The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1874-11-07
THE PACIFIC
Commercial AOOtrtistr.
MONDAY, NOVEMBER :.
The Great Banker of the Void.

\ London correspondent Of the New York
Bulletin furnishes some interesting statistics,
which show that England. while diminishing her
Indebtedness to her own subjects, is at the same
time the banker for all the nations of the world,
lending them capital whenever wanted. The
writer says
In this respect, the heaviest demands have
been made during the ten years from 1862 to 1872,
either indicating an increase during that period
Of internal and costly Disturbances, as in the
United States and France. or the accumulation Of
progressive ideas. England herself in that time
decreased her debt owing to her own people
Sl75 900 900 the only other like instance being
Holland, to the extent Of $50, 600 600. On the
other hand, We End that the abOve-named govern
ments in that time have prodigiously increased
their neutrality-suspicious. to the extent OF
g, 500, 600, 900, and the United States 81 $780,
900 900. 1t is somewhat of a financial surprise
to find that Italy ranks next. That country is
now groaning under a burden of s. ,250, 900 900.
Then follows Spain, with an increase during the
decade Of 81 900 600 900, perhaps less able to
see her way through liquidation than Italy.
Russia, with her vast domain, an energetic En-
peror, and imbued with ideas rapidly expanding
TO a proper appreciation Of her vast internal
resources, has only added the lighter burden,
$3.50, 900 600. Next on the list is Turkey,
adding, since 1862, $685. ,000, 600. Austro-
Hungary has increased S450, 900 .000; Egypt,
$3.50 600 600 Brazil, 1915, zoo, 900; Portugal,
$500 900 GOO; and Peru, S160 900. Other States
nave INCREASED ID lesser amounts, nut perudp S
heavier in proportion to their ability to carry,
whilst Mexico, Greece, Ecuador, and Venezuela
have remained stationary, for the reason that no
one was found willing to loan. According to
the figures previously given, | found the aggregate
Of national securities subscribed for and dealt in
here to reach the stupendous amount of ga 49,
5S5 ,l05-a sum, great as il IL, very far short or
the actual indebtedness Of the nations included
in the Upon the authority of Fem on
The Funds, it appears that $40, 900 900 900 of
Indebtedness were added during the period between
1862 and 1872, of which not less than one half
was directly or indirectly relerable to war, in
which the United States and France were the
most conspicuous, expanding jointly S4,2 $50 ,000,-
900, and that by no means including all the dis
bursements occasiOned by the wars in which they
were unfortunately engaged. The other half of
the augmented debt, it is estimated, has been put
to higher purposes than human destruction, but
only n part of that half can be clearly traced.
The sum Of So, 075 600 900 went into the State
Golfers of Russia, Spain, Turkey, and Egypt.
The first spent a portion of this in building rail
roads, not wholly intended to cultivate the arts of
peace. The second applied part in the develop
ment of internal industries. Concerning the dis
position made Of her quota by Turkey, very little
is clearly known. The capriees of the head Of
the State, the costly construction of irOn-clads.
and the sustenance OF corrupt officials may have
spared but q small portion for direct application
to reproductive works. Egypt, the vassal State,
presents a better record. The Khedive can point
to the Suez Canal, and instance other works con-
nected with the industrial progress of bis people.
With regard to the Colonies and India borrowing,
during the period named, 1926, 900 900, no part
was used as blood-money, all Of il having gone to
reproductive purposes and the civil uses of the
State. England, it will be seen, has been no
borrower; on the contrary, diminishes her debt,
munifcently aids the peaceful progress of her
dependencies, ard banks for the nations of the
world, all Of whom are her debtors"