%x-w.'SSSiKa: CORNELL UNIVERSITY LIBRARY p/ .■fisM^f'" M}:' Cornell University Library HJ8101 .A3 National and state indebtedness and fund 3 1924 030 228 054 olin Overs DATE DUE Cornell University Library The original of this book is in the Cornell University Library. There are no known copyright restrictions in the United States on the use of the text. http://www.archive.org/details/cu31924030228054 DEPARTMENT OF COMMERCE 14^' BUREAU OF THE CENSUS WM. J. HARRIS, Director NATIONAL AND STATE INDEBTEDNESS AND FUNDS AND INVESTMENTS 1870-1913 PREPARED UNDER THE SUPERVISION OF JOHN LEE COULTER EXPERT SPECIAL AGENT IN CHARGE OF WEALTH, DEBT, AND TAXATION WASHINGTON GOVERNMENT PRINTING OFFICE 1914 ^.^'^o(f' (t CONTENTS. Page. iNTRODUCTlONf '. 9, 10 Scope of the full report 9 Scope of this bulletin 9 Fiscal years and period of time covered 9 General summary, June 30, 1913 9 Table 1 9 Historical summary: 1870 to 1913 10 Table 2 10 Indebtedness of the National Government 11-16 Character of the national debt 11 Bonds : 11 11 11 11 12 12 12 14 16 16 Debt bearing no interest Certificates and notes issued on deposit of coin, legal tender notes, and bullion . Cash in the Treasury available for payment of debt Historical summary: 1870 to 1913 Table 3 Debt of the National Government: 1894 to 1913 Table 4 Distribution of population and debt of National Government among states, June 30, 1913. Tables Indebtedness of the states: Summary by states 17,18 General summary, by states, June 30, 1913 17 Table 6 17 Historical summary for the 48 states: 1870 to 1913 Table 7 ". Indebtedness op the individtjal states Classes of indebtedness General treasury cash and assets of productive funds. Text and table for — Alabama Arizona Arkansas California . . . Colorado Connecticut Delaware . . . Florida Georgia Idaho Illinois Indiana Iowa Kansas Kentucky. .. Louisiana Page. 20 21 22 23 24 25 26 28 29 30 31 32 34 35 36 37 Maine Maryland Massachusetts . . . Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina.. North Dakota... 38 40 41 44 45 46 47 49 50 51 52 53 54 55 57 58 Ohio Oklahoma Oregon Pennsylvania . . Rhode Island . . South Carolina. South Dakota . . Tennessee Texas Utah Vermont Virginia Washington West Virginia.. Wisconsin Wyoming 18 18 19-77 19 19 59 60 61 62 63 65 66 67 68 69 71 72 73 74 75 76 GENERAL TABLE. Table I. — Detailed exhibit of indebtedness, general treasury cash, and the assets of productive funds of states: 1893 to 1913.... 80-203 (3) LETTER OF TRANSMITTAL. DEPARTMENT OP COMMERCE, Bureau of the Census, Washington, D. C, June 1, 1914- Sir: I have the honor to transmit herewith a prehminary bulletin containing data pertaining to the indebtedness and the productive funds and investments of the National Government and the 48 state governments of the United States. All data available are given in detail for a 20-year period from 1893-94 to 1912-13, while summaries are presented giving data for the years 1870, 1880, and 1890. This bulletin has been prepared in connection with the deceimial investigation pertaining to "pubHc indebtedness, valuations, taxation, and expenditures," authorized by the permanent census act. Between 1902 and 1907 an investigation relating to the year 1902-3 was made under authority of this act. In view of the fact that the great body of data contained in the report based upon that inquiry covered, for the various governmental units, the period of one fiscal year closing at some time between July 1, 1902, and June 30, 1903, it seemed wise to make the investigation now in progress for the fiscal year ending between July 1, 1912, and June 30, 1913. In connection with the decennial investigation pertaining to 1902-3, the general results were not pubhshed until the entire investigation had been completed, in 1907. It is beUeved advisable, in connection with this investigation, to pubUsh the results in the form of bulletins as rapidly as separate divisions of the investigation are completed, believing that in this way the pubUc may have full information from two to three years earher than was possible at the time of the last investigation on this subject. The contents of this bulletin will be consolidated with other bulletins now in course of preparation bearing upon the same general investigation, and pubUshed as the finished report pertaining to Wealth, Debt, and Taxation. The collection and compilation of the statistics of national and state indebtedness and productive funds and investments have been under the supervision of John Lee Coulter, expert special agent in charge of the investigation, and Arthur J. Hirsch, chief of division, assisted by Bowen Crandall. Very respectfully. Director of the Census. Hon. William C. Eedfield, Secretary of Commerce. (5) NATIONAL AND STATE INDEBTEDNESS AND FUNDS AND INVESTMENTS 1870-1913 (7) NATIONAL AND STATE INDEBTEDNESS AND FUNDS AND INVESTMENTS: 1870-1913. INTRODUCTION. Scope of the full report. — The full report of the Bu- reau of the Census bearing upon the public indebted- ness from 1870 to 1913 will contain statistics for the National Government, the 48 states, all of the counties and parishes within the states, aU incorporated cities, towns, villages, and boroughs, and all other minor civil divisions such as townships, drainage, irrigation and levee districts, school districts, fire districts, poor dis- tricts, road districts, etc. It is intended that this report, when completed, shall include the indebtedness of every political divi- sion and subdivision of continental United States. Work on this report should be completed by the close of 1914. The results will be incorporated in a series of bulletins and later in the general report pertaining to Wealth, Debt, and Taxation. Scope of this bulletin. — -The tables contained in this bulletin pertain to the indebtedness of the National Government and the 48 state governments. Details with reference to the counties, cities, and other minor civil divisions will be presented in later bulletins. No data are contained in this bulletin pertaining to out- lying possessions or dependencies of the United States, such as Alaska, Hawaii, Porto Rico, and the Phihppine Islands. Fiscal years and period of time covered. — The general table, which carries all details with reference to the 48 state governments (Table I), gives figures for 20 fiscal years wherever possible — covering the period from 1893-94 to 1912-13, inclusive. In some states only biennial reports could be secured, and in these cases alternate years are shown. In a few states only very defective and incomplete reports are available for some years, and the table brings out this fact in detail. The information presented is up to and including June 30, 1913, or the fiscal year ending during the 12 months preceding that date. The fiscal year used will be shown for each state in Table 6. General summary, June SO, 1913. — Table 1 presents a summary of the debt and funds and investments for the National Government and the total for the 48 state governments as of June 30, 1913, or the latest date for which data are available. In this general summary the total indebtedness is divided into two classes, "funded" and "floating;" and in turn the funded debt is shown in two separate classes, "out- standing bonds" and "special debt obhgations to pub- lic trust funds." In the table is also shown a sum- mary of productive funds and investments, the total being divided into two classes according to the charac- ter of the assets, namely, "cash" and "securities." Sinking fund assets are included as one of the items which go to make up productive funds and invest- ments ; this item is also shown separately, and in turn is subtracted from the total debt shown, leaving an item properly designated as "debt less sinking fund assets." In some states it might be proper to sub- tract from the indebtedness shown amotmts contained in other funds than the sinking fund, but for the sake of uniformity the table following seems to be the best method of procedure. Debt: Total Funded, total Bonds. Special debt obligations. Floating Funds and investments: Total Cash Securities Sinking fund assets Debt less sinking fund assets: Amount Per capita Total. 83,339,001,439, 2,943,889,898 1,332,202,687 1,611,687,311 395,111,541 2,377.945,834 2, 024; 616, 469 353,329,365 1,964,621,430 1,374,506,360 14.15 The National Government. $2,916,204,914 2,640,523,329 967,366,160 > 1,573,157,169 2 376,681,585 1,887,640,859 1,887,640,869 3 1,887,640,859 < 1,028, 564, 055 10.59 The 48 state govern- ments. 8422,796,525 403,366,669 364,836,427 38,530,142 19,429,956 490,304,975 136,976,610 353,329,365 76,980,571 6 345,942,305 3.57 1 Certificates and notes issued on deposit of gold and silver bullion. 2 Debt bearing no interest. 3 Cash in Treasury available for the payment of debt — consists of currency trust funds, gold and silver funds, and General Treasury cash. * Debt less cash in the Treasury available for the payment of debt. 5 Sinking fund exceeds debt 8126,361— Pennsylvania. ' An examination of Table 1 shows that the total debt of the 48 state governments on June 30, 1913, or at the close of the last fiscal year preceding, was $422,796,525. Of this, $403,366,569 represented funded debt and $19,429,956 floating debt. The funded debt again was divided between bonds amount- ing to $364,836,427 and special debt obligations to public trust funds amounting to $38,530,142. As an offsetting item the states had accumulated sinking fund assets amounting to $76,980,571, leaving the debt less sinking fund assets $345,942,305. Having in mind the population of the 48 states as estimated for June 30, 1913, the per capita debt less sinking fund assets amounted to $3.57. In contrast with the debt of the 48 state govern- ments, the National Government had a total debt on June 30, 1913, of $2,916,204,914. Of this total, the funded debt amounted to $2,540,523,329, while the floating debt amounted to $375,681,585. The funded debt again has been divided, for practical purposes, into two classes, of which the bonded indebtedness amounted to $967,366,160, while the special debt obli- gations amounted to $1,573,157,169. For purposes of (9) 10 WEALTH, DEBT, AND TAXATION. comparison it was necessary to consider debt bearing no interest as floating debt, and certificates and notes issued on deposit of gold and silver bullion as special debt obligations. As a result, the sinking fund assets, or cash in Treasury available for the payment of debt, consisting of accumulated trust funds, gold and silver, and General Treasury cash, not only were sufficient to entirely eliminate the special debt obligations but also to reduce the bonded debt. The debt less cash in Treasury available for the payment of debt, therefore, amounted to only $1,028,564,055, or a per capita debt of $10.59. It will be seen from Table 1 that the debt of the National Government represents three-fourths of the total debt of the National and State Governments. Of the total per capita debt of $14.15, the debt of the National Government contributed $10.59, or 75 per cent, while the debt of the state governments con- tributed $3.57, or 25 per cent of the total. Historical summary: 1870 to 1913. — ^Table 2 shows for the United States and for the 48 states combined, as well as the total of these two classes, the debt less sinking fund assets or cash in Treasury available for the payment of debt for 1870 and 1880, and for each year from 1890-91 to 1912-13. In the case of states where only biennial reports were available it was necessary to assume that the debt less sinking fimd assets remained the same for the two years. In the case of states where reports were intermittent or irregular, it was necessary to accept the figures for debt nearest to the year under consideration. In order to show the general tendency of indebted- ness the per capita debt less sinking fund assets or cash in Treasury available for the payment of debt is shown. This item is based upon the estimated population as of June 30, for each year, except 1870, 1880, and 1890-91, when the population as officially compiled was used. An examination of Table 2 shows that the debt of the National Government was higher in 1870 than at any other time since that date, the per capita debt ia 1870 being $60.46. This debt in 1870 was a material decrease over the debt as it stood August 31, 1865. On that date the indebtedness of the National Gov- ernment (less funds available for the payment of debt) amounted to $2,756,431,571, which was an average of $79.44 for every inhabitant of the country. The decrease between 1865 and 1870 continued very rapidly, and by 1880 the indebtedness of the, National Government had decreased so rapidly that with the increase in population the per capita amounted to only $38.27. Ten years later this had been reduced to $13.60, at which point it remained with only compar- atively sHght fluctuations, increasing somewhat dur- ing the Spanish-American War and decreasing some- what since that date, until at the last date reported the indebtedness of the National Government amounts to only $10.59 per capita, or an amount slightly higher than in 1907, when the per capita indebtedness was $10.05, the lowest amount recorded. No data are available to show the debt of the 48 state governments, or the territory from which they have been formed, in 1865, but from Table 2 it wiU be seen that in 1870 the indebtedness of the 48 state governments, or their counterparts, less sinking fund assets, was $352,866,698, or $9.15 per capita. The indebtedness of the state governments decreased in somewhat the same proportion as the indebtedness of the National Government, and in 1880 the average per capita debt for the 48 state governments was $5.48. Ten years later this had been reduced to $3.37. Further fluctuations during the last 20 years brought the average down to $2.67 in 1909, the lowest amount shown in the period covered. Since 1909 there has been more or less increase, the average per capita for the 48 state governments being $3.57 on June 30, 1913. Although there is a net decrease during the period covered in the actual outstanding indebtedness, a material part of the decrease in per capita debt both for the National Government and the 48 state govern- ments is due to the very material increase in popu- lation. Considering the total debt for the National Government and the 48 state governments, the total amount outstanding decreased from $2,684,036,654 in 1870 to $1,374,506,360 in 1913, a decrease of almost 50 per cent. In contrast, the per capita decreased from $69.61 to $14.15. The lowest point in the per capita debt was in 1907, when it amounted to $12.74, Table 2 FISCAL YEAB. 1913.. 1912.. 1911.. 1910.. 1909.. 1908.. 1907.. 1906.. 1905.. 1904.. 1903.. 1902.. 1901.. 1900.. 1897.. 1896.. 1895.. 1894.. 1892.. 1891.. 1880.. 1870.. INDEBTEDNESS (LESS SINKINO EUND ASSETS OB FUND AVAILABLE FOB PAYMENT OF DEBT). Amount. Per capita. Jl, 374, 506, 360 1,327,338,120 1,291,704,322 1,302,592,461 1,265,000,460 1,177,506,739 1,113,864,091 1,202,893,950 1,228,737,365 1,202,879,261 1,157,147,358 1,208,826,512 1,273,218,117 1,343,164,852 1,383,891,283 1,250,993,687 1,195,340,897 1,153,876,059 1,095,889,462 1,095,507,679 1,041,020,871 1,047,274,410 1,063,123,239 2,194,072,520 2,684,038,654 $14.15 13.89 13.75 14.11 13.95 13.22 12.74 14.01 14.59 14.56 14.29 15.23 16.38 17.64 18.50 17.02 16.66 16.28 15.75 16.05 16.54 15.95 16.97 43.76 The National Government. Amount. Per capita. $1,028,564,055 1,027,574,697 1,015,784,339 1,046,449,185 1,023,861,531 938,132,410 878,696,755 964,435,687 989,866,772 967,231,774 925,011,637 969, 467; 241 1,044,739,120 1,107,711,258 1,155,320,235 1,027,085,492 986,656,086 955,297,253 901,672,966 899,313,381 838,969,476 841,526,464 851,912,752 1,919,326,748 2,331,169,956 $10. 59 10.75 10.81 11.34 11.29 10.53 10.05 11.24 11.75 11.71 11.42 12.22 13.44 14.55 15.45 13.98 13.67 13.48 12.96 13.17 12.53 12.82 13.60 38.27 60.46 The 48 state governments. Amount. Per capita. 1 $345,942,305 2 299,763,423 3 275,919,983 1256,143,276 241,138,929 239,374,329 235,267,336 238,453,263 238,870,593 235,647,487 232,135,721 5 239,369,271 = 228,478,997 '235,453,594 •228,571,048 223,908,195 208,684,811 198,578,806 194,216,486 '196,194,298 202,051,395 205,747,946 211,210,487 274,745,772 352,866,698 $3.57 3.15 2.95 2.78 2.67 2.70 2.70 2.79 2.85 2.86 2.88 3.03 2.95 3.10 3.07 3.06 2.90 2.81 2.80 2.8» 3.03 3.14 3.37 5.48 9.15 > Sinking fund exceeds debt $126,351— Pennsylvania. 2 Sinking fund exceeds debt $101,173— Pennsylvania. » Sinking fund exceeds debt $55,990— Peimsylvania. * Sinking fund exceeds debt $8,118 — Pennsylvania. » Sinking fund exceeds debt $79,982— New Jersey. 8 Sinking fund exceeds debt $88,196— New Jersey. ' Sinking fund exceeds debt $141,613— New Jersey. ' Sinking fund exceeds debt $54,198— New Jersey. • Sinking fund exceeds debt $477,150— Ehode Island. INDEBTEDNESS OF THE NATIONAL GOVERNMENT. Character of the national debt. — On June 30, 1913, the debt of the National Government, consisting of bonds, notes, certificates, and the national bank-note redemp- tion account, aggregated $2,916,204,914. This amount included only those obligations shown in the annual reports issued by the Treasury Department. The national debt is classified under three headings: Bonds, amounting to $967,366,160; debt bearing no interest, $375,681,585; and certificates and notes issued on deposit of coin, legal tender notes, and bullion, $1,573,157,169. Bonds. — ^Nine series of bonds were reported on June 30, 1913, all interest bearing with the exception of the first. This debt upon which all interest has ceased since maturity, amounting to $1,659,550 in 1913, con- sisted of bonds of the funding loans of 1891, 1904, and 1907, and a large number of obhgations matuifed at various dates prior and subsequent to 1861. The bonds of the second series known as the "loan of 1925," amounting to $118,489,900 on June 30, 1913, were issued under authority of the resumption act of 1875. This loan was made to secure gold for the re- serve fund which, owing to the panic of 1893, had been greatly depleted by the redemption of a large amount of Treasury notes, by the withdrawal of gold for export, and even by the payment of a part of the current ex- pense of the Government. The next issue, that of the "loan of 1908-1918," was authorized for the purpose of meeting the expenses of the war with Spain. The bonds of this series outstanding in 1913 atnounted to $63,945,460. The so-called "consols of 1930," amount- ing to $646,250,150, were issued to refund at 2 per cent interest any of the matured bonds of the United States of the 5 per cent funded loan of 1907 and of the 3 per cent loan of 1908-1918. Three issues of Panama Canal bonds of the series 1906, 1908, and 1911, amounting to $54,631,980, $30,000,000, and $50,000,000, respec- tively, were authorized to pl-ovide for the construction of. a canal connecting the waters of the Atlantic and Pacific Oceans. An act of 1910 provided that any de- positor in a postal savings depository may surrender his deposit and receive in lieu thereof the amount of the surrendered deposits in United States bonds. On June 30, 1913, there were outstanding two issues of these postal savings bonds, amounting to $1,314,140 and $1,074,980. Debt hearing no interest. — On .Tun« 30, 1913, the non- interest bearing debt of the United States was com- posed of the following items: Old demand notes, United States notes, fractional currency, and the national bank-note redemption account. The "old demand notes" are part of an issue of $60,000,000 of Treasury notes, in denominations of $5 to $50, made during the CvrH War. On June 30, 1913, $53,153 of these old notes were outstanding. The United States notes were known as "legal tender notes" in 1862 and 1863, when they were au- thorized. After the close of the Civil War a large num- ber of these notes were redeemed and retired, but the act of Congress approved May 31, 1878, forbade the retirement of any of these notes after that date and provided that when any of them were received into the Treasury they should be reissued. Under this law the amount of United States notes in circulation has re- mained at $346,681,016. The reserve fund of the .Treasury is held for the redemption of these notes. Of the large amount of fractional currency author- ized and issued during the Civil War, $6,854,610 was re- ported as outstanding on June 30,1913. This sum does not include $8,375,934 of fractional currency estimated as lost or destroyed and omitted from the Treasury deb* ^atement under authority of the act of June 21, 1879. The national bank-note redemption account, amounting to $22,092,806 in 1918, consists of balances in the United States Treasury to the credit of national banks for deposits made to redeem the circulating notes of such banks. An act of July 14, 1890, pro- vided that aU such deposits should be covered into the Treasury and that the Treasurer shoidd redeem from the general cash all circulating notes which should come into his possession subject to redemption. This act also provided that the amount of these deposits held in the Treasury should be reported as debt in the statements of the Treasury Department. Certificates and notes issued on deposit of coin, legal tender notes, and bullion. — Under this heading are reported certain obligations which are oflFset by funds held exclusively for their redemption. These consist of gold certificates amounting to $1,086,947,169; silver certificates, $483,550,000; and Treasury notes of 1890, $2,660,000. Cash in the Treasury available for payment of debt.