The sun. [volume] (New York [N.Y.]) 1833-1916, 1913-06-03

ever. II caught the Infection ~ eN-
| travagance typical Of these sp"ndthrfi
times some ten years later. when an
issue Of si0l.O00.OO0 canal bonds was
authorized. Additional authorizations
followed rapidly. n notable addition to
the taxpayers burdens being two an
thorizatious of $50, 900, 900 eaGh. or
500. 900 900 in all. for h.chwaS i'm
provements. Within siN wears the gross
funded deb, of the state has grown
from SI0.63O. $50 to SiO?,1 eco. a.
which II stands ~ present Bonds
authorized but unissued. amounting to
SIZE. 800, 900. will raise the gross obl-
cations Of the State c>cntually To
$232. 300 900. should Sta'e bonds aeain
become readily salahl-.
Pour out uishwa, Bo"d>.
What Is true of the Sta'- ana he
city Of New York in the matter of eN-
cessive borrowing and heavy Interest
payments is true of many other com
munlties. In particular highway bonds
are pouring out IN many parts Of the
country In large Volume. There are no
more eNtravagant expenditures in the
country than those arising from high
way construction. for tho automobile
speedily destroys the ROADWAY. ana they
are not the proper basis for a bond is
sue calling for interest charges for
half century. In 1912 municipal hor-
rnwings in the United States for per
manent improvements amounted to
s"s''i'o>-N III aodl''"n NaSi 'nd'"'-
edneSs OF temporarN character was
created whi'h brought up the total 90
heSo'ia'!onS ior 'he year 10 me sum "'
*o".+V2'oS' Funded "pHeat!ohs ar"
mounting everywhere ana the necessary
interest charges tnrid"n' 10 them are
bearing h"aNiIN upon the taxpayers IN
many instances. a. is illustrated 10y me
CITY or New A"rN' the expanding IN
debtedncss Is having serious erect
upon real estate values.
Some idea OF the manner IA "a.ch
municipal indebtedness has grown may
he gained from figures taken from the
Federal census. They show an increase
in per capita Indebtedness in New York
city between 1908 and 1910 from slO"''
to Sl3,G6 1t now stands at <ltoi2
During the seven years the per capita
deb, OF -,her important munioipa liti"s
Philadelphia s3'03 10 SIS.16 Ba a.tl-
more &40.3 10 S11.S4. Cleveland. S@t.3
to s6s3S. San Francisco ,due 10 tho
earthquake and tre' $l.i> /" S3sol
Pittsburg. s562l TO ssl.33: cincinnati.
sS6.4s 10 $l40: Boston. Sl0S.3l &" $40 -.
and Chicago. s.7.99 to S30.5,
Canada has closely initiated the United
states III 'he "N'r"Nak""'e W '''''''' 'i'''
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,. oo1ur,,d In his country They
,. - g,,..r On .x..,s,v, MAJ. of
,radi, ,ha, ord,r h,uls.rs hav. he.
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sue !" ',u"''V
e'"u"n anu Wv" '"' ',
au,h"r'|e" loa,i ~ f'-'"Vo -" P"'
Hc't'' anu hau.t, ''''' F'"'V'V '''
gymnasium ne iec"i"S "'S' ''>'
many instances Oh a""u''" '"''''''"'-
tles pondlhh 'heHiStN"S i"' '''o'' J."
s25'ooo ior "c''y storehouS's o' l" al"
brush factories, "arre' lacl"''S' S""'.
manufacturers anu a WA" variety "i
other enterprises
"I.oan 10 n Local Party"
~ ~ ,,o ,,i,,,,v pich,n,j t,t,
,,,, ,'', a. oon I'D, ,,, 90, l,.,, -, .,
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