Evening star. [volume] (Washington, D.C.) 1854-1972, 1902-10-07
DEBTS OF THE STATES.
A General Reduction in Their obliga-
lions in the Last Twelve Years.


From the New York Sun.
Remarkably healthy and creditable is
the showing made by the states in their
general reduction of the debts incurred for
public purposes. The forty-five states have,
collectively. a bonded debt of 5000 900, 600,
and, although other debts, municipal and
county have been increasing largely of late
years, state debts have, in most cases,
fallen off.
The state which has the largest debt
contracted through obligations entailed by
the civil warts Virginia, which owes S24,
BOB, 600 in bonded debt. Twelve years ago
its debt S31 OO0, Goo, and it has reduced
the amount by 100000.
The financial credit of Massa chusetts is
so high that it has, since 1880 been pledged
to sundry towns for local liabilities, the
payment of the bonds issued for which is
provided for by direct taxation. The actual
state debt, which was SOS, O00, 900 in $780, is
now so, 400, 600, reduction of $15,GO0,0OO
The debt of Tennessee, which, next to Vir-
ginia suffered most from the civil war, is
now $4,000 600 Twelve years ago it was
Sl6,6tt4OU0, 100000 more. During this
period the population of the state has in
creased quarter of million.
Louisiana has a state debt of $40, 800, 900.
Twelve years ago it was $11 500, 900, a re-
duction of $1,000, 600.
New York s-present debt. insignificant when
compared with us manlfOld assets, Is SlU,
GOO, an increase of So, 500, 600 compared
with what 1t was twelve years ago This
increase is due, almost exclusively, to the
canal debt, now $500 coo, authorized in
1888, and of what remains of the increase
StI5,OUO is for the acquisition of Adirondack
park lands
The debt of Alabama is 50, 800 OOO of
PENNSYLVANIA, $7,sOo,OOO, a decrease of
line. S6S00,0OO; of Georgia, s7OO0GOO, re-
duction since 1880 of 50, 100 GEO and of Mis-
sissippi, s., 100000.
Texas has reduced its state debt in the
same period from 81 200 600 to s715, 00C, Ar
kansas from 81. 000, 600 to 81 200. coo North
Carolina from $7,7O0,000 to So, POO. coo and
Maryland from $10,O00000 to $2,GG0,OOO.
partly by disposing of it's railroad invest
ments.
The debt of Kentucky, never large, has
been increased 80 per cent in twelve years.
1t Is now 81 100000. Nebraska has no state
debt. Neither has West Virginia, nor New
Jersey, Which owed 81 coo twelve years
ago.
Illinois. Iowa and Oregon have no state
debts which having matured are payable,
but they have small outstanding obligations
which have either not been presented for
payment or have not matured. These obli-
cations amount to $4,000 in the case of
Illinois. $4,000 in that of Iowa and $1,000
in that of Oregon. ~. T.
Wisconsin owes 50 200, 600, Michigan $780,
600, an inconsiderable sum for SO large a
state; Indiana So 100000 against $500. 900
| in 1880, Vermont $685. 600 California, 81, 3O0-
GOO, Connecticut 81, 70O 600, Kansas $3.50, O9O
Missouri $5,60O,000 against $S,6O0.O0O twelve
years ago, Montana $500 600, Ohio $3.50 900,
Rhode Island 3,25O0o0 and Maine 81, $780,
GOO. e. -
The credit of all American states is unex-
celled, the rates at which they can borrow
money are low. The need of public i'm
provements, buildings and waterways is
often urgent, and of the solvency= of Ameri-
can states to pay for these theresis no ques-
ton; but the policy of all the states is to
diminish. not to increase the sdebts, and
collectively the states have done SO and are
doing so. 49, id