The Tipton advertiser. [volume] (Tipton, Cedar Co., Iowa) 1856-1962, 1865-03-09
The War Debt. .

-.t ID. D. The War Debt.
&" The opposition newspapers which have
obstructed tho war from its onset, and
which endesvored to break it down wholly
At tho polls in tho Presidential Election,
are attacking the credit Of the Govern
ment.
If the men who call the issue Of the
7.3O Loan - swelling of the volume of
the ourrency"-who declare that 'if We
do not conquer the South within the next
six mouths, our finances will break down
and all our immense sacrifices prove una.
vailipg at last"-who says that if We do
not scatter Gen. Lees srmy in the spring
and early summer mouths, "there is dan.
ger that We may pass from the perilous
brink of bankruptcy into it's yawning
depths"-who declare that in our fnsnces
We are "rapidly nearing the vortex Of the
terrible whirlIpool'-vbo say that, latter
an abortive spring campaign, the Govern.
ment could no longer negotiate loaus'-
if these men we're we'll meaning aud hon.
est, instead Of being studiously unpa.ri.
otic, their presages Of evil would not be
entitled to any consideration. They
would be but the dcvises of an economical
blunder and financial terror, which
shook England century ago, aud which
half century of British aggraudizemeus
10 wealth and power has wondered over
aud laughed at. The history of the pro.
tructed struggle Of Great Britain against
Bonaparte is full of the fears of her best
economist, that her war expenditure
would terminate 10 irretricvable bsnk.
ruptcy aud in the utter destruction Of the
nation. Adam Smith was among them,
aud the Historian Hume, aud Dr.. Price,
the author Of Pitts Sinking Fund Sys.
tenn. Lord Macaulay thus sums up his
picture of these financial terrors, and Of
their entire nesdlessness.
CAT every stage in the growth Of that
debt, it has bocn seriously asserted by wise
men bankruptcy and ruin were At hand.
At every stage Of the growth of that debt,
the nation has set up the same crv Of an
guish aud despsir. Yet still the debt
usnt on growing, and still bankruptcy
and ruin ,vsyc % remote -. -eurx...-----
the time it reached the highest point,
he says:
at was in truth a gigantic, fabulous
debt; and We can hardly wonder that the
cry of despair should have been louder
than ever. The 1eygard, the bankrupt
society not only proved able to meet all it,
obligations, but ,chile meeting them, grep
richer and richer 50 fast that the grooth
could almost be discerncd BY the eye.
What is the error honest alarmists among
US have fallen into? The same that the
English fell into. Macaulay exposed it
clearly thus:
"They erroneo.sly imagined that there
scas an eract analogy bet~een the case o.
an individual who Is in d.Lt to another
individual, and the case Of society ,chsch
is in debt to a part Of ITSELF They were
under an error not less serious, touching
the resources of the country. They made
no allowance for the effect produced by
the incessant progress Of every expert
mental science, and by the incessant Effort
of every man to get on in life. They saw
that the debt grew; and they forgot that
other things yrew as weH as the debt
II economists Of the school of Adam
Smith do forget these manifest truths,
the People do not. See with what ap.
probation of the Present, aud confidence
in the future. they pour their savings iu.
to the Seven Thirty Loan.
But let US not be understood, in thus
animadvertine upon the motives of those
who would cripple the Government by
exciting the fears Of the people, as the
advocates Of public debt without limit.
While we urge tho people to aid the
Government with al the requisite means
to carry on an exhaustive war, We at tho
same time insist upon the most rigid
economy on the part Of the Government.
While it relies upon its credit aud tho
patriotism Of the people, it must not for.
get that dollar saved is dollar earned
with nations as we'll as men. It connot
Be too economical; and if it wants to pre-.
serve public confidence it must show that
that It deserves it, by avoiding all un.
necessary expenditures, and shutting of
tho streams Of extrsvagance and waste
which, in some quarters, are allowed to
Aow unchecked. The people are ready
to give it money; every loan it has asked
for has been promptly and generously
responded to. That which it is now
seeking to obtain will be all tho more
easily got if it is made manifest that the
Government means to save money as we'll
% borrow it, aud that it will never bor-
row more than is absolutely necessary.-
Neu York Tribune.
Man Who Has Not Slept for Fourteen
Yearo
,r.>. A.. wh..Nru wv Yn<ai1f0enenY1