Year: 1874

and desolatipg struggle in which secession was
resisted and destroyed, and in which we won the
privilege of continuing to exist as the United
States of America.


But in regard to the National debt, whatever
vain regrets we may indulge over the loss of so
much treasure and the fearful sacrifice of that
which is beyond earthly price, we have this to con-
sole and comfort-that the war which gave rise to
it was unavoidable and inevitable, apparently fated
| and forecast part of the great experience of
bitterness and Of blood through which it was our
destiny as nation to pass. and that out OF its
CORY depths we have emerged regenerated peo-
pie. doing justice to race long oppressed, edu-
eating ourselves to higher standards Of liberty and
of law, and having our feet henceforth shod with


the prcpara ion of the Gospel of Peace.


Leaving the consideration of our national debt


as an obligation not within our discretion except


as to the hest and most honorable means of reduc-


ing and discharging il, invite your attention to


hose less observed but even more burdereome
| forms of obligation contracted by States, counties


cities and smaller municipalities, and contracted


oftentimes, | may add, with an extravaganza and


piodigali,y that seem to invite calamity. With


the keen watchfulness of opposing political organ
iZatons in this country, with the sharp criticism
! by press and people of all that may be done or
left undone by Congress, no oppressive increase Of
our national debt can be anticipated except under
the exigency of war-and should that come, as in
Gods good Providence l trust it never may, no
limit be assigned to the additional burden that
may be placed upon u.s. But the causes which
lead to increase of State debt and to such
vast enlargement of municipal obligation are not
so open to public observation, do not elicit the
sharp controversy and discussion which always 60
so far to insure safety in the final result and the
consequence is that many communities, before they
stop to fairly consider, find themselves laboring
under burden Of debt, which if not absolutely
discoui aging is certainly oppressive.


In rejecting on this subject you will observe at
the very outset that our form and framework
| Of Government give extraordinary opportunities
for the use of Public Credit. We have first the
| r. Il L-.u T.
| of the nation next the State Government, which
borrows on the faith of the State; next the
county, which borrows on the faith of the county;
next the city or town, which borrows on the faith
of municipal credit. Now when this whole series
of credits, four in number, are used as they so
often are, nay, used almost everywhere, the
quadruplicate burden falls heavily on the should
els of the people. The four taxes operate at last
on the same man and each piece Of property in
some way contributes its share towards satisfying
he demand. l do not think there is any other
nation in which the power to contract debt has
been extended as with u.s. in which the same
communities may be made to assume public obli-
cations in so many relations-and each one
operating for the time in a somewhat independent
sphere the tendency of each is to enlarge regard
less of the dimensions and demands of the others.
When the city is pedging its credit, it seems to
forget that a heavy debt is already upon the
county of which it forms an integral part; the
county freely incurs debt without apparently
re remembering that every estate in it is already
encumbcred by direct tax to pay the interest on


debt of the State; and the State too often makes


lavi use of its credit without pausing to reflect


that every one of its citizens is already burdened


by the tax which be is paying to liquidate the debt
of the nation. And when in the end Nation, and
| State, and County, and City have each and all
| imposed their burdens the citizen finds that while
the tax Increased fourfold the property to meet
it has not experienced a similar development and
growth. Our power in this country to cumulate
our burdens may certainly be regarded as pecu-
lsnu alvnc I QUA hot IoN
cities of Europe have debts of their own; so
have the separate cantoos of Switzerland; so
have the Departments of France for limited and
specified purposes; have the minor German
States but still it is true that county, city,
town and township facility for contracting debt
is practically unknown among the nations of
Europe. Our marvellous capacity in this regard
is the achievement of our Republican civiliza-
tion of which think we have the least occasion
| to feel proud.


There are in the United States sixteen cities
| having each population exceeding one hundred
thousand l00,000), and an aggregate population
of four and half millions a, ,5O0,0OO). Each is q
city with special advantages which cannot be
taken from it; each in the language of the day
has large future; each has abundant wealth and
still larger prospective resources. they embrace


when taken collectively, the trade Of Atlantic and
Pacific, of Gulf and Lake coasts, besides all the


great interior rivers of the Continent and the con-
verging traffic of thousands OF miles of railway
Surely one would think that each might bide its
time and patiently await its well assured prosperity
without being compelled to borrow largely, IN
some cases almost reckles.ly, of the future. And
vet taking these sixteen cities together we find
their municipal debts amount to three hundred and
fifty millions of dollars $3.50 600 ,0OO) being eighty
dollars per capita for their entire population, and
presenting in the aggregate an amount which
| prior to our war experience would have been
| con. idered a large burden for the nation. 1t


would be gross injustice, however, to leave the


inference that the average debt OF these citles -
| 1nila rtUAaa a al
city, the commercial metropolis of the nation,
presents debt en- bracing nearly one-third OF the
entire amount while several of the cities on the
list have debts of comparatively Insignificant pro-
portions.


The class of cities next in size to those just
referred to- those having each population ex-
ceedng fifty thousand (50,00O) and less than one
hundred thousand 600 000) are twelve in number
having aggregate population Of about seven
hundred and fifty thousand C5o,0oO). Their
total debt does not exceed thirty millions Of dol
lars $3.50 000, ,000t which gives about forty dollars
per capita for the whole list.


Taking the next class of cities, having each
population exceeding twenty thousand GO, ,0O0)
and less than fifty thousand, (5O,OOOl find there
are in all, some fftythree (53) in the United States
with total population of something over q mill


lion and half Their total debt cannot be less,
think, than seventy-ive millions Of dollars,
$75 900 000) or fifty dollars per capita.


Interested as have been in making these in
vestgations, included one more class within the
scope of my inquiries and took the cities and
towns throughout the United States having popu-
lations between ten and twenty thousand each-a


list which found to embrace in all one hundred
and five cities and towns whose aggregate popula-
ton amounts TO nearly fourteen hundred thou
and q 100000 and whose aggregate debt is
9one:hicg c. thirty-fve millions, (5 UO0, 900 or
about twenty-five dollars per capita for the whole.


Adding these four classes together it presents
a table which embraces the cities and towns Of
the United States having over ten thousand
100000 inhabitants each-of which there are in
all one hundred and eighty-six, OS6)-with an
aggregate population exceeding seven millions


& oG000o) and total municipal debt Of about four
hundred and ninety millions (S49O, ,OOO, ,OO0i.


The towns having less than ten thousand inhabi-


ants each have not been able 10 classify with the
approximate accuracy of those have given, but +


feel well assured that the aggregate Of these debts
would reach eighty millions of dollars (SSo. $780,
O0O)-making the total municipal debt Of the
country about five hundred and seventy millions
$3.50 0O0000l.


Added TO these municipal debts proper, we find
the county debts of the entire coun - amounting
to about one hundred and eighty
000, ,000), and the State debts TO abb


dred and ninety millions (S390,0o