Rensselaer Republican, Volume 16, Number 15, Rensselaer, Jasper County, 20 December 1883 — Government Credit in Europe. [ARTICLE]

Government Credit in Europe.

National credit has had its dangers in the past, in the extreme East and the extreme West, from Oriental gov- ! ernments and from North American ' States or South American republics; but the day is close at hand when a great crash ofj government credit is coming in Central Europe. The debts cf “Europe, ” and this practically means the larger half of Eurojve west of Russia, have risen, in fifteen years, from $13,200,000,000t0 $21,600,000,000; the cost of government has risen onehalf, and the cost of national armaments in still greater ratio, until they cost $900,000,000 a year, keep idle 3,200,000 men and employ 1,800 ve-sela. Meanwhile there is scarcely a landowner, whether bending over the spade and walking between the plow-handles or taking rent from te iants, who does not find his lalx>r worth letfs than it was by reason of the cheap food which floods Europe from beycnd the sea and Tikes “pay* in the precious tribute of men. The end is certain in the sudden sloughing off of the gigantic mortgage now lying on Europe, and which is robbing it of almost every advantage which capital needs for high profit in an old country. — Philadelphia /res*. \ • Thebe is no use for money equal to that of beneficence; here the enjoyment grows on re ect on, and our money impost trulycurs when it cease* to be in our possession— Mackenzie. 1