« PreviousContinue »
COST OF THE SECESSION WAR, 1861-65, TO THE
The financial record of one of the greatest wars of modern times is of decp interest. The compilation was made under instruction of Congress, and took three months' labour; and its aggregate result shows that the War itself and the subsequent expenses paid by the Treasury that were directly caused by the War cost the enormous sum of nearly 6190 millions of dollars-1240 millions sterling. From July 1, 1861, to July 1, 1879, a period of eighteen years, the expenditures for all purposes were 6844 millions, of which 654 millions were for ordinary Government purposes, and the remainder were War expenses. The items of this War expenditure show how money can be used up for such purposes. The Treasury has paid 1764 millions for interest on the public debt during the eighteen years, besides 51 millions expenses of issue of national loans and currency, and 59 millions premiums in issuing loans. This does not include the interest on the debt existing before the War, which took over forty-five millions. For the management of the war itself 12 millions were spent in conducting the War Office, and nearly 24 millions for the other Executive departments. The Army cost 381 millions for subsistence, 381 millions for the Quartermaster's Department, 339 millions for transportation, 345 millions for clothing, 126 millions for horses, 31 millions for barracks, 1145 millions for pay, 140 millions for bounties to enlisted soldiers, 42 millions reimbursed the State Governments for their expenses in enlisting troops, 11 millions recruiting and conscription expenses, 57 millions for medical and hospital expenses (including a half-million for artificial limbs), 70 millions for ordnance and the armament of fortifications, 100 millions for the armament of troops, 8 millions for the Homes for Disabled Volunteers, 13 millions for forts, 29 millions for collecting, drilling, and organising troops, 2 millions for bridge, tool, and siege trains, 8 millions paid for supplies furnished by loyal citizens and for horses and other property lost in the service, and large sums besides for miscellaneous items.
2. Indemnity paid to Germany, capital and interest
3. Sums paid by the City of Paris as war contribution,
4. Indemnities of all descriptions to departments, com-
5. Indemnities to railway companies (not including the
9. Different expenses of the loans
10. Losses on the budget receipts of 1870 and 1871
Re-establishment of the public roads interrupted by the
Reconstruction of the registers of births, deaths, and
16. Reconstruction of the stock of tobacco
18. Deficiency in the accounts of the ceded territories
1870-2. £ 76,481,800
212 614,363 289,096,126
280,000 3,080,000 13,600,000
Expenses of trials and transportation of the insurgents of
Requisitions of the Commune on the Bank of France
While the Army caused the bulk of the War expenses, the Navy also came in for a considerable share. The Navy cost 74 millions for pay, 16 millions for provisions, 1 millions for clothing, 160 millions for construction, repair, and equipment of vessels, 31 millions for ordnance, 2 millions for surgeons' necessaries, 304 millions for yards and docks, 11 millions for 13. fuel, nearly 1 million for hemp, 49 millions for machinery, 2 millions for navigation, 7 millions for the marine corps, 23 millions for the Naval Academy and Asylum, 10 millions for chartering, &c., of vessels for the tem- 14. porary increase of the Navy, 3 millions for bounties, and also other items. The above gives the three chief divisions of the War expenditures-for the Debt, the Army, and the Navy. But to this must be added the millions spent to pay the cost of raising the extra money required to meet these expenditures, and which was gathered largely from taxation. The entire Inland Revenue system was made necessary by the War, and the expense of that department was about 115 millions; while it cost nearly 100 millions to collect the Custom revenue, of which 42 millions are directly charged to the War Any nation that contemplates going to war will do well to ponder these figures. The American War is fifteen years gone by, and the nation is still paying huge sums for it. Out of 267 millions of expenditure during the 19. last fiscal year (1879-80) that entered into the above computation, it is estimated that more than half, or 140 millions, were expenses for debt, 20. interest, and pensions, the direct legacies of the War. The prodigious exertions to raise money for the support of the War are shown by an 21. examination of the tables of revenue in those years. In the year before 22. the War, 1860, the revenue of the country was about 66 millions of dollars, and