Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1894-04-05
FINANCE OF STATES.
The Mos, Of Them are Not Deeply
Embarrassed.
Isfofmalion From State Treasurers-West ana
South Feel Hard Times.

t;onal government has been forced by haru
times 10 issue loan Of SJ0,oo.0O0 and Is
sin stared in the face by a probably large
deficit. the individual states are NANNY IN
good financial condition. The 10 or 10 years
OF prosperity that preceded the present de
pression enabled those states that were
deeply in debt TO pay in part and nearly all
10 reduce the rate Of interest.
Ii thus happens that many of the states
approached the panic of last year with COM
paratively small debts AZ low rates OF inter
est and with 4 handsome cash balance I'D
the treasury. This year will sweep away
many OF these balances, but the return Oh
prosperity will not find the individual states
deeply EN- barrassed.
The western and southern states, winch
have felt the strain more severely than the
New England and the middle Atlantic
states, are able TO report fair financial
condition California has usually escaped
the worst results of panic>. She had on the
lst of February 1894, more than SstsJ0,oS
in her treasury. and her debt was LITTLE
less than s., 80, 900 at L per cent, mod
crate rate of interest ON the Pacific coast
when the debt was contracted California
neighbor, the fading state OF Nevada, be
gan the last fiscal year with SiO0,eI0 III her
treasury, and she carried most OF 1t 10 the
opening of the current fiscal year Her bal
anec al the opening OF the year was nearly
rs much as her total expenditures for the
year before. Her bonded debt is S5G9000,
mostly ut 5 per cent, and the state holds
for the benefit of several public funds over
81 10000 III her own and United States
bonds
Oregon has no bonded debt, and her float
ing debt OF Sl25, COO is in treasury warrants,
TO Is redeemed rs this years taxes come
in. If all can be collected, which is I'M
likely, the revenue for the year will be
S.250 600. Meanwhile, because of slowness
in collection, the treasury is low Few
states. howevt;, are better equipped to
meet hard times.
Most of the new far western states have
started the world well from a financial
point of view. Montana has no bonded
debt, and her floating debt is only So 900.
She has sol, 600 in the treasury for general
purposes and Sl2S, 600 to the credit of sew
eIal public funds. Her annual income is
500, and her condition seems as whole
some rs that of any state, old or new. Wy
ouliny has II bonded debt of only $500, 600 at
q per cent, an income of over S2l2, 900, and
early in the present year she had nearly
$500 in the treasury.
North Dakota is not SO fortunate, being
without cash in the treasury save Sls0,00
pledged to several funds, and having a
debt of $4,000 at per cent. Her annual
income, however, is nearly equal TO her
whole bonded debt, and she has already q
handsome school fund that Will one day ex-
coed 2O,000, coo in value. Washington also
has an empty treasury, but her bonded debt
is low, only $500, 0G0 at the low rate Of 81 per
cent. Her floating debt is $40, 600 in war
rants issued in anticipation of revenue and
taxes are coming in slowly. She has APP
propriated nearly 100000 on the fiscal
term Of two years ending March 81, 1895.
The credit of tho state has been and is ez
ccllcnt.
OF the territories, Utah and New Mexico.
each ambitious Of statehood, have consid-
cradle debts, and the former has long been
struggling with an annual deficiency of
over $4,000. Her bonded debt is 500 900,
at per cent. New Mexico is over $500 600
at about g.. per cent on the average, and
her floating debt is $4,000. She began the
present year with %l420oO in the treasury.
Kansas Is sample state of the middle
west, where stagnation seems TO have done
its worst, bus Kansas seems in good nnan
ciai condition 50 far as the state govern
ncnt is concerned. She had on Jan -, 1894.
nearly Si,C0c,CU0 in the treasury. with no
floating debt, aud bonded debt of about
S2,sO,OoO, mostly at per cent Her neigh
Dor. Iowa, has no debt, funded or floating.
cl12WO in the treasury and an income +
So1o,poo. Missouri has heavy debt of &C.
430,0OV, mostly at 3 . per cent. She is also
indebted to her seminary and school fund
/ TO the amount Of nearly 81 10000, at aud
opcr cent. Reconstruction requires, how
| ever, that She pay off at least S-50,O f ler
bonds per anHum, and the present rate of
taxation will enable her TO pay from $500 600
TO 100000 PR annum. There was in the
state treasury on Jan. = over 81 .000G00
Kentucky IS one Of the mos. fortunate of
the southwestern states. Her debt of 500
go Is mostly ct per cent, and her sinking
fund exceeds the debt $4,000. while her
treasury balanCe Jan. 1 was $50 O0o. Ohio
is in a Ike happy condition. Her entire
debt Of 1880 go will be paid BY .JuJv
1900 1t Is at 8 per cent. She has no floatiu,
debt and u cash balance in the treasure Of
more than $4,000, Indiana BEGAN the yerr
with more th%n 81 10000 in the Treasury
and no floating debt. Her bonded debt *
So,500,OcO at 81 per cent. Michigan is with
ont deDt OF any sort, but her treasury IS
low, partly because Of bad times. but chief
y because sse is near the end Of her tax
year.
New Hampshire is distinguished amouu
the New England states for financial svs.
tenn that makes her borrower for six
months Of the year. OF the other states
Vermont has debt Of less than 500 COO
and little balance Of 5000 in the treas
ury. Connecticut began her fiscal wear
with si,9C0,G0o in the treasury. and Mai 4
had on hand Jan. /, 1894, $685. 600 Each has
moderate debt at extremely low rates of
interest.
New DIRK has a cash balance Of over 81
-'O,o,o and proportionately one If tbesp,elI.
est of state debts. Pennsylvania net debt
is 8, AcoO0Oat ! per cent, and her BALANCED In
The treasury Mt the close of the last year was
more than S5,5O0.000.
Deiawares assets are nearly 500. Oo1 in
excess of her liabilities, and She has a treas
ury balance OF Sl9, 800, with no floating deb,
Although tarce or four southern sfates
| notably Virginia, North and South Caro-
lima and Louisiana, are still struggling uu-