Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1885-05-06
The Astonishing Decrease in the
Public Debt.
DEBT OF OTHER NATIONS
Compared With That Of the United
States---Manitoba and the
United States.
LATEST GOSSIP FROM THE CAPITAL.
ISDseinl % ths RsniSisr.

end IN eight weeks Will be over S0O,VVu,uVV'
This will not be so great as in some former
years, but it is faster than we generally sup
pose. Five millions of dollars month is
$l66,OOO a day or 800 a minute. This is q
pretty rapid rate at which to be extinguish-
ing the public debt in spite of the people
who are crying all the time that our debt is
growing less in an imperceptible,way. The
debt is now only Sl4O0, 100000 in round
numbers. OF course this deducts from the
cash in the treasury and it ought to do
so. The cash in the treasury. is put there
to redeem the greenbacks and gold and sill
yer certificates, and as these greenbacks
and gold and silver certificates are counted
as a part of the debt the cash which is al
ways on hand 10 redeem them ought to be
counted as an offset The debt statement
gives this as s., ,SS3,000,000. Deduct from
this the cash in the treasury, which amounts
to $483,000, 900. and you have the debt cut
down to $l,4OO,OOO,OOO. The reduction
of the debt this year has not been
as great as in former years, but even at the
present rate the public debt
will be wiped out in about twenty-five years,
or about the time which has elapsed since it
was created. People who are in the habit
Of groaning about our public debt being too
great to bear will do well to inquire about
the debts Of other nations.
Take Italy for instance, whose population
is Just about what ours is. Her debt is
over two billions of dollars. or about three
times as much per head as our own. Rus
sis, who is apparently eager for war, has
debt of three and half billions Great
Britain, whose population Is but thirty.
five millions against our ffty.fve millions,
has a debt OF three billions seven hundred
millions, or about four times as much per
head as We have, and yet Great Britain is
supposed to be exceptionally we'll of.
France, brilliant and elastic France, whose
recovery from her terrible war few years
ago, has been the wonder of the world is
carrying debt Of four billions seven hun
dred and fifty millions, or I'VE times as
much per head as our country is carrying.
Our debt is about $25 per head all around,
that of Russia almost $40 per head, that Of
Italy nearly $75 per head, that of
Great Britain q hundred dollars apiece,
and that of France about $l.30 for each
citizen. The interest charged on debt OF
this sort is something enormous, more than
the people can stand under tor any great
length OF time. Our debt only little over
q billion bears interest, or to be exact ST.
1876 l5O,3j0. Of this only as much as
$3.50, 100000 bears as much as four and
one-half per cent. interest. 1t is interest
ing to see how much money remains in the
treasury unclaimed after the interest has
ceased to accrue. On some Of this the in
terest ceased half century ago, while on
large sums interest has not accumulated for
twenty years and vet the interest has never
been asked for.
What you suppose is the explanation
of the delay in presenting these bonds tor
payment, that have been due so longY
your correspondent asked of an.otficial,
running over the curious hist, which BY the
way tcots up several millions Of dollars.
That mystery he answered with
smile 81 suppose some OF it has been lost
or stolen, some of it burned up, some OF it
stuck away in forgotten places, and perhaps
some is held by people who do not know
that they baVe the bonds at all. There
sometimes come to US some Of these that
have come to the light by some curious
turn in the wheel Of fortune. OF course
very condideraoe proportion of them will
never turn up or be presented for payment.
Manitoba and the United States,
The troubles in the Manitoba country il
lustrates anew the difficulty which Canada
is always going to have with that section
which feels itself much more closely allied
By nature and circumstances with the
United States than with Canada, from
whose more settled and prosperous pro-
vinces it is separated by nearly 1000 miles
of Unproductive territory. The United
States is the natural market and manutac-
tory for Manitoba, and to compel the
farmers of that province to procure their
supplies from a country 1000 miles away
and with which they have no bond of union
other than political, is a hardship becoming
every year more oppressive. \ system OF
commercial reciprocity would remove the
hardship but there is no general inclination
on this side Of the line to let down the bars
for the benefit OF the Canadians. 1t
is apparent that the United States
can get along without the Dominion good
deal more comfortably than the Dominion,
or at least part OF it, can get along with
out the United States, and the time will
probably come and may not be far distant
when the Canadians will suppicste for ad-
mission to the American Republic.
The Navies of Europe.
The German diplomats who are among
Europe's last students of the art of Sighting
say that they are not surprised that Russia
does not enter into war with England in a
contest that must be mostly on the water.
They say that Great Britain holds first
place with her iron.elad fleet; France.
second; Germany, third; Austria, fourth;
l,sly, fifth, and Russia, sixth place. France,
however, is building at present fourteen
vessels Of the most powerful description,
and eight similarly powerful irOn-clad YES
sells for coast defense against several line
of Battle ships and Eve iron-clsd cruisers
building in Great Britain. In few years,
therefore France viii be able to Gsp0.e
Of thirty battle ships. Of which twelve are
Of first class lighting power, and
Great Britain of thirtytwo battle. ships,
numbering, only 3 single vessel OF about
equal strength 70 twelve French ships.
Italy is constructing 6ve battle ships Of
frst-class power; Russia, three battle ships
and three iron cruisers; Germany, one iron
clad cruiser and two ironclAd gunboass;
Austria, one battle ship; Denmark. one
ironclad for coast defense. Great Bri.ain's
pre- eeminence on the seas IA, theresors, de.
cidedly menaced BY. France bat not Ag Rus.
sis.