In fact, when we cast our eyes over the continent and contemplate the vast extent of fertile land already brought or capable of being readily brought into cultivation,--the productive agricultural, manufacturing, and commercial investments,--our internal and foreign trade,--our fisheries, and our mining operations,--the rapid increase of labor (the great creative source of wealth) by the growth of our own native population and the steady flow of immigration from abroad,--when we contemplate these things, the draughts which must be made upon the resources of the country in the successful prosecution of the war, great as they are, are really insignificant Let us take a single item, but one which may serve as a fair index of the resources of the loyal States. In the American Circular of Messrs. Hallett & Co. of New York, for the 6th of November last, the value of the tonnage of all kinds annually moved upon the public works (railroads and canals) of the Northern and Middle States is estimated in even figures at $4,620,000,000. This enormous sum, of course, represents only that part of the internal and foreign trade of the country which is moved upon the canals and railroads. All that portion of trade which is not transacted in this way,--all that moves exclusively on the lakes, rivers, and coastwise, without coming in contact with artificial communications,--the retail business of every kind in the large cities, and all that is transported in moderate parcels by animal power in the neighborhood of the places of production, is in addition to this vast amount.
The Secretary of the Treasury, in his patriotic appeal to the country last summer, calculates "the real and personal values, in the States now loyal to the Union, at eleven thousand millions of dollars," while he remarks that "the yearly surplus earnings of the loyal people are estimated at more than four hundred millions of dollars." A tax of nine per cent, on this surplus would pay an interest of six per cent, on a loan of six hundred millions. Now in this country, where we are so little accustomed to taxation, such a tax may seem to be a very serious affair; but the man who in times like these, and for objects like those for which we are struggling, is not willing to pay nine per cent--of his _surplus earnings_, does not deserve to enjoy the blessings of a free government.