The Wichita daily eagle. [volume] (Wichita, Kan.) 1890-1906, 1902-06-04
DEBT Of THE WORLD
Some Remarkable Figures
Showing What Nations Owe.
PARIS PAPERS COMMENT
Refers to Mr.. Austin as Ber-
tiIIion Of America.

III d measure IS d compliment 10 the
American bureau of statistics. 1t says:
Figures have language of their own.
To be sure it is not the language of the
flowers, it is a more rude one. 1t must
be said. however. that they have an elo-
qupence of their own, against which no
quibbling viii stand. which sweeps away
all sophistries, which oftentimes is as
sharp as the knife of the gEillotine and
at times even causes a SILVER.
had just this feeling when reading
the study of a high American official,
Mr.. o. p Austin chief of the official
bureau of statistics, a sort of transatlan-
tic Bertillion.
The Worlds Debt" is written at the
front of the work. and indeed Mr.. Austin
deals with the debts of all the countries
of the world He does il with a sort of
delight. for in the temple where he as
senbles the budgets of all the nations
the United States have somewhat the
right of occupying the place of the Phar-
isee of the New Testament, and looking
straight in the face Of the god of bank
ruptcy of exclaiming: 20 Lord l thank
Thee that Thou hast not made me uike
the publicans of Europe, who do not
know how to put accent aside, who arc
given TO the most shameful and unbri-
died squandering. and who by long strides
approach bankruptcy and ruin" And
the publicans. particularly we poor pub
licans of France, can but sigh, strike
our breasts and PROSTATE ourselves on
the ground.
But listeni In 1901 the worlds debt
amounted in round figures to L, 600 mil
lion francs; in 1s4S. after the Napoleonic
wars, it was 1900 millions; in 1901 the
worlds national debt was $4,000 millions.
The worlds national debt increased
then, within the last century by $4,000
millions; but whereas during the first
part of this century, Notwithstanding
the gigantic wars which then unsettled
the condition of a part of the world, it
increased but at the rate of three to one,
the increase during the second part of
the century was at the rate of ten to
one
Listen further Towards this increase
each nation has contributed with all its
power. They seem TO have been engaged
in something like a race. the nations of
the Old World especially rivaling with
each other as to which of them would
spend the most money and acquire the
most crushing debt burden.
Amidst this storm of folly which shook
the world, only two nations preserved
during forty years reduced its debt by
5000 million francs, and the United
States, which reduced theirs by over
1000 million francs. All the other ma
tons permitted themselves to be carried
away by the whirl.
The Austrian debt, which in 1856 was
but 1900 million francs, reaches at pres
ent the figures of $500 millions; the debt
of Germany has grown from $50 millions
in 1870 to 2.795 millions at present; taht
of Italy, which in 1869 was 1000 million
francs is nok 12.9l5 millions The debt
OF Russia which in 1858 was coo millions,
exceeded in 1900 1900 millions. France is
easily winner in this contest. Her debt,
which in 1852 was little over 5000 mil
lion francs, amounts today TO about % 900
millions, or almost six times the amount
in the former year constituting almost
one-ffth of the total worlds indebted
ness.
II one analyzez the debts of a group
of nations which may be called Germanic
it will be seen that these debts have for
the last quarter of a century been due
chiefly TO the purchase OF construction of
railways These nations. which during
twenty-five years have Increased their
debt by no more than three and one-half
thousand million francs. own at present
their railways, possessing in them ply
total debt. and deriving therefrom
revenue almost sufficient for the ser
vice of this debt
Almost the same holds true in the case
Of the group Of Slavic nations. The lat
ter have increased their debt considera-
bly, more than the Germanic nations.
During the last twenty-five years the in
crease amounts TO 10000 millions. but
they as well accumulated meantime as
an Offset of the increased debt assets
which are a partial equivalent Of their
Indebtedness.
Quite . different picture is presented
by the group of nations. These latter
have within the last twenty-five years
increased their debts by 25.eoo million
francs. Spain and Italy very nearly dou-
bied their debt. France almost trebling
hers In return they cannot be said TO
have acquired any well-defined material
assets. France particularly. which per-
haps more than any other nation. has
spent on her railways. viii have to wait
until 1864 10 acquire ownership Of her
railways.
II the reader VIII stop long enough be-
fore the figures Just presented to his
eyes ne viii not have 10 wait long TO
be able to listen TO their speech and 10
know what they say. They say that a
country. as France no matter how pros
porous and great. cannot with IMMUNITY
increase its public debt BY 2s.no1 millions
within fifty years when other countries
equally rich diminish their debt by that
amount in the same space Of time They
say that when a nation. as France. in
creases its debt by about SO million
francs a year its taxes must fatally in
crease. and owing 10 this increase. its
savings diminish. They say that there IS
q point Of time when a nation. nosmatter
how rich. can no more bear new tax
burdens, Just as j human being. no mat
ter how strong his energy. can 30 beyond
a certain limit Of effort. They say that
France has now arrived AT this extreme
point CT time. and that IL during the
half century 10 come she is 10 continue
on the downward grade Of her extrava
gance and mad expenditures AZ the same
startling rate Of speed which she main
tanned during the half century just end I
ed she VIII break down under the burden.
stumble ard fan
This IS the language spoken by the en-
isuaTical figures which the stattftfcisus