The Hartford herald. [volume] (Hartford, Ky.) 1875-1926, 1914-04-15
BIG INCREASE IN
PER CAPITA DEBT
OF the State Of Kentucky
Is Shown
BY REGENT CENSUS BULLETIN
II Has Increased Two Hun
dred Per Cent. From
1880 to 1913.
1T is NOW RATED At S1.0O

Washington, April 11.-Prelim-
mary figures from a bulletin soon
to be issued by the Bureau of Cen
sus pertaining to the debt, funds
and Investments of the State of Ken
lucky from 1880 to 1913 were made
public by the Department of Com.
merde.
1t shows that the per capita in
debtedness in Kentucky increased
nearly 200 per cent. from 1880 to
1913.
The report says in part:
Although the population of the
State increased steadily during the
period of thirty years, the ratio OF
increase was not sufficient to Offset
the marked increase in the debt less
sinking fund assets. hence the debt
per capita advanced 200 per cent.
from $50 to 1913.
I'm 1880 the total debt of Ken
lucky at the close of the fiscal year
June 80, was $1,S63, 900; in 1891 it
was $2,562 900: in 1913 it had adj
vanced to $4,452,000. The popula-
tion of the State increased from |. :
| $4,000 in 1880 to 2,336,000 in
1913; the average increase of 21,-
900 in population was not sufficient
| to appreciably affect the average in
crease of 100000 in the total debt
| less sinking fund assets. hence the
continued increase in the debt per
capita
In 1880 the debt per capita was
S0.66 in | S91 it was $09S; in 1913
it had risen to 100, this being the
largest amount recorded for any
year during the period discussed.
''ln contrast with the State of
Kentucky, we find that. taking the
entire debt (less sinking fund as
sets) for the forty-eight States. the
per capita. according to the latest
report, lis $3.52, or $1.62 more than
the per capita debt for Kentucky.
However, ii must be noted that
while the per capita debt of Ken
lucky increased from S0.66 in 1880
to Sl90 in 1913, the per capita debt
for the total of the forty-eight States
fell from SEAS to 1882 during the
| same period
AT the present time about "a
per cent. of the total population of
the United States will be found in
the State of Kentucky. and 1.3 per
fund assets is attributed to that
State
States Debt Analysed.
Frankfort. Ky. April il.-Assis-
tant State Auditor G.. b. Likens this
morning. when his attention was
called to a Washington dispatch con-
tanning preliminary figures of the
census report of Kentucky's indebt-
edness, said that. without the data
on which the Census Department
based its statement that the total in
debtedness of Kentucky i'm 1913 was
$4,452,000, he could not verify the
statement.
He said the outstanding warrants
when the fiscal year ended June 80,
1913. amounted to sl.799.943.2s.
In addition to this there Is bond
ed Indebtedness for the benefit of
schools, in which the States bond
was given as perpetual obligation
to pay annually to the schools 6 per
cent. interest on the amount. These
bonds are $4,000 for the State
University and the Colored Normal;
1881. 9s6.0S county bonds issued
January /. 1888; $1,327,O00 issued
by the State January /, 1870, and
s606,64l issued May ~, 1892. Then
there are S6,394 of miscellaneous
script and bonds, which have been
carried ON the books for years. and
probably have been lost and never
will be presented for redemption
These added to the deficit of sl,-
799. 943.2S. represented by the out
standing warrants, total s4,2S6, 964.-
80. The auditors annual report
shows the sinking fund balance of
June 30. 1913, to be sl0.So6.57. in
stead of $4,000 and $4,000 of the
sinking fund had been loaned to the
expenditure fund, The reduction in
the amount of the sinking fund from