NATIONAL DEBTS OF THE WORLD.
The Handels Zeitung, New York, has compiled some interesting statistics on the subject of national debts, from which we quote the following:— “The total national debt of the world is now $29,000,000,000, while in 1875 it was $23,750,000,000. France has the distinction of leading the world in this regard with a debt of $6,000,000,000, followed by Great Britain with $3,300,000,000. The third on the list is Austro-Hungary with $3,030,000,000, while Russia is fourth with $2,875,000,000, and Italy fifth with $2,530,000,000. Spain comes next with $1,395,000,000, and the United States is seventh with $996,141,952. Germany has a debt of only $420,000,000. “Spain owes comparatively the largest sum to foreigners, while in France the great bulk of the papers are in possession of the Frenchmen themselves. But nearly every other nation is indebted for enormous amounts to its own subjects. France takes the lead as a lending people on account of the good financial standing and the saving propensities of the people. “Rather remarkable is the increase of debt in Australasia, especially over against the repeated statement of Great Britain that its loyal colonies enjoy a higher degree of prosperity than do those that have become independent. Japan and the Argentine Republic belong to the States that have in recent years been contracting debts on a large scale, the former now having $235,000,000 and the latter $370,000,000. Borrowers on a somewhat smaller scale are Belgium with a debt of $445,000,000, Holland with $460,000,000, Canada with $255,000,000, an increase of $100,000,000 since 1875. The total debt of Great Britain, including the colonies, is $5,485,000,000, a sum almost equal to the debt of France. “One reason for the enormous increase of national debts is probably the fact that money is now much cheaper than it was twenty years ago. At present the total sum of interest to be paid on national debts is $1,115,000,000, while twenty years ago it was $1,000,000,000, altho the total debt at that time was $5,000,000,000 less than it is at present. In 1875 Spain and Mexico paid as high as 15 and 18 per cent. interest. Altho the national debt of France is so enormous, yet it pays comparatively the smallest amount of interest money, namely, $185,000,000, while Great Britain pays annually $125,000,000; Russia, $120,000,000; Italy, $117,000,000; Spain, $56,000,000; Austro-Hungary as much as $186,000,000. The latter country accordingly pays more interest than France, altho the French debt is twice as large as that of the Austrian Empire. It is interesting to note that each inhabitant of France must, on the average, pay each year $4.75 interest on the national debt: each Russian, $1.20; each Englishman, $3.15; each Austrian, $7.50; each Italian, $3.80; each Spaniard, $3.25; each American, 42 cents, and each German, 33 cents.”