Sunbury American. [volume] (Sunbury, Pa.) 1848-1879, 1867-05-25
Why the National Debt is Iscir..


The fact that the people of the United
States have already paid off 1926, ,O00, 900 o.
their national debt since the return of peace
excttes the amazement of the statesmen oI
| Europe. On the occasion of the presenta
tion of the annual budget in the British
Parliament for the current year, by the FL
nancial Minister, Mr.. Gladstone referred to
the deot-paying power of the American peo.
| pie, and uttered glowing eulogy upon the
! greatness of the Republic of the West. The
British Government has not reduced its
| debt during the last twenty years as mucl,
as ours has been reduced within the past
eighteen months. The rapidity with which
our large debt is melting down, is marvel
! in the eyes of other nations. They cannot
comprehend how it is doue-or how we are
able to do it without utterly impoverishing
the masses of our people with taxes The
Governments of the old world find them
selves scarcely able to meet the interest Of
their debts, and with the exception of Great
Britain and Prussia, the debts of the other
powers are steadily increasing
larger year by year, and that, too, in time
of peace.
But there is an easy solution of the enig-
ma of American success in reducing the
national debt 1t is simply this-at the ter
mnation of a war our Government immodi-
otety disbands ats army, ercept a .te,c regi-
ments and sends the men home. and reduces
ITS nary to a petce .tootin9. Therein is the
secret of our debt paying capabilities. The
money which European Governments ex-
pend in maintaining huge armies and navies
Ill time of peace, our Government applies in
the liquidation of its debts
After the close Of the war with the rebels
not day was lost in payirg off and dis
charging the soldiers and seamen in the
public service. All the rebel prisoners were
discharged and sent to their homes all tie
Confederate soldiers who surrendered were
instantly paroled and allowed to depart to
their places of abode. Within few months
after the capitulation of Lee and Johnson
100000 Federal soldiers were settled with
and returned to their homes, at public ex-
pense. Before the end of year less than
$4,000 men remained in the army. That
number has been farther reduced until the
standing army is cut down to less than 40
600 men, and after the reconstruction of the
rebel States has been completed, it will be
reduced to 10000 rank and file.
or the 600 vessels of war in the service
when the rebellion collapsed, not more than
100 remain in commission. The Govern
ment is no longer obliged to support a mil
lion of soldiers and one hundred thousand
seamer on the contrary nearly all those
able bodied young men are now not only
supporting themselves, but helping to sup
port the Government.
France, with population of 100000
OF people, maintains an army of 100000
men in time of peace, and navy to match.
The United States with population almost
as great, keeps up an army of barely 10000
men, and navy in proportion. 1t takes all
OF the surplus earnings of three men to sup
port one soldier. To maintain a force of
10000 men absorbs the surplus earnings of
10000 citizens. The same rule holds good
in France, Germany, Russia, Great Britain
and any other European power. The French
standing army of 400, 600 men consume the
surplus earnings of 100000 Frenchmcn
working in civil pursuits. This is an awful
subtraction from the productive industry of
that people. But the loss is even greater
than we have stated, for that nation loses
the wealth which the 1000 vigorous and
robust young men, if not in the army, would
produce. Hence, the military system of
France destroys the surplus production of
more than million and half of workers,
while the military system of the United
States subtracts but 0Re,tehth as much from
the wealth of the people. Suppose we were
maintaining a standing army of 100000
men, how much of the national debt would
the Government be paying off annually 2
Not dollar; but, on the contrary, the debt
would be increasing, as is the case with the
French debt, and instead of Congress re-
pealing fifty millions of taxes each session
1t would be obliged to levy heavier excises
and imposts each year, just as the French
Government is doing. The reason the Bri
tish debt is not increasing is, that their
standing army is much smaller in proper
tion to population than that of France, and
trade and industry is less crippled; but if
the army and navy of that nation were re.
duced to the same strength of ours, Great
Britain could pay off her debt in a few
years, without increasing taxation or har-
rassing her people,