its expenditure 63 millions. In the first fiscal year of the War, its paralysation of business reduced the revenue to 41 millions, all of which but two millions the country got from the Customs. When the War opened it was looked upon as a small affair to be speedily ended, and in the fiscal year ending July 1, 1861, there were 66 millions spent for all purposes. This included the opening three months of the War before the Bull Run defeat showed what earnest work was necessary, and the money not raised from revenue was procured by about 28 millions increase in the public debt. The war having greatly advanced prices, and the growing premium on gold depreciated the paper currency, when the third year, 1863-4, opened and witnessed the most desperate struggles and prodigious exertions of the rebellion, with Grant's hard-fought progress through the wilderness. New and increased taxes in this year were levied, and swelled the revenue to nearly 265 millions, of which the Customs produced 102 millions and the Inland Revenue nearly 110 millions. But there were spent 8653 millions, of which the rapidly-growing debt took nearly 54 millions for interest. Again the debt supplied the deficiency, about 598 millions being raised in this year from new loans, while at its close the total debt was 1709 millions. The fourth year of the war, 1861-5, witnessed the final defeat of the rebellion and collapse of the Confederacy, its back being broken by Sherman's march to the sea. It also witnessed the heaviest expenditure in any year by the United States1297 millions, of which 77 millions were for debt interest, 1031 millions for the army, and 133 millions for the navy. The country spent more money; but, in view of the end of the war, it breathed more freely than since 1861. The inland revenue at this time, as for several years afterwards, was the chief tax-gatherer, producing 209 millions, while the customs yielded 85 millions, and the total revenues were nearly 334 millions. The deficiency of 965 millions was met by new loans, and the total debt reached nearly 2675 millions.
COST OF THE AFGHAN AND SOUTH AFRICAN WARS. A Parliamentary return, issued at the close of the Session 1881, shows the number of officers and men killed and wounded in the Afghan war and in the South African wars from 1875 to 1880 inclusive, and of the cost of those wars. In the Afghan war the total number killed and died of wounds was 99 officers and 1524 men, wounded, 111 officers and 1252 men. Of these the losses among the British troops were :-Killed, 67 officers and 461 men; wounded 76 officers and 403 men. In the South African wars, 1875-80, the casualties were:-Killed, 12 officers and 167 men; wounded, 15 officers and 243 men. In the Zulu war, 58 officers and 1328 men were killed, and 29 officers and 272 men wounded. In the war with Secocoeni 2 officers and 9 men were killed and 7 officers and 349 men wounded. The total for the whole of the wars was:-Killed, officers, 172; men. 3028. Wounded, officers, 162; men, 2016. The cost of the above wars, so far as the British and Indian Exchequers are concerned, was £24,494,483 (including £4,324,047 for frontier railways and £1,019,470 for Punjaub Northern Railway); and the et charge the country, after deducting receipts, £18,412,223.
24. Expense of marking out the new frontier
THE RUSSIAN WAR EXPENDITURE.
In the official report of the Comptroller of the Empire upon the Russian Budget for 1879, the following statement is given of the extraordinary military expenditure during the years 1876-9 in connection with the war with Turkey and the operations in Turkestan. The amount here set down, it is to be remembered, is in addition to the ordinary outlay upon the Army, which for the four years under review amounted to £75,429,000:-Extraordinary war expenditure in 1876, £5,100,000; 1877, £42,933,000; 1878, £40,814,000; 1879, £13,211,000: total, £102,058,000. To provide for this outlay the following amounts were made available:-Borrowed from the Bank of Russia, £9,176,000; foreign loan of 1877, £10,641,000; first Eastern loan (internal), £17,461,000; second, £27,609,000; third, £25,552,000; budget, excess over ordinary expenditure, £2,955,000: total, £93,394,000. According to this statement, therefore, there remained at the close of 1579 an increased deficit of £8,664,000. It is impossible, however, to believe that the above is a full account of the extraordinary expenditure. It makes no mention, for instance, of the £47,000,000 of unconvertible paper money issued by the Government through the Bank of Russia for the purpose of defraying war expenses, and little reliance can be placed upon a statement which leaves out of account an item of such magnitude.
