Omaha daily bee., 1902-10-05
DEBTS OF THE STATES.
General Reduction I'm Obligations in
the Last Twelve Years.

Generai Reduction In Obligations in
he Last Twelve Years.
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-hve states have, collectively, a
bonded debt Of 5000, 900. 900, and although
ether debts, municipal and county, have
been increasing largely Of late years, state
debts have. in most cases. fallen OF.
The state which has the largest debt
contracted through obligations entailed by
the civil warts Virginia, which owes s24. :
1853. 900 in bonded debt. Twelve years ago
its debt was SS1, zoo, 900 and It has reduced
the amount by 81, 900, 900.
The financial debt OF Massachusetts, ia SO
high that II has, since 1890, been pledged 10
sundry towns for local liabilities, the pay-
ment Of the bonds issued for which Is pro-
vided for by direct taxation. The actual
state debt, which was s2S. 900, 900 in 1880. Is
now 81, 40o, 900. q reduction OF SIS, 900. 900.
The debt OF Tennessee, which, next to
Virginia, suffered most from the civil war
Is now SIG. 900. Twelve years ago It was
SIS. 6oo,O 600. 34oe, 900 more. During this period
the population OF the state has increased a
quarter OF a million.
Louisiana has a state debt Of $40, 800. 900.
twelve years ago 1t was 81, 500. 900. a re-
duction OF $1,000, 900.
New York's present debt, insIRniacant
when compared with It's manifold assets. "a
$40, OOO. 900, an increase of 50. 500. 900 com
pared with what 1t was twelve years ago.
This increase Is due. almost exclusively. To
the canal debt. now $500. 900. authorized in
1895, and Of what remains OF the increase
s676.0O is for the acquisition Of Adirondack
park lands.
The debt Of Alabama Is $500. 900. Of
Pennsylvania $LsO0.00O. q decrease Of
1000, 900 in twelve years; Of South Caro-
lima Ss.S0O,O0o. Of Georgia 8 $500, 900, a re-
duction since 1880 Of t2.400.O 900. and Mis-
sissippi 50, 800, 900. d,
Texas has reduced its state debt in the
same period from $4,000, 900 to 3715. 900.
Arkansas from $4,000. 900 to, 81. 200. OOO.
North Carolina from 81, 700, 900 to Sc, 200. 900
and Maryland from $40. 600. 900 to 81. SOC, 900.
partly by disposing Of its railroad invest
ments.
The debt Of Kentucky. never large, has
been increased 80 per cent in twelve years.
II is now 81. 1O0. 900. Nebraska has no state
debt; neither has West Virginia nor New
Jersey. which owed 81. 1850. 900 twelve years
ago.
Illinois. Iowa and Oregon have no state
debts. which having mAtured are payable.
but they have small outstanding obliga-
tions which have either not been presented
for payment or have not matured. These
obligations amount to SIS 900 in the case
OF Illinois. $4,000 in that Of Iowa, and
81, 900 in that OF Oregon.
Wisconsin owes 1920. 900. Michigan
$500 900. an inconsiderable sum for so large
a state. Indiana 8 $780, 900 against IS. 500, 900
In 1880. Vermont 1895 900, California 81, 800
900, Connection 81, 700. 900. Kansas $3.50. 900.
Missouri 81. 800. 900 against IS, 500, 900 twelve
years ago. Montana $500. 900. Ohio $3.50. 900,
Rhode Island $3.50. 900 and Maine S2,6OO,-
900.
The credit Of all American states is
unexcelled, the rates at which they can
borrow money are low. TIL need Of public
improvements. buildings and waterways
Is often urgent, and Of the s~olveney OF
American states to pay for these there is
no question:; but the policy OF the states
is TO diminish, not to increase the debts,
and collectively the states have done SO
aAd are doing So