The war appears to be costing the American Government about
150,000,000/. a year ; at least, the official statement of the indebt- edness of the Union on 1st May, 1863, was 964,000,000 dollars, and is for 1st September 1,228,000;000 dollars, an increase of 13,200,0001. a month. This includes every liability except unpaid bills, which, though large, cannot reach the preposterous figure mentioned in the Times. Taking the dollar at a fifth of a pound, which is very nearly its value, the debt is now (November 1st) 260,000,0001., and the liabilities, perhaps, 40,000,000/. more, or 300,000,0001. in all. By this time next year it will be 450,000,0001., bearing an average interest of a little less than 5 per cent. per annum. We have taken our figures from a remarkable and appa- rently accurate' synopsis of the financial position published in the New York correspondence of the Manchester Examiner.
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