The Lancaster gazette. [volume] (Lancaster, Ohio) 1863-1886, 1864-06-09
q -rt,, From the New iorker.) P,
THE FUTURE OF OUR NATIONAL
.tflF tIt.N DEBIT

THE FUTURE OF OUR NATIONAL
.ttif DEBT.
Many careful and prudent men look
upon the increase of our national debt
withsome foreboding, Let us exam
inc the whole subject fairly and see if
we are not only able to pay our pres
ent, but any reasonable further debt
that the exigencies of war may compel
us to incur, and that the payment will
neither be difficult or excessively
oherous Letus see whatare the facts.
Unlike an individual who is unable
to count with ccrtginty upon increased
ability to pay in the future the debt
he contracts in the prcsent--this coun-
try is sure to increase in wealth and
population, 1t appears from the cen
sls returns, that the increase in the
value of real and personal property in
tho United States from 1910 to 1850,
was from three thousand seven hun
dred and sixty-iour millions (3,7G4,-
00G,000) in 1910 to six thousand one
hundred and scvcnty-four millions
(6,174 ,0O0,0 ,0OO) in 1850, or GA per cent
The next decade shows still greater
advance in prosperity and riches. Fol-
in that period, the yield of our gold
mines, the extension Of our, railroad
system and consequent opening of new
fields for agriculture, our large immi
grafton, and the stimulus given to ev.
cry branch of manufactures and tho
mechanic arts raised the nationa
wealth from six thousand one hundred
and seventy four millions 6,174,OO0,
O0O) in 1850, to the enormous aggre
gate of fourteen thousand one hundred
and eighty-three millions "a, ,l83, 900,
00O) in 1860, or 127 per cent, OF whicl
ton thousand seven hundred and six
Itcen millions (s10,7lG,OO0, ,0O0) wd'
0tthcd in the loyal States. is there an!
good reason 10 believe that we shal
not continue as we have dOne-(eX
cept from the chances of war, whicl
can only modify and not. change tn
character Of the answer to the quos
, tion)-that the nation will not con
, tinue to nearly, if not quite, double it
, wealth every ten years ior several de
, cadcs to come. We have but Just be
q,,n to work our mines, and the vas
a body of our other mineral is still un
, developed. We have fertile land
enough for an empire, that tho plov
3 has never touched, and it is only ii
8 this generation that science and al
c have fairly begun TO open the doors
: and show the way towards our futur
;, material greatness. .d 'e.
=. But experience of what others hav
G Idaue.- will best tell us what we ma
c rightfully expect to do. Let us con
4 pare our position with that of Gre;
@ Britain during one of the gloomie'
= periods of her financial history. A
c the end of her great wars in 1876, he
n wealth was estimated at ten thousan
0 four hundred millions 10,400 900, ,OOC
j. and her national debt of that time Wa
It four thousand three hundred millioi
,, (4,30O, ,O0O 00O) or more than Al p'
If cent. of her entire property. In le6
/" her property was stated at thif(y-or
J. thousand Ave hundred millions Obi
|, 5OO,OOO) while her debt was thr,
Is thousand eight hundred and ninet
% millions (3,S90, 900, ,OO0) or wasa chars
!. on the property Of the country of onI
J. about 12B per cent. 1t needs no arg.
q ment to slow that the treiyht of Il
Is burden of this debt is now, but on
third what it was when contracted.
.y. We do not wish to deceive on
II selves on either side Of the qucstio
Debt is always bad enough, but v
Of should look the facts squarcly in Il
D. face, and accept whatever dcductiol
v VIC have n right to draw from them
=, truth. in spite of the war, we belle
Y. the Northern States are rs rich to-df
e. as they were three years ago. Such
r. demand for labor was never knownb
!. fore, and never before was it so We
rs paid. .la War destroys, but oar hand
" industry has never for a NONE
[ ceased TO create, and the creation W
8 moro than balance the destructio
I'D Large as our losses Of brave and q
r liant men have been, the population
d. the. country has steadily increased
o. and unless some scourge, such as nev
a visited nation should come upon
IN unless We should be utterly d.
d. troyed, or dismembered and broken
r pieces by yielding to this demon
w. secession there is no human pow
ms that can arrest our continued progr'
q ., and development. All wnrshore end
1t as will ours let s'hope thatit m
a be soon; but when it is ended, a
Ii. triumphantly as it must be, this cou
a. try is bound TO take position in pc
i'll ulation,, wealth, and vigor, that W
m mako its debtso small in proportion
en- its wealth, that the most timid man W
o. laugh au the fear that may have on
vvcr-cloudcd his vision. M
=, 'l Important to Hundred Day MEN,
"' The following highly importu
ps "Circular Letter was ycstecday J
n