Rock Island daily Argus. (Rock Island, Ill.) 1886-1893, 1890-11-18
DEBTS OF CITIES.
The Census Bureau Gets at
Some Hard Facts.
A HEAVY LOAD OF OBLIGATIONS,

A HEAVY LOAD OF OBLIGATIONS,
But Decided Improvement Since 1880
the Total for sos Cities and Large
Towns Foots Up es45. $40, sS6, with
Res sources of $500, as, ss6-Their Con-
fitipn B-ttered in the Past Decade to
the Extent of s45.5f..eiO - Illinois
Stat istscs-
WARRINGTON CITY. Nov. IS The finan-
cial c. nd,tion in 1890 OF sss cities aud large
town, is shown in bulletin No. IL. issued by
the ce nsus Office yesterday. Within n few
days q supplemental bulletin will be is
sued. showing the same facts in relation
TO the remaining cities of this class. This,
with the one published yesterday, will
repres emit about IS per cent OF the munci-
pal de bt of the United States The gen.
eral results for the SaS cities and towns
covered are AS follows: The bonded debt
for 1870 shows an increase of per cent,
us compared with 1880; on the other hand,
the floating debt has decreased IL per
cent. the increase in total debt in 10 years
is z pc cent. The amount invested in sink.
ing fu nds has increased 2s per cent; the cash
in the treasury has increased 81 per cent,
and the total available resources have in
creased so per cent. since 1880.
Fina ncial Condition Generally Better.
In 7a6 cities and towns in which the
debt L. in excess of the resources, there
has been a decrease of per cent in the
debt nee 1880; in IL cities and towns in
xphi ch ba
debt, there has been an increase in re-
sources of IL. 81 per cent. u ten years The
annual interest charge in 1899 was per
cent. less than it was in 1880 The ex
hibit is, as whole, most satisfactory
and gratifying Que. During the last ten
years the S5S cities and towns represented
III the returns by reducing their debts or
increasing their resources have bettered
their condition financially To the amount
OF S45, 70l9.
Comparisons by Sections.
The New England cities and towns have
reduced their debt s., 439 $50, and have in
creased their resources by sllS.S9 max
ing joint gain of g SIS, 49, The cities
and towns in the Middle states Gnclud-
ing Maryland aud the District of Column
bia) have reduced their debts S4f. 322. I'll,
sum OF 81, "a, 40, making the joint i'm
provement IN their financial condition
S41, SAT, 30
Where the Debt Has Increased.
The southern cities aud towns have in
creased their debts by 81. 577, 34S, but have
increased their resources by $42i ,697, their
net increase In debt is expressed by S3,-
1865 The western cities aud towns,
a haf
their debts and resources The Increase
in debts amounts to $3.50 07S aud the
increase in resources to sll. SO, 6S5; the net
increase in debt is 81 ia, 1913 The cities
and towns considered in the territories
have increased their debts by $50 81 and
have 10 creased their resources by So 100;
the net increase in debt is S47, 517
The Gross Debt and Assets.
The gross debt in 1881 was $685. 494 al;
the assets valued Mt 1894 3i3. 7S2, leaving a
net municipal debS for the cities and
towns considered of S50l, 40 $50. The
gross Gebt in 1899 WAS S745 9I9. $50; the
resources amount to 500. 515 SO, leaving
a net d abt OF S455. 373 $40. These figures
show Il decrease, ss before stated, of
S45, "a, 019 in the net debt, which is a re-
duction OF O. ID per cent in the net debt
of 1880 OF the total debt of S145 $40 "a.
the sum of $40. Cos, 551, or &c 81 Der cent.
is bonded, while 81, 2S4 235. or s39 per
cent. j. floating debt.
Another Favorable Feature.
OF the total available resources or 500. =
SIS sf6. the sinking funds represent SI47.-
49,, 1911, or 50.65 per cent. while Sli3 394
655 or 10 b per cent. are in cash or other
available resources The total available
resources represent IS Is per cent. of the
gross debt, leaving 6l.05 per cent. for
future liquidation Not only has "A sub
stantia reduction been made in munich
pal debts since 1880. but reduction of
g, 0i5, 40 in the annual interest charge is
shown ~ the tables. The gain has been
principa ally in the cities and towns in the
middle states, which, as previously shown,
have educed their debts materially.
Comparative Rates of Interest.
An examination of the annual interest
charges. rs compared with the gross debt
at interest, discloses some interesting
comparative rates of interest in the differ
ent seci ions of the country In the New
England states, in 1880, the annual inter
est charge represented 4 80 per cent. OF
the gross debt; in 1890 the rate had fallen
to IL per cent. Inthe middle states the
rate in 1880 was 55S per cent; in 1880 the
| rate hal fallen to 80 per cent. In the
| southern states the rate in 1850 was 4 81
per cent; it had risen in 1879 to 5 Sc per
| cent. The western states showed an
average interest charge of =. IS per cent in
1880; in 1890 it had fallen to s. so per cent.
| The ter ritories in 1880 paid an average n
terest of Is. y per cent; this had fallen to
1.0S per cent in 1890
| Average for the Whole Country
The general average for the United
| States in 1850 was Sal per cent; in 1899 il
had ia len to i3 per cent decrease oil
073 per cent. OF the SIS cities and town:
considered. in 1880 there were 779 in which
| the de- was in excess of the resources
and 20 in which the resources exceeded
the debts. In 1890 there were .46 Ia de
crease Of 3s) in which the debts exceed ed
the res Ources, and liz IAN increase of 80
in whic n the resources exceeded the debts.
Returns From Illinois.
Ten years ago returns from seven of the
forty-one cities of Illinois showed that tn,
resources exceeded the Liabilities by 800.
$40. Now nine cities show resources ex
ceeding liabilities by $40, s07, 402 The az
| gregate amount of cash in treasury, etc
for CT les in Illinois was, in 1891
over $1,000, 900; now it is over so, 500, 900
the average for each of the forty-one cit
les being considerably over half mill
ion. Ii the case of the average for New
York, III seventy-six cities it is just half
million in each. Chicago's bonded debt
Is $l3 55t, 800; available resources. 81, O7O,
$50. ann ual interest charge ;.sl. 49,
Robert Fay Hamilton. al.
NEW YORK, Nov. 1S.-The will of tn,
late Robert Ray Hamilton was offered fol
probate yesterday. The document makes