The Vallandighammers have been very earnestly laboring to make the people believe that a debt of twelve hundred millions of dollars has already been contracted in the prosecution of the war. It is unnecessary to say that there is a liberal discount upon this as well as a good many other statements of these disinterested and pure minded patriots. The total expenses of the Government on account of the war amount to $441,000,000. The total debt of the Nation, including $70,000,000 inherited from Buchanan’s Administration, amounted on the 22d day of May to $481,796,145 – more than seven hundred millions of dollars reduction from their statement. Knowing how concerned they were and are about the debt and how much they fear the people will not stand up to it, were are certain they will be greatly rejoiced to hear it is so small.
– Published in The Burlington Weekly Hawk-Eye, Burlington, Iowa, Saturday, June 7, 1862, p. 1