The daily clarion. [volume] (Meridian, Miss.) 1863-1866, 1864-10-28
a75,ooo,oso

/ Making an aggregate oil $l,5Io,O0O,O0O
/ Inthis amount is included $3.50, 900, 900
of per cent bonds, to be issued in place
of like amount of old currency, funded
under the act of Feb. l7th, 1861; but q
considerable portion of this sum will be
returned into the Treasury under the tax
actor, i'll other words, the whole sum
produced by the taxation OF the pr sent
/ year will be applicable TO tho reduction
of this aggregate Of .1,575,000 600. Let
q liberal allowance, however, be made for
the opposite contingencies, and let the
debt on the first January, 1865 be set
doEn in round numbers at 81, 500 900, 900.
Let the war be supposed TO continue, and
in its progress add 100000, 900 to the
national debt, making the aggregate final-
" 81, ,000, 900, 900. This wou.,. entail upon
US an annual interest Of $l40,0 i0,G0O.
Why should our ability To bear this
burthen BE doubtedf Before this war it
was alleged land, in my opinion,
with great TRUTH that sum fully IS
great as this was annually paid in tlibute
to the erthern States. Why should it
not be paid TO ouroWn Government, by
whom It will be returned to us in the
pay .aent of interest?
It may be supposed by some that the
magnitude of the debt, in proportion to
our property, may lead to general insol-
vency and bankruptcy. Let ns examine
the grounds OF this possible apprehension.
If planter, whose properly before tho
war, was worth $I00,00 sell, during its
progress, wheat, corn, etc., to the value
of 100000, and take Government bonds
for the amount, how does lie incur the
risk Of being ruinedi And what is true
Of one citizen in this respect, or of one
class, is equally true OF the whole COM
munity.
The alarm must arise from fnattention
to the important consideration, that we
are selling to the Government, year by
year, only the surplus Of. our annual pro-
ductions. ~ PSI
There is one way, however, in which |
the debt may be made Oppressive, a. the
following transactions will show - The !
Government paid, on one occasion, $780,
600 for certain supplies; and t.-s party
who received this sum bought with il,
from foreigner, $l5,000i in gol, deliy-d
er,b Bic in England. With the 100000
thus obtained, the foreigner then bought4
an equal amount Of GoFerment bonds,
z per cent per annum interest.
1t foIIoTa, that st the end of this var,
for 5 e. 1000 thus acquired ~ tiis citizen.
he Governrnent will owe debt Of $780,
DQ0. -. - "A = = f4rr 5at-ss
The citizen will receive, annually.
y .O50 interest The Goyernlent /, will pay,
$2l eco. Had he. On the con
lrafy. bought The bonds himself, the
/, 900 sunuallx paid by theGpEernment
sonid have beef received ~ one OF It's
jwh ciiizsna, =. q The country - q Wh0les !.
rob IA have been neither richnr nor poorer.
woold earnestly imprsss upon yonr con-
that Hhsn IL aotd through all
weir Earious .ramiacafionss this il a last
he uniform resnlt Of every cNse IN which
upplics arr s0ld 10 The 6oFernmeats and
,ro,,arty Of any .descriPtionis Il bought with II
hemoney, 20 the exclusion Of GOEsrn- {
nent securities. ~ rrtngzrs l-fl at
II should be borne in mind that we q
ave now no commsTeial class IN the {
ountry that the banks have a irniited :
apitAl Of about se0, ,ooa 900. and beyond Il
his sum have no power 70 purchase voT- Ec
unaens bonds. The great mAs Of eur 4