Savannah morning news. [volume] (Savannah) 1868-1887, 1884-09-14
THE WORLDS DEBTS.
An Aggregate Sum of S27 155 200, 600
How the Money Was Employed.

An Aggregate Sum of S27, 155; ZOO, 900
How the Money Was Employed.
Few ofthe mem bers Of the British Asso-
citation are better known by name in the
United States, says the Philadelphia
Press, than Michael Ct, Hulhail, the sta
tisEcian. Mr.. Eulhall IS the aatAcr CT
three Of the most popular books en- statis-
tics yet printed in any language. The
''Balance Sheet of the World" 'SPro-
gress OF Nations and the ''Statisti.
cal Dictionary" His statistical die
tionarY ist ne 1Yst work OF: he kird ever
published. Nearly all ether bra.ches
Of science have their dictionaries.
but statistical science had none until Mr..
MGlhal filed the want. In appearance
Mr.. Mulhall is strikingly like Gen. Grant,
as we knew the latter fifteen years ago.
Mr.. Mulhan has been great traveller.
He founded the first English newspaper
in South America, at Buenos Ayres, the
STANDARD, more than twenty years ago,
and he and his brother are the present
owners. There are few parts of the
world that he is not familiar with, though
this is his first visit to the United States.
Mr.. Mulhall is accompanied by his
wife, lady well known in the literary
world of London as brilliant converse
tlO0dllsL anu the AubuOT Vi -DSbWBGu the
Amazon and the Andes,o an exceedingly
clever book OF t. dYel In South America.
She penetrated regions hitherto unex-
plored by a woman. Mrs. Mulhall is a
woman of noble presence, with strongly
cut, expressive features and finely shaped
head.
In a conversation with the great
statistician, the Press representative in
quired WHAT particular branch of
economics he was investigating at the
present time.
81 have recently" responded Mr.. Null
hall, sheen making close study of the
debts of nations from the Treaty of
Utrecht in 1713 to the present time"
"What has been the increase since
thenw
"The total national debt of the world,
not estimating local debts of any kind, in
1713 was 1886, ZOO, 900; in 1863 they had
risen to $1,415, 910, $50; in 1888 to 22,e45,-
100000; in 1916 to S7,185, 000,0 900; in 1913
to s., 245 600 900; in 1870 to Sl9, 100, 600 900,
and in 1884 L find they have reached the
appalling aggregate of S27, 155, 900, 600"
1.-The increase then has been greater of
recent years~
"Yes. From the treaty Of Utrecht till
the French Revolution, period OF eighty
years, the debts of nations rose 81, 250,-
900, o0o-that is, almost $4,000 eco a year,
During the ensuing twenty-five years,
down tot he battle Of Waterloo, there was
a rise Of 81, 840, COO 900, or nearly $500, 000,-
600 per annufd. From Waterloo down to
the present the increase has been $780,
e0o, 00o, GOO, or almost $500, coo, 600 yearly"
chow will this piling up Of debts endW
Sat this rate he amount Of public
debts in 1900 will be considerably over
$35, GOO, 100000. 1 do not, however, see any
reason for alarm. 1t must be borne in
nd hot eli 1919 hn of
wealth in Europe has been ~ times
greater than the growth Of debt. II debt |
goes on increasing from now till 1900 at
the rate of $600, cox, 600 year and public |
wealth at 81, 900, 900, Europe will be |
richer at the end of the century than at |
present"
''For what has this immense debt been |
eXpendedY'
''To some extent on wars, but the sum |
1 have mentioned by no means represents |
the costs of the wars, which was in a great |
measure betrayed out of revenue. For |
example, it will be found that from 1713 |
to 1915 British wars cost s., $50, 000, 900, of |
which our ancestors paid $500, 100000 |
and drew on posterity for the remainder. !
France 1,275,OCe, eco, ard added only |
$540, coo, 600 to the French debt"
''Does the same hold true in later
yearsT'
1.-The year 1e4S marks new epoch in
the economy of nations; the political con-
all over Europe, the introduce
ton OF railways, the discovery of new
gold fields, the birth of free trade; nore-
over, the abolition of serfs in various
countries, the invention of electri, tele-
graphs, the outflow Of emigrants to Amer
lea and the British Colonies, the spread
of popular education and cheap neWspa-
pers; all these circumstances, occurring
almost simultaneously, gave great i'm
petus to human industry and enterprise.
From 1S4s to 1894 the debts have risen al
mcstS 19, COX, o00, eco, cr$ 525, Gee eco Per an.
mum, and the zaeney found employment
as follows