The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-06-20
STATE DEBT DECREASING.
Less In Amount Collectively Than at the
Time OF the Last Federal Census.


At the time Of taking the last decennial CEN
sus in 1890 the collective net debts Of the
forty-four States-tEere are now forty five
amounted to S227.4OO.OOO. In 1926. three
years ago. the collective debts OF the forty
five American States Utah had meanwhile
been admttedl were Sl9S 5000. 900. a reduction
OF S21.OOO,OOO in six years Since that time
business conditions have been favorable to a
refunding of the state debts and to the liquda-
ton Of the issues which have in the me anwhile
matured and the policy of peLging the credit
OF a State for the construction Of railroad or
other public works has either fallen into dis
use or has been prohibited by constitutional
amendment.
At the time OF the taking o. the last census
Virginia stood first among the States of the
country In the amount OF its obligations. Ten
nessee came second. Louisiana third. Alabama
fourth, Missouri nth. Georgia sixth. Arkansas
seventh. and Indiana eighth. Among the New
England States. Massachusetts, came first in
tho amount due; among the Atlantic States
rs Tas a h al s Cali
South Dakota first among the Northwestern
States most recently admitted. In respect to
the burden OF such obligations. Virginia stood
first with more than $50 head, Louisiana was
equal with ST. each. and Iowa came last on
the list with no debt TO speak Of The total
dept OF COLORADO AT that period was S2iO.WO
only. represented BY q contribution TO the
school funds Of the State from the issuance Of
bonds many years ago.
To three causes ~ due the unusually great
years ago. In the first place. Virginia suffered
most acutely IN losses inflicted by the civil
war. especially in respect to the destruction OF
public property. In the second place. the i'm
tainty regarding the payment OF it, obliga-
tionH obliged 1t to borrow money required Tor
public purposes since the close OF the war
under conditions which wore most oppressive
Virginia and the State OF West Virginia as to
the liability OF the latter for n share OF the State
debt remains now undetermined. When the
northwestern counties Of Virginia seeded
provision was made for the payment OF the ex-
listing debt OF the whole state at that time and
1t has been contsnded since that the West Vir-
equitable proportion OF yirginia's obligations
Their failure to do 50 has left Virginia with
what may be called an indeterminatc debt but
the amount Of this and OF the acknowledged
now about $4,000, 900 less than at the period
The debt Of Tennessee shows practically
has Increased 5000, 900 meanwhilo: the debt
OF louisiana has fallen off S5.OOOOOO Ar
kansas has reduced its debt S5.OOU,OOO IndI-
ana now owes ST 100000 less than il did eight
tirely. Illinois has nominal debt only. The
debt Of New Jersey has been practically extin-
guished: Vermont owes less than Sl5OOOO:
Pcnnsylyania has reduced its debt about one
hall. and New York has now only such State
debit as was created for the acquisition OF
forest lands. the preservation OF the Mag.
ara Park. and the Improvement of the canal
system Altogether American States are not
running into debt they are paying off their
obligations as rapidly IA possible and are re.
ducing the rate OF interest at the same time.