412 INDEBTEDNESS OF THE UNITED STATES, OF THE STATES, ETC. 



debt in 1700 was, exclusive of annuities, $61,- 

 317,900; but in 1763 it had reached nearly 

 $647,244,500. After a reduction of $27,252,- 

 400 during the eleven years of peace that fol- 

 lowed the American War, in ten years it 

 doubled in amount, and with 1145,885,000 capi- 

 talized value of terminable annuities, left it in 

 1784 at $1,328,554,500. During the next ten 

 years a second reduction of $16,546,100 was 

 made, when the French War that followed, in 

 twenty-one years, added $3,022,096,500, and 

 made the total debt and terminable annuities 

 amount, in 1815, to $4,389,583,000. Thirty- 

 nine years of peace now diminished it $496,- 

 383,000. The Crimean War of two years raised 

 it with annuities, in 1856, to $4,058,761,000. 

 A reduction has since ensued, so that in 1877 

 the amount of the debt was $3,879,368,565. 



The amount of this debt added by three wars 

 was as follows : 



Seven Years' War, 1756-'63 $291,990,000 



American War, 1775-'33 486,650,000 



French and American War 2,919,900,000 



DEBT OF BUSSIA. The debt of Russia has 

 been made up largely of deficits arising during 

 the issue and depreciation of paper money. 

 The depreciated currency under one form has 

 been removed by the forced issue of similar 

 currency under another form. Nevertheless, 

 the Government has never failed in its obliga- 

 tions to foreign creditors. The progress of the 

 debt has been as follows : 



1853 $6(18,312,500 



1854 642,878,000 



1855 579,113,500 



1856 802,972,500 



1857 1,004,932,250 



1858 1,167,960,000 



1859 1,124,161,500 



1870 1,070,630,000 



1880 3,318,953,000 



DEBTS or OTHER COUNTRIES. The lack of 

 space will not permit a further relation of the 

 details of the debts of the other countries of 

 the civilized world. The gross amounts are, 

 however, presented in the following tables, 

 with percentage of increase or decrease, from 

 1848 to 1880 : 



* Debt in 1868 by Baxter given as $1,776,272,500; no authorities for 1870; amount stated approximately, 

 t The debt November 30, 1881, waa $2,009,704,370.18; but, as no data could be obtained from other countries for that 

 date, it would not be a fair comparison. From 1860-'80. 



Debt of 1878, Kolb ; no authority for 1880. 



If Debt in 1868 by Baxter given as $53,898,000 ; no authority for 1870; amount stated approximately. 

 f The debt given for the German Empire in 1880 does not include any of the debts of states comj 



empire proper. The amounts given for this country in 1870, and previous, represent the debt of the old German federation, 

 which debt having been pro-rated among the different states since 1870, and in greater part paid off by the new empire, has 

 thereby been reduced to the amount given in 1880. 



NOTE. 1848 taken from Baxter's figures; 1860 taken from Levf s figures; 1870 taken from Mulhall's figures: 1880 taken 

 from Mulhall's figures and report of Secretary of the Treasury. Amounts marked a are from Treasury report as being 

 correct; balance are Mulhall's, Treasury report not being definite enough. 



The following table presents an imperfect statement of the debts of certain other coun- 

 tries, from which the information is incomplete : 



* Baxter. 



tLevi. 



Mulhall. 



Treasury reports. 



