Year: 1865

it will be, to . great extent, with ne rebel
armies. There win, however, be on both sides
considerable bodies Of men to whom ne vo-
cation OF war or new adventures, even in ether
lands, viii be an irresistible temptation. Esse-
cially wil this be the case with tho rebel
troops, regulars and bushwhackers, of Kirby
Smiths Trans Mississippi Department. Thou
sands of those men, as wild and nomad o in
their habits as The ancient Scythians, will find
their way as emigrants into Mexico; and then
what disposition can be made of them, we ap-
prehend, will become question SO very per-
picking to Macmillan and Napoleon as 10
drive them from the country in disgust.


. s------- -


New Financial views-Prying ON tso


National Debt.


In another part of the paper We give, be-
sides the additional subscriptions, a number
Of communications in relation to the pro-
posed plan to pay the national debtor pro-
posing new plans. These communications, if
they will do no more at least show how lively
an interest is taken in this question, and that
the people are fully disposed to consider il in
the proper spirit h.a1l


We proposed yesterday to modify the original
plan by making subscribers for certain sums
at once free from taxation. 1t seems possible
to 60 further in this direction, and make this
attractive point Of exemption from taxes so
tangible and definite that every property
owner can realize it as a fact. This could be
done by selling exemptions at fixed rates, the
price of such exemptions to 60 with the other
contributions for the settlement Of the debt II
the Secretary will make this matter official he
has in his hands the returns that will enable
him to fix the rate Of such exemptions very
justly. There are men In the country who
could afford to purchase their exemptions at
million dollars each, and the number Of those
who can afferd to purchase exemption at even
one hundred thousand dollars each Is very
large.


We do not believe that it is desirable to obli-
terate the whole national debt Though we do
not 70 SO far as those who maintain that great
national debt is absolutely advantageous, yet
we believe that national debt within certain
limits Is beneficial to business communities.
The limit Is a plain one. It must not be bur
den upon the people. Fix the limit, say at
thousand millions, and we believe that debt
Of that amount would be great, useful element
in business transactions. The national banks
are unquestionably great advantage to busi-
ness, and part Of the debt would be pro-
per basis for their currency. They will soon
need three hundred millions Of it. Seven hum
dred millions we would leave for the ready and
safe investment of money by those who. found
Investment in real estate over troublesome or
This would bear nominal in
terest, SAY three per cent. ag


There would thus be but two thousand mil
lions to pay, and we would give those who CON.
tributed towards paying it the additional advan.
tage of preference over all Others for invest /
ment ia the remainder, which would then be
the safest investment In the world. This plan 1
would obviate the necessity Of making any
for the return tospecie payment,
as specie payment would then come Of its own
account, and, indeed, would be inevitable
within three years. eaa.rr a4 ssrar