Our Public Debts [pp. 205-222]

O UR PUBLIC DEB TS.
United States from this period to the present time may be seen
from the following table, which I have carefully prepared from
original sources:
STATES. I842. I852.
NewEngland! $7, I58,274 $6,862,265
Middle..... 73,348,072 79,5 IO, 726
Southern.... 73,340,0I7 64,499,726
Western.... 59,931,553 42,993, I85
Pacific.................. 2,159,403
Paii.............21940.........417,0 4,4738
Total... $213,777,9i6 $196,025,305
The aggregate of the State debts to-day only exceeds by
about thirty-seven million dollars the aggregate of the same
class of indebtedness forty years ago. The table also shows
a decrease of over one hundred and two million dollars, o
of nearly twenty nine per cent, sirice I870. Unhappily this
has not been all paid, and, while some of the States have honestly reduced their debts, we have had of late years too many
painful examples of State repudiation and dishonor to see any
cause for congratulation in this decrease of State indebtedness.
The dearth of statistics renders it impossible to make a similar comparison to the above in county, city, town, township,
and school-district indebtedness. Few who have not made the
attempt could appreciate the difficulties that beset one on every
side in the preparation of the little table on State debts; and to
attempt a like presentation of local indebtedness would simply
be impossible. The first systematic attempt to collect this class
of statistics was made by Francis A. Walker, Superintendent of
the United States Census in I870. The result was not in any
way satisfactory to that eminent statistician. The Census Office
had no power to deal directly with the officers of counties, municipalities, townships, school districts, and other local debtcreating boards, and hence he was obliged to accept the returns
as sent in by the United States marshals. There was no means
of ascertaining the actual indebtedness of any particular city,
town, village, or township, nor of the total indebtedness of the
school districts. The items were all aggregated under the several headings "County Debt" and "City, Town, and Village
2I][
:E86o.
$7,398,o6o
86,4i6,045
93,046,934
49,395,325
............
11870
$50,348,550
79,834,48I
I 74,486,45 2
44,OI8,9II
4,I78,504
3,880.
$49,969,514
45,672,575
II3,967,243
36,565,36o
4,547,389
$236,256,364 $352,866,898
$250,722,08I