Staunton spectator and vindicator. [volume] (Staunton, Va.) 1896-1916, 1902-10-24
DEBTS OF THE STATES.
A General Reduction in Their Obligations
in the Last Twelve Years.

Remarkably healthy and creditable
is the showing made by the States III
their general reduction of the debts IN
Cured for public purposes.
The forty-fve States have, collie
lively, bonded debt of 100000, 900,
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-contIacted through obligations
entailed by the civil warts Virginia,
which owes S24, 363 900 in bonded debt.
Twelve years ago it's debt was SO ,oOo,-
600 and i, has reduced the amount by
$z0O0,00O.
The financial credit of Massachu-
setts is SO high that it has, since 1870,
been pledged to snndry towns for local
liabilities, the payment of the bonds
issued for which is provided for Dy
direct taxation. The actual State
debt, which was SIS. 900 900 in 1890. is
now 81. 400 900, a reduction of Sl5.-
600 coo.
The debt of Tennessee, which, next
to Virginia, suffered most from the
civil war, is now $16, 200, GOO. Twelve
years ago it was 6,600,00O $40O,0O
more. During this period the popula-
tion of the State has increased a
quarter of million.
Louisiana has State debt OF $l0,-
OOO, 900. Twelve years ago it was $11,-
900 900, reduction of 81 100000.
New York's present debt, insignifi-
cant when compared with its manifold
assets, is $lO,0O0,O00, an increase OF
Sc. 500 900 compared with what it was
twelve years ago. This increase is due,
almost exclusively, to the canal debt,
now IS, SOC, 600, authorized IN 1895, and
eff what remains of the increase $780,
900 is for the acquisition of Adirondack
Park lands.
The debt of Alabama is SO, 500 900, of
Pennsylvania 81 800, 000 decrease OF
S4. 900 900 in twelve years; of South
Carolina So 500, 600; of Georgia 81, ,6OO,-
900, reduction since 1890 OF ", 4OO, 900,
and of Mississippi 81, 100000
Texas has reduced its State debt in
the same period from S4 300 600 to
S7l5. 900, Arkansas from $2,000,O00 to
81 zoo. 900. North Carolina from ST.
zoe, 900 to sc, 200, 900 and Maryland from
$40 .OOO, 900 to $4,000, 600, partly by dis
posing of its railroad investments.
The debt of Kentucky, never large,
has been increased 80 per cent. IN
twelve years. 1t is now Sl,1oO,o 900.
| Nebraska has no State debt. Neither
has West Virginia nor New Jersey,
| which owed 81 $50, 600 twelve years
ago.
Illinois Iowa and Oregon have no
State debts which having matured are
PAYABLE, but they have small outstand
ing obligations which have either not
been presented for payment or have
not matured. These obligations
amount to $4,000 in that of Iowa and
Sl, 900 in that of Oregon.
| Wisconsin owes $2,20O 900, Michigan
| S4O6 900, an inconsiderable sum for sc
large State, Indiana So, 800. 600 against
4 Se. SOC, 900 in 1890, Vermont 1885, ,000
'fCalifornia $4,000. 600, Connecticut ST.
700, 900, Kansas $3.50, 1000, Missouri 70,
500, 900 against $4,000. 900 twelve year.
ago, Montana $500, 600, and Ohio S45o,
600, Rhode Island So, $50, 900 and Maine
s., 500. 900.
The credit of all American States
unexcelled, the rates at which they Ca
borrow money are low. The need o
} public improvements. buildings an
waterways is often urgent, and OF th
g solyency of American States TO pay 10
i these there is no question; but the pc
d licy of all the States is to diminish, nc
j TO increase the debts. and collectlvel
" the States have done so and are dom
{ So