Cleveland morning leader. [volume] (Cleveland [Ohio]) 1854-1865, 1865-01-11
DAILY LEADER
wEgNEspAY. JAnuAnY II.
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sueeezs Of the Eatioaal Loan---PSr |
maneney OF me GoTerHmeAf.
The remsrkable success which has st-
tended the national loan since the begin
ming of the war is subject Of constant
wonder to the nations of the old world and
excites as bitter an animosity among the
arlstocratic rebel sympathizers Of Europe,
as do our repeated victories over the rebels,
They see in the fact that our Government
is not obliged to go begging in foreign
market evidence Of the deep and abiding
faith of the people in the permAnency Of
the Republic. Although the mass Of the
people msy never have intently studied
the grest financial problem of the day, We
believe their confidence is well grounded
and can be established so far as anything
admits of demonstration in human affairs.
Twenty years sgo loan Of three and
half millions was put upon the market iR
this country and in Europe. After being
out nearly ten months, but sixty thousand
dollars were taken. Now the bonds of the
Government are bought by the hundred
million with more activity than ever.
These are facts which must be explained by
the man who reflects on the events of the
dsy and cannot be referred to mere
eapriciOus and unressoning impulse of the
people. They must see enough to make
them believe that their money is well
invested when it is loaned to the
Government. The whole problem
is solved when it can be proven that the
nation will hereafter be able to pay the
interest on the loans that shall be made.
Future generations will inherit our assets
as we'll 'ss our liabilit es, and will become
equally responsible with ourselves for ev-
cry dollar spent in the suppression of the
rebellion. No one who meditates on the
wonderful resources of the country, its
coal and iron and copper and petroleum
and gold: its lumber and the vast agri-
cultural possibilities of the future can
doubt thGt our country is only on the
threshold Of the most wonderful prosperi-
ty and development ever witnessed. The
growth of the nation is illustrated in these
facts. From 1850 10 1850, the amount OF
property to each inhsbitsnt increased from
$3O2,5s to $4s6l7. In 1910 the entire in
come to each inhsbitsnt of the free states
was $67123; in 1850, the products Ofthe
manufacturing, mining and mechanical
industry of those states was 6l.5s, and in
1860, S8446. The income to each inhab-
liant of the North, in 1860, from the in
dustrial pursuits alone was more than the
entire income of each inhabitant of Eng
land and Wales in 1910. It was more
than ssventy-fve per cent greater than
the income from sll sources TO each in
habitsnt of France In the same year
These facts alone in connection with the
manufactures ofthe coutry would prove
our ability to pay tax on national debt
of $4,000 900, 900.
But the commercial and agricultural re-
sources of the country are equally great.
Assn illustration of our agricultural growth,
take the following estimate Of the leading
products of the North:
In 1870, the number Of horses and mules
in the free States was zoos, s25; in 1850,
it was 2,8246S6; in 1860, 4,6OIOO5 In
1s40, the number of neat cattle was 7,a42,-
426; in 1850 It was s,s4Ol97; in 1850 it
was l4,062, AIS. In 1s4O the number of
sheep was II, ,5e3, ,5l2; in 1850 It was l5,-
Os7,9s6; in 1850 it was I6,sS9,s9l. In
1s4O the number of swine was s,846, ,ss9
in 1850 it was 9,545, 1876; IN 1860 it was
l3,44569O. In 1850 the value of the
slaughtered animals was S57,3o7s77; in
1860 it was SlOe,414 l2s.
We come now to vegetable products In
1910 the number of bushels of wheat was
5l,112OI4; in 1850 it was 1854, SAC; in
1860 it was 122, 2,l64,9 ,9O9. In 1910 the
number of bushels of corn was I2O,sI6,-
172; in 1850 it was 253, ,s37, ,793; in 1850
it was 415Ol2,5s4. In 1910 the number of
bushels Of oats was 74,797, 589; in 1850 it
was e6,643,O ,O72; in 1860 It was I3s, ,8O0625.
In 1910 the number Of bushels of potatoes
was s46O9, 1907 in 1850 it was $685., COZ;
in 1860 it was ss,57l, ,5I9. In 1910 the
number Of tons of hay was 0,O62,9 1888; in
1850 it was l3, ,4O8, ,9l8; in 1860 it was IL
47s,ss4. In 1910 the value Of orchard
products was IS, 722 800; in 1850 it was
81, 42,4I4; in 1850 it was Sl6, ,1ls,IIO
These facts: are merely illustrative of
the resources Of the North, and are
not intended to be complete. Mr..
StebbiRs, of New 7 York in his speech last
LAST winter, took the ratio of increase in
the value of property of the entire Union,
excluding the assessed value of the slaves,
from 1850 to 1850, as the probable ratio
for the next sixteen years, and asserted
that in 1870 we shall have $4,000, 100000
ofnational wealth and in 1880 we shall
have 10000, ,OOO 900. This seems e1trAYa-
CANT but the estimate in based upon rIgid
demonstration.
uAa E-tsa.a aezalnpanont of the country
viii be immensely stimulated by railroads
and the abolition ofElsyery. Ofrailroads,
in 1860 the North had 2O,5I7 miles of
which the Northwest had 1928. Twen-
ty years of PEACE will create network of
railroads all over the country and with
the Southern States open to free labor
from the North and from Europe, no sde-