The Wichita daily eagle., 1894-03-02
STATES ALL RIGHT.
MOST OF THEM ARE NOT DEEPLY EN-
BARRASSED.
Information Obtained Directly From State
Treasurers-The West and South Have
Felt the Financial Strain Most-An Inter-
esting and Suggestive Computation.
Especial Correspondence ]

OAs SnO An0nCi6A Stralh tlOst-AA AHtCH'
esting and Suggestive Computation.
Especial Correspondence
WASHINGTON, Feb. 26-Although the ma
tional government has been forced by hard
times to issue a loan of $50, 900 600 and is
still stared in the face by probably large
deficit, the individual states are mainly in
good financial condition. The 10 or Is years
/of prosperity that preceded the present de-
deeply in debt to pay in part and nearly all
TO reduce the rate of interest.
1t thus happens that many of the states
approached the panic of last year with COM
paratively small debts at low rates of inter-
est and with handsome cash balance in
the treasury. This year will sweep away
many of these balances, but the return of
prosperity will not find the individual states
deeply embarrassed.
The western and southern states. which
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 panics She had on the
1st of February, 1894, more than s., ,S50, 600
In her treasury, and her debt was little
Ness than &, 100000 at per cent, mod
crate rate of interest on the Pacific coast
when the debt was contracted California's
nei9h Dor, the fading state of Nevada, be-
gan the last fiscal year with s400, 600 in her
treasury, and she carried most of it to the
opening of the current fiscal year. Her bal
ance at the opening Of the year was nearly
as much as her total expenditures for the
year before. Her bonded debt is S569, 600,
mostly at per cent, and the state holds
for the benefit of several public funds over
$1,000 900 in her own and United States
bonds
Oregon has no bonded debt, and her float
ing debt Of Sl25 600 is in treasury warrants,
to be redeemed as this years taxes come
in. 1t all can be collected, which is un-
likely, the revenue for the year will be
125,OO0. Meanwhile, because of slowness
In collection, the treasury is low. Few
states, however, 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 ST., 600
She has $66, 900 in the treasury for general
purposes and sl2S 900 to the credit of sew
eral public funds Her annual income is
S450, coo, and her condition seems as whole
some as that Of any state, old or new Wy
Oming has a bonded debt of only 1920, 900 at
g per cent, an income of over $4,000, and
early in the present year she had nearly
5000, 900 in the treasury.
North Dakota is not so fortunate being
without cash in the treasury save SlS0, 600
pledged to several funds, and having a
debt Of $500, 900 at 5 per cent Her annual
income, however, is nearly equal to her
whole bonded debt, and she has already
handsome school fund that will one day ex-
ceed $40, 900, 600 in value. Washington also
has an empty treasury, but her bonded debt
is low, only $500, 900 at the low rate of 81 per
cent. Her floating debt is $40, 900 in war
rants issued in anticipation of revenue, and
taxes are coming in slowly. She has ap-
propriafed nearly g., 100000 on the fiscal
term of two years ending March 81, 1895.
The credit of the state has been and is ex-
cellent.
Of the territories, Utah and New Mexico,
each ambitious of statehood, have consid-
erable debts, and the former has long been
struggling with an annual deficiency of
over S740, 900. Her bonded debt is 500, 900,
at per cent. New Mexico is over 5000, 900,
at about 6JS per cent on the average, and
her floating debt is $660,OO0 She began the
present year with S142, 600 in the treasury
Kansas is a sample state of the middle
west, where stagnation seems to have done
its worst, but Kansas seems in good finan-
cial condition so far as the state govern
ment is concerned. She had on JAN 20, 1894,
nearly 100000 in the treasury, with no
floating debt, and bonded debt of about
s., SOC, 600, mostly at per cent. Her neigh
bor, Iowa, has no debt, funded or floating,
S152,000 in the treasury and an income of
sS50,000. Missouri has heavy debt of &c.
$50, 900. mostly at 81 per cent. She is also
indebted to her seminary and school fund
to the amount IF nearly s. 440, 900, at and
Is per cent. Her constitution requires, how
ever, that she pay off at least s250, 600 of her
bonds per annum, and the present rate of
taxation will enable her to pay from $500, 900 |
to 100000 per aDnum. There was in the |
state treasury on Jan. "A over 81, 600, 600.
Kentucky is one of the most fortunate of
the southwestern states Her debt of $685. |
600 is mostly at per cent, and her sinking |
fund exceeds the debt $4,000, while her
treasury balance Jan. l was $3.50, ,0O0 Ohio |
Is in like happy condition. Her entire |
debt of 81, $4,000 will be paid by July /,
1900. 1t is at per cent. She has no floating
debt and cash balance in the treasury of |
more than $500, 900, Indiana began the year |
with more than $l,000,000 in the treasury |
and no floating debt. Her bonded debt is |
S., 500. 900 at 3 u per cent. Michigan is with
out debt of any sort, but her treasury is |
low, partly because of bad times, but chief /
ly because she is near the end of her tax |
year.
New Hampshire is distinguished among |
the New England states for financial sys-
tenn that makes her a borrower for six
months OF the year. OF the other states
Vermont has a debt of less than 500 900
and little balance of 5000 in the treas
nry. Connecticut began her fiscal wear
with 81 ,00o, 600 in the treasury, and Maine
had On hand Jan. l, 1894, $685. 600 Each has
a moderate debt at extremely low rates of
interest.
New York has a cash balance of over 81
2s0,oOo and proportlonately one of the small /
est of state debts. Pennsylvania net debt
is s., ,400, 900 at 4 per cent, and her balance in
the treasury at the close of the last year was
more than s5,s0Q,Oo0
Delaware's assets are nearly 500. 600 in
excess of her liabilities, and she has treas I
ury balance OF $40, 500 with no ffoatin debt.
Although three or four southern states.
notably Virginia, North and South Caro- |
lima and Louisiana, are still struggling un-
der what they have not repudiated of their
debts, going back 20 the reconstruction |
period, the financial condition of the south-
ern state governments Is, on the whole !
good. Maryland began the year with near
" $50 600 in her treasury and net debt of !
s. 600 600. It will be cleared off in 1901 |
Georgia and Florida, among far southern |
states, have each enough cash In hand to
meet all appropriations. The former has