Democratic Sentinel, Volume 4, Number 13, Rensselaer, Jasper County, 7 May 1880 — European Expenditure. [ARTICLE]

European Expenditure.

The total increase of expenditure caused by war, or the apprehension of war, has, if we take the average interest at i per cent., been £131,000,000 n year, or considerably more than the whole taxation of either of the richest countries in Europe—France and Great Britain. The amount at 4 per cent, represents a capital of £3,200,000,000, which, so long as the expenditure continues, and much of it is perpetual, is loss to the industrial work of Europe, and consequently’ to the progress of civilization, and to the material well-being of the people. The Economist.