Knoxville Whig and chronicle. [volume] (Knoxville, Tenn.) 1875-1882, 1875-07-21
THE WEALTH OF THE COUN-
TRY


Post an article on the wealth of tht
United States. Itcontains some figure
ofgeneral interest. The amount ofna
tional debt in 1870 was S2,40G,OOO.
| 600. The amount of public debt no
national was $s64.OOO,OO0. This to
talizes the public debt of the coun
try at S3,271,OOO,OOO, against asset.
in estimated wealth excluding prop
erty of the Federal Government OF
. S30,068, 100000. 1t is as if a man
owning $4,000 owed about $4,000
True economy would dictate to him
to allow for his debt and live only as
though possessed of $4,000, less So.
600. BY ignoring his debt in the
budget, and paying it, or rather sus.
tanning it by promises to pay, he real
ly lives beyond his means and on a
false theory.
The average wealth in most Of the
States South Of Virginia and Tennes.
see is less than three dollars per head.
In tennessee and Virginia the average
is between three and seven hundred
In the Eastern States the average
runs the highest. The greatest aver
age accumulation of individual wealth
is in New York State. Each New
Yorker, on an average, possesses ST.
4Sl worth Of real and personal estate,
Massachusetts rates next, with an
average wealth of $1,463 to each in.
habitant. Connecticut has an average
of S1,431. These three States, there.
fore, appear to be upon almost pre-
cisely the same plane of average
individual wealth; and they are also
in the same portion of the land, on
the same parallels of latitude and
juxtaposition.
The State with the next largest av-
erage is Rhode Island, Sl,366 to each
person. Still, the precedence is con-
fined to The Eastern States. But no
longer, for California assumes the
next position in order affording an
accumulation Of Sl.O95 to each Cali.
fornian. California may properly be
considered as a State that has had
wealth thrust upon it.
The wealthier States spend more
money in public improvements, in be.
nevolent institutions and in the
effort to promote the comfort
and convenience of the people.
Having more money than the South
they pay more taxes. In this connec-
ton the following figures concerning
the relative taxation in the various
States is Of particular interest:
The States which have the highest per
capita tax are among the most prosperous
in the land. Massachusetts is first, with
total taxation in 1870 Of nearly twenty-five
millions, OF seventeen dollars and ten cents
to each individual. Nevada is second, with
a per capita tax OF thirteen dollars and
ninety-seyeu cents. California, thirteen
dollars and ninety-Aye cents apiece; Con-
necticut, eleven dollars and twenty-eight
cents and New York, eleven dollars and
six cents. But one other State exceeds ten
dollars in this respect, New Hampshire,
whose taxation is ten dollars and twenty.
two cents for each individual. The States
lowest in individual taxation are Alabama,
two dollars n.Eety-uiHe cents; Tennessee,
two dollars sixty. light cents; Florida. two
dollars siNly-iour cents; Georgia, two dol
lars tweuty-oue cents North Carolina, two
dollars nineteen cents, and Texas, one dol
lar and thirty-seyeu cents, which last men.
toned amount b, the lowest average tax Of
any State in the land. The six States first
mentioned in connection with the average
amounts OF taxation have only about one
third more Inhabitants than those lust emu
merated, yet the former pay taxes mot ma
tioual) to an amount OF more than rine,y-
one millions, aud the latter only abou, lhir-
teen millions. The meogrencss Of their
levies for expenditure upon themselves is
an index o: the out.at the elbows ragged
condition Of 20, States Just named
FRANCE is so situated, geograph
ically, as to be subject to disastrous
floods. Our readers have not failed
to read the distressing details we
have published Of the last flood. The
loss Of life and destruction Of prop
erty has been very great. Toulouse
has been specially unfortunate. In
1915 and in 1888, and in 1855, and
now in 1873 great foundations have
damaged the city. Exactly t1reaty
gears between each flood A cor.
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