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U S VS HUN FINANCES Pessimistic Americans who view with alarm our increasing national obligations may derive a great deal of comfort from a comparison of the financial condition of the United States contrasted with that of Germany The total resources of the United States are esti ¬ mated at about 200000000000 our annual earn ¬ ings are estimated at about 50000000000 Our national debt including the third liberty loan may be put around 12000000000 12000000000Before Before the war our government was spending about 1000000000 a year When the war is ended interest charges less the interest collected from our loans to our allies government insurance ex ¬ penses and other necessary expenditures growing out of the war may conservatively be estimated at something like 1000000000 We are confronted therefore when peace conies with raising only a couple of billions a year revenue a slight task for a nation of such tremendous wealth capacity and resources resourcesThe The resources of Germany before the war were estimated to bo 80000000000 The annual ex ¬ penditures then of the Imperial Government were about 500000000 Her debt now is 30000000 000 and her resources and man power have been severely impaired After the war she is confronted with additional expenditures growing out of the war totaling some 4000000000 4000000000The The interest on her war debt even if the debt grows no larger will be about 1500000000 Al ¬ though she is niggardly in her pensions to private soldiers and their families 1000000000 a year would hardly suffice to pay even small pensions to her injured and the families of her soldiers who have been killed Her war debt must be paid some time and a sinking fund of 5 per cent would add 1500000000 to her annual taxation Here is a total incrcrse of 4000000000 all due to the war warOf Of course both the United States and Germany may greatly increase their debts but the increases will not change the relative situations situationsThe The German Government hns drained the German people of their gold even their jewels and heir ¬ looms and yet the Imperial Rank of Germany now has but little over 500000000 of gold in its vaults The United States has made no special effort to obtain gold has made no call upon the people for the precious metal and yet today has in its Treasury vaults practically 2r00000000 of gold coin and bullion Publicity Bulletin of U S Treasury
