Vermont watchman and State journal. [volume] (Montpelier, Vt.) 1836-1883, 1878-01-30
Debts Of Cities aud States.

The attention of thoughtful minds will be
lttractcd to remarkable paper on the above
subject, which was read at the late meeting
pf the American Social Science Congress,
held in New York city, It's author Robert
p Porter of Chicago last summer addressed
leading cities letters of inquiry respecting
the debts of the municipal governments,
The assessed value of property owned by the
citizens. and the amounts raised by taxation
n 1866 aud tn years later, in 1875. lie
received returns from one hundred and thirty
cities, and from the statements thus gath
sred he has reached conclusions that ought
to alarm all thoughtful persons. The debt
If these one hundred and thirty cities is
s6ii 100000. IL is almost three times as
great as it was ten years ago. Its annual
increase is Si2,000000. The writer says;
"With these facts staring us in the face ii is not
IN exaggerated statement to say the United States
mas to-day a debt of 81 900 600 600 half the sum
IT the national debt an annual expenditure Of
500 900 000--withn $40 900 900 of the national
expenses--liabilities increasing at the rate of
5000 900 yearly, involving an additional charge
If 5000 600 upon the taxpayers. Here is SUI
iient explanation of the difficulty our merchants
experience in overcoming the existing financial
md industrial d-pressions rs compared with the
rapid power of recupertion they exhibited in past
generations after financial ebb This is not an
imaginary danger, but one which the inyestga-
ton into the financial condition of the one huns
bred aud thirty cities shows exists IN fact The
property Of these one hundred and thirty cities
was valued at about $1,000 900 900 II we allow
for the great shrinkage of values since then and
the continued depression OF business, we find that
the property of the taxpayers has already been
mortgaged for fifteen per cent of its value, and as
this debt has increased at the rate of $40 900 900
yearly the mortgage will continue to increase at
the rate Of one per cent. annually and in another
decade will amount TO the enormous sum of twenty
i've per cent. Of the assessed valuation"
The highest rate of taxation is in Boston,
where the citizens pay S29,50 each. The
next to the highest is in New York, where
the rate is $3.50. The people Of Cincin.
natl pay $50 20, aud those OF Chicago and
Philadelphia about Sl5, The euormity of
these tax : may be appreciated better ii we
contrast them with those of some foreign
states, where the expenses of army and navy
aud government works are included in the
apportionment Ia Canada the taxation is
1886; in ireland it i, 1882; in the Neither
lands it is Sll.lG in Bavaria it is Sl0.Sl /;
in Switzerland it is 1896; in Portugal il
is 1886.
The total Indebtedness of the American
states is only about two-thirds that of our
cities. Terrible as were the financial abuses
in the South, and ex,ravagaut as the state
governments there are known to have been,
the debts created are not so alarming as those
of our large cities The debts of Western
cities and Western states, contrary to the
general impression, are comparatively small /;
the burden falls chiefly upon the East and
the South. The indebtedness of the West
ern states is but S37,O75, sos. That of the
Eastern states is s0i,3i0,9Gi. That of the
Southern states is Sl79,il3,2O7.
Various plans have been proposed for the
reduction of our city debts. The municipal
commission appointed by the authorities of
Massachusetts, reached the conclusion that
no reform could be effected until the suf-
frage in our large cities shall be limited to
the taxpayers, or until all questions of ex.
penditure shall be referred by law to a body
of special officers chosen by taxpayers alone.
| with this conclusion Mr. Porter agrees.
| Whether either of these is the proper rem
ody, We shall not presume 10 say. That
some remedy must be found, and that with
out delay, is evident to every one.
FRoM the Mobile RegiSer' MIR. Voorhees,