The Brookings register. [volume] (Brookings, Brookings County, S.D.) 1903-1971, 1914-04-23
SOUTH DAKOTA STATE DEBT


coming bulletin pertaining to nationa
and state Indebtedness and funds ant
investments have been given out by
Director w. j. Harris, of the Bureau
of the Census, Department OF Com
merce, says a Washington dispatch
The bulletin carries information fol-
the state of South Dakota, as well as
for the other states and the United
States. The data were compiled under
the supervision of Mr.. John Lee Coul'
ter. expert special agent In charge OF
the inquiry on Wealth, Debt, and Taxa
ton.
The bulletin, which will soon he
issued, will contain statistics for each
year from 1880 to 1913, inclusive, as
far as statistics are available, and
will also contain details for the year
most nearly corresponding to 1850,
thus making it possible to show the
general movement during a period of
over 80 years. The bulletin will show
the total debt of the states as many de.
tails, such as the various classes OF
outstanding bonds and special debt
obligations TO public trust funds. Ii
will also show the floating bedt 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 consideration will be used.
and the per capita debt (ess sinking
fund assets) will be given. .
An inspection of the tables for
South Dakota in the bulletin soon to
be issued shows that no statistics
were available for 1880 and 1891. The
bonds, amounting to sS60,000 in 1890,
advanced to S1,O40, 900 in 1892, but de-
clined to 1912, 900 in 1906, after which
the indebtedness disappeared alto
gether. No special debt obligations to
public trust funds were reported. The
floating debt fuctuated greatly, reach
ing the maximum amount, $3.50 600, in
1910.
In the case of funds and investments
the securities increased from $4,000
in 1892 to $40, 8 900 in 1918. The
cash changed naturally with each year,
the largest amount reported being ST.
0O2, 900 in 1912.
The sinking fund assets were small
and disappeared entirely in 1907;
hence the debt (less sinking fund
assets) did not differ materially from
the total debt.
The debt of the state fi~uctuated
greatly, but decreased during the 90
year period; the population increased
steadily, and these two conditions
brought about a marked decrease in
the per capita indebtedness.
In 1890 the total debt of South Da-
kota at the close Of the fiscal year.
June 80, was 1912 900; in 1892 it was
$1,175, 900; in 1913 it had declined to
$4,000. The population Of the state
increased from A 5000 in 1890, to 643,-
900 in 1913, being sufficient to reduce
the already declining per capita debt.
In 1890 the per capita debt was $3.50;
In 1892. following the fluctuations in
the total debt, 1t had advanced to 1929
reaching the maximum of s4.09 in
1895; subsequently declining to $O.58
In 1913.
In contrast with the state Of South
Dakota, we find that, taking the entire
debt (less si%nking-fund a~ssets) for the
4S states, the per capita debt, accord
ing to the latest report, Is S3.52, or
1924 more than the per capita debt for
South Dakota in 1913. Comparing the
decrease in the per capita debt of
South Dakota and the 48 states for the
30-year period, we find that $5.48 fell
to 1882 in the average for the 4s states
and $3.50 to $0.58 in South Dakota.
At the present time about or per
cent of the total population of the
United States will be found in the
state of South Dakota, and OF per cent
of the total debt (less sinking-fund
assets) is attributed to that state.