The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1865-02-23
How the Money Goes.

The current expenses Of the Fedora
Government are not less than Three
Millions of Dollars per day, or owe,
One Thousand Millions per annum
About One Million per day is raised by
taxation, in addition TO the heavy cost OF
supporting our state and local authorities,
Roads, Schools, Public Charities, &c,
DC, leaving some Two Millions per day,
OIL Seven Hundred Millions per annum to
be added to our vast National debt
This money we are in part borrowing in
Europe at the rate Of fifty cents on the
dollar-that is, we get fifty cents for
every dollar we promise to pay-and so
are agreeing to pay two dollars for one,
with ten to twelve per cent. interest; and
good many of our own people refuse
TO lend their Government even at these
monstrous rates. To-day, men are risk
ing their funds in all manner of wild
speculations in preference to lending
them to their country on terms more
favorable to the lenders than great rich,
energetic nation ever offered till now
and prudent men choose to take their
interest in greenbacks on bond and mort
gage rather than in gold on National
bonds 1t is far within the truth to say
that our country is running in debt One
Million Dollars per day or Three Hundred
Millions per annum more than she need
or would if her credit were as good as
that of William b. Aston or of Great
Bratin, though the British National
Debt is considerably larger than ours.
Such are the circumstances under
which--with gigantic war for the Ma
tional existence still in progress-the
House of Representatives see fit TO pledge
the National resources and credit to two
new works of Internal improvements
Ship Canal around the Falls of Niagara,
and another connecting the waters of
Lake Michigan with those of the Miss
issippi These works are of course esti-
mated to cost less than Twenty Millions
will never complete them. Their preteNt
is National defense; but nobody imagines
that they can be constructed during the
present war or for several years after its
close. They could be useful in no war
but one with Great Britain; while the
money they would cost, wisely expended,
would suffice to serve peacefully the con
nection between the Canadas and Great
Britain. If we should ever again be so
unfortunate as to be involved in war with
the British crown, there will be men who
would take n contract to put the enemy
out of the Canadas and bar the door
after them for less than the cost of these
before asking for their pay.
But what use in running down the
false pretenses under which these
schemes are pushed? Every one knows
who knows anything that they are not
inflated with any view to National de-
Tense or Military operations-that they
are simply raids on the Treasury for
personal and local ggrandizement.-
They are intended to make the fortunes
Of individuals, some of whom are after
money, others intent on office and polltl-
cal consequence. They are grabs, on
the principle of each for himself and the
evil one take the hindmost.
We are not denying, and will not now
discuss, either the abstract utility or the
ultimate feasibility of the works IN
question. or course, they can be made,
with money enough; and they will add
somewhat to existing facilities for IN
ternal commerce Their construction
NAV at some future day be advisable,
though we cannot readily admit that the
Federal Treasury should ever be saddled
with their total cost But to compel 1T
10 shoulder the load now, when our over
strained Public Credit is where 1t is
when our heroes in the field are vainly
asking for their hard earned pittances TO
feed and clothe their needy wives and
childrcn-when some hrigades have had
no dollar for their last six months, serv-
ice and are becoming mutinous and I'M
serviceable because uupaid-when no
body deals with the Government who
can find any other customer, because
navment is withheld TO the last moment,
and then oftener made ip certificates of
indebtedness which must be sold at
heavy discount-when everything says
and drsSs-<or want of money, and be
cause the National credit is so dubious
did human infatuation and short sighted
creed ever before prompt such com
Sound of insanity and practical trea-
som " Y. Tribune.
The longest railway in the world, is
The ..Grand Trunk" l,396 miles of rail
ana MANAGEMENT. and now $50