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 more. 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? 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. INDEX. [This Index does not enumerate the Loans issued by the various Colonial BRITISH EMPIRE. Total National Debt, at 31st March, 1863 and PAGE 1873 History of the debt Population. 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, Annuities for terms of years; Annuities, 1855; Information respecting stocks, defunct and existing 1789 Table of all British debts, with annual charge Sources from which the gross revenue is de- |