Daily Ohio statesman. [volume] (Columbus, Ohio) 1855-1870, 1864-04-13
: y n N = = 4 Y -777T
TER ms.
ia7' 90 (MvARIABLY IN ADVANCED
+rHE ARCIIITECTs OF HUN
A Cry of Alarm from Adnninistra.
,fion Fnrtisnns.

IFrom the Albany, N. Y, Atlas 4 Argus Of Fridayl
The report of the Bank Committee of the
Assembly, protesting against the suicidal
In regard to the finances, Is not the only
sign that the partisans of the Administra-
tion are becoming alarmed!
The "Architects of Ruin" begin to fear
themselves lest they should be buried be-
meath the falling fragments of their own
terrible superstructure. Earnest as Is the
cry of the State Bankers, as heard through
the Committee of the Assembly, 1t Is not
the only voice that Is heard like an alarm
bell at night, rousing and warning the peo-
pie. .1.5d.tsi .dyg shl,.
The Eueaing Journal of last night has the
following, apparently from the pen of Mr..
Weed: ru
LEGISLATIVE ApPRogRIATIoNs.-W Without
questioning the importance of measures
before the Legislature involving large ap-
preparations. or impugning the motives OF
those who press these measures, we cannot
forbear to call upon the Representatives of
the people to remember how heavily they
are already burthened, and how much far
ther the war is likely to involve them.
For thirty years our debt-never exceed
ing 000-was the occasion of popu-
lar solicitude. Our elections hung and
turned upon the canal debt. Now, our ap-
preparations for the war, coupled with our
county, city and town bonded war debt, far
exceeds the canal debt. The present debt ot
this State reaches half or nearly hdlf of the
tchole Federal Government debt at the close OF
The scar of 1914. Superadd to this, a sixth
part of the war debt of the General Gov
ernment, (S4,000,000,000 for, close the war
to-day, and this sum would be below the
\
OUR STATE NEARLY Sl,OOO,O0 600
IN DEBT! -saJ
Think of this, Legislators, while you are
importuned to appropriate more millions.
Remember that pay day wiH come. All is
easy and smooth while paper mills and en-
gravers make "money plenty" But this
will not can not last. The delirium or in
toxication, of paper money, will go Off
and then, forced by financial laws which no
nation has ever been able to evade--we
must get sober and work out of an irredeem-
able currency and up to an arbitrary, inflex-
ible specie standard-then we shall see values
perishing and fort,n,es erdpordting-then zoe
shall realize, in gigantic proportions, the Jindn-
ctdI trials ,ohich zoe passed through after our
toar 10Th England. sa
Think Of this, too, taxpayers of New
York. One thousand million, of debt Is the
bndT6 OI NEW IOTh, IL buc MdT Wdo uOW
stopped! This Is two-thirds of the ag-
gregate value of all the property of the
people. The last valuation Of the State
was: I'D 4,ftfh t
peal Estate
Personal 'sfVooo<oo
Corrected aggregate. e...............$l,fs2,1 1IsO6S
The debt in fact, is about up to the full
value of the real estate Of all the people,
In; other words, our farmers have, during
all these "good times" been silently at
work mortgaging their property up to its
full amount and so 1t will pass down to
their children. And when the day Of gener-
al payment comes, the price Of real estate
will shrink, while the debt will expand
under the enormous interest which Is paid.
The State Of New York now owes debt
of one thousand millions, provided the war
is now stopped. But suppose it. does NOT
stop, but Is prolonged-is "made n per-
manent institution,N as Jim Lane would
have It. What then? Will the debt con-
tinue to swell, or will 1t burst and disap-
pear? Have the Architects Of Ruin plum
mets'long enough to sound the deep abyss,
and answer?