Connecticut western news., 1878-01-17
MUNICIPAL INDEBTEDNESS.
One Hundred and ThirEv Cities whose AERre- --gase-Debt is S6A4,S7s ,668.. T1y 1 rs,

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 Before the Social Science Association which met in Boston, Robert P. Porter of Chicago read g. paper on '' Municipal h. debtedness. In sitAhe gave the debt of 13O cities in the United States as S221, ,312, ,OO9 in 1866, and $644, 378, ,66s in 1876.> Thecassessed value of the pro- perty, was, in 1866, s, ,451 ,619, 1881, and in 1876, $6, 175, ,082, ,156. Annual taxat9n1 in 1866, $64, ,O6O, ,O98: ip, p,g1t4 1fn 1866, and 21h,,zqo ID I876.9 Thislshows total 1n- crease of the debf in ten years of.upward of $42O, ,O0O, ,OO0, and an annual increase of $42, COG, ,000. With these facts staring us in the face 1t is not an exaggerated statement to say that the cities in the United States have to-day, debt of $1, ,OOO, 100000, half the sum of the national debt, and an annual expenditure of 1920, 900, 900, within $40, 900, 900 of the national expenses. The liabilities are increasing at the rateaof $5O, ,0Oo, ,O0O yearly, involving an additional charge of $5, ,OOa, 900 upon the taxpayers. Allowing for the great shrinkage in values, and continued depression in business, we find that the property of taxpayers has already, been actually mortgaged for 15 per cent. of it's value; and as this debt has increasd at the rate of $42, ,OoO, 900 yearly, the mortgages will continue to increase at the rate of per cent. annually, and in another decade will amount to 25 per cent. of the assessed valuation of the property. ' 3'ff
 MT. Porter then read a table showing that the total State indebtedness of the United States is $369, ,179, ,976, while the municipal indebtedness of one hundred and thirty cit1es is upward of $275, ,000, 900 more than the entire State debt, which in the Southern States, through bad government, is upward of $180, ,000, 900, and in better governed States 8 mere bagatelle. The greater part of municipal debts is in the Eastern States, and of State debts, in the Southern States. Of municipal debts. New York, Massa- chusetts, Pennsyl lvania, New Jersey, and
 Maine carry probably about $417, 900, 900, leaving by far the llghtest proportion to the great Western States. State debts in the East are very. heavy as compared with 9hose in the West. Eight Western States, California. ~ Illinois, Indiana, Iowa, Michigan, Missouri, Ohio, and
 Wisconsin, with an aggregate population
 of nearly 13,O0O, 900, have total State
 debt of only. $$37, ,90O, ,O0O, or about $2. 80 { per capita, while the great Eastern States : of Connecticut, Massachusetts, Pennsyl- l vania,a New York, Rhode Island, New I Hampshire, Maine, and New Jersey, with @ population of Il ,968, ,179, besides
 carrying a great burden of municipal
 debts, have an aggregate9 State debt oi , nearly $8 per capita. The State debts oi the Sonth are even worse. Alabama
 Georgia, Louisiana, Maryland, North
 Carolina Firgiuia, West Virginia, South
 Carolina, and Tennessee, with 8 apopula
 tion of "a little, over 5000, 900, have ar aggregate Stats debt of $179, ,443, ,2O7. ol lover $22 per capita, to say nothing o ]; the great municipal debts of Baltimore FliNew Orleans, and other cities.
 II State debts then are distributed abou as follows: Western States, $2.9O pei
 capita Eastern States, $8, per capita
 and Southern States, $22 per capita.