Morning journal and courier. [volume] (New Haven [Conn.]) 1848-1894, 1893-08-30

states Have No Debts at All. aud
Nearly All Have Reduced Their
Bonded obligations.
lFrOm the New YORK sun
The forty-fOur United States owe, col
lectively, sea-, ,OOO, coo, and they pay To
the holders of state securities ten million
dollars year as interest. Though the
population of the United States has in-
creased during the ten years between 1850
and 1890 from fifty to six:y-two million,
there has been no increase In the debt of
the several states. On the contrary, the
total obligations were less In 1890, And,sre
less now, thkn they were at any time be
tween 1880 aud 1885. Careful financIerIng
is the rule In American commonweAlths
to day. 1t was not always 80, especially
when, in high imitation times In the west,
states pledged their credit and securities
to railroads, water works and other bust
ness ventures, or in the south when the
rule of cnrpet-bAg sdventurers YVES at its
height.
Ten years ago the state debt of New
York was 81, 900, 600. Now IL is 50, 600,-
600, q reduction of nearly a million,
though the state has been put to much tK-
pense in acquiring land for the Niagara
Park reservation. land In the AdirondAckE
and real estate for various public build
ings demanded by the expanding require
ments of population of six million per
sons. Ten years sgo FIVE states had more
than $40, ,000, 600 in outstanding obligs-
tons each. They ranked in this order:
Virginia S29, ,000. GOO, Tennessee S27, ,OO0,
600, Louisiana S23, 600 900. and Msssschu-
setts and PennsylvaniA SEQ, 900, coo esch.
There has been no diminutinn of the debt
of Virginia, which wRs returned by the
last census as S3i 200 600. an increase of
50 000, 900 in ten years, bat by the opera
ton of laws passed by the legislsture and
by the acts of commissions appointed by
the Virginia bondholdsrs, the interest has
been scsled down, and some of the uncer-
tsinty about the obligations has been re-
moved.
The close of the civil war left Virginia
devastated and Impoverished, with many
of its former Industries irretrievably
ruined and q large share Of it's portable
| wealth almost oblitersted. A reign of
carpet bag finsnciering followed, and the
debt of this state was sent up to $47, ,000,
600. 1t has since been reduced to S3l, ,000,-
600, but the interest charge, 81 500, 600
yesr (New York pays only 1915, 600 year.,
is oppressive. During the ten years suo-
cseding 1880 the state debt of Pennsylvania
| 000, 900. The debt of Louisiana, largely a
heritage of carpet bag rsscslity, wAs s40.-
/ 000, 600 In 1870, and Is now 81, 600, 600.
There has been q reduction in Tennessee's
debt from $27, ,0O0, 600 to SIG, 900 900, but
/ in Massachusetts,, under much more favor
| able conditions for the extinction of the
| stAte debt, there has been an increase from
| $50, ,O00, 900 to SOS, ,000, COO.
Names debt has been decreased from
4 L.,
4 New Hampshire's has been decreased from
81, SOC, 600 to s., 500 600. Little Vermont,
believed by all Green Mountain men
worthy of the name as the ideal New Eng
| land commonwealth, has no debt q state,
| neither have any of the counties compos
| ing it. The last installnsnt, 81, 600, of the
| old Vermont debt was paid of a few years
i ago. The debt If Connecticut. which WAS
| SIS, ,000, 600 ten years ago, Is now 50, 70O,-
l 900, and the debt of Rhode Island, which
was 81 500, 900. is now 81 200, ,OOO-one-
| third less. Though the reduction of debt
| in the old established states of New Eng
I land has been gradual and satisfactory,
/ better results, in a shorter time, have been
| obtained in some of the western states.
| Thus Iowa has no debt Whatever. Neither
| has Michigan. Neither has Illinois. These
three states are exceptional IL this, though
| in the case of two of them, Illinois and
1 III n.
due bonda outstanding, interest uDon
| which has ceased. Wisconsin, which had
s., ,000, 600 of debt ten years ago, has paid
Ii off and has now no obligations. Ohio
has reduced her debt from IS, 700, 900 TO
| g, 700, 600, a clear gain of 1000, 600
| Kansas has only $500. 600 debt, and Ne
braska has only $450, 900. Colorado owes
$3.50. 600; Wyoming, $500, 600; Nevada,
$3.50. 600; Idaho, $4,000; Washington,
$500, 900. These debts msy be said TO be
merely nominal, when one contrasts then
with the vast resources available for theil
liquidation.
Two western states are exceptions 10 th,
| general rule Of diminished obligations
Indiana and Minnesota. The Indiana deb
has increased from 81, 200, 900 TO S.. 500,
600 within ten years, and MinneeotA's deb
from s., 500, 600 TO s., 500, COO in the sam
| period of time. California has reduced
her debt from IS, 800, 600 TO s., 500, 900
Oregon has no debt whatever; neither hs
| Montana North Dakota owes 500, 90
and South Dakota 81, zoo, 600 for oblIga
tons incurred when statehood was &c
quired.
New Jerseys debt Ia 81, 200, 900. Della
wares debt Is 5000, 900. The former hai
slightly increased. the latter has slightly
} diminished since 1880. Maryland has Z
debt of $40. 600 900 against s., coo, 900 ter
wears ago. Georgia has a debt Of siO,'
. 600. 600, substantially the same as In 1880
Florida's debt remains at the old figure
81 200, 900. North Carolina's debt has In
/ CREASED from IS, 700, coo TO 81, zoe, 600
south Carolina's debt remains about as be
fore, SO, ,6O0, 900. Alabama owes se, 600,
OpO. Mississippi owes 1000, 900, the old
| debt having been repudiated. Texas
though growing enormously In wealth
population and current state expenses, hAi
sslFressed her bonded obligations from
AZ 500. 600 to 81, ,200, 600. Arkansas has II
} ian wears cut down her obligations from
: 81 O0O. 600 to 81, ,OO0, 600. Missouri has Gu
= down her debt from SIC, ,000, 600 to s., 600,
600. and Kentucky owes less than 81 900,
600, and would probably owe less excep
, for the dereliction of recent state treas