Missouri Valley times. [volume] (Missouri Valley, Iowa) 1874-1931, 1902-10-30
DEBTS OF THE STATES.
In Last Twelve Years There Has Be
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
/ ~, a bonded debt of 5000 000, 900, and al
though other debts, municipal and
county. have been increasing largely OF
late years, state debts have, in most
4 cases, fallen off
The state which has the largest debt
4 contracted through obligations en-
tailed by the civil warts Virginia.
Which owes $24 3G3, 600 in bonded debt.
I Twelve years ago its debt was s3l 600
o00 and 1T has reduced the amount by
\ 81, eco, 600.
The financial credit OF Massachusetts
\ is SO high that it has, since 1890, been
A 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 S2S0o0.0 900 in 1890, is now $l2, 400 600,
u reduction of s15,G00.000.
The debt of Tennessee. which. next
TO Virginia. suffered most from the
lcivil war. Is now SIG 100000. Twelve
years ago 1t was Sl6.6o0,ooo 100000
more. During this period the popula-
4 ton of the state has increased u quar-
ter of a million.
100000. Twelve years ago 1T was SILL
100000. reduction Of $1,000,000.
New York's present debt, Insignia
can't when compared with Its manifold
assets, Is $l0,0oo.o0o. AN increase of So
100000 when compared with what 1T was
twelve years ago. This increase is due,
almost exclusively to the canal debt.
now ss,5oo,Oo0, authorized in 1895, and
of what remains of the increase S675, 0OC
is for the acquisition OF Adirondack
park lands
The debt of Alabama is $4,000, 900, of
Pennsylvania S7,s00,oo0, a decrease of
s4,00o0o0 In twelve years; of South
Carolina ss,S0o,o00, of Georgia ST.
100000, a reduction since 1s9O$ of 50,
100000 and of Mississippi 50, 800. 600.
Texas has reduced Its state debt III
the same period from $4,200000 to $7l5,-
600. Arkansas from s2,00O00O to 81 200.
600. North Carolina from s7,700,000 to
s6,2ooooo, and Maryland from $4,000
coo TO $500, 600, partly by disposing OF
it's railroad investments.
The debt of kentucky, never large
has been increased so per cent in twelve
years. II is now sl1oO.000. Nebraska
has no state debt. Neither has West
Virginia nor New Jersey. which owed
s250,ooo twelve years ago.
Illinois, Iowa and Oregon have M
state debts which having matured arc
iDdydDle, Dul lNey nave small OuISLdHu'
ling obligations which have either not
been presented for payment or have
not matured. These obligations amount
to $4,000 In the case of Illinois, 500
in that Of Iowa and $1,000 in that Of
Oregon.
Wisconsin owes s2.2oo,ooo, Michigan
100000, an inconsiderable sum for sc
large state: Indiana $500, 600, agains
$500, 600 in 1890; Vermont 1895, 900. Cali
lorna S2,30000O, Connecticut $1,70O,0O0
Kansas s5S000O. Missouri $5.60OOOO
against ss,eoO0oO twelve years ago
Montana 100000. Ohio s450.000. Rhode
Island SO, 250, 900 and Maine $250O,O00
The credit of all American states II
unexceled. the rates at which they car
borrow money are low. The need Of
public improvements. buildings an(
waterways is often urgent, and of tn,
solvency of American states to pay
for these there is no question. but thu
policy of all the states is to diminish
not to increase the debts. and collect
lively the states have done SO and ART
doing SO.