^ The total cash in the Treasury available for the pay- ment of debt amounted on June 30, 1913, to $1,887,- 640,859, and was made up of the amounts in the reserve fund, funds for the redemption of certificates, and the General Treasury fund. The reserve fxmd is held for the redemption of United States or "legal tender" notes. An act of March 14, (11) 12 WEALTH, DEBT, AND TAXATION. 1900, provided that a reserve fund of $150,000,000 in gold coin and bullion should be maiatained, and that if the fund falls below $100,000,000 the Secretary of the Treasury may restore the same to the maximum amount of $150,000,000 by the sale of bonds. The funds for the redemption of certificates are held for the payment of gold and silver certificates and Treasury notes of 1890, and are equivalent to the amount of these obligations outstanding. These funds are referred to as "currency trust funds" in the reports of the Treasury Department. On June 30, 1913, they consisted of gold coin, gold bullion, and silver doUars, aggregating $1,573,157,169. The net balance in the general fimd, which is the amount available for the payment of debt, amounted to $164,483,690 on June 30, 1913. In addition to this amount there were also large amoimts of money held in the Treasury for specific purposes. Historical summary: 1870 to 1913.— Table 3 gives a summary of the indebtedness of the United States for 1870, 1880, and also for each year from 1891 to 1913, under three general headiags: Bonds, debt bear- ing no raterest, and certificates and notes issued on deposits of coin and gold and silver bullion. Cash in the Treasury available for the payment of debt is also shown. In each year the total debt and the classes thereof are given, as well as the cash, the total debt minus this cash, and the per capita debt. In computing the per capita figures estimates of population based on the average percentage of increase from census to census have been used, except 1870, 1880, and 1890-91. Table 3 DEBT. Cash in Treas- *ury available for payment of debt.i DEBT LESS CASH AVAILA- BLE FOE ITS PAYMENT. FISCAL TEAE ENDING JUNE 30— Total. Bonds. Debt bearing no interest. Certiflcates and notes issued on deposits of coin and bullion. Amount. Per capita. 1913 $2,916,204,914 2,868,373,874 2,766,600,607 2,652,666,838 2,639,646,241 2,626,806,272 2,467,188,062 2,337,161,839 2,274,616,064 2,264,003,586 2,202,464,782 2,168,610,446 2,143,326,934 2,136,961,092 1,991,927,307 1,796,531,996 1,817,672,666 1,769,840,323 1,676,120,983 1,632,253,637 1,545,985,686 1,688,464,145 1,545,996,692 2,120,415,371 2,480,672,428 $967,366,160 965,637,220 917,233,020 915,442,385 916,201,345 901,634,006 896,921,096 896,287,275 896,528,685 897,128,360 915,746,500 932,351,200 988,556,660 1,024,655,180 1,047,267,050 848,630,150 848,712,010 849,000,780 717,923,660 636,893,130 587,131,160 587,816,205 612,143,825 1,731,614,556 2,050,164,363 $375,681,585 378,301,285 386,751,918 381,497,684 382,114,027 426,056,398 401,267,098 396,235,695 385,828,510 389,130,656 393,659,413 396,680,157 383,015,686 388,761,733 389,433,654 384,112,913 378,081,703 373,728,570 378,989,470 380,004,687 374,300,606 380,403,636 393,662,736 353,956,945 396,960,946 $1,573,157,169 1,524,635,369 1,461,615,669 1,365,725,869 1,341,230,869 1,299,115,869 1,160,009,869 1,044,638,869 992,257,969 977,744,669 893,068,869 830,579,089 771,764,689 723,544,179 655,226,603 663,788,933 590,878,953 547,110,973 579,207,863 616,355,820 584,553,920 620,246,304 540,190,031 34,843,870 34,647,120 $1,887,640,859 1,840,799,177 1,749,816,268 1,606,216,653 1,615,684,710 1,688,673,862 1,578,691,307 1,372,726,152 1,284,748,292 1,296,771,811 1,277,463,145 1,189,163,205 1,098,587,814 1,029,249,834 836,607,072 769,446,504 831,016,580 814,543,070 774,448,017 732,940,256 707,016,210 746,937,681 694,083,840 201,088,623 149,502,472 $1,028,564,055 1,027,574,697 1,015,784,339 1,046,449,185 1,023,861,631 938,132,410 878,696,755 964,435,687 989,866,772 967,231,774 926,011,637 969,457,241 1,044,739,120 1,107,711,268 1,155,320,235 1,027,085,492 986,666,086 965,297,253 901,672,966 899,313,381 838,969,476 841,526,464 851,912,762 1,919,326,748 2,331,169,966 $10. 69 1912 1911 1910 1909 1908 1907 1906 1905 11 75 1904 1903 11 42 1902 . ... 12 22 1901 1900 14 55 1899 1898 13.98 13.67 13. 4S 12.96 13.17 12.63 12.82 13.60 38.27 60.45 1897 1896 . 1895 1894 ... ' 1893 1892 1891 1880 1870 1 Consists of currency trust funds, gold reserve fund, and General Treasury cash. An inspection of the table shows that the issues of bonds by the National Government were greatest in the year 1870, when the amount outstanding was $2,050,164,363. This sum decreased until 1893 when the bonded indebtedness was $587,131,160; then increased more or less irregularly imtil 1913, when it was $967,366,160. The debt bearing no interest re- mained nearly the same for the entire period. Certifi- cates and notes issued on deposits of coin and bullion indicate an increase in 1891 over that for 1870 by $505,642,911. In the following years, however, the increase is not quite s© noticeable, the amounts vary- ing but little untU 1900^ — from which time there is a decided increase, the maximum of $1,573,157,169 being reached in 1913. Cash available in the Treasury for the payment of debt, consisting of currency trust funds, gold reserve fund, and General Treasury cash, indicates a decided increase with the exception of the years 1898, 1909, and 1910, which years report a slight reduction. The maximum amount shown is for 1913, $1,887,640,859. The per capita debt fluctuated, being the highest in 1870 and the lowest in 1907. In 1870 it amounted to $60.46 per capita; within 20 years, as a result of reduction in debt and increase in poptdation, it was reduced to $13.60; by 1900 it had advanced to $14.55, since which time there has been some reduction. In 1907 it amounted to only $10.05, while the last year reported (1913) shows a per capita debt of $10.59. The decrease from 1900 is to be attributed largely to increase of population rather than to decrease of debt. Debt of the National Government: 1894 to 1913. — Table 4 shows the indebtedness of the National Gov- ernment for each year from June 30, 1894, to Jtme 30 1913, thus covering a 20-year period. For each year there are given details with reference to outstanding bonds, debt bearing no interest, and other items of NATIONAL AND STATE INDEBTEDNESS. 13 indebtedness, such as certificates and notes issued on deposits of coin and bullion; also the cash in Treasury available for the payment of debt, and the various classes thereof, together with the total iadebtedness less cash available for its payment. An inspection of Table 4 shows that on June 30, 1894, the outstanding bonds amounted to only $636,893,130. By June 30, 1899, five years later, this had increased to $1,047,267,050. This amount decreased again more or less gradually until June 30, 1907, when it amounted to $895,921,095, since which time the issuing of Pan- ama Canal bonds and postal savings bonds has brought the total again to $967,366,160 on June 30, 1913. The outstanding bonds referred to in this paragraph are interest-bearing obligations, except in the case of small amounts of bonds which remain in the hands of the Treasurer after the year of maturity, in which case the interest ceases and the bonds are held until claimed. On June 30, 1894, this class of bonds on which interest had ceased amounted to $1,851,240. This decreased gradually untU June 30, 1900, when it amounted to $1,176,320, at which time an important loan which matured at the option of the Government was taken up so far as called for, and the debt on which interest had ceased was increased by the unclaimed amounts, bring- ing the total in this class again up to $1,415,620. This amount has increased and decreased according to circumstances since that date until June 30, 1913, when it amounted to $1,659,550. The highest amount at any time in the 20-year period covered was $4,130,015 on June 30, 1908. The appearance of new series of bonds and the disappearance of old series during the 20-year period are shown in detail in Table 4. In addition to the outstanding bonds, the Govern- ment recognizes debt bearing no interest to the amount of $375,681,585, June 30, 1913. On June 30, 1894, 20 years earher, this amounted to $380,004,687. The largest amount recorded at any one time was on June 30, 1908, when the amount was $426,056,398. The debt bearing no interest is made up of a considerable number of classes of debt. On June 30, 1913, these were as follows: Old demand notes issued in 1861 and 1862, amount- ing to $53,153. Most of these probably never will be presented for payment, since the amount has remained almost constant for the last 20 years, bears no interest, and probably represents largely lost documents or those held as souvenirs. The most important item in this general class are the legal tender notes, issued in 1862 and 1863. On June 30, 1913, these amounted to $346,681,016, an amount which has remained constant during the last 20 years. Only two other items need to be mentioned here; these are fractional currency and national bank-note redemption account, which amounted to $6,854,610 and $22,092,806, respectively, on June 30, 1913. The third main class into which the total debt has been divided consists of certificates and notes issued on deposit of coin, legal tender notes, and buUion. On June 30, 1894, these items amounted to $615,355,820. Although there have been more or less changes during the 20-year period, the tendency has been a gradual increase until June 30, 1913, when the highest point was reached, amounting to $1,573,157,169, an amount considerably more than twice as great as that 20 years earher. During this period of 20 years, certificates of deposit issued in 1872 disappeared entirely; Treas- ury notes of 1890 were reduced from $152,584,417 to $2,660,000; silver certificates increased from $337,148,504 to $483,550,000; and gold certificates increased from $66,387,899 to $1,086,947,169. Offsetting the outstanding indebtedness of the National Government there are three classes of cash in the Treasury available for the payment of debt. These are the reserve fund, amounting to $150,000,000 on June 30, 1913; funds for the redemption of certificates, amounting to $1,573,157,169; and General Treasury cash, amounting to $164,483,690. The total debt and the total cash in the Treasury available for its payment, as well as the amount of debt remaining after the subtraction has been made, have already been shown for each year of the 20-year period in connection with Table 3. An important feature of the table is the year of issue of debt obligations, the year of maturity, and the nomi- nal rate of interest. 14 WEALTH, DEBT, AND TAXATION. Table 4,— DETAILED EXHIBIT OF THE INDEBTEDNESS 24 31 CHABACTEB AND PUEPOSE OP ISSUE. Total debt. Bonds. Debt on which interest has Refunding certificates Funded loan of 1907 Funded loan of 1891 Loan 011904 Loanon925 Spanish Warexpense ("loan ol 1908-1918"). Consols of 1930 Panama Canal loan (series 1906). Certificates of indebtedness.. Panama Canal loan (series 1908). Panama Canal loan (series 1911). Postal savings bonds (1st, 2d, and 3d series). Postal savings bonds (4th series). Debt bearing no interest. Old demand notes I/Cgal tender notes Fractional currency National bank-note redemp- tion account. Certificates and notes issued on deposit of coin, legal tender notes, and bullion. Gold certificates. . Silver certificates Certificates of deposit. . , Treasury notes of 1890. . Total debt. Cash in Treasury available for payment of debt. Reserve fund Funds for the redemption of certificates. General Treasury cash Debt less cash available for its payment. Year of issue. 1879 1877-79 1894-95 1900 1906 1908 1908 1911 1911-12 1913 1861-62 1862-63 1862-64 1890 1863 1 1882 1900 1878 1886 1900 1872 1890 Year of matu- rity. Rate of in- terest. (') 1904 1925 1908-18 1930 1916-36 1908 1918-38 1961 1913-23 1914-33 (') 0) Ceased i 4 2 6 4 2 3 2.S 2.5 AMOUNT OUTSTANMNG — June 30, 1894. June 30 1895. $1,632,253,637 $1,676,120,983 June 30, 636,893,130 717,923,650 1,861,240 58,990 659,618,400 25,364,500 50,000,000 380,004,687 54,848 346,681,016 6,897,137 26,371,686 615,355,820 66,387,899 337,148,504 59,235,000 152,584,417 1,632,263,637 732,940,256 64,873,024 615,355,820 52,711,412 899,313,381 1,721,590 64, 110 569,625,750 25,364,600 100,000,000 31, 167, 700 378,989,470 54, 848 346,681,016 6, 894, 117 25,359,489 579,207,863 48,469,959 328,894,504 55,755,000 146,088,400 1,676,120,983 774,448,017 100,000,000 579,207,863 95,240,154 901,672,966 $1,769,840,323 849,000,780 1,636,; 47, 140 559,636,850 25,364,500 100,000,000 162, 315, ^OO June, 30 1897. $1,817,672,666 848,712,010 1,346, 45, 130 569, 640, 100 25,364,500 100,000,000 162,315,400 373,728,570 54,348 346,681,016 6, 891, 184 20,102,022 547,110,973 42,818,189 342,619,504 31,990,000 129,683,280 1,769,840,323 814,543,070 100,000,000 547,110,973 167,432,097 955,297,253 378,081,703 54,348 346,681,016 6,887,702 24,458,637 590,878,953 38,782,169 375,479,504 61,750,000 114, 867, 280 1, 817, 672, 666 Jime 30, June 30, 1899. $1,796,531,996 $1,991,927,307 June 30, 1900. $2,136,961,092 848, 630, 150 1, 047, 267, 050 1,262,680 41,520 659,646,060 25,364,500 100,000,000 162,315,400 384, 112, 913 53,998 346,681,016 6,884,752 30,493,147 563, 788, 933 831,016,580 100,000,000 590,878,953 140,137,627 988,666,086 37,420,149 398,556,504 26, 605, 000 101,207,280 1,796,531, 769,446,504 100,000,000 663,788,933 105,657,571 1,027,085,492 1,218,300 37,830 559,652,300 25,364,500 100,000,000 162,315,400 198,678,720 389,433,654 63,848 346,681,016 6,881,409 35,817,381 555,226,603 34,297,819 406,085,504 21,325,000 93,518,280 1,991,927,307 836,607,072 100,000,000 555,226,603 181,380,469 1,155,320,236 1,024,665,180 1,176,320 35,470 355,528,350 21,979,850 47,651,200 162,315,400 128,843,240 307,125,350 June 30, 1901. $2,143,326,934 988,556,660 388, 761, 733 53, 848 346, 681, 016 6,878,990 35,147,879 723,544,179 227,797,179 416,015,000 3,705,000 76,027,000 2,136,961,092 1,029,249,834 150,000,000 723,544,179 155,705,655 1,107,711,258 1,415,620 33,320 257,376,050 21,854,100 162,315,400 99,621,420 445,940,760 383, 015, 585 63,848 346,681,016 6,876,412 29,404,309 771,754,689 288,957,689 435,014,000 47,783,000 2,143,326,934 1, 098, 587, 814 160,000,000 771,754,689 176,833,125 1,044,739,120 'On demand. » Convertible into 4 per cent bonds. NATIONAL AND STATE INDEBTEDNESS. OF THE NATIONAL GOVERNMENT: 1894 TO 1913. 15 AMOUNT OUTSTANDING— continued. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. »2,158,610,446 J2,202,464,782 J2,264,003,685 $2,274,615,064 $2,337,161,839 $2,457,188,062 $2,626,806,272 32,639,546,241 $2,652,665,838 $2,765,600,607 $2,868,373,874 32,916,204,914 1 932,361,200 916,746,500 897,128,360 896,528,686 896,287,275 895,921,095 901,634,006 916,201,345 915,442,385 917,233,020 966,637,220 967,366,160 2 1,280,860 31,980 233,177,400 1,205,090 30,600 173,385,650 1,970,920 29,080 156,693,150 1,370,245 27,630 166,596,600 1,128,135 26,280 116,755,160 1,086,815 22,620 36, 126, 160 4,130,015 2,883,855 2,124,895 1,879,830 1,760,450 1,659,560 3 4 5 6 19,410,350 134,994,200 97,615,660 446,940,750 19,385,060 118, 489, 900 83,107,060 520, r43, 150 7 118,489,900 77,135,360 542,909,950 118,489,900 77,135,360 642,909,960 118,489,900 63,945,460 595,942,350 118,489,900 63,946,460 646,250,150 30,000,000 118, 489, 900 63,946,460 646,250,150 64,631,980 14,186,500 118,489,900 68,945,460 646, 250, 150 54,631,980 ii8,489,966 63,945,460 646,250,160 64,631,980 118,489,900 63,945,460 646,260,150 54,631,980 118,489,900 63,946,460 646,250,150 54,631,980 118,489,900 63,945,460 646,250,160 54,631,980 8 9 10 11 12 30,000,000 30,000,000 30,000,000 2,036,700 30,000,000 50,000,000 459, 280 30,000,000 50,000,000 1,314,140 1,074,980 375,681,585 13 14 15 16 39.5,680,157 393,669,413 389,130,656 385,828,510 396,235,696 401,267,098 426,056,398 382,114,027 381,497,584 386,751,918 378,301,285 17 63,848 346,681,016 6,873,324 42,071,969 830,579,089 63,848 346,681,016 6,871,241 40,053,308 893,058,869 53, 848 346,681,016 6,869,250 35,526,642 977,744,569 63,283 346,681,016 6,867,109 32,227,102 992,267,969 63, 283 346,681,016 6,865,757 42,635,639 1,044,638,869 53,283 346,681,016 6,863,994 47,658,805 1,160,009,869 63,283 346,681,016 8,862,814 72,459,285 1, 299, 115, 869 53,283 346,681,016 6,860,787 28,518,941 1,341,230,869 63,283 346,681,016 6,858,822 27,904,463 1,355,725,869 53,283 346,681,016 6,857,391 33,160,228 1,461,616,669 63,283 346,681,016 6,856,154 24,710,832 1,524,535,369 63, 153 346,681,016 6,854,610 22,092,806 1,573,157,169 18 19 20 21 22 346,582,089 453,997,000 409,109,869 464,706,000 494,290,569 470,476,000 517,579,969 466,266,000 559,779,869 477,473,000 678,244,869 475,777,000 819,783,869 474,350,000 862,601,869 484,414,000 862,936,869 489,117,000 994,870,669 463,499,000 1,040,057,369 481,549,000 1,086,947,169 483,650,000 23 24 30,000,000 2,158,610,446 19,243,000 2,202,464,782 12,978,000 2,264,003,585 9,413,000 2,274,615,064 7,386,000 2,337,161,839 6,988,000 2,457,188,062 4,982,000 2,626,806,272 4,215,000 2,639,546,241 3,672,000 2,652,665,838 3,246,000 2,765,600,607 2,929,000 2,868,373,874 2,660,000 2,916,-204,914 26 27 1,189,153,205 1,277,453,146 1,296,771,811 1,284,748,292 1,372,726,152 1,578,591,507 1,688,673,862 1,615,684,710 1,606,216,653 1,749,816,268 1,840,799,177 1,887,640,859 28 150,000,000 830,579,089 208,574,116 969,457,241 160,000,000 893,058,869 234,394,276 925,011,637 150,000,000 977,744,669 169,027,242 967,231,774 150,000,000 992,267,969 142,490,323 989,866,772 150,000,000 1,044,638,869 178,087,283 964,435,687 150,000,000 1,160,009,869 268,581,438 878,696,755 150,000,000 1,299,115,869 239,557,993 938,132,410 160,000,000 1,341,230,869 124,453,841 1,023,861,531 150,000,000 1,366,725,869 100,490,784 1,046,449,185 150,000,000 1,461,616,669 138,200,599 1,015,784,339 150,000,000 1,524,635,369 166,263,808 1,027,574,697 150,000,000 1,673,167,169 164,483,690 1,028,564,055 29 30 31 32 8 After July, 1907. * Option. 