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England (United Kingdom) (search for this): article 1
n offer of seven per cent., and are at this moment compelled to pay ten or twelve per cent.--We find, therefore, that while $300,000,000 annually would be added to their national debt, $30,000,000 annually would be added to the charge of that debt, so that four years and three-quarters of their present expenditure would saddle them with a burthen equal to that which we have incurred in decentury and a half. Mr. Gladstone has to provide some $115,000,000 to satisfy the public creditors of Great Britain. In the year 1866, if the American war should be protracted so long, Mr. Chase's successor will have to provide rather more than that sum for the creditors of the Union." The Times contains a subsequent article, which concludes with the declaration that, if the North should attempt to defray the cumulating charges of the debt and of the war with money borrowed at these exorbitant rates of interest, they will find themselves engaged in an expenditure "that no country in the world c
Gladstone (search for this): article 1
, and in 1854 at a little above three per cent. The Americans, however, began by an offer of seven per cent., and are at this moment compelled to pay ten or twelve per cent.--We find, therefore, that while $300,000,000 annually would be added to their national debt, $30,000,000 annually would be added to the charge of that debt, so that four years and three-quarters of their present expenditure would saddle them with a burthen equal to that which we have incurred in decentury and a half. Mr. Gladstone has to provide some $115,000,000 to satisfy the public creditors of Great Britain. In the year 1866, if the American war should be protracted so long, Mr. Chase's successor will have to provide rather more than that sum for the creditors of the Union." The Times contains a subsequent article, which concludes with the declaration that, if the North should attempt to defray the cumulating charges of the debt and of the war with money borrowed at these exorbitant rates of interest, t
this annual deficit will probably be supplied by sale of bonds; but when peace recurs, it will have to be met by stern taxation; and the predicament of the people having to pay it will be in the last degree unenviable. The South will find out that they have escaped the most enormous taxation which a free people have ever yet had to endure; and that their secession, in a mere financial point of view, was the happiest deliverance ever vouchsafed to people since Israel crossed the Red Sea and Miriam sang her song of triumph. The London Times has some very striking remarks upon the frightful rapidity with which the North is running up its public indebtedness, that are well worthy of Southern attention, and which we copy, substituting dollars for pounds sterling: "We entreat the reader to observe for a moment what this implies. Such a course throws all-our borrowing into the shade. In all the nine years of the American war, from 1773 to 1783, we only borrowed $520,000,000. In
per cent.--We find, therefore, that while $300,000,000 annually would be added to their national debt, $30,000,000 annually would be added to the charge of that debt, so that four years and three-quarters of their present expenditure would saddle them with a burthen equal to that which we have incurred in decentury and a half. Mr. Gladstone has to provide some $115,000,000 to satisfy the public creditors of Great Britain. In the year 1866, if the American war should be protracted so long, Mr. Chase's successor will have to provide rather more than that sum for the creditors of the Union." The Times contains a subsequent article, which concludes with the declaration that, if the North should attempt to defray the cumulating charges of the debt and of the war with money borrowed at these exorbitant rates of interest, they will find themselves engaged in an expenditure "that no country in the world can support." The condition of the North will be a melancholy one indeed. In
our borrowing into the shade. In all the nine years of the American war, from 1773 to 1783, we only borrowed $520,000,000. In the twenty-two years of the great revolutionary war we averaged less than $200,000,000 a year, and in the tremendous year 1813-14 the loan was but $180,000,000. But this is only half the battle. The burthen of a load depends not so much on the amount of principal as on the rate of interest. We borrowed our money even in 1813 at a little above four and a half per cent, a1813 at a little above four and a half per cent, and in 1854 at a little above three per cent. The Americans, however, began by an offer of seven per cent., and are at this moment compelled to pay ten or twelve per cent.--We find, therefore, that while $300,000,000 annually would be added to their national debt, $30,000,000 annually would be added to the charge of that debt, so that four years and three-quarters of their present expenditure would saddle them with a burthen equal to that which we have incurred in decentury and a half. Mr. Gladst
