National Debt

Money borrowed by the Government, on the security of the taxes, which are pledged to the lenders for the payment of interest.

The National Debt
in William III.'s reign was 15,730,439.

At the commencement of the American war,128,583,635. At the close thereof, 249,851,628.

At the close of the French war, 840,850,491.

Cancelled between 1817 and 1854, 85,538,790. Created by Crimean war, 68,623,199.

In 1866, 802,842,949.

In 1872 it was 792,740,000.

In 1875 it was 714,797,715.

In 1879 it was 702,430,594.

In 1892 it was 677,679,571.

In 1893 it was 671,042,842.

Source: Dictionary of Phrase and Fable, E. Cobham Brewer, 1894
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