The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1868-09-06

Of that circalation In increased prosperity.
The Government = ID Oh IL soldiers ont III
that four billions OF dollars. And the mone
became theirs, and they circslatsd i ~ mas1e
ni.;ne themselves and their families out 81
Il, md BY saving il and usins il to ~ ena
cullivats ID nds, open farms, and mines, sssao-
la manufactures and start themselves, O.
nafntAin themselves in business. Thereby
ehd eonnfrx i richeS,~s,QRt 81 that tow Rle;;J
3 j. I'd a1iiUfIVSFs paid, md thsy havs assd
i y tho sol11bs I've. d1se in increasisg the
uirsplation of yelsss and adding to the pros.
psftYu = Sdsc0uutsy. Out of that four bili-
ions msehsaia "a r taildefs verg
fof the construction Of ships and gunboats
and transports and they used the money fof
inoreased production and so enhanced the
of the country. Out Of that four
bi1ions the vool.grower vas paid, ana me
cl(ahiees ~ paid. ssd ths 1T nAk ~
paid. 5nlshJ bdStd er~a6 ~ Del
wagon shaker was paid, and 'thsS owners OIL
bqses. mules and oxen were paid, and oil
Those used the money to increase the wealth
and prosperity Of the country. In fact the
money expended BY the Government was ex- !.
psnied in this country, il was distributed
among our own people. twas in no sense
destroyed, az is shown by the prosperity.
which has come to the country from the ex.
pnditure.
s The debt has two elements; irst borrowed
money; sssond, Tho Gossnmsnts rronisssto
psy, that IL, credit. These sogsthsf Ssrp the
entire debt. The Government borrowed the
mpst of this money from part of our own
people and paid it to another part. Nov, II
The latter have made just a. profitable uss OF
it, interest included, as the former holders OF
it'would have done then the country is neither
richer nor poorer by the transfer Of the
money from the former to tho latter. II
these make more profitable use Of it than
tho former would have done, then the coun-
Try ID pro6ted By the change Of owne1. It
is ID this respect that the great expeadiMre
by the Government in the war has proved d.
rectly beneficial to the people and the well
fare Of the country. The money was bor-
rowed from capitalists and from farmers,
etc., who were simply 'laying up their
money. 1t was Distributed among young men
and laboring men in the army and out Of the
army; this gave them fund--a working
cApital-wbich they could not otherwise have
become possessors Of, and they have used it
10 farming aud other occupations, and thus
wealth has been diHussd and multiplied. Ev-
cry one knows Of young men, and laboring
men, now well started in business, and adj
ding to the growth Of wealth in the
country, who would not have had their
present start but for the money they
got in the war. This money has to be paid
back in taxes, it is true, but the interest il
bears is only six PER cent. If the debt is
funded as Republicans propose, the interest
will be only four per cent, or less. And II
the country makes good use of this capital
which the government has given it, BY the
time it has to pay the government back the
principal it will have more than doubled the
principal and made it pay ten, twenty, or
City per cent, interest annually besides. 1t
/ is just rs young man may borrow TIVE thou
sand dollars, payable in FIVE years, and buy
farm whit. At the end Of the five years
he has to pay the two thousand dollars; but
If he has been industrious and careful he has
the two thousand dollars and his farm too,
and he has moreover made the farm keep
him during the FIVE years. If the country is
wise and industrious, when the time comes
to pay back this money it will DO the wealth
Ter for having borrowed it.
Six hundred million dollars Of the debt il
money borrowed in Europe. It il borrowed
st the rate Of six per cent. It has bean dis
tributed among our people. That is . work
ing capital this country would not have pos
sessed if it had not been borrowed by our
government. Our people have it now, how
ever, and are using it in farming, mining,
manufacturing, and other productive ways.
making it pay them fifty or hundred per
cent. prof. annually. II they continue to
make thus good use Of it, by the time
we have to pay the principal back to Europe
we will have made it worth to this country
double tina. principal.
The other element in the debt is credit
that is, greenbacks, and the other promises
to pay which the government has issued.
Now this which the country has for q CAPT.
tal and working fund, IS an out and out ad.
dition to the wealth Of the country made by
| the government and the debt. Credit is capt.
tai, every business man knows that. Now in
addition to what this country was worth, the
government has given it additional capital,
by giving il its credit to the extent Of bill
lion Of dollars. That has to be paid back, to
be sure: yet it il like any other credit, it is
worth just what we make it worth. And if
the people use it well-and they are using it
| well-they make il clear addition to their
working capital of one billion dollars. So
productivity used, by the time the people
have to pay back that one billion dollars OF
credit which the government has loaned
them, they will have made it worth to them
three or four billion dollars.
We have given but suggestions in this ar
tcle. If thoughtfnlly considered, they will
discover why the country is prosperous, de-
spite the debt. They will equally make it
clear that if the people keep faith with the
government, and the latter with its creditors
and all the people are industrious, and unite
in using the capital Of the debt to increase
oar wealth, the debt, instead Of ruDin. he
natioh will permanently increase its pros
perity.
In another article we sha'l consider the
proper Treatment of this debt in the future,
and its payment.
SEYMOUR, let it never be forgotten, told the
people Of this country that the coercion Of
the Rebels BY the 6 Government Of the United
States was equally revolutionary With the
Rebel movement. And furthermore, Sey.
mour proclaimed that it was better TO let the