The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1914-07-28
Per Capita Of State Bonds Is
Only IA Cents.
While General Average for
States Is $3.50.
GOVERNMENT OWES MOST
National Bonded Debt Averages
S1O.58 per Citizen.
Burden Is Far Lighter Than
40 Years Ago.

Washington, d. c., July 2S.-Ine
fu1l report on national and state IN
debtedness and funds and investments
from 1870 to 1913 has just been issued
by Director william J. Harris, OF the
bureau Of the census. department. OF
nation for the United States as
whole and for each state separately
and il is now ready for distribution. .
According to this bulletin, the totaI
debt of the forty-eight state govern
ments on June 80, 1913, amounted 10
$422,796,525. OF this total, $4oS'Soo.
569 represented funded debt, ana
S19.429.966 represented floating debt
OF the funded debt. 1854. ,421 are
represented in bonds and $38, 1880, lAz
are special debt obligations to pubic
trust funds.
As an offsc.ting item against this
total debt, the forty-eight states re-
assets, leaving their debt Qess sinking
fund assets) $345,942,305. The per
capita debt for the forty-eight states
amounted to 1857 on June 80, 1913.
United States Owes the Most
In contrast with the debt OF the
forty-eight state governments, the ma
tional government had total debt on
June 80, 1913, Of $2.916.204,914. or
this total, the funded debt amounted
90 W. u w
debt amounted to $375,6S1,5S5. OF
the funded debt, the bonded indebted
ness amounted to $967, 1856, 100, while
the special debt obligations amounted
to $1,573,157,169. The sinking fund
assets, or cash in the United States
treasury available for the payment OF
debt, consisting of accumulated trust
funds, gold nd silver and general
treasury cash, not only were sufficient
to eliminate entirely the special debt
obligations, but also to reduce the
bonded debt. The national debt. less
cash in the t iasury available for the
payment of debt, amounted to only
$1,02s.564.055, or per capita debt OF
$1O.59.
The net debt Of the national gov
eminent represents three times the
total net debt Of tho state govern
ments. OF the total per capita deb
Of $14.15 Irrational and state), the
debt Of the national government II
$10.6S, or Is per cent, while the deb
Of the state governments amounts t
1857, or 25 per cent of the total.
History OF National Debt.
The debt Of the national government
was higher in 1870 than at any time
since that date; the per capita deb
that year being $60.46. This amount
though large, was material decrease
over the debt as 1t stood August 81
1865. On that date the indebtedness!
Of the national government (less fund
available for the payment Of debt,
amounted to ,766,431,571, an aver
age of 1914 for every inhabitant O.
the country.
The rate Of decrease between 1856!
and 1870 was continued until in 1881
the indebtedness OF the national gov
eminent had decreased so that, to-
gether with the rapid increase in tn,
population, the per capita debt hat
been reduced to only $38.27. Tel
years later (189O) 1t had been reduced
to $3.50, at which point it remained
with only CO. paratively slight fiuctu
atoms, increasing somewhat during
the Standardization war and de
creasing somewhat since that date
until. at the latest date reported
(1913), the Indebtedness Of the ma
tional government amounts to onl,
$10.59 per capita, an amount slight,
higher than in 1907, when tho De
capita Indebtedness was $1O.05, tn
lowest recorded.
Per Capita Falls Low.
No data are available to show tn
debt Of the 4S state governments, or tn
territory from which they have bee
formed. in 1866. but in 1870 the indebted
ness Of the state governments, les
sinking fund assets, was 1852 86s, 6SS. O
$9.15 per capita
The indebtedness Of the state govern
ments decreased IN somewhat the sam