New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1865-07-15

How Our National Debt Hay De "a National
Mr. JAY COOKE AND Ills LAST MANIFESTO.

Mr. JAY COOKE AND Ills LAST MANIFESTO.
Mr. Jay CooSe in hi. recen. pamphlet entitled "Ho.
Eetioral Debt may De inside National Blessing" ialr duces
ideas which when scanned b. intelligent men. prove
solndne.s II logic sd ui innate knpolse not only Of
financial matter out general klosed-r q mankind which
has never before been attributed 20 h. Our uc Dor o
The Heyq'i a. exercised himself particularly bring riiru
mon Nj Cooke AID the perry IN M COOKIES employ vic f.
spprosed TO have wnten tue Time.
Now as for MI. Jay Cooke personally have knowl
edge lin. lie IS si 90 have been the managing partner
o. tie banking house o. Glaze, Dodge G., in Philadelphia
and o. such gave abstraction 70 DE-. partners aud oil who bad
dealings with him
Subsequently being employ eby The Government place
the $40 loan before the people be- equally successful aud
succeeded d. seii Tho whole S501ooOOo not r OF which
Wa taken oy any foreign Government When tie
present 10 loan wa. Authorized. tie success which
M Goose had met in the legoladon o the 52Os naturally
caused The Secretary Of tie Treasury 70 ssct him IS tho most
available man 10 sell the do uot wish 70 70
enter into defense Of Jay Cooke or Bis hnancis policy We
have uo,Lg DO with e. hn oat the record # our col
umns will show that l4y. been ready to accord
;ice where icei due IN pursuance 81 this course which
ever has hope viii characterize
journalists, submit the following from Mr. Cooke
pamphlet:
The five g,ea' Powers Of he world lave elc permanent
National Debt il would seem q 't h tis Institution Was
not incdentai 60 iAe growth ana Of states was
the contrvance of te prac c hc.u' who shere govern
ment with princes and t9iirr u Gle ci. Of National hir.
aud who acc' nt s"ay o. 600 econour rood what tTo"-
dcuce falsely seemed 10 ihe uueseucd to cast tpon
their countries u penal n'c ~ lhe 'lo" Jog ia'e
fine pegmen neehieones- Of Great bfitir France Rus
Austria aud the Cet States Of c burden ~ the inter.
e. Of the deb; Of each Govern -nt OF the burden o. Pine aeb
Per capt. On ;hr pog1liion Of ea" and Of tie ratio OF the
Interest to tine a production Of The 'e counie repcct
lively.
pr 90 annual
France 1853 s294Goeo slS.. toOoa 81 i So.
Austria. 1884,. l.lo3HO0o isi0mW 800
Tn u Dt STATE o. o5occ6 IT, 5000 81 5G5
Our ability to pay or Wax Deb has been demonstrated
connected with the Financial Department, Of Government
have shown at the Customs Revenues Of he United States
the Egc.c ami lerna ToEes our unerJ iion. scarcely
population and The equally certain Increase Of IT, ,usc
viii be- Sufficient discharge ii GoO to the last dollar
within weHiyh.c years. and This ceb viii be dseharged
the people ollaa Us payment. H. retention unpaid
matter Tor tho people 10 decide u j. their debt discharge
II II De burden. .t 60 them debt TO perpetuate ii II BE-
good
IN studying thee permanent debs aud discussing the
policy Of maintaining them dschatgns them oy pa ineni
Inc mind should nee hc nom The tyranny OF words Great
The burden II The dett c,.f he mind in CONTAMINATION II
H. But s yssuss OF the obliseuopior
there the 81 the debtor Kingdom 70
pay the prca of the -t aid Ie n any expectation and
ies desi.c he Tt subjects that it shah be
pad. In principal OF Toe debt being thus removed ilo our
educated idsa 10 , burden and OF the necessity to dis
charge pfcuy cbgaou. TO represent the burden
The interest Of The debt only becomes the Of its
burden Oes' Briau 90 areat Britain conessedy
toOOV00OO. But practically, and by and harmo
nious arrangement Great Britain Great Britain only
ti270oO)oo year. And thst very small debt for his
. 20 each other IL disr buiyc burden il but ~ %
hesd wheel no. assessed on day per capita bat bu'y
sppooned thr large share upon the propetors Of the work
shop ana the smaller aud Gma e npon the azins and labor
s l practically aud hnnnesy is fsir statement Of the
nsure and burden ~ The much taikedof British Debt.
such should b, ts regard Of debt The United
States viii owe mostly to the people Of ths United bsssss.