The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-04-29
Burden of Taxpayers Now Ten Times
Greater than I'm Closing Years of
the Eighteenth Century.
NATIONAL WEALTH SAME RATIO
HAS KEPT PACE WITH GROWTH OF
THE WORLDS PUBLIC DEBT.
Population. However. Has Increased
$50 Per Cent. aud the supply OF
Gold and silver 800 Per Cent.
to tho indianapolis Journal.

Special TO the indianapolis Journal.
WASHINGTON. April 2s.-The recent
announcement of a new British loan of
$500. 600 600 lends interest Co a statement Just
Issued by the treasury Bureau of sta
tistics regarding the national debts OF the
world. This statement shows In brief that
the national debts OF the world aggregated
moro than $50. 100000 at the close OF the
nineteenth century, or ten times as much
a. I'm the closing years OF the eighteenth
century In iia3, at tho beginning OF the
Napoleonio wars, the national debts OF the
world amounted to approximately 81 1900, O0O,-
COO. I'm 1900 they were, according 10 the best
Information ohtainablc, 81 ,0oO,0 100000, In
general terms IL may be said that the
worlds national indebtedness In 1900 asgre-
gated ten times what II did at the begin
ming of the nineteenth century. Meantime
population has increased ib0 per cent. and
gold and silver. which form the basis OF
the money with which debt payments are
made, 800 per cent, though the proportion
OF the existing gold and silver which IN
turned into coln n now much greater than
NJ the beginning of tho nineteenth century,
while the utilization of the various forms OF
credit an currency may have increased the
worlds circulating medium quite IN proper
ton Go the increase IN It's national debts.
Whether national wealth has increased
as rapidly ~ national Indebtedness In equal
~ difficult 60 determine, since official eatl-
mates OF national wealth were made az the
beginning of the century IN the ease OF
only a few nations. The wealth OF the
United Kingdom, France, spain aud the
United States In iSN m estimated at $780,
ga, Gl0.oo0. while Mulhali In iSas estimated
4f.la .u..Ial -. aims nEa luu 49,. -. ....t..s
~ ten times that at the beginning OF the
century, The debts of these four nations
In i7pa aggregated but 4 .Gao, $4,000 and In
1900 were 81, ,6i, Ooo,o or seven times aa
much az In las, II the rnte OF growth IN
wealth which has characterized the four
nations, whose growth during the century
may be- also properly applied TO the world
az large. II may be said that the growth
of national wealth has about kept pace
with that of nationl indohtednepe. since
national wealth In the eases where II can
be measured IL to-day ten times as great
a. at the beginning OF the nineteenth
century and the national indebtedness
where Il can bc measured IL to-day about
ten times what Il was at the beginning
| OF the century,
CAUSE coz THE INCREASE.
This enormous increase IN national IN.
dobtcdneas In chiefly the result OF wars,
standing armlca and works OF public util.
ny. 10 this may bo added a tendency IN
many eases 90 create nn annual deficit by
expenditures exceeding revenues, made IN
Difference 60 popular demand, which def
icita ultimately take the form OF n funded
or bonded Indebtedness. Hut the bulk of
these enormous debts 10 from war and war
preparations and tho construction OF public
kN.tAa A44aH ~ salNlHNa .utula laYl.A0a
and the Improvement OF waterways. OF
the railways OF the world, whose total cost
has been estimated ~ $4,000, 100000, about
onc-third are owned 10y national govern
mentr, indicating that approximately one
third or tho Increase IN indebtedness has
been applied TO works OF this character.
Hut tho fact that great wars have COM
PEELED the nation engaged IN them to IN
atantly make enormous additions Co their
funoed indebtedness clearly Identifies this
a. the principal factor In the great in-
crease Ia national Indebtedness which has
characterized the history of national
finances In the nineteenth century, In las
the debt or England was fid,O Oo,O 00, while
the seven years war brought IL In 1868 90
about eiaa,0OO. 600. The years OF peace in
tervening between that date and the be-
ginning of the American war somewhat
reduced the debt, but at the termination
of the war with the American colonies In
1854 the debt. OF England was f27a. 900. 900,
y reduction followed during the ten years
OF peace, but the twenty-one years OF war
from ll9i 10 1915 left the total debt AT
$500, Oo0. 900, the highest point which n has
ever reached. The thirty-nine years OF
peace which followed reduced II 20 eSOO.-
900. 900. but the Crimean war, which lasted
two years, again Increased IL To eS3i. Co.,
600, while the South African war AT the
close of the century recorded another In
crease OF $50. 600. coo OF funded indebtedness.
besides a considerable increase by ex-
chequer bonds. To which may still be added
the recent loan OF f60,000.0OO Just am
nOunced.
Turning to France. the evidence of In
creased indebtedness by war is equally
apparent. Her national debts at the be-
ginning of the second empire are estimated
by Baxter at E245. 900. 600. and by the ex-
penses OF the Crimean. Italian. Chinese.
COchin-China, Mexican and German wars
had. according to the same authority.
reached f55o.O 600, 900 by 1871, while the issu-
ance OF securities amounting TO 2,277 mill
lion francs In 1871 t~estifes TO the cost OF her
war with Germany.
In our own history the increase of the
to 49, ISL .0O0. 600 I'm 1866, and from SS47, OOO, 900
In 1898 TO l.046, 100000 I'm 1899. further evil
dences the relation OF war TO the growth
of national Indebtedness.
The relation of war. with it's ever-increas-
ing cost, to national Indebtedness Is fur
Their shown by a study of the detailed debt
statements OF the world at various periods
during the century, presented I'm the follow
| ing table. From 1923 TO lS4S national debts
only increased from 81. 433. 900. 900 to s.. 4ls. 600
| 600. The latter half OF the century, how
ever, has experienced great and costly
wars. the Crimean. the civil war In the
| war between China and Japan and those of
the closing years OF the century. And ac-
companying this period the national debts
have grown from $. 419,Oc0,OO0 in lS4S to $751;
500. 600. 600 in 1901. as will be seen from the
table which follows:
1898 81. i33. $50. 900
$50 l299. 10000
1913 ls,Ot5,OOO