The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-02-14
FINANCIAL OUTLOOK
As Presented By the Elaborate Circu-
lar of sGlapp & &c.

As Presented By the Elaborate Circu-
lar of sGlapp & CO.
NEW YORK Feb. 1S.-Stately movements
NJ commerce give significance to petty trade.
man must have seen q mountain to
understand grain OF sand. He must have
witnessed a storm at sea in order to safely
navigate a harbor. Exchanges and asso-
slated methods Of to-day are the open eea Of
finance which feeds alike the soil with
moisture while it floats the massive steam
srs Financial waves and tides which ebb
nd flow are the giant mutiples of small
streams. Mountains Of sand become the
rock of ages by heat and cohesion. Public
continent crystallizss into legislation by
AGITATION. A public debt that represents
tbs Dolicv of the millions becomes the sal
eaton Of the commonwealth. 1t fires every
man with individual interest, and provides
T.. ballast for collective enterprise. II Is the
ssfe foundation OF public benefcence.
It ia the rock in the heart Of
the mountain. Political contribu-
lions to common interests do more than
POLITICAL divisions of plumber to promote
bohtical salvation. The reserves OF a mon
sreby are the extent Of military power to
enforce taxation. The reserves Of a repub-
lie are the assets Of the people. There is
great difference between we will and you
must. Great Britain and Ireland owes
about IS, $50 coo, less sinking fund,
Ss7 T9 per capita; France owes about S4,-
446,OCO,000, less sinking fund, Sll6 30 per
capita; Prussia owes about 81, los, 900, 900,
lass sinking fund, S37 Oh per capita; Spain
owes about 81 PSI. 900, 900, less sinking fund,
s73 SIS per capita Italy owes about 1884,
0eOOOO, less sinking fund, $40 06 per capita;
Austria. Hungary owes about 81, SGT, 000, 900,
less sinking fund, $40 "a per capita; Russia
owes about IS ,49l. 000,0 900, less sinking fund,
$50 10 per capita; the United States owes
about 81 800, 100000, less sinking fund,
$l3 81 per capita.
About no, 900, 900 people of all osher ma
tions beside ours have debt of about $685.
100000, 900, or S33 80 per capita, and $780,
100000 to 81. 000, 900, 900 gold in sight 60 pay
II. or about 81 per capita. Our money OF
ali kinds in circulation and in treasury
amounts to about 81, 1000, 600, or SS4 per
capita for IS, 900. 900 of people (S24 Al per
per capita being in actual circulation), about
sy Of which is gold. Our corporate fran
chise debt for public service is largely held
abroad, and is a large tax on private enter
prises. The entire debt of our national gov
ernment bearing interest is 1855 ,000, 600,
and all told, including notes outstanding
s., 500, 900, 900. $500, 900, 900 of which is off,
Get by cash in treasury. Our government
could. without unduly increasing taxation
or transportation Tor liability above that
incurred in the late war; issue s., 900, 000,-
900 Of bonds at per cent, and assume TO
pay of all railway indebted
ness within fifty years. after which it
would own all our railways. Railway stocks
and bond liabilities now equal about $10,-
900 0OO, 900. An increase of one-fourth Of 1
per cent. per ton per mile on over 300. DOC, 600
Of tons Of products moved annually would
probably pay al extra expenses of govern
ment above those already provided for, and
allow persons to be carried at pro rata rates
with mail matter.
Gold and Silver-The worlds supply of
gold is estimated to equal about per cent.
Of the worlds debts. The production is
about $140, 900, 900 year. We are export
ing several times as much as usual at this
season Of the year. New York banks seem
loyal to our government, caring litsle for
the interests of foreign governments.