The star of the north. [volume] (Bloomsburg, Pa.) 1849-1866, 1864-02-17
The Cost Of Civil War.

The Secretary Of the Treasury has an
nounced that for the future he mus. resort
10 loans TO carry on The war. Let rs see
how this will work.
To osuppor the army aud to carry on the
Governmeut il is computed that two mil.
lion dollars are needed for every twenty
four hours. Mr. Chase goes to his ''natiou.
ai banks" or to other banks that are not
national, and gets from them loan of one
hundred million dollars in their paper or in
sreenbacks. This paper in the market is
worth about sixfy-two cents on the dollar
He has issued Government bonds for one
hundred million dollars payable at The end
OF twenty years, al six per cent per an-
mum. At The end OF twenty years the
Government, fit promptly pays its interest,
will have paid 10 the pet banks Of Mr. Chase
one hundred and twenty million dollars. and
viii then have to pay The one hundred
millions the bond calls for. Thus, on the
loan OF one hundred millions, for which
the Government only received paper worth
At The marker raie, sixty.two millions, the
Treasury will be forced TO pay two hundred
and twenty millions, and this for The pleas
ufe OF carrying on the war bu, for the space
Of Efiy days
Snch will be the effect of carrying on the
war with loans. Every seventeen years
the interest is greater than The principal
and when the loan, as is the case now.
must be received in paper promises depre-
ciaied 10 more than one third, The loss is
such that 10 country on earth could stand il
without bankruptcy.
II Dir. Chase intends 10 carry on the war
by taxation, the ruin will be changed from
The Government 10 the people. Properly
cannot stand such taxation as the wants OF
the Treasury require; and if this plan be
put into successful operation, within one
year The poorest men in The country will
be those who own most properly; the rich-
est those who own none whatever, for al
though they are liable to conseripfion, We,
they are not liable to taxation, for they
have nothing 10 lax.
In either event. how The war is to be con-
d0eisd another year, with such lavish ex.
pendiiures. is a problem that we cannot
solve, without eniailing ruin on the people,
or bankruptcy 10 the country. The debt
will, BY that lime, be so great that repudia.
ton and consequent disgrace mBst be the
inevitable consequence. Yet there are
those among "a whose interest is TO contin-
ne the present work OF desolaiion and death.
who cry out for sliI more vigorous prose.
cntion Of The war, thus Fastening the time
when the Republic and its citizens will be
buried in the same financial ruin.
Within less than three years, from being
the most prosperous people that ever eraced
the earih-ihe freesi from national taxation
1.-The freesi in action, boasiing with truth of
our free speech and our untTammeIed press
Ne have sunk so low in onr national char.
scier that there is none 50 poor as TO DO US
reverence. Free speech has been denoun.
ced as . crime, and even free thought The
President of the United States has pro-
claimed 10 be akin to treason. A free press
no longer dare exist where the Admins
tration has bayonets or mobs TO pat j,
down and to those are now added utter
ruin financially as We have utter ruin po-
lisicaIIy and still the vampires who have
sucked ihs lie blood oul of ihe nation,
who have swindled the Government and
robbed the soldier, have irampied the Con.
siisuiion under foot and severed the Union,
dsnouncs all as traitors, copperheads, ETC.,
who wish for Peace, in the hope that il
may possibly save the country and save
;hs people.