TRADE, COMMERCE, AND INDUSTRIES OF
A noteworthy improvement has been observed in the financial condition of mankind. The earnings of nations, it is found, have risen in twice the ratio of population. At the same time, the public debt has increased 43 per cent; but this is counterbalanced by the outlay in making new railways, which has exceeded since 1870 £184,000,000 over the total of new debts. In like manner, although taxation has grown 22 per cent, which is more than the geometrical progression of earnings, the net balance per head of population is higher. The account stands, in millions sterling, as follows:
Net Earnings. £4.858,000.000 5,802,000,000
Average per Head.
£12 15 6
13 15 2
In 1870 ... 375,129,000 In 1880... 411,728,000 This shows, as far as money can, how much the condition of mankind has improved in the last ten years. Perhaps the secret of prosperity has been the development of the carrying trade, by land and sea, which has risen 53 per cent, and cheapened all the products of industry by placing the producer and consumer in closer relation than before.
There are six industries of nations which reach in the aggregate a total of 10 milliards sterling, thus showing an advance of 22 per cent since 1870. The average produce of human industry per head is over £25; being a rise of 12 per cent since 1870. The advance in Great Britain is double the European average, the figures being as follows:
A glance at the production of wool and cotton in all countries, shows that the Australian clip has more than doubled since 1870; and a similar increase has taken place in the cotton crop of the United States. There is altogether a rise of 330 million pounds, or 22 per cent, in wool, and 994 million pounds, or 37 per cent, in cotton since 1870. In the case of iron, steel, and coal, Great Britain is still by far the largest producer; the figures being 42 per cent of iron, 36 per cent of steel, and 45 per cent of all the coal consumed by the world.
The Commerce and Shipping-that is, the trading of the world-has risen to £776,000,000 sterling, the principal increase being as follows:
now costs £101 per annum, against £98 in 1869; but the burden of military and naval expenditure on each inhabitant or taxpayer in Great Britain is somewhat less than it was in 1870, although for the world the average is higher, viz. :— Taxation compared with Income. 1870. 11.92 per cent 13 87 13:39 14.05
Great Britain Europe
11.88 per cent. 15:38 "" 9.21 14 34
And at present the armaments of Europe absorb 3 per cent of the total earnings of nations; and consequently the burden is heavier by 3 per cent than it was ten years ago.
Food Supply-Of the food consumed, Europe has a great deficit. No less a quantity than 350 million bushels of grain and 853,000 tons of meat yearly. On the contrary, the United States have a surplus of 370 million bushels of grain and 1,076,000 tons of meat. On the whole, the world shows an over-consumption of 22 million bushels of grain and a surplus of 2,144,000 tons of meat. The consumption of food in Great Britain and the United States is much over the European average per head. It is as follows:Grain, bushels.
Wealth of Nations.-Money in abundance has little to do with national prosperity. Spain has most money, compared with national industry; England the least. Switzerland has most coin per head. The paper money of the world has risen from 592 millions in 1870 to 799 millions sterling in 1880, being an increase of 34 per cent. The amount of gold and silver coin is 823 millions sterling. With regard to the gold coinage, one fourth disappears or is transformed in ten years; so that the net increase since 1870 has been only 210 millions, or 5 per cent over the yield. In all matters of business cheques take the place of coin-in England to such an extent that, on an average, only 10s. of coin are employed for every £100 of business transacted. If the commerce and money of all nations be compared (India alone excepted), it will be found that the world's trade in 1880 was transacted as follows:-
The total of new national debts since 1870 is £1,575,000,000 sterling, or £184,000,000 less than the cost of new railways in the same period. That is hardly 34 per cent of the increase of wealth. The increase in the wealth of the United States is most remarkable, and the same may be said with regard to Australia.
