New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-08-30
Nrp NATIONAL DEBIT


Public Debt. Its aggregate Wien "i. VI"
standing liabilities are fairly ADJUSTED, VIII no'
Ic,l ho,ow Three Thousand Millions Of Doiiars'
m. ,.o.rroed value Of Real and Personal Estate
.,,-o,,o.bont the Union was, by the Census OF
,sco sixteen Thousand Millions Of Dollars,
which we double to obtain the actual value;
ord This has not been essentially reduced; Tor
while the value of negroes as slaves has been
struck ont of existence, the real value OF
Southern lands has been increased thereby to
at least an equal amounts and while we have
been wasting and burning in the South, we
have been creating and improving IN other Sec
tons, but especially in Colorado, Nevada, Mon
tana and Idaho, where property worth Humid
reds of Millions has been developed since 1859.
On the whole, we judge our aggregate wealth
to be Just about Thirty Thousand Millions, so
that the National Debt is a general mortgage
of about ten per cent. On the entire property OF
the country.
This Debt every impenitent Rebel, every
malignant Copperhead, intensely hate, regard
Ing it as the cause and means Of their mutual
overthrow. Had the Government been unable
to borrow, the Rebellion could not have been
nut down; the Confcderacy would ere this have
been fixed fact; and by this time the Demo
cratic party in every Free State would have
been fercely struggling for a Reconstruction
by the accession OF their States respectively to
that Confederacy. For it is idle to talk OF Dis
union save rs stop-gap-a hali-way-houSe-a
transitory halt on a down-hill road. Not six
months after the recognition of the Coniederacy,
every State remaining in the Union would have
been convulSed by struggle caused by the
Democracy" demanding that it adopt the
Montgomery Constitution, make Slavery uni
versal and eternal. and thus win admission into
the empire of JEFF. Davis. Horatio Seymour
wanted New-York to do this in 1861; RCdnan
III. Price publicly urged New-Jersey to do 50;
Judge Woodward Qast Democratic candidate
for Governor) insisted that, if the Union rere
dissolved, the dividing line should run North OF
Pennsylvania. Bad as Disunlon might have
been. it was light affection compared with the
impending peril OF reunion on the basis OF Uni
yersal Slavery. And every man who secretly
or openly desired such reunion Is to-day IN MS
heart repudator, and will swindle the credit
ors of the Republic if he ever shall see that he
can.
Our Financial endurance is the miracle of the
War. The world never saw its parallel. Ii
every capable financieron earth had been asked,
How much money might the United States
borrow during the progress OF a great Tour
wears war for the integrity Of the UnionP the
average Of the answers would have fallen below
One Billion of Dollars yet we have borrowed
: NEARLY Three BillOnS-much Of it when our
/ sbv was black as midnight. Our victories may
we'll excite glow Of patriotic prde but the
Rcbellon's real conqueror was he who supplied
the money wherewith our armies and fleets
were created, organized, equipped, tedhnd paid.
Our Finances were main object OF Rebel
attack. Rebel money was sent to this City to
be used in betting up the premium on Gold.
Copperhcads and Rebels made large piles on
the increase Of that premium, and lost larger
on its decline. Edward b. Ketchum ruined
his fathers house and lost Six Millions in try
ing to keep up the premium after that had be-
come impossible. There were secret "rngs'
Of Copperheads throughout the country, each
pledged to take no part Of any Government
loan, and to discourage others from taking any
One Copperhcad Congressman who wa Presi-
dent of a Savings Bank went home at a critical
period and insisted that every dollar Of the
National Debt held by that Bank should be
sold out. There were Democrats who stood by
their country in Finance as elsewhere; but the
great mass of them avoided Government Stocks
as if they had been rank poison; they thought
everyone who invested therein a fanatic or Il
fool and they mean to prove him so yet
Hence, we see every Democratic State Con-
vention exhibiting its ivory at the public credit
ors after this fashion: (We quote from the new
platform of the Democracy of Ohio)
"Ii. Resolred That we most explicitly condemn the
polcy of the party in power in creating thousands Of
millions Of dollars OF government debt and attempting
TO exonerae the holders thereof from all obligations 10
pay their Just proportion of taxes for the support Of the
State in which they reside; ana thereby creating an
declare it 10 be the immediate duty of Congress- and the
State Legislature 10 use all the legal and constitutional
power they possess TO subject money so invested TO
burden Of taxation equal TO that imposed upon other
property for Federal, State and municipal purposes"
Let us look into this a minute
The United States, in pressing need of money
in vast sums, offered certain inducements to
those who would supply it-namcly, ]. A
specified rate Of interest; 2. Exemption from
local taxation; g. Repayment at IA specified
0av Eoob &c tbo,o 10 m, infoUro1 mart nf thc