The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1875-12-09
ARE THE UNITED STA TIES BANK
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This is the question asked by The
Scotsman" leading journal OF Edin-
burgh. And it gives some striking tac.s
which go to answer the question affirm
atively.
1t proceeds to show that the interest
On the American funded debts, state, mu-
nlcipal and national, is equal to $780,
10000 and that this is SIS, 100000
more than the interests on the debts OF
Great Britain, state, national and NUM-
cipal; although the latter country is
many times richer than our own.
This is a terrible showing for a coun-
try Just one hundred years old, as COM
pared with q nation thousand years
old
These are some of the striking figures
given by the Scotsman:
'sThe fact that the local Indebtedness of the
United States-the county, municipal ana
State debts-has increased by more than Esq.,
600, 600 since 1857, throws much light upon the
hitherto rather mysterious question ofthe cause
of the present depressed condition of trade and
industry in the Republic The actual amount Of
this indebtedness in 1870 was S86S, 676, 1853, and
this has now increased to 81 1881 ,e7O,5l7. The
State debts have increased about thirty mil
| lions of dollars, and the municipal debts
| about four hundred and forty millions, 1t is
| in The cities that the rings have full sway
there, where the non-taxpaying voters out
number the property holders, the practice Of
voting appropriations for public works, and of
spending sums upon Improvements, has been
carried on almost without limit. Tie city OF
New York, with a population Of less than one
million, has debt OF .c3l ,bi5 ,678, while Lon
don has debt OF only 60, 1871 900 Baltimore
and Boston, the first with e67 ,534 people. and
the second with a population OF 25n, 500, each
have debts much large. than London. Wv
York, Philadelphia, Boston, BROOKLYN, Balti-
mere, Washington, New Orleans, Saint Louis,
Chicago, Cincinnati, Jersey City, Louisville,
Newark, Providence, pittsbttrg. Cleveland,
Portland, Charleston, Memphis, Savannah,
San Francisco, Albany, Mobile. Milwaukee,
Detroit, Bangor, Augusta, st, Joseph, Indian
apolis, ST Paul, Lyncburg and Co umbus-the
thirty-two principal cities in the United States,
with population OF A ,S35, 706-have debt of
CLOS, l26, 545, while London, Liverpool, Mall
chester, Leeds, Bradford, Bristol, Halifax Boil
ton, Brighton, Birmingham, Oldham, Stafford,
Rochdale .uddersteld, Wolvernampton
Preston, Newcastle. Blackburn, Ashton, Sum-
derand and Swansea the twenty one princl-
pal English cities, with a population of g.
1856, 49, have a debt OF only .f22 .432, 73c-less
by 60, 1872, 94S than the debt of New York city
alone. These facts are staggering; but, as We
have said, they carry their lesson with them. y
One cause which led the prudent farm.
ers who founded this nation to discard u
King. an aristocracy and an established
church, was the argument OF economy
1t was claimed that these institutions
robbed and and impoverished the PEG
Pile; and so our worthy prede cessors es
tablished form OF government whict
they claimed was not only the BIS
but the cheapest in the world. What til.
results have been 1t The Scotsman
show:
serhe Imperial revenue of Great Britain il
about ELS. 266 900, ana the amount raised BY
taxation for local purposes is about cas- 2S6
600: SO that the whole cost OF governing tn,
country, with what our American friends re
gard as TX pensiva Injuries of a monarchy, il
El03, i52 900. But the revenue of the Fedora
Government of the United States Is -c57 1885,
$50, and the amount raised by taxation for 10
cal purposes is about 81 ,000, 900, 50 that tin
whole cost OF the "self-sovernment' of tn,
American is nearly .Ei29, 200, 0o0 We have Al
efficient army and navy-the Americans hav,
neither we have our colonies and our grea
Eastern Empire, while the United States hav,
no colony: aud still we get slong with tolerate
comfort by the expenditures OF E2o, 0OO. 600
year less than the Republic costs"
In other words. monarchy, queen. ba
hies, brats, princes, dukes, ear's. trips t.
India. clerical princes and everything
else put together costs the English Is.
millions less annually than the cheap,
plain peoples government OF tue United
States of America! Verify the men 0
the Revolution of 1776 shed their bloot
to some purpose. They got clear o
King George and now have got Kin:
Ulysses ut an extra cost of si55. 900 .o0'
per annum. But riUa la Republiea,
| ,rs,-