16 WEALTH, DEBT, AND TAXATION. Distribution of population and debt of National Gov- ernment among states, June 30, 1913. — ^Table 5 shows the estimated population of the United States, by- states, for June 30, 1913. The table also presents the percentage distribution of this population, thus show- ing what proportion of the total population is to be found in each state of the United States. While the debt of the National Government does not necessarily rest with equal weight upon all citizens of the United States and may probably rest more nearly in propor- tion to the value of all property in the United States, the table has been constructed in order to show the burden of taxation on the people of the different states if the debt of the National Government were distribu- ted ia proportion to population. It appears in Table 1 that the debt of the National Government less cash available for its payment amounted to $10.69 per capita on June 30, 1913. An inspection of Table 6 shows that Arizona and Massa- chusetts are the only two states where the state debt less sinking fund assets amounts to more than $10.59 per capita. The debt of the National Government, therefore, is a greater weight upon the people of every state in the Union (excluding these two) than is the debt of the state in which they live. Further than this, it should be noted that (as explaiaed in detail ia another place in this bulletin) the large per capita debt in Arizona and in Massachusetts is due principally not to the state debt but to the contingent debt assumed by the state in the name of counties and municipalities in Arizona and metropolitan districts in Massachusetts. The next highest per capita debt for any state is $10.46 in Virginia, but (as noted in another part of this buUetin) this includes a very large sum properly chargeable to West Virginia, which has not yet been assTimed by that state because of temporarily unsettled technicalities. In only a very small number of states does the per capita state debt amount to one-half the per capita debt of the National Government. The states falling in this class are Tennessee, with a per capita state debt of $5.32; Ehode Island, with a per capita state debt of $9.02, part of which is the con- tingent debt of the state due to the metropolitan park districts of that state; New York, with a per capita state debt of $9.05, due largely to the cost of the Erie Canal; Nevada, with a per capita state debt of $6.70; Maryland, with a per capita state debt of $5.56; Lou- isiana, with a per capita state debt of $7.89; Idaho, with a per capita state debt of $5.92; Connecticut, with a per capita state debt of $6.12; and Alabama, with a per capita state debt of $5.95. If the figures shown in column 3 of Table 5, which represent a distribution of the debt of the National Government less cash available for its payment on June 30, 1913, on the basis of population in the indi- vidual states, are compared in detail with the debt less sinking fund assets for each state, as shown in Table 6, it will be seen that the burden of the national debt upon the various states is much greater, except in the cases previously noted, than is the state debt. Thus while the per capita debt for the debt of the National Government amounts to $10.59, that for the debt of the state of Oregon is only $0.04; for the debt of the state of Kansas $0.14; for the debt of the state of Iowa $0.16; and for the debt of the state of New Jersey $0.24; while for the debt of the-state of Penn- sylvania it is zero, since in that state the sinking fund assets exceed the total debt. United States. Alabama Arizona Arlcansas California Colorado Connecticut Delaware District of Columbia Florida Georgia Idaho Illinois Indiana Iowa . Kansas ■ Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey., New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming POPULATION JUNE 30 1913 (ESTIMATED). Total. 97,163,330 2,238,614 230,808 1,659,859 2,667,516 883,276 1,181,793 208,036 348,077 825,420 2,736,737 378,818 5,904,043 2,760,792 2,222,472 1,762,573 2,336,277 1,745,658 757,936 1,330,209 3,548,705 2,936,618 2,181,077 1,876,987 3,353,983 419,174 1,233,122 94,722 436,740 2,749,486 370,185 9,712,954 2,307,809 660, 849 4,965,169 1,938,761 756,988 8,107,942 579,665 1,572,285 643, 121 2, 238, 128 4,171,997 404,735 359,957 2, 129, 003 1,344,686 1,306,345 2,419,898 163,325 Per cent distribu- tion. 100.00 2.304 0.238 1.708 2.745 0.909 1.216 0.214 0.358 0.850 2.817 0.390 6.076 2.841 2.287 1.814 2.404 1,797 0.780 1.369 3.652 3.022 2.246 1.932 3.452 0.431 1.269 0.097 0.449 2.830 0.381 9.997 2,375 0.680 5.110 1.995 0.779 8.345 0.597 1.618 0.662 2.303 4.294 0.417 0.370 2.191 1.384 1.344 2,491 0,168 $1,028,564,055 Debt less cash avail- able for its payment June 30, 1913, distributed on basis of population. 23,698,116 2,447,982 17,567,874 28,234,083 9,349,647 12,507,339 2,201,127 3,682,259 8,742,794 28,974,649 4,011,400 62,495,552 29,221; 505 23,523,260 18,658,152 24,726,680 18,483,296 8,022,800 14,081,042 37,663,159 31,083,206 23,091,263 19,871,858 35,506,031 4,433,111 13,052,478 997,707 4,618,253 29,108,363 3,918,829 102,825,549 24,428,396 6,994,236 52,559,623 20,519,853 8,012,514 85,833,670 6,140,527 16,642,166 6,809,094 23,687,830 44,166,541 4,289,112 3,805,687 22,535,838 14,235,327 13,823,901 25,621,531 1,727,988 INDEBTEDNESS OF THE STATES: SUMMARY BY STATES. Oeneral summary ly states, June 30, 1913. — Table 6 presents, by states, for June 30, 1913, or the nearest date thereto for which figtires are available, a summary of the debt and productive funds and investments for each state in the United States, as well as the total for the 48 states. In the case of indebtedness, funded and floating debt are shown separately, and under funded debt, outstanding bonds are separated from special debt obligations to public trust funds. Under funds and investments, cash and securities are shown sepa- rately. Sinking fund assets are included under pro- ductive funds and investments, and in addition are shown separately, and also subtracted from the total debt for each state, thus leaving an item which is as nearly comparable for the 48 states as any item which can readily be segregated. The total and the per capita debt less sinking fund assets, and the fiscal year for which the report was secured, are shown for each state. Table 6 Total. Alabama.. Arizona Arkansas.. Callfomia. Colorado... Conneotiont Delaware , District of Columbia. . Florida Georgia. Idaho Illinois Indiana..,.. , Iowa Kentucky Louisiana Maine Maryland Massachusetts. Michigan.. Minnesota. Missouri. Montana.. Nebraska Nevada New Hampshire. . New Jersey New Mexico New York North Carolina. North Dakota.. Ohio Oklahoma Oregon Pennsylvania. . . Bhode Island. . . South Carolina. South Dakota.. Tennessee. Texas Utah Vermont.. Virginia... Washington West Virginia '. Wisconsin Wyoming $422,796,525 Total. 13.132,375 3,594,371 1,250,500 11,091,058 3,173,949 7,110,451 826,785 0) 619,199 6,934,202 2,450,703 2,272,620 1,350,783 356,670 370,000 4,452,174 13,546,150 1,254,998 13,035,750 117,802,991 7,089,092 1,345,290 4,460,519 4,775,527 1,747,910 374,394 670,759 2,120,611 642,069 1,236,632 111,457,332 8,058,430 937,300 5,300,430 6,930,243 30,852 659,160 5,800,308 7,111,875 370,000 11,811,726 4,656,499 1,429,694 569,906 24,654,851 1,556,012 2,251,000 122,375 Funded. Total. 1403,366,569 12,644,097 3,528,275 1,250,500 10,178,250 1,144,400 7,064,100 826,785 601,567 6,734,202 2,364,250 1,831,230 1,260,163 10,937 370,000 2,487,021 13,468,209 1,254,998 13,035,750 117,134,662 6,896,212 900,000 3,851,573 4,683,839 1,200,000 614,000 2,070,739 116,000 1,148,000 110,391,236 7,532,950 937,300 5,256,636 3,055,000 653 659,160 5,580,000 6,694,504 11,793,666 3,977,500 1,210,000 346,631 24,562,550 331,024 2,251,000 117,000 Bonds. 1364,836,427 $38,530,142 9,057,000 3,528,275 1,250,500 10,098,500 1,144,400 7,064,100 565,000 601,567 6,352,500 2,364,250 17,500 655,615 370,000 6,394 12,019,028 700 13,035,750 117,134,662 900,000 1,506,899 285,000 1,200,000 234,000 1,376,100 1,148,000 109,702,660 7,^32,950 937,300 1,665 3,055,000 653 142,160 5,580,000 6,444,165 11,793,666 3,977,500 1,210,000 22,094,944 331,024 117,000 Special debt to public trust funds. $19,429,956 3,587,097 79,750 261,785 381,702 1,813,730 604,548 10,937 2,480,627 1,449,181 1,254,298 6,896,212 2,344,674 4,398,839 380,000 694,639 116,000 688,576 6,264,971 517,000 '250,'339 346,631 2,467,606 Floating. 488,278 66,096 912,808 2,029,549 46,351 17,632 200,000 86,453 441,390 90,620 345,733 1,965,153 77,941 668,329 192,880 445,290 608,946 91,688 547,910 374,394 56,759 49,872 526,069 88,632 1,066,096 525,480 43,794 3,875,243 30, 199 220,308 417,371 370,000 18,060 678,999 219,694 223,275 92,301 1,224,988 FUNDS AND INVESTMENTS. 1490,304,975 3,849,149 1,034,083 2,052,249 21,054,915 4,250,014 4,446,270 1,628,223 2,779,502 1,661,579 5,198,104 7,539,420 12,994,090 7,184,423 11,989,925 2,916,031 3,533,164 1,716,579 9,548,587 52,566,167 16,263,934 30,265,400 2,595,673 7,405,669 5,430,388 9,881,298 2,703,028 1,713,748 13,957,168 655,376 66,414,958 4,979,115 8,799,435 10,062,111 6,456,357 7,485,067 10,713,806 1,685,368 1,875,286 11,788,130 1,283,309 70,471,884 4,878,019 1,562,498 8,379,175 12,116,389 2,589,715 8,576,956 1,373,251 Cash. $136,975,610 $353,329,365 262,052 1,034,083 801,749 12,058,040 2,043,876 2,424,202 93,316 1,011,635 1,113,517 1,282,188 6,499,210 339,405 1,693,449 1,735,277 361,904 850,025 457,281 1,887,198 6,369,966 9,367,722 2,992,729 250,999 2,981,830 1,401,641 573,310 679,028 668,837 8,084,185 655,376 36,088,659 290,856 840, 663 4,782,140 1,387,177 993,736 9,781,851 922,708 766, 217 925,135 878,309 1,392,735 1,661,701 313,003 370,797 2,446,248 1,616,515 1,924,891 818,439 Securities. 3,687,097 1,250,500 8,996,875 2,206,138 2,022,068 1,534,907 1,767,967 648,062 3,915,916 2,040,210 12,654,685 6,490,974 10,254,648 2,554,127 2,683,129 1,259,298 7,661,389 46,196,201 6,896,212 27,272,671 2,344,674 4,423,839 4,028,747 9,307,988 2,124,000 1,144,911 5,872,983 30,326,399 4,688,259 7,968,772 6,279,971 5,069,180 6,491,331 931,955 762,660 1,109,069 10,862,995 405,000 69,079,149 3,216,318 1,249,495 8,008,378 9,670,141 973, 200 6,662,065 554,812 sinking fund $76,980,571 529,553 14,434 868,314 307,389 478 126,879 10,307 5,701,837 38,251,901 104,309 235,036 63,064 165,000 18,423 25,252,085 116,876 158,388 785,511 673,493 921,839 2,611,706 $345,942,305 DEBT LESS SINKING FUND ASSETS. Amoimt. 13,132,375 3,064,818 1,236,066 10,222,744 3,173,949 7,110,451 763,122 619,199 6,934,202 2,143,314 2,272,620 1,350,305 356,670 243,121 4,441,867 13,546,150 1,254,998 7,333,913 79,551,090 7,089,092 1,345,290 4,460,519 4,671,218 1,512,874 374,394 607,695 1,955,611 642,069 1,218,209 86,205,247 8,058,430 820,424 5,142,042 6,930,243 30,852 5,126,815 6,190,036 370,000 11,811,640 4,656,499 1,429,694 569,906 22,043,145 1,556,012 2,251,000 122,375 Per capita. $3.57 5.95 13.28 0.76 3.83 3.70 6.12 3.70 0.77 2.57 5.92 0.39 0.49 0.16 0.14 1.90 7.89 1.67 5.56 22.78 2.41 0.63 2.41 1.40 3.73 0.31 6.70 4.50 0.24 3.41 9.06 3.54 1.29 1.05 3.74 0.04 9.02 3.98 0.58 5.32 1.14 3.62 1.58 10.46 1.21 0.93 0.77 Close of fiscal year. Sept. 30,1913 June 30,1913 Sept. 30,1912 June 30,1913 Nov. 30,1912 Sept. 30,1912 Dec. 31,1912 Dec. 31,1912 Sept. 30, 1912 Sept. 30, 1912 Sept. 30, 1912 Sept. 30, 1912 Jvme 30,1913 June 30,1913 June 30, 1913 Dec. 31, 1912 Dec. 31,1912 Sept. 30,1912 Nov. 30, 1912 June 30,1913 July 31,1912 Sept. 30,1912 Deo. 31,1912 Nov. 30,1912 Nov. 30, 1912 Dec. 31,1912 Aug. 31,1912 Oct. 31,1912 Nov. 30,1912 Sept. 30,1912 Nov. 30,1912 Oct. 31,1912 Nov. 15,1912 Nov. 30,1912 Sept. 30,1912 Nov. 30, 1912 Dec. 31,1912 Dec. 31,1912 June 30,1913 Dec. 20,1912 Aug. 31,1912 Nov. 30, 1912 June 30,1913 Sept. 30, 1912 Sept. 30, 1912 Sept. 30, 1912 June 30,1913 Sept. 30, 1912 1 Included with municipal debt. 28652°— 14 2 2 Sinking fund exceeds total debt by $126,351. 3 No debt reported in West Virginia (see text statement). (17) 18 WEALTH, DEBT, AND TAXATION. The total indebtedness of the 48 state governments on June 30, 1913, or the nearest date thereto, together with other items shown in Table 6, are presented in Table 1 in connection with the indebtedness of the National Government. In Table 6 the details by states briag out the extent to which states differ from each other in their indebtedness. The item which is most nearly comparable is that designated "per capita debt less sinking fund assets." The large per capita debt in Arizona, Massachusetts, and Virginia has already been explained and is further referred to in detail in the text pertaining to these three states, respectively. The following states show a per capita debt less sinking fund assets of less than $1: Arkansas, $0.76; Florida, $0.77; Illinois, $0.39; Indiana, $0.49; Iowa, $0.16; Kansas, $0.14; Minnesota, $0.63; Ne- braska, $0.31 ; New Jersey, $0.24; Oregon, $0.04; South Dakota, $0.58; Wisconsin, $0.93; and Wyoming, $0.77. West Virginia is shown as being without debt, but reference to the special text on West Virginia and Vir- ginia wiU show that ultimately West Virginia will be called upon to assume a considerable proportion of the indebtedness of Virginia, thus more nearly equalizing the reports for these two states. In the case of Penn- sylvania the sinking fund assets exceed the total debt by $126,351. Historical summary for the 48 states: 1870 to 1913. — The following statement (Table 7) gives for 1870 and 1880— and also for each year from 1890-91 to 1912-13 — the same data as shown in Table 6 for the year 1913. (Table 7 gives only the total for the 48 states, the details for each state being given separately in the following pages.) 1913. 1912. 1911. 1910, 1909 1908 1907. 1906 1905 1904 1903. 1902. 1901 1900 1899 1898, 1897, 1896. 1895. 1894. 1893-, 1892 1891, 1880. 1870. $422,796,625 376,114,098 347,041,981 322,948,868 300,494,024 290,029,635 279,768,751 281,411,192 278,135,397 272,493,578 266,926,910 274,148,756 262,247,074 265,133,041 261,118,967 253,957,941 237,043,590 226,702,714 225,488,146 233,146,225 240,175,835 249,266,723 258,195,056 306,016,561 352,866,698 Funded. $403,366,569 362,169,272 333,162,054 311,093,349 290,486,112 277,893,726 269,040,015 270,081,219 267,083,049 262,574,905 257,620,968 261,482,567 251,279,880 253,331,203 248,930,161 238,848,558 222,313,874 213,358,165 212,302,336 220,769,096 220,602,169 230,252,379 238,283,071 286,818,453 341,245,198 Bonds. $364,836,427 322,960,546 294,016,838 271,607,100 251,146,173 238,549,739 230,127,413 231,516,827 228,831,520 224,560,743 219,905,301 220,674,505 210,967,112 214,315,625 210,144,170 200,819,061 183,641,723 174,810,240 174,560,645 183,174,280 183,004,791 195, 253, 306 204,641,170 261,095,759 •313,887,639 Special debt to public trust funds. $38,530,142 39,198,726 39,136,216 39,486,249 39,339,939 39,343,987 38,912,602 38,564,392 38,251,529 38,014,162 37,716,667 40,808,062 40,312,768 39,015,578 38,785,991 38,029,507 38,672,151 38,647,925 37,741,691 37,594,816 37,697,378 34,999,073 33,641,901 25,722,694 27,357,559 Floating. $19,429,966 13,964,826 13,889,927 11,865,519 10,007,912 12,135,909 10,728,736 11,329,973 11,052,348 9,918,673 9,305,942 12,666,189 10,967,194 11,801,838 12,188,806 15,109,383 14, 729, 716 13,344,549 13,185,810 12,377,129 19,573,666 19,014,344 19,911,985 19,198,108 11,621,500 FUNDS AND INVESTMENTS. Total. $490,304,976 441,477,274 423,217,005 387,640,562 380,622,631 349,301,704 330,696,037 310,261,618 292,712,402 284,067,370 275,072,703 257,591,217 270,324,867 229,279,033 222,781,409 221,756,821 214,840,962 205,114,784 208,746,443 216,940,407 216,662,207 221,767,840 215,832,702 129,642,488 (10) Cash. $136,975,610 108,603,234 98,004,852 90,212,609 102,912,392 94,205,016 90,950,858 84,188,599 78,137,375 81,272,740 80,078,760 66,842,155 68,781,170 55,066,183 49,504,866 47,632,847 43,932,672 38,363,873 41,339,578 46,179,021 44,236,800 48,741,184 44,118,346 24,239,654 Securities. $353,329,365 332,874,040 325,212,153 297,327,963 277,710,239 255,096,688 239,745,179 226,073,019 214,575,027 202,794,630 194,993,943 190,749,062 211,543,697 174,212,850 173,276,543 174,122,974 170,908,290 166,750,911 167, 406, 865 170,761,386 172,426,407 173,016,656 171,714,356 105,302,834 Sinking fund assets. $76,980,571 76,451,848 71,177,988 66,813,710 59,355,095 50,665,306 44,501,415 42,952,929 39,264,804 36,846,091 34,791,189 34,859,467 33,856,273 29,821,060 32,602,117 30,049,746 28,358,779 28,123,908 31,271,660 37,429,077 38,124,440 43,518,777 46,984,569 31,270,789 DEBT LESS SDmNQ FDND ASSETS. Amount. 1 $346,942,305 2 299,763,423 3 276,919,983 < 256,143,276 241,138,929 239,374,329 235,267,336 238,458,263 238,870,593 235,647,487 232,135,721 '239,369,271 8-228,478,997 '236,453,594 8 228,571,048 223,908,195 208,684,811 198,578,806 194,216,486 8 196,194,298 202,061,395 205,747,946 211,210,487 274,745,772 362,866,698 Per capita. $3.57 3.15 2.96 2.78 2.67 2.70 2.70 2.79 2.85 2.86 2.88 3.03 2.95 3.10 3.07 3.06 2.90 2.8) 2.80 2.8S 3.03 3.14 3.37 5.48 9. IS • Sinking fund exceeds debt $126,351 — PennsylTania. 2 Sinking fund exceeds debt $101,173 — Pennsylvania. 8 Sinking fund exceeds debt 356,990— Pennsylvania. < Sinking fund exceeds debt $8,118 — Pennsylvania. 6 Sinking fund exceeds debt $79,982— New Jersey. « Sinking fund exceeds debt $88,196— New Jersey. ' Sinking fund exceeds debt $141,613 — New Jersey. 8 Sinking fund exceeds debt $54,198— New Jersey, s Sinking fund exceeds debt $477,150— Rhode Island. '» Not reported. INDEBTEDNESS OF THE INDIVIDUAL STATES. Classes of indebtedness. — Detailed exhibits of the indebtedness of states are shown for the 20 years 1893-94 to 1912-13,inclusive. In the tables presenting these state exhibits the debt obligations of the states are classified as funded and floating. In the text accompanying the tables there is shown an analysis of the indebtedness of each state for the fiscal year 1913 or that ending during the 12 months preceding June 30, 1913. A general idea is given of the classes of obHgations reported, the various amounts, and the purposes for which the debt was incurred. Viidei funded debt are included all those permanent and long-term debt obligations issued or assumed by the state, which bear a fixed rate of interest, and for the payment of whose principal or interest — one or both — the credit of the state is specifically pledged. The funded debt is subdivided into two classes — bonds and special debt obligations to public trust funds. Under "Bonds" are reported all long-term debt obli- gations, except such as are issued under conditions or for purposes requiring them to be classed as "Special debt obligations to public trust funds." Obligations of the latter class arise when a state having received in trust a gift of money or other property, and having converted the whole or a part of the gift so received to general public uses, assumes the annual payment of interest on the amotmt so converted. These special obhgations of certain states to the pubHc trust funds, though constituting a portion of the funded debt, are nonnegotiable and nontransferable debt obHgations, and a statement of commercial obligations of the states to be correct should omit this class of obligations. The floating debt is made up of all those debt obhga- tions for the payment of which the credit of the state is not specifically pledged by general law. These include outstanding warrants, temporary loans, short- term certificates, and private trust funds. The figures up to June 30, 1902, are taken from the last printed report on Wealth, Debt, and Taxation, issued by the Bureau of the Census in 1907. In some instances, from 1902 on, the method of reporting differs from the former report. For aU such changes an appropriate note will be foimd in connection with the state so affected. In a few cases the figures given in the tables differ from those found in the published reports of state authorities, which are prepared on a great many different bases. In the majority of states special obligations to public trust funds and all obli- gations to private trust funds are included as debt obligations. In other states these trust obligations are not included in statements of debt. To make the tables of state debt comparable, all tables of such debt are made to include an exhibit of all special obli- gations to public trust funds and all obligations to private trust funds. However, in no state are de- posits required by the state from insurance companies, etc., doing business in the state reported either as a debt or as an asset. In some states the reported state indebtedness includes also obhgations of counties, cities, and other minor civil divisions which have been assumed by the state. In Massachusetts and in Rhode Island the debt termed "contingent" has been incurred for the purpose of making improvements in cities and towns. These obligations, though included with the state debt proper, are met at the dates of maturity by funds maintained by the cities and towns benefited, through annual assessments. Both enabling acts admittiag Arizona and New Mexico as states contained provi- sions for the assumption by the states of the obhga- tions of counties and municipahties. In Arizona such obhgations were actually assumed, being refunded as state bonds and sold as such. In New Mexico bonds refunding the county debts were authorized, but none were issued at the close of the year reported. General treasury. casTi and assets of productive funds. — Immediately following the debt statement of each state there is presented a table exhibiting the general treasury cash and the assets of all productive funds of such state. These tables show for the 20 years (1893 to 1913, inclusive) detailed exhibits of sinking funds for all states which have established such a fund, all other funds reportiag securities, cash balances in general and special funds, and any productive assets which may be held by the state treasurer for the use and benefit of the general treas- ury. A great number of states iaclude all their pubhc trust funds among their assets, a few omitting some of them. In the tables here given all known productive assets, or assets of a knoWn value, have been included, although not shown in the published statements of the several states. In the text which follows are presented brief sum- mary statements descriptive of the purpose of these funds, their manner of estabhshment, sources of income, and the investments held by the funds. In the text relating to Maryland mention is made of unproductive assets held by the state. Under "Sinking funds" are tabulated the cash and productive assets of all funds which are provided for meeting the iaterest payments of states and for the redemption of state debts. (19) 