The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1864-06-03
rFrom the New Yorker. !

The Future ofOur Nasiomal Debt.
Many careful and prudent men look
upon the increase of our national debt
with some foreboding. Let us examine
the whole subject fairly aud see il we
are not only able to pay our present. bat
any reasonable further debt that exigen-
cies of wal may compel us to incur, and
that the payment will neither be difficult
or excessively onerous. Let US see what
are the facts. Unlike an individual 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
popnlotion. 1t appears from the census
returns that the increase in the value of
real and personal property in the united
States, from 1910 to 1850, was from three
thousand seven hundred and sixty-four
millions (s3, 764, 600, 0oO) in 1910 to six
thousand one hundred aud -sevehty-four
CSC, l74,oo0 ,O00) in 1850, or sixty -four
per cent. The next decade shows d still
greater advance in general prosperity and
riches. For in that period, the yield Of
our gold mines. the extension of onr rail-
road system and consequent opening OF
new fields for agriculture, our large i'm
migration, and thestimulus given to every
branch of manufactures and the mechanic
arts raised the national wealth from six
thoustnd one hundred and seventy -four
millions (S6.l74.000.0 00) in 1850 TO
the enormous aggregregate of fourteen
thousand one hundred aud eighty three
millions 4,l83, 100000 in 1850, or
121 per cent, of which ten thousand
seven hundred and sixteen millions SlO,-
$4,000, COO was owned in the loyal
States. Is there any good reason to be-
lIeve that we shall not continue to pros
per As We have done--( except from the
chances of war, which can only modify
and not change the character of the an.
swer to the question, that the nation
will not continue TO nearly, if not quite,
double it's wealth every ten years for sew
eral decades to Gomez We have but Just
begun to work our gold mines, and the
vast body OF our other mineral wealth
is still undeveloped. We have fertile
lands enough for an empire, that the pillow
has never touched. and it is only in tn;
generation that science and art have fairly
begun to open the doors, and show the
way towards our future material great
ness. A re stN a @'~
But experience of what Others have
done will best tell Us what We may right
fully expect to do Let US compare our
position With that OF Great Britain during
one OF the gioomiest periods of her fnan-
cal history. AT the end of her great
wars In 1916, her wealth was estimated at
ten thousand four hundred millions
(si0, 400 coo, GOO aud her national debt
OF that Zine was four thousand three hum
bred millions (s4,soU, oUo, 0Uo) OF more
thsn 4 per cent, of her entire property.
liz 1861 her property was stated at thirty
one thousand five hundred millions ($3i,-
300, 1000. 000) while her debt, was three
thousand eight hundred and ninety mil
lions 6, 500, O0o, 600 or was charge on
the country of only about l2J par cent
1t needs no argument TO show that the
weight of the burden Of this debt is now,
but one-third what it was when contrao-
ter ~ 4lss issss f.. ssr. IS ssssasss-
We do not wish to deceive ourselves
on either side of this question. Debt is
always bad enough; but We shouId look
the facts squareiy in the face, and accspt
Whatever Deductions We have right to
draw from them as truth. In spite Of
the war, We believe the Northern States
are as rich to. day as they were three yea -
ago. Such demand forlabor wac never
before known, and never before was il SO
we'll paid. War destroys, bntl our hand
OF industry has never fer n nlu-nent ceased
to create, and the creation viii mote a,s .
balance the destruction.
Large as our losses of brave and gsiian,
men have been, the population of the
country has steadily increasea; aad IN
less some scourge such as has never spis-
tied nation should come upon ps--un.
less we should be utterly destroyed %,
dlsmembered and broken to pieces B,
yielding to this demon Of secsssion-
there is no human power that cAa assss
our coatiaued progress ssd development
All wars hare ended, as will ours. L.
us hope that it may be soon. But wheI
1t is ended, and triumphsntly, . IL mos
De- tins country is bound to take pos
HON In population, wealth and vigpr thu
Will makesits debt 30 small IN pfuportiol
to It's wealth, that the most tiuiid IA,
will laugh at the fear that NAV have ono,
over-e'9pded hls v.s'eas