Evening star. [volume] (Washington, D.C.) 1854-1972, 1876-03-01
An Outside View Of Oar GreeubaeE
DenrPetQtion

The Westminster Rerielc, the most friendly
OF the British quarterlies to America and
Americans, has in its current january
number an elaborate article upon Foreign
Loans and National Debts" in which con-
siderable attention is given to our financial
condition The opinion is expressed that we
are trying to pay of our immense war debt
TOO fast, and that though the efforts by which
reduction has been made OF f1IS, 600, 900 In
ten years on that debt are most praiseworthy,
yet the object has been effected by a Sc
verify of taxation and a mistaken system of
imposts that have crippled many branches
of Industry. alt is strange" the writer
thinks, "tO find that this people, so proud of
its position among the nations, and so anx-
ious TO relieve itself from debt, and every
thing that the condition Of debt implies,
should suffer themselves 10 be reproschei
with the existence among them OF a paper
currency ten years after the close OF the civil
war" He continues with some remarks upon
the general subject In the following iutelli-
gent stralu:
promise 70 pay certain amount of coin on
iemaDd, and in any well-ordered system of
finance there should be practically sufficient
coin or bulliOa 20 meet these promises. To
our mind, there is no valid excuse for allow
ing The national promises To pay TO be al q
1lscount a day longer than is absolutely
tion-and IL is only a material one-is the
annual interest saved on the bullion, which
rs dispensed with by the over-issue; but
against this is TO be set the moral element Of
uncertainty, and almost of gambling. which
Is imported into every monetary transac-
lion, the manipulations of gold-rings, and
al the evils which spring from arti1ciality.
we consider IL rep zach, therefore, TO our
transatlantic cousins that ten years after the
close OF their civil war their promises to pay
On demand can be bought at Is per cent. dis
count Poverty cannot, as in the case OF
AS We have seen, Ills 900 600 nave been paid
pm In ten years, and every effort Is being
made 10 reduce still further the interest
bearing portion. We think that they look
loo much In this direction, to the detriment
pr what should be done in the other. IL any
hatfon is justified in looking into the future,
hnd discounting IL, il Is the people OF tue
pnfted States. Its wealth aud population
Increase In ratio more rapid than that OF
fny other nation. At the present moment
. has within Its borders a population of for
5y-four millions, and an annual income of
100, 0,0O0, and in the course OF half a GEN.
fury 10 will number a hundred millions of
nhabitants. with an annual production be-
Fond present esti nation, and withal vastly
ess liability TO the curse OF war and arma-
nents than other less favored communities"
The threat Feed rs or fight is again
made by the Sioux against the government
former, and in view OF the consequences will
probably make due provision for them this
year. IL Is curious fact that while we pet
Ind pamper the worst Indians on the plains,
most OF the tribes which do behave them
felves receive no consideration in the way Of
fations from the government.