The aegis & intelligencer. [volume] (Bel Air, Md.) 1864-1923, 1865-03-03
W{isteIIaneous.
How the Money Goes.

1t is gratifying to US to see that some
Of the ablest aud most influential Admin.
istration journals are beginning to have a
emIngly correct appreciation Of the real
difficulties of the position in which we are
placed 1t has long been the custom of
windy Abolition. orators and sensational
newspapers, u make light of the financial
burthen under which the nation is now
struggling. We commend the following
article, from the editorial columns of Sat
urday's N Y. Tribune, to the considera-
rion of all thong httul men. 1t presents
the financial condition IF the Nation in a
l-ht quite as favorable We may be sure as
the facts will warrant; even on this show
ing of the Tribune, they are bad enough
in all conscience, though no doubt the
whole truth would make much worse
exhibit. Here is what Greeley says in
regard the way the money goes !:
The current expenses of the Federal
Government are not less than Three Mil
lions of Dollars per day, or over One
Thousand Millions per annum. About
Que Million per day is raised by taxation,
i'll addition to the heavy cost of supporting
our state and local authorities, Roads,
Schools, Public Charities, &c, leaving
some Two Millions per day, or Seven
Hundred Millions per annum to be aided
to our vast National debt. This money
we are in part borrowing in Europe at the
rate of fifty cents on the dollar-that is,
we get fifty cents for every dollar we
PROMISE to pay-aud ST. are agreeing t.
pay two dollars for one, with ten to twelve
per cent. interest and good many Of
our own people refuse to lend their Coy
ernmcnt even at these monslrous rates.
TO day, men are rsking their funds in all
manner Of wild speculatioLs in preference
to lending them to their country on terms
more favorable to the lenders than great,
rich energetic nation ever offered till now;
and prudent men choose to take thei in
terest in greenbacks On bond and mortgage
rather than iu gold on National bonds =
1t is far within the truth to say that our
country is running in debt O,e Million
Dollars per day or Three Hundred Mil
hons per annum more than she need or
would II her credit were as good rs that of
William L. AStUr OF Great Britain, though
the British National Debt is considerably
larger than ours.
Such are the circumstances under which
with gigantic war for the National ex-
'st' nee still i'll pr"gress-the House of
Representatives Bees fit to pied.e the Ma
''oual resources and credit to two new
works OF Internal nprovement-a Ship
Caual around the Falls of Niagara, aud
another connecting the waters Of Lake
Michigan with those of the Mississippi
These works are of course estimated to
cost less than Twenty Millions but no
Forty Millions will ever complete them.
Their pretext is National .tense bu,
nobody imag ines that they can be con-
s'ruclcd during the present war or for sew
eral years after its close. They could be
useful in no war but one with Great Bri-
tain; while the money they would cost,
wise y expended, would suffice to preserve
peacefully the connection between the
Canadas and Great Britain. If we should
ever again be So unfortunate as to be iu.
VOWED iu war with the British crown, there
will be men who would take contract to
put the enemy out OF the Canadas and bar
lie dor after them for less than the cost
of these two canals ; and they would do
the b before asking for their pay.
But what use in running down the
false pre'eDses under which these schemes
are pushed ? Every one who knows any
thing that they are net Initiated With any