The Topeka state journal., 1922-12-22
Road Work Also Seen in New
Indebtedness Authorized.
KANSAS TO PAY SIS, 900, 900
Otherwise JayhaWker State Has
No Bonded Indebtedness.
Survey of Thirteen States
Shows Illinois Tops List.
(By the Associated PressJ


es5.1I5.1e authorized Indebtedness O
thirteen middle west and northwest
states. according to reports of state
treasurers from the various states. .Oi
this amount, sIS1,7S5.115 is repre-
sented in bonds or certificates of in
debtedness already issued
Voters of Illinois. Michigan. Mis-
souri,. Kansas. Minnesota, Wisconsin
Iowa and Ohio have authorized the
payment of S2O7.I05.00O to veterans OF
the World war. a portion of which al
r1ady has been distributed. Illinois,
Michigan and Missouri have provided
for a system of good highways repre-
senting an expenditure of S115 OOO,OOO.
North Dakota, Nebraska, Indiana,
Kentucky and Oklahoma have no out
standing Indebtedness for the pay
lment of a bonus or the Improvement
of highways, altho in some. OF these
states highway Improvement funds are
obtained from the general revenue
fund by legislative appropriation
Created Since War.
q The reports reveal that the greater
part OF the ebtedness has been in
CURED since the word war The part
highways played in the prosecution
Of the war is attributed by some Of
ficials TO the increased activity in ROAD
development.
Nebraska has no state Indebtedness
but the bonded obligation OF the
countries is. S73.760,1S1. Indiana re-
ports outstanding stock certificates IN
the amount OF sos 6lS-lZ. Whlch Were
issued in 1S45-46 for canal develop
ment purposes Tho the certificates
are believed lost. this amount Is stun
carried on the books as an obHgation-
Farmer in North Dakota figured in
that states Indebtedness. the total
showing the sale of S3.67O.0O0 real
estate bonds. the money being DIS
tributed to reside ents in farm loans The
industrial commission was empowered
TO sell n further issue of S1O.OOO OOO
for this purpose by vote of the people
JuEe. last
The Indebtedness further shows a
s. 100000 Bank of North Dakota
cau-tal stock bond issue. together with
an issue OF S1.5T5.OO mill and eleva-
tor bonds and 100000 outstanding
which are known as old bonds.
Illinois Tops List.
In authorized indebtedness, Illinois
tops the LIST. with Sl33,O17,5OO, OF
which S6O.OOO.OOO is for highway inn
.rovement. $ls,OOO; 900 for waterways;
100000 for soldiers bonus and
S17.5OO of internal Improvement
bonds issued prior TO 1850, which
have never becn presented for pay
ment. But Sl7,OOO,OO0, represented in
highway Improvement . has been is
sued The original issue for water
WAYS provided for $20,O00,OO0. The
bonds have not been issued. pending
a decision on plans. and as provided
by .aW. the state treasurer has retired
=. .000. 900, at the rate of one million
annually. leaving at the present time
s $4,000. 600 for this purpose
The last five years has seen Mich
.gau's bonded Indebtedness grow
from nothing to S61, $50. 600 issued,
with a total OF sS5, 100000 authorized.
In 1917. the first issue of $4,000, 900,
known as war loan fund. was au-
Lhorized- This money was loaned
Michigan men attending officers
training camps to buy their necessary
equipment when they received their
romm sSion. If they were financially
unable to do so. The states remain
ing indebtedness is represented by |
S50- 600. 600 for highway Improvement, |
of which s2S.O5O-000 in bonds have
been sod and $4,000. 900 soldiers ]
bonus bonds. which have been mar |
5eted.
The bonded indebtedness of Mis- !
souri, is represented by 15.O0O.0O0 foy |
soldiers bonus S5,0OO.0O0 for good |
roads and 100000 for the state cap |
toll
Kansas to Pay Soldiers.
Kansas has no bonded indebted |
hess, but the legislature convenins I
leXt January will he obligated to vote /
'25. 600. 600 soldiers bonus bonds au- !
horized by the electorate at the No !
-ember election.
Certificates Of indebtedness have
AIKEN the place of bonds in Minnesota
Certificates amounting to S17315.0OO /
Ire outstanding. representing $15.7O5.-
'00 for soldiers bonus. s72O.OOO for I
.rmory construction. S65. 900 for park /
and purposes. S425,OOO for an histori- /
al building. S115.000 forest fire pur- /
,Oses. $4,000 for board of relief and !
y 10000 for university buildings.
4 surtaN on incomes is meeting the /
iayment OF Wisconsin's S2O.0OO,O00 /
Oldiers bonus The state is also re-
urnfnE s1.5OO.OOO to its school fund 4
y excess funds as they accumulate
n the treasury. The money was bor-
owed from the school fund during
he Civil war for state expenses dur 4
ng that period. A constitutional pro-
libition against a state debt in excess
f 100000 has prevented legislatures
rom authorizing expenditure subject
o future payment
The constitution of Indiana for
ids the issuance of bonds except in 1
erta5n cases to meet deficits in rev
nuei repeal invasion, suppress insur
ectfOn. provide for public defense. /
'hus far there has arisen no occasion
or mourning a bonded debt.
No bonds have been issued by Ken
Icky. its Indebtedness being repre-
ented by state warrants. payable from
axes These outstanding warrants
pproXimate s7.O0O,OOO.
Oklahoma i'm Debt.
Oklahoma has a S4.OOO,000 in
ebtedness of which S2.5O0,O geo are
eneral funding bonds and $500. 000'I
re public building funds charged /
gainst school lands Iowa is prepar-
1g to issue s22, 100000 in bonds, au
horized by popular vote. to take care
the bonus for those who served in
he world war. The bonds will be is
ued in January and will be the first
ssue since 1892.
Ohio's Indebtedness is represented
Y a 5000. 900 soldiers bonus bond
ssue, which has been practically all
sed.