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The World's Debt

The World's Debt image
Parent Issue
Day
15
Month
May
Year
1891
Copyright
Public Domain
OCR Text

' Washington Citt, May 12.- The census bureau has in courseof preparation a bulletin upon the subject of foreign, national, state and couuty iudebtedness. The iniormation conceruing the indebtedness of foreign coun tries was furnished by the proper administrativo officers of the sevral nations, at the request of the census office, for publication in the reports of the eleventh census, as preliminary to the statistics of the indebtedness of this country. Only the totals ot foreign indebtedness are herein stated, but a great amount of interesting details coacerning the dates of issue and maturity oí the several loans, the purposes aud rates for whicli they wtre issued, their present commercial value, aud the kind and value of money in whieh they were negotiated has been compiled and will be publisbed in the final reports of the eleventh census. Indebtedness of the World. The indebtedaess of the world for 1800 and 1S80, ns far as it bas besu possible to collect the data for the present bulletin, with the amount of increase or decrease, is as follows: ï'orifigu uatious, debt less sinking fund, 1890, $35,636,075,840; 1880, $23.481,572,185. The United States, 1890, $915,062,112; 1880, $1,922,517,364 States and territories, 1890, $223,107,SS3; 1880, 290,326,643. Counties in the Union- 1890, $141,950,845; 1880- $125. 105, 027. Relatively the burden of debt falls far heavier upon the inhabitants of the principal foreign countries, except those of Germany, than upon those of this country. Fer Capita of the Debtg. Prance, in 1889, had a debt per captta of $116.35, and it is understood that this does not include certain annuities of an unstated but large amount; Great Britain, though slowly decre&sing its debt, had a burden at that time of $87.7'iper capita; Kussia, $30.79; Austria-Hungary, $70.84; Italy, $76.06: Belgium, $63 10; the Netherlands, $95.56, while that of the United States was but $14.63, anJ of its indebtedness, nearly one-half was made upof noninterest bearing notes. Wiiile individual fluctuations in the amounts of indebtedness of the seventy-nine foreign nations reported have been considerable during the decade, tüe aggregated indebtedness shows relatively but little change, especially if compared with the inc;rease of population. Decrease in the United States. The public debt of the United States shows a gratifying decrease within the last ten years, the burden per capita having been reduced from $38. 33 in 1880 to 14.b3 in 1890. The iudebtedness of the tates and territories has also decreased $67,218,750 during the decade, reducing the per capita from $5.79 in 1880 to 3.56 in 1890. It should be remembered, however, that of the total decrease of state debt as reported, there has been scaled by refunding in sonie of the southern states $28,500,000. Individual State Debtg. The following table shows the individual indebtedness of the states named. The llrst and second columns give the debt - state and county - less sinking fund for 18t)0 and 1890, and the last two columns the debt, less sinking fund, per capita for the same two years: State 1880. 1890. 1880. 1890. Indiana 9,046,232 13.294,070 4.57 6.06 minois 15,627,600 12,301,287 5.08 3.19 Michigan.... 4,149,453 6,565,992 2.53 3.14 Wisoonsm. . . 4,751,303 3,825,071 3.61 2.27 lowa 3,538,008 3,648,508 2.18 1.91 Couuty licht Jucreasing. The indebtedness of the counties, though lncreasing sooiewhat within the decade, has not kept pace with the increase of population, and the per capita has been reduced from f2.47 in 18S0 to $2.27 in 1890. Aggregatint; the national, state, and county indebtedness the per capita shows a decrease f rom $46 59 in 1880 to $30.16 in 1890, or more than one-half, and this, decrease has been brought maiuly by voluntary taxes.