New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1864-10-27
Our National Debt.

ting the Rc bel Shareholders boast Of triumnb ovo-
Notion, We present the foo' ing compi1fiop 81 a.,
bearing the subject nom spcech in the Uor,a
Representatives by Hon. JAMES c. blame OF Maine
who says; "''
AT the Reorganization Of our Government IN ,,Oo
The entire population fee md slave was under Fon,
Millions scattered along TIE seaboard sron tho 81 Gu
to the 81. Marys hot fifty thcnsand m ali LIVING o
hundred miles distant ffo the TOW Of the Atlantic tide
Facilities 10Y intercomm ll'cG.ioa were greatly "a
stroted manufactures and tie e-ts were in fesa in
fancy agriculture was rude and not highly remuner1
tive, becalsc commerce It's hardnad, was anRrshin,
and waiting 20 be qgickeued to enterprise and yir,s
The tire Violation CT the thirteen States aceori
the weight OF authority. did net exceed ak hundred nil
Ion dollarsthree hdDdred million less than the value
ton q Massachusetts, today and not one-ha 20 etet
as taat Of Pennsylvania. Property at that time was
~ adapted 10 bear taxation: prOis wcre small and "a
the political economist, measuring the condition and
capacity Of the country it seemed utterly unable "a
carry debt Of any considerable magnitude And We,
our ancestors did not hesitate 10 the burden o;
nnDty million dolal5noTe than Ons.seYenh Of all ths
property they Owned. Mr.. Jefferson who was the nos,
distustil u oil the statcsmcn Of lba. day in regard
70 the ability u the nation To- snssin the load was VET
willing 10 say that it could DO easily borne II our annual
increase Of population and property could maintain az
average Of fre per oeRfthen the most sangaiDe est
mate which any dared place the future growth
of the country. Had realized on.y the ratio Of in
assumed By Mr. Jefferson population IL leo
would bnve been fifteen instead Of thiIty-one nil.
lons, and wealth 60 100 100000 instead OF $1,000.
10000. Upoa air. Jciicrsons assumed basis Of IN.
crease The debt would never saye BEEN pplasSye but
/
paid the interest on the dabt ind accumulated fund
for 10 redemption with such that tie people never
iet they were taxed. And yet hope 10 show that
than the debt which our Revolutionary fathers thus as
snea' ana proceeded esIiy and 80 easily 10 dis
charge.
Look also AZ the case Of Great Britain. At tho
close Of her gigantic struggle with Napoleon in ISIS
the national debt OF that kingdom Amounted 20 as6l.
coo go Sgeriug or JoTtydree hundred millions Of DOL
laySj and Ur reader comparison sLall speak Of her
4 Iva On In "a,
liiOn at bat line less than twenty millions AID
the valuation Of al hef property auout niue thou
sand i've hundred million dollars. Sac owed, indeed,
nearly hell of oil that she possessed. Der Population
was less than two.rh:rds Of what is today.
Her entire property was not thee its OF VIVA.
was by The census VI 1850 while Aei debt was eign
hpidr Ki0rs o. dollars greater than 0erS viii be IN
JAN res And in contracting tss debs she was con-
% I'D sell her bonds at the Cn0rrous sacrifice.
From - 20 sl5 CT debt as ilc-cased S3.00Ol00o0
aid ycL A. exchange for this amount OF bonds she
crivoi rrrer bit S7D, 10000 thls submitting toa
disc,ua- OF i,1OtoQo p IN ot.eT words. England, dur
ing 49, tscI. izlv ars " - t1e4tGl war. only real
led ~ N eferree =. III who Iiod, 500 IN Lloaey
in exchange T $ IS u; -e naacs. This, be IL rcnen.
hesei, he average Tor aeN ol, Zine. AS the con-
test waXed desperate aes sac ic' 1eeaioe desperate
IN proportion and me S, '.fich enabled her fight
/ the decisive oampaica o! W. ROC WIS obtained ~
selling her bonds 70 the E.f pan ans2Is 4t less t1aa
Gfy cents The dollar. Gu p1 3d Ni.h ms OFT 'ac
rihcos On our national sccu.4tes itS m Pave 0een
light. not averaging from INC ir'e i1n OF re var 20
the present day. th oil eiemeHis'f oN9chOpIe LILY
estimated. more than FROM TWEEN o twenty-five pr
cent rcckCncd III the gold basis.
