The War Debt

Our people havo been muoli alarmed about the enormous debt that tho rebell ion is ruiling up agaiost ihe country. - Thiá debt, strange as it muy seem, will be less in proportion to the population and tho meaos to pay, than tíio debt incurred by the war oí 1S12. The national debt in 181G was $127,500,000, and the populntion was S;.JüO,OOO. - This debt ntid itg interest was extinguished in 1835 without resort to direct taxation. The country bore the bordeo oheorfully and oever lelt its weight. The custoinsand public lands paid it. Tho oountry grew rich in those 20 years - the aeumulated wealth being 50 per cent pur bead of the total population. Now the nseertaiiied debt óf the Nation, on the first of July, 18OÏ2, will be S626 000,000. Llore, tben, we have an increaseddebt of 48 per cent, an increased annual interest of 2 1-5 per cent, and an increased wealth to meot this dubt and interest of 93 per cent. per capita, if we compare the wealth of 1860 with the average wealth and resources of the yêriöd from 1816 to 1815. In other wordw, the dabt is less than one half groater, tho interest one-iortioth greater, and the resources within B fraction of doublé per head. But froni our own resources we have the means for discharging our present dept in 15 yonrn, at the same rate of pressure, or the same ratio to resource na existetl in the 28 years taken for the extinguishment ol the debt oí 1816. Is there either bnnkruptcv or a heavy prospectivo borden in tíiis? The Britiah people have to pay S 1 36 per head on their national debt ; the French, 3.04 per head ; but the American?, next July, will ocly have to pay 151.14 per hoad. JC2L" Sorae one sa-8 that hen ttoro is a spanking breezo bud children snould be put out nto the iiir. We should hope that thoy would ba put out beforo it comes on to biow.