20 WEALTH, DEBT, AND TAXATION. All other funds holding productive securities as in- vestments are tabulated separately. In no case, however, do the tables showing the assets held by funds include any statement of the value of the pubhc lands dedicated to the purpose of the funds, but which had not been converted into cash or invested securities. In some states the value of this omitted land greatly exceeds the value of all the assets reported. Under "Private trust funds " are included all funds of the state consisting of money or other property belong- ing to private individuals or corporations, or to other civil divisions, held temporarily by the state as trustee for the owner and for his benefit and not for meeting state expenses. No effort has been made to secure an exhibit of these funds for all states, only those which were shown by the published state reports having been tabulated. No deposits reiquired by the state from insurance companies, e.tc, doing busiaess in the state are reported, although some state reports include these amounts. ALABAMA. Fuvded debt. — On September 30, 1912, the fimded debt of Alabama consisted of bonds and special debt obligations to public trust fimds. The bonds out- standing on that date were issued for refunding or ex- changing earlier bonds, or for funding floating indebt- edness. The special debt obligations to public trust funds are the obligations of the state to the various educational funds, the principal of which has been used for meeting the general expenditures of the state. Floating debt. — ^The floating debt of the state on September 30, 1912, consisted of outstanding war- rants and a temporary loan of $100,000. Sixteenth section fuTvd.' — The constitution of Ala- bama provides that the income arising from the sale of sixteenth section lands shall be applied to the maintenance of the public schools. The state has Used the principal of this fund, but pays interest at the rate of 6 per cent. Surplus revenue fund.' — ^This fund consists of Ala- bama's share of the "unavailable funds" of the United States Treasury, which, in 1836, by act of Congress, were placed on deposit with the various states. The principal of the fund has been used by the state, but an amount equal to 4 per cent interest upon the same is, according to law, devoted to the maintenance of the public schools. Table 8 DEBT. 1 FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKDIO FUND ASSETS. FISCAL TEAR ENDINO Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $13,132,375 12; 649, 076 12, 619, 715 12,584,937 12,565,388 12,549,203 12,525,866 12,808,906 12,791,450 12,771,100 12,629,478 12,711,454 12,663,331 12,631,048 12,608,946 12,601,353 12,588,075 12,580,279 12,538,139 12,503,584 12, 497, 192 12,488,953 12, 438, 478 12,370,994 $12,644,097 12,570,631 12,656,982 12,553,784 12,539,634 12,524,044 12,513,983 12,795,309 12, 781, 486, 12,762,159 12,610,459 12,698,592 12,646,705 12,621,408 12,595,479 12,592,104 12,679,102 12,573,084 12,514,331 12,501,350 12,495,528 12,488,426 12, 437, 850 12,370,994 $9,057,000 9,057,000 9,057,000 9,057,000 9,057,000 9,057,000 9,057,000 9,357,600 9,357,600 9,357,600 9,357,600 9,357,600 9,357,600 9,357,600 9,357,600 9,357,600 9,357,600 9,354,600 9, 299, 400 9,293,400 9,293,400 9,293,400 9,249,900 9, 304, 221 $3,587,097 3,613,631 3,499,982 3,496,784 3,482,634 3,467,044 3,456,983 3,437,709 3,423,886 3,404,559 3,252,859 3,340,992 3,289,105 3,263,808 3,237,879 3,234,504 3,221,602 3,218,484 3,214,931 3,207,950 3,202,128 3,195,026 3,187,950 3,066,773 $488,278 78,445 62,733 31, 153 26,754 25,159 11,873 13,597 9,964 8,941 19,019 12,862 16,626 9,640 13,467 9,249 8,973 7,195 23,808 2,234 1,664 527 628 $3,849,149 3,520,702 3,933,454 4,208,809 4,843,468 5,286,781 5,283,309 4,852,839 4,615,610 4,398,616 3,982,211 3,842,351 3,926,498 3,434,838 3,313,122 3,275,484 3,279,821 3,236,851 3,258,556 3,287,207 3,404,525 3,371,592 3,521,139 3,294,826 $262,052 7,071 433,472 712,025 1,360,834 1,819,737 1,826,326 1,415,130 1,191,624 994,057 729,352 501,359 637,393 171,030 75,243 40,980 68,319 18,367 43,625 79,257 202,397 176,566 333, 189 228,053 $3,587,097 3,513,631 3,499,982 3,496,784 3,482,634 3,467,044 3,456,983 3,437,709 3,423,886 3,404,569 3,252,859 3,340,992 3,289,105 3,263,808 3,237,879 3,234,504 3,221,502 3,318,484 3,214,931 3,207,950 3,202,128 3,195,026 3,187,950 3,066,773 $13,132,375 12,649,076 12,619,715 12,584,937 12,565,388 12,649,203 12,525,856 12,808,906 12,791,450 12,771,100 12,629,478 12,711,454 12,663,331 12,631,048 12,608,946 12,601,353 12,588,075 12,580,279 12,538,139 12,503,584 12,497,192 12,488,953 12,438,478 12,370,994 $5.95 1911 1910 5 88 1909 1908 6 04 1907 1906 6 20 1905 1904 6 54 1903. 6.63 6.67 6.82 6.91 1902 1901 1900 1899 1898 7.13 7.26 7.38 7.52 7.64 7.76 7.91 8.07 8.22 9.80 1897 1896 1895 1894 1893 1892 1891 1890 1880 ^ School indemnity land fund.' — This fund represents the proceeds of the sale of land certified to the state by the United States Government for the use and benefit of the townships in which the amount of land originally certified to the state for school purposes was inadequate. This fund is held by the state, but no interest is allowed thereon. University fund. — This fund was derived from sales of land originally granted by Congress, and of 46,080 acres of state lands ; the state has used the principal and pays 8 per cent interest thereon. Aiter the erection of certain buildings this fund is to be applied to the endowment of the university. Agricultural and mechanical college fund. — This fund NATIONAL AND STATE INDEBTEDNESS. 21 was derived from the sale of land scrip given in trust to the state by an act of Congress approved July 2, 1862. The state' has absorbed the prkicipal of this fund, but has forever pledged its faith and credit to pay 8 per cent interest thereon for the benefit of the college. General and special funds. — ^The reports of the state auditor and treasurer make mention of a number of special administrative funds whose only assets were cash on hand. AH these are consolidated under the designation "General and special funds." Table 8 gives a summary of the debt, funds and investments, and sinking fund assets for each year from 1890 to 1912, inclusive, and also data for 1880. In each year the total debt is shown together with the principal general classes thereof. The same is true in the case of funds and investments. The table also shows for each year indicated the total and per capita debt less sinking fund assets. In arriving at the per capita debt, estimates of popula- tion based on the average percentage of increase have been used. An inspection of the table shows that both bonds and special debt obligations to public trust funds have remained nearly constant throughout the period covered. Slight fluctuations in floating debt are to be noted. In the case of funds and investments it will also be noted that the securities have remained nearly con- stant in amount throughout the period, a very slight increase being noted. The cash item naturally has fluctuated more or less from year to year. No sinking fund assets, as such, are recorded in any year, thus leaving the debt less sinking fund assets the same as the total debt. On the other hand, the population of the state has been incrfeasing gradually, resulting in a very material decrease- in the per capita debt for the state. In the 10-year period prior to 1890 the per capita debt was reduced from $9.80 to $8.22; during the next decade, in 1900, it was further reduced to $6.91 ; by 1910 it was only $5.88. A slight increase is noted for 1912 because of the correspond- ing increase in the floating debt. ARIZONA. Funded deU.~On June 30, 1913, the funded debt of Arizona consisted wholly of bonds, of which the greater portion were issued for funding purposes. Of such bonds, $2,098,303 were issued to fund county and city indebtedness held at a very high rate of interest. As the credit of the territory was higher than the counties and cities holding these bonds, it obtained a much lower rate of interest and refunded them for a longer period, at the same time guaranteeing the payment of the bonds. To provide for the payment of the prin- cipal and interest, the state board of equahzation de- termines the tax levies of the several counties and cities. Five series of bonds were issued for piurposes other than funding, as foUows: Capitol buUding, $100,000; university, $25,000; St. Louis Exposition, $30,000; insane asylum, $20,000; and university experiment station, $11,000. Xable 9 DEBT. FUNDS AND INVESTMENTS, Sinking fund assets. DEBT LESS SINKmQ FUND ASSETS LESS FISCAL TEAR ENDING JUNE 30— Total. Funded. Floating. Total. Cash. Securi- ties. DEBT LESS SINKING rUND ASSETS. COUNTY AND CITY DEBT GUARAN- TEED BY STATE. AND INCLUDED IN STATE DEBT. Total. Bonds. Special debt to public trust funds. Amount. Per capita. Amount. Per capita. 1913 13,594,371 3,087,262 (1) $3,528,275 3,045,275 $3,528,275 3,045,275 $66,096 41,987 $1,034,083 411,442 519,950 $1,034,083 411, 442 619,960 $529,553 34,842 24,842 $3,064,818 3,062,420 $13.28 13.71 $966,515 954,117 $4.19 4.29 1912 1911 19101 ^ 1909> 1908 3,117,126 (1) (■) 3,113,275 3,113,275 3,851 436,325 365,016 273,838 436,325 365,016 273,838 8,368 647 2,134 3,108,768 8 16.40 1,008,455 8 5.32 1907 1906 1905' 1904 3,058,422 3,096,597 2,729,839 3,055,2f5 3,008,000 2,610,000 3,055,275 3,008,000 2,610,000 3,i47 88,597 119,839 189,294 177,763 143,954 189,294 177,763 143,954 1,113 1,009 3,486 3,057,309 3,095,588 2,726,353 19.62 20.87 19.46 1,013,006 1,078,660 1,092,325 6.47 7.27 7.80 1903 1902 19011 1900 2,761,711 2,637,000 2,637,000 124,711 96,300 96,300 1,085 2,760,626 22.33 1,126,598 9.11 18991 1898 2,935,113 2,680,000 2,680,000 255,113 351,140 351,140 171 2,934,942 25.24 1,300,914 11.19 18971 1896 = 2,340,616 2,121,000 2,121,000 219, 616 79,830 79,830 2,340,616 21.41 965,716 8.83 18951 1894 2,206,524 2,036,000 2,036,000 170,524 2,206,624 21.55 871,624 8.51 18931 1892 .. . 810,241 581,000 581,000 229,241 68,443 58, 443 15,393 794,848 8.33 794,848 8.33 18911 1890 757,159 633,000 633,000 124, 159 767,159 8.68 757, 159 18801 ' Not reported. 22 WEALTH, DEBT, AND TAXATION. Floating debt. — The only floating debt consists of outstanding warrants, the amount of which was $66,096 for the year ending June 30, 1913. Sinking fund. — In Arizona the sinking fund is an administrative fund for paying outstanding indebted- ness and the interest thereon. Its only assets are un- expended cash balances. General and special funds. — ^Under this heading are included all administrative funds whose only assets are unexpended cash balances. Table 9 gives a biennial summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1902, and also summaries for 1903, 1904, 1908, 1912, and 1913. In each year the total debt is shown, together with the general classes thereof. Corresponding data are shown for funds and investments including the years 1906, 1907, and 1911, for which years no reports on debt were obtained. The table also shows for each year indicated the total and per capita debt less sinking fund assets and the total and per capita debt less sinking fund assets less county and city debt guaranteed by state. In arriving at the ner capita debt, estimates of popu- lation based on the average percentage of increase have been used. An inspection of the table shows that there were new bond issues for a majority of the years reported. The greatest increase in the indebtedness was between the years 1892 and 1894. This is due to a large extent to the refunding by the state of the debts of counties and cities. The floating debt has been decreased until there is only a small amount in outstanding warrants. No investments are reported, and it will be noted that for the period covered the cash increased very materially. The sinking fund assets fluctuated, never being very large until the year 1913, when nearly $330,000 was on hand. This is due to the fact that $500,000 in bonds were not presented when due, the money being held for their payment at the close of the fiscal year. The per capita debt of the state has decreased from $25.24 in 1898 to $13.28 in 1913, due largely to the continued increase of population. For the same period, for the debt less sinking fund assets less county and city debt, the per capita debt was reduced from $11.19 to $4.1 9. ARKANSAS. Funded debt. — On September 30, 1912, the funded debt of Arkansas consisted of only one series of bonds, issued in 1899, at which time the total debt of the state was refunded. These bonds are all held by the per- manent school fund. Floating debt. — There is no floating debt reported. Sinking fund. — This fund consists of a cash balance, raised by taxation and held for the reduction of the principal of the state debt and for payment of interest thereon. Table 10 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKINQ FUND ASSETS. FISCAL YEAR ENI>ING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special. debt to public trust funds. Per capita. 1912 $1,250,500 $1,250,500 $1,250,500 $2,052,249 $801,749 $1,250,600 $14,434 $1,236,066 $0.76 19H1 1,250,500 1,250,500 1,250,500 1,887,319 636,819 1,250,500 91,827 1,158,673 0.73 1909 ' 1908 1,260,500 1,250,600 1,250,500 2,308,974 1,058,474 1,250,500 164,311 1,086,189 71 1907' 1906 1,271,550 1,271,000 1,271,000 550 2,262,726 1,002,676 1,260,050 164,906 1,106,644 75 1905 > 1904 1,271,962 1,271,000 1,271,000 962 2,418,713 1,170,251 1,248,462 105,314 1,166,648 19031 1902 . 1,256,962 1,256,000 1,256,000 962 2,241,003 1,010,041 1,230,962 65,580 1,191,382 1901> 1900 1,329,549 1,329,000 1,329,000 649 1,585,472 463,967 1,121,605 7,306 1,322,243 1.01 18991.. 1,566,129 882,000 882,000 684,129 1,619,980 486,948 1,133,032 16,454 1,549,675 1.21 1897 J . 1896 4,017,008 1,576,000 1,576,000 2,441,008 1,540,933 557,941 982,992 74,679 3,942,329 3.18 1895' 1894 . 4,671,825 1,805,000 1,805,000 2,866,825 1,395,368 424,686 970,682 7,747 4,664,078 3.88 18931 1892 4,975,449 1,931,100 1,931,100 3,044,349 1,245,217 394,161 851,056 16,947 4,958,502 4.25 1891 1 1890 6,451,780 6,844,550 2,092,100 3,068,500 2,092,100 3,068,500 3,359,680 3,776,050 1,616,301 1,823,711 435,977 139,566 1,180,324 1,684,145 8,972 55,578 5,442,808 6,788,972 4.82 S.4S 1880 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. 23 Permajient school fund. — The principal of 1;he per- manent school fund consists of the proceeds from sales of sixteenth section lands and of aU other lands or property belonging to any fund for purposes of educa- tion; the proceeds from sales of property that may escheat to the state; and all grants, gifts, or devises that may be made to the state and not otherwise ap- propriated. Arkansas bonds are the only investments of the fund. The income from these bonds, together with the annual taxes assessed and the annual revenues of the state set apart for such purpose, is devoted to the maintenance of the pubHc schools. University permanent endowment fund. — ^This fund consists of the proceeds from the sale of county and municipal bonds held in trust by the state for the Uni- versity of Arkansas, and is invested in Arkansas bonds. General and special funds. — In the general and spe- cial administrative funds the treasurer carries besides cash balances some county scrip. Table 10 gives a biennial summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also a summary for 1880. In each year the total debt is shown, together with the general classes thereof. Corresponding data are shown for the funds and investments. The table also shows for each year indicated the total and per capita debt less sinking fund assets. In arriving at the per capita debt, estimates of popula- tion based on the average percentage of increase have been used. An inspection of the table shows a steady decrease in the bonded indebtedness from 1880 to 1898. In 1900 there was an additional issue of $447,000, while in 1902 the total was reduCed by $73,000. During the remainder of the period the funded debt is ap- proximately the same. The floating debt decreased steadily from 1880 to 1900, increased shghtly in 1902, and disappeared altogether after 1906. The cash has naturally fluctuated more or less from year to year; the securities were increased by $109,457 in 1902, since which time there has been no material change. In the case of sinking fund assets they have never been very large and do not appreciably affect the debt. However, the natural increase in the population of -the state has resulted in a material decrease in the per capita debt. In the 10-year period prior to 1890 the per capita debt was reduced from $8.46 to $4.82; during the balance of the period it was stiU further reduced, and in 1912 was only $0.76. CALIFORNIA. Funded debt. — On June 30, 1913, the funded debt of California consisted of bonds and special debt obhga- tioris to the permanent fund of the state university. One of the five series of bonds is an old issue, pre- sumed to be lost, and the interest has ceased. Re- funding bonds, amounting to $2,277,500, are held by the school and university funds, and, though these bonds were due in 1893, interest is paid on them at the rate of 6 per cent. There are three series of bonds issued for purposes other than funding — San Francisco sea wall bonds, $2,000,000; San Francisco Harbor im- provement, $1,858,000; and state highway, $3,959,000. State highway bonds to the amount of $100,000 are held by the state school fund, and San Francisco sea wall bonds, amounting to $12,000, by the sea wall sinking fund. Floating debt. — ^The floating debt of the state con- sists of outstanding warrants, payable at the pleas- ure of the state, and of private trust UabHities. Sinking funds. — California has four sinking funds, which consist of moneys derived from taxation, and the assets are held to meet the interest on the outstand- ing bonds of the state, and to redeem the principal thereof. The San Francisco sea wall fund is the only sinking fund holding assets other than cash balances. The principal of this fund is invested in California state, county, and municipal bonds. State school fund. — ^The principal of the state school fund is made up of the proceeds of sales of school lands belonging to the state and is invested in bonds of the state, counties, cities, and school districts of Cahfornia. This fund also receives the income from the estates of deceased persons fund, the principal of which is invested in city and school district bonds and held in trust by the state for the school fund. University /u?mZ.— The permanent endowment fund of the state university is derived from the sale of 202,- 480 acres of land granted by acts of Congress, and certain real estate in Oakland. In this fund are in- cluded also $100,000 paid into the state treasury by a private individual for the use of the university, on which the state guaranteed to pay to the university interest at 7 per cent. The investments of this fund consist of state bonds and a special obUgation of the state in the sum of $79,750, upon which the state treasurer is directed to pay 6 per cent annual interest until the state elects to return the amount to the endowment fund of the university. Dissolved savings bank fund. — This fund is made up of any funds of savings banks, trust companies, or banks of deposit which may be held by any person or corporation at the end of five years after such bank has ceased to receive deposits or do business. The principal of this fund is invested in county bonds. General and special funds. — ^AU the cash carried in the several administrative funds of the state is reported under the designation "General and special funds." Table 11 gives a summary of the debt, funds and investments, and sinking fund assets, from 1892 to 1913, and also for 1880. 24 WEALTH, DEBT, AND TAXATION. In each year the total debt is shown, together with the general classes thereof. Corresponding data are shown for funds and investments and the total and per capita debt less sinking fund assets. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. Table 11 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL YEAR ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust lunds. Per capita. 1913 $11,091,058 6,643,984 $10,178,250 6,761,250 $10,098,500 5,681,600 $79,750 79,760 $912,808 882, 734 $21,054,915 18,140,209 $12,058,040 9,903,534 $8,996,875 8,236,675 $868,314 650,500 $10,522,744 5,993,484 $3.83 1912. 2.33 19111 . 