The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1865-05-18
National Debts and T.. 8. Stoc,,s...

The creation of national debts is not
a modern improvement, but the sbility
ola great nation to provide fora grea.
debt, aud to make it the. most convenient
/ and best form of personal property, is q
modern wonder. The debt Of Great Brit
BY loan 10 1872, aud when her great con-
tst With Lewis XIV. was terminated,
the deb: had reached fifty millions.
Many statesmen and economists were
then alarmed at the great burden which
had been imposed upon the Industry of
the country, bu. when the war Of the
Austrian succession had sweIled this
amount to eighty millions, Macauly say.
that historians and orators pronounced
the case to be desperate But when
war again broke out, and the nations'
debt was rapidly carried up to one nun.
dred and forty millions, men OF '"eo,J
and business both pronounced tnss 'ne
fata.dgv had certainly arrived. .Da,id
Hume said that, although, by taxing Its
enargias n the utmost, the country
roigb, nossib,y live through it, the ex-
r,er;roen. must oever be repeated,-even
sra,ll increase might be fatal. Gran
vins said the nation must SINK under IT
nnless some portion Of the loan was born
he the American Colonies, and the at
tempt to impose this loan produced the
war of the revolution, aud, instead Of d.
n,inishtng, added another hundred mil
lions to the burden. Again says Macau
> ~, was Eneland given over, but again
r she was more prosperous then ever be-
4 fore. But when at the close of her
$ NapoleonIc wars in 1916 this debt had
Il been sweIIed up to the enormous sum oil
over eight hundred millions sterling, OF
4 four thousand three hundred million dol.
. lars, or nearly one half the entire property
, Of the united Kingdom, the stoutes'
. heart, the frmest believer IN nationa
, progress and national Development
mi-bt we'll he appalled,. But in tho
t very face Of this mountain Of obligation
= to say nothing o: her vast colonial po
a sessions,-th property of the British
= nation has been more than treb,ed, and
I her debt is now charge Of but Ia pei
cent. against it. All that Great Britain
has done in paying her debt, we shall do
and more, with ours. We have vast ter
ritories untouched BY the pillow, mines o.
f all precious metals Of which We hsv.
4 hardly opened the doors, a population
4 full of life, energy, enterprise, and indus
r try, and the accumu ated wealth Of mon
ey and labor of the old countries pouring
e into the lap Of cur giant and everto be
c united republic. During the fiercess and
f most exhausting T all possible wars, VI
q have demonstrated our national strength
c and all the world over, nationa
n strength is but another name for nation
f al credit "As good as United State,
= 3tock." will soon be synonymous tn.
e world over with "as good as British Con
9 so's.' For our part, we think a Us
?, Treasury note, bearing seven and three
d, tenths annuel interest, is jus. az much
e better than British Consols as the rate o
!. interest is higher Some of our timid
+ brethren, who shipped their gold to Lon
e don and invested in conso!s, are now glat
| to sell out and invest at homo at rcuu.
0 loss, and ryesshem right