Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1914-04-20
v|RG|N'|A's' DEBT III.
SLOWLY REDUCED.
Pei iCapita Now $l0.46
According to Census
Bureau.
S21.66 IN YEAR OF 1880.
Average Debt of All States in the
Country is Only So 50 Per Capita
Now. E.xlMYn

Richmond, Va, April 20.-Virginia
has reduced its per capita state debt
from s21.66 in 1880 to $40 46 in 1912,
according to a preliminary bulletin
issued yesterday by the United
States Bureau of the Census. The de-
crease has been caused, both by the
actual reduction of the debt and by the
increase in population of the State.
The average per dalpita debt for the
forty eight states of the Union IS $362
or $6.49 per capita less than the pres
ent per dapita tebt of Virginia.
The bulletin carries infohration for
the State of Virginia as well as for the
other States of the Unite1 States.
An inspection of the tables for Vir-
ginia shows a staaiiily decreasing
lbondelD Indebtedness, $31,245,00 in
1890 falling to s22,O95,OOO in 1912.
The special debt obligations to public
trust funds increased from $561 900
in 1890 to $2,460,00O in 1892, and this
amount rdrained approximately un-
changed throughout the period cover
ed. The floating debt amounted to
:$S, S,397,O0 in 1890; decreasing to
9,387, 900 in 1891; in 1898, it fell to
$2,722, 2,00O, and contiauei to decrease
until 1912, then only $4,000 was out
stam5ing. =.
In the case of. funds and invest
ments the securities fluctuatcd great
ly, though the general tendency was
to decrease; $S,S6,O00 in 1S9 falling
to SS,OOS,OO0 in 1912. The cash chang
ed naturally from year to year; the
maximum amount, Sl,430,000, was re-
corded in 1892; and the minimum,
$4,000, in 1910.
The sinking fund assets decreased
from $5,172,O00 in 1890 to $2,612,0O0
in 1912, but remained sufficiently large
during the entire peridi to make the
debt (less sinking fund assetS) appre-
ciably less than the total Gebt.
There was marked decrease in the
debt during the 36 year period, and
the population increased steadily, the
two movements combining to bring
about a noted decline in the per capita
debt. In 1880 the totha debt of Fir-
ginia at the close of the fiscal year,
September 30 was $34,811, 900; in
+; 1890 it was s4O,159,OOO; in 1893 it
fell to S30,34O,000 and cotinued teo
decline thereafter until in 1912 the
total amount outstanding was s24,-
655,OQO. The population of the
state increased from 1,513,00O in 1880
to 100000, in 1912, being sufficient
to still further lower an already de
creasing per capita debt. In 1880 the
per capita debt was $21 ,66, and in 1912
it had been reduced to Sl0.46.
, In contrast with the State Of Vir-
ginia, the bulletin shows that, taking
1.-THE entire $'ebt (less sinking fund as
sets) for the 48 states, the pencaplta
S'ebt, according to the latest report,
is 1882, or $6.94 less than the per
capita debt for Virginia Cd14para-
| ing the decrease in the per capita debt
of Virginia for the 48 states for the
3O-year period, the decrease for Vfr-
GINA was 50 per cent, while that Tor
the 48 states was 36 per cent; S5.4S
falling to S3.52 in the average for the
4s states, and $2166 to $40 46 in Vir-
ginia. ~;
At the present time about % per
cent of the total population of the
United States will be found in the
State of Virginia, and 6.5 per cent
of the total debt Cess sinking fund
assets) is attributed to this state. 1t
should be noted, however, that III the
settlement of the virginia debt, one
third was set apart as the share be-
longing to West Virginia, but the
Lstter refuse3 to assume its proper
! ton. In March, 1911, the Supreme
Court of the United States helS that
State liable for a principal debt OF
S7,lS2,507, and left the question OF
interest for adjustment between the
| parties. This has not been accom-
'plished. s..