The herald and mail. [volume] (Columbia, Tenn.) 1873-188?, 1875-10-29

the other cities in the country, upon the
estimated increase of 20 per cent. since
| 1870, and the net municipal Indebtedness
Of the country, after deducting resources,
is still S706, ,672, ,407.
In an article which we printed few
! weeks ago, we drew a comparison between
| the municipal indebtedness of this coun-
try and that of Great Britain. This
comparison may now be extended still
further. The average munich pal indebt-
edness of twenty English cities smaller
than London is about $50 per capita.
| But the minor American cities, with
| about the same populations as these twenty
| English cities, owe about S92 per capita.
| The contrast is presented in still another
| form. The report of the local govern
ment board in Great Britain shows that,
deducting the British national debt,
there is a total local indebtedness Of
$3.50, 100000, or about 81 per capita.
Take the same local Indebtedness in this
country, including everything except the
national debt, and we have:
State $5S2 297O,617
County debts. ............... 10000, 900
Municipal debts 7G9000,000
Total ,331 ,97O,517
This is a local indebtedness Of about
$50 per capita for all the people in this
country, or about three times as great as
the local Indebtedness per capita in Great
Britain. The strain in this country is
still more notable when we count the in
terest paid. The interest on the local in
debtedness probably averages 7 percent,
which would make it $93, 900, 900 annu-
ally, while the interest on the British
local Indebtedness does not exceed S15,-
600, 900 a year; so that, while the interest
on cur national Indebtedness is more
than $40, 0,000,0 600 less than Great Britain
pays on its national debt, the total in
terest we pay every year on all debts is
from S40,0O0,000 to 800, 700, 900 more
than Great Britain pays on its total in
debtedness.
The statement of local Indebtedness does
not fully set forth the full measure of
reckleSsncss and extravaganza that char
acteriZe our municipal governments; for,
Notwithstanding the startling increase of
local Indebtedness, taxation has likewise
increased at a frightful rate. A state
ment of fifteen cities, (New York, Phila-
delphia, Boston, Brooklyn, St. Louis,
Chicago, Cincinnati, Jersey City, Louis
vile, Newark, Cleveland, San Francisco,
Providence, Albany Milwaukee, shows
that the taxable valuation of property
has increased nearly 81 600, 900, ,000in the
last five years, and the tax levy in those
cities, which was S64,000,0 600 in 1S69-7G,
was S97-5G0,O0O in 1878. 1t only re-
mains to be stated, that in not one of
those cities was the debt reduced within
the time mentioned, so that the increase
of taxation was devoted, aside from the
payment of interest on the bonded debt,
to the payment Of current expenses and
local improvements. In 1870, the whole
sum raised by state, county and munich
pal taxes was about $3.50, 600, 900, and the
most careful estimate now places the rev.
enue eXacted from the same sources at
1868, 600, 900 annually. This is over ard
above the increase of debt. Deducting
the state taxes, the country and munich
pal governments raise 1926, 100000 a
year, and have added S430, 900, 900 to
their Indebtedness within five years Ac-
cOrding to this, our local government
really costs, in taxes and increased debt,
$3SO, 100000 annually, or more than the
entire annual revenue of Great Britain
for all purposes, which is 1916, 100000.
We commend this exhibit to the earn
est consideration of our readers, as pre-
senting the most serious problem of pop
ular government.