The Morris County chronicle. [volume] (Morristown, N.J.) 1877-1915, 1907-04-09
WEALTH OF THIS NATION.
Astonishing Increase Shown by a Late
Census Report.

Washington, D. C.-The total es-
innate of the valuation of the ma
tional wealth in 1904 was $107,104,-
1872, 40, according to special re-
port issued by the Census Bureau on
wealth, debt and taxation which rep
resents an increase in the four-year
period from 1900 to 1904 of $18,-
586, ,635. This advance in ma
tional wealth has no parallel in the
history of the United States except
the decade from 1850 to 1850. In
1850, when the first estimates of the
national wealth were made the fig
ures were only $7,135, 780,228.
The most potent cause for the in
crease in the nations. wealth from
1900 to 1904, it is stated, was the
reaction from the low prices. of the
period of depression from 1893 to
1896. The annual increase of wealth
per family from 1890 to 1904 was
1882.
The various forms into which the
nations wealth is divided, with their
valuations are as follows:
Real property and improve
ments taxed. 80. ....... $55, SIC, 22S, o57
Real property and improve
ments exempt. ...... 6,S3l pa $40
Live stock. ~. ........... 4,073, 1876
Farm implements and ma
chinery. ............. S44, 1856, 1868
Manufacturing machinery,
tools and implements. So; 3,297,754 $50
Gold and silver coin and
bullion. .............. 1905, 603, 1903
Railroads and their equip
menJ.... ......,...... $50. IL ,Z44, 49, UO
Street railways 80. ........ 2,2l9, $4,000
Telegraph systems ......... 227, 400, 900
Telephone systems. ..... $50, $40 900
Pullman and private cars. $4,000, 900
Shipping and canals ~ $40 ass, 1904
Privately owned water works 275 900, 900
Privately owned central cleo
trio light and power sta
tons, :. ......... SOP S51, Jos
Agricultural products. ....... 1899 1875, 652
Manufactured products ..... 7,409 POI ,663
Imported merchandise ...... 495 ,543 ,6S5
Mining products 80. ..... 408,066,7 S7
Clothing and personal adorn-
meBts. .,..:.. ....;.:... 2,5OOOoo, 900
Furniture, carriages and kin
dred property. ..,....... $3.50 000, 900
The total public Indebtedness of
the continental United States in 1902
was $2,789, 990,120, and the total
per capita Indebtedness was $3.50.
The total indebtedness of the Ma
tional Government for the same year
was $925,011, 637, and the per cap
tia Indebtedness was $11.27. The
Indebtedness of the United States
Government is it's gross indebtedness
less cash in the treasury. The total
Indebtedness of continental United
States in 1890 was $1,9S9,112,S42;
that of the National Government was
1851, 912, 1852 and the per capitas
were $31.76 and 1880 respective
ly. In 1902 the annual interest
charge on the public debt of CONT
mental United States is shown to be
approximately $115, 206,558, or an
annual payment of STAG for each in
dividual
In Great Britain the per capita in
debtedaess of all classes, national
and local, was 1893 times that of the
United States; in France, 4S6, and
in Italy, 225.
The assessed valuation of prop
erty subject to ad valorum taxation
has increased from 1850 to the pres
ent time, but it has not kept pace
with the increase in the actual ma
tional wealth. The total assessed
valuation of property in 1902 was
$35, 1888, 316,S33, while in 1890 it
was only $25, The es-
timated true value of all property in
1902 was $97,810, 40, $50, against
$65,0S7,091,197 in 1890 The total
levies of adj valorem taxes was in
1902 $724,736,539, and the tax rate
per 500 of estimated true value
$0.74
The net Indebtedness of the coun-
try was slightly less at the close than
at the beginning Of the year. In the
case of the National Government,
States and Territories, and counties,
the receipts exceeded the payments,
and at the close of the year these
governments had smaller net indebt-
edness than at the beginning. In
the case of minor civil divisions, and
especially the large cities, the situa-
ton was reversed and the payments
for expenditures exceeded the rev.
enue receipts, causing an increase in
net Indebtedness.
REFERENDTTM I'M CTEVET AND