Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1902-12-17
DEBTS OF THE STATES.
A General Reduction in Their Obligations
in tho Last Twelve Years.

| a General NeductlOn 1n lHelr outE"'ioho
in tho Last Twelve Years.
Remarkably healthy and creditable
is the showing made by the states in
their general reduction of the debts
incurred for public purposes.
The IS states have, collectively, a
bonded debt of $2O0,OOO,OcO, and al
though 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 en-
tailed by the civil warts Virginia.
which owes 24,363, 900 in bonded debt.
Twelve years ago its debt was S31 ,O0o,-
600, and it mas reduced the amount by
,$7,0G0,O0O. ~
The financial credit of Massachusetts,
is so high that it has, since 1890, been
pledged 10 sundry towns for local la
bilities. the payment of the bonds is
sued for which is provided for by dl-
rect taxation. The act7lal state debt,
which was SOS 100000 in 1890. is now
$12,4CO,GOO, a reduction of 100000,
The debt of Tennessee, which, next
to Virginia, suffered most from the
civil war, is now s16,200,O0 Twelve
years ago it was $16,000,000, 100000
more. During this period the popula-
tion Of the state has increased quar-
ter of a million.
Louisiana has a state debt Of SlO,-
100000. Twelve years ago it was SILL
500 0,OOC, a reduction of S1,000,0OO.
New Yorks present debt, insignifi-
cant when compared with its manifold
assets, is $1O,O0O,000,. an increase OF
s3,5OO,OOO compared with what it was
12 years ago. This increase is due, al
most exclusively, to the canal debt,
now $S,SO0,G00, authorized in 1895, and
of what remains of the increase $685.
900 is for the acquisition of Adiron-
dack park lands.
The debt of Alabama is s9,5OO,0OO. OF
Pennsylvania $7,SOO,OO0, decrease OF
s4,OOe;OOo in.12 years; of South Caro-
lima s6,se0, ,000. Of Gof ,z16,
?of Mississippi $500, ,00o. A -
Texas has reduced its state debt IN
the same period from s4,2Oo,0O0 to
S715, 900, Arkansas from S2,OOO,OOO to
$1,000, ,OC0, North Carolina from ST.
100000 to S6,20O,O0O and Maryland from
$4,000, 900 TO $2,6O0,OO0, partly by dis
posing of its railroad investments.
The debt of Kentucky, never large,
has been increased 80 percent in IL
years 1t is now S1,1OO,OO0. Nebraska
has no state debt. Neither has West
Virginia nor New Jersey, which owed
S1,25000O IL years ago.
Illinois, Iowa and Oregon have no
state debts which having matured are
payable, but they have small outstand-
:ngs obligations which have either not
been presented for payment or have
not maturcd. These obligations
amount 10 $4,000 in the case OF llli-
nois, $4,000 in that of Iowa and ST.
00C in that of Oregon.
Wisconsin owes $2,2o00OO, Michigan
s40O 600 an inconsiderable sum for so
large a state, Indiana s3,SOO,0OO against
So. 500 900 in 1900, Vermont $685., 900,
California S2;3OO,O0O, Connecticut ST.
100000, Kansas S5SOOOO, Missouri s5,-
100000, against sS,6OO,oOO IL years
ago. Montana 100000, Ohio s45O,OO0,
Rhode Island $3,250,OOO and Maine ST.
100000.
The credit of all American states Is
unexcelled, the rates at which they can
borrow money are low. The need OF
public Improvements, buildings ana
waterways is often urgent, and 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 collec-
lively the states have cone so and are
doing so.-New York Sun.