The Douglas independent. [volume] (Roseburg, Or.) 187?-1885, 1879-08-30
Debts of the Southern states.


Numerous inquiries as to the debts
of other Southern States, their
amounts, and compromises made,
will be best answered by giving all
the information we possess on the
subject:
The debt of Alabama in 1873 was
SO, ,669; real and personal estate,
tax basis, sl17, ,486, ,58l; tax, 20 cents;
amount raised by tax, 1927, ,399.
Arkansas, debt, S4,153, ,035; un-
funded debt, s13, 1867 ,012; tax basis.
S94 900, 900; tax, so cents; amount
raised by tax, S457, ,450.
Florida, debt, 81, ,348, ,272; tax basis.
$50, ,OO0,O 900; tax, 90 cents; amount
raised by taxation, S225, 900.
Georgia, debt, sl0,644, 500; tax
basis, s235, ,659, $50; tax, SO cents /;
amount raised by tax, S1,129, 900. In
1872 Georgia annulled sf0,477, 900
clearly fraudulent bonds, leaving the
debt at that time 81, $50, 500, recog-
nizing s5,798,O00 of the Bullock
bonds.
Kentucky's debt is only 1852
841; her tax basis, 1857 ,326,013; tax,
40 cents.
Louisiana's debt, 1873, amounted
to $12, ,660, ,443; tax basis, STA, $780,
600; tax, 81 45. The amount raised
by taxation in 1873 was s2,473, ,629.
Mississippi, debt, $2,954,45s; tax,
so cents; tax basis, S12,700, 900;
amount raised by taxation, s634, ,70l.
Missouri's debt in 1879 was sl6,-
758, 1000; tax basis, real and personal,
a little over Sc, ,000, 900; tax, 40 cents;
amount raised by taxation, 81, ,843, ,953.
North Carolina, debt, 1873, S27,-
120,228; tax basis little over S148,
900, 600; tax, 38 cents; amount raised
by taxation in 1873 $685., ,635.
South CaroIina's debt in. 1878 was
6,739,696; tax basis a little over
s125, 100000 tax, 45 cents; amount
raised by taxation, s715,982. The
debt statement in 1874 was S17, ,017,-
651, of which S9,54O,750 was bond
debt; s2,679, ,293 floating debt, and
S4,797 ,608 contingent liability. And
this statement did not include So, $685.
900 bonds issued for conversion of
State securities under the act of
1869, which even Republican Leg
islature declared issued without
authority. The amount given as the
debt in 1878 is that left after fair
judicial investigation by court ere.
ated for that purpose.
Texas's debt in 1878 was S5,073,-
861; tax basis, s257, ,632, 900; tax, so
cents; amount raised by tax, ST.
356, 40.
Virginia's debt in 1873 was $780,
50,826, her tax basis, real and per-
sonal, s322, ,569, ,63I; tax, so cents
amount raised by tax, SO, 500, 900 per
annum. Since that time settlement
has been proposed which is abso-
lutely demanded by inability to pay.
We have not the details of that set
tlement at hand, but it is much more
favorable to the holders of the bonds
than that of Tennessee.
Tennessee's debt and interest is
S24 ,857, ,115; the debt as scaled will
amount to little over 81, 900, 900,
the interest to about S500,000, re-
quiring tax of less than 35 cents on
the 500, in addition to the amounts
from other sources, such as privileges
and the 100000 from railroads, to
pay this and ordinary expenses. The
tax basis in 1878 was 1928, ,212, ,153,
and the amount raised in 1873, was
$626,529.
1t will be seen at once from this
that Tennessee will bear after this
settlement lighter burdens than any
Southern State, even after Louisiana
secures her reduction of interest to 8
per cent. for Is years, leaving the
principal intact. The question per-
tains to ourselves solely. What is
right, just, and the best policy for
ourselves, is the sole question; but il
anyone chooses to look to other
States for light, he will find tha,
everything points out the reception
to this settlement as the best posi-
BILE course to take.-NdshUilie, Tenn.
American, july 18th.