The Burlington weekly hawk-eye. [volume] (Burlington [Iowa]) 1860-1876, 1864-11-12
The DAILY Debt Covered ~ Daily


The DAILY Debt Covered ~ Daily
Profits. -
4 The question next to the higheot- SEQ.
ond only 70 the actual question Of military
strength n the fields whethDf We c4n
tbear tho 2lgantic strain Of the war on thu
i financial resources ofthe country. Can we
rsise tie ready money in loans that must
be raised; can We pay the interest on all
these loans, and give such security for al.
i fimafe payment ~ - secure the taking OF
i these loans At par? These questions, II
answered decisfvely In the Affirmative, de-
eide the whole issue Of the war. They al
in the elections, discour9Rtng many who
are really Unionists, but timid - to the
future. from coming out with their votes
to the aid of the candidates who alone rep
resent the cause OF the Union. They are
the cause Of direct opposition on the part
Of others who have been misled BY copper
head falseho0ds, and who really believe
the debt TO be three thousand millions, the
ldaily expenditure the three millions, and
the country already ruined in it, trade and
| its industry. The further mischief this be-
llief, that the loyal States are bankrupt,
causes abroad il almost beyond credible
Ity in its extent and in it, absurd:ty. #
we were dependent on foreign loans, or
were in any way heavy debtors to foreign
countries, the present state Of foreign opin-
| ion on this p0ilt would be great calami-
Ity; but happily we are neither. We do
not want more Of foreign money than Q
free will chooses to give us at par. Nor
have We any obligations to pay TO them
which ordinary trade does not easily pay,
aud more than pay. 80 IA .4s,i
las to the questions We. have stated here
in form, 1t IL strangely at varisnce with
| " lat was deemed reasonable opinion when
the war began. to see to what conclusions
actual history has already brought u.s.
Dealing with necessities fur beyond any
thing that the record az events in any
state Of modern timee has furnished prece-
dents for, We nave so far surmounted ev.
cry trial. We, have also maintained the
national credit 50 that the obligations is.
sued by the government are held with en-
tire confidence that their value u that
star ped on their face, And now the peo-
pie are either under gigantic delusion as
to those securities, and are receiving as val.
ues paper which represents nothing but =
deluded over-confdence, or else the coun-
try u on q firm basis Of real financial
strength and solvency. We claim that the
belief that pervades the great body Of peo-
pie in the loyal States is perfectly Just and
fully warranted. This confidence does not
rest on framework Of shams. It is In no
respect the erection Of zeal, and the crea-
ture, of fervid imagination. The predic-
tons Of ruin uttered By enemies abroad
and nj home are az baseless now As they
were when it was declared that no loan at
all could be taken by the free action VI the
people Of the loyal States, and that we
must sell the securities the government
bad to otter at the best terms we could
make to foreign bidders. 1t was thought
that we were about to equal Turkey OF
Greece in financial reputation; not wholly
destitute Of power to get money at all, yet
quite unable to get It 1t any rate reasonably
near to par. "a 49,. '4
The experience Of the past is directly
pertinent 70 the present because the origin
al requiremsnt,stlle exists, and the predic-
tions Of failure and ruin are oantinued.-l
Now there Is gigantic body Of securities
TO be effected, aIsO. and mass Of interests
involving the reserved wealth of the whole |
people. The conditions that effect the an
ancia position Of the country interest md |
involve every body, and if break occurs
which seriously compromises any purpose
now undertaken, 1t reacts on eyery result
previously reached. 1T is in 80 great q de- |
gree necessity now TO mAintsin the ma |
Tr1vRea