1910 6,791,405 4,961,250 4,881,600 79,750 830,166 16,501,095 7,201,220 8,299,875 898,221 4,893,184 2.04 19091 1908 3,853,128 3,211,250 3,131,500 79,750 641,878 14,004,456 7,306,131 6,698,325 693,271 3,259,857 1.47 19071 1906 3,635,464 3,211,250 3,131,600 79, 750 324, 214 12,433,778 6,509,028 5,924,760 540,789 2,9B'.,675 1.47 19051 1904 1 3,493,700 2,961,250 2,881,500 79,750 632,460 10,463,247 4,981,747 6,481,500 436,209 3,057,491 1.65 19031 1902 3,174,458 2,961,250 2,881,500 79,750 213,208 9,868,620 5,194,670 4,673,950 370,289 2,804,169 1.68 19011 1900 3,159,764 2,961,250 2,881,600 79,750 198,514 9,903,430 6,021,980 4,881,450 315,679 2,844,186 1.91 18991 1898 3,132,064 2,961,260 2,881,500 79,750 170,814 8,988,134 4,071,184 4,916,950 406,399 2,725,666 1.90 18971 1896 . 3,345,512 2,962,250 2,882,600 79, 750 383,262 9,990,206 6,112,166 4,878,050 329,307 3,016,206 2.19 18951 1894 2,516,471 2,362,260 2,282,600 79,760 154,221 7,549,662 2,666,012 4,883,650 211,482 2,304,989 1.74 18931 1892 i. ... 2,856,389 2,612,75 2,633,000 79,760 243,639 7,778,974 3,261,474 4,527,500 170,977 2,685,412 2.11 18911 18901 1830 3,403,000 3,403,000 3,403,000 4,413,098 1,082,298 3,330,800 269,786 3,133,216 1 Not reported. An inspection of the table shows the bonds to have remained practically the same until the last three years, in which years there were large increases. The special debt obligation remained the same for the entire period, and the»floalting debt shows a material increase. In the funds and investments it will be noted that securities and cash increased steadily. The sinking fund assets show a gradual increase from 1892 to 1913 and materially reduce the actual indebtedness. The per capita debt shows an increase for the period covered, due to the increase in the debt. From 1880 to 1908 it fell from $3.62 to $1.47, the lowest figure reached. Beginning with 1910 it has steadily increased and is $3.83 in 1913. COLORADO. Funded debt. — On November 30, 1912, the funded debt of Colorado consisted of two series of bonds, both issued for funding purposes — one to fund indebted- ness of the state incurred in suppressing the Leadville riots and protecting the state during the years 1896 and 1897, the other for the purpose of redeeming the outstanding certificates and other evidence of indebt- edness emanating from the insurrection of 1903 and 1904. The school fund holds these bonds to the amount of $645,300. Floating delt. — ^In 1912 the floating debt was made up of outstanding warrants and outstanding certifi- cates of indebtedness. The several state funds hold warrants amounting to $1,560,838. Sinking fund. — ^All cash held by the sinking fund has been used for the redemption of bonds. School fund. — ^The school fund of the state consists of the proceeds from the sale of the sixteenth and thirty-sixth sections of each township, granted by Con- gress in the enabling act of 1875; the proceeds from the sale of estates that may escheant to the state; and aU grants, gifts, or devises that may be made for edu- cational purposes. Only the interest on this fund is to be expended in the maintenance of public schools of the state, the principal being preserved inviolate. The constitution provides that the state shall supply all losses that may in any maimer be sustained by this fund. University fund.— Th& university fund consists of the proceeds from the sale of 72 sections of land donated by Congress, in the enabling act of ■ 1875, for the use and support of a state university. Only the income of this fund is used for the general purposes of the university, the principal being held inviolate. Agricultural college fund. —The principal of this fund was derived from the sale of land donated by an act of Congress approved July 2, 1862, and acts supplemental thereto, which granted the several states land or its equivalent in scrip to an amount equal to 30,000 acres for each Senator and Representative in Congress. NATIONAL AND STATE INDEBTEDNESS. 25 Internal improvement fund. — The principal of this fund is derived from the operation of certain provisions of the enabling act of Congress, March 3, 1875. That act provided that 5 per cent of the net proceeds of the sale of agricultural public lands lying withia the state of Colorado, which are sold by the United States Gov- ernment subsequent to the admission of the state to the Union, are to be paid to the state for the purpose of making such internal improvements as the legislature may direct. Internal improvement land income fund. — ^The assets of this fund are derived from the proceeds of the sale of land granted by the United States to the state of Colorado for specific purposes; they can not be trans- ferred to any other- fund, or appropriated to any purpose other than that for which granted. General and special funds. — The state treasurer re- ports a large number of general and special funds holding cash balances as their only asset. These funds are aU consolidated under the heading of "General and special funds." Table 12 gives a biennial summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Table 12 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL YEAR ENDraG NOV. 30 — Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $3,173*949 $1,144,400 $1,144,400 $2,029,549 $4,260,014 $2,043,876 $2,206,138 $3,173,949 $3.70 19111 1910. . . 3,065,873 1,120,300 1,120,300 1,945,673 3,309,321 1,497,012 1,812,309 $50,100 3,015,773 3.75 19091 1908 2,959,995 393,500 393,600 2,566,495 2,820,269 1,464,283 1,366,986 108,634 2,851,361 3.79 19071 1906 3,497,384 693,500 693,600 2,803,884 2,814,071 1,361,424 1,452,647 337,927 3,159,467 4.52 19051 1904 3,668,510 993,600 993,500 2,675,010 2,515,701 998,145 1,517,566 443,761 3,224,749 4.98 19031 1902 3,129,331 993,500 993,500 2,135,831 2,086,995 749,928 1,337,067 164,953 2,964,378 4.99 19011 1900 3,663,098 993,500 993,500 2,669,598 1,881,766 . 806,661 1,075,215 26,311 3,636,787 6.71 18991 1898 3,577,943 993,500 993,500 2,584,443 1,772,740 489,370 1,283,370 3,577,943 6.94 18971 1896 3,157,509 770,500 770,500 2,387,009 1,736,866 604,120 1,231,746 3,167,509 6.44 18961 1894 3,088,289 600,000 600,000 2,488,289 1,882,067 568,000 1,314,087 3,088,289 6.64 18931 1892 2,119,451 600,000 600,000 1,519,451 2,027,024 850,061 1,176,973 2,119,451 4.82 18911 1890 1,647,155 146,338 150,000 160,000 1,497,155 146,338 2,045,338 87,997 1,047,304 67,147 998,034 20,860 1,647,165 146,338 3.99 IfiSO 0.75 1 Not reported. Corresponding data are shown for funds and invest- ments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, esti- mates of population based on the average percentage of increase have been used. An inspection of the table shows that the bonded indebtedness is approximately the same until 1908, when it is reduced almost one-half, while in 1910 there was a material increase. There is no appre- ciable change in the amount of the floating debt dur- ing the 20-year period. In the fimds and investments the cash fluctuated between $489,370 and $998,145 from 1892 to 1904; during the other years it was more than $1,000,000, reaching $2,000,000 in 1912. The securities show little variation during the two decennial periods. From 1900 to 1910 the state had a sinking fund, which reached its maximum, $443,761, in 1904; during the other years the total debt was unchanged. In 1880 the per capita debt was only $0.75, increasing to $6.94 in 1898, but subsequently decreasing to $3.70 in 1912, these fluctuations • being due largely to the changes in population. CONNECTICUT. Funded debt.— On September 30, 1912, the funded debt of Connecticut consisted of one bond of an old issue upon which the interest has ceased, and two series of bonds bearing interest; one, amounting to $3,064,000, for public buildings and highways, and the other, $4,000,000, for misceUaneous purposes. Floating debt. — The floating debt of the state is made up of outstanding warrants and of a number of obligations in the nature of private trusts on account of moneys received for sundry purposes and carried on the state treasurer's books as "Special funds and accounts." 26 WEALTH, DEBT, AND TAXATION. School fund. — ^The constitution of Connecticut re- quires that the school fund shall be a perpetual fund, the income of which shall be used for the support of t^ common schools throughout the state. The income of this fund, after deducting all expenses attending its management, is annually divided and distributed by the state comptroller among the several towns in pro- portion to their school population. Bank stock, bonds, notes and mortgages, and real estate constitute the investments of the fund. Agricultural college fund. — The income of this fund is paid to the Storrs Agricultural College. The prin- cipal is invested in bonds and mortgages. Private trust funds. — ^These consist of small amounts of money temporarily deposited with the state treasurer — as (1) balances paid in by receivers of defunctr-banks, insurance companies, and other cor- porations;- (2) special deposits required by state statutes; and (3) certain moneys belonging to the towns and counties. The cash belonging to these accounts is merged by the treasurer with any state cash on hand. General and special funds. — ^The cash balances of the general fund and of several special administrative funds are consolidated under the title "General and special funds." Table 13 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year the total and per capita debt less sinking fund assets are in- cluded in the table. In arriving at the per capita debt, estimates of population based upon the average percentage of increase have been used. Table 13 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAR ENDING Total. Funded. Floating Total. Cash. Securities Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $7,110,451 4,267,087 4,349,788 2,122,165 924,053 904,269 1,013,482 968,293 969,074 1,093,189 1,679,789 2,157,70a 3,161,155 3,265,064 3,263,440 3,261,665 3,256,606 3,256,617 3,256,585 3,256,616 3,256,572 3,559,180 3,761,232 4,967,600 $7,064,100 3,084,100 2,894,100 1,874,100 874,100 876,100 882,100 942, 100 952,100 1,077,100 1,663,100 2,131,100 3,140,100 3,240,100 3,240,100 3,240,200 3,240,200 3,240,200 3,240,200 3,240,200 3,240,200 3,540,200 3,740,200 4,967,600 $7,064,100 3,084,100 2,894,100 1,874,100 874,100 876,100 882,100 942,100 952,100 1,077,100 1,663,100 2,131,100 3,140,100 3,240,100 3,240,100 3,240,200 3,240,200 3,240,200 3,240,200 3,240,200 3,240,200 3,540,200 3,740,200 4,967,600 $46,351 1,192,987 1,455,686 ?48,055 49,953 28,169 131,382 16,193 16,974 16,089 16,689 26,608 21,055 24,964 23,340 21,465 16,406 16,417 16,385 16,416 16,372 18,980 21,032 $4,446,270 2,640,594 3,424,378 2,323,684 2,452,522 3,261,631 2,840,830 2,731,608 2,859,738 2,755,619 2,826,507 2,551,655 3,321,611 2,979,858 2,789,438 2,592,990 2,842,020 3,038,115 3,123,032 3,184,818 3,217,747 3,128,005 3,298,669 $2,424,202 537,544 1,340,892 234,765 478,515 1,258,846 842,929 748,444 861,568 738,347 680,397 657,047 1,182,125 888,764 680,750 (') 480,567 779,980 936,433 982,091 1,086,174 1,076,663 1,008,513 1,171,046 $2,022,068 2,103,050 2,083,486 2,088,919 1,974,007 2,002,785 1,997,901 1,985,084 1,998,170 2,017,272 2,146,110 1,994,608 2, 139, 486 2,091,094 2,108,688 (') 2,112,423 2,082,040 2,102,682 2,140,941 2,118,844 2, 141, 194 2,121,492 2,127,613 $7,110,451 4,267,087 4,349,786 2,122,165 924,053 904,269 1,013,482 958,293 969,074 1,093,189 1,679,789 2,157,708 3,161,155 3,265,064 3,263,440 3,281,665 3,256,606 3,256,617 3,256,585 3,256,616 3,256,572 3,559,180 3,761,232 4,967,600 $8.12 1911 3.73 1910 3.89 1909 1.93 1908 0.86 1907 0.88 1906 0.98 1905 0.94 1904 0.98 1903 1.12 1902 1.76 1901 2.32 1900 . . 3.47 1899 3.65 1898 . .. 3.72 1897 3.79 1896 3.85 1895 3.93 1894 4 01 1893 4 09 1892 4 17 1891^ 4 68 1890.... 5 04 1880 7.98 1 Not reported. An inspection of the table shows that there is no appreciable change in the bonded indebtedness until 1902, when it declined steadily until 1908. Beginning with 1909 there was an annual increase, and in 1912 the bonds outstanding amounted to $7,064,100. The floating debt fluctuated slightly, attaining its largest proportions in 1910 and 1911. In the report of funds and investments the securities show only slight changes, while the fluctuations in cash are more marked. No sinking fund assets, as such, are recorded in any year, thus leaving the debt less sinking fund assets the same as the total debt. The»per capita debt was lowest from 1904 to 1908, due to the reduction in the funded debt and the steadily increasing population. The debt per capita reflected the fluctuations of the debt less sinking fund assets, decreasing regularly from $7.98 in 1880 to $0.86 in 1907, and increasing very rapidly to $6.12 in 1912. DELAWARE. Funded debt. — On December 31, 1912, the outstand- ing funded debt of Delaware consisted of six series of negotiable bonds, a nonnegotiable bond issued to the school fund, and a nonnegotiable certificate issued to the Delaware College fund, the two latter being classed as special debt obligations to public trust funds. Two of the series, amounting to $245,000 and $230,000, were issued to refund old bonds; whUe a third consists of certificates of indebtedness to the amount of $20,000, issued to the sinking fund to take the place of refund- NATIONAL AND STATE INDEBTEDNESS. ^ ing bonds of 1907, held by the sinking fund as an in- vestment until canceled in 1909. The remaining issues are for very small amounts and were issued for the following purposes: Hospital improvement, pur- chaseof experimental farm, andbuildings and repairs on same. Each of the following funds holds state bonds to the amount of $5,000: Sinking fund, free school fund, and railroad and railway guaranty deposit fund. Floating debt. — No floating debt is reported for Del- aware for 1912. SinTcing fund. — In Delaware the sinking fund, hold- ing state, county, and municipal bonds as assets, exists for the payment of the interest on state bonds and for the ultimate redemption of the principal thereof. Free school fund. — The nucleus of the free school fund was Delaware's share of the "unavailable funds" of the General Treasury distributed to the states under act of Congress. In 1912 the investments of the fund consisted of state bonds, bank stock, a small cash balance, and an obligation of the state in the form of a nonnegotiable bond issued to the fund. Delaware College fund. — This fund was derived from the sale of land scrip, donated by Congress for the establishment of a coUege of agriculture and the me- chanic arts. Its only asset is a certificate of perma- nent and perpetual indebtedness, issued by the state to the trustees of Delaware College. Railroad and railway guaranty deposit fund. — This fund consists of amounts which have been deposited with the state treasurer as guaranties of good faith by companies proposing to build faUways in the state, but which have been forfeited to the state because of failures on the part of the depositing companies to ful- fill the conditions of the law. The greater part of the fund has been invested in state, county, and municipal bonds and in bank stock, leaving but a very small cash balance. General and special funds. — The cash balances of some special funds are consolidated with the balance in the general fund. Table 14 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. rrable 14 DEBT. PISCAL TBAR ENDING DEC 31 Total. Funded. Floating. Total. Bonds. Special debt to public trust lunds. 1912 $826,786 826, 786 826,785 826,785 816,786 816,785 766,786 756,785 769,760 769,750 769,750 769,750 769,750 769,750 819,750 844,760 719,760 719,750 684,760 684,750 684,750 684, 750 899,750 930,000 $826,785 826, 785 826,786 826,785 816,786 816,785 756,785 756,785 769,760 769,750 769,750 769,750 769,750 769,750 769,760 844,750 719,750 719,750 684,750 684,760 684,760 684, 750 899,750 930,000 $565,000 565,000 666,000 565,000 655,000 555,000 495,000 496,000 630,000 530,000 630,000 530,000 630,000 530,000 630,000 605,000 480,000 480,000 445,000 445,000 446,000 446,000 660,000 847,000 $261,785 261,785 261,785 261,785 261. 785 261,785 261,785 261. 786 239, 750 239,750 239, 760 239,750 239,750 239,750 239,750 239,750 239,760 239,750 239,750 239,760 239,750 239,750 239,750 83,000 1911 . .. 1910 1909 1908. 1907 1906 1905 . . 1904 1903 1902 . . .. 1901 1900 1899 1898 $60,000 1897 1896 - . 1895 1894 1893 1892 1891 1890 1880 FUNDS AND INVESTMENTS. Total. $1,628,223 1,673,696 1,590,780 1,598,806 1,683,751 1,534,665 1,502,508 1,441,752 1,458,561 1,447,001 1,448,223 1,409,622 1,211,446 1,158,306 1,153,094 1,203,816 (') 1,180,929 (') 1,134,397 (') 1,186,543 1,333,553 1,239,705 Cash. $93,316 50,689 81,873 97, 899 147,344 118, 168 87,697 49,090 67,039 64,785 70,951 32,250 97,904 48,376 49,264 96,364 (') 64,252 0) 19,555 W 71, 701 99,653 47,461 Securities. $1,534,907 1,522,907 1,508,907 1,500,907 1,436,407 1,416,407 1,414,811 1,392,662 1,391,522 1,392,216 1,377,272 1,377,272 1,113,542 1,109,930 1,103,840 1,107,452 (') 1,116,677 (') 1,114,842 (') 1,114,842 1,233,900 1,192,244 Sinking fund assets. $63,663 62,588 38, 772 31,683 25,412 20,662 9,649 4,662 12,003 11,464 7,668 5,381 4,009 4,484 3,323 2,992 Pi 4,529 ('5 3,180 O 400 12, 177 24,539 DEBT LESS SINKINQ FUND ASSETS. Amount. $763, 122 774, 197 788,013 795,102 791,373 796,123 747, 136 752, 123 757, 747 758,296 762,092 764,369 765, 741 765,266 816,427 841, 758 719,760 716,221 684, 760 681,570 684, 760 684,360 887,573 905,461 Per capita. $3.70 3.79 3.89 3.96 3.97 4.03 3.82 3.88 3.95 4.04 4.09 4.11 4.18 4.50 4.68 4.04 4.06 3.91 3.93 3.98 4.02 5.2T 6.13 1 Not reported. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, esti- mates of population based on the average percentage of increase have been used. An inspection of the table shows that both bonds and special debt obligations to public trust funds have remained approximately the same throughout the period covered. It should be noted that there has been no report of the floating debt except for the year 1898. In the report of funds and investments the amount of securities has remained practically the same, while the cash shows the natural fluctuations. The sinking fund assets are small, therefore the debt less sinking fund assets does not materially differ from the total debt. There is comparatively little change in the per capita debt from 1891 to 1912. 28 WEALTH; DEBT, AND TAXATION. FLORIDA. Funded debt. — On December 31, 1912, the funded debt of Florida, amounting to $601,567, consisted of but two series of bonds, both issued for refunding purposes. AH of these bonds are held by the state educational funds, in the following amounts: State school fund, $368,167; seminary fund, $97,600; and the agricultural college fund, $135,800. Floating debt. — The only floating debt reported for Florida consists of outstanding warrants, amounting to $17,632. State scThool fwnd. — The principal of this fund, which must forever remain inviolate, has been derived mostly from the sale of sixteenth section land, though there are other sources from which it may be derived, namely: Donations to the state when the purpose is not specified; state appropriations; escheated property or forfeitures ; and a percentage from the sales of public land owned by the state. According to law, the fund is invested only in bonds, the present investments being Florida state, county, and municipal bonds, and' bonds of other states. The interest from the bonds is dis- tributed annually among the counties. Seminary fund. — The principal of this fund consists of the proceeds from sales of lands granted by the United States to the state to create a permanent fund for the use of two seminaries, one to be located east and the other west of the Suwaimee River. This fund is invested in Florida bonds and in other state bonds, and the interest from these bonds is equally divided between the University of Florida and the Florida State College for Women. Agricultural college fund. — This fund was derived from the sales, of lands granted to the state by Congress, the proceeds of which are invested in Florida state and city bonds and in bonds of other states. The interest from these bonds is applied to the expenses of the University of Florida, successor to the Florida Agricultural College. General arid special funds. — The cash balances avail- able for meeting the current expenses of the state are carried in a large number of funds, all of which are consolidated under the single heading "General and special funds." Table 15 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. Table 15 DEBT. I-UNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. nSCAI. TEAR ENDraO Total. Funded. Floating. Total. Casll. Securities. Amount, Total. Bonds. Special debt to public trust funds. Per capita. 