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Estimate of Additions to National Indebtedness in the Ten

Years 1862-72.

Increase in Decrease in

National Debt. National Debt. UNITED KINGDOM

£35,000,000 COLONIAL EMPIRE: India

£7,000,000 Ceylon


New South Wales. 6,000,000

South Australia

1,500,000 New Zealand.

9,000,000 Tasmania

800,000 Queensland

4,000,000 Natal

200,000 Cape of Good Hope

1,500,000 Mauritius .

Canadian Dominion 11,000,000
West India Islands

Other Colonial Possessions 500,000



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Colonial Increase

£47,000,000 FOREIGN STATES :

Argentine Republic and

Buenos Ayres (separate) £16,000,000
Austria and Hungary. 90,000,000
Belgium, say


2,000,000 Brazil.

55,000,000 Chili

7,000,000 Columbia .

(?) Costa Rica

3,000,000 Cuba

(?) Carried forward £178,000,000



Decrease in National Debt.


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Increase in

National Debt. Brought forward. £178,000,000 Danubian Principalities (in

cluding Raily. Liubility) 14,000,000 Denmark.

1,500,000 Ecuador

(?) Egypt (and Daira Debt). 70,000,000 France.

500,000,000 German States, say. 60,000,000 Greece

(?) Guatemala

500,000 Honduras

5,000,000 Italy

250,000,000 Japan (Foreign Debt). 3,500,000 Mexico

(?) Netherlands. Paraguay

3,000,000 Peru

32,000,000 Portugal

40,000,000 Russia

110,000,000 Spain

220,000,000 Sweden

3,000,000 Tunis

4,000,000 Turkey

107,000,000 Do., Railway Debt. 31,000,000 United States

350,000,000 Do., Separate States Uruguay

4,500,000 Venezuela



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Less Netherlands

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Net Foreign Increase . £1,981,000,000

From these figures it appears that the net addition to the direct debt of the foregoing British, Colonial, and Foreign Governments has in ten years reached the enormous total of £1,993,000,000; and the expansion of capital employed in joint-stock enterprise has certainly exceeded £1,000,000,000


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Supposing that the ten years' additions make the aggregate of £3,000,000,000, and that this rate of increase is continued, what would then be the issue at the close of the present century ? The issue would just be this—that in the year 1900 the national debt and investments of the world would have risen from, say, £6,800,000,000, as we suppose they may now be, to £15,000,000,000 ; and here again we ask, what is to be the issue then ?

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The dry details of “Fenn on the Funds” could, perhaps, scarcely have suggested a question so interesting or so momentous. Upon this question of indebtedness hangs a world of vitality and progress with which the future well-being of mankind is signally identified; and it would be a very narrow view of a very mighty question if we could regard it in any other light. Humanly speaking, we are only at the commencement of a new era. The pigmy adventures of a century back, which now we regard as utterly insignificant, may be as small in the eyes of our grandchildren as those of our grandfathers are now. But of this there can be no question—that with this modernized system of credit the world has acquired light, health, progress,

, and prosperity; that every man has more of the world's goods than could have been boasted of a century ago; that every man is better educated; that every man is a better citizen ; and that if these are the results of indebtedness, we may fairly leave the solution of the problem to the future with that confidence which experience well earned amply justifies.

As to the quality of the work given in the following volume, and upon which these vast figures are founded, we will say little. There are the figures to speak for themselves; and they are as accurate as all the information at our command will permit them to be.


[This Index does not enumerate the Loans issued by the various Colonial

and Foreign Governments, but particulars may be found of all such in the
articles upon the States issuing the Loans.]





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Total National Debt, at 31st March, 1863 and

History of the debt
Yearly statement of debt from January, 1825, to

present time, with annual charge.
Terminable Annuities
Details of National Debt at 31st March, 1873, with

annual charge, &c.
Sinking fund
3 per cent. Consols, 3 per cent. Reduced Annuities,

Bank of England Debt, New 3 per cent. Annuities
New 5 per cent. Annuities, New 31 per cent. Annui-

ties, New 25 per cent. Annuities, Irish funds,

Savings Banks' Annuities
Annuities for terms of years; Annuities, 1855;

Red Sea Telegraph Annuity; Life Annuities
Dead Weight Annuity
Information respecting stocks, defunct and existing
Highest and lowest prices of Consols, yearly from

Table of all British debts, with annual charge
Revenue and expenditure since 1857, estimates

and actual amounts, statistical abstract
Local taxation
Sources from which the gross revenue is de-

rived, with yearly amounts, since 1858 .


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