The Democratic press. [volume] (Ravenna, O. [Ohio]) 1868-1901, 1881-02-17
STARTLING FIGURES.
The I'm ma nse Ind e b te dness of Mu.
inequalities.

Il e Anl e nSe An0e DtedneSS Oh
inequalities.
A Washington special of the l1th
inst. 10 the Cleveland Leader, gives
the following important facts and fi!
ures regarding the indebtedness of
municipal corporations in this coun-
try:
"However alarming the estimates
of the amount OF municipal indebted
ness may have been, the real facts as
given in the elaborate tables issued
to-day from Mr.. POrter's division of
the Census Bureau, are more startling
than the widest guesses that have from
time to time been made at the aggre-
gate. We have here 800 cities, the
bonded debt of which aggregates
$664.000,0O0. There yet remains 1000
small towns, ranging in population
from 1000 10 1900, which have not
been tabulated. All but 200 of these
towns aud cities have sent in schedules
to the census office. To this number
must be added 1000 towrs and villa
ges under 1000 population, making a
total of about $500 incorporated cities,
towns, and villages, The 300 alone
| have q total Indebtedness of S664 OOO,-
600, smaller ones yet to hear from.
Heretofore no attempt has been
made either by the Bureau OF Educa-
tiOn or Census, with the exception of
one or two isolated instances by State
| Governments, to collect the statistics
of school district indebtedue and
ta' alton. The reason for this Ia appa-
re1i. for there are betw cen 10000 and
SOOQ0 school districts in the United
| States, and to secure an accurate re-
port necessitates returns from all these
debt creating divisions. Iu New Y Ork
State alone there are l4,OOO school
districts. The trustees of every school
district have been reached by the CEN
sus. Added to this, there are in the
States of Pennsylvania, Indiana and
Illinois, an aggregate of 1000 town
ships, which have finsncial existence.
1t is impossible, therefore, with the
present surprising statement of city
Indebtedness, as presented day, to
give, even approximately, an estimate
of the total city, towns, township, and
school district Indebtedness.
ITO the above city Indebtedness
must be added also the debt of 2,7OC
counties, which in 1870 amounted to
SlS7 100000, and which will not fall
short OF $2OO,0O0,00O now. The State
debts, amounting last June to $3.50,
100000, added to this, will bring up
the local Indebtedness of the United
States to over 81 200000,00O.
The aggregate popalatlcn of the
300 cities presented in Mr.. Porter's
report to- day is IL, 100000, or about
twenty-five and a half per cent. OF
the entire population of the country
Seventy-two OF these cities are located
in New England States, their aggre.
gate population being about 1,S00,O0O
their total debt being upward Of $l23
5000, or per capita debt of $62
The cities of the Middle States, witt
an aggregate population of nearly
100000, have debt of over 377, 7,O00,'
600. or per capita debt of $16. The
cities of the Southern States show S
total debt of about S6O.OO0,OOO, on
, per capita of about $5S to population
of little over ! 100000. The fourteen
Western States make much better
showing. With city population o
over 100000, donble that OF the Eas
} tern States, they have debt OF oveI
$113,7O0,000, or nearly S32 per capita
"Giaucing from the bonded deb
statement to the annual interest &C
COuHt-lL Is lCuuu tudt III EAstci IL OiotCi
per cent. is the highest rate, but ths
the bulk of the debt draws 3 and
per cent. This is virtually the same
in the Middle States. but in Southern
and Western States quite larg'
amount draws 10 and 8 per cent. Ia
ken as whole, 6 per cent. predomi
mates. no less than S303, 100000 draw
ing that rate of interest.
"Not long since Judge Kelley start
led the country by the announcement
!, that the British taxpayers with til,
low rate of English interest, paid th'
interest on their nations debt three
times in every century. The censu
discounts this by nonstrating th'
fact that the taxpayers OF 800 cities o
the United States pay in interest thci
enormous debt, aggregating S664 600,
600, over six times in every hundred
years. A careful computation reveal
the fact that the annual id Dterest on thi
, sum. amounting to S4l, 100000 year
aggregates S4.10O.000. 900 every centu
ry that it remains unpaid.