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Show j THE TRUMP CARD ' The Brit h government has plajel ts trump card in an effort to ma n ta n its pos t on as the most power ful f nanc al nat on in, the world by ob hzinjj the two or three bill on dol lars orth of nier can secur t es now held in England With these secur t es in possess on of the Br t sh gov ernment t s thought by Chancellor ot J.he Excheq er McKcnna and other f nanc ers anl statesmen across the a ter that exchange n tl e Un ted States oan le a nta ned to the end of the war when London is expected to re 6ume sway over the world s markets Of tourse t w 11 be poss ble for the h govemn ent to se these sec ri as a sort of club for it would be to swa p the New York mar ivjth them at any t ne But such )t the avo ed purpose and would tn great loss to the Bnt sh in the for pr ces wo Id fall to an alarm :tent the secur t es would be as Sted in due course of t me and the sh left without e ther col ai or credit It is obvious how that something must be done The pillion credit loan 1 as not met all fat ons in sp te of the efforts of nierican syndicate and the fact both Creat Brita n and France are ned ood pay e pr ce of these bonds has been r down, of late and it no v seen s pi that the syndicate will iave thing' like $lo0 000 000 worth of Tieft on ther hands The po nd mg the German mark -the Kus rouble and the French med um ot ange show no s gns of reach ng par the finane al s tuat on so far as 'oreign governments are concerned )Out as bad as it can be witho t ruptey Just what effect the mob t on of Amer can securit es w 11 upon excliange rema ns to be seen we- shall not be- long in find ng While the ar lasts and the bell ger ' ent co ntr es are spend ng so many hun dreds of n ilbons of dollars m the ; Un ted States they w 11 be compelled to stra n the r reso rces to the 1 m t to et the r obligat ons Once the war is over if h story repeats tselt there will be a quick recovery espe eially m Great Br ta n and France It v 11 be recalled that at the close ' of the Franco Pruss an war France amazed the world b the rapid ty w th wh ch she pa d the huge ndemn ty ot five b 11 on francs extorted by B s n arek It w 11 also be remembered that under the spur of necess ty the ens ing five years were the most prosper ous France has ever known . ' The same th ng has happened u Great Br ta n t me after t n e H various wars have always bee fol j lowed by per ods of prosper tv and be j aggregate wealth has ncreased by leaps j and bounds In 181j at the end of the Napoleonic wars Great Br ta n had a population of '0 000 000 a nat onal n como est mated at 300 000 000 a and a debt of 88o 000 000 To I pay the interest on th s debt and the I expenses of the government the s n 9 of 6' 000 000 was ra sed by tax ation This was equal to one f fth of the national ncome but it was pa d and bore so lightly on tl e people that the national ncome of her present rop ulation of 4 000 000 had r sen to 2 400 000 000 by the outl reak of the pros ent war n 1914 In the nterval ol ? ninety nine years she had fought I through the Crimean war the Boer war and many lesser str ggles aud actually reduced her debt by 179 000 000 so that when the world var commenced she actually owed only 06 000 000 as against 88o 000 000 n 1815 It is estimated that bv the 31st of March 1916 the Engl sh debt will be 200 000 000 to pay the interest on wh h and the expenses of the governmeut there will be requ red 240 000 000 pe annum Th s debt will bd at the rate of 47 per cap ta as aga nst 44 per ' cap ta in 181 1 Then however the accumulated wealth of Great Br ta !was only 2 :00 000 00 wh le today t is estimated at 1 000 0 00 The n come of the British eople for this f s al year is estimated at 2 400 000 000 In 1815 it was only JO 000 000 Th s ih to say that the estimated delt o March 31 next w It Ip well m le o one yea n o c nh le n 181b t ft p ca h n on a h h n r of h in o u 1 i; e e e o e n I e ee h r t B a be fa f o nk ten a la ts two o b ee a a less al u he w run lost wea th e t a d t t,he w 11 no g a o c & a na poe an 1 Lon o lac Ne v "io k as d te It fort na e fo the B h owe ha they hold sha aono au se r t es at b t i le 1 o ge o a |