Wilmington daily gazette., 1873-12-10
rna NArloNAL nAnNINos.

Nh"t Nihoo buo NhEI AoOt 70 lO(U lOclu-
sivs, that the annual value OF the principal
crops OF the nation reduced to gold value was
ia round numbers, 1857, &l4t2,0O0 00O 1868,
OoOOoO 1869, 81 l,3SOOOO0 900; 1870 81 ,4O3,-
Thus the value Of what the Bureau of ARricul.
t1se cals the sPrinCipal cFnpl" Of the nation was
S9OOO000 less less in 1870 than in 1861 and aver
aging the deficiency for the three lattsr years is
S59,OOO.OOO annually or sl56,000,0O0 tor the three.
Thus with Increase average under cultivation and |
increase population there is a wonderful decrease
Ia production, and from 1867 to the present time |
All annual over importation OF from twenty-five to |
ally.
As published in the monthly reports of the |
Bureau Of Statistics. there was borrowed from |
Europe in 1871 S,O37 $4,000 francs for State pur.
poses, and J0i26j,50O for industrial purposes, |
which together estmatel at lS1I ceuts each makes |
S1629, ,992 borrowed in that year, the expen-
diture OF which caused the apparent prosperity. |
and has hastened ON the existing hnanc distress
Yet with these facts before him Secretary Bout |
well thus states page S-in his Financial Report
for that year: "While do not undertake to state
precisely the causes which have contributed to
the public prosperity there Is substantial rea-
son for questioning the truth OF tho statement
that the last few yearl have been the most pros
porous in the history of the country years with
out example in our own affairs and without par
Allel 10 the aHArs OF any other government"
OGe thing Is certain, that the last sentence Is
true IN that there Is no parallel in your own his.
tory, or that OF any other country, IN time of
peace annuity spending $500 900 more annu-
ally than all the surplus earnings OF tho nation.
And u Is also without parallel that all the nation
al lights, from the President down to the lowest
Othoial, were utterly blind TO the growing strength
of this great national fire, 80 rapidly consuming
all the wealth of the nation.
Yet blind to fact that in place Of their being
any reduction to their national debt, all that has
been paid ON the Federal debt, and at least 50 000
100000 more for the running expenses Of the va
nNa of fln
either directly indirectly by loan from other
countries which only part of what is trnly
the national debt, and help to constitute hrst
class mortgage upon all tue assesslble wealth OF
the nation.
RAILROADS.
Ii is estimated that there arc 10000 miles cf
railroads in the United States that they have cost
$4,000 per mile, or 81, 800 900 600, OF which it is
supposed sixsevenths directly indirectly
owned By l)reigners; aud Il Is clear that all those
butt OF late years Wefe with funds from Europe,
for a. seen there has been NO net earnings of the
people to apply thereon.
IL has been the immense expenditure for their
construction that has aided tho people with the sale
OF government bonds and other securities to Eu-
rope to raise sufficient funds 20 pay the runRing
eXpenTes of the government.
That railroad expenditure has practically ceased
nearly ell the government bonds and securities
available have been disposed OF fer gold and for
foreign goods the government got the gold for dut-
:
literally deb.s contracted for war and other Of the
same debts were sold IN L Irope for gold to pay
the duties, with which the government have paid
the balance OF the running expenses thereof, after
eXhanstlng all The na,u,al result IS the financial
ruin which Is only beginning to prevail, unless
aVtrsed by statesmanship much more enlightened
than there has been any manifestation of in that
country hitherto.
The receipts for bonds and railroads having
practically ceased, consequent deficiency in the
(iAvaFbu1aut L. alreaAv in uBan
of money, and has been, and is still paying out fol
current expenses large amount OF the S4A 900 OOC
OfgreenbAcks that were redeem al aud by aOt Oi
Congresl ordered to De burned yet are still in ex
Istsnce, and their reissue becoming an increase
OF ths Federal debt.
EMIGRANT REPORT.
Your Emigrant Report for 1872 states thai
'the yearly earnings of the people averages
$500 per family of four, which is spent as fol
lows
For tea, sugar and other foreign goods
which pay sixty per eentto govern :,
ment sou W
FIouf meat and butter .............. $50 OF
Renk $50 fuel and light, S30............ 80 "
Vegetables, $50 milk, eggs, &c., $40 90 "
Sixty dollars for clothing and house
keeping % "
Total. ............................ $500 OC
1t Is thus seen that every cent that every
family in the land earns Is annually consumed
that II they lived in your country a thousand
years they would be no richer than they are
So-day yet the report was furnished to secure
emigration to the country. The sixty pei
cent. on $50 in $50, yet the report states
that each family Is worth $40 annually to the
country, and then ii states that as that $40
capitalized at five per cent. will pay the inter
est on $500, that each family is worth $500 "a
the country.
Now, $40 per family, OF which you show
only asa for the present 10. 600 900 families OF
four each Is s400, ,O00, ,O00 while as we have
seen s623 ,59i, ,62l Is annually spent for govern
ment. Hence the whole amount and more
than One-hAlf as much more Is annually spent
forgOYeFnment. Aud your calculations amount
TO this, that the $40 which the government
annually eats up will pay the interest on $500
which it never had, and that the $40 which Is
eat up Is an addition Of $500 70 the national
IftlIeFe was bottom to the bOttOmless pit,
that would certainly be it, Ii darkness begets
darkness the lights of the nation that furnish
those statistics and draw such conclusions
from them are its legitimate offspring, areeer'
talnly lights whose lights darkness, and, In
the language OF Secretary Boutwell,, the flnan-
cIAl lights Of the nation are I'm oaraleled In the
history OF their own or any other nation Is Civ
ing evidence Of the density Of their immeasuF
abe darkness.
DEP0sITs
Az that $44 900, 600 will not last long, and
the government Is becoming pinched for funds
the PFesident has propoGed to makethe govern
mont bank Of depOlil 10 despOil all the nation
a hanks Of lhOss deposits, and 10 use them
E,r government purposes, issning for them new
binds at four per cent interest, which is simply
stFalaKen % GET hold Of ell the loest
"a ncy watch the government have hitherto
bssa unable toFsach By ths tarih or the ex