The Weekly Perrysburg journal. [volume] (Perrysburg, O. [Ohio]) 1861-1???, 1865-06-07

NATIONAL DEBTS AND u. =. STOCKS.
The creation Of National debts, says the
Nep Yorkcr, IL notumodern isaprovouncn,,
but the ability Of great nation 20 provide
for great debt, and 10 make IL t,so most con.
venicnt and best form Of perronal prop
erty, il modern wonder Tho debt ol
Great Britain was begun by raising nil
lion eieTing by losn in 1902. and when
her contest With Louis XIV was termin.
ated, the debt had reached Fifty millions.
Many siatesmen aud economists were then
alarmed at tho great turden which had
been imposed upon ,he industry Of the
country, but when the war Of tie Austrian
succession had owetied tho amount 20
eighty millions, Macaulay says that hissor-
ians and orators pronounced the Gaze to be
desperate. But when tho war again broke
out, and the natio, al debt wss rspid;y ear.
ricd up TO one hundred and forty mllione,
mon OF Theory and business both pronounced
that tho fatal day had certainly arrived
David HDmo said that, allhosgh, by taa
ing It's energies To thc ettn ost, tae country
m ght possihly live through it, tho expert.
mcnt must never be repeated -oyen q
small incroaeo nigh; be fatal Granville
said tho nation must sink under it unless
somo portion Of the load was bgrne 10y rho
American colonies, aud tho atempt to i'm.
pose this load prodaced tho war Of the
revolution. and. instcal Of diminishipg,
aided another hundred millions to the bur
dom Again, says Macaulay was England
given over, but again she was moro prosper.
ous than ever before. But when at the close
Of her Napolconic wars in 1916 this debt
had been Bwellcd up to the enormous sum
Of over eight hundred millions Sterling, or
four thousand nrco handed milien dol.
lars or nearly ono half tho entire property
Of tho United Kingdom, tho stoutcst heart
the firmest believer in national progress
aud national Development might well have
been appalled,. But in tho very face Of
this mountain Of obligation 10 say moth.
ing of her vast colonial possessions tho
property of the British nation has been
moro Uhan troblcd, and her debt is now
charge of but 1915 por cent. against H. All
that Groat Britain has done in paying her
debt, we shall do, and moro, with ours. We
hayo vast tcrfit@ries uut0uchea by the
piow mines Of All precious metals of which
we have hardly opened the doors, popu.
Iation full of life, energy, enterprise and in
dustry, and tho aocumuatad wealth Of
money aud labor of tho old countries pour.
ing into tho lap Of our giant and ever.
to.he-united Republic. During the licrc.
est aud most exhausting OF all possible
wars. wo have demonstrated eNr national
strength and all the world over, national
strength is but another nauc for national
credit, AS good as United States Stocks Y
wi}l reoa he sypoayHops Gc world over
with "us good as British Cons6ls' For our
part we think y, s Treasury notc bear
ing seven aud three.teutls aftuuaI interest,
is just as much better than Britsh Consqls,
as the rate OF interest is higher. Some Of
our limid brethren, who shipped their gold
TO London aud invested IN consols, are
now glad to sell ont anl Invest at home at
round loss and ecrves them right.