Columbia Democrat and Bloomsburg general advertiser. [volume] (Bloomsburg, Pa.) 1850-1866, 1865-05-13
National Debts and u. s. Stocks.

The creation of national debts is not
modern improvement, but the ability Of
great nation to provide for great debt,
and to make il the most convenient and
best form of personal property, is mod.
ern wonder. The debt Of Great Britain
was begun by raising million sterling
by loan in 1902, and when her great con-
test with Louis XIV. was terminated, the
debt had reached fifty millions. Many
statesmen economists where then alarmed
at the great burden which had been i'm
posed upon the industry Of the country,
but when the war OF the Austrian success
sion had sweled this amount 10 eighty
millions, Macaulay says that historians
and orators pronounced the case to be
desperate. But when war again broke
out, and the national debt was rapidly
carried up to one hundred and forty mill
lions, men of theory and business both
pronounced that the fatal day had certain.
ly arrived. David Hume said that, al
though, by taking its energies to the ut
most, the country might possibly live
through il, the experiment must never be
repeated, small increase might be
fatal. Granville said the nation must sink
under it unless some portion of the load
was borne by the American Colonies, and
the attempt to impose this load produced
the war Of the revolution, and, instead Of
diminishing, added another hundred mil
lions 10 the burden. Again, says Macau.
lay, was England given over, but again
she was more prosperous than ever before
But when at the close of her Napoleonit
wars in 1916, this debt had been swellet
up to the enormous sum Of over eigh
hundred millions sterlng,or four thousant
three hundred million dollars or nearly on,
half the entire property Of the Untet
. Kingdom, the stoutest heart, the frmes
believer in national progress and na.iona
developement, might we'll have been ap
e palled. But in the very face ofthis noun
0 tain of obligation,-to say nothing Of hel
vast colonial possessions, ,-the property o
| the British nation has been more thar
f trebled, and her debt is now a charge o
but l23 per cent. against it. All tha
S Great Britain has done in paying her debt
. we shall do, and more, with ours. w
i have territories untouched by the plow
Q mines of all precious metals of which W
u have hardly opened the doors, a popula
tion full of life, energy, enterprise an,
d industry, and the accumulated wealth @
+. money and labor of the old countries pour
d ing into the lap Of our giant and ever-to
be united republic. During the ferces
r and most exhausting Of all possible wars
IS We have demonstrated our national strengt
= and all the world over national strengt
10 is but another name for national credit
o GAS good as United Stocks" will soon b
l. synonymous the world over with Gas goo
st as British Consols" For our part, W
y think U. S. Treasury note, bearing se'
y en- and three tenths annual interests ju
b as much better than British Consols as II
3 rate of interest is higher. Some of OF
timid brethern, who shipped their gold
= London and invested in consols, are no
b glad to sell out and invest at home at
round loss, and serves them right,