Poverty of India Papers And Statistics

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Poverty of India Papers And Statistics
Dadabhai Naoroji
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Edward Young, whom I have already men- tioned, the highest official and authority on the treasury statistics of the United States, calculates and gives (in his official " monthly reports on the Commerce and Navigation of the United States for the year ending June 30th, 1874, page 352) his own personal and unofficial estimate of the " Aggregate foreign debts" of the United States. He says, " Although there were no national securities held abroad at the commencement of our late war, yet some of t...he bonds of the commonwealth of Pennsylvania, and, probably, of Mas- sachusetts and other States, as well as railroad snares and securities, were owned in Europe. In the absence of accurate data on the subject, it is believed that fifty millions is an ample estimate for these ante helium securities. With this addition, our aggregate foreign debt amounts to nearly TWELVE HUNDRED MILLION DOLLARS. " Such is Mr Young's estimate of the aggregate debts, " national, n8 State, Municipal and Corporation held in foreign countries.

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