- D meet their enormous deDt the EiitHf peof.e at
nOtbg bat the cOmMerca, aHo Industrial resources *
tho United Kingdom whose Whole area is not double
that Of the single State OF Missouri They Gaa popa
aton Of nut twenty millions IS already stated. subject
10 no Increase from immigration anc growing IN hss
century 10 more ,haG ye have added during tas ias
decade. And yet on this restricted area tAe enterprise
and energy VI tie British people nave Increased yer
property until il valued at n1Tyt,f n0asdad moas
II dollars; and IN dehiree Of The large expeLanaso
resulting from geveTs costly wars since IT'D the have
oetual reduced their debt three hundred millions
o. dollars Their steady progress N wealth under tter
large debt IS comprehedei In the statement thes ne
average property per capita IN slj was less than 'e
huDdla dollars end IN l-Gl ebocf eleven hundred 1oi-
lars In lslj some twenty-five per cent OF vi the carr
inrs and income " the people was absorbed IN ta oa
and IN l-fi Css thar ten per cent was taken iDs we
object IN sl5 thu proportion Of taIs per lsia
FOR the whole people exceedet feveAteeh uoiIs anu III
/ leGl 10 LAD fsl.en below ten dollars.
~ asta & b aa f.FP sses sa0E y sGy y
con-ideraho extent becomes relatively lighter by th9
increased capacity TO bear Il. Tho we1ah per capita
of The entire population IN period o. ortysx years
ha uore ticn doubled; the aggregate property o. ne
rain hfs fnorp han trebe'; ana ah tns on .xed
AREA ~ one hundred and tweriy Thousand square niles.
and with 20 JgGt.0n igcrsla, a. he SLOW rae ~ ony
one per soat per IL sach results can be wfnag1t
ont by a kindred people ssanSt srch obstacles -ai
hiRdcrances what may We not nope u scen psl uleeF
the aHspcious circumstances hat surround our oTa
nationi
been e!ancng at we Inay clearly read cur o%n gress
future IL Is not indeed mst,er 81 surnnse or speel-
ation query bu of weli-founded nd condent ca.eu-
/ latior--a calculation which. Bowrfer siigune -
made will hive lis only error IN falling short OF results
actually to be realized The war closing IN JAY ROB
| Vill leave US in this condition. ration numc2fls
some thirty three million people, owning over s.4l.e1
thousand millions OF property, and ccrAihs 90. w
ssry. Ere hugaTsd millions ~ d2ttcrs i1e pop DN
between debt end property viii he JUST apout .Ae sse
thrt IL was when thc Union was formed Whle tur 4ec
q hal
OF Agricultural manufacturing. and oomnefcHh ~
Suits gives the present generation M ad'lhas taS
renders Il far loss Drrielsomc az fhe Vey outs -
II TIE revolutionary d.bt became II very OIle' FI
eoli,ht as Ia be uun0tlccG, why may we lot WIN
vastly accelerated ratlO OF progress assume s''l-.
ausDicinus result with regard % ne deVt We W. u
o0niraotingf Were our future 9d' ates III W ~ -
pounlai ION 10 hc no rupd than Great 'f!-N "'
tesn since lsi we shond 20 the close oi ne 9e,' 10y
tarv have population of for'y.dye Billions SONS ~,
property amounting 20 Gfy n0ssord nls.ons g a,.,:
Even upon Tho ra-o of progress our en,ge 49,. ~
cease TO be lc.t as q burden but upon t.e i.Vi'-. -,
populton and development Of Nclth 20 Dc 50 ssse.
Y snfioipated the debt would b small in
With the total resources Of the Patton as 10 $3.50
,rfriy incnrsilerahie Ii us look at the ngaf's
"Accorlinr TO the estimates made IN ioei'po4 " ~
eighth consus, and made with gren' e.'o ", IN
loompiate data our popniation W W a., ,,,rv
J.. ,nc lrnlrel lions The properly u ihe o0'A"S
t,,;,., a.. LAST decade increased cAe hunulf. az
twenty six per cent, our agcre2 IT W si'h N ~ -
inc a trite over scrsa faousdhe hitirfNs9 1871 = ~ -
is,7p e~ccoling sirfccn thousand hsA!oRs. SOM -
80. 'rbibsd an amost flbrlous prugTess-io"n 10
b;6est n rstlo gaining nine hundred ard lof E
r,rt or nearly hundred per cent peg H""u.. -
|,,s,-aie NOT ar behind heI. making gain o! rtIs
snnSred and tlirty-ogbt per cent, the aYaiage q -
fbe States being rs have already ed enc , aa
i,h Ss Nm, Ten wears WIS thus absolutely larger VA.
ttst lad hecn accumulated in Che country iroA ".
.e,,emept OF jamestown ard Plymouth down 10 il'
wear $50. We can hardl! hope 10 MAINTAIN tns slv,
- ,,nrb less Than the average of the past ~o1;-
wsuia igstlfy 10 say that property VII laef.s'S IS
Sonhie the ratio OF our population From To- ~ -
ton imcrcased In all about seven hundf,1 ~