Pomeroy weekly telegraph. [volume] (Pomeroy, Meigs County, Ohio) 1860-1866, 1865-06-15
The 1905 and the End of the War.

The greatest war of modern history has
ended in triumph. The country has demon
stratcd the vastncss OF its power. we knew
it was great; now all the world knows it. Our
neighbors across the water, who said our very
greatness was our weakness-that we should
never hold togethcr--that we must fall to pee
es, and very small pieces at that-now take
off their hats and beg to assure us OF their
most distinguished consideration" Verify
q Young nation that can raise two millions OF
fighting men and two thousand millions OF
money lust for the asking, is worthy OF being
considered They told us we could not car
ry on the war six months without begging for
loans in European markets. We did carry
on such war as they never dreamed of, for
four years, and never asked for dollar; and
they now wish to buy our bonds at an advance
of fifty per cent. over last years prices. Gov
ernment stocks are quoted as brisk and in lie.
mand, and well they may be, for the time will
soon come when no more will be offered
The national expenses will soon be down to
peace footing, and, instead of Treasury
budget of nine hundred millions, Secretary
McCulloch will ask us for about third OF that
sum. And how much easier it will be 20 raise
this in peace than in war! The millions of
soldiers who have so long mace it business
to destroy life and property will return to pur-
suits of industry, and the now ravaged fields
will whiten with new harvests. Instead of
reading every morning that so many miles OF
railroad have been destroyed, it will be that
$50 many new avenues to material wealth have
been opened" The South itself will be COM
PEELED to bear its share of the burden 1T i'm
posed on the country, and its cotton-so much
greater than gold, and still so much less than
king-will have no attribute of royalty but
what it pays into the revenue. A tax on
Southern cotton will be quite as easily col,
lected as on Northern petroleum or manutac
lures, and besides the article must be had
the world wants it
It would take but fraction of our property
| to nav our national debt now; but if we dc
not pay dollar of the principal in ten years
, that fraction will be reduced one-half-by the
development of the national resources. We
shall doubtless wini up the war and square al
accounts with national debt of less thar
three thousand millions on about Is per cent
of the present national wealth; but according
, to its rate of increase (l27 per cent? from
1850 to 1860,-in 1875 this debt will be less
than nine per cent But our ability to pay
the national debt needs no demonstration; bu
as some of us have looked upon the dark side
:, we may as well have glance at the sunshine
:, | The national loans will soon be ont OF tht
market,-but for short time the Govern
ment will need money to pay off the army ant
settle up the expenses Of the war. Only abou
s two hundred millions more of the second Sc
f res of the 7-30 Loan remain to be taken, ant
y when it is finally withdrawn, there is no doub
! that it will rise to a handsome premium, ant
s at the rate it is now going, some time within
/ the next sixty days will see the last of this Sc
C ries. Mr.. Jay Cooke, the subscription agent
o announced in February ''that the first two hun
|dred millions of 1905 will probably be tax
en- in at par from three to four months"-bu
!, they were taken in less than two. So, tina
parties who desire to invest at par in the U
s. Loan, bearing seven and three-tenths annu
al interest, and in three years convertible int
II 500 six per cent gold interest bond SHOULD
D make their preparations accordingly Man.
e of the best financial authorities believe tina
y the Government will be able to fund such por
d tons of its debt, as il may not be ready t.
e pay as it falls due, at Al per cent