The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1864-06-24
"HE FUTuaE oF Oun NATIONAL

Many careful and prudent men
ook upon the Increase Of our nation
Il debt with some forcboding let
rs examine tlie whole subject fairly
md see five arc not only able TO pay
pur present, but any reasonable fur
thor debt that the oxigencics of war
may compel us to incur and that the
payment will neither be difficult or
onerous Let us see
what nre Tie facts. Unlike an indi.
vi,lual Who is unable to count with
certainty upon increased ability to
pay in the future the debt he contracts
in the present--this country Is sure,
to increase in wealth and population.
Il appears from the census returns,
that the increase in the value of real
and personal property in the United
States from 1S40 to 1850, was from
three thousand seven hundred and
sixty. four millions g, ,ISl, ,00Q, 600 } in
1910 to six thousand oAe hundred
and scventy.fcnr millions (G,1I4,00O,
.000) in 1850, or ga per cont The
next decade shav a still greater al,
vance in general prosperity anil rich
as. For in that period, she yield Of
onr gold mines, the extension Of our
railroad system and consequent open
ing Of new fields OF agriculture. ana
the atimulus given, to. every branch
af manufactures and the mechanic
arts raised tho national wealth from
six thousand one hundred and seven.
I ty- fone ,a8h9ns (S&1T4,0oo, ,0a9) in
1880 to the enormous aggcgate oi
fourteen thousand one hundred and
eighty three millions tSl4,1s3,0oo,.
900 | in 1850, or 12T per cent of which
ten Thousand seven hundred and six.
teen millions tS10,1ls,e9O,o 900 was
owned in the loyal States. Is there
any good reason I. believe that We
shall not continue to prosper as We
have done--[except from She ehsu
ges of war, which can only modify
aad not change she character OF tho
answer TO the question. that the na
tion will not continue to, nearly, Il
not quite, double us weunu every e,s
years for several decades to come
I'VE have but just begun to work ON
Igold mines, and tue vast body Of oul
other mineral wealth is still undevel
, oped. We have fertile lands enough
for an empire, that the plow has nev
cr touched, and it is only in this gen
Grafton that science and art hav'
fairly begun to open the doors, ant
!, show the way towards our future ma
: terisl greatness.
4 But experience Of what others hav'
ldonc will best tell us what we ma,
rightrully expect to do. Let us com
pare our position with that of Grca
|; BritaM during one Of the gloomies
periods of her financial history. A
I the end Of her great wars IN 1916
her wealth was estimated at ten thous
and four hundred millions SO, 400,
) 900, ,o00] and her national debt OF tina
+ time was four hundred millions SO,
400, 600, 600 and her national deb
of that time was four thousand three
hundred millions ia, 30o,O0O,OoO o
moro than 4 Il per cent of entire prop
erty. In 1861 her entire propert!
was stated at thirty one thousanC
five hundred millions (S3l, 800, 200,
000l while her debt was three thouS
= and eight hundred and ninety mil
lions (S3, 800, 200, ,000) or Was charg
l on the property of the country of on
ly about 125 per cent. 1t needs II
argument to show that the weight Q
G the burden Of this debt ls now bu
, ono third what it was when contract
ed.
We do not wish To deceive our
, selves ON either side of this question
Debt is always bad enough, but W
2 should look the facts squarely in th
e face, and accept whatever deduction
we have right to draw from them Il
t truth In spite Of the war, we he
4 lcye the Northern States are as ric
!. TO day as they were three years age
G Such n demand for labor was neye
It before known, and never before wa
g it so we'll paid. War destroys, bt
v our hand of industry has never for
moment ceased 10 create. and the ere
alton will more than balance the dies
uuction. Large as our losses
. brave and gallant men hay G been, tn
lnonnloti In, tf tho catIutry has Stea(