1912. .. $619,199 615,237 616, 852 622,948 611,185 618,068 609,699 614,963 607,422 606,410 1,192,700 1, 192, 700 1,275,000 1,375,000 1,400,000 1,475,000 1,476,000 1,476,000 1,475,000 1,475,000 1,475,000 1,475,000 1,375,000 1,324,746 $601,567 601,667" 601,567 601,567 601,667 601,667 601,667 601,667 601,567 601,667 1,192,700 1,192,700 1,276,000 1,276,000 1,275,000 1,275,000 1,275,000 1,275,000 1,275,000 1,276,000 1,275,000 1, 275, 000 1,276,000 1,276,600 $601,667 601,567 601,667 601,667 601,667 601,567 601,667 601,567 601,667 601,667 1,192,700 1,192,700 1,275,000 1,276,000 1,276,000 1,275,000 1,275,000 1,275,000 1,275,000 1,276,000 1,276,000 1,275,000 1,275,000 1,276,600 $17,632 13,670 14,285 21,381 9,618 16,491 8,132 13,396 6,856 3,843 i 100,000 126,000 200,000 200,000 200,000 200,000 200,000 200,000 200,000 100,000 48,245 $2,779,602 2,667,907 2,343,963 1,953,707 2,060,285 1,944,670 1,886,854 1,764,408 1,851,367 1,766,131 2,347,499 1,476,611 1,673,641 1,442,473 1,442,418 1,374,045 1,452,174 1,480,067 1,364,553 1,244,073 1,214,237 1,192,740 1, 146, 258 695,086 $1,011,535 858. 440 682,696 490,840 647,618 544,303 511,287 401,941 626,700 823,664 1,103,799 319,811 383. 441 335,973 337,918 222,745 304,874 333, 767 257,253 136,773 128,053 107,056 84,374 80,186 $1,767,967 1,709,467 1,661,267 1,462,867 1,412,667 1,400,267 1,374,567 1,362,467 1,324,667 1,242,467 1,243,700 1,156,700 1,190,200 1,106,600 1,104,500 1,151,300 1,147,300 1,146,300 1,107,300 1,107,300 1,086,184 1,085,684 1,061,884 614,900 $619,199 615,237 615,862 622,948 611,185 618,058 609,699 614,963 607,422 606,410 1,032,600 1,032,600 1,031,928 1,131,928 1,166,956 1,231,973 1,231,913 1,231,913 1,231,913 1,231,913 1,231,913 1,231,913 1,131,913 1,173,912 $0 77 1911 ; . . 0.79 1910 1909 .... 85 1908.... 86 1907 ... . .. 90 1906, 91 1906 1904 : 98 1903 , , 1 01 1902 $160,200 160, 200 243,072 243,072 243,044 243,027 243,087 243,087 243,087 243,087 243,087 243,087 243,087 150,833 1.79 1901 1.87 1900 1.95 2.19 1898 . .. . . 2.30 1897 2.52 1896 2 59 1896 2 67 2.75 1893 . ... 2 84 1892 2.93 1891 3 03 2.89 I Not reported. In each year the total debt and the general classes thereof are shown. Corresponding data 9,re shown for funds and investments, an.d for each year the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows a decrease in the bonded indebtedness in 1901 and 1903; with these exceptions the bonds were unchanged during the period. The floating debt shows slight changes until 1903, when it was reduced from $100,000 to $3,843, and in 1912 was still relatively insignificant. In the funds and investments the securities show a steady increase, while the usual fluctuations are observed in the cash. The sinking fund assets remained practically unchanged until 1902, when the entire amount was NATIONAL AND STATE. INDEBTEDNESS. 29 used to pay off maturing bonds. The debt less siixk- iag fund assets shows httle change between 1890 and 1912, while, owing to increase in population, the per capita debt was reduced from $2.89 to $0.77. GEORGIA. Funded debt. — On September 30, 1912, the fimded •debt of Georgia consisted of bonds and special debt obligations to the university fund. Most of the bonded debt of the state was incurred originally to aid in the building of railroads and to redeem railroad bonds indorsed by the state, and nearly all of the bonds are «arly issues which have been refunded. Three of the earliest series, issued in 1866, 1876, and 1877, and amovmting in all to only $3,500, are long overdue and have never been presented for payment. Of the four special debt obligations of the state to the imiversity fund, three are in the form of bonds issued in 1881, 1908, and 1909 to the trustees of the Univer- sity of Georgia in lieu of matured bonds of the state held by the imiversity. The fourth obhgation is not bonded, but represents a loan to the state of money leceived for the university fund from the sale of land scrip granted by the Federal Government for educa- tional purposes. The state pays the trustees of the imiversity 7 per cent interest on this loan. Floating debt. — The only floating debt reported for the state consists of a temporary loan of $200,000, ■outstanding at the close of the fiscal year September SO, 1912. The purpose of issue of this debt was not ascertained, but it was incurred probably to make up a deficiency in revenues. School fund. — ^The only reported investment of the school fund is a part interest in the Western & Atlantic KaUroad, which is owned by the state of Georgia and leased to the Nashville, Chattanooga & St. Louis Rail- road at a monthly rental of $35,001. By the terms of the law one-half of this income accrues to the' benefit of the school fund and the other half to the general fund; the estimated value is $20,000,000 according to the estimate made by state authorities in 1912. This item, however, is not shown in the table, since it is strictly an estimate. In its published reports the state has not in the past fixed the value of this railroad investment. The value assigned by the Census Bureau in the past has been an estimate based upon the annual rental received by the state, and the average rate of interest on state loans as determined by the market value of state bonds at the close of the year. University fund. — The permanent fund of the state imiversity is invested in three special state debt obli- gations to that fund, issued under acts of 1881, 1908, and 1909, and bearing interest, the first at the rate of 7 per cent and the other two at 3.5 per cent; and in a state loan of $90,202, which is a balance due the uni- versity fund from the sale of land scrip granted by the General Government under an act of 1862, for the benefit of agricultural and mechanical education. General and special funds. — The state includes with the cash of its general revenue fund stock in the Georgia Railroad & Banking Co., in the Northeastern Railroad Co., and in the Southern & Atlantic Tele- graph Co. Table 16 FISCAL YEAR ENDING SEPT. 30— 1912 1911, 1910 1909 1908 1907 1906. 1905 1904 1903 1902. 1901 1900, 1899. .1898. 1897. 1896. 1895. 1894. 1893. 1892. 1891. 1890. 1880. Total. 16,934,202 6,834,202 6,934,202 7,034,202 7,177,202 7,382,202 7,328,202 7,433,202 7,526,202 7,626,202 7,876,202 8,026,202 7,926,202 8, 026, 202 8, 127, 202 8,229,202 8, 257, 202 8, 529, 202 8, 244, 702 8, 244, 702 8,275,202 8,373,517 10, 449, 542 9,917,862 Total. $6,734,202 6,834,202 6,934,202 7,034,202 7,127,202 7,227,202 7,328,202 7,433,202 7,526,202 7,626,202 7, 726, 202 7,826,202 7,926,202 8,026,202 8, 127, 202 8,229,202 8,257,202 8,629,202 8, 244, 702 8, 244, 702 8,275,202 8,373,517 10,449,542 9, 917, 862 Funded. Bonds. $6,352,500 6, 452, 600 6,552,500 6,652,500 6,752,500 6,854,500 6,955,600 7,060,600 7,163,600 7,253,500 7,353,500 7,463,600 7,663,500 7, 653, 600 7,754,500 7,856,500 7, 884, 600 8, 163, 500 7,879,000 7,879,000 7,909,500 8,010,315 10,089,340 9, 827, 660 Special debt to public trust funds. $381,702 381, 702 381, 702 381, 702 374, 702 372, 702 372, 702 372, 702 372, 702 372, 702 372, 702 372, 702 372, 702 372,702 372,702 372, 702 372, 702 365, 702 366, 702 365, 702 365, 702 363,202 360,202 90,202 Floating. $200,000 50,000 155,000 150,000 200,000 FUNDS AND INVESTMENTS. Total. $1,661,579 1,276,138 1,166,986 1,033,104 1,071,292 1,233,142 1,216,847 1,427,866 1,426,116 1,453,861 923,582 13,840,124 13,940,648 14,157,179 12,931,344 12,469,648 11,469,325 12,519,937 12,232,086 12,640,649 12,166,394 12, 139, 142 13, 683, 294 1,747,876 Cash. $1,113,617 727,078 618,924 486, 168 638,718 820, 740 804, 445 1,016,464 1,013,713 1,041,449 511, 180 730, 722 416, 146 438, 777 318,942 422, 246 ' 466,923 801,535 828, 634 1, 139, 837 748,052 730, 940 2,278,092 686, 240 Securities. $548,062 548,062 648,062 546,948 432,674 412,402 412,402 412,402 412,402 412,402 412, 402 13, 109, 402 13,524,402 13,718,4(02 12, 612, 402 12,047,402 11,002,402 11,718,402 11,403,452 11,400,812 11,407,342 11,408,202 11,405,202 1,061,636 Sinking lun^. assets. 8100,000 200,000 DEBT LESS SINKING FUND ASSETS. Amount. $6,934,202 6,834,202 6,934,202 7,034,202 7, 177, 202 7,382,202 7,328,202 7, 433, 202 7, 526, 202 7,626,202 7,876,202 7,926,202 7,926,202 8,026,202 8,127,202 8,229,202 8,257,202 8,329,202 8,244,702 8,244,702 8,275,202 8,373,517 10, 449, 542 9,917,862 Per capita. $2.57 ' 2.57 2.65 2.73 2.83 2.96 2.98 3.07 3.18 3.26 3.43 3.51 3.67 3.68 3.79 3.91 3.99 4.10 4.14 4.22 4.32 4.46 5.69 6.43 30 WEALTH, DEBT, AND TAXATION. Table 16 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows a slight but steady decrease in the bonded indebtedness, while the special debt obligations to public trust funds remain practi- cally unchanged. A floating debt is reported for only five years of the period. In the funds and investments the securities remain approximately the same, if the estimated value of the Western & Atlantic Railroad property is not included. No estimate was made by state authorities showing probable value of the Western & Atlantic Railroad property during the last 20 years until 1912, when an estimate of $20,000,000 was made, and this estimate is included in the state reports. This item, however, is- not shown in the table, since it is strictly an estimate. Between the years 1890 and 1901, inclusive, an esti- mate was made by the Bureau of the Census based upon, the annual revenue-producingcapacity of this property. The estimates made for that period are included in the tables, since the data are entirely copied from the last, report compiled by the Census Bureau on this sub- ject. No similar estimates were made, however, for the years from 1902 to 1912, inclusive. Sinking fund assets were reported for 1895 and 1901,. having been used during the remainder of the period to reduce the bonded indebtedness. The per capita debt declmed steadily from $5.69 in 1890 to $2.57 in 1912. IDAHO. Funded debt. — The funded debt of Idaho is made up of a great many small issues of bonds. In nearly every case these were issued for public improvements, either for roads, bridges, or for improvements or build- ings of state institutions. On September 30, 1912, the two larger issues, dated 1905 and 1911, were both for the new capitol building, and amounted to $100,000 and $750,000, respectively. The various state funds hold a considerable amount of state bonds. Floating debt. — The floating debt reported outstand- ing warrants and a private trust obligation, in the form of the insane patients' fund. Sinking funds. — There are three sinking funds in Idaho, each reporting a cash balance as its only asset. The public building sinking fund is derived from the sale of land granted to the state for the construction of the capitol buildiag, while the capitol building sink- ing fund and the general interest and sinking fund are maintained by taxes levied for the purpose of paying interest coupons and bonds as they become due. General school fund. — This fund consists of the fol- lowing: Proceeds of school lands granted by the Fed- eral Government; lands acquired by gift or grant from any person or corporation under any law; grants of land or money made to the state for general educa- tional purposes; and moneys accruing to the state from the estates of deceased persons. The principal of this fund, which is permanent and can not be appro- priated, is invested in real estate mortgages and state and school bonds, the interest being used for the sup- port of the public schools. Normal school endowment fund. — This, fund is de- rived from the sale of land granted by the United States Government for the support of the normal schools and is invested in state and school bonds and real estate mortgages. The principal of each of the following funds is derived in the same manner and is invested in the same kind of securities as that of the normal school endowment fund: University endowment fund, uni- versity school of science endowment fund, charitable institutions endowment fund, insane asylum endow- ment fund, penitentiary endowment fund, public build- ings endowment fund. Academy of Idaho endowment fund, reform school endowment fund, soldiers' home land endowment fund, agricultural coUege endowment fund, and North Idaho Insane Asylum endowment fund. Carey Act trust fund. — This fund consists of the sur- plus moneys derived from the sale of reclaimed desert lands in excess of the cost of their reclamation. The principal is invested in state and school bonds, the interest from which is applied to the reclamation of other desert lands in the state. Insane patients' trust fund. — This fund consists of moneys taken from iasane patients when they are committed to the insane asylum, and held in trust by the state treasurer untU such time as the patients are discharged. General and special funds. — The state maintains a large number of administrative funds with cash bal- ances, all of which are reported under the heading "General and special funds." Table 17 gives a biennial summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each case the total debt and the general classes thereof is shown. Corresponding data are shown for funds and investments. For each year indicated the total and per capita debt less sinking fund assets, are included in the table. NATIONAL AND STATE INDEBTEDNESS. 31 In arriving at the per capita debt, estimates of pop- ulation based on the average percentage of increase have been used. An inspection of the table shows a steady though approximately small increase in the bond issues throughout the period, except between 1896 and 1898, when there was a decrease of $2,000 in this indebted- ness. The total increase for the years shown is only $2,294,982. The floatmg debt fluctuated greatly, the minimum reported for the entire period being $4,188 in 1904, and the maximum, $285,433 m 1906. The amount of cash varied in each biennial report, showing $33,864 in 1890 and $1,282,188 in 1912. The data for securities are incomplete; however, a remark- able increase is shown — $60 in 1896 and $3,915,916 in 1912. Table 17 , DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. nSCAL TEAR EKDINO SEPT 30 — ■ Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trast funds. Per capita. 1912 J2, 450, 703 J2, 364, 250 S2, 364, 250 $86,453 $5,198,104 $1,282,188 $3,915,916 $307,389 $2,143,314 $6.92 19111 1910 1,433,707 1,396,250 1,396,250 37,467 968,708 968,708 (') 310,949 1, 122, 758 3 41 19091 1908 1,599,181 1,364,000 1,364,000 235,181 691,449 691,449 (') 112,632 1,486,549 19071 1906 1,364,433 1,079,000 1, 079, 000 285,433 2,014,944 467,032 1,547,912 18,166 1,346,277 19051 1904 737,688 733,500 733,500 4,188 1,240,450 206,874 1,034,576 54,131 683, 567 19031 1902 756,043 564,500 554,500 201,543 902,720 666,854 345,866 431,396 324,647 1 65 19011 1900 536,310 443,500 443,500 92,810 274,381 130,981 14.3,400 54,954 481,356 2 95 18991 1898 697,470 393,000 393,000 204,470 155,379 51,968 103,411 13,222 584,248 18971 1896 395,000 395,000 395,000 (') 48,590 48,530 60 13,407 381,593 2 87 18951 1894 586,278 378,000 378,000 208,278 126,776 66,541 60,235 64,^84 621,694 18931 1892 251,000 251,000 251,000 (') 94,824 94,824 46,751 204,249 1 97 18911 1890 239,268 82,944 146,715 69,268 146, 715 69,268 92,5.'s5 13,676 33,864 33,864 20,775 218, 493 82,944 1880 2 54 1 Not reported. The sinkidg fund assets fluctuated, being as low as $13,222 m 1898 and reaching $431,396 in 1902. The effect of these variations ia the sinking funds on the total debt is easily apparent, while the effect on the per capita debt is somewhat modified by the changes va population and the iocrease in the bonded debt. ILLINOIS. Funded debt. — ^The funded debt of lEiaois on Sep- tember 30, 1912, consisted of a small amount of bonds due and called but not presented for redemption, and obhgations to the state educational funds, classified under the designation "Special debt obligations to public trust funds." Floating debt. — In 1912 the floating debt of the state consisted of outstanding warrants and of obligations ia the nature of two private trust funds, known as the local bond fund and the unknown and minor heirs' fund. Common school fund. — The lUinois permanent or common school fund, only the income of which can be expended for school purposes, consists of 2.5 per cent of the net proceeds from the sale of public lands in the state, together with that portion of the so- caUed "surplus revenue" received by the state from the General Government. With the exception of a cash balance, the only asset of this fund is an obli- gation on the part of the state toward the fund. ,955, on account of the principal amounting to used by the state. College fuTid.— The, coUege fund is one of those funds which the state has established for the benefit and use of the state university, the others being seminary and university endowment funds. The coHege fund was established from 5 per cent of the net proceeds from the sale of public lands originally set apart by an act of Congress for the establishment and maintenance of a state college or university. The principal of the fund, amounting to $156,613, has been used by the state, which annuaUy pays 6 per cent interest thereon ' to the state university. Seminary fund. — The seminary fund represents the proceeds from the sale of seminary lands originally donated to the state by the General Government for the benefit and support of an agricultural and me- chanical coUege. The state has used the principal of this trust fund to the amount of $59,839, and annu- ally pays 6 per cent interest thereon. 32 WEALTH, DEBT, AND TAXATION. University endovmient fund. — The endowment fund of Illinois University arose from the sale of lands granted to the state by the General Government. The state has charged itself with liability for this fund to the amount of $648,323 in 1912, and it pays the university interest upon this amount at the rate of 5 per cent. Local iondfund. — ^This fund consists of moneys col- lected and held by the state treasurer as a sinking fund for the payment of interest on (and for the ulti- mate liquidation of the principal of) the bonds of coun- ties and municipalities, under the provisions of a law authorizing the registration of such bonds with the state treasurer and the guaranty by the state of their payment. Unknovm and minor Jieirs' fund. — ^This fund is, as its name indicates, a private trust fund to be held by the state until the settlement of certain estates. General and special funds. — ^All cash balances car- ried by the state treasurer in the general and special administrative funds are grouped under the title "General and special funds." Table 18 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING rum> ASSETS. nSCAl YEAR ENDING Total. Funded. Floating. Total. Casli. Securities. Amount. Total. Bonds. Special debt to public trast funds. Per capita. 1912. S2, 272, 620 $1,831,230 »17,600 $1,813,730 $441,390 $7,539,420 $5,499,210 $2,040,110 $2,272,620 $0.39 19111 1910 2,244,820 1,830,900 17,600 1,813,460 413,860 6,238,071 4,424,611 1,813,460 2,244,820 0.40 19091 1908. 2,223,121 1,824,385 17,500 1,806,885 398,736 6,666,148 3,869,263 1,806,885 2,223,121 6.40 19071 1906. 2,129,315 1,819,533 17,500 1,802,033 309,782 7,361,260 6,549,227 1,802,033 2,129,316 6.40 19051 1904 2,108,928 1,802,128 18,500 1,783,628 306,800 6,230,862 3,447,234 1,783,628 2,108,928 0.41 1903' 1902 2,155,122 1,776,776 18,500 1,758,276 378,346 5,136,600 3,378,324 1,758,276 2,155,122 0.43 19011 1900 1 2,180,502 18991 '__ 1,685,339 18,600 1,666,839 495,163 ' 4,284,795 2,617,966 1,666,839 2,180,502 0.45 1898... 2,119,073 1,646,631 18,500 1,627,131 473,442 3,790,608 2,163,377 1,627,131 2,119,073 0.46 18971 1896 1,743,577 1,183,907 18,600 1,165,407 659,670 2,051,753 886,346 1,166,407 1,743,577 0.39 18951 1894 1,710,963 1,183,907 18,500 1,166,407 627,066 3,088,869 1,923,462 1,165,407 1,710,963 0.40 18931 1892 1,777,499 1,184,907 19,500 1,165,407 692,692 5,514,959 4,349,552 1,165,407 1,777,499 0.44 18911 1890 1,811,396 1,446,466 1.184,907 1,446,466 19,600 281,059 1,165,407 1,165,407 626,489 5,610,875 3,597,287 4,445,463 2,431,880 1,165,407 1,165,407 1,811,396 1,446,466 47 1880 0.47 1 Not reported. Table 18 gives a biennial summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average per- centage of increase have been used. An inspection of the table shows that bonds, special debt to public trust funds, and the floating debt have remained practically unchanged throughout the period. In the funds and investments the only securities held are those belonging to the special debt to public trust funds, while the cash shows a general increase during the period covered. No sinking fund assets, as such, are recorded in any year, thus making the debt less siaking fund assets the same as the total debt. The changes in population are not marked, hence the per capita debt remains approximately the same. INDIANA. Funded delt. — On September 30, 1912, the funded debt of Indiana consisted of two classes of obligations — negotiable bonds and nonnegotiable instruments. The latter, classed as special debt obUgations to pubUc trust funds, are amounts due to Purdue University, Indiana University, and Vincennes University, as pro- vided by the acts of 1881, 1883, and 1907, respectively. The bonded debt shows an old issue of state stock certificates, upon which the interest has ceased, and two series of refunding bonds, amounting to $300,000 and $350,000; issued, the first, for the purpose of re- fundiag the temporary refunding loan of 1885, and the second, for refunding the new statehouse loan of 1885. Floating delt. — The floating debt is made up of outstanding warrants and of private trust obUgations on account of the unclaimed estates fund and the es- cheated estates fund. These funds consist of small amounts of cash held by the state treasurer and, ac- NATIONAL AND STATE INDEBTEDNESS. 