New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1875-09-18

and eight months was per cent. Thus the assre-
rate indebtedness Of 80 cities June, 1879 of other
Municipalities In Massachusetts Jan. l, 1879, OF
other Municipalities in Ohio Sept. l. 1874, and OF
other Municipalities in New-York, Feb. 2S. 1878.
was SGl4 1913 1856 an increase since 1870 OF l39
DER cont Municipalities remain which owed III
1870 at least SOL 1854. If there has been no ii-
crease in their debts nor in the debts OF munoi-
pAlities Of New-York Ohio, or Massachusetts, since
the dates named the aggregate is now S7Oo.29|,-
ST. But if the increase in other municipalities has
been only 20 per cent instead of $50 per cent? the
present aggregate is at least $3.50 l6,45O
This. however, is gross indebtedness. In few
cities sinking funds of some magnitude are held. In
Table y the amount of such funds as are known to
exist is given with the net indebtedness OF tho SOW
eral cities Deductng the 500, 4i3,953 i'll these funds
we have net Indebtedness in the 20 cities of $i63-
1851 and in 26 cities and all municipalities on
New-York Massachusetts, and Ohio of %55l 6si.533.
There still remain the municipalities which owed Ill
1s7Oat least SOL 341. If their debts have not IN
creased AT ALL the net municipal debt is now at least
S842.S4S.S74. That they have increased VIII
hardly bo doubted. To compare present net ndeDt-
edness with census returns which should have gwen
total debts is hardly proper. Blu, If we add to the
total municipal debts OF 1870 the county debts OF
Philadelphia and San Francisco making an aggre-
gate of $3.50 637 642 for 20 cities and the munici-
paties Of three States and compare thus with the
present net indebtedness If the same municipalities
we find an increase of 90 per cent An increase
one-half as great in the remaining municipalities
which owed $91. 164,3l1 five years age. would
make the present net municipal indebtedness about
$685. 900. 600. But the increase has probably been
not less than 20 per cent and the net indebtedness
would a. that rate he $706, 672.491.
STIRLING CONTRAST.
Americans cannot be pleased, but may be in
srucci if they contrast this enormous load Of state
and local debt with the local indebtedness of Great
Britair A recent discussion in Parliament brought
out statement of the debts of English cities owing
mo:s than 81 900, 900 each, which is appended for
comparison Table c.. Ii there appears that New
York alone with population of less than one mil
lion has a net Indebtedness. sinking fund deducted,
greater than the aggregate debts Of twentY-one
English cities the population of which is 6,3S5 l73.
London. with population of 3,266,9s7. has debt
about one-fh as large that OF Ncw1 ok, ana not
larger than the debts of Baltimore Boston, cities
Of less than onctenh Of its population fonr cities
in this country. with a population about equal I"
that Of London. have debt about twelve times us
great. Twenty English cities smaller than London
with q population Of 3,11s1S6. have debt
Of 500, 745, $780, or about $50 per cala'
Bnt the minor American cities in Table
A, with a population of 3,022,261, have
a net indebtedness Of $3G5,77S,J31, or over
500 per capita. The English cities, q III number
with over onefth OF the entire population OF Great
Britain. owe more than one-hrd of the entire mn-
nicipal or local indebtedness of that country Inc
report of the Local Government Board shows
that the total amount of loans outstanding fox gov
ernmenta purposes except the British National
debt, was f72, 100000 at the close of tho year
1928. or about $500 100000. This is an indebt-
edness of about 81 per capita. But the aggregate
local Indebtedness i'll this country, created since
1870. largely exceeds La amount as tho following