The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1873-01-22

AHlSHtDOOU from tDo DrltlSn GOVern
ment, but which has been proved b,
evidence which, among military men
is said to be incontestible, to be th
creation of an American inventor
Everywhere in. the fields of England
France and Germany, may be seel
implements of husbandry of:Americal
Manufacture; while American enter
prise and diplomacy have unbarre,
the gates that secluded the ancien
people of the East from a free com
merce with the Western nations, an.
American fabrics of every class ar
now widely and rapidly exchanged
for the products of the Orient. Whil'
. such are the magnificent achievements
of our country in all the arts tina
contribute to the advancement ant
elevation cf mankind, the product:
of its agriculture are no less startling
in their magnitude than those of4it:
manufacturing skill and resources
The statistics of population embraced
in the eighth and ninth census of the
United States, (Which form most
interesting study show that at the
annual mean rate Of increase exhibit.
ed during the past two decades, the
population of the republic will prob.
ably. exceed 100,000,O00 at the close
of the present century, or within the
next twenty years Yet great and
wonderful as has been our augmenta.
ton in population, the ratio of in,
crease in our. agricultural products,
used as means Of subsistence, has
nearly trebled our ratio of increase in
population. Coincident with this
excess of production over consump.
tion in our food supply, we annually
export over 1925, 600, 900 in good value
of, cotton, the fruit of that providen-
tial plant which has it's natural and
invincible empire upon our soil, and
which has the clothing of man en-
folded in its snowy chambers. The
value of cotton exported forms about
sixty per cent of the crop of, 1871,
and together with other articles
the growth, prodnce and manufacture
Of the United State-gives the total
value Of our exports to foreign coun-
tries in that one: year the enormous
figure of about s540,Ooo,o0O. Com
bincd with these immeasurable indus
trial resources, our favored land sur
passes every other country in it's
mineral wealth, and especially in its
yield of the precious metals, supply
ing gold and silver for currency and
the arts, at the rate of about SIS, 5,OO0,-
900, Being fully one,third of the whole
yearly treasure! product Of the earth.
These splendid possessions and varied
resources, together with the enlight-
ened population that utilize them, are
embraced within the limits of thirty.
seven States and eleven Territories,
having local governmental organiza-
lions, constituting this grand republic,
of which it is our inestimable good
fortune to be citizens. This powerful
nation has no slave within its wide
dominion. It's vast fabric l,reposes
upon the intelligent and loyal devo-
'tiom Of Tree people, and It's elective
rulers govern by the guidance Of the
benign maxim that all governments
derive their just powers from the
consent of the governed" - This
mighty federation Of free States is so
powerful in its recognized resources
for war, that there is no government
strong enough TO attack it with impu-
nifty !; and yet it is SO just and reason
able in the exercice Of that power,
that there is none so weak as to feary
its advancing sway Let us endcay-
or, fellow-citizens, to make our State
"a worthy and respected member Of
this mighty republic, and prove by
our cohductthat we rightly value the
sacred privileges of a citizenship
which both protects and exalts.
The debt of the nation, and the
mode adopted for its liquidation, can
not be. a matter of Indifference TO
'ony Of our citizens, for the debt must
necessarily be reflected in the national
system; of taxation. both direct and
indirect, and its prompt and certain
payment involve the faith and honor
of the public. I have received from
the Hon. George S. Boutwell,, Secre-
Itary ofithe Treasury, a tabular state
ment Of the public debt of the United
States, ''exhibiting, with great minute
ness, all classes of outstanding obliga-
tions, both interest bearing and non
interest bearing. together with the
amount of United States Treasury
notes, outstanding December l, 1872,
and showing, by monthly periods, the
reduction Of the national debt, from
March !, 1869. to that date. Ipre-
tsent for rour information the following
summary, derived from the very
elaborat, tables accompanying the
circularof the honorable the Secreta-
ry OF th' Treasury. .....
/ Here follows tabular statement
of the d6t. which we omit
1t will be seen from the.foregoing
statement, that on the lst day of
I Decembes 1872, the total debt, with
1.-THE interest accrued to that date, was
Is2, 263,7A, ,7S5. l6.. The present Ma
tional ADMINISTRATION has decreased
the total aebt, since March /, 1869, TO
December 1, 1872, by the stupendous
amount of s364, s95, ,229.69, thereby
Ilesseningthej annual interest charge
sIby the gum of S24,2S5;06S. The
Iannual Interest ON the debt, as it
stood on t,e first day OF last Decem-
Der, was $4,529,s 9,s59.2s, and the cash
lin the Treasury at that time was
s103, 1856, ,T1,s4 The total debt on
the 3lst lay of August, 1865, was
ts2, ,845, ,sO7526.56, and the cash in the
lTTS !