Bismarck daily tribune. [volume] (Bismarck, Dakota [N.D.]) 1881-1916, 1913-11-21
The Indebtedness of Nations

The national debts of the world now aggregate
AZ billion dollars, having increased 20 per cent in
the last decade and doubled in the last 40 years.
The interest and other annual charges amounted in
1912 to 1872 million dollars, or an average of slightly
more than 4 per cent, though in many cases, espe-
cially those of the stronger nations, the interest
rates are materially below that figure.
The above figures, compiled by the Bureau OF
Foreign and Domestic Commerce, Department OF
Commerce, for publication in the 1913 volume Of the
Statistical Abstract of the United States, include the
Indebtedness of every country and colony Of the
world for which figures are available from official
sources or accepted authorities.
The largest national debt is that of France, 1884
million dollars, the next largest being Russia, 1853
million; the United Kingdom, 1886 million; Italy,
2,707 million: Spain, l, SIS million; British India,
tl,475 million; Japan, 1,242 million; and the United
&tates, 1923 million. The debt of the German En-
pire is stated at 1873 million dollars, and of the
German States, 1886 million: that of Austria. Hun
gary, .O5l million; that of Austria, 1,434 million;
snd OF Hungary, 1858 million dollars.
Practically c! the important countries show an
increase in national Indebtedness in 1912, compared
with 1902. In the case of France, the figures for
1912 are 6,2S4 million, against 1857 million in 1902;
Russia, 1853 million in 1913, against 3,414 million in
1908; Japan, 1,242 million in, 1913, against 262 million
III lJOl, lue GeTWdn EWplTe, LILO mlllIOu III lSlI,
against 500 million in 1902; the German States, 1896
million in 1912, against 1858 million in 1902; British
India, 1,475 million in 1912, against LOB million in
1902; Italy, 2,7O7 million in 1912, against 1861 million
in 1902; and the United States, 1923 million in 1913,
against 925 million in 1908. The United Kingdom
shows a slight decrease, the figures for 1918 being
3,4S6 million dollars, against 1886 million a decade
earlier.
The aggregate of national Indebtedness, including
all countries for which data can be had, was, in 1900,
21-2 billion; 1850, sl2 billion; 1900, 81 IA billion;
and 1912, AZ billion dollars.
Interest rates, as above indicated, vary greatly,
the stronger nations obtaining lower rates for their
securities; the average annual rate upon the indetk-
edness of the United States ranging from 2 to 4 per
cent; in The case of the United Kingdom, PIP to
23-4 per cent; Russia, from 3 to 6 per cent; Japan.
from 4 tot per cent; the German Empire, 3 to 4 per
cent; Nicaragua, 6 per cent; China, 4 to 5 per cent;
Panama, Z per cent; Ecuador, 4 to 10 per cent; and
Honduras, 8 to 10 per cent. These figures of interest
rates do not, however, fully indicate the actual rates
paid, since in a large proportion Of cases the securl.
ties in question were sold by there respective gov.
ernments at less than par, the United Stats being one
of the few nations which have defined to sell their
securities at less than their face value.
%s
A Washington dispatch says George Fred Will
liams and Louis D. Brandeis are in high favor at the
White House and will be consulted in the future upon
matters affecting Massachusetts,. Tie Mcclure syn.
dictate has Just taken over the Washington Herald,
and the story is current in Washington, although not
confirmed, that Mr.. Brandeis has an interest in the
property, and that it will be made an administration
~organ.-Boston News Bureau.
Los Angeles reports that its poncewomen are
making paper flowers to decorate the Jail. The