Newark evening star and Newark advertiser. [volume] (Newark, N.J.) 1909-1916, 1914-04-13
PER CAPITA DEBT
OF STATE LOWEST
New Jersey Has Made Record
of Clearing Off Obligations
Snce 1880.

WASHINGTON, April u. = Pre-
! liminary figures from the forthcom-
| ing bulletin pertaining to national
and State Indebtedness and funds and
investments have been given out by
| Director w. j. Harris, of the Bureau
of the Census, Department of Conn
merce. The bulletin carries Informal
ton for the State of New Jersey. as
well as for the other States and the
United States.
The bulletin will contain statistics
for each State for each year from
1890 to 1913, inclusive. and will also
contain details for the year most
nearly corresponding to 1880, thus
making it possible to show the gem
eral movement during a period OF
over thirty years. The bulletin will
show the total debt of the States as
well as many details, such as the
| various classes of outstanding bonds
end special debt obligations to pub
j lie trust funds. 1t will also show
the floating debt and its component
parts. Under Funds and Invest
ments" will be shown separately all
the different funds, and in eacn case
cash and securities WIN De SHOWN.
| The population of the States for
each year under consideration VIII
BE- used and the per capita debt 0ess
sinking fund assets) will be given.
New Jersey In Bulletin.
An inspection of the tables for New
Jersey, in the bulletin soon to be
issued. shows outstanding bonds
amounting to 81 100000 in 1890, the
issue decreasing to 1000 in 1893 and
disappearing altogether in 1902. NO
special debt obligations were reported
until 1895. $32, 900 in this year increas-
ing TO $4,000 in 1902; this amount
was unchanged during the remainder
of the period. A floating debt OF
100000 was recorded in 1871, dlsap-
pearing in 1891; in 1902 again a float
ing debt of s667,00O appeared, this
amount decreasing to s526,OoO in l9lz'
Total New Jersey Debt.
In the case of funds and invest.
ments the securities increased steadily
from $4,042. 600 in 1899 to So 900 in
1912, while the cash shows a much
more marked advance. the amount of
/ increase being $6.971, 900 between 1899
and 1912.
The sinking fund assets fell from
$3.50 900 in 1899 to $4,000 in 1892, and
disappeared altogether in 1923. The
debt Cess sinking fund assets) was
apprecaby less than the total debt
from 1890 to 1897; from 1898 to 1901,
inclusive the sinking fund assets ex-
ceeded the debt; from 1903 to 1912 the
debt uess sinking fund assets, was
the same as the total debt. The
fluctuations in the debt Qess the sink
ing fund assets were reflected in the
per capita debt, which, however, was
greatly reduced by the marked in
crease in population.
In 1880 the total debt of New Jersey
at the close of the fiscal year, October
81. was $2,096.000; in 1890 it was 81 1885,
goo; it fell to $119 900 in 1899, but in
1912 had increased to $642, 900. The
population of the State increased
from 1.131, 900 i'm 1880 to 26S3,0 In
1912. being sufficient to offset the in
creased debt and bring about a de-
crease in the per capita debt. In 1880
the per capita debt was $057; in 1897
ii was reduced to $0.05; from 1898 to
1901 the sinking fund assets exceeded
the debt; in 1902 a per capita debt OF
5000 was recorded; and in 1912 the
amount had fallen to 1924.
In contrast with the State of rNe~Tef-
sey taking the entire debt (less sinking
fund assets for the 48 States, the per
capita debt. according to the latest
report. is $3.52, or 1928 more than the
per capita debt for New Jersey. Com
pairing the decrease in the per capita
debt of New Jersey and the As State1,
foI the 3D-year period, we find the
ratio for New Jersey one and one
half times as great as that for the
as States, the s54s falling to 1852 in
the average for the AZ States, and
s0.57 to 1924 in New Jersey.
At the present time about 2.S per
cent. of the total population of the
United States will be found In the
State OF New Jersey and only OF per
cent. of the total debt 0ess sinking
fund assets) is attributed to that
State