Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1865-05-27
Tkc 2-10s and the End Of The War.


The greatest war of modern history ha.
ended in triumph. The country has demon
stratcd the vastncss of its power We knew
it was great; noD all the world knows it,
Our ncighbors across the water, who said
our very greatness vas our weakncss--that
we should never hold togeihcr-that We
,nt.st fall to pieces. and very small pieces at
that t--rotc take off thcr hats and beg to
assure US f their ''t:,ost distinguished con.
siGeraion." Verify. young nation that
can raise two mifiious of fighting men and
two thousand n;lii0ns = f.TonGy, just for the
asking is worthy vf being "considcred."
| They told us We could f1at t.rry on the war
SIX months without begging for loans in
European markets. We did carry on such a
war rs they never dreamed Of, for Jour years,
and never asked for dollar; and they now
wish to buy our bonds at an advance of fifty
per cent. over last years prices. Govern
mcnt stock. arc quoted as I,risk and in dc.
, mand, and well they may be, for the time
will soon come when no more will he offered
The national expenses will soon he down to
peace footing, and, instead of o Treasury
budget cf nine hundred millions, Secretary
McCulloch will ask US for about third of
that sum. And how much easier it will he
to raise this in peace than in war! The mil
business to destroy life and property will
return to pursuits Of industry, and the now
rAvaged fields will whiten with new harvests.
Instead of reading every morning that so
many miles of railroad have been destroyed,
it will be TINT $50 many new avenues to
material wealth have been opened" The
South itself will he compelled to bear its
share OF the burden it imposed on the
| country, and Its cotton so much greater
than gold and still! so much less ,han king
will have no attribute Of ROYALTY Int what
it pays into the rrvc' ~. tax un South
ern cotton vii hc quite as easily collected
as on Northern petroleum or manufactures,
and besides tic article must c hat.-the
world wants it.
1t would take but fraction of our pro-
perty to pay our national debt now; but if
we do not pay dollar of the principal in
ten years, that fraction will be reduced one
! half-by the development of the national
resources. We shall doubtless wind up the
war and square all accounts with national
debt OF less than three thousand millions on
about Is per cent. OF the present national
wealth; but, according to its rate of increase
| (l27 per cent? from 1850 to 1SGO,-in 1875
this debt will be less than nine per cent.
But our ability to pay the national debt
needs no demonstration; but as some Of us
have looked upon the dark side, we NAV as
well have glance at the sunshine.
The national loans will soon be out of the
market,-but for a short time the Govern
ment will need money TO pay off the army
and settle up the expenses of the war Only
about two hundred millions more of the Sc
cond series of the 7-30 Loan remain to be
taken, and when it is finally withdrawn
there is no doubt that it will rise to a hand
some premium, and at the rate II Is now
going, some time within the next sixty day,
will see the last of this series. Mr.. ia,
Cooke, the subrcsipton agent, announced
in February that the first two hundred
millions of 730s will probably be taken il
at par from three to four months'-but the,
nere taken in less than two. So that partie
who desire to invest at par in the o. 8
Loan, bearing seven and three-tenths snnua
interest, and in three years convertible int
/, $50 six per cent. gold interest bond shoult
: make their preparations accordingly. Man
OF the best financial authorities believe tina
. the Government will bc able to fund sue
b portions of its debt, as it may not be read
TO pay as ii falls due at A. ner cent