The Spokane press. [volume] (Spokane, Wash.) 1902-1939, 1905-08-05
WHAT A $ s$sss MEANS
One billion.

one billion.
Think of handing over $1,000, 00O,-
000 to the man who's thrashing you,
so that he will stop.
II is intimated that Japan will de-
mand that much indemnity from
Russia.
In Russian money it is about AGO.
100000 roubles. In Japanese money
it is about 2,OOO,OOO,OOO yen.
Put yourself in Russia's place and
search yourself for the price of peace.
No doubt you would decide to pay it
on the installment plan, or, if you
are up to the devil-may-care finance
of an ordinary American municipal
fly, you will consider bonding the
debt and letting posterity pay the
principal.
But suppost you decided to tackle
the debt yourself. If your income
is $1,000 year-and the great ma
iority off incomes are much below
tllat---it would take you 100000
years to pay it, to say nothing of the
interest. And you'd have to go with
out eating besides.
Now the Standard Oil company
would be better prepared to meet
such an emergency. With it's net
earnings it could wipe out that bill
for IA billion in 20 years If it met a
bad year or two John d. Rockefeller
could help it out from his private
purse.
If Russia accepts the indemnity
now suggested, she will be paying
the Russian tongue. The indemnity
will be equal to Russia's estimated
stock of gold and silver. 1t will be
equivalent to the value of one-sixth
of all the gold produced III the world
since 1892.
The sum that the Japs will get, If
they do, will be equal to 81 head
for every white inhabitant of the
earth. 1t is little short of the total
coinage of the United States mints
since they began to turn out money.
1t is three times the worlds annual
production of gold, 1t will amount
to about SIS for every member of the
yellow race on earth. The population
of North America is estimated at
100, 100000. If we have to pay it,,
we'd be assessed $40 a head.
1t amounts to about $50 for every
square mile on the earths surface.
The receipts of the Louisiana Pur-
chase exposition were about 0,000,-
600. 1t would take, then, 100 exposi-
lions of that kind to earn such an in
demnity.
Even the czar, wealthy as he is.
would have hard time to pay ST.
000, 100000. His personal income is
said to be sl2,OO0,00 a year 1t
would take him the remainder of his
life and all of the czarewitch's to get
a receipt in full from the Japs. But
there is no danger OF Nicholas assum-
ing the burden. He will make the
peasants pay it,
AS another instance of the magni-
tude of the proposed indemnity, take
the building and loan associations of
the United States. To meet the pay
meut would require nearly twice their
total assets. 1t would take about two
or three times the value of all the
coal mined i'm the United States. more
than two wheat crops or practically
five times the dividends paid annual
ly on all American railroads; or, take
your choice nf these: One third of
all the pensions paid since 1861;
nearly 10 times the surplus of all the
railroads. A billion is about half the
amount of the money in circulation
in the United States. 1t Is equal to
the annual revenue of Russia 1t is
almost as much as the total bank
clearings of the United States, 1t IL
double the bank deposits of Russia.
1t Is as much as one-eighth of the
resources of the moro than $500
banks of the United states. The ag-
gregate of cash in the United States
treasury Is only about one-third more.
1t is larger than this country's in
terest bearing debt
If Japan gets her billion. she will
be able to buy about $40 battleships
like the oregon.