The sun. [volume] (New York [N.Y.]) 1833-1916, 1875-09-28
non no oornnN orr CITIES.
The Awful burden al ncht they have Piicd
Up-Thc Recent Enormous Increase.

MIR. William IA. GiO-VpnOr of ~. Louis
has ncrn masking recent invo stigatirn into the
municipal irdebt' dncss OF this country. Ills
search demonstrates that fir. Elaine ua. rather
undcrstntrd than over. tatsd the local debts uf
the country IN the exhibit which he made about
~ wear Ego, aud which attracted so much uttcn-
ton at the time. Mr.. naine estimated the az
rrcrHt, municipal Indebtedness. near the close
OF last wear, at S1'OtNNNO. This showed an en-
ormouI Increase within four years, since the
census Of $50 stated the municipal debie lex
elusive Of state aud countO to be So "a 80.
Hut later Investigations covering a period of
I'VE years, show that Mr.. Bane's estimate was
a low one. recent number Of tue Financial
Chronicle gave hat Of city securities. which
showed that the bonds Of only thirty .wo cities
IN the country Tex elusive 81 their Heating in
dcbtcdnes-j amount to ttsj.GS9,T ,S or ne irly as
much ~ Mr.. Blainc's estimate Of the gloss mum
cipal Indebtedness. But the last annual re-
ports " Massachusetts show that the cities In
th4t state .lune, besides those included IN the
thrty-two cities ciied above, owe S3j.gllCN.
In ohio, the reports show that the
cities OF that state, outside Of the cities In.
GUIDED in the Financial Chronicles statement.
owe $s,W9,it1 khus the bonded debt II the
thrty-two cities. and the cities 81 only two
states among all those not Included In that list,
amounts To- Sjil.4b', IT, or larger sum than Mr..
Blaine estimttcd frr the whole country. A
comparison ~ the census statement shows that
these cities owed less than two-tnirds of the
total municipal Indebtedness Of that time As
Stunning that TINS ratio remains the same. the
mnniriuni indrntr,usss sSriiShGiI ms IL
higher rate than even VI. Gfn-NenUr II willing to
ccept. lie therefore makes proper allow
aucc for "a smaller RATIO Of Increase IN the cities
Ia the thrty give tlic' hrtWeen loiO and $50
was 10 ucr cent. Tine incro So u the Nl.slchu-
sets cities not included la the lisi OF thlrt two
"a 10 Itr cent. lh' iue ga q 81 the ONO cities
has been 49, ucr cent. The average incre. se ia
the two state li. been more than 10 ger c. nt.
70 b. cut'i'lf WITHIN bound. To assume that the
increase iu tic other citi's &C ~" country has
been 20 pes cent. or les Than hnli Il the average
ohio. ruon this la-i- the aggregate municipal
Indebtedness. nf the country at tut- tine
amounts To- s;,s Oul.,,0. or nearly Sa0OOj.Ouo
0 D.. fft NJ taf .fF u NT
NrW York furnished iruni thlt the csumat-
~ there se NJ ~ ptr cont. b. entirely ret.una '.
lllicn u nr, iIS w lnD, ,u.iulcliHi ecu. ~
that p tate uut-itc ul Sew York city. Hruohlyu.
aud Albany, nave, 'ncr ed li9 per cent Ia !, H.
than two Ncar'. II should Zoe s,ltei, however.
thai the thiriv-two cities which nave q tnth
bonded iudchicdntr- 90 si-jeG,,ss I'VE sinA-
ing funds that aiuuuut g. s6.fl3A3. u, dbc inc
tins. the net Indebtedness In these cities. Hud
those OF New York. Massachusetts, ana onto not
includtd IA that lsi. is S.Ii.6sis'il Add to tnis
the debts Of the other cities IN the country.
upon tue estimated Increase 81 ~ rcr cent. since
$50. and The net mui Ici at indebtedness 81 the
S SS.'' "'''' ''D'' ''"E '''"'''' Is sun e''O
In article which we printed few weeks
ago, We drew compgtspn between the mun-
cipal indebtedness ~ this country aud that OF
Great Britain. This cunnaison may now be cx-
tended stu further. The aver. re municipal in
dehtedness Of twenty English cities smaller
than London IL about $50 Ier capita. But the
minor american cisi,.' wan about the simc
p"pulatign ~ those twenty English cities, owe
ahou 50 per capita. &C. e. hir'st j. pf' en- e. !
Government Board 20 Gicat 81. ala shows th I.
dcductlLs The British national de It. there r. u
total local indehtedc,as ui &hrVntl0. or about
Sll per capita. Take the same loch md bted-
nes- in this country. iucluiinr everything ex-
cert he national deot aud We have:
stl,e dco ........... ..... sss2 o7otis
Aiuuitip4 aeois........... .... ......... iyoooco
aai o5o5i5
This g. q 'oc.l iudott, inc 81 about so per
capita .dl che p ouic .u thi- country. .r 40 uut