The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1875-10-19
TUESDAY, OCTOBER 10, 1875.
MUNICIPAL INDEBTEDNESS.

tnat tne people were ulstrustlul Ol tueHi-
selves, we instanced the prohibition against
granting municipal aid to private or cor
porate enterprise and the restrictions as to
the amount of municipal Indebtedness.
We need not go out of Vermont to discover
that there is cause for this mistrust, necessi-
ty for these restrictions and prohibitions.
Take the several towns IN Vermont who
are, to-day, loaded down with debt and
burthened with excessive taxation, because
there have been no restrictions against aid
ing corporate enterprise and no limit,
except ability to borrow, 10 the amount of
municipal Indebtedness, and contrast their
situation with what it would have been
with wise constitutional provisions upon
the subject, and the cause of the mistrust
and the necessity of restrictions are pain
fully apparent Yet we apprcbend that,
under the same circumstances, our people
would again heedlessly incur similar obli-
cations, only again to repent at leisure.
The principal trouble in Vermont has been,
and it is SO everywhere, the mass of this
indebtedness has been contracted without
any idea or intention of ever paying 1t and
with the belief that it would never be called
for. at least from the tax payers. The
day of reckoning, however, comes and
then we see our own folly, a folly that
will repeat Itself unless the people.
through the organic law, ab olutely pro-
hbit it.
We think that, in Vermont, we are bur-
theued with debt and oppressed by taxa
ton, but our yoke is easy and our burthen
light when compared with the whole coun-
try. Let us first look at the United States
compared with Great Britain. We regard
monarchies and aristocracies AS expensive,
aud such they seem, but the gross cost OF
the British government. with lis large
standing ARMY, its pensoned aristocracy,
its vast allowances to the royal family. its
church and poor establishment, its colo
MES, municipalities. navy, ETC.. ETC., is no
greater than that of this country. The
whole annual revenue of the British gov
eminent is $37G,330 ,000 aud the whole
amount raised by taxation for local and
municipal purposes Is $40, $50, 900, max
ing the total cost Of governing Great Brit
ain, $517, 1850, 900. On the other hand, the
revenues of the United States are $685.
47S, 756, while the annual cost OF state and
municipal government, according to the
census of 1870, was $3.50 sol, 600, making
the total annual cost of supporting free in
situations, IN time of peace, 500, O60, 900.
Since 1870, the revenues of the general
government have decreased about hun
dred million dollars and the public deb,
has been reduced nearly two hundred and
ten millions of dollars, but in the same
time, the state and municipal Indebtedness
has been increased some four hundred and
sixty millions of dolars-or an average. OF
fifty million dollars u year more than we
have reduced the public debt-and state
and local taxation have more than cores
pondingly increased
BY the census of 1870, the aggregate OF
state, county and municipal Indebtedness
was 1868, 676, 000-the state debt beng
$685., $3.50, G9S county Sl87, 5G5, $40, and
municipal $329, PA $40. 1t is estimated
that since that time the state Indebtedness
has increased at the rate of about six mil
lion dollars a year and that the county in
debtedness remains about as il was in 1870.
When, however, we come to look at the
increase of,municipal Indebtedness, the re-
suit IS startling and alarming. We have
not before us, full statement of the
amount of this class of indebtedness, but
we have sufficient to give US, at least, a
glimmering light as to our present condi-
ton. The present Indebtedness of the five
cities of New York, Brooklyn, Boston,
Philadelphia and Baltimore now amounts
to some three hundred and thirty-two mil
lions of dollars or some tour millions OF
dollars more than the entire municipal in
debtedness of the country five years ago.
New York city alone now owes 1857, 578,
391 against $54, 436, $50 in 1870, and moro
than the aggregate debt of all the British
cities-twenty- in all-whose munici
pal Indebtedness exceeds one million O
dollars each The population of New
York, by the census of 1870, was 942 30,
and her Indebtedness as above stated, Will,
London with population of 1896, 9S7
only owes twenty-six millions of dollars
or, to be exact S25, 91S,0 900.
1t is not true that the increase in New
York has been exceptionally large, TO
Westinghouse reject fractons-has in
creased from two millions to twenty mil
lions Boston from twenty-five to forty
four millions Baltimore from thirteen L
thirty-two millions Cincinnati from fivt
to fifteen millions Jersey City from fiv'
to fourteen millions Louisville from liv'
to ten millions Newark, New Jersey
from three to eight millions Providence
Rhode Island, from less than two to mor
than eight millions Pittsburgh from fou
TO seven millions Cleveland from two {,
seven millions; Portland, Maine, from twt
to six millions Savannah, Georgia, from
two to nearly four millions Milwaukee,
from one hundred eighteen thousand Il
nearly two and a half millions Detr0i
from seven hundred thousand to over tw,
millions Bangor, Maine, from less thai
half a million TO over two millions st
Joseph, Missouri, from half million to
million and half Indianapolis from on
hundred and fifty-fiye thousand to one mil
lion two hundred and seventy.fve thou
sand. These cities, including also Phila
delphia, New Orleans. st. Louis, Chicago
Charleston, South Carolina, Memphis, Sa
Francisco, Albany, Mobile, Augusta, 81
Paul, Lynchburg and Columbus, Georgia
have increased their indebtedness fror
$l08,s95,7 1s, in 1870, to $525 ,G32, 728 i
1875.
The actual increase of Indebtedness. |