Bedford inquirer. [volume] (Bedford, Pa.) 1857-1884, 1865-05-19
THE 7.3Os AND THE END OF THE
WAR

The greatest war IN modern history has
ended in triumph. The country has demon
strated the vastness of It's power. We knew
it was great aoae all the world knows it.
Our neighbors across the water, who said
our very greatness was our weakness-tha
we should never hold together-thatwen must
fall to pieces, and very small pieces at that
no1D take off their hats and beg to assure us
of their most distinguished consideration.
Verify young nation that can raise two
millions Of fighting men and two thousand
millions of money, just for the asking, is
worthy of being considered They told
us we could not carry on the war six months
without begging for loans in European mar
kets. We did carry on such war as they
never dreamed Of, for four gears, and never
asked for dollar and they now wish to
buy our bonds at an advance of fifty per
cent. over last years prices. Government
stocks are quoted as brisk and in demand,
and well they may be, for the time will soon
come when no more viii be offered The
national expenses viii soon be down to a
peace footing, and, instead of Treasury
budget of nine hundred millions, Secretary
McCulloch viii ask us for about third of
that sum. And how much easier it viii be
to raise this In peace than in war! The
millions of soldiers who have so long made
it business to destroy life and property
win return to pursuits of industry, and the
now rayaged fields viii whiten with new
harEests. Instead of reading every morn
ing that so many miles of railroad have been
destroyed, it viii be that so many new ave-
nues to material wealth have been opened. :"
The South itself will be compelled to bear
It's share of the burden it imposed on the
country, and its cotton-so much greater
than gold, and still so muchless than king
viii have no attribute of royalty but what
it pays into the revenue A tax on South
ern cotton viii be quite as easily collected
as on Northern petroleum or manufactures,
and besides the articles must be had-the
world wants it.
Ivwould take but fraction of our prop
eTty to pay the national debt; but if we do
not pay dollar of the principal in ten
years, that fraction viii be reduced one-half
by the development Of the national re-
sources. We shall doubtless wind up the
war and square all accounts with national
debt Of three thousand millions on about Is |
per cent. of the present national wealth {;
but, according to It's rate of increase (127
per cent from 1850 to 1860,-in 1875 this
debt VIII be less than nine per cent But
our ability to pay the national debt needs no
demonstration; but as some of us have
looked upon the dark side, we may as well
have glance at the sunshine.
The national loans win soon be out of |
the market, but for short time the Gov |
eminent will need money to pay off the ar
my and settle up the expenses of the war.
Only about two hundred millions more of |
the second series of the 7-30 Loan remain
to be taken, and when it is finally with
drawn, there is no doubt that it will rise to a |
handsome premium, and at the rate it is |
now going, some time within the next sixty |
days win see the last of this series. Mr..
jay Cooke, the subscription agent, annnnn-
ced In February that the first two hundred
millions Of 1905 viii probably be taken in
at par from three to four months s"-but
they acre taken in less than two. So that
parties who desire to invest at par in the |
u. S. Loan, bearing seven and three tenths |
annual interest, and in three years, convert |
ible into 6-20 six per cent. gold interest
bond should make their preparations accor-
DINGHY Many of the best financial author
tiles believe that the Government will be
able to fund such portions of its debt, as it
may not be ready to pay as it falls due, at Al |
per cent.