This was the 58-gun frigate HMS President, berthed at the West India Docks and training ship of the local Royal Naval Reserve. They were joined in 1872 by the Royal Naval Artillery Volunteers. This ship was named Old President on 25 March 1903, and was sold for scrapping on 7 July 1903.
Average Household Debt Tops $90,000. A recent study shows that the average U.S. household debt has now passed the $90,000 mark, which includes household that are debt free. The 2015 American Household Credit Card Debt Study also showed that the average household with debt owes $130,000. Mortgage debt, with each household having an average mortgage of $168,614.
This comes as average credit card debt per U.S. consumer nudged up over the last year by more than $270. On average, each consumer had $4,971 of credit card debt in the second quarter of this year, according to the credit-reporting bureau TransUnion. There is some debate over the best way to pay down debt. The government's financial literacy websites counsel consumers first to pay off debt with the highest interest rate. And going by the numbers, that is the logical approach. But it turns out people need more than logic, especially when it comes to achieving a long-term goal like debt elimination.