Centre Democrat. [volume] (Bellefonte, Pa.) 1848-1989, 1880-04-01
National Debts or the World.

A recent number Of the Frankfort
ZeitD,g gives the nstional debts of the
leading countries Of the world for the
year 1879, az compared with 1865. The
general result is q frightful degree OF
increase, and il shows what q, conserva.
tive people we OF the United States are
in the average, and how much more ca.
pable of securing our own interests by
self government than other countries
are through the adventitious control of
self constituted rulers. In the period
of fifteen years between 1865 and 1879
the debt of Great Britain has been re.
duced 3.S per cent, but still stands at
g.. COZ 10000, with n deficit of $50, 600.
600 10 be met by the present chancellor
of the exchequer. The debt OF France
has increased asa per cent, and is now
greater than that Of any other country,
touching within fraction of 81 600, COO.
coo. The debt of Russia has increased
1855 per cent, and is still growing rap.
idly, through the operation of causes
over which the imperial government
has practically no control. The debt Of
Spain has increased so per cent. and
now amounts to e, ,499 600, 900, virtually
an unmanagsblc sum for that impover.
ished kingdom. The debt of Italy has
increased 1922 per cent, 10 nearly a..
00O,OO0,0OO. and compels a rate Of taxa.
ton so enormous as TO keep the people
in a state of chronic discontent. The
dept of Turkey has increased i2l.7 per
cent, and OF the Turkish provinces
1910 per cent. proving all these coun.
tries TO be bankrupt. The debt of Ger.
many has increased Tl.6 per cent, but
is still maintained within very moderate
limits. Portugal owes $392. 700, 600, hav.
ing increased her debt LOG Q per cent.
The debt of the Netherlands has only
been augmented 81 per cent, but that
OF Belgium has increased l4S.7 per
cent, that State, however, having avail.
able valuable assets to show for it, in the
shape of the purchase of railroads and
telegraph lines.
The debt of Greece has been increas.
ed 1883 per cent, and the country is
about insolvent. The debt of Sweden
has increased e66.7 per cent, and that
of Denmark 10 per cent, and that of
Norway 1863 per cent. Switzerland
has increased its debts from STA 900 in
1865 to 81, ,664 600 in 1879. an increase
of 1888 per cent, incurred in the con.
struction of great public works such as
the st. Gothard Tunnel. The reduc-
ton of the debt OF the United States
since August, 1868, has been $76l .3l9..
$50, or 2T.3 per cent. In that year the
public expenditures of this country
were 81 ,2l1, ,704. 1879, OF which more than
half was raised by taxation. In 1879
the expenditures were reduced to $780,.
1888. In all the European countries
named above, however, the public ex.
penditures have largely increased in the
course Of the fifteen years, those of
France rising from $i49s20, 600 TO s567,.
800. 900. Great Britain from 1921. 300. 600
TO s406, $50. 900, Russia from $245, ,6l6,.
600 to $5ll, zoo. 600 and Germany from
$l5l ,6O6, 600 TO 1914, ,39S. 900. The sgere.
gate of all annual expenses of the Eu.
ropean countries named, and including
also Austria Hungary, has risen from
81 sos. .2SS, 900 in 1865 to $2,7SS.646 900
in 1879, an aggregate increase of ID
per cent. The increase in net ordinary
expenses Of the United States from 1865
to 1879 has been only % per cent, while
the same expenses in Germany have In
creased l01 per cent. in the same time,
yet Germany is the most frugal govern.
ment in Europe. The steady reduction
of the debt in this country and the
constant solicitude Of the people 10
prevent an inordinate increase in the
average running expenses of govern.
ment are facts upon which our citizens
can reasonably congratulate themselves.
They show that self governmnnt Il not
merely q name, but a thing of reason
and judgment.