Our Public Debts [pp. 205-222]

THE PRINCETON REVIEW.
In the dates of issue the careful student can trace the history
of local indebtedness in the United States for the past twenty
years. Periods of extravagance can easily be discerned, and
with equal clearness one can see how long the day of payment
has been deferred-nearly one third of the amount not payable
until the present century has been. numbered among its timeworn predecessors. The years I872 and I874 seem to have been
the most prolific of city debts. After I874 a slight decrease is
noted, which continues until I878. However, in I879 an increase set in which more than likely extended to I88o; but
as a large proportion of the reports from which these returns
were tabulated were for fiscal years ending in the first months
of I88o, it is not at all likely the $6,ooo,ooo represents a sixth
part of the bonds issued in the year I88o. The detail table of
these dates of issue and of maturity will be of great interest:
Amounts maturing in the Years named.
specified............. $I2,979,602
30....................... 26,588,405
8I................... i..... 6,932,35I
32....................... I5,732,079
33........................ I5,OO00I,529
34........................23,o96,679
35........................ I6,067,709
36........................ 22,642,9I5
37........................25,798,435
38...................... I9,055,74I
39................... I8,8I4,758
3 90.................... 29,248,621
I.......................................... 25,659,648
82........................35,3io,640
83................... I.....9, I96,933
4................... 27,975,47I
5 -................... 8.. 26,26I,087
86........................24,052, Io08
77 e-ax3-7 17I.................. 3,912,456
38................... 1.....5,907,734
9................... 24,366,428
)o.................. 26,436,I32
bsequent to I9O00...... 20I,058,999
Total.................$682,096,460
The debts of small municipalities, amounting to fifty-five
million dollars, and of school districts aggregating nearly nineteen millions, it is fair to presume are distributed equally in the
220
Amounts issued in the Years named.
Previous to i86o
i86o...................
i86i...................
i862...................
i863...................
i864...................
i865...................
i866...................
i868...................
i869...................
I870...................
I87I...................
I873...................
1874..................
1875...................
I876...................
I877..................
i878...................
I879...................
i88o...................
Unspecified............
$5I,222,558
3,698,8I5
6,176,039
5,529,375
5,832,302
2i,803,5I5
I5,335,OI2
8,995,092
i8,622,967
29,388,76o
27,OI4,468
47,375,36i
54,OI8,592
62,o64,355
44,338,682
62,42I,466
52,453,742
28,873,539
30,947, IS 7
24,021,688
45,435,IO5
6,038, I45
30,489,695
Un
I88
is
I8
188
I8
I8
is
i8
I8
I8
I8
I8
I8
i8
18
i8
I8
i8
is
I8
ig
Su
Total............. - $682,o96,46o