, 1843-05-27
From the Albany Argus,
The National Debts of Europe.

~ " II w
ct the Indebtedness of the several
European States, but also their means
OF probable payment. 1t is seldom
that an article meets Il eye which
can be more frequently used as q
textbook, in illustrating the actual
haldships and oppression of the sew,
eral Governments of Europe.
We learn, both with surprise and
regret, that Holland, the nuted land
of irugaIity and untiring persever-
ance. is more heavily burdened with
debt than any other country in Eu-
rope. and probably 10 the wnld.-
The population is only 100000
100000 greater than that of the State
of New York-and the debt has
reached the enormous sum of $780,
000,O00; that is, S24O of indebted
ness for each man, woman. and child
in that kingdom. The writer is OF
opinion, that Holland has no a~Iterna-
tive bu, reputation or bankruptcy.
II is ont OF the question TO pay. New
debts are annually incurred to pay
arrearages Of interest. This state
OF things defes even hope. He adds.
"the Dutch have struggled manlully
against their increasing difficulties.
They have cut down the perquisites
Of royalty so low, tina, their King
is not much more than Il head burgo.
master; and they have pared away
their protective duties Till the m1xim-
UNI amount Of revenue has been pro-
cured. Go father they cannot
Their Government thy cannot ifs:'h.
er change without revolution; and if
their tariff should be reduced much
more, 1t will cease to exist altogeih-
err" Such is the melancholy picture
OF the present financial condition of
Holland.
The debt Of Great Britain is So
7O0,000,0Oo. Population 25.oOO.OOO.
About $500 to each man,
woman, and child in that kingdom;
bat her resources. particularly in her
wide spread colonial possessions, arc
vast--some have even called them in
exhausllb'e. England yet pays her
interest promptly, by annual taxation.
And she has not yet tried the great
Observation-Disclosures, which her
Dutch neighbors have. This is Il re-
sort which would bring millions of
dollars into her treasury. Therefore
il is not too much to saw, that Eng
land is on safer ground than Holland.
The latter has reached her maximum
Of debt endurance; the former has
not.
Norway and Prussia are less in
debt Than is usual in Europe.
The population of the former is
100000, and her debt is butS3,3O0,,
900, which is being gradually and
steadily paid, as her finances are SO
well managed that she has a certain
excess of income Of 500 900 appIi,
cable TO the payment Of the priuci-
pa! OF Tie fuDllc ucDt.
The debt of Prussia is considera-
bly, larger, but her resources are pro-
portionahly greater. Her population
is l3.5OO,OOO, and her debt $780,
100000. st was contracted princi-
pally during the necessities Of the
French invasion, and at a high rate
of interest,"" 1t is now being gradu-
ally reduced, and is within such COM
pass hat it will probably all be paid.
Saxony, Bavaria, Wirtemburg, and
Hanover are represented to be in
good condition and above water, and
less burdened with debt than most of
the other European nations. Yet it
should be remembered that debts
which in Europe would be deemed
light. would here cause u people to
stand aghast. We are not used TO
being ground in the mill Of heavy
taxation. But the people of Europe
have been so long debt,ridden and
down-trodden, that The slightest bur-
OcD tdhcD lIOIlD t1ltli siipuluciS SetlllS
to them as great an alienation as the
payment of the entire debts of many
Of our most heavily indebted States
would seem to their population.
1t cannot be remarked too often,
when we are disposed TO undervalue
the preeminent blessings of our Gov
eminent, or disposed 10 denounce as
robbery even u comparatively
moderate taxation, that it would be
wise TO recur to the condition of
even the most favored nations of the
Old World. Cross the ocean to Eu-
rope; traverse that land in every di,
rection; witness her halfclad peasant
nv. her mud novels for her people, and
her palaces for her rulers; 60 to her
manufactories-the famed seats of
har oraatneSc and her noWer--ap6