The Baltimore County union. [volume] (Towsontown, Md.) 1865-1909, 1869-12-18
TdE0tiOn, the Debt and RepMdi-

| The National Board of Trade recently held
a session at Richmond, Virginia. This Board
is composed of representative merchants from
all the chief cities of the Union, and its opin-
ions may reasonably be supposed to reflect, in
great degree, those of the real business men
of the country.
| General Walbridge, of New York city, made
a speech upon the financial situation, in the
course of which he showed that under the most
economical administration there is at present
| required to be paid, in taxes direct and indi-
| rent, to the National Government, the sum of
1910 for each man, woman and child in the
country; besides State taxes to the amount of
81 per head, without including county and mu
nicipal taxes. The speaker declared that the
national debt, large as it is, can and will be
paid, and without any great hardship, by the
country growing up to 1t, through the rapid I'M
crease in population and wealth, the develop
ment of our resources, and the practice of gov
ernmental economy. The debt, he had no
doubt, would be paid off long before the close
of the present century. AS showing what may
be done in this way, he instances that the ex-
penses of administering the Government, aside
from the interest on the debt, which last year
amounted to s229,915, OsS, would this year be
very materially reduced; while in the nine
months since the first of March last more than
$7O,OO0,000 of the principal of the debt has
been extinguished.
In regard to reputation, though Gen. Wal
bridge land in his views, we are glad to say,
he was ably seconded by Mr.. Kirkland, of Bal
tmore city,) advanced nothing absolutely new,
the PRONUNCIATION of sound doctrine and whole
some truths upon the subject, at the Capitol of
the late Confederacy, by one occupying so in
fiuential position, willno doubtbe productive
of beneficial results. He enforced the senti-
ment that commercial integrity is the basis of
wealth, without which nation, as we'll as in
| dividuals, must become bankrupt; that this
commercial integrity consisted in the redemp-
| ton of every obligation. No calamity" the
| speaker said, more dire to the people of every
"section could happen than the dishonor of
"repudiation;" and he further remarked that
"the public men who now talk loudest about
the preservation of the Constitution are the
every men whosecretly contemplate the great.
|
Country, namely, the Reputation of its just
"debts"
Gen. Walbridge deserves the thanks of the
country for this timely speech, so appropriate
| to the occasion. Its sentiments cannot be too
widely disseminated or too deeply impressed
| upon the minds of the people, North aud South
alike, for it cannot be denied that great many
of the leaders, and to a considerable extent,
under their teaching, the rank and file also of
one of the great parties of the country, even in
the North, have nothing to restrain them from
publicly avowing themselves in favor of the
reputation of the debt but the fear that the
movement would not be popular with the ma
ton at large. EveS now there are not wanting
men and editors of newspapers in that party
who boldly avow themselves in favor of that
policy; and so weak is the contrary sentiment
with their political associates that open repu-
diators, like Brick Pomeroy, instead of being
denounced and read out Of the party as polit
zeal heretics, are petted, patronized, and in
every way regarded as brethren in full fellow
ship. According to our experience and obser-
walton, there are more democrats who favor the
who advocate its honest payment.
MICHIGAN LUMBER.-Michigan manufactured
last year upwards of 700, 900, 900 feet of lumber
This rate of manufacturing induced the lumber
men recently to take survey of the standing
forests and the result is that in the region en-
braced within the Saginaw district, it is esima-
ted there is 1865, OOO 600 feet standing, or about
enough to last thirteen years at the present rate
OF manufacturing. The rate ofthe inroais made
may he understood from the following
During October 10, SOP, 200 feet of logs were
scaled on Black river, and the total amount seal
ed up to the first instant was IA 500, 900 feet
This is an excess Of the total amount for last sri,
son, and IL is probable that l5 900, 900 feet more
will be scaled before The season is closed As TO-
000 900 feet more is likely 10 remain in the
booms over winter. the se,,sou's work on the
river will be about 100, 900, 600 feet of logs, in
Gliding a few million feel that were in the river