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Engineers and Engineering Volume 39

Engineers and Engineering Volume 39


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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 Excerpt: ...an orphan. NATIONAL, DEBT OF EUROPEAN COUNTRIES I am often asked, Is it safe for us to do business with the countries across the water? In "Commerce and Finance," my bible of statistics, I find that the present national debt of the British Empire is 20 per cent of its estimated national wealth; the present national debt of France 51 per cent of its present estimated wealth; Italy has a national debt of 50 per cent; and Germany a debt of over 300 per cent--three times its estimated national wealth. Austria and Hungary combined have a debt of 2,710 per cent of their estimated wealth. With the exception of England, these countries are not paying their operating expenses. Turning to my various reference books, I find figures which I can assure you are right up to the minute indicating that the present external and internal debt of the French Republic is a third of a trillion francs; that the French deficit for 1921-22 will be somewhat between 7 and 10 billion francs; that the German deficit in 1921-22 is upward of 160 billion marks; and that the Polish deficit in 1922-23 will be 216 billion marks. The figures for Czecho-Slovakia indicated a deficit for the last year of over one billion crowns; Jugo-Slavia, over two billion; Austria, 300 billion crowns; the Spanish deficit, a billion pesetas; and the Italian deficit 5 billion lira. These figures are not very reassuring, I admit. There are certain conditions over there that we should all know about, discuss freely, and consider. As I analyze the advance in sterling, I can see England getting ready to re-gain her industrial, commercial and financial supremacy in the world. The pound sterling, as you know, has gone up to $4.46 from a low of around $3.18--in spite of tremendous falling-off in railroad earn...


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Product Details
  • ISBN-13: 9781232188469
  • Publisher: Rarebooksclub.com
  • Publisher Imprint: Rarebooksclub.com
  • Height: 246 mm
  • No of Pages: 336
  • Spine Width: 18 mm
  • Width: 189 mm
  • ISBN-10: 1232188468
  • Publisher Date: 01 May 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 599 gr


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