The morning call., 1892-04-29
WHAT WE OWE.


letins is the last one. on national. State and
local indebtedness. This contains in
formation that will be new to many.
Most people know that the national debt
is about $500. 900, 000-the exact figure is
1891. 800. 104, the reduction in the last decade
having been S1,030 557, go. The debt of
other foreign countries is given as SIC, 621,
222, 135. and it increased during the decade
of 1S8o-9O rather more than the national
debt of the United States decreased, to wit.
S1.136, 729. $50, though there was no great
war during the period. England is de-
creasing her debt, though not as fast as this
country. The chief increase in the foreign
debts since 1880 is in the debts of France,
Germany, Italy, Austria and Russia, which
are spending vast sums en- their armies.
The volume which their debts have
reached is appalling 1t amounts in
round figures to more than the total
value of all the property assessed for taxa
tion in this country, and it seems to be in
creasing at the rate of five per cent per
annum. 1t is no wonder that we hear of
anarchists and dynamiters.
The new information contained in this
bulletin concerns local indebtedness. Mr..
Carroll Wright some time ago collected
few figures on this subject, but his statistics
are less complete than Mr.. Porter's. 1t ap-
pears that the total State, county, municipal
and school indebtedness in the United
States foots up S1.l35 2l0. 442, or over $780,
600, 600 more than the national Indebtedness
This form Of debt is increasing. 1t was
twelve millions more ia 1890 than it was in
1880. 1t may be assumed that the increased
indebtedness was incurred for useful aud
productive objects. Taxation for providing
interest on existing debt cannot increase
While national Indebtedness decreases a
thousand millions in the same period that
local Indebtedness increases twelve mil
lions. 1t may also be observed that while
the aggregate local Indebtedness of Ameri-
can communities increased absolutely
during the last decade. it decreased rela-
lively to population, the local debt per
capita being S32 81 in 1890, as against 500 70
in 1880.
State debts decreased during the decade
S6S, 245,706 their present aggregate being
S22S, 997.389 OF this aggregate nearly one
half is owing by the ex-slave States of Del
aware. Mary land, Virginia. West Virginia,
North and South Carolina, Georgia and
Florida. The Indebtedness of tie great
Northern States is small, PENNSYLVANIA
owing 81, o00, 900, New York something over
Ohio 100000. All these States reduced
their debts during the decade. The same
reduction of State debts took place in the
grain States of the Northwest; the only
ones which increased their Indebtedness
were Indiana and Michigan. At the South
Louisiana and Tennessee. which were heav-
lily incumbered in 1880. also paid off COP
siderable portion Of their debt in the
decade.
The State debts of the Western group
including Montana, Wyoming, Colorado,
New Mexico. Arizona, Utah, Nevada, Idaho,
Washington, Oregon and CalifornIa-are
light, in consequence of the constitutional
provisions throwing safeguards around the
creation OF debts. They only amount in the
aggregate to s., 3i5, 235. and as three-fourths
of this sum, or So, 133, 215, is charged TO Cal
ifornia, when, as a matter Of fact, the
State is practically out of debt, the great
Western country may be said to be unin-
numbered.
County, municipal and school district
debts all increased during the past decade.
The increase, in round figures, amounts TO
$4,000. 600. The Nortn-Atlantic group
including the New England and Middle
States-decreased their county indebted
ness; the increase in The South-Atlantic aud
the South-Central groups-including the
old slave States-iS trifling; but there was
an increase of S15.00O,0o0 in the North
Central group, which is mainly chargeable
to the Dakotas and Kansas, and an increase
Of about $1,000 coo in the Western group,
though California decreased her county in
debtedness by 100000. Municipal debts
were increased during the decade to the ex-
tent Of 10000 900. the increasebelng mainly
in the North-Central or grain States and in
the States west of the river valleys. In the
old New England and Middle States
municipal indebtedness Of 100000. 600 was
paid off; but Ohio increased hers Si4, 900,
Minnesota increased hers by like sum.
and Kansas added ST.. 0oo.o 900 to hers In
the Western group Colorado added 81, 500. 900
to her city debts. and California added
$500, 900 to hers.