Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1898-08-29
y = IVY 49, - 77ll77T 1900
The National Debts Of The World.

One billion dollars since the close of the
Civil War several Populist and Demo-
cratic conventions have recently de-
clared with lurid rhetoric that our
growing debt is our greatest danger
and that this country. above all others.
is being plunged into the abyss Of
financial ruin. It Is interesting to ex-
anime this matter and see where the
United States stands among the ma
tons OF the world as regards its public
debt.
Official statistics which cannot be
disputed show that the Anglo-Saxons
are the only people in the world who
have been systematic debt reducers
during the period from 1866 to 1897 In
this period the aggregate government
debts of the world increased about
$4,000. 100000. and today they are esti-
mated to reach the enormous sum Of
29.7S7. 100000. During these 81 years
the United States led all the countries
in debt reducing. In 1866 her national
debt was $2.773, 900. 900, and in 1897 it
was 81 sos. 0O0, 900. showing a net reduc-
ton of 1866. 600, 900. In 1866 the national
debt of England was $3,9S9. O00. 900. and
by 1897 it had been reduced to $780,
OOO, 900, or a net reduction of $3.50. O00, 900.
So it will be observed that the two
great Anglo-Saxon nations are almost
equal in the amount Of debt reductions.
The greatest debtor Of the world Ia
France. At the present time the
French national debt amounts to
$3.50. 100000, or more than three times
the debt OF the United States. During
the reign of Louis Philippe the French
debt amounted to only $3S,0O0.0 900. but
during the revolution and the second
republic it had risen to $1,0S5, 600 900.
From 1864 to 1870 one war followed an
other until in the latter year the debt
had risen to $2,424, 200, 900. Then came
the Franco Prussian war. which raised
the debt to s3,S75 ,0OO, 900. and since then
the debts for railroad and other public
works have raised it to the total al
ready given.
England stands in the second place
among the debt-owing nations, and she
would closely approach France in this
respect if the debts of her colonies
were added to those of the United
Kingdom. These colonial debts amount
to $1,000. 100000. which, added to the
mother country's debt, shows total of
$5,459, 100000, or three times our own
debt and nearly as much as the French
debt. And while speaking of English
colonial debts it may be interesting to
note that many of them show the
in the world. The per capita in
Queensland is 1898; in South Australia,
1921; in New Zealand, $298; in New
South Wales, $214; in Victoria, $161; lin
Western Australia, $3.50; in Canadas
SAT. And this leads us to the further
knowledge that when the per capita is
considered the United States makes
nearly the best showing among
civilized nations of the earth. The per
capita debts Of the leading countries
are reported as follows: France, SIG;
Great Britain, $S7; Austria Hungary,
to1x H-C.
$50; Spain, $76; Turkey, $37; Greece,
$40; Sweden, $13; Peru, $145; Honduras.
STAG; Argentine, $40; Brazil, SAL; Den
mark, SIS; Mexico. $40; Japan, 81;
United States, $14. 1t will be observed
that only Japan. Mexico and Sweden
have less per capita than our own
country. s
When the debts of Austria Hungary
are considered together the allied
countries occupy the third place among
the debt-owing countries of the world,
the total being, $685.. ooo, 900. Italy DC
cupies fourth. place. with a debt Of
81. 521, OO0, 900. the most. OF which has
been incurred since 1861. Considered
together. the. German provinces come
fifth. though THE German empire
proper has the least debt of all the
civilized countries. owing but $523. oOO,-
900. But by addsng Prussia. Bavaria,
Saxony. ETC., the total ID increased to
s.. 393, OOO, 900. Russia comes in the
sixth place, with a debt 0f 1892. oOe. 200,
and thenstollows the linked States in
the seventh place with q; total debt Of
81, sos, 600, 900. There is no means Of
estimating the national debt of Spain
at the present time. In 1896 it was re-
ported at s.. 2s2, OOo. 900. but 1t must have
been largely increased during the war
with Cuba and with the United States.
In all probability it nearly approaches
that of the United States. and, con-
sidered according to population. is six
times as great.
These comparative statistics become
of unusual interest in view of the cam
paign claims now being made by the
POpocrats in the West where cOnven-