33 cording to constitutional provision, these moneys if not claimed will eventually become a part of the school fund. Sinking fu/nd. — In Indiana the siaking fund consists of a small unexpended balance of money raised for sink- ing fund purposes. Common school fund. — The common school fund con- sists of surplus revenue, saline and bank tax funds, funds derived from sale of county seminaries and prop- erty or money held by such, and all funds appropriated to cormnon schdols; of taxes assessed for school pur- poses, fines assessed for breaches of penal laws, for- feitures which may accrue, escheated estates, proceeds from sale of swamp lands granted by Congress, and all other lands granted to the state for no special object. The principal of the common school fund, with the exception of a very small cash balance which has never been apportioned, is deposited with the various coun- ties of the state to be invested by them in real estate. They are required by law to make good any losses in the amount intrusted to their keeping and to pay the state 6 per cent interest thereon, whether invested or not invested. Congressional tovmsMp school fund. — This fund, which consists of money derived from, the sale of con- gressional school lands, is deposited with the counties. Indiana University endowment fund. — This fund con- sists of a small cash balance and an obligation of the state in the form of a nonnegotiable bond, amounting to $144,000, issued by the state to the fund in return for the loan of that amount. The income of this fund is applied to the expenses of the University of Indiana. College fund. — The college fund is derived from the sale of lands located in Monroe and Gibson Coimties, given Purdue University as an endowment fund. The fund holds real estate mortgages to the amount of $1,118, but the greater portion of the principal is deposited with the counties. Purdue Uy,iversity endowment fund. — This fund was derived from the sale of land scrip granted by acts of Congress. The state has used the entire principal of the ftmd, but has issued to the fimd in lieu thereof a nonnegotiable bond to the amount of $340,000, the interest of which is to be used for Purdue University. Vincennes University bonds fuTid.— The principal of this fund, consisting of the proceeds from the sale of lands granted by Congress, has been used by the state, but the fund holds in lieu thereof state bonds amount- ing to $120,548, the interest of which is devoted to the maintenance of Vincennes University. Private trust funds. — The assets of the fvmds in- cluded under this heading — the unclaimed estates fund and the escheated estates fimd — consist of cash held to their credit in the state treasury. General and special funds. — Under "General and special funds " are reported all cash balances of general and special administrative funds. Table 19 DEBT. FUNDS AND INVESTMENTS. Suiliing fund assets. DEBT LESS SINKING FUND ASSETS. nSCAL TJEAH ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $1,350,783 1, 529, 393 1,599,939 1,587,801 1,598,402 1,578,922 1,357,151 1,551,808 2,072,998 2,518,285 2,924,780 4,231,730 4,731,674 5,215,811 5,728,746 6,230,683 6,952,347 7,549,620 7, 947, 188 8,516,422 8,860,473 8,856,887 8, 566, 956 4,998,178 $1,260,163 1,410,163 1,510,163 1, 510, 163 1,510,163 1,510,163 1,289,615 1,443,615 1,902,615 2,437,615 2,887,615 4,204,615 4, 704, 615 5,187,615 5,700,615 6,200,615 6,920,615 7,520,615 7,920,615 8,490,615 8,830,615 8,830,615 8,540,615 4,998,178 $655,615 805,615 805,615 805,615 805,615 805,615 805,615 959,615 1,418,615 1,953,615 2,403,615 3,720,615 4,220,615 4,703,615 5,216,615 5,716,615 6,436,615 7,036,615 7,436,615 8,006,615 8,346,615 8,346,615 8,056,615 4,998,178 $604,548 604,548 704,548 704,548 704,548 704, 548 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 484,000 $90,620 119,230 89,776 77,638 88,239 68,759 67, 536 108,193 170,383 80,670 37,165 27, 115 27,059 28,196 28,131 30,068 31,732 29,005 26,573 25, 807 29,858 26, 272 26,341 $12,994,090 12,815,530 12,813,562 12,941,493 12,927,359 13,249,560 12,424,940 12, 147, 740 12,014,515 11,829,567 11,916,50? 11,955,066 11, 727, 183 12,000,368 11,885,562 11,758,089 11,828,385 11,725,782 11,480,884 11,294,002 11,276,910 10,913,883 10,738,098 4,488,635 $339,405 272,969 291,968 530,277 609,086 1,096,461 603,656 459,926 393,951 362,078 523,812 611,649 371,967 691,864 550,777 396,724 525,695 573,727 390,612 372,637 482,861 303,002 239,357 583,752 $12,654,685 12,542,661 12,521,594 12,411,216 12,318,273 12,153,099 11,821,284 11,687,814 11,620,664 11,477,489 11,392,695 11,343,417 11,355,216 11,308,604 11,334,785 11,361,365 11,302,690 11,152,056 11,090,372 10,921,365 10,794,059 10,610,881 10,498,741 3,904,783 $478 $1,350,305 1,529,393 1,599,939 1,317,059 1,598,402 1,678,922 1,367,151 1,551,210 2,071,962 2,518,285 2,924,719 4,231,682 4,731,464 5,211,544 5,728,711 6,225,374 6,942,125 7,318,427 7,947,188 8,516,422 8,860,473 8, 856, 887 8,566,966 4,996,090 $0.49 0.56 1910 0.59 1909 270,742 0.49 0.60 1907 0.60 1906 0.52 1905 698 1,036 0.59 1904 0.80 0.98 1902 61 148 210 4,267 35 5,309 10,222 231,193 1.14 1901 1.67 1900 1.88 1899 2.10 1898 2.33 1897 2.67 1896 2.91 1895 3.10 3.42 1893 3.72 1892 3.92 3.98 1890 3.91 1880 2,088 2.53 Table 19 gives a summary of the debt, funds and in- vestments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for fimds and investments, and for each year indicated the 28652°— 14 3 total and per capita debt less sinldng fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows a steady dechne in outstanding bonds, amounting to more than $7,000,000 34 WEALTH, DEBT, AND TAXATION. during theperiod. The special debt to public trustf unds remained unchanged until 1907, when the amount was slightly increased. The floating debt fluctuated con- stantly, although the general tendency was to in- crease. In the fimds and investments the securities show a steady increase, and amounted to $12,654,685 on Sep- tember 30, 1912. The most marked change in the items of cash occurred in 1907, when there was an increase of nearly $500,000 over the amount reported for 1906. No sinking fund assets, as such, are recorded for 11 years of the period covered by this report, and at no time is the fimd sufficiently large to have any appre- ciable effect upon the total funded debt. The per capita debt decreased from $3.91 in 1890 to $0.49 in 1912, due almost wholly to the great reduction in the bonded indebtedness. IOWA. FuTided debt. — The only funded debt in Iowa on June 30, 1913, is the state obligation to the school fund, amounting to $10,937. The state pays interest at the rate of 6 per cent upon this obligation, which was issued to reimburse the school fund for losses sustained through the action of state officials. Floating debt. — Outstanding warrants, to the amount of $345,733, constitute the only floating debt. Permanent school fund. — ^The permanent school fund of Iowa is derived from 5 per cent of the net proceeds of the sale of public lands; the proceeds of the sale of 500,000 acres of land granted under an act of Congress in 1841; the proceeds of the sale of in- testate estates which escheats to the state; and the sale of the sixteenth section of each township, or land granted in lieu thereof. The greater portion of this fund is deposited with the counties for investment. The fund also holds a special debt obligation of the state. Agricultural college endowment fund. — ^This fund was derived from the sale of land granted by an act of Con- gress passed July 2, 1862. It is invested in mortgage securities. General and special funds, — On June 30, 1913, these funds consisted of real estate and notes to the amount of $978 and of cash to the amount of $1,693,431. Table 20 DEBT. FUNDS AND INVESTMENTS. Sinking lund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAR ENDING JUNE 30 — Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita.. 1913 1356,670 76,906 810,937 10,937 $10,937 10,937 1345,733 65,969 87,184,423 6,784,629 81,693,449 1,302,630 85,490,974 5,481,999 8356,670 76,906 S0.1& 1912 1911' 1910 57,938 10,937 10,937 47,001 6,729,385 1,252,839 5,476,546 57,938 0.03 1909 1 1908 218,159 10,937 10,937 207,222 6,190,723 745,875 5,444,848 218,159 0.10 1907' 1906 173,903 83,427 10,937 10,937 10,937 10,937 162,966 72,490 6,634,857 6,888,446 1,179,723 1,457,247 5,455,i34 5,431,199 173,903 83,427 08 1905 ; 0.04 1904' 1903 49,589 10,937 10,937 38,652 7,044,242 1,621,770 5,422,472 49,589 0.02 1902' 1901 89, 765 10,937 10,937 78,828 6,589,010 1,186,882 5,402,128 89,765 0.04 1900' 1899 90,881 10,937 10,937 79,944 5,813,798 584,552 5,229,246 90,881 0.04 1898' 1897 458,573 10,937 10,937 447,636 5,306,226 63,079 5,253,i47 458,573 0.21 1896' 1895 85,023 10,937 10, 937 74,086 5, 642, 108 312,893 5,229,215 85,023 0.04 1894' 1893 32,354 10,937 10,937 21,417 5,545,932 413,989 5,131,943 32,354 0.02 1892' 1891 279,523 245,435 245,435 34,088 5,332,592 493, 146 4,839,446 279, 523 0.14 1890' 1880 :.... 545,435 545,435 8300, 000 245,435 3,591,864 74, 187 3,517,667 545,435 0.34 ' Not reporJ:ed. Table 20 gives a biennial summary of the debt, funds and investments, and sinking fund assets, from the years 1891 to 1913, and also the same data for the year 1880. An inspection of the table shows the state to be without any bonded indebtedness after 1880. The special debt to public trust funds was decreased from $245,435 in 1880 to $10,937 in 1893, and remained unchanged during the rest of the period. The floating debt varied with each year reported, reaching the maximum amount, $447,636, in 1897. In the funds and investments the securities show slight change. The cash fluctuated between $74,187 in 1880 and $1,693,449 in 1913. NATIONAL AND STATE INDEBTEDNESS. 35 No sinking fund assets, as such, are recorded in any year, thus leaving the debt less sinking fund assets the same as the total debt. The general tendency of the total debt was a decrease from $545,435 iu 1880 to $356,670 in 1913. The per capita debt decreased from $0.34 in 1880 to $0.16 in 1913. KANSAS. Funded deht. — The only funded debt reported for Kansas on June 30, 1913, consisted of two series of refunding bonds. All of these bonds, to the amount of $370,000, are held by the cjommon school fund. Floating debt. — Kansas did not report any floating debt in 1913. Sinking fund. — In 1913 the greater part of the sink- ing fund consisted of a cash balance derived from taxation for meeting the injierest and for the redemp- tion of maturing debt obhgations. This fund also holds United States consols of 1895 to the amount of $23,000. Common school fund. — The school fund, which is permanent and can not be diminished, is made up of the sixteenth and thirty-sixth sections in each town- ship; 5 per cent of the net proceeds from the sale of public lands within the state; and the estates of per- sons dying without heir or will. The principal is invested in Kansas state, county, municipal, and school district bonds. The income from these bonds, together with all rents and interest on the sales of school lands, and such other revenues as the legislature may provide by taxation or otherwise, constitute the annual fund for distribution to the common schools. University fund. — This fund consists of the proceeds derived from the sale of lands granted by Congress in the "act of adlnission," approved in 1861. The only investments are county and school district bonds. Agricultural college fund. — This fund, which was derived from the sale of lands granted by Congress, is invested in county, municipal, and school district bonds. State normal school fund. — By the act of the state legislature establishing the state normal school, all the salt lands granted by Congress to the state were set apart to form a perpetual endowment fund for the normal school. The principal of this fund, consisting of the proceeds from the sale of these lands, is invested in county, municipal, and school district bonds. Stormont Medical Library fund. — This fund of $5,000 was presented to the state of Kansas by Mrs. Jane C. Stormont for the purpose of estabhshing and main- taining a medical library for the use and benefit of the people of the state, and particularly of the medical profession. The gift was made upon the condition that said sum should remain a perpetual fund and the interest and accumulations thereof be expended in the purchase of books, charts, magazines, etc., relating to the science of medicine and surgery. The fund is invested in township and school district bonds. General and special funds . — The cash balances of aU administrative funds are reported under the common designation "General and special funds." Table 21 gives a summary of the debt, funds and investments, and sinking fund assets, from 1892 to 1913, and also the same data for 1880 and 1892. There is no report for 1893. . TaJbIe21 FISCAL TEAR ENDING JUNE 30— 1913.. 1912.. 1911.. 1910.. 1909.. 1908... 1907. . 1906.. 1905.. 1904.. 1903. 1902. 1901. 1900. 1899. 1898. 1897. 1896. 1895. 1894. 18931. 1892.. 18911. 1890". 188Q.. $370,000 370,000 620,000 520,000 605,000 623,000 632, 000 632,000 632, 000 632,000 632,000 632,000 667, 000 756, 328 697, 278 701,625 756, 817 792, 194 898, 445 983,153 Total. $370,000 370,000 520,000 620, 000 605,000 623,000 632, 000 632,000 632,000 632,000 632,000 632,000 667, 000 692, 000 632, 000 632,000 682,000 682, 000 762, 000 801,000 Funded. 8370,000 370,000 520,000 520,000 605,000 623,000 632,000 632,000 632,000 632,000 632,000 632,000 667, 000 692, 000 632,000 632, 000 682,000 682, 000 752, 000 801,000 Special debt to public trust funds. Floating. $64,328 65,278 69,625 73, 817 110, 194 146, 445 182, 153 FUNDS AND INVESTMENTS, Total. $11,989,925 11,426,618 11,462,257 10, 865, 218 10,864,873 10, 407, 061 9,918,610 9,162,937 9,177,687 8,880,994 8,587,640 8,316,183 8,087,014 8,023,699 7,6*8,538 7,601,472 7,405,028 7,529,096 7,653,704 7, 739, 192 Cash. $1, 736, 277 1,289,209 1,423,283 1,026,166 1,177,030 1,046,461 760, 266 271,086 777, 890 634, 864 449, 875 627. 367 577, 626 510, 711 498, 451 412, 152 363,028 604,528 710, 416 842,326 Securities. $10,264,648 10, 136, 409 10,038,974 9,839,062 9,687,843 9,361,600 9,158,344 8,891.851 8,399,797 8, 246, 130 8, 13', '65 7,688,816 7,609,388 7,612,988 7, 150, 087 7, 189, 320 7,042,000 6, 924, 568 6,943,289 6,896,866 Sinking fund $126,879 76,879 145,959 83,000 108,000 74, 129 43,129 33, 129 10,000 10,000 1,339 1,339 367 367 364 336 DEBT LESS SINKlNa TimO ASSETS. Amount. $243, 121 293, 121 374,041 437,000 497,000 548,871 588,871 698, 871 622,000 622,000 632,000 632,000 667, 000 754,989 695,939 701, 257 755,450 791, 827 898, 081 982,817 Per capita. $0.14 0.17 0.22 0.26 0.30 0.33 0.36 0.37 0.39 0.40 0.41 0.42 0.45 0.51 0.47 0.48 0.52 0.54 0.62 0.68 1,052,207 801,000 'i,'i8i,"975' 801,000 'i,'i8i,"975' 7,422,519 '2,'365,'583' 727. 164 6,695,355 318 'i88,"6i4' 1,051,8 0.73 'i.'oo 1,181,975 444,698 1,920,885 993,961 1 Not reported. 36 WEALTH, DEBT, AND TAXATION. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows a steady though small reduction in the bonded indebtedness. The floating debt was small and decreased each year until it disappeared altogether in 1901. In the funds and investments both cash and securi- ties show a general increase throughout the period. The sinking fund assets are comparatively small, hence the debt less sinking fund assets does not mate- rially differ from the total debt. The per capita debt declined steadily from $0.73 in 1892 to S0.14 in 1913, due to the reduction in bonded indebtedness. KENTUCKY. Funded debt. — On June 30, 1913, the funded debt of Kentucky was made up of four issues of nonnegotia- ble bonds and one small issue of negotiable bonds, long overdue but never presented for redemption. Of the series of nonnegotiable bonds, classed as "Special debt obhgations to public trust funds," three are held by the school fund and the fourth by the state university fund. Of the obligations to the school fund, one, issued in 1870 and amounting to $1,327,000, is perpetual; the second, for $381,986, represents the state's obligation by reason of the surplus school revenue due the coun- ties; and the third, amounting to $606,641 and issued to the state board of education under an act of the leg- islature, is equal to the amount of the direct tax re- funded to the state by the United States Government. Interest is paid on these bonds at the rate of 6 per cent, and this income is devoted to the pubhc schools. The fourth bond, amounting to $165,000, was issued to take up maturing state bonds held by the agricultural college and normal school funds, and the interest thereon is paid to the state university. Floating debt. — The floating debt of Kentucky June 30, 1913, consists of outstanding warrants amounting" to $1,965,153. Sinlcing fund. — The income of the sinking fund from taxation is fixed by statutory law and can not be di- minished until the debt of the state is paid. The only asset of this fund June 30, 1913, was a cash balance of $10,307. School fund. — The largest investment of the school fund, amounting to $2,315,627, consists of obhgations of the state to the school fund on account of moneys borrowed or state bonds canceled. The amount made up by the interest from these obligations, the income from bank stock having a par value of $73,500, to- gether with an annual tax levy for school purposes, is annually apportioned among the counties and school districts according to their school population. State university fund. — -This fund, derived from the proceeds of the sale of land scrip granted as an endow- ment fund by an act of Congress, is invested in a state obligation to the fund in the form of a perpetual non- negotiable bond, bearing interest at the rate of 6 per cent. The income from this fund and an annual assess- ment upon aU taxable property in the state are appHed to the support of the state university. General and special funds. — The cash in the general fund amounted to $66,047 on June 30, 1913. Table 22 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SnfKING FUND ASSETS. FISCAL "YEAR ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1913 $4,452,174 4,288,458 4,013,755 3,884,959 3,226,860 2, 726, 641 2,990,138 2,786,464 2, 6S2, 535 2,719,450 2,731,662 4,472,116 3,891,030 3,753,472 3,883,945 4,022,741 3,298,148 2,936,030 3,146,889 3,244,980 2,992,991 2,992,991 2,561,673 12,487,021 2,487,021 2,487,021 2,487,021 2, 487, 021 2,487,021 2,613,021 2,513,021 2,513,021 2,623,021 2,523,021 3,487,030 3,487,030 3,487,030 3,487,030 3,487,030 2,965,030 2,936,030 2,966,030 2,996,030 2,992,991 2,992,991 2,386,341 $6,394 6,394 6,394 6,394 6,394 6,394 32,394 32,394 32,394 42,394 42,394 1,006,394 1,006,394 1,006,394 1,006,394 1,006,394 649, 394 620, 394 649,394 680, 394 680, 394 680,394 680, 394 12,480,627 ■ 2,480,627 2, 480, 627 2,480,627 2,480,627 2,480,627 2,480,627 2,.480,627 2,480,627 2,480,627 2,480,627 2,480,636 2,480,636 2,480,636 2,480,636 2,480,636 2,316,636 2, 316, 636 2,315,636 2,315,636 2,312,597 2,312,597 1,705,947 $1,966,153 1,801,437 1,526,734 1,397,938 739,829 239,520 477, 117 273,443 169,514 196,429 208,541 985,086 404,000 266,442 396, 915 535,711 333,118 $2,916,031 2,864,677 3,020,661 2,975,058 3,099,160 2,837,358 3,324,488 3, 150, 620 3,160,984 3, 100, 671 2,991,317 3,711,913 3,233,054 3,406,926 3,395,669 3,2,54,483 3,001,576 2,829,326 3,198,417 3,266,669 3,271,178 3,308,149 2,660,390 $361,904 300, 650 466, 534 420,931 645,023 283,231 770,361 596,493 606,867 646,444 437,190 169,691 264,918 570,348 395,148 40,276 11,962 201,829 $2,554,127 2,554,127 2,564,127 2,554,127 2,554,127 2,554,127 2,554,127 2,554,127 2,554.127 2, 554, 127 2,564,127 3,542,222 2,968,136 2,835,678 3,000,411 3,214,207 2,989,614 2,627,496 3,198,417 3,266,569 3,091,697 3,091,697 2,660,379 $10,307 32,236 189, 552 140, 421 109, 170 71, 503 671, 460 560, 873 542, 447 546,444 321,648 1, 157, 777 678,918 851, 790 841, 423 700,347 469,440 300. 252 666; 281 712,433 701,609 673,112 715,943 $4,441,867 4,266,222 3, 824, 203 3,744,538 3, 117, 680 2,655,038 2,418,678 2,235.591 2, 140, 0.'!8 2,173,006 2,410,014 3,314,339 3,212,112 2,901,682 3, 042, 522 3,322.394 2,828,703 2, 635, 778 2,480,608 2,632,547 2,291,322 2,319,879 1,845,730 $1 90 1912 1911 . 