Marshall County Republican. (Plymouth, Ind.) 1856-1878, 1864-05-26

Thursday, May 26, 1864.
The Future Of or N ational Debt.
e Many careful AMI prudent men. remarks
She New. Yorker. lsok upon the increase
of our national debt with some fosebodiag.
Lat US examine the whole subject fairly an
sc If we are not only able to pay our pres
eat, bat any RESPONSIBLE further debt that the
exisencios OF war MAJ compel Us to incur.
and that the payment will neither be diff
cult OF excessively oncrous. Let us see
what are the facts. Unlike an individual
who Is unable to conn. with certainty up
on increased ab ility to pay in the future
shs debt that he contracts in the present
this country is suro to increase in wealth
snI population. 1t appears from the CEN
sas returns. that the increase in the value
of real and personal property in the Uni
tod States from 1910 to 1850. MAS from
three thousand seven hundred and sixty
four millions (s3.764.000. 000) in 1910
to six thousand one hundred and seventy
four millions Csc. III. 0O0. OOO) in. 1850.
or 81 per cent. The next decade shows q
still greater advance in general prosperity
and riches. For in that eriod, the yield
OF our gold mines, the extension of our
railroad system and the consequent open
ing of new fields for agriculture, our large
immigration. and the stimulous of mechan.
ic arts raised the national wealth from six
thousand one hundred and seventy -four
millions (s6. Ia. 000. 000) in ls5Vto the
enormous aggregate of fourteen thousand
one hundred and eighty three millions
(e14.1S 600. 000) in 1860. or l27 per
cent, of which ten thousand seven hundred
and sixteen millions fs10,7l6. 900, 600
ras o,ened M tie loyal States. Is there
any good reason to- believe that We shall
not continue to prosper IS we have done
-(except from the chances of war, which
can only modify and not change the char
scter of the answer to thsquesticn, ethat
the nation will no. continue to nearly, il
not quite, double its wealth every ten
years for several decades to come? We
have but just 6sgun to work our gold
mines. and the vast body of our mineral
wealth is still undeveloped. We have
fertile lands enough for an empire. that
the pillow has never touched. and it is only
IN this generation that science and art
hare fairly begun to open the doors, and
show thsway towards eur future material
greatness. ~s-4
Bot experience Of what others have done
viii best tell US what we may rightfully
expect to DO. Let us compare our posi-
ton with that of Great Britain during
one OF the gloomisst periods of Der finan-
eisa history. at the end of her great wars
IN fSl6. her wealth was estim ated at ten
thousand four hundred millions 1910, 400,
coo. 0O0) and her national debt of tina,
time was four thousand three hundred mil
lions ga. SEQ. 0O0. 00O) or more than Al
pr cent. of her entire property. In 1861
her property was stated at thirty-one thou.
ssna five hundred millions fS3l. 900, 900
OO0) while her debt was three thousand
eight hundred and ninety millions (s3..
S9e. 0OO. 000) or was charge on the prop
ssty of the country of only about 12A pei
cent. 1t needs no argument to show thai
the srsighr of the burden of this debt i.
now. but one third what it was when con.
tractei. se4a.sf .,sf0
We do not with to deceive ourselves OF
either side Of this question. Debt is al
ways bad enough but we should look tn,
facts squarely in the face. and accept what
ever deductions we have right 70 draw
from them as truth. In spite of war, we
believe the Northern States are as rich to
day as they were three years ago. Such q
demand for labor was never before known
and never before was it so we'll paid
War destroys, but our hand Of industr.
has never for moment ceased to create
and the creation will more than balanc,
the destru ctioa. Large as our losses o
brave and gallant men may have been, IL,
population of the country has steadily in
creased. and unless some scourge such Is
never visited nation should como spor
us.-unless We should be utterly destroyed
or dismembered and broken to pieces b,
yielding to tbis,d demon Of secession, --ther
is no human power thai can arrest oul
progress and development. ell war
hare ended IS will ours. Let rs hope tha
it may be soon; but when 1t is ended, ant
triumphantly as it must be. this countr,
is bound to take position in population
wealth. and vigor that viii make its deb
80 small in proportion to its wealth tina
the most timid man will laugh at the fes
that may have osss ever-clouded bis Wis
len. cir LA +.
LArry.-The Copperhead papers OF lat
Il