Washington telegraph., 1865-06-28

s1s szzsk -sz.a@
Tur NATIONAL DEBT.-Just before
cIose of the war pamphlet upon the
I,,;onal debt, was issued by Jay Cooke
General Subscription Agent OF the U0'-
.nment Loans. As it was written Tor a
.pecial purpose, 1t is of course IN some
i.gree a piece of special pleading ana
asr-fors less satisfactory, than II pro-
,,.ad bv some calm disintsrested fnan-
Still it contains much really valu
4. information which may be relied on.
r. give some extracts
The public debt on the 25th Of April,
so was officially stated at 1923, 299,
= and on the 10th Of April, 1868, at
52q 497, ,359,-an increase in $50 days
sI.I69,I35 per diem. On the 26th of
,oril. 1864. it was SI.657,S15, I05,-an
.,asse in 38l days of Sl,SS2,723 per
I'm On the 3lst of March, 1865, it
nod at 81, ,365,955,O77, increasing in
20 odays at the average rate of S2,094,-
n pr diem.
Estimated Aggregate at the Close Of
Z Kar.-lf we take the highest, as
IN as the latest, of these average rates,
q. the probable daily accumulation for
!, remaining term OF actual war expcn-
.rre. and fix the limit of such main
,i,ed expenditure on the 1st of July
-s1t. ninety ene days after the last re-
NIT We have the additional sum of
$780, O627, ,52S, which will bring the debt
If, TO total of S2,557,6O5 at the date
,ssumed. And let it be noticed that the
:tatpments from which these figures are
AIKEN. embrace every item of debt known
70 lhe Treasury DEPARTMENTAL bonds,
notes, temporary loans, certificates of in
debtednesS, fractional currency outstand-
ing, and all requis tions of the War, Ma
W. State, and Inte ior Departments, ly-
isg uupa upon the Secretary's table -
N worl-ali the liabilities of the Gov
nnsnt Of every kind, except claims not
pssnttd, arising upon running con-
rts and services, unsettled ar not ma
ngd.-claiIns to become debts when as
s-.a.ned and ready for payment. Those
slo have the least acquaintance with
.-,ss unknown prospective claims, will
-a them at the highest figure that fancy
aa represent as possible; those who have
the b-st meaus of forming a Judgment
bgute most tn name sum; but we
i,al that the widest viii be satisfied
With the addit on of the cnnjectural
Ai2417395, which are required to
hin, the to al probable debt 10 the round
la Of $4,000, 700. when all is set
lei known, and provided for
4noi-aA and BRITISH Experience Of
ysti5aai De5ts Nothing in our own
q, rxprr ence helps much TO all ade
l.., comprehension Of our present : tu-
an except by the inrasai ement 81 pro-
prus rendered difficult hv u vast diff
.--gc,. of uoudi ions. In 1916, We had
Is d-0t of SI2T.000 600. which WAS az
resage charg,- at Sl4 81 per head upon
-e entire pop lation If the Union, and
z per- cent upon the estimated vain" OF
slihp property of the people; but our
as,gmei debt of S3.000,0O0 600 would
be Is pr cent of the present wealth of
tie lnvaI States, and $9S62 per head of
t4eir population. The debit Of the Revo-
Iu.an, and the war OF 1912. vas wholly
discharged ia nineteen wears, from the
~inagv sources of revenue; and though
s.ain fraction ri half as great bur
aaaqon the capitai wealihof the people
vss never felt by anybody; aad at the
Of The term Of payment, The first
o5!e and alarm was from Il surplus of
l0nue of S40,OOO,OOO, or one-third of
asVhole sum which hal so long encum-
Ssri the Treasury.
Difference 9t' C9nditioas.
Ia 1916, at the close of the twenty-five
,sas war with thef'rench Republic and
Lupiyc, the British debt was S4.2O5,-
o9O0O The entire wealth of the United
Al.lom was then. according to the re-
0Tei estimates, $500, 100000 less than
i.' Of the loyal States in 1850; the
@r;e per head upon her total popula-
To- vas S2lS 90, and the encumbrance
,.oa the total wealth of the nation 40
W per cent In the fifty years since
ar Battle of Waterloo. her wealth has
,AFn at slow but steadily increasing
'' iron 20 per cent in the first, to Al
fent. in the last tan years. that is,
l-asing in the first decade about S2,-
'sOIOOO0, and in the lat quite S9,-
3OOIOO0
Inference bc'2sccn PriacjpaI and In
''@ ~ rr5t'i0a IN Re5onrres.-The BRr-
'o' p;hic debt is not at all under
va n'Friv by the figures wl;;ehi *
.'' us Al nm, .:or = tb- PER capita
st7 to = 'paiatjon mr. yet by It's pro-
nv .;,o' To the oat'tal v,rlth upon which
t,J. 'JC..-re /. The payment Of the prin-
=" hy tc terms Of the contract,
't'-1t tor longer or shorter period,
70 = tFaTeEumeut in good credit, the
s,H rgI' &'9ent may be further protracted
1 1H p] anil, while thus not demandable
IT. Pa9tc creditor, may be treated as
| b.r,5I1 51ga IN expectancy only, or, As
j r y " r'ufiag the in a.val i. did not ex-
iorn y. ,AEual interest accruing is the
mil a. e.4 Its actual pressure takes, and
\ stis, i ne Of reimbursement, it has no
/ 5e. Il. W VI al practical purposes, .here
| N.sis aspect which the problem pre-
Ns4, Hp' the proportion of debt to
EsI, s;. gpf the proportion of the cur
a0ee et 70 the current annual pro-