New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-05-26


The English National Debt.
Mr. Gladstone's speech on the English budget
contained the following interesting passages in re-
atiop to the gradual increase of the national debt
of Great Britain, and the capacity Of the United
States to carry a heavy financial burthen.
HOW THE ENGLISH DEBT INCREASED.
The total of the national debt, which is com
monty supposed at the close of the great war to
have been $500, 600 Though not including all
these items had turned E900, 900 900 of money, the
actual figures being 1902 600. OF course d.
not include in that any allowance for the sinking
fund which exclude altogether, as lspeak only of
the real obligations of the country. In 1880. that
total had been brought down to &S42 ,405 900 A
good deal had been done in that interval as will
be seen for the reduction of the debt, but little
had been done for the liberation of the industry of
the country. beginning might have been made
but if 1t was commenced it was commencement
only. In S40, the debt had fallen to 8S37 ,S4S0 600,
| or by a very small sum-namely, four and halt
millions bnt it must be recollected that during
that interval, a loan of twenty millions had been
| contracted for the emancipation Of the negroes in
the West Indies Virtually, therefore, the reduc-
| ton III that period amounted to nearly twenty-five
millions. The lowest point was reached on the
9th of January 1854. 1t then stood at $500 ,0OQ
Then came the Russian war and parliament re,
solved to meet the expenses OF that war in great
part by taxes Immediately imposed upon the peo-
| pie: consequently, the increase of debt was much
| less rapid than it wOnd otherwise have BEEN and
much less rapid than it must undoubtedly be if
ever unfortunately this country should become in
volved in prolonged war.
On the 21st Of March, 1857, the debt had risen
to GS3l 1872 900; the 3lst of March, 1863, il was
fS23 934 900: and on the 3lst of March, 1866, it
vas ELS 500 600. [Cheersl That is nominaly
point somewhat lower than it has stood at before
but it must be remembered that we have cancelled
two minor sinking fund stocks, which formerly
formed part of the nominal capital, SO that, in
. wan with -fO
it is not necessary to be particular to million
or a million and a half-it has now just reached
the point at which we have ettaced the results of
the Crmean war and the debt thus stands at the
+ very place which it occupied at the commence
ment of the year 1854.
nine countries in Europe, estimated from the most
trustworthy data | could obtain. find that, with
the exception Of Hollands, there is not one of
these that has not been virtually contracted in the
last half century, and by far the larger part OF
them has been contracted during the last twenty
years-a time of peace; for if there has been any
war expenditure added to them during that time,
it is insignificant in amount. Holland, find, acts
prudently andreduces her debt, while the finances
of Prussia are model Of good administration, for
Prussias debt stands at CAB 100000, and H0l-
lands at f95 600 O00 Russia's debt is estimated
at E279 100000, and Austria's at 1915 100000. The
debt of France is not capital debt, and 1t is diff
cult to estimate it with accuracy. 1t is made up
of rentes Of twenty years purchase, and, as
nearly as possible it amounts to &400 900 900. 1t
is the largest of these debts, yet, because Of the
immense resources of the country, and the energy
and wonderful thrIftiness of its people, one need
perhaps. leel iess aIAietS loL ~ Lu'ufe
European government.
Itaty's debt stands at fl52 100000, and it is in
creasng with portentious strides. The debt o
SPAN dllonnV 80 ~ r1 .,
which l believe to be entirely modern institu
tioh ptlhcpaLy GIeal o Tioe Wy Ciied 20 ~.
amounts 70 19l oUoVou IN seS' ~ Foo % noo no0
aeots' auuouIlLhe atoseinet ~ ~ i ~
nave accuIlulateu ~ d ai9 VI pI ,i e ii Ia
Deeu vloMn Ip0 tu III w Ii -
struggle lgr llie. WIN NV .'o
WIN qeIans u ieit I".S ~ ~ AZ, I'M
slg iloau, wnom m%S Az ~ a iI
ra adS obttin raU also which ee5s IT,
gIgase W. tlo olvUiG p' 't.aU, In N.Y. ~
uepU il n ~ on - 10 1 y
5.a VI ny my 49,, i1' " t "
, 81 ~ ~ eeI 066 onG An +bis Il; [oin+t
gu H. at NOD hal his DAFT MAXIM hoS ton
- - y 49, -, tbarlfaro SSt,+t,l H. ~,
GSL'Gy w SPl 0ru - - " 4 So r., ~ it 80 ~
Ile "1lu i9D a. ~ iGli g ] M W.
~ - stiT,o n ia ,Tno, y
800 6ro+ tbe ropntrv sne3t tba ,rInIe If tba
$50 H t 49, ~ 80 LIE IT, bn,t h;S
$50 H i "a ,tS +it r. , F w.,
%tu ~ - g tT + 80 ~ f
Iit g. ti ,or,rTtrisg at Na ,rassryi 20 h
1 If incresre womb anonnt 10 nearly "A 600
am 400 lJ5,i ''N0 "01''N w N'1 ~f'D'''
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Le ueDC 81 'le uirT@ o az ~ = rn
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III W nedty ~ ~ ~ o a
ee ltSe % u coon nnG ma Tbn S, @
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uol u. 49, ~ I ivS t6t ~ ~ tioi ~
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III iioIe ] in "a ino fbe
tlSio'tl %ur f ~ ~ - 4; @
o, ors o, i5o cotai Lass aSr hear
T i+u 9u Ianst 5,, 'lG ,bc ca egtiT5ta tb
aho, +{ir ~ roi,,ions sterlin"
S - 1r,' ~ bac Of tSy+ am, yn law Ma No
,u a. Jus m '' t noo vbinb i
fV4g Oh ,taS Il IL bnre DO M
III t % et,,o e%t f +natnn iapnbnU
n1h NE enagtyG 4 t 81 aA@som F IN
n Iv VI MANA r f5rtIn NJ tb
, ,t o NV III tao az Ioss tba
ptniir or
VIII now IninS, tsae ,nres man ,or1
he strnc itb soastIin lie 1asn9i INT II w.
"ol at N nnsiton of IA corntrg With has 4
bearf The bnr5an ronet confees flat think th,
! political problems are not now in QuestiOn-Wil