealth of the Nation? 2 At what
rate does it increase? 3. Wha! 10 its pro-
portion to the Debt?
I. What is the wealth Of the Nation?
Wealth is all the available property of the
country--lands. houses. precious metals
and domestic animals, and instruments for
the employment Of labor, and to make
lands productive. In some countries, as
in Holland AMI Belgium, there is a consid.
erahle drawback on many of these. from
the fact that there is little or no market
for them, except for the use Of those who
hold them. Tins, a man who builds a
home in Amsterdam does not expect to sell
it for what it cost; he builds it for his ow n
use In this country it is exactly the re-
verse Every man expects to get more
for his property than what il costs. and in
nine eases GU; of ten is justified by the
event.
In country where foreign immigration
i, immense. and the natural growth rapid.
the market is always a rising oAe, and all
species OF property is marketable. Hence
in valuing the property OF the country,
there is no drawback from the want OF sale,
or the possible fall of values. The prop
erty Of the nation in one year is worth
NOR than it was appraised at the preced-
ing year. Hence. If we can find fsir val.
nation Of the property of the country.
that valuation is perfectly safe standard
to ascertain the wealth of the nation 1t
is only recently trat any attempt has been
made TO value the property or wealth of
nations. In this country. the only valua-
tions we have are in the Census of 1850
and 1860; but these are enough to estab-
lish both the actual value of property and
the rate Of increase. The valuations are
very well proved, By corresponding nearly
with several State valuations, which are
made for the purposes of taxation. For
example, the increase of wealth in the
State of Ohio. given in the United States
Census of 1850 and 1860, compared very
nearly with that given by the Auditor Of
State and Commissioner of Statistics. and
are known 10 be very near the actual sale
able value of property. We therefore as
sume the valuation Of property Of this
country given in the Censuses Of 1850
and 1860 TO be substantially correct.
The problem of wealth, estimated by
the cash standard of value, is solved
The actual wealth Of the country on the
LIST of July. 1860, was eieven thousand
fur hundred and ten millions, including
in this only the State. and Territories now
in actual possession of the government
On the same day the wealth OF the entire
country was sixteen thousand one hundred
and 6lty.nine million. sic. l59 900 ,000)
in rebellion. including portions of Louis
lana, a, kansas. Virginia. North Carolina.
DC, now in our control, was but four
thousand seven bundled millions, and Of
this sum not less Than one aud q half
thousand millions was in slaves. The ma.
tional wealth, by the rates of 1860. was in
fact three foid that OF the Rebel Confeder-
Ia t.a b.,l h,ly oT
ginia and Louisiana. fully in our control,
:he value of the Confederacy is but three
and a h0if Moasand millions; so that the
wealth OF the loyal country is really four
times that Gf the rebels. Looking to the
increa,e, we find that the decennial in
crease was l27 per cent, AMI the annual
increase l2.1; SO that the four years. from
1860 to 1861. gives an increase Of so per
cent. ap f
On this basis, the actual wealth of the
Loyal States and Territories; on the 1st
of July. 1864. would be sirteen thousasd
sir hundred miitions Of dollars (Sl6. .600.-
UUO. .O0O). equal to that OF the entire ma.
tion in 1850.
But some one may say that the condi.
tion of war has Diminished the increase of
wealth. Some consideration will make il
evident that this, if this is true at all, is
only in very moderate degree. War
prices are always high prices. and high
prices--such high prices as we now have
stimulate production TO vast extent
The farmer manages somehow TO SOW as
many acres and reap as large harvests as
ever, and we not only feed our armies and
home population, but continue to feed a
go,d part of Europe besides. But lei us
look at some otbes considerations: l.
With the exception of Tennessee and Mis-.
souri,. the loyal country has fell none ofthe
destruction Of rar. l. A large part OF the
increase OF wealth was due to immigration.
and that continues as large as ever, and
goes exclusively to the Loyal States. 3.
The production Of the gold and silver
mines is far greater than it was in 1861
4. A large proportion of the increase is in
the new States and Territories, which are
still increasing very rsp'dly. 5. All the
payments OF the war are made to our own
people. and. with the exception of wastage,
the ecdr has drained no meauh from the
country. at
But suppose our national wealth does
MT increase as rapidly as in time Of peace,
the gain is undoabtedly sufficiently great