The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-08-12
THE DEBT or THE W0R1D.

THE DEBT OF THE WORLD.
The world is a spendthrift and always
in debt Eliminating the element Of in
6ividuaI Indebtedness the national debt
of the world is placed at $81, 2O1, $4,000
The six greatest debtors among the ma
lions are France, Russia, Great Britain,
Italy, Austria and the United States,
France leading the list with a public
debt of about $1,000, 600, COO and the United
States failing along with the comfor-
table sum of about $1,000, 600, 900 on which
it pays interest.
1t is a recognized principle of politi-
cal economy that nation is stable in
proportion to it's national debt A ma
ton without a national debt is liable
to be riven by internal strife, and
harbor plots and revolutions. A ma
tional debt is a bond of union to keep
the government intact
When this national debt is held largely
by the citizens Of state, patriotism is
striking characteristic of the people.
1t may be somewhat inconoclastic to
say that patriotism bears direct rela-
ton to the money interest the people
have in the government, but that seems
to be the fact When the national debt
is large and is held not only at home.
but abroad, an additional influence is
brought to the support of the nation
the foreign money power The national
debt of England has long been regard
ed as it's strength Immediately after
the Crimean war is stood at the enor-
nous figure of $4,OS2, 596, 60S. A half CEN
fury of peace reduced that amount
$1,O0O,OOOOOO, but it seems in a fair way
to reach the high water mark again.
There is no doubt that the national debt
OF England explains many outbursts of
patriotism on the part of men of wealth.
Many a diplomatic battle has been won
for John Bull because of the heavy load
Of debt that that he carries British
eonsols are owned in every money CEN
ter Of civilization and the capitalist has
much influence at court
The national debt Of the United States
reached its maximum in 1866, when it
stood at $2,773, 236, 173. From that time If
steadily decreased until 1891, when if
stood at $685. SCI, 695. Since then it has
steadily increased until now it exceeds
$4,000, 100000. Instead of an effort being
made to decrease the incumbrance the
policy of the government ffnanciers seems
TO be to increase it, During the last
decade the public debt has increased to
the tune of $60O,000O0O A pretty fair
showing for ninety DAYS war As
lcng as our present banking system is in
vogue the national debt must be kept ar
par to afford sufficient foundation for q
circulating medium
The Bankers Monthly figures that fac
burden of the national debt falls the
heaviest on the people of Austria. The
charge per capita amounts to $3.50. 80 with
an annual interest of $l014. France follows
with $3.50 and 1929 annual interest In
the United States it is the Iigntest being
Dut N4R and SO.44 interest on each
head. Following out the old principle,
the United States is the least stable Of
the governments of civilization, while
France Austria and Russia are rock-bur-
tressed in debt And England is making
rapid strides toward a stability that will
rival the pyramids
1t may be interesting in this connection
to note the fact that in 1885 our national
debt was only $37 ,5S1.
There is really no reason now Why
Uncle Sam should owe a cent Billion
dollar congresses are luxuries in which
a sensible people will not indulge. How
ever, as long as the extravagance and
corruption in official places is allowed
and encouraged as it is today, the public
debt will continue to increase.