Holmes County farmer. [volume] (Millersburg, Ohio) 1857-1926, 1866-01-18

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RECKLESS WASTE or THE NATIONS TREA.
SURE.
It is further true that the expenditures
caused by the war, were unavoidably large
but is there II single instance in history ol
so wicked and wanton waste of "A nations
wealth as has marked the maladninstra
ton Of our affairs since 1864?
Reflect upon the fact that taking into ac.
count the difference in the rates of interest,
that the United States in less than five
years have created a debt twice as large as
that made by Great Britain in one hundred
and nincty-eight years That is, we pay
more than twice as much interest OH our
debt, as the English pay on theirs.
In our large cities there are bands Of or.
ganized inccndiarics, who fire the city, in
order that they may plunderit of its riches,
while good citizens are engaged IN extin-
gushing the flames. And so was it on a
larger scale citizens, during the terrible
war which dronchcd our land in fraternal
blood. While our soldiers were battling for
the Union, men high in power were robbing
the country Of countless millions, and by
wanton waste and plumber, debt has been
built up, and system Of taxation has been
put in force, which for injustice, favoritism,
and oppression is without u parallel in his
tory.
MAGNITUDE or TIE DEBr.
The almost measurclcss size of our Ma
tional debt, will become more apparent by
comparing the expenditures during the re-
bcllion, with those incurred during other
wars Of vast proportions. From the begin
ming to the conclusion of the gigantic con.
test of twenty years, in which Great Britain
,,r,,,,I ,pt1, hn o., N,,11>.,, 4.
kept afloat the largest navy the world had
ever seen, and on more than one occasion
subsidized the armies of Russia, Prussia,
Austria, Spain and Portugal; and main
tanned an empire so extended that 'the
martial music of her reveille met the glorious
sun in his coming, and keeping company
with the hours, followed his course as he
circled around the globe" and yet her ex-
penditures were but little greater than those
Of the United States during our four years
of war.
And during her seven years war against
her colonies in America, Great Britain ony
expended five hundred and thirty two mil
lion dollars; or two thousand four hundred
and sixty eight million less than we cxpend
ed during the late rebellion; although Eng.
land had to convoy her armies and supple.
across the Atlantic ocean,
| But let us fort moment glance at the fl
nancial record Of our own country. The en-
tire expenditures Of the Government of the
United States, exclusive of payments on the
public debt and trust fund, from the incom
ing of Washington Administration lT9S
until the outgoing of Buchanan's Admin
istration in lS6l-d period Of Screnty-tu,
years--was only one billion, three hundred
and iifty-one million, five hundred anc
twcnty-siX thousand, six hundred and for
ty-three dollars. And hence the Admins
trations ofWashington, John Adams, JET,
terson, Madison, Monroe, John q. Adams,
Jackson, Van Buren,, Harrison and Tyler,
Polk, Taylor and Fillmore, Pierce and Bu-
chanan, cost the country sixteen hundred
and torty-eght millions four hundred and
iiity-seven dollars less money than the liqui-
dated debt created since the incoming of
Mr.. Lincoln Administration.
And if President Lincoln had the late re
bclion to fight, so had the other Presidents
to deal with Shay : rebellion, and the W his
ky wal; the war with the Barbary States,
aud the three years war with Great Brit
ain; the thirty years Of Indian wars; the
two years war with Mexico, and the cXpe-
dition against the Mormons.
Then, citizens, to rccapitulate Within
a period Of five years, the United States will
have expended nearly as much money us il
cost Great Britain during an incessant wal
Of twenty years, in which all Europe Wa.
involved.
Daring the late rebellion, the United
States expended two thousand, four hun
dred and siXty-eight million dollars more
money, than it cost Great Britain to prose
| cute her seven years war against the Colo
MES.
President Lincoln's Administration cx
pended sixteen hundred millions more money
than all the other Presidents expende,
during their entire Administration Of sven
ty-two years
TIE STATE DEBTS.
Nor is the National debt the only mort
gage which rests upon the land, upon tht
enterprise and industry Of the people.
The debts Of the individual States amour
to at least two hundred million dollars, ex
! elusive of the repudiated war debt of tht
Southern States.
MEASURE OF THE DEBT.
| But, citizens, the debt iss enormous tha
| the mind forms no conception of its magni
tude By simply hearing the figures named
, Let us then apply to it some comprchensi
! bic measure.
I According to the census report for l6GC
! (sce Childs' National Almanac for 1864
| page 50), the value Of the real and persona
property ofthe United States, at that date
amounted to fourteen thousand, one hun
drcd and eighty three millions, two hundred
and fifteen thousand, six hundred and TWEEN
ty eight dollars. Then, without making any
deductions for the ravages and destruction
of property caused by the war, except the
obliteration Of slave property, which was
valued at four thousand million dollars, and
after taking that amount from the aggregate
value of the real and personal property, it
reduces that value to ten billion dollars. -
Then, taking the liquidated debt at the adj
mitted figure Of three thousand millions, we
see that since 1861 we have expended the
value of nearly one-third Of all the property,
real and personal, in the entire country.
THE MISTAKE
But it may be asked whether our affairs
could have been more economically con
Quoted? \ tax should have been levied
commensurate with the emergency, and
gold could and should have been borrowed
in Europe at 6 or per cent. Could this
have been done? Yes nearly all the gold
the Confederates used was borrowed in Eu-
rope, and not only that, no inconsiderablc
portion ofour own debt is now owned there.
But instead of pursuing course dictated
by sound economy, the Administration
adopted the plan Of the money lenders of
Boston and New York, and the country was
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