The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1864-09-24
TEE STRENGTH OF THE COUNTRY.
Wealth of the United statcs-Tbe National
Debt.

Debt.
The growth of the United States is the wonder
Of the world. Nothing like it is recorded in
authentic history. To foreign nations this growth
is known almost exclusively by the increase OF
our population, or the appearance of American
ships in their ports. But when we come to inves-
figate the ability of the nation to incur eXtraor-
| dinary expense, or 20 pay an accumulating debt,
the question is not so much one of population as
of industry and productiveness. 1t is a question
of the rate at which the nation increases in
wealth and resources. This problem has scarcely
been investigated at all, and is understood by
few. To meet the question of the ability of this
nation to pay its present and future war debt
with promptness, and without the least distress
or doubt, we propose TO examine these points -
/. What is the wealth OF the nation 2. AT what
rate does 1t increase? 3. What is its proportion
70 the debt
|. What is the wealth of the nation Wealth
is all the available property of the country
lands houses, precious metals and domestic ami
mails, and Instruments for the employment Of
labor and 10 make lands productive In some
countries as in Holland and Belgium, there Is a
considerable drawback on many of these, from
the fact that there is little or no market for them
except for the use Of those who hold them.
Thus, man who builds house in Amsterdam
does not expect TO sell it for what il cost he
builds it for his own use. In this country t. is
exactly the reverse. Every man expects To get
ore for his property than IL costs, and ia nine
cases out of ten is justified by the event.
In a CoHntTy where foreign immigration Is i'm
mense, and the natural growth rapid, the market
is always a rising one and all species OF property
is marketable. Hence, in yalung the properly
of the country, there is no drawback from the
want of q sale, or the possible fall Of values. Tue
properly Of the nation in one year is worth more
than 1t was appraised at the preceding We Ii
therefore, we can lind fair valuation OF Tue pro-
pelty of the country, that Violation is a perfectly
safe standard 10 ascertain the wealth Of the
nation.
1t is only recently that sny attempt has been
made to value the property or wealth OF nations.
In this country the only valuations we have are
in the ceususcB of 1850 ard 1860; but these are
enough to establish both the actual value OF pro-
perty, and the rate of increase. The valuations
are very well proved, by corresponding nearly
with seyera. State valuations which are made for
| the purposes Of taxation. For example, the in
crease Of wealth in the State OF Ohio given in the
| United States censuses Of 1850 aud 1869 compared
| very nearly with that given by the Auditor OF
| State and Commissioner of Statistics, which Is
| known TO give very near the actual saeable value
| OF property. We therefore assume the yalu alton
| of property of this country given in the ceususes
| OF 1850 and 1860 TO be substantially correct.
Taking, then, only the States and Territories now
| in the possession Of the United states Govern
! ment (althOugh for the ultimate payment of the
debt, we have right 10 assume that we shall
recover the whole property Of the natiOR), the
following brief table will sh3W our wealth in