Evening journal., 1890-11-18
TN A PROSPEROUS STATE,
Cities and Large Towns In
Good Financial Condition.
THE PROGRESS DURING A DECADE

Census DuiletIn No. IA shows That SOS
Large Places Have Bettered Theii
Standing over s45, 900. 900 In the Last
Ton Mountaineering Statistics.
WASHINGTON, Nov. is.-The financial
condition in 1890 of s5S cities and large
towns is shown in bulletin No. IA, issued
by the censas office. Within few days a
supplemental bulletin will be issued show
ing same facts in relation to remaining
cities Of this size. This, with the one pub
lished. will represent about 95 per cent. OF
the municipal debt OF the United States
The general results for the s5s cities and
towns considered are as follows; The bond
ed debt for 1890 shows an increase Of s per
cent. rs compared with 1880; on the other
hand, the floating debt has decreased u
per cent; .he increase in the total debt, in
the ten years, is Z per cent. The amount
invested in sinking funds has increased 2s
per cent; the cash in the treasury has in
creased 81 per cent, and the total available
resources have increased 50 per cent since
1880. In T46 cities and towns, in which the
debt is in excess Of the resources, there has
been a decrease Of 6 per cent. In the debt
since 1880; in 112 cities and towns in which
the resources are in excess Of the debt,
there has been an increase in resources OF
1,1s4 per cent in ten years. The annual
interest charged in 1890 was per cent. less
in amount than it was in 1850.
Better on by S45.777,010.
The exhibit IS as whole most satis-
factory one. During the last ten years She
SIS cities and towns represented in the re
tarns, by reducing their debts or increasing
their resources, have bettered their condi-
tion financially tothe amount Of A5,TT0l0
The New England cities aud towns have
reduced their debts So, 40 $40 and have in
creased their resources by Slls,s9i, making
a joint gain Of S255s,s3o
Increase of Debt in the South.
The southern cities and towns have in
creased their debts by Ss5T7, ,34s, but hive
increased their resources by s420,69T; their
net increase in debt is expressed by s., l56,-
65l.
TIE western cities and towns, like the
southern. have increased both their debts
and resources. The increase In debts
amounts to 81, ,G56,05s and the increase in
resources to S1i, ,5sl, ,6S5 the net increase in
debt is sl,124,s98
What They stili Owe.
The gross debt in 1850 was s695, 49f, 5il;
the assets were valued at Sl9f 3l3, 1872, leav-
ing a net municipal debt for the cities and
towns considered Of s5Ol, ,050,959 The
gross debt in 1890 was s745, ,949, 1856; the re-
sources amount TO $500 575, st6, giving
net debt of Si55, ,S73 $40 These figures
show decrease of O. 3 per cent. in the net
debt Of 1850 OF the total debt OF s7i5,-
949, 1855 the sum OF So, Cos, 55l or 96.6l per
cent, is bonded, while S25, ,2si 285, or 3.39
per cent, is floating debt or the total
available resources Of S2e0, ,575. s46 the sink
ing funds represent Si47isi, l9l, or 50,65
per cent, while Sl43. 1894, ,655, or 40 35 per
cent, is in cash or other available re-
sources. The total available resources
represent 3S 95 per cent of the gross debt,
leaving 9i.05 per cent for future liquida-
ton.
Reduction In Rates OF Interest
Not only has a substantial reduction
been made in municipal debts since 1880,
but a reduction OF S3,045,7i9 in the annual
interest charge is shown by the returns.
The gain has been principally ia the cities
and towns in the middle states, which, AS
previously shown, have reduced their
debts materially.
IN the New England states, IN 1880, the
annual interest charge represented 4.75 per
ceat Of the gross debt; in 1890 the rate had
fallen TO rs per cent, decrease OF 90
per cent In the middle states the rate in
1880 was 5.5S per cent; in 1890 the rate had
fallen to 436 per cent, a decrease Of -
per cent Inthe southern states the rate in
1870 was 49l per cent; il had risen in 1890
TO s. SO per cent, an increase Of 065 per cent.
The western states showed an average in
terest charge of 5 Is per cent in 1880; in 1890
it had fallen to 8 80 per cent, decrease Of
O.2S per cent The territories in 1880 paid
an average interest OF 15 50 per cent; this
had fallen to 0S per cent in 1890, de-
crease Of 674 per cent. The general aver
age for the United States in 1880 WAS sal
per cent; in 1890 it had fallen to 463 per
cent, decrease Of O.7S per cent.
Decreases and Increases.
There are forty-two states, one district
aud two territories under consideration.
IN twenty-nine of them their cities and
towns show decrease in debt On the
basis OF net debt, the cities aud towns con-
sidered in twenty-five states and territor-
les show an increase ia net debt, while Ia
nineteen states and territories there is a
decrease in municipal net debt. OF the SIS
cities and towns considered in 1880 there
were 40 in which the debt was in excess
OF the resources, aud seventy-nine In
which the resources exceeded the debts.
In 1880 there were 746 Ga decrease OF
thirty-three) In which the debts exceeded
the resources, aud 1l2 IAN increase Of
thirty-three) In which the resources ex
ceeded the debts.
OF the sevrnty-seven cities and town
considered, each OF whith had a debt o
more than 81, 900 in 1890. there wer
forty-five that had increased their gros
debt since 1880, and thirty-two that ha'
decreased their gross debt since that year
There were lifty-fve cities and towns tha
had increased their resources since lSsC
while eighteen had less resources In lS9
than in 1880. An increase In net debt wa
reported by thirty-three cities and town
Of the seventy-seven considered, Will
forty-four reported decrease in net debt
An Iron Company Embarrassed.
D., 4 -,