Wilmington daily gazette., 1873-12-09

ct five per cent. interest compOunding ct fifty
year periods would In 1870 amount to ,S23, ,051 !.
32S, $40.
These statistics show that the money at hye
per cent, com pounding, increases much faster
than the national accruhl OF wealth from all
the labor thereof. And that whoever bOrrOWs
money at fiVe per cent. for Industrial purpOS0ss
pays more thaRean on the average be made out
Of 1t. except at the expense Of sOmeOther per-
son OF persons who cannot afford to Iosa It; and
that the nation that lends money at FIVE per
cent. to another nation, will In the coarse of
few years become the real owners of the
country. .....H
The loans of Great Britain 10 other countries
last year were S66O 900, 900, aHd.vere it not fOF
the annual receipts from her loans to other
countries she would be rapidly impoverished,
for her over impOrtations are annually vastly
In excess of her imports. A-
The foregoing data will help to a clear un-
derstanding Of the enormous character your
present national expenditures. s4
THE GOVERNMENT EXPENDITURE IN 1871.
AS shown by the census report of 1870 the
taxation for State, county, town and city pur-
poses was $2SO, 900 900 And Secretary Bout
well, in his Financial Report, dated Dec. 1871,
states that the estimated taxation Of the Fede-
raj government for 1871 and coming years 1t
$3l3. .O00, 900, which, estimating the population
at 40, 900 900, Is $4312 1.2 per family OF five
each, and that sum added to the S240, 900, 900,
makes the whole expenditure for Federal,
State. county, town and city purposes, $G23,
59I ,521 annually, which divided by the 40 ,O00,-
600 people, is $3.50 per head, or about S78
for each family, white, black and red, intbe
land, and as shOwnby the report, $75 peFhead
for each man, woman and child engaged In
what Is called productive occupations, or 81
per day for three months Of the year, with all
the nOn-prOducers to support besides.
YOu have above seen that when the gov
ernment expenditure during all the history of
the nation up to 1860 was only $94 per family,
that the national wealth, including the in
creased acreage Of unimpF0Ved lands. was
only $l2 per family annually, Consequently
the net earnings OF each family, after pro-
Viding food and raiment for the family, only
averaged $50 annually, of which $2+ was
consumed or expended in the government
of the country. You can see that the present
rate of taxation, or $7S per family, Is ga
more annually than the annual surplus fami.
| ly earnings during the whole history OF the
| nation up to the commencement of the wal
With the south. s...
The 40, 600, 900 of souls divided by for fam
| lily gives 5000 900, and that multiplied by the
above $42 gives 1866. 100000, as your annual
government expenditure over ana above al
the surplus earnings of the nation, which, iu
family for every family on the face Of the
globe and the total expenditure for ten years
S6, 1872 915, $40 or 81 60 annually for every fam
lly,thereof, which Is seen by the table abOvE
given is over 81 90 per family more for every
family on the earth than the expenditure .Oi
the Federal Government per family In 1889
that is suppOsing the population of the glObC
to be ,2a0, 200 goo 't
| (To BE coNTINCEDO