The Grenada sentinel. [volume] (Grenada, Miss.) 1868-1955, 1914-05-01
MISSISSIPPI STATE DEBT
Funds and Investments 1880 to 1913
Compiled by John Lee Coulter.

Preliminary figures from the forth
coming bulletin pertaining to national
and state Indebtedness and funds and
investments have been given out by Di-
rector w. j. Harris, of the Bureau of
Census, Department of Commerce. The
State of Mississippi, as well as for the
other states and the United States
The data was compiled under the su-
pervision of Mr.. John Lee Coulter, ex-
pert special agent in charge of the in
quiry on Wealth, Debt and Taxation.
The bulletin which will soon be is
sued, will contain statistics for each
state for each year from 1880 to 1913,
inclusive, as far as statistics are avail
able. and will also contain details for
the year most nearly correspond ~ to
1880, thus making it possible to STOW
the general movement during period
of over 80 years. The bulletin will
show the total debt of the states as
well as many details, such as the var-
Gus classes of outstanding bonds and
special debt obligations to public trust
funds. 1t will also show the floating
debt and its component parts. Under
Funds and Investments will be
shown separately all the different funds
and in each case cash and securities
will be shown. The population of the
states for each year under considera-
tion will be used and the per capita
debt Qess sinking fund assetsJ will be
given.
An inspection of the tables for Mis-
sissippi in the bulletin soon to be issued
shows that no statistics were available
for the years 1928, 1869 and 1906.
The bonded Indebtedness changed con-
stantly; S769, 600 in 1890 fell to S6O6, 600
in 1894; rose to 81, ,09l 900 in 1898, and
to Sl,507, 900 1912. The special debt
obligations to public trust funds varied
from year to year with general ten
dency to decrease; 81, 706, 900 in 1890
fell to 2,345, 900 in 1912 The floating
debt fluctuated throughout the period
covered; 5000, 900 in 1890 decreased to
Sc, 900 in 1910, but advanced to the
maximum of 5000, 900 in 1912
In the case of funds and investments
the securities were the same as the
special debt obligations to public trust
funds. The cash changed naturally
with each year, amounting in 1911 to
S572, 900, but falling to S25l, 900 in 1912.
No sinking fund assets, as such, were
recorded in any year, thus leaving the
debt (less sinking fund assets) the same
as the total debt.
Although the debt of the state in
creased during the 30-year period, the
population increased sufficiently to re-
duce the per capita indebtedness.
In 1880 the total debt of Mississippi
at the close of the fiscal year, Septem-
ber 30, was So, 324, 900; in 1899 it fell to
So, 666, 900; in 1912 it amounted to s4,-
46l, 900. The population of the state
increased from l,132.000 in 1880 to
1852, 900 in 1912, being sufficient to off
set the increased bond issues and bring
about decrease in the per capita debt.
In 1880 the per capita debt was 81 81
following the fluctuations of the debt
0ess sinking fund assets), it fell to the
minimum. Sl.75, in 1899, subsequently
advancing to 81. Al in 1912
In contrast with the state of Mssis-
sippi we find that, taking the entire
debt (less sinking fund assets) for the
As states, the per capita debt according
to the latest report is 50. 50, or 81. II
more than the per capita debt for Mis-
sissppi. Comparing the decrease ir
the per capita debt of Mississippi anc
the As states for the 30-year period, we
find that S.. As fell to 81. 81 in the aver
age for the As states, and 1924 to 81. 1
in Mississippi.
At the present time about l.9 pei
cent of the total population of the Unit
ed States will be found in the state OF
Mississippi, and l.9 per cent of the to-
tai debt Qess sinking fund assets i;
attributed to that state.