Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1895-01-17
WEALTH OF THEswORLD.

Some interesting comparisons are af-
forded by the census figures of the
wealth of the United States With the
estimated valuation of the other great
commercial countries Of the world. 1t
is not al uncommon impression among
those who have not examined the sub
| ject that the United States stand in
the front rank of the great commercial
nations in wealth and average earn
ings, but this is not fact. The aggre-
gate for this country slightly exceeds
that OF any one country in Europe be-
cause our population is so much larger;
but the per capita wealth is smaller
even at the inflated values returned
from some of the western states, and
there are few such stores of circulating
capital for investment in the United
States as in Great Britain and France.
1t is simple proposition that, if the
United States stood at the head of
commercial nations, she would COM
mand the money market of the world
instead of being tributary in a measure
to the Bourse of Paris and the stock
exchange of London.
The reported valuation of all prop
erty in the United States by the census
of 1890 was $65, 037, O91 1877, or 81 ,O36 per
capita for the entire population. This
enumeration, however, dealt with prop
erty located in the United States and
did not go into the question where it is
owned. If the estimate of Mr.. Robert
Giffen is correct, that 100000 in
foreign capital was invested in this
country in 1880, probably an even larg-
er amount is also invested at the pres
ent time. Deduction should also be
made for the high value put upon waste
public lands in the census, with the net
result that the per capital valuation of
the United States would be reduced to
about $3.50 or $4,750 for family of
five. Estimates made by careful econo-
mists, who come pretty near agreement
of Great Britain about nine years ago
at $4,000, 100000 and that of France at
SIC, O0OO00,000. This would afford a
per capita valuation of 81 1888 for Great
Britain and $1,081 for France, making
the valuation for family of five $500
in Great Britain and $5.405 in France.
The figures of France are placed some.
what higher by some authors, and the
total in both countries includes care
full estimates of the large holdings of
foreign securities, some of them cover
ing property located in the United
States.
The great holdings of foreign secur-
tiles, estimated to amount in Great
Britain to about $S,0OOO00,OOO, explain
to large extent the adverse balance
of foreign trade constantly shown by
the British statistics. Great Britain
would long ago have been denuded of
her gold and become bankrupt if the
excess of imports over exports shown
| by her trade STATISTICS were true
measure of her financial condition.
The fact that about $400,0O0,00O is due
her annually in interest charges upon
British capital placed abroad, explains
how she can afford to import several
hundred million pounds sterling of for
eign merchandise in excess of the do
nestle merchandise which she exports.
France is estimated to hold 81, 000,000,-
600 of foreign securities, largely Italian
and Spanish, and she also has been able
to show large balance of imports of
merchandise over exports during the
last two decades, while piling up in the
vaults of the Bank of France and dis
tributing through her monetary circu-
lation larger mass of coin than any
other commercial country.-U United
States InCeStOr.
| Headache and Indipestion