208 
National Wealth and Public Debt. 
[April, 
From these calculations we perceive that the United King- 
dom pays more revenue per head of population than anyone of 
the other great powers except France. This alone does not 
prove that her wealth is greatest, but, taken in conjunction 
with other considerations which will presently be set forth, 
it will be seen that in this respeCt also she is the first 
amongst nations. The low average of taxation in the entire 
British Empire is accounted for by the extremely large num- 
bers of her oriental population, which is characteristically 
poor, especially when compared with the purely British 
population. The ease with which the national revenues are 
respectively collected, and the burden borne by the popula- 
tion, show how far each country is living within its powers 
of taxation ; but it will be seen that, whereas the revenues 
of the British Empire imposed and collected are based upon 
the necessary expenditure of the State, and prove sufficient 
— and more so generally — to meet outlay, other States, not- 
withstanding their relatively lower rates of taxation, fall far 
short of their requirements. 
A close analysis of statistical faCts shows that the Anglo- 
Saxon race are possessed of an elasticity of resources by 
reason of which they are enabled not only to meet their 
current expenditure, but they also are equal to any sudden 
emergency, and are able to bear, when necessary, a consi- 
derable increase of taxation, and to meet the requirements 
of the State caused by any contingency, out of their own 
resources ; besides which they are the bankers of the 
whole world, and supply funds for the necessities of foreign 
States also. 
With the exception of Russia, Spain, and Italy, the prin- 
cipal European States do manage to maintain an equilibrium 
in their finances. Austria, however, is sailing very close to 
the wind, whilst Turkey is hopelessly bankrupt. The power 
of keeping well within their means appears to belong almost 
exclusively to the Teutonic races of Northern Europe, if 
we except France, which, next to England and America, is 
perhaps really the wealthiest power in existence. 
The peculiar situation of England, with reference to the 
rest of the world, added to her insular position and the 
possession of many accessible and safe ports, renders her 
especially well adapted to be the principal merchant and 
trader for the rest of the world ; and by virtue of these and 
other necessary qualifications she has indeed become the 
chief carrier of the commerce of nations. The statistics 
from which we are quoting do not, it is true, show how 
much of the import and export trade of foreign countries is 
