Daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1859-1865, 1865-05-19

from jay Cooke, the general spbseEiption
agent of the GoVernmsat loans, PAM blet
"prepsFedb By DR.. VIM. Elder, Of the TSesas.
ury Department" at Washington. We
propose to condense some of the main
facts and figures set forth, for the instruc.
ton of the readers Of the LatelhgeRe1.1
On the s1st of March, 1865, our debt
wee officially reported by the Secretary Of
the TEeAsuFECA ~ lhe sQmceES So. Sci, 900, 600
Il had iaeseased IN ase days preceding the
report Ct an average ,ratsaof 5000. sos.
Taking this sTsrsgsl for Computation
doubtless it is too grsat-the additional
sum would be $1so, 62T. 62s on the frst Of
July, 1865. The aggregate debt st that
rate would be 81, 55T. $50, sos. This state
ment embraces every item of Indebtedness
known to the Treasury Departments. Al
loving for all possible further contingen-
Giles arising ont of the war, damages pen<
sionS, &C., the debtw not, it is assumed,
exceed s.. 900 ooo, 600. - . q.
Measured By comparison with the facts
of our National history, the present 6nan-
eiaI situation IS not adiseouragipg one 10
E1g16 the public debt was 1921, 900. 600, an
average on the entire population of $14 81
per head aud seven per cent. oothe esttma-
ted value Of all the property of the eoun.
try. This assumed debt of So. oo0. ooo. 900
would be fifteen per cent. of all the pres
ent wealth in the loyal States, and $ss SO
per head Of their population. The debt of
the revolution and the war of 1879, was
wholly discharged in nineteen years, from
the ordinary sources OF revenue. There is.
a wide difference Of conditions between
the country now and at the period when
these former debts were discharged. In
the first ten years of that deb paying PEE
Rod, the wealth of the country grew at the
slow rate Of twenty-five per cent aud in
the next decade. which closed the term, at
NO more than forty=one per cent, which
the wealth Of tile loyal States increased
between the years 1850 and 1860. just one
hundred and tWenty-sixd per cent. in
amount no less cum than $4,000. OoO, 900;
or quite double the debt We are now con-
cerned to provide for. i
A comparison of conditions between this
country and Great Britain after the close
of the Nepolonic waro shows similar ia.
vorable results. The British debt was
81. 206 600 600. The entire wealth of the
Uuuited Kingdom was then, according to
the received estimates, $500 900, 900
less than that of the loyal
states in 1860; the charge per head upon
her tOtai population was $7fs=2o, and the
circumference upon the total wealth OF
the nation. 4-l0 per cent In the fifty
years since the battle Of Waterloo, her
wealth, has grown at a slow but steadily
increasing rate from 20 per cent. in the
first, to Al per cent. in the last ten years,
that iS, increasing In the first decade about
81, 100, 0OO, 600, and in the last quite 50!
O0O, 100000. This debt which wasz a bur.
den. of 40 A.1O per cent. upon the wealth of
the kingdom in 1916, has fallen, by the In.
crease Of the wealth of the nation, 10 be
but IL per cent. now, although the total
debt Of that date has been reduced but
$3.50 900 900, or less than per cent.
The burden of pressure is not 10 the pro-
portion of debt to property, because the
Payment of the principal may be indefuite-
fly postponed while the public credit il
maintained. The burden is represented by
the relation of current interests 70 the cur
rent annual product of wealth. On the alst
of March, 1865, the total amount of the
interest bearing debt was 81, sb1 ,4le, $40
the annual interest amounting to $lO2,,
sa6, 53l-an average of 5-65 per cent. PEI
Pnnum. Allowing for the funding of the
greenbacks and the augmented debt, DR.
Elder assumes the annual interest to be ont
hundred and sixty Eve millions after 1866
large estimate. Assuming that the an
nuGl products for the current decade vii
be the same As for the last ono We have, 70
june, 1885, a Eealthsot ,le,1l2 millions
Gnd an annual pr6daS OF 4,sls millions
: ON which sum the estimated interest wonlr
3 be 2,sl per cent. But for the occurrence
of the war the annual products for this de
cade would undoubtedly exceed those o
the last, as the ratio Of increase has bee,
3 constantly growing greater. Allowing 70
Z the drawbHcks OF the war, the estina.,
made lie not an excessive one. Four nav
u territories, which had not been reported /,
e 1880, were valued in 1860 at 90 mil,iors
y and the stiIl newer ones, Dakota, Nevada
o Colorado, Arizona, aud Idaho, are not val
ued at all. These last are among Is,
I Fichest 10 the precious metals, and ar,
= rapidly rising into equality of produC. viii
y California itself, but have no report in th,
g. From the extensive new mineral land.
from the newly discovered resource, pstro
. lsnm' from coal mines. from salt, and lin,
= and MARBLE whose Developments is In.
u cFeasing in geOmetrical ratio, We sbsl
= derive 10 all probability q product that Vii
l. swell the ANIMAL VRiDu N .,o...