Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1865-05-12

U. S. $50 LoAN-Nea0 Series.-We pub
lish in to-day's paper the advertisement OF
jaw Cooke e. Co., subscription agents, for
the new series of the 7-30 q. s. Loan
Those having funds to invest would do
well to examine carefully the superior in
dueements offered by this loan. All the
bonds issued on previous loans command
a premium in the money market, and it is
reasonable to infer that these Bonds will
be no exception to the Others Since it is
reduced to a certainty nat the war is over,
the rush for them is unprecedented, and it
will, at the present rate of subscriptions,
be but a short time till they are entirely
absorbed. Of the ability of our country
to pay the debt accumulated by the pres
emit war, and to meet the expenses for
which the several loans have been made,
the following article, showing the expe-
rienee of Great Britain in the way of sus-
tanning heavy Indebtedness, should be
sufficient to remove the doubts Of the most
i~neredulous
National Debts and U. S. Stocks.
The creation of national debts is not a
modern improvement, but the ability of a
great nation to provide for a great debt,
and to max it the most convenient n
best form of personal property, is a mod
eTn WODOGE 4h6 u6DL OF GI6aG BRITAIN
was begun by raising q million sterling by
loan in 1892, n when her great contes
with Louis XIV. was terminated, the debt
had reached fifty millions. Many states
the great burden which had been imposed
upon the industry of the country, but
When the war of the Austrian succession
had swelled this mount to eighty mil
Ions, Macaulay says that historians and
orators pronounced the case TO be desper-
ate. But when war again broke out, and
the national debt was rapidly carried up
to one hundred and forty millions, men of
theory and business both pronounced that
the fatal day had certainly arrived. David
Hume said that, although by taxing its
energies to the utmost, the country might
possibly live through it, the experiment
crease might be fatal. Granville said the
nation must sink under it unless some
portion of the load was borne by the
American Colonies, and the attempt to
impose this load, produced the war of the
revolution, and instead of DIMINISHING,
added another hundred millions to the bur
den. Again, says Macaulay, was England
given oYer, but again she was more pros
porous than ever before. But when at the
close of her NapoIeonic wars in 1916, this
debt had been swelled up to the enormous
sum of oVer eight hundred millions Ster-
ling, or four thousand three hundred mill
Lion dollars, or nearly one-haH the entire
property of the United ingdO theStOut-
est heart, the frmest believer in national
progress and national development, might
well have been appalled,. But in the very
face of this mountain of obligation,-to
say nothing other vast colonial possessions,
the property of the British nation has
been more than trebled, and her debt is now
a charge of but 12H per cent. against it,
All that Great Britain has done in paying
her debt, we shall do, and more, with ours.
We have vast territories untouched by the
pillow, mines of all precious metals of which
we have hardly opened the doors, a popu-
Iation full of life energy, enterprise n d in
dustry, and the accumulated wealth of
money and labor of the old countries pour
ing into the lap of our giant IND ever-to-be-
united republic. During the fercest and
most exhausting of all possible wars, we
have demonstrated our national strength
and all the world over, national strength
is but another name for national credit
"As good as United States Stocks will soon
be synonymous the world over with "as
| good as British Consols." For our part, we
think a U. S. Treasury note, bearing seven
| and three-tenths annual interest, is Just as
much better than British ConsoIs as the
rate of interest is higher. Some of our
timid brethren, who shipped their gold to
London and invested in consols, are now
/ glad to sell out and invest at home at a
round loss,-and serves them right.