Custer weekly chronicle. [volume] (Custer City, S.D.) 1890-1931, 1902-11-01
DEBTS OF THE STATES.
In Last Twelve Years There Has Been
a General Reduction.


New York Sun: Remarkably healthy
and creditable Is the, showing made
by the states In their general reduction
Of the debts incurred for public pur-
poses.
The forty-five states have, collective
ly, a bonded debt Of 5000, 600. 900, and al
though other debts, municipal and
county, nave been increasing largely of
late years, state debts have, in most
cases, fallen off.
The state which has the largest debt
contracted through obligations en-
tailed by the civil warts Virginia,
which owes $24, 1868, 900 in bonded debt.
Twelve years ago It's debt was $31, OOO,-
600 n 1t has reduced the amount by
$1,000, 900.
The financial credit of Massachusetts
is so high that 1t has, since 1890, been
pledged to sundry towns for local LA
bilities, the payment OF the bonds is
sued for which is provided by direct
taxation. The actual state debt, which
was $2S, 900, 900 in 1890, is now $12, 400, 900,
a reduction of SIS, 600, 900.
The debt Of Tennessee, which, next
to Virginia, suffered most from the.
civil war, is SIG, 200, 900. Twelve
years ago 1t was SIC, 600, 900, $400, 900
more. During this period the popula-
ton of the state has increased a quar-
ter of a million.
Louisiana has a state debt Of S10,-
800, 600. Twelve years ago 1t was SILL
500, 900, q reduction Of 81, 000, 900.
New York's present debt, %insignif-
Cant when compared with it's manifold
assets, is $40, 600. 900, an increase Of 49,
500, 900 when compared with what it vas
twelve years age This increase Is due,
almost exclusively, to the canal debt,
now IS, 500, 600, authorized in 1895, and
of what remains of the increase $675, 900
is for the acquisition Of Adirondack
park lands.
The debt Of Alabama is So SOC, 900, Of
Pennsylvania $500, 900, a decrease Of
81, 200, 900 in twelve years; of South
Carolina Sc, 800, 900, of Georgia ST.
600, 900, a reduction since 1S9O$ of ST.
400, 900 and of Mississippi 81, 800, 900.
Texas has reduced it's state debt in
the same period from 81, 200, 900 to $715,-
600. Arkansa from 81, 00O, 600 to 81, Zoo
600. North Carolina from 81, 700, 900 to
Sc, 200, 900, and Maryland from $40, 000,-
600 TO $1,000, 900, partly by disposing of
it's railroad investments.
The debt of Kentucky, never large,
has been increased so per cent in twelve
years. 1t is now 81, 100, 900. Nebraska
has no state debt. Neither has West
Virginia nor New Jersey, which owed
$3.50, 900 twelve years ago.
Illinois, Iowa and Oregon have no
state debts which having matured are
payable, but they have small outstand-
ing obligations which lave either not
been presented for payment or have
not matured. These obligations amount
to SIS, 900 in the case of Illinois, $40, 900
in hat of Iowa and $1,000 in that of
Oregon.
Wisconsin owes 50, 200, 900, Michigan
$500, 900, an inconsiderable sum for so
large a state; Indiana $500, 900, against
So, 500, 900 in 1890; Vermont 1896 900, Cali
lorna So, 800, 900, Connecticut 81, zoo, 900,
Kansas $3.50, 900, Missouri S. 900, 900,
against IS, 900, 900 twelve years ago;
Montana $500, 900, Ohio $450, 900. Rhode
Island SO, $50, 900 and Maine 81, 500. 900.
The credit of all American states is
unexcelled, the rates at which they can
borrow money are low. The need of
public improvements, buildings and
waterways is often urgent, n of the
solvency of American states to pay
for these there is no question, but the
policy of all the states is to diminish,
not to increase the debts, and collect
lively the states have done so and are
doing so.