Daily Davenport Democrat. [volume] (Davenport, Iowa) 1864-1874, 1867-03-20

n. v. RICHARDSON. Editor.
WEDNESDAY kvENINa.. MARCH 90
O.r National eDebt...'rhe Proc.
pecs.
The L. 5. Senate has agreed 10 a resoa-
ton instructins one Of its committees TO
bring in bill TO reimburse certain people
az Tsnneseee for quartermaster and com.
,nisssry stores taken end used in thse State
NV IN. Federal army. II this action 10 fol>
loved up and natures into an act OF Cons
rres.. s.ys the ST. Louis Republican. We
sh.n have precedent set, which cannot
Consistently or deceotly be disrsgnrded, for
drsn. upon the Treasury which will eoU>
..l . resort TO another loan ~ large - any
raised during the wal.
IN this connection we confess We cannot
hahn Joining ia the laugh Of the New York
Tina ., the expense Of Kelly, Of Pennsyl>
,.pis Who wants to commit Congress 10 .
declaration that the nation il not bsund 10
paw ito debt within tho next thirty yeats,
and Of The New York hfSuas which clam
orr for its immediate payment. We agree
that ksly's alarm lest the country will pay
If theldebt very soon, and the 7ribmne's
arm lee. II viii not are very absurd. Heavy
taxation may slice off the debt u one end.
but heavy appropriations by Congress will
piece il more extensively ct the other. Its
said that tho bounty bill Of 1866. added
eighty millions to il. Other bounty bills
are urged upon Congress With great proba-
b..ilius OF success. Sehenek's bill, which
he says will do 10 begin WITH" will add
. .hsps, four hundred millions more, and
Banks jovially exclaimed il Vas d! the same
90 him whether il was four hundred and
eighty millions or eight hundred and forty
millions Other members are incubating
measures Of . similar character, which they
hope TO hatch into life. These measures j,
ia dangerous to oppose They are Ostensi-
bly, for the relief Of tho although
three>quartsrs Of the money they will draw
from the Treasury Will be paid to spscnla
,oh in soldiers claims.
Then there are other propositions. Mr.
Blame will press his bill 70 saddle the Fed
cral Treasury with host Of heavy debts in
Cured by the States, and by counties an
cities in aid Of the war. In addition, 10 ID
proposition similar to the one which seem
70 have found Gavsr in the Senate. TO ps
for property token or destroyed during Il
VAT
What 10 the aggregate OF all the claiu
which rnust be paid, il Congress passes Il
bile which will be pressed upon ito consi,
ssA.icn. il 10 impossible 70 say. But Y
presume il Is not sxtrsvagsnt TO say IN
u would double the present national debt
Further. in considering the chances Of II
payment :of this debt. ws should take in'
calculation the possibility. nav. probabilit
that our county will be involved in a fos
sgn war before many years roll over il
head. Democracics are far from being ID
most peaccable u Governments and il an
one wants evidence that oura is an in,cm
pirate aud violent people, he may look /,
the character and demonstrations Of IA lsrg
portion Of those who WELD political pow
among IA. That We may je involved In
WAT which may add one OF two thousai
millions TO our present debt is among 4
probabilities cf the future.
Upon the whole. nobody among us mes
alarm or console himself with tho an,icips
ton that tho debt Of the United States il
be any less than il is to- day at any tin
within the mex, ten, OF tsenty, or thirt
years. We do not thereby intimate a
opiaion that the natisn will repudiate il
debt. hut that our people will be in del
ssa nation ~ least twenty five hundss
millions Of dollars thirty years hence q,
perhaps double that. smeunt thirty yes
thereafter. We have no great doubt; b
trust. and are hopeful enough 10 belle
tina, the Federal coupons viii be paid pun
tually. The sooner our people settle dow
TO the belief that The nation
debt il a perpctus one. che better II will
ior them That belief win have some ten
sncy 10 discourage any very heavy al
~anton addition to il, and will make taxs
ton more moderate