The Cadiz sentinel. [volume] (Cadiz, Ohio) 1864-1911, 1865-05-17
EatIenal Debtsana Q. S. stock..

The creation Of nstional debts is not a
niodefn improvement but the ability Of a
great nation to provide for . great debt
and 10 finske il the most CONVENIENT and |.
best loFnl Of personal property, Is a modern
WONDER The'de ht-of 7Grekt- Britain swaEs
begun BY raising nilliop sterling by insE(
10 1872, and when her great contest with
Louis NV. was Terminated, ihe-debt had
reached fifty millions, Many statesmen
and econofnists were then alarmed at thu
great burden which had been imposed dpoH
tbcindustryof Of the country but when the
war of the Austrian succession had sWelled
this amount to eighty millions ,Mscaulsy
says that, historians and ORATORS pronounced
the case to be desperatet BIT ,whan war I,
again broke OUT aud the national, debt was
rapidly carried up to one hundred aud forty
millions, liaiI Of theory. and .bnsihess both
pronounced that the iafal day had reeftanlF
| arrived DAVID Hupe said that, Although,
by taxing It's energies to the utmost the
country might possibly live through il, the
experiments must never be repeated, ,--even
ii small increase might be fatal. Granville
sald the nation must sink under it unless
some portion Of it was borne by the Amer
lean Colonies, and the attempt to imnose
thisload produced the war Of the revolution
and. instead of dir2Gasbapgs added another
hundred millions to. the burden Again, $
says MacaulaN, was England given over, but .
again she was more prosperous than eFer
before, But when at the close of her Na<
poleonlc wars IN 1916, this debt had been :.
swelIed-up TO the enormous sum of over
elght hundred millions sterling, or four
thousand three hundred million dollars, or =.
noarly one half the entire property Of the
United Kingdom, the stoatests :heart,th his
irmeSt believer ID rational progressaRd ma
tIonal development, might we'll have beeH
appalled,. But in the very face CT this
mountain of obligation-to say nothing OF
her vast colonial possessions-the property
Of The British nation has hecn more than
treb ed, and her debts now charge of'butc'
l29 per cent against it, All that Great
Britain has done in paying her debt, We
shaIldo, and more, with ours. We have /.
vast territories untouched by the plow, p
mlnesG all precious metals of which We ,
have hardly opened the doors population :
full of hfe, energy, enterprise and industry;
and the accumulated wealth of money and,
labor Of the old countries pouring into the 3
lapoF our giant and ever to- be united re-ssz
public, During The fercest and most ex.s3
hausting of all possible wars, we have ds.ay
monstrsted our nationsl 2strength-srd all
the world over, national Strengths but an ;
other name for national credit. r''As gondaf
as United Stocks will be Synonymous tho
world over with "as good as, British Con-
soils. p. For our part, we think g. So
treasury note. bearing seven and three
tenths annualinterest, is Just as much bot =
ter than British Consols as the rate of in5"a
terest is higher Some of our timid breth- (
rem, who shipped their gold-to London and 2
invested iu consols, are now glad to sell out
and invest at home at a round loss--and q
serves them right. .-Nt7o Yorker. =. y