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

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WEDNESDAY EVENING. MARCH go
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Oar National sDebt...,rhe Proc.
pect.
The L. :. Senate has agreed 10 resolu
lion ius,ruc,ing one Of its committees 10
bring in bill to reimburse certain people
OF Tennessee for quartermaster and CON-
,nissary stores taken and used in that State
nv the Federal army. II this action 10 fcl>
loved up and natures into an act Of Con>
.res.. says the 81. Louis Republican. we
shsll have precedent set, which cannot
Consistently or deceutly be disregasdsd, for
drst. upon the Treasury which will con.
mel a resort to another loan ~ large % any !,
raised during the war
In thi. connection We confsas ws cannot I
hslD ioi.iog in the laugh Of The New York
T;ms, ., the expense Of Kelly, Of Psnnsyl>
vAnis, Who wants to commit Congress 70
declaration that the nation 10 not bsund 10
paw ito debt within ths next thirty yeats,
end OF The Nsw Yo,k hibuss which clam
ors for its immediate payment We agree
that kslly's alarm lest the country will psy
OF theaiebt very soon. and the 7ritxne's
. arm est il will not are very absurd. Heavy
TAXATION may slice of the debt 81 one end.
but heavy appropriations by Congress will
piece Il more extensively ct the other. Its
said that the bounty bill Of 1866. added
eighty millions to il. Other bounty bile
are urged upon Congress with great proba
b.litcs of success. Schenek's bill, which
Ls says will 'de 10 begin WITH" will add
perhaps, four hundred millions moro, and
Banks jovially exclaimed il VAS 81! the same
% him whether Il vas four hundred and
eighty millions or eight hundred and forty
.pllhons. Other members are incubating
measures Of similsr character, which they
hope 10 hatch iate life. These measures il
IA dangerous to oppose They are ostensi.
bly, for the relief Of tho although
sht.e>quarssrs Of the money they will draw
from the Treasury will be paid to spscula-
toh in soldiers claims.
Then there are other propositions. Mr..
Blame viii press his bill 10 saddle the Fsds
eral Treasury with host otheavy debts in.
CURED by the States. and BY counties and
cities in aid Of the war. Ia sdditios, 10 the
proposition 81 milas 10 the one which seenl
70 have found lavss in the Senate. 10 psy
for property token or destroyed during IN,
was.
What 10 the aggregate Of oil the claim
which must be paid. il Congress passes th
bills which viii be pressed upon 10 consd
ssAticn. Il 10 impossible 70 say. But "
presume il IL not sxtrsvagsnt TO say ,ha
Il would double the present national dstt
Further. in considering the chances Of tn
payment :of this debt. We should take int
calculation the possibility. nav. probability
that our county will be involved in for
slgn war before many years roll over it,
head. Democracics are tar from being tn,
most peaccable VI Governments, and IL any
one wants evidence that ours is an intern
pirate and violent people, he may look .
the character and demonstrations Of lsrg,
portion Of those WHO WELD political powe
among us. That We may lie involved In
war which may add enc OF two tbousan,
millions to ourspresent debt is among m
probabilities Of the future.
Upon the whole. nobody among us nee
alarm or console himself with tho An,cipa
ton that the debt Of the United States il 4
be any less than /. IL to. day at any tim
within the next ten, or tsenty, Of thirt,
years Wa do not thereby intimate .,
opinion that the natisn will repudia.s il
dsbt. hut that our people will be 10 deb
Ms nation ~ least twenty Ave hundses
millions Of dollsrs thirty years hence m,
pe,haps double that, amount thirty year
thereafter. Ne have no great doubt; bu
trust. and are hopeful enough 10 belisv
shs, the Federal coupons win be paid pune
tuallv. The sooner our peop'e settle dow
to the belief that the nationa
debt ia = perpctus one. che better II will
Tor them That belief win have some tend
sucy TO discourage any very heavy an,
walton addition to il, and will make taxa
ton more moderate.