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William Schouler, A history of Massachusetts in the Civil War: Volume 2, Chapter 1: introductory and explanatory. (search)
ng Fund2,399,980.35 War Loan Sinking Fund1,835,803.66 Coast Defence Loan Sinking Fund425,690.79 ————-- Total$8,261,474.80 ————-- The extinguishment of the war debt of Massachusetts is therefore in a fair way of being accomplished in a very few years; and judging from the rapid decrease of the war debt of the cities and towns by taxation during the two years immediately succeeding the war, and the establishment by the largest places of sinking funds, very many of them have already (June, 1871) paid off all the indebtedness which they incurred on account of the war. We are not aware that the amount paid for bounties in Massachusetts is larger, or even so large, as was paid in the other New-England States, or in the Middle and Western States; but this we know, that, while the volunteer system was the rule of the Government, bounties were not only a necessity, but it was just that they should be paid. Massachusetts and the other New-England States did not have so lar