Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1890-08-14
STATE DEBTS.
some Interesting Figures Gathered from
Census Reports-A Comparison with the
Report of 1850 Shows Some Surprising
Iy Big Transfers to the Credit Side of
the ed

~ Dig transfers to the Credit SIDE o
| the Ledger.
| A census bulletin, issued by Superin
| tendent Porter, contains preliminary
| report relatir-g to State debts and pre-
sents a summary of the outstanding
! debt of the several States June l. 1880,
and June l, 1890. The superintendent
says, in regard to these statistics. that sit
is impossible in dealing with State and
local finance to give all the returns as OF
June l, 1890, AMI the act for taking the
eleventh and subsequent censuses, ap-
proved March l, 1889, provides that re-
turns shall be made of and for the fiscal
year having its termination nearest to
the 1st of June, 1890 AS this plan was
substantially adopted ten years ago, the
comparison of the total debt in 1880
with the total debt ~ the present time
is both fair ANA accurate. From these
returns it will be seen that in the de-
cade ending 1899 State indebtedness
has decreased, in round numbers, about
SIS, 900, O00.'
Mr.. j. X. Upton, tho special agent on
State finances who has been in charge
OF the work, says that the reported
bonded debt represents in each case
the amount of negotiable securi-
ties outstanding al the time men,
toned, and the floating debt, that
of all other obligations of the
States, including those assumed or in
Cured for specific purpose, even
though no actual bonds or certificates
have been issued, therefore the asse is
EN- brace the cash and all productive Sc
curltles on hand of which valuation is
reported. whether they belong to the
State or any of its funds. although in
some cases they are not wholly applica-
bic to the payment of debt, but are
pledged for the use of schools or chart
ties. 1t is shown by the statistics that
the bonded debt of the States has de-
creased a little more than 500, 900, 900 in
the ten years, the present bonded in
debtedness being Sl94, 500, 81. So. The
floating Indebtedness of the States has
increased in the same time little more
tnan s., 600, 900, being now $i3, 500, 21S. 43.
The exact total decrease is $5S, 02O,-
93144, the total Indebtedness of all the
States being now S23S, 396, 500. 81. The
total cash and funds on hand in all the
States is little more than Sl56, 900, 900,
which leaves the net debt Sl32, $780,
CSC. A
During the same time the bonded
debt of the United States Government
has been decreased nearly 81, 900, 00O,
900, but the floating debt has increased
a little more than $780, 900, 900. There
is more cash and funds on hand, how
ever, this year tlan there was in 1880,
the amount now being a little more
$780, 600, 900. The ret debt of the
United States has decreased in ten
years 5000. 141, 205. Is. In most of the
States reducing their Indebtedness dur
ing the decade, the report says, the re-
ductiOn has been accomplished by APP
plying to the eXtinguishment of their
obligations the revenues not needed
for current expenses. In few States,
however, the apparent decrease of the
debt has arisen from the enforced re-
funding of the old debt with a new one
at discount varying from 25 to So per
cent. In Virginia the rate of discount
has been from 20 to so per cent, and the
amount of discount S3, 334, 800. In North
Carolina the rate varied from 60 to 81
per cent, and the amount of discount is
s., 676, 273. In South Carolina so per
cent. has been the rate of discount, and
the amount is only 1851, 461. Louisiana's
rate of discount has been 60 per cent,
and the amount is S9,315,O57. The rate
of discount in Tennessee has been about
Is per cent, and the amount is S7,676,
O74.25. Taking from the amount of de
crease in all the States the amount thus
arising from the discount in refunding
and there is left as paid in cash $780,
497, 766. 10, and the geographical section
which includes these States, instead Oh
having a decrease of debt of S27, $685..
5S7. SO, as shown by the statistics relat,
ing to the Southern States, will have an
increase of 1929. 577.S9.
Illinois shows the smallest bonded
only S23, 100. This is a
decrease of about $3.50, 900 since 1880.
The largest bonded indebtedness is
shown by Virginia - S2s, 6s7, 6O3 70.
Massachusetts is next, with only a
couple of hundred thousand dollars
less, and the third highest State is
Pennsylvania-nearly $14, 900, 900. Mis-
souri, shows bonded Indebtedness of
IS, 1S3. 900, decrease Of about one-half
in ten years. Kansas has bonded in
debtedness of only $S01,000. Her
bonded Indebtedness in 1880 was ST.
1S1, 975. Arkansas has bonded in
of 81, 1868, 100. a reduction
of about $1,000, 900 since 1880. Texas
shows bonded Indebtedness of 81, 337,
73O, a decrease of little more than
81, 900, 900 in ten years.
Virginia has also the largest floating
Indebtedness, nearly $4,000, 600, and
Michigan is second, with 5000, 900;
Ohio is third, with 81, 10000 Missouri
is fourth, having a floating debt of S.
674 0O0 This is an increase of more
than 100000 in ten years. Illinois
floating Indebtedness has not changed
since 1880, and is 81, 165, 4O732. Kansas
has no floating debt, and in this re-
spect it is like Delaware, Florida, In
diana, Maryland, Massachusetts, Min
nesota, Nebraska, Nevada, North Caro-
lima, Oregon, Texas and West Virginia.
Arkansas has floating debt of s., $780, |
915.
The richest treasury appears to be in |
the State having cash !
and funds on hand to the amount of
more than $50, ZOO, 900. New York has |
over SIT, 900, 900 cash and funds on
hand, and Minnesota is third with a
surplus of nearly $4,000, 900. Penn |
sylvania has little more than S12,-
900, O0O The smallest amount of
cash and funds on hand is held by |
Maine, only S62, 600. Missouri has ST.
OF, $50 so cash and funds on hand, an
increase OF about 81, 900, 600 as compared |
with 1850. Illinois has So, $50. $50. 16, |
also an increase of about 81, 600, 600. |
K anSaS is much better fixed than some |