The Washington times., 1917-04-16
UNCLE SAM EASILY
CAN GET BILLIONS
John Poole Surveys Debt and
Wealth Of Nation as Affect
ing War Chest.

uncle sam Is about to ask the
people of the United States to lend
him seven billions Of dollars, an
amount SO stupendous that the mind
Of the average layman fails to grasp
its full meaning.
Even bankers-men who are accus-
toned to think IN large sums-hesi-
tate q minute before expressing an
opinion regarding the raising of SO
vast sum. On one thing, however,
all are agreed, bankers and laymen
aiike-Uncle Sam will get the seven
billions, and he won't be bent double
under the load OF responsibility,
either.
John Poole, president of the Dis
trict OF Columbia Banking Associa-
ton' VINO Is never SO happy as when
muchI thinking about the big loan,
and despite the overwhelming size OF
It, views 1t with optimism. President
Poole believes that Uncle Sam can
shoulder the burden and still skip
well in the lead of other nations Of
the world in matters financial
In fact, he thinks Uncle Sam need
nave no apprehension. He will get
the seven billions now without much
enort, and he can get a good many
more billions without drawing even
toward the brink Of financial distress.
Nations Small Debt.
President Poole points to the fact
that the total public debt as Of Ti,lv I
1915, was only 81, 1,37s,124,5931e, which
figure, being divided by the 100 600 600
people OF the United States. gives us
per capita debt OF some S1a7s. To
show how infinitesimal this amount
Is he points to the per capita debt Of
the other world powers before the
war. Germany owed $71.91, per cap
TIA Britain STAG, France S15o. SO.
Russia x26-26, Italy $s2.79, and Cam
ada $6o.34.
Ad TO Uncle Sans present in
deotedness OF. s1,37s,124,5e3.I5 the
SI,OO0,0O0. 900 about to be issued. and
total OF $S,376,124,5e3.15 is given,
which would bring the total per
capita debt up to SS3.7S.
Ihat sounds pretty large and looks
rather formidable alongside the fig
ures for the other powers before the
war. But there are two other big
things to be considered-present ma,
tional debt of the other powers,
which includes war debts, and ma,
tional wealth of all the nations in
volved.
Figures of the national debt of the
other countries areN not available
down to date, but President Poole
has them as OF July 1, 1916. They
show that Germany owed $234.2e per
capita, Britain $332.37, France 1851. .3o,
Russia, with its huge population, $50;
Italy $142.53, and Canada S11667.
Country's wealth Vast.
1t will be seen from the above that
even with the proposed 81 1000, ,0O0, 900,
Uncle Sans per capita debt will COM
pare very favorably with that of Rus.
sia July 1. 1915, and is too far below
that OF other nataIons to warrant
comparison.
And. now, coming to national
wealth. President Poole points to the
most significant fact Of all Here
Uncle Sanrs figures are as much in
excess of those Of other world powers
as are his debts smaller.
The last Official estimate OF the
Census Bureau on the country's
S1s7, ,739, OH 900 total wealth, or q per
capita wealth OF 1895. Since that
time, Il is reasonable to assume. the
country's wealth has increased very
materially. particularly in view of the
vast expansion In American indus
tries due to war business.
But, even taking It as OF 1912,
Uncle Sans more than S1s7 ,000, ,000.-
600 compares with 1916 figures of the
other nations as follows: Germany,
s92. .593. 900 900; Britain. ss1 ,953, ,s04.-
900; France. $50. .4e1 500 900: Russia.
s67 $40. $50 900: Italy, $20,249, ,271 900:
Canada, S12,537, ,200. 900.
President Poole points 70 the fact
that the resources o. tho national
banks and trust companies In the
United States alone. as OF March 5,
1917, were S25,979, ,0OO, 900. the largest
in the history OF the nation
Optimism Is Natural.
Twhen we consider all these
things" says President Poole, at Is
hard not to be- optimistic. No one in
this country who considers the facts
needs to feel alarmed over the com
ing $1,000, 100000 loan 1t sounds
like a lot of money-and II Is q lot
Of money-but this is the greatest
and richest nation IN the world, and
81 900 ,O0O, 900 to US is not nearly so
much as II sounds like.
"If a private organization started
out to raise this amount its doubt
less would experience considerable
difficulty in finding the money, even
at a most attractive rate of interest.
But when Uncle Sam comes forward