New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-05-29
PAYING OUR DEBT.

Inc Hrrdfd rcNlVcs anu pIcrSco Win H'a s"'
project of paying off our National Debt by a
concerted voluntary subscription. which it heads
with the sum of $40, 900, calculating that One
Hundred and Fifty Thousand subscriptions OF
so, 900 each would furnish the Three Thousand
Millions of Dollars required. That We presume
TO be safe calculations: but where are the
$50, 900 persons to he found able to give $50, 900
eaoh' We greatly doubt the possibility of find
ing Fifty Thousand persons in our broad land
who suppose themselves able to pay any such
sum. Vast amounts Of real and personal prop
erty must change hands in order TO render this
payment possible but We will suppose that
any form Of National Indebtedness, including
Grcenbacks may be receivable on this account, 80
that the means of payment will not be wanting
if the ability and the will should be found to
exist.
But let us consider the matter in a purely
business light:
The Nation owes, we will say, Three thousand
Millions Of Dollars; the entire property of the
People was worth in 1860, according to the Cen
sus, Sixteen Thousand Millions. Let us a.
sumo that its actual value was not less than
Twenty five Thousand Millions, and that the
War has only destroyed fifth Of this aggrc-
gate, leaving il to-day worth Twenty Thousand
Millions in cash. From this wc will deduct
fourth only as in the hands of persons inimical
to the Government and Indifferent TO
the payment of its Debt We have
left Fifteen Thousand Millions AZ the
actual (not nominal or Officially value
of all the property in the country which
il to contribute to the payment OF Three
Thousand Millions: in other words, every one
must be willing to pay in cash one-tiith of the
total value Of his estate i'll order 10 sweep of
our Public Debt. And, in order 10 provide for
deficiencies caused by the absolute in
ability of minors, imbeciles, lunatics, &C., or
their guardians, to respond to the requisition, all
who edn pay must pay at least twenty-five per
cent. of the full value of their property. Will
they do it,
We find this question answered in the offers
already made. Com. Vanderbilt is currently
reputed worth 800 600, 600; and he is ready to
give $500 600, or one fortial of his estate, if he
can thereby secure the payment of the entire
National Debt-a perfectly safe and thrifty
offer. Mr.. James Gordon Bennett can hardly
be worth less than 81 900, 900; he offers to give
$40 900, OF one-tnenty:ftth Of his estate-and so
of Others. We can find no name on The Herald's
list of man offering TO give ons-tsnh ofhis prop
erty: so the scheme is a confessed failure. Not
till our people are ready to take hold IN very
different spirit from this can the payment of our
Debt be even seriously attempted.
But, as The Herald is so Jealous for paying
of the National Debt, and in its last manifesto
bcrates I" the troubles caused in this City by the
laundering observation-disclosures Of the officials in
the Internal Revenue department" We will
thank the veteran Editor to stop one of their
scandals by stating in just what district he paid
his Income Tax for 1868, (due in 1861, and
whose receipt he has for it. The story that his
place of abode is so uncertain that, WHEN called |
upon in one district, he protested that lis proper
residence was in another, and rics rersa 80 that
they never could find him in the right place for
taxing purposes, and did not succeed il making
him pay at all. OF course, this cannotbe true;
but We note that these blockheads hay. carried
their stupid maignity to the extent of keeping
his name out of the published pamphlet list of
Income Taxpayers in our City. Will he,
therefore, Oblige us by putting them al to con.
fusion of face by printing his receipt for last
years Income-Taxl
At great meeting of the Free-State IniOnists