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Browsing named entities in a specific section of The Daily Dispatch: October 15, 1861., [Electronic resource]. Search the whole document.
Found 9 total hits in 2 results.
England (United Kingdom) (search for this): article 4
United States (United States) (search for this): article 4
A national debt of six hundred millions.
--The President seems to think that a national debt of six hundred millions would be but a trifle for the country to bear.
Those who are well informed know better.
It is more than one seventh of all the debt which Great Britain finds herself loaded with at the end of eight centuries of war. The wealth of the United States is not one-tenth part of the British empire; so that six hundred millions for us would be a greater burden for us than that of four thousand millions for Great Britain.
At six per cent., it would require thirty-six millions every year to pay the interest.
In ordinary seasons, this is about all that we could raise from customs; so that the expenses of the Government would have to be defrayed by direct taxation, and the principal of the debt, if it was ever paid, would have to be a direct and oppressive assessment upon the pockets of the people.
In the distance we can see that the funding of this debt would create