The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1894-07-25
Costly Peace.


sasatned peace throughout Europe,
can hardly be appreciated. The
figures are fairly bewildering IN
the North American Review NJ. G.
sshhlhM gives some of tie satisfies in
deail. dle compares the condition
of Europe at the close of 1893 with
the condition of 1885 In the eight
years embraced in that period there
-wass increase Of 81 per cent in taxa.
tion aud of II per cent in the public
debt. The average annual revenue
receipt, for the same period were $2,-
$50. .0O0. 900, and the expenditures
So, 300, ,O0O, 900, an excess of expendi-
tnres of $320, 900. 600 per annum In
the same period the public debts
increased $1,000 eco. 900 that is to
say the increase ofsthe public debt of
Europe in eight years under consi-
deration, years.of comparative peace.
exceeds the entire debt of the United
States at the close Of the war Of the
secession. While it is true says the
Troy Press, that part of this increase
in the debt Of Europe is due to
permanent improvements, no other
item is large as that charged against
ornaments. Ofthe 81, 900, 200, 900 of
debt the sum of $l30.00o. 900 was
incurred for state railways and $780,
000. 90 for telegraph lines, while ST..
l4O, 600, 600, 900 was for the armament
sof the continent, including, Of course
Great Britain. Even this stupendous
amount does not fairly represent the
full account chargeable against the
armed peace, for the railways and tel.
egraph lines, tosa certain extent, we're
constructed for war purposes. These
are potent factors in constantly in
cressipg the total debt, for they do
not net enough to pay the interest on
the money borrowed to pay the
expenses of their construction. We
learn that the strictly military expen.
ses of Europe increased from $780,
000, 900 per annum at the beginning
of the eight years to $130,0O0,0OO in
1893, an increase of about $50, ,00U,-
600 per annum. In the same period
taxation for all purposes increased
from $2,6S5, 200, 900 to $3.254, ,0O0,-
900, or $3.50, 100000 per annum.
Even with this tremendous increase in
taxation the public debts have in'
creased in that time nearly $3,0O0,-
eoe, 600. being now about $15,000.-
:000, ,0)9 for alt Europe. tits evident
from the reports that have reached US
by cable during the past year or 80.
that taxation has reached its practi-
cable limit in most of the countries of
Europe. The governments are exact.
ing all that the people can possibly
pay and in some countries, notably
Italy, it is impossible to meet the
demands; and Notwithstanding this,
the rate of taxation is constantly on
the increase. Nobody who has
studied the situation, even super
ficially, will deny that Europe, as a
whole, is nearer bankruptcy than ever
before, and unless radical reform be
inangurateda a gigantic crash is newt
able. But this is not the entire pro-
blem Besides the vast amount Of
money going to waste in maintaining
this armed peace, many millions ofmen
are continually kept from profitable in
dustry, the foundation of all prosper.
ity. This in itself is enough to pro-
duce stagnation in business through.
out all Europe, and the effect of this
upon the civilized world at large can
not be gainsa:d. Europe is making a
grand, a disastrous mistake.
Gen. Grants family, it is said, have