Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1880-09-09


account Of the war ~ the rebe 'lion from Jny !.
1867. TO ane 80, 1879, inclusive. In tha. ofSia.
report it Is stated that the expenditures growing
out OF he war. after deducung 81 the expenses
OF he GoverQ nent other tnan those for the war,
hsve amounted to the sum OF SSl>e 929,9os s.
THIS great sum has sill ucen ptd IN The last
nineteen yesrs, except the present 4ount OF the
national debt. Deductlug the debt which still
remains, from this statement OF
THE cosr OF TIE WAR,
and fl appears that during the tonr years OF the
war, and In the dtteen years which have since
elapsed the United States has paid IN excess
OF all the ordinary aud extraordinary expenses
Of the Government IL time OF peace, more
than St,s75 10000 on account OF the war
Tnis - III average Of shout S2<SNuo,oN
per year nj expenditures for the last nineteen
wears These enormous payments were made
chiefly durlng the wsr aud in tie years immedi'
sle.y following the war,
That such vast expenditures by the Govern
ment should SAD to an inflated currency, 10 ex-
tfavsgant living, and u reckless enterprises aud
that thess in tuE shoud he followed by that TIE
mendous event, hE4ncial panic, and i.s attend
ant ruin aud distress, We're inevitable, and were
part OF the price we paid lut a IGs oreo Union,
for stable Government and for human freedom.
On the 3lst of Angus, 1865, me total debt re-
sultug from the war wss 81 T3b 48l,all q; he -
terest bearing debt s. ISL 81 2ai SO; and the
animal intetestcharge wa Sl)0,9li bg1 81 Now.
after xscty dlteen yesrn have passed, the total
debt, less cash in the Treasury, IL Sl.Wj uU,WO;
the Interest bearing debt f. T23 993 100; and the
annual iuterestcharEe is S19,6S 8ol. Fifteen
wears ago. the share of the National debt q each
inhsbtant Of the United States was S1S2S and
each persons share VI the interestcha ge wss
81 80 Thousands were induced 10 believe mat
such 3 debt could neye' he paid and thst our Ma
tiOn4l debt Ike that OF Englaud, ould he . per
petusl burden upon ourselves and our posteTity
Now, however. he debt has diminished to less
than oue.half for each inlabltGnt what II was
IN 1865, and the interes charge per CdPHd Ia
scarcely more than one-third OF what II was hiieen
years sgo.
such being the favorable state of our dsbs, let
u for moment examine
TIE CONDITION OF OUR RESOURCES.
Tee imports and exports tor tn last thirty years
have be en- follows.
In the twenty i've years next prior to five years
ago the excess OF imports over exporrs-the bal.
ance OF trade against us-was $1,000 00O, 900, aud
the average annual excess of imports more
ia An 500 u00 90 In hat period of quarter OF u
century there only three years in which the
exports exceeded the imports, and Ia those three
years the average annual excess OF exports was
only about $1,000 ODJ Compare this condition OF
trade with the last five years. during which the
excess OF experts over imports-the balance Of
trade in our tsvor-hss been as follows:
loId.... SIg, t43, lsl
ls.l....... l5l 10 U9l
lStS....... @1t 81 ,S3I
II .'''-'t'''.' mi DOL ODD
1851. ...t...........,.. ibi, 9OS 1872
Total In five years, S92l, l79,slS, or yearly
average balance Of trlde IN oar favor of $751;
coo 900.
GOLD AND SILVER.
Ia period of thirty years prior to 1880 there
mas been only one year IN which we received into
the country from abroad more OF the precious
metals than we sent ont of the country. That
year was IN exceptions yeqr-at the begiuniug of
tue war IN 1861 our imports Of god and silver
exceed the exports b 5iS,53'. Ia all other years
except the last, our exports OF the precious
metals have exceeded our imports, per year, from
four millions to ninety millions of dollars, and
have averaged nj least forty millions u year In
1851, the last fiscal year, the imports Of gold snd
silver exceeded the exports 1881, 3gl--a gain
from abroad of the precious metals over tn pre-
yious ye Of $50 594 S32, aud gain The aver
aye yearly balance of unity years past Of Stl5,-
UO0,uOO This gain, Ia the precious metals alone,
OF over Sf5 0OJuOO, IN the fret year afer the re-
sumption OF specie payments, in the face OF con-
Edeut predictions thai resumption would result
/ In ruluous contraction Of the currency, NAV
well encourage those who wish to take the re-
naming steps necessary TO reach u perfectly
sound aud hes thy condition Of the currency,
Whatever INTRODUCES INTO our financial sYstem
the elements of steadiness, certainty, and IN
Ques STONED good faith, have always been found 10
increase the facility with which legitimate bust
ness can prOcure the capital II needs. Plausible
pred ctions OF contraction and distress are always
IN such Cases falslt d by the results without
further sl!uslon 70 the moOted questions OF
finance 10 be hereafter settled let pass TO other
evidences OF the increasing prosperity OF our
connuy.
QUA FoREIeS COMMERCE
has increased IN the last thirty years az follows
l65i.. $3.50 9'b $50
~ 9o5 ,2s5
''''''''''''''' .''-.'''.'.-..''' " 10 Nol
lNtS',.,..,....... .....-....'.,. loo, ~ 30
1850 OBSERVATION-DISCLOSURES. SOB ,bi9, ds9
The value of imports and exports In the year
ending June 30, $780, greater Than the pIeeed.
ing year by the sum OF about S3i,, OOOO1J-an IN.
crease Of 30 p CBnt.--and Is larger than in any
previous year in our history.
The enormous gain IN the tonnage OF American
and foreign vessels entered al sea.ports OF the
United States. is shown by the following:
Tonnage, 1860. .................. 0Ol 1874 tong.
Tonnage, 1870. ................... 62JO 1879 tons
Tonnage, ls,0............ Is 2bl 0i5 tons.
This remarkable increase has been caused by
the shipment to foreign countries OF an unprecs-
dentei amount OF the bulky products Of Ameri
can farms.
l. Will be gratifying to the friends OF American
agriculiure 10 ltice the vast increase ia the ex.
ports of farm products during the last few years
1873. 1879. 1880.
stutIs ... SOS 7t3151 S2l0,355 52s $2ss, O3B, s85
Provisions ". IS 1924 ll6 eos 65J l21J4I2i4
Animals, livg 2,O38445 II 4sI75i 15,ss!,121
TotsI...sl7s g78,s89 s337 9Ol ,s32 si8O,962, lo7
In these articles the increase OF exports IL
about 24l per cent. IN seven years, and ~ per
cent. since he last year.
The amount Of these three items Of farm pro-
ducts exported this year, VIZ, $3.50 962 ~, eX.
ceeds the total exports OF all articles rom the
United States In any year prior 10 1871
THE FAILURES SINCE THE PANIC
OF 1873 have ranged from over five thousand to
more than ten thonssnd per year The average
number has been about eight thousand per year
The amount Of liabilities mas averaged about
S30,O00 900 per year.
In tho fret six months Of his year there were
only 24g7 failures, and the liabilities were only
S}2 SIS, 16S. The failures are rather more than
vne-half in uumber ana the liabilities are less
thau one-third ia account, as compared With the
five wears next after the pane. II - the opinion
Of competent judges tta, the number Of failures
which now occur, and the amount OF liabilities in
y OFOr'lun 20 the amount Of business done, and
the number Of eLte prises which are undertaken,
Is lers han ever before in this country. Never
cnr-n mn "