The Tiffin weekly tribune. (Tiffin, Ohio) 1859-1868, 1864-06-02
From the Now Yorker.
The Future Of our National Debt.

nc uIure OF our N0uonal DODV'
Many careful aud prudent men look
upon the increase OF our national debt
with some ioreboding. Let US examine
the whole subject fairly aud see it we
are not only able to pay our present, but
any reasonable further debt that the cx-
igencics Of war may compel US - incur,
and that the payment will n,ithcr be
difficult or excessively ouerous, Lit US
see what are the facts, Unlike an IN.
diyidual who Is unable to count with Ger.
tainiy upon increased ability 10 pay in
the future the debt he contracts IN ths
prcscnt--his cOuntry is sure 10 increase |
in wealth and population. II appears
from the census returns, that the increase /
in the value Of rca and personal property /
IN the United states irom 1870 to 1900, |
was from three thousand seven hundred |
aud sixty four millioSs (S3,76l, 900 ,0OO)
in 1910 to six thousand one hundred and
s'venty-cour millions CSC, liza 600 ,0OO) In
1850, or 81 per cent. The next decade
shows still greater advance in general
prosperity and riches. For in that Pc
riod, the yield Of our gold mines, the
extension Of our reilroad system aud con.
stpucnt opening OF new fields for agricul-
iurc, our large immigration, aud the stim.
ulus given 10 every branch OF manuluc-
turcS aud the mechanic arts raised the
national wealth from six thousand one
hundred and seventy. -four millions (S6,.
$4,000, O,OO0) in 1850 to the enormous
aggregate OF fourteen thousand one hun.
drcd aud cighty-thrcc millions (Sli,lS3,-
000,000) in 1860, or l27 per cent, Of
which ten Thousand seven hundred and
sixteen millions (S1O,7l6 900 ,OOU) was
orRed iR tie loyal States. Is there any
good reason to believe that we shall not
continue to prosper as we have dome
(cXccpt from the chances of " ar, which
can only modify aud not change the
character of the answer to the question:
that the nation will not continue to
nearly, If not quite, double its wealth
every ten ycurs Tor several decades To
comcl We have but just begun t. work
our gold mines, aud the vast body OF our
mineral wealth is still undcyelopcd.--
We have fertile lands enough Tor an en-
/ |pirc, that the plow has never touched,
and Il is only in this generation that sci.
cnce aud art haze fairly begun To open
our future material greatness.
But experience ofwhnt others have
done will best tell US what we may right.
fully expect to do. LIT us compare our
position with that one OF Great Britain
during one of tue a, nicst p, rluds of her
financial history. At the end of her
great wars in 1916, her wealth was csti-
mated 1t ten thousand four hundred mil.
lions (Si0 400 900 ,0O0) aud her national
debt ol that lime was four thousand three
hundred millions (Si,30o, 900 ,0OO) or
more than Al per cent. of her entire
property. In 1861 her property was
stated at thirty-one thousand iiyc hun.
drcn millions. (S3 800 900 ,000) while her
debt was three thousand eight hundred
and ninety millions(S3,S 800 900 0OO) or
was charge ON the properly of the
country OF only about l2iia per cent. 1t
needs no Argument 10 show that the
weight OF the burden of this debt is now
but one third what il was when contract.
cd.
We do not wish TO deceive ourscly cs
on either side of the question. Debt is
always bad enough but we should look
the facts squarcly in the face, aud ucccp,
what ever deductions we have Il ripbt 10
draw from them us truth. In spite Of the
war We believe the Northern States are
as rich to day as they were three years
ugo. Such II demand for labor was ncy-
or known, und never was il so well paid.
War destroys but our hand of industry
has never Tor moment ceased To create,
and the creation will more than balance
the destruction. Large us our losses of
brave aud gallant men have been, the
population of the country has steadily in.
rcused; aud un,css some scourgc such
as never visited nation should come up.
on us,-unless we should be- utterly des-
troyed, or dismembcred and broken 10
pieces by yielding to this demon of so.
cesson, there Is no human power that
can arrest our continued progress and
doy elopment. All wars have ended, as
will ours, Let us hope that it may be
soon; but when II is ended triumphantly
as it must be, this country is boand to
take position in population, wealth, and
vigor that with its debt so smnll in pro.
portion TO its wealth that the most timid
man will lough al the fear that may have
once over.clUudcd his vision.