Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1913-11-14
NATIONAL INDEBTEDNESS OF THE
WORLD, 1902 AND 1919

l WUhLD, lSVZ ANN lSlz
The natinal debts of the world now
aggregate AZ billion dollars, having in
creased 20 per cent in the last decade
and doubled In the last 40 years. The
Interest and other annual charg. 4
lamounted in 1912 to 1882 million dol
liars, or an average of slightly moe
THAN 4 per cent, though in many cases,
ESPECIALLY those Of the stronger ma
Itions, the interest rates are material
liy below that figure.
The above figures. compiled by the
Bureau of Foreign and Domestic Com
merce, Department of Commerce. for
pub LEGATION in the 1918 volume of the
statistical Abstract of the United
States, include the indebtedness OF
every country and colony of the world
The largest national debt is that of
France, 1924 million dollars; the next
largest being Russia, 4,553 million; tho
United Kingdom, 3,4S6 million; Italy.
2,707 million; Spain, /, 815 million I;
British India, 1875 million: Japan, l.
242 million; and the United States, l..
O28 million. The debt of the German
Empire Is stated at 1,178 million dol
lars, and of the German States, 1916
million; that of Austria-Hungary, 1851
million.
Practically all the important coun-
tries show an Increase In national In
debtedness in 1912 compared with 1902
In the case of France, the figures 70.
1912 are 6,2S4 million. against $685.
million in 1902; Russia. 4,553 million
In 1918, against 3,414 million in 1903;
Japan, 1922 million in 1913 against
262 million in 1902; the German Elm
lpire, 1,178 million in 1912, against 81:
million In 1902; the German States, s.,
736 million in 1912, against 2,b0c mir
lion in 1902, and the United States, l.,
02S million in 1918, against 925 million
in 1903. The United Kingdom shows
slight decrease, the figures for 1911;
being 3,4S6 million dollars, against 3,
1856 million decade earlier.
The aggregate of national indebted
ness, including all countries for whic
data can be had, was, in 1900, 1-2 bill
lion; 1850, 1-2 billion; 1900, 81 l.
billion. and 1912, AZ billion dollars.
Interest rates, as above indicated
vary greatly, the stronger nations oil
+, tanning lower rates for their securit
les; the average annual rate upon tn
Indebtedness of the United State
ranging from 2 to 4 per cent; in tn
case of the United Kingdom, 2 1-2 I
/; IL "a per cent; Russia, from to
per cent; Japan from to per cent
Il the German Empire, to per cent
China. 4 to per cent; Nicaragua,
o lper cent; Panama, I per cent; Ecuadn
e 4 TO 10 per cent; and Honduras, to !
/ per cent. These figures of intere'
rates do not, however, fully indicat
+ the actual rates paid since in a lare
= proportion of cases the securities
. lquestion were sold by their respectiy
, government at less than par, the Uni
n ed States being one of the few nation
. which have declined to sell their 50
> Icurities at less than their face value.
o The statement of annual revenue
cHu expenditures Vi INC SVNVAty -Ou
countries included in the list show
N total expenditures of 12,39S millio
Il dollars and total revenues of 1911
million. the figures relating in all ca'
" es to the latest available eyar, chief
II 1912 or the fiscal year 1918. Theis e.
Ie penditures in 1902 aggregated 7,9'
million dollars and their revenues Z
L 901 million, national expenditures ha'
81 ing thus increased over SO per ce.
during the ten-year period, while nj
Of tional Indebtedness increased about
re per cent during the same period.