eople since Israel crossed the Red Sea and Miriam sang her song of triumph. The London Times has some very striking remarks upon the frightful rapidity with which the North is running up its public indebtedness, that are well worthy of Southern attention, and which we copy, substituting dollars for pounds sterling: "We entreat the reader to observe for a moment what this implies. Such a course throws all-our borrowing into the shade. In all the nine years of the American war, from 1773 to 1783, we only borrowed $520,000,000. In the twenty-two years of the great revolutionary war we averaged less than $200,000,000 a year, and in the tremendous year 1813-14 the loan was but $180,000,000. But this is only half the battle. The burthen of a load depends not so much on the amount of principal as on the rate of interest. We borrowed our money even in 1813 at a little above four and a half per cent, and in 1854 at a little above three per cent. The Americans, however, began by an
nt., and are at this moment compelled to pay ten or twelve per cent.--We find, therefore, that while $300,000,000 annually would be added to their national debt, $30,000,000 annually would be added to the charge of that debt, so that four years and three-quarters of their present expenditure would saddle them with a burthen equal to that which we have incurred in decentury and a half. Mr. Gladstone has to provide some $115,000,000 to satisfy the public creditors of Great Britain. In the year 1866, if the American war should be protracted so long, Mr. Chase's successor will have to provide rather more than that sum for the creditors of the Union." The Times contains a subsequent article, which concludes with the declaration that, if the North should attempt to defray the cumulating charges of the debt and of the war with money borrowed at these exorbitant rates of interest, they will find themselves engaged in an expenditure "that no country in the world can support." The co
rth is running up its public indebtedness, that are well worthy of Southern attention, and which we copy, substituting dollars for pounds sterling: "We entreat the reader to observe for a moment what this implies. Such a course throws all-our borrowing into the shade. In all the nine years of the American war, from 1773 to 1783, we only borrowed $520,000,000. In the twenty-two years of the great revolutionary war we averaged less than $200,000,000 a year, and in the tremendous year 1813-14 the loan was but $180,000,000. But this is only half the battle. The burthen of a load depends not so much on the amount of principal as on the rate of interest. We borrowed our money even in 1813 at a little above four and a half per cent, and in 1854 at a little above three per cent. The Americans, however, began by an offer of seven per cent., and are at this moment compelled to pay ten or twelve per cent.--We find, therefore, that while $300,000,000 annually would be added to their natio
nce Israel crossed the Red Sea and Miriam sang her song of triumph. The London Times has some very striking remarks upon the frightful rapidity with which the North is running up its public indebtedness, that are well worthy of Southern attention, and which we copy, substituting dollars for pounds sterling: "We entreat the reader to observe for a moment what this implies. Such a course throws all-our borrowing into the shade. In all the nine years of the American war, from 1773 to 1783, we only borrowed $520,000,000. In the twenty-two years of the great revolutionary war we averaged less than $200,000,000 a year, and in the tremendous year 1813-14 the loan was but $180,000,000. But this is only half the battle. The burthen of a load depends not so much on the amount of principal as on the rate of interest. We borrowed our money even in 1813 at a little above four and a half per cent, and in 1854 at a little above three per cent. The Americans, however, began by an offer o
owing into the shade. In all the nine years of the American war, from 1773 to 1783, we only borrowed $520,000,000. In the twenty-two years of the great revolutionary war we averaged less than $200,000,000 a year, and in the tremendous year 1813-14 the loan was but $180,000,000. But this is only half the battle. The burthen of a load depends not so much on the amount of principal as on the rate of interest. We borrowed our money even in 1813 at a little above four and a half per cent, and in 1854 at a little above three per cent. The Americans, however, began by an offer of seven per cent., and are at this moment compelled to pay ten or twelve per cent.--We find, therefore, that while $300,000,000 annually would be added to their national debt, $30,000,000 annually would be added to the charge of that debt, so that four years and three-quarters of their present expenditure would saddle them with a burthen equal to that which we have incurred in decentury and a half. Mr. Gladstone has