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210 III. CONSTITUTION AND ADMINISTRATION OF SWEDEN.
Table 35. The Swedish National debt in bonds in 1900.
Year of issue. Kind of coin. Bate of
interest, Primitive amount. Kronor. Time of
amortizement. Eventual increase of
amortizement. Principal due as a debt »’/it 1900.
1880 {Fmfcs,1 German^Maric} 3’6 119-790.000 V« 1882- <U 1930 1900 97,029,900,
1886 German Mark, Kronor 3*5 72,000,000 >/• 1887— ’/• 1961 1906 57,886,6671
1887 Kronor 8*6 50,000,000 — — 48,799,500
1888 {FitÄanrXk} 3 W667 - ~ 86,111,111
1890 Ditto 3-6 35,555,556 »/» 1891— V» 1940 1900 32,371,555
1894 Ditto 3 36,000,000 Until 1950 — 18,000,000
1899 Ditto 3 5 72,000,000 "/»1903-16/» 1953 1906 36,000,000
1900 Ditto ’4 36,320,000_—_1920 22.700,000
Total 448,332,223 - - 337,898,733
In proportion to the population, the present total of national debt
— about 338 million kronor (19 million £) — is very low compared
to that of most other countries. If in addition to this it is remembered
that the Swedish government has at its disposal considerable funds, its
financial situation may with good reason be termed exceedingly sound.
In 1900 the Assets of the State were calculated at 648-7 million kronor
(in which sum, however, are included certain donation fonds only
administered by the Exchequer Department); there is, besides, the real
property of the State (estates and forests), valued at 254 million kronor.
The country being in such financial circumstances, it is not surprising
that it has remarkably good credit in foreign money markets.
The Army.
The Swedish army, though small in comparison with the huge
armies of the Continent, has had a history far richer in glorious
memories than the majority of other nations. There was an epoch when
this army not only ranked highest in the military art of its age, but
when, in all branches of the science of war, such as organization,
armament, as well as regarding discipline, military efficiency in general, as
also strategics and the method of waging war, it was a pattern to other
armies: in fact, a pioneer in all branches of military science.
It was at that period when Gustavus II Adolphus — not only the greatest
military genius of Sweden, but one of the very ablest generals ever known —
marched victoriously through Europe. Undisciplined mercenaries, who served where
they could get the highest pay, were then the only defense that the majority of
states could rely upon. The contrary, however, was the case in Sweden — more
than half a century in advance of other nations a really national standing army
was initiated in time of peace. And discipline did not rest in this army,
1 From August 16, 1910 inclusive, the rate of interest will be 3 6 %.
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