The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-10-02
now TO GOVERN orr CITIES
The AwIuI burden Of Debt They
Have piled Up.

lFrOm tile chicago lflbuhr'l
Mr.. William NJ. Grosycnor, Of St
Louis, has been making n recent invcSti.
cation into the municipal Indebtedness
Of this country. His search demon.
stratcs that Mr.. Blaine has rather under.
stated than OycrslntCl the local debts OI
the country in the exhibit which he made
about Il year ago, and which attracted 81
much attention ut the time. Mr. Blaine
estimated the aggregate municipal in.
debtcdness, near the close Ol last year, At
Sj7O,0OO,OOO. This showed an enormous
increase within four years, since the cen
sus Of 1870 stated the municipal debts
Exclusive OF State and county, to bC
S32S,2il $40. But later Investigations
covering period Of five years, show that
Mr.. Blainc's estimate was low one. A
recent number Of the Financial ChrOHirl,
gave II list Of city securities, which
showed that the bonds Of only thirty.two
cities in the country exclusive OF their
floating indcbtCdnc's) amount to Sj2j,.
G32,T2S, or nearly ns much n' Mr..
Blaine's estimate Of the gross muniCi.
pal indebtedness. But the last annual
reports OF Massachusetts, show that the
cities in That State alone, besides those
included In the thirty.two cities cited
above, owe $3G,ali,G3l. In Ohio the
reports show that the cities Of that
State, outside Of the cities included
in the Financial Chronicles statement, owe
Ss,00O,7ll, Thus the bonded debt Of the
llirly.twU cities, and the cities Of only
two States among all those not included
in that lisl, amounts to 81 ,lj7, 07G, or n
larger sum than Mr.. blaine estimated
for the whole country. 4 comparison ui
the census statement shows that these
cities owed lcss than twu.ulirds Of the
municipal Indebtedness Of that time.
Assuming that the ratio remains the
same, the present showing would make
the aggregate municipal Indebtedness
SS5B, 1891. This is n higher rate than
even Mr.. Grosvcnor Is willing to accept.
lie therefore makes n proper allowance
for a smaller ratio OF increase in the cit
les where statements are not made. The
increase in the thirty.two cities between
1870 and $50 was 100 per cent. The in.
crease Of tine Massachusetts cities not in.
Cluded in the list Of thirty-twO is 1870 per
cent. The increase of the Ohio cities has
been 200 per cent. The average increase
in the two States has not been more than
100 per cent. Its entirely within bounds
to assumc that the increase Of other cities
Of the country has been 10 per cent, or
less than half 81 the average increase in
the States Of Massachusetts and Ohio.
Upon this basis the aggregate municipal
Indebtedness Of the country nj this time
amounts to S15S,0OO,OOO, or nearly $780,
100000 more than Mr., Blaine estimated.
New York furnished proof that the
estimated increase Of - per cent il en-.
tircly reasonable. From q statement fur.
nishctl recently By Governor Tildcn, it
appears that the municipal debts Of the
State outside Of New York city, Brook.
Ign and Albany have increased llO per
cent in less than two years. II should he
stated, however, that the thirty.two cities
which have q total bonded Indebtedness