Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1843-05-23
From the Albany Argus.
HE NATIONAL DEBTS OFEUROPE.

The May number Of the Merchants
Magazine contains an article with this tile,
invaluable to the politician and the states
man. 1t embraces not only a comprehen-
sjye view of the Indebtedness Of the sever
al European States, but also their means
of probable payment. 1t is seldom that
an article meets our eye which can be more
frequently used as a text book,in illustrat-
ing the actual hardships and oppression Of
the several governments Of Europe.
We learn, both with surprise and regret,
that Holland, the noted land Of frugality
and untiring perseverance, is more heavl-
ly burdened with debt than any other coun-
try in Europe, and probably in the world.
The population is only 1900, 900, 800
600 greater than tha. Of the state Of New
York, and the debt has reached the enor-
nous sum of 5000, coo, 000-ihat is $40
Of indebtedness for each man, woman and
child in that kingdom. The writer is OF
opinion, that Holland has no alternative
but Reputation or Bankruptcy 1t is out
Of the question to pay. New debts are
annually incurred to pay arrearages OF IN
terest. This state Of things dehes even
hope. He adds, the Dutch have struggled
manfuIly against their increasing dItfi-
culties. They have cut down the perqul-
sites of royalty SO low, that their King is
not much more than a head Burgomaster;
and they have pared away their protective
duties till the maximum amount OF revenue
has been procured. Go father they can
not. Their Government they cannot far
Their charge without revolution, and it their
tariff should be reduced much more,t will
cease to exist altogether" Such IS the
melancholy picture Of the present financial
condition Of Holland.
The debt Of Great Britain is $780,
100000. Population 5000, 900. About
$500 Of Indebtedness to each man, woman
and child in that kingdom; but her resour-
ccs,nariicuariy in her widespread colonl-
al possessions, are vast, some have even
called them incxhaustibe. England yet
paws her interest promptIy,hy annual tax
alton. And she has not yettrIed the great
Treasury -Rctrnnchment, which her Dutch
neighbors have. This is a resort which
would bring millions Of dollars into her
treasury. Therefore ii is not too much TO
say, that England is on safer ground than
Ha,I3nd The latter has reached her max
mum debt Of endurance. The former has
not.
Norway and Prussia are less in debt
than IS usual in Europe.
The population Of the former is l,O0O,-
600. and her debt is but So, 300 900, which
is being gradually and steadily paidas her
finances are so we'll managed that she has
certain excess Of income Of $lG0, coo APP
plieabre to the payment OF the principal Of
the public debt.
The debt Of Prussia is considerably lar
per. but hnr resources are propor'onabiy
greater. Her population is 1880, 600,
and her debt $50, 600 600. at was Goa.
tr7c,od principally during the necessities
of the French invasion, and at high rate
Of interest,"" 1t is now being gradually
reduccd,and is within such compass that it
viii probably AL be paid.
Saxonv, Bavaria, Wurte mburgh and
Hanover. are represented to be IN good
condition and above water; and less bur-
doned with debt than most Of the other
Fnronean nations Yet it should be re-
mombered that debts whichtn Europe would
he deemed licht, would here cause our peo-
ple 20 stand aghast. We are not used TO
being ground in the mill Of heavy taxation.
But the people of Europe have been so
long dcht-ridden and down-troddcn that the
slohtcst burden taken from the shoulders
seems 10 them as great an alienation as the
p,vment Of the entire debts of many @! our
most heavily indebted states, would seem
10 their population.
II cannot he remarked too often, when
we arc disposed to undervalue the preeml-
nent blessings of our government, or dis
posed 10 drnouncc as robbery, even our
comnaratrvclv moderate taxation, that It
would BE- wise to rccur 30 the condition OF
even .hc most favored nations OF the old
world. Cross the ocean to Europc-traverSe
that land 20 every direction witness her
halr-clad pcasantrv-her mud novels for
her people. and her palaces for her rulers:
Go 10 her manufactures, the famed seats
Of her greatness and her power, and there
witness her hatI-starved, b!ear-cyCd, and
deCnrmel lah0rcrS--not overlooking the
moral blindness and ignorance ofevcn her
medium classes. Sand then, on the contra
nv. mark the officers and mcnials Of gov
ernmon, pampcred, amid this vast Iazar-
house Of human woo. After these things
have been seen, let him return here, and
even the worst OF our mis-governmcnt will
seem like good government; and we doubt
not.evcn such a one would say,
"What we have we prize not to the worth"