, 1864-05-04
and men of businGss almost unanimousl
pronounced TINT the fatal day had now really

and men OF bueiu1ss almost unanimously
pronounced thnt the fatal day had now really
come
The attempt to lay portion of the load
on the American colonies produced another
war. That war left us with an additional
hundred millions Of debt, and without the
colonies whose help had been represented as
Indispensable. Agaiu England was given
over, and again the strange patient persisted
In becoming stronger aud more blooming IN
spite Of nll the diagnostics and prognos1ies
Of state physicians As she had been visibly
more prosperous with . debt OF one hun
drcd and forty millions than with debt Of
fifty millions, 20 she was Tisi1ly moro pros
porous y ith debt of two hundred and forty
millions than with debt Of one hundred aud
forty millions. Soon, however, tho wars
which ep1aDg from the French revolution,
world had ever seen, tssked the powers Of
public credit to the utmost When thrworld
YVES again at rest, the funded debt Of England
amounted to eight hundred millions. It the
most enlightened man had been told, Ia 1892,
that In 1915, the interest. on eight hundred
millions would be duly paid to the day at tue
bank. he would have been as hard of belief
rs If be bad been told that the Government
would be in possession Of the lamp of Alad-
din or Of the purse Of Fortun1tus. It was
In truth gigantic, q fabulous debt; and we
can hardly wonder that tile cry of despair
should have been louder than ever. But
again that cry was found to have been as un-
hnnsttou, England recovered herself Yet,
like A1ludin's valetudiDarian, who continued
to wlfmper that be was dying OF consump-
tion tin be became SO int that be uas shamed
into silence, she went on complaining that
she WAS sunk In poverty Til her wealth
complaints ridiculous. The beggared, the
bankrupt society not only proved able to
meet all its obligations, but, while meeting
those obligations, grew richer and richer SO
fast that her growth could almost be dlscov-
cred by the eye.
1t every county VIC saw wastes recently
turned Into gardens; in every city We saw
streets, and squares, and markets, more brill
liant lamps, more abundant supplies of wa
ter; in the suburbs Of every great seat Of In
dustry, we saw villas multiplying fast, each
es pS IN S WG fa s shP% PaFsS aan Of M
were repeating that the energies Of tue peo.
pie were more borne down BY the weight Of
public burdens, the first journey was per-
formed by steam on railway. Soon the
island was intersectcd by railways. A sum
exceeding the whole amount OF tie national
few yeare, voluntarily expended by the ruin
cd people in viadncts, tunnels, embank-
mente, bridges, stations, engines. Mean
while taxation Was 8lmost constantly be-
coming lighter and lighter; yet still sthe ex~
chcquer was full. Il may be now affirmed
without fear Of contradiction, that we find it
As easy to pay the interest of $500, ,003 600 rs
our ancestors found it, 90 years ago, TO pay
the interest OF $So, GOO 900.
Let those who 60 about the streets croak-
ing evil representations concerning the fu-
ture Of this country, read, reflect, and In
wardly digest the foregoing. If little
island no largtr than Illinois and Indiana
can support debt of four thousand millions,
and grow rapidly rich and fat while doing 80,
how largc debt will 1t take to impoverish
and crush the American Republic, that will
soon embrace whole continent. We turn
over the problem to the Copperheads to
CIPHER out, and would like to see their
figures.