The true Democrat. [volume] (Bayou Sara [La.]) 1892-1928, 1914-04-18
LOUISIANA STATE DEBT, FUNDS
AND INVESTMENTS,
1880 TO 1918.

1851 ~ 1919.
Washington, D. c., April 15-Prelim-
mary figures from the forthcoming bull
letin pertaining to national and state
indebtedness and funds and invest
ments have been given out by Director
w. J. Harris, of the Bureau of the
Census, Department of Commerce. The
bulletin carries information for the
state of Louisiana, as we'll as for the
other states and the United States. The
data was compiled under the super
vision of Mr.. John Lee Coulter, expert
special agent in charge of the inquiry
on Wealth, Debt, and Taxation.
The bulletin, which will soon be is
sued, will contain statistics for each
state for each year from 1890 to 1913,
inclusive, as far as statistics are avail
able, and will also contain details for
the year most nearly corresponding to
1880, 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
well as many details, such as the vari-
Gus classes of outstanding bonds and
special debt obligations to public trust
funds. 1t will also show the floating
debt and it's 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-
ton will be used, and the per capita
debt Qess sinking fund assets) will be
given.
The bonded Indebtedness of the state
of Louisiana decreased from $13,4 O1,-
900 in 1892 to $12, 100000 in 1912, while
the special debt obligations to public
funds, amounting to $1,449,OOO, were
unchanged throughout the period COW
cred. The floating debt was large but
decreased from $1,O14,OO0 in 1892 to
$4,000 in 1912.
In the case of funds and investments
both securities and cash increased dur
ing the period. The securities increas-
ed steadily from $1,545,OOO in 1890 to
$2,577O0O in 1911, whereas the cash
reached the maximum amount, $1,41O,-
900, in 1907, falling to $9S6,O00 on De-
cember 81, 1911.
No sinking fund assets, as such,
were recorded in any year, thus leav-
ing the debt Qess sinking fund assets)
the same as the total debt The steady
increase in population and the decline
of $2,000,00O in the debt Qess sinking
fund assets) brought about a marked
reduction in the per capita debt during
the 20-year period
In 1880 the total debt of Louisiana
at the close of the fiscal year, March
l, was 23,498,000; in 1892 it was $751;
$4,000; and $13.6S6,OOO in 1912. The
population of the state increased from
100000 in 1880 to 1,71S,00O in 1912;
this, together with the decrease in the
total Indebtedness, caused a marked
decline in the per capita debt In 1880
the per capita debt was $2494; in 1892
it was 1882; in 1912 the amount had
fallen to $797.
In contrast with the state of Louisi-
ana we find that, taking the entire
debt Qess sinking fund assets) for the
4S states, the per capita debt, accord
ing to the latest report, is 1882, or
less than one-half the per capita debt
for Louisiana. Comparing the decrease
in the per capita debt of Louisiana and
the average for the 48 states for the
30-year period, we find the ratio ap-
proximately twice as great for Louis
lana; the $5.4S falling to 1882 in the
average for the 4S states, and $24.94
to $7.97 in the average for Louisiana.
At the present time about 1.8 per
cent of the total population of the
United States will be found in the
state of Louisiana, and 4 per cent of
the total debt Qess sinking fund as
Sets) is attributed to that state.