Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1865-11-15

fpterrst ................... 99Se7. ~ IS
Deb. on which interest has ceased kss., az %
Debt bearing no interest. ....... S6s ss1. 0e3 g
fetal snouIt outstanding. ss54!,s,7.7sSsH
These figures rspressnt stupsndous sum,
and Il hao besu fashionable a0Oag Ger
tain clsss u men 70 predict that the United
Ststes would never ply their debt, bat that
national bankruptcy would b the inevitable
~ ult Of the war. Now let u 80 hoe far
the predictions Of these croaksn are likely
TO be boris oat BY facts.
The statement Of the public debt on Sept.
80 st,owo . reelection On thai, Of dug. sofa
of no less than el2, 742, 900, and Of interest
of over $500, 900. Thus in an interval Of
thirty days the American 60 eminent has
ssAased &c de0t over two soakt hAlf mil
lions Of pounds sterling. This fact is most
gratifying and assuring Tho rebellion is
dniahed; the armies Of the south re dis
banded the states lately arrayed in oppo-
sition to the national authority have retures
I'd TO social order and com0crcial and in~
dustrial vigor, and the tax.psying powers
q The stsssss already 10 sTsAd1y and conspic'
uously demonstrated, will in future be aug
sment,d instead Of Diminished Thc revenue
1rsturns for the quarter ending Sept. 30 show
= result entirely unprecedented in the his
tory Of any country. They ARE as follows :
Customs paid in gold :. 3.'$se. 1876 .452
internal revenue in currency. $4,000. 900
Thus the revenue Of the country for the
last three months is nearly el4O, OOO, 900, or
at the rate Of $500, OO0, 900 per annum.
England owes debt Of ESOO, QOO, 900 ster-
: nng, while her animal revenue Il gi1y about
f7O,OOO, 900. The United States debt IL n
third less than that Of Enelsnd, while her
revenue IL more han two thirds greater,
amounting to more than 81 100000 stcr
ling per annum! And this. too, ct ,
period when she Is just emerging from her
troubles, and when her trade is only Just be
ginning " recover from the prostration Of
the war. Indeed. judging from the results
already attained, IL not too much To expect
that the annual revenue Of the United States,
without additional taxations, will reach
fl30,000,O00 within the next two years
And even allowing nothing for increase Of
wealth and population, And consequent in
crease Of revenue, the entire national debt ,
II reduced only at the average rate OF the
lato 30 days, will be cxtinguished within 20
years!
These are plain unvarnished facts, and
they cannot fail to have their due effects
upon the capitalists Of England. The
American secretary Of the treasury has
plainly declared that he does not desire that
dollar Of the national debt should be tax en-
IN Europe. Nevertheless. capital is not
Oouno by notes OF nationality. Its natural
tendency IS to seek the best market, and it
IS - natural for English capitalists to invest
~ the national securities Of the United
States, which guarantee such returns for
nDOnev AS no other Investment in public Sc
curitics in the world offers, as it is for water
to seek the level.
We have thus given some idea of the
present prosperity Of the United States but
we should be accused Of cxtravagance il We
were to write as they deserve Of the astound
ing mineral and agricultural resources Of
the country. Take the coal and iron trade
alone. The coal area Of Great Britain is
6,4OO square miles that Of the single state
ofPennsylvania upwards of 49, 900 square
miles, or more than double that of Great
Britain. Coal and iron are the foundations
Of England greatness. and in both these re
sources England is surpssSy by the state
Of Pennsylvania 1t is true that these great
interests are not fully developed, but the ra-
ito Of their progressive development for the
the past ten year has been astonishing be-
yond al computation. The United States
ore also increasing in population beyond the
widest conjectures Of dreamers : few years
ago. No one who knows anything Of the
great agricultural aud mineral resources Of
the Mississippi and Missouri valleys. and o.
the vast tide Of Immigration constantly
pouring into those regions, can doubt thai
the country will continue 10 increase in pop
ulation even in excess Of its present ratio
which within three decades will give it q
total population Of loo,0o0,0o0 and up
wards.
And yet there are some who cay thai
America cannot pay her debts
THs Washington y. C. Republican of the
18th learns personally from Col. 9McPher
son, clerk Of tue house, that he does moi
hesitate moment t, say that his path is
simple and clear that he has not only no
the right nor the desire to enable person
claiming seats FROM the late insurgen
states, but that a law Of congress exist
positively prohibiting hin. from entering
such names. While member of the hous,
he assisted in making the law referred to
and he thinks that it is just in. 10 spplica
ton to him in its present relations to con
gress. He will, therefore, leave all mem
bers coming from the rebellious states tc
present their credentials through other