Wessington Springs herald. (Wessington Springs, Aurora County, Dakota [S.D.]) 1883-1891, 1884-10-24
Tho Worlds Debt.

mulnill, tue SCaClSClcl80. MT. Mulhall
is the author of three of the most popu.
lar books on statistics yet printed in
any language-"Balance-Sheet of the
World" "7rogrcss of Nations" and
the Statistical Dictionary" His
statistical Dictionary is the first work
of the kind eve published. Nearly all
other branches of science have theil
dictionaries, but statistical science had
mono until Mr.. Mulhall filled the want.
In appearance MI. Mulhall is striking
ly like General Grant, as we knew the
latter fifteen years ago. Mr.. Mulhal]
has been a great traveller. He founded
the first English newspaper in South
America, at Buenos Ayres, the Stand
ord, more than twenty years ago, and
he and his brother are tho pres
ent owners. There are few parts OF
the world that he is not familiar with,
though this is his first visit to the United
States.
Nil. Mulhall is accompanied by his
wife, a lady well-known in the literary
world of London as q brilliant CONVEX
sationalist and the author of ''Between
the Amazon and the Andes" an ex-
ceedingly clever book of travelin South
1AiA1ClASOs 5lO pCuCCI OSlOu
hitherto unexplored by a oma Mrs.
Mulhall is a woman OF noble presence,
with strongly-cut, expressive features,
and tinely-shaped head.
In a conversation with the great sta
tistician, the Press representative in
quired what particular branch of EDO
Monies he was investigating at the
present time.
81 have recently" responded, Mr..
Mulhall, ''been making a close study
of the debts of nations from the treaty
of Utrecht in 1918 to the present
time.'
''What has been the increase since
them"
l.. The total national debt of the world,
not estimating local debts OF any kind,
in 17l3 was $685., 600, 900; in 1868 they
had risen to $1,415, 900, 900; in 1898 to
S2,S45, 600, 900; in 1916 to 81, 175, OOO,-
600; in 1S4S to So. 245, 000, 900; in 1870
to S19, $50, 900, 900, and IN 1854 | find
they had reached the appalling agggre-
gate OF 1927, l55, 600, 600.
"The increase, then, has been greater
of recent years."
Eyes. From the treaty of Utrecht
till the French revolution, a period of
eighty years, the debts of nations rose
$3.50, 600, OO0-that is, almost $780,
'O0o,Oo a year. During the ensuing
twenty-five years down to the battle OF
Waterloo, there was a rise of S4,34O,-
900, 900, OF nearly 5000, 600, 900 per
annum. From Waterloo down to the
present time the increase has been S2O,-
600, 0oo, 600, or almost $500, 0Oo, 900
yearly"
end?"
cat this rate the amount of public
debts IN 1900 will be considerably over
$4,000, 000, O0O. l do not, however,
see any eason for alarm. 1t must be
borne in mind that since lS4S the in
crease OF wealth in Europe has been
four and one-half times greater thar
the growth OF debt. If the debt goes
on Increasing from nowtill 1900 at the
rate of $60O,OoO 600 a year, and public
wealth 50, 700, 900, 600, Europe will be
richer at the end of the century than
At present."
''For what has this immense debt
been expended"
"Jo some extent on wars, but-the
sum l have mentioned by no means rep
resents the cost of the wars, which was
in a great measure betrayed out of rev
enue. For example, it will be found
that from 1713 to 1915 British wars cost
$3.50, O0G, 900, of which our ancestors
paid $2,620, coo, 900 and drew on pos.
terity for theiremainder. In like manner
the Napoleonic wars cost France
sl,275, OO0, 900, and added only $40,
100000 to the French debt"
&'Does the same hold true in later
yearsg"
1.-The year 1913 marks a new epoch
in the economy Of nations; the political
commissions all over Europe, the intro
duction of railways, the discovery OF
new gold fields. the birth of free trade,
moreover, the abolition of serfs in vari-
GUS countries, the invention of electric
telegraphs, the outflow of emigrants to
America and the British colonies, the
spread Of popular education and cheap
newspapers; all these circumstances,
occurring almost simultaneously gave a
great Impetus to human industry and
enterprise. From 1913 to 1884 the
debts have risen almost $3.50 OOC, 900,
or S523, O00, 900 per annuln, and the
money found employment as follows:
Lighthouses and harbors..:..:... lso,00O,,GN