The average net earnings of mankind have risen nearly twenty shillings since 1870, as the following summary shows:Great Britain
1880. £33 10 4 3 19 9
£29 10 7
1 18 7
£14 13 6 270
£11 15 7
£12 6 6
£27 11 8
£27 18 4
3 13 10
2 12 7
£23 17 10
£25 5 9
Although the net income has increased, the relative burden of taxation British railways have been the most costly; nevertheless, they have rendered is heavier, as will be seen in the following ratio table :more service for capital expeaded than those of other nations. The traffic of the world may be taken, if a passenger and a ton of merchandise be taken as equivalents of each other, as follows:
The traffic returns, however, on the whole, show a decline of 11 per cent. The Telegraph Service shows an increase of 280,000 miles. Increase of Population is dealt with in another place. It may be remarked that Europe in 1870 showed a surplus of 25 million births over deaths, but emigration reduced the actual increase to 224 millions. Whilst the Franco-German War cost Europe 819,000 human lives, the French loss being 70 per cent of the total. With regard to the United States of America, the increase of population a good deal exceeds the aggregate number of inhabitants of three European Kingdoms-Holland, Denmark, and Portugal, but our Australian Colonies very much exceeds the ratio of the United States. The Art of War shows that although there are fewer men under arms in Europe, the annual expenditure for both armies and navies has increased by about 25 per cent. As to the cost of the material, the British soldier
10h. 13m. p.m., or 2h. 10m. after sunset. She is near Jupiter on the 5th,. near the Moon on the 19th, and at her least distance from the Sun on the 30th.
MARS sets on the 2nd at 1h. 28m. a.m., on the 12th at 1h. 3m. a.m., on the 22nd at Oh. 36m. a.m., and on the last day at Oh. 14m. a.m. He is due south on the 1st at 5h. 18m. p.m., on the 15th at 4h. 53m. p.m., and on the last day of the month at 4h. 26m. p.m. He is at his greatest distance from the Sun on the 5th, and near the Moon on the 22nd.
JUPITER sets on the 1st at 9h. 16m. p.m., or 1h. 55m. after sunset; on the
She is nearest the Earth on the morning of the 13th, and most distant on 11th at 8h. 50m. p.m., or 1h. 14m. after sunset; on the 21st at 8h. 23m. p.m., the morning of the 25th.
or 33 minutes after sunset; and on the 29th the planet and Sun set together; and from this day till Dec. 19 the planet sets in daylight. He rises on the last day at sunrise. He is due south on the 1st at 1h. 23m. p.m., on the 15th at Oh. 42m. p.m., and on the last day at 11h. 54m. a.m. He is near Venus on the 5th, near Mercury on the 13th, and near the Moon on 18th, and in conjunction with the Sun on the 30th.
MERCURY rises nearly at the same time as the Sun on the 1st, and from this day till July 3 he rises in daylight. He sets at sunset on the 2nd; on the 6th at 7h. 59m. p.m., or 30 minutes after sunset; on the 11th at 8h. 45m. p.m., or 1h. 9m. after sunset; on the 21st at 9h. 50m. p.m., or 2 hours after sunset; on the 26th at 10h. 5m. p.m., or 2h. 7m. after sunset; and on the last day at 10h. 8m. p.m., or 2h. 5m. after sunset. He is in superior conSATURN sets on the 5th at about the time of sunset, and from this day till junction with the Sun on the 2nd, in his ascending node on the 3rd, near Nov. 16 he sets in daylight. He rises on the 12th at nearly the same time as Saturn on the 4th, at his least distance from the Sun on the 7th, near the Sun; on the 21st at 3h. 43m. a m., or 20 minutes before sunrise; and on Jupiter on the 13th, and near the Moon on the 18th.
VENUS is an evening star, setting on the 1st at 9h. 1m. p.m., or 1h. 40m. after sunset; on the 11th at 9h. 30m. p.m., or 1h. 54m. after sunset; on the 21st at 9h. 56m. p.m., or 2h. 6m. after sunset; and on the last day at
the last day at 3h. 7m. a.m., or 45 minutes before the Sun. He is due south on the 1st at Oh. 16m. p.m., on the 15th at 11h. 28m. a.m, and on the last day at 10h. 33m. a.m. He is near Mercury on the 4th, in conjunction with the Sun on the 6th, and near the Moon on the 16th.