New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-05-06

centuries under culture. enhanced their wealth -
IA great proportion in the same time; and PenngS-
vania ma'le an increase Of Sc Der cent upon h0
large capital Of $10 900 COO.
Petroleum.
From present Developments made and making. =
would seem that this new-founa tributary of ouS
national wealth is practically iLexhaust,bfe. The
States of Ohio ard Western Virginia are yieldins
reached an annual product Of sc, 600 600 Of eaIoas
The promise OF Kentucky Is very large. aad South
ern California gives assuring indications OF equa
abundance, and even finer quality, at loss cost q
labor nd capital. This oil, already in universal
demand is rapidly being utilized more and more b
1.-The improvements made in its manufacture, which
are bringing even the residuum of the earliest Pre-.
cesses into service aud fitting ali forms OF the pro.
kduct for employment i'll new uses. As ior inc
shreadth Of TIE country which holds the Supply,
safe TO say that II extends within ouf own tefe
tory from the Allegheny Mountains on the east
sthe Pacific Ocean on tho west; and that throughout
an area OF 2,000000 of square miles Of our CONAN,
Il it may be found anywhere and made Available u
sprcpcrtion to the enterprise employed IN us az
lveopmcSt in measure OF use, quantity, ana vaiues
liz may be cassed with our iron mines and monnt'
kaips, our coal-meayures, our salt, lime, msybles
I and all the known varieties Of useful mineraiss
,Geh and all laid mp in reserve without any otnes
I limit Of onriching products than the demand w
shall make upon them. -
Such, briefly, arc our mineral resources, tho chic
material Of manufacture The supplies OF WHOM
the surface Of our territory is capable are, in Like
manner, unlimited in quantity ard vanny ru
but 60 900 600 Of population upon the SOIL and al.
wide their industries in due and cooperative pro.
portion ard 1t is entirely within limits To say thas
I'VE can furnish 10 foreign commerce. from our sur.
sp,us, tho manufactures and provisions required y
the wants OF four times our OWE numbers Ana
are wo not sure of these conditions Of such en-
arssd production in the 70 years before our presene
pdebt, under the terms Of the contract becomes
sfcyahei In each Of the last three scores Of yean
we have doubled population, and the new epoch
sjast opening in our history promises on the safest
. grounds Of estimation, to exceed this proportion
: within the like period.
\ TIE suflciency Of the wealth, existing and -
pectaat, to support without detrimeRt to the pro.
aressve prosperity of the country the required rev.
oluc, is thus unque s.ionable. Let Us now glsnea
lat the ways aid means Of raising 1t.
Under ouI present system Of Internal taxee, tho
sctua yield at the rate OF 500 600 900 for the cur
Trent calendar year. The cessation Of bostiiiiea,
which is TO be looked for at an early Jay, WIZ
diminish the receipts from the manufacturers q
army supplies while they are changing into nov
fo1ss If production, but any such temporary redao.
ton in the crisis will still leave sum which, VITA
the receipts from customs and lands, will certainly
5aier5 for the present year an aggregate revenue 81
$50 eco 0J0. Now, the interest Of tho debt on The
3lst Of March last was 0SO0O,9oo ana If IN We
RON aiming months teas form Of debt should be IN
creased 500, O)0C COO ct 730per per annam, The
total interest will be fraction less than $izG W0oes
leaving Of the treasury receipts 500 900 o0 forord-
I nary expenditures.
Win peace restored, the civil, military, and Ms
val expenditures will not exceed tis sum, aad tns
growth Of the permanent debt will cease within the
yconjectural limit have assigned it, The intcres
for 1856 will not exceed 100000, 1880 oOoc0
Of the total debt shall long remain IN the form q
| United States notes. For these and the following
years for which we have assumed $i65, OOO,CO -
! he maximum annual interest, We have provision
in the wcll-assurcd increase Of the revenue from
taxes customs, and land sales, as will presently
appear
4 Additionai Sources Of Revenue-ExPors
Duties.
An export duty upon the cotton, tobacco ana
we have the command OF the WORLDS markets, Is
not only ultimate reliance but near probability
and can be made TO pay from SEQ 100000 to 500
900, coo year, without detIiment to any Americas
interest.
Revenue from the Southern States.
Nothing Of this has entered into any OF thu pro
cedng statements estimates; but duly prepor-
1tioned amount of excise and assessed taxes froeA
)ths restored insTgent States must not be Over.
looked. Their wealth, IN 1909, was $J,iSI ,oU.V.
-
United States That they shall contribute in some.
thing like that proportion in relief OF the pubic
!burters is clear as matter Of night, aud 49, indeed,
il constitutional obligation Of al the members OF
the Union; nor is tnsir ability In any wise douSs.
|ml Whatever Of enhanced cost or dln.ihsAeo
quantity of production may occur II the saiieN
Years Of the restoration, will be borne ny the con.
sursers Of their staples state Of things however,
that can last Tor only very brief period; Tor tnege
is product Of agriculture Lat expanas 30 tagiuJ
as ,hat az cotton In the FIVE years from 1893 10
1860 they doubled their product. II can be restored
new in less time and then advanced upon at the
like rate; for they soon TO set forward IN ca
reer of prosperity unparalleled in eli past expen.
eAces. The Rebellion has dlsourten.d thein OF a
incubus. They have at command all that tho tenn
perac climate affords, with the seln-tropcal added.
THEY lack nothing but the population, enterprise
and diversified industry Of free institutions, aud
these arc brought to them by the new order ct
things.
promise Of our means and conditions, and the
United States will stand ready, with population
Of 60 millions and wealth OF not less than 60 100
millions to meet the current burden. and discharge
the total debt Of the nation. England, WIN na,.
this amount of wealth, now feels that her 'sti1
larger debt has dwndled from 80 TO II per cent OF
her property Ours then woud stand al but peg
cent of our capital, though undimnshed In amouls
in ell tina. period. %
lntere.t of the Debt and Ordinary Exs
pensc. for sho NEXT Six Xears. ~
The following tabular statement shows the result
lof our inquiry AS to the ability of the Loyal States
TO provide for the interest of the public debt END
the ordinary peace expenditure until the year io'U,
lAll tho figures Of the table express millions q
dollars, except the column OF dates and 'ha' q
percentagesl
Annual Inter Re, Esndi to s, AnnsA