1 66 1910 1 63 1909 1 37 1908 1 17 1907 1 Qg 1906 . . . 1 00 1905 1904 98 1903 1.10 1902 1901 1 49 1900 , 1899 1 43 1898 1 59 1897 1 37 1.30 i8i,8.59 248,960 1894 1 28 179,481 216,452 11 1.18 1.21 98 1892 1891 175,332 1890* 1880 1,862,576 1,862,576 180,394 1,682,182 2,809,689 361,095 2,448,694 768,152 1,094,424 0.66 'No reported. NATIONAL AND STATE INDEBTEDNESS. 37 Table 22 gives a summary of the debt, funds and in- vestments, and sinking fund assets, from 1891 to 1913, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average per- centage of increase have been used. An inspection of the table shows a marked reduction in the bonded indebtedness during the period covered, although the amount was considerably increased from 1898 to 1902. The special debt to public trust funds remains practically unchanged, while the floating debt shows material increase. In the funds and investments the cash shows a slight general increase. The securities fluctuated until 1903, when there was a reduction of nearly $1,000,000, after which the amount remains unchanged. The sinking fund assets varied with each year, in- creasing to $1,157,777 in 1902 and decreasing to $10,307 in 1913. The total debt less sinking fund assets shows a general increase from $1,094,424 in 1880 to $4,441,867 in 1913. The per capita debt in- creased from $0.66 in 1880 to $1.90 in 1913, due to the .small percentage of increase in population and the material increase in the total debt. LOUISIANA. Funded debt. — On December 31 , 1912, the funded debt reported two series of bonds issued to refund prior indebtedness, and commonly designated as follows: "ConsoHdated bonds," amounting to $11,006,600; and "constitutional bonds," amounting to $101,700; also certificates of indebtedness to the amount of ^10,728. The state is also under obligation to the free school fund, the seminary fund, and the agricul- tural and mechanical college fund. These obligations, classed as " Special debt obligations to pubHc trust funds," were incurred on account of the appropriation by the state of the proceeds of sales of lands granted by the United States for the use and support of free public schools, of a seminary of learning, and of a college for the benefit of the agricultural and mechan- ical arts. These three amounts, held by the state as loans, are to remain perpetual funds, on which the state pays interest at the rate of 4 per c.ent. Floating debt. — Outstanding warrants to the amount of $76,324 and a small private trust fund of $1,617 constituted the floating debt of Louisiana in 1912. Free school fund. — The free school fund was estab- lished from the sale of lands granted by the United States for the support of schools, from 10 per cent of , the net proceeds from the sale of state public lands, and from escheated estates. On December 31, 1912, the fund was invested in Louisiana bonds and levee district bonds, and in a perpetual loan to the state amounting to $1,130,868, bearing interest at the rate of 4 per cent. The fund is increased frequently by the sale of lands originally granted to the state, the proceeds from such sales being invested in state or levee district bonds in accordance %vith the provisions of a number of state statutes. The income from this fund, together with the state school tax and certain other revenues, are distributed annually among the townships on the basis of school population. Seminary fun^. — The debt due by the state to the seminary fund is $136,000, being the proceeds from the sale of lands heretofore granted by the United States for the use of a seminary of learning; on this debt the state pays an annual interest of 4 per cent. This state obligation is the only asset of the fund. Agricultural and mechanical college fund. — The debt due by the state to the agricultural and mechanical college fund amounts to $182,313, being the proceeds from the sale of lands and land scrip heretofore granted by the United States to the state for the use of a col- lege of agriculture and the mechanic arts. The amount is placed to the credit of said fund on the books of the auditor and treasurer of the state as a perpetual loan, the state paying an annual interest of 4 per cent thereon. The debt due from the state is the only asset of this fund. General and special funds. — Under this heading are included the cash balances of the large number of state administrative funds which are carried on the books of the fiscal officers of the state. Table 23 gives a biennial summary of the debt, and debt less sinking fund assets from 1892 to 1912; an annual summary of the funds and investments, from 1890 to 1901, witlua biennial report from 1901 to 1912; and also a report of the debt, funds and investments, and debt less sinking fund assets for 1880. In each year indicated the general classes of the total debt, funds and investments, and the per capita debt less sinking fund assets are also shown. In arriv- ing at the per capita debt, estimates of population based on the average percentage of increase have been, used. An inspection of the table shows that both bonds and special debt obfigations to pubhc trust funds have remained practically unchanged throughout the period covered. A sHght decrease is observed in the floating debt. In the funds and investments the securities show a general increase, though the maximum of $2,683,129 was reached in 1912. The cash fluctuated between $245,833 in 1880 and $1,419,322 in 1907. 38 WEALTH, DEBT, AND TAXATION. Table 23 DEBT. rUKDS AND raVESTMEflTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. I'ISCAL YEAR ENDING DEC, 31 ' — Total. Funded. Floating. Total. Cash. Securities. Amount. Per capita. Total. Bonds. Special debt to public trast funds. 1912 $13,546,150 13,687,139 $13,468,209 13; 688, 752 $12,019,028 12,139,571 $1,449,181 1,449,181 $77,941 98,387 $3,533,154 $850,025 $2,683,129 $13,546,150 13,687,139 $7.89 1912 7.97 1911 . . . 3, 562, 579 986,068 2,676,511 1910 13,687,930 13,588,752 12,139,571 1,449,181 99,1 8 13,687,930 8.23 1909 3,254,806 868,795 2,396,011 1908 . . . 13,690,285 13,688,752 'i2,'i39f57i 1,449,181 101,533 13,690,285 8.52 1907 3,660,333 1,419,322 2,241,011 1906 13,690,974 13,588,752 12,139,571 1,449,181 102,222 13,690,974 8.83 1905 3,349,988 1,235,977 2,114,011 1904 13,694,105 13,689,682 12,140,601 1,449,1§1 104,423 13,694,105 9.16 1903 2,966,244 951,233 2,pi5,011 1902 13,592,795 13,359,807 11,910,626 1,449,181 232,988 13,692,795 9.44 1901 3,270,816 3,163,702 2,684,666 2,488,083 2,464,099 2,424,390 2,523,143 2,330,195 2,906,274 2,685,551 2,069,266 1,904,274 1,695,014 1,412,805 1,305,691 961,655 765,072 754, 088 724, 379 843, 132 660, 184 1,247,263 1,043,140 609,086 ■ 359,093 245, 833 1,868,011 1,868,011 1,723, on 1,723,011 1,710,011 1,700,011 1,680,011 1,670, OIL 1,659,011 1,642,411 1, 560, 181 1,646,181 1,449,181 1900 13,605,077 13,361,672 11,912,491 1,449,181 243,405 13,605,077 9.83 1899 1898 13,669,015 13,412,317 11,963,136 1,449; 181 266; 698 13,669,015 10.27 1897 1896 13,845,858 13,580,724 12,131,543 1,449,181 265,134 13,845,868 10.83 1895 1894 14,631,264 14,177,796 12,728,616 1,449,181 353, 468 14,531,264 11.86 1893 . 1892 16,863,441 14,849,931 13,400,750 1,449,181 1,013,510 15,863,441 13.52 1890 1880 23,437,640 23,437,640 22,430,800 1,006,840 23,437,640 24.94 ' Data pertaining to debt are for the fiscal year ending March 1 except last year reported. No sinking fund assets, as such., are recorded in any year, hence the debt less sinking fund assets is the same as the total debt. The per capita debt decreased steadily from $13.52 in 1892 to $7.89 in 1912, due to the decrease in the amount of funded debt and an increase of about 600,000 in population. MAINE. Funded debt. — On December 31, 1912, the funded debt of Maine consisted of but one series of negotiable bonds and of several special debt obligations to pubHc trust funds. The negotiable bond issue, amounting to $700, is for old bonds due but not presented for pay- ment. Of the nonnegotiable obligations of the state, three exist by virtue of acts of the legislature ap- proved March 7, 1889. The state received from the Maine Insane Hospital the sum of $50,000, bequeathed to it by the Hon. Abner Coburn, which was applied to the payment of the state debt, and a nonnegotiable registered bond for a like sum, bearing interest at 4 per cent per annum, was issued to the hospital. The state also received from the Maine State College of Agricultural and Mechanical Arts, situated in Orono, $100,000, bequeathed to it by the Hon. Abner Coburn. - This was applied to the payment of the state debt, and a nonnegotiable registered bond for a Uke sum, bearing interest at 4 per cent per annum, was issued to the coUege. Authority was given to issue a nonnegotiable registered bond in favor of the state college of agri- cultural and mechanical arts for $118,300, bearing interest at 5 per ceht, for which a like amount of war debt held by the coUege was retired. The special debt obligations to trust funds, other than the three above described, represent moneys received as pubhc trusts and converted to state uses. These obligations are shown on the accounts of the state officials as bal- ances due the several funds, but no certificates or bonds have been issued therefor. The aggregaite of all obhgations to trust funds on December 31, 1912, is $1,254,298. Floating debt. — ^No floating debt is reported for Maine in 1912. Permanent school fund. — This fund consists of the moneys received from the sale of lands set apart for the support of schools, or from notes taken therefor, and of any moneys appropriated for the same purpose. A sum equal to 6 per cent of the amount of this perma- nent school fund, and one-half the sum received by the state from the tax on the franchises of savings banks, and one-half the sum assessed upon the deposits of trust and banking companies, are required by statute to be annually appropriated to the support of the com- mon schools. This income from the permanent school fund and the appropriations from the sources above mentioned are aimually apportioned by the state treas- urer among the towns in proportion to the number of children therein between 5 and 21 years of age. Madawaska territory fund. — As provided by law, there is held in trust by the state the sum of $5,000 for the benefit of the inhabitants of the Madawaska terri- tory, as their share of the surplus revenue distributed to the inhabitants of the state in 1837, said sum to constitute a permanent fund, on which 6 per cent is paid annually for the support of the schools in the territory. Madison school district fund. — This fund of $1,000 was derived from a state bond, which the treasurer was directed to receive in trust for school district No. 2 in NATIONAL AND STATE INDEBTEDNESS. 39 the town of Madison. Interest at the rate of 5 per cent is to be paid to the district for all time to come. Agricultural college fund. — This fund consists of two nonnegotiable bonds, amounting to $118,300 and $100,000, bearing interest at the rates of 5 and 4 per cent, issued by the state to the agricultural college in return for moneys used in payment of the state debt. Foxcrqft Academy fund. — By act of legislature, there is held in trust for the use and benefit of Foxcrof t Academy the sum .of $1,000, upon which interest at the rate of 6 per cent is payable annually to the trustees. Heiron Academy fund. — This fund was created by act of legislature when the sum of $1,000 was appro- priated to be held in trust by the treasurer for the use and benefit of Hebron Academy. Annual interest at the rate of 6 per cent is to be paid to the trustees of the academy. Houlton Academy fund. — This fund of $2,000 is held in trust for the use and benefit of Houlton Academy from funds arising from the sale of timber and lumber, the legislature appropriating same for educational pur- poses. Interest at the rate of 6 per cent is payable annually to the trustees. Reform school fund. — This fund was established by a gift reported as the "Sanford legacy." The principal, amounting to $700, was diverted to general purposes by the state, which pays 6 per cent interest thereon annually to the "state school for boys." Insane Jiospitalfund. — The assets of this fund consist of a nonnegotiable state bond for $50,000 and state obUgations on account of two amounts of $1,000 each, bequeathed to the fund by the Hon. Abnfer Coburn and Joseph H. Williams, but used by the state for other purposes. The state pays interest at the rate of 4 per cent annually on these obligations. Public land fund.— This fund of $379,800 has been received from the land agent, being the amount col- lected by him from time to time on account of sales of timber and grass on reserved lots in unincorporated townships. The principal has been used, but the inter- est paid annually by the state is devoted to the support of schools in said townships. Maine Industrial School for Girls fund. — This fund is made up of four gifts or legacies bequeathed by indi- viduals to be held in trust for the Maine Industrial School for Girls, the income to be turned over to the school. Education of deaf, dumb, and Hind fund. — This fund was estabUshed by a gift known as the "Sanford leg- acy." The principal, amounting to $600, has been used for other purposes, but 6 per cent interest on said legacy is devoted toward the education of the deaf, dumb, and bUnd natives of Maine. Jordan forestry fund. — This fund of $1,000 was accepted by the legislature for the purpose of encour- aging the cultivation of forest trees. The income is utihzed for prizes to be offered once every 18 years for the best lots of young forest growth in the state. Rohie trust fund. — This fund of $4,000, all of which is invested in bank stock, was accepted as a gift from ex-Governor Robie, the same to be held in trust for the benefit of the Eastern Maine Insane Hospital as a permanent amusement and hbrary fund, the annual income thereof to be paid to the treasurer of the hospital. Carleton orcharding trust fund. — This fund, compris- ing a $1,000 railroad bond and $152 in cash, was re- ceived as a gift and is held in trust by the state. Every fifth year the accrued interest is to be used as a prize for the promotion of scientific orcharding in Maine. Table 24 DEBT. roNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL YEAR ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trast funds. Per capita. 1912 (1,254,998 1,937,249 2,307,450 1,836,502 1,573,244 1,730,801 1,966,765 2,342,816 2,243,256 2,947,671 2,826,635 3,097,002 3,234,594 3, 272, 758 3,116,471 3,208,298 3,056,311 3,101,331 3,149,033 3,295,289 3,545,618 3,585,232 3,642,276 6,678,030 $1,254,998 1,637,249 1,622,805 1,594,216 1,573,244 1,560,448 1,940,448 2,213,969 2,216,952 2,720,806 2,785,383 2,847,002 2,884,594 2,922,758 2,965,471 3,008,298 3,056,311 3,101,331 3,149,033 3,195,289 3,246,618 3,285,232 3,342,276 6,652,684 $700 407, 700 429,700 429,700 429,700 444,700 824, 700 1,111,700 1, 134, 700 1,644,700 1,714,700 1,784,700 1,834,700 1,884,700 1, 934, 700 1,984,700 2,034,700 2,084,700 2, 134, 700 2,184,700 2,238,000 2,290,200 2,351,000 5,850,500 $1,254,298 1,229,549 1, 193, 105 1,164,516 1,143,544 1,115,748 1,115,748 1,102,269 1,082,252 1,076,106 1,070,683 1,062,302 1,049,894 1,038,058 1,030,771 1,023,598 1,021,611 1,016,631 1,014,333 1,010,689 1,007,618 995,032 991, 276 702,184 $1,716,579 1,736,852 1,328,827 1, 240, 340 1,712,078 1,595,215 1, 713, 719 1,532,515 1,327,392 1,713,784 1,509,676 1,248,816 1,136,450 1, 126, 257 1,076,172 1,067,125 1, 116, 289 1,200,048 1,366,087 1,241,780 1,207,662 1,092,080 1,065,829 1,235,573 $457,281 502,303 135, 722 75,824 568,534 479, 467 597,971 430,246 245, 140 637,678 438,893 297,837 198, 879 199,522 154, 724 152,350 203,501 290,241 458,196 335, 717 304,570 199,604 175,466 70,873 $1,259,298 1,234,649 1, 193, 105 1,164,516 1,143,544 1,116,748 1,115,748 1, 102, 269 1,082,252 1,076,106 1,070,683 950,979 937,571 926, 735 920,448 914,775 912,788 909, 807 907,891 906,063 903,092 892, 476 890,363 1,164,700 $1,254,998 1,937,249 2,307,450 1,836,502 1,573,244 1,730,801 1,966,765 2,342,816 2,243,256 2,947,671 2,826,635 3,097,002 3,234,594 3,272,758 3,116,471 3,208,298 3,056,311 3,101,331 3, 149, 033 3,295,289 3,646,618 3,585,232 3,642,276 5,511,871 $1 67 $300,000 684, 645 242,286 2.59 1910 3 10 1909 2.49 2.14 1907 - . .. 170,353 26,317 128,847 26,304 226,865 41,252 250,000 350,000 350,000 150,000 200,000 2.37 1906 2.72 3.26 1904 3.14 1903 4.16 1902 4.01 1901 4.43 1900 : 4.65 1899 4.73 1898 4.63 1897 4.69 1896 4.49 4.57 1894 4.67 1893 • .. 100,000 300,000 300,000 300,000 125,346 4.91 1892 5.31 5.39 1890 5.51 1880 $1,166,159 8.49 40 WEALTH, DEBT, AND TAXATION. Penobscot and Passamaquoddy Indian funds. —/Theae funds were originally derived from sales by the land agent of timber and grass from Indian Township and sales of land purchased by the state from the Penob- scot tribe. To the proceeds of these sales there have since been added receipts from leases of the shpres of islands in Penobscot River now occupied by the tribe. The principals of these funds, to the amoimt of $109,535, have been diverted by the state to general purposes. General and special funds. — The cash balances of all administrative funds are consolidated and reported under this heading. Table 24 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows a steady decrease in the bonded indebtedness from $5,850,500 in 1880 to $700 in 1912. The special debt to public trust funds show a gradual increase from $702,184 in 1880 to $1,254,298 ia 1912, whUe the floating debt indicates quite a fluctuation for the same period. In the funds and investments the securities show a small general increase. The cash fluctuated natu- rally, the largest amount reported being $637,678 for 1903. No sinking fund assets, as such, are recorded in any year indicated, with the exception of an amount of $1,166,159, reported in 1880. Hence the debt less sinking fund assets is the same as the total debt from 1890 to 1912. The per capita debt shows a marked decrease, from $8.49 in 1880 to $1.67 in 1912, due wholly to the decrease in the total debt. MARYLAND. Funded debt. — On September 30, 1912, Maryland's funded debt, which consisted wholly of bonds, amounted • to $13,035,750. Of these bonds the largest issue, amounting to $3,191,095, is a refunding series, com- monly known as the "consolidated loan of 1899." AU the remaining bonds, with the exception of a very small series long overdue but never presented for pay- ment, were issued at different times between 1900 and 1912, either for public buildings or for pubHc roads and highways. The sinking fund and the school fund hold as investments state bonds to the amount of $5,596,889. Floating deM. — There is no floating debt for the state of Maryland. Sinking funds. — The laws authorizing the several issues of bonds contained provisions for the payment of the same by sinking funds, for the establishment of which special tax levies were made. State bonds aggre- gating $5,305,129 constitute the greater portion of the investments of these funds, though county and muni- cipal bonds in very much smaller amounts are also held as such. School fund. — AU donations or bequests of money or personal property and all grants or legacies of lands for the benefit of state schools are held in trust for the several cotmties by the state board of education. The fund thus created amounted on September 30, 1912, to $520,520, and is invested largely in state bonds and in stock of the Baltimore & Ohio Eailroad. The ia- come is distributed to the coimties in proportion to the amount held to the credit of those counties. Table 25 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. PEBT LESS SINKING FUND ASSETS. FISCAL YEAR ENDING gEPT 30 — Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $13,035,750 10,436,681 7,537,681 6, 726, 581 6,086,581 6,986,681 6,176,681 8,634,581 7,934,581 7,109,681 6,916,981 6,616.981 6,316,981 6,716,981 9,292,641 9,292,641 9,292,641 8,693,786 8,693,786 8,693,786 8,709,934 10,774,626 10,703,291 11,259,607 $13,036,760 10,436,581 7,537,581 6,726,581 6,086,581 5,986,581 6,176,681 8,634,581 7,934,581 7,109,581 6,916,981 6,616,981 6,316,981 6,716,981 9,292,641 9,292,641 9,292,641 8,693,786 8, 693, 786 8,693,786 8,709,934 10,774,626 10,703,291 11,259,607 $13,036,750 10,436,581 7,537,681 6,726,681 6,086,681 6,986,681 6,175,681 8,534,681 7,934,581 7,109,681 6,916,981 6,616,981 6,316,981 6,716,981 9,292,641 9,292,641 9,292,641 8,693,786 8, 693. 786 8,693,786 8,709,934 10,774,626 10,703,291 11,259,607 $9,648,687 8,656,024 7,675,208 7,829,016 7,418,348 7,248,742 7,327,016 7,422,484 6,750,494 6,113,397 6, 775, .369 6,293,222 4,746,432 4, 266, 851 7,240,027 7,964,713 8,029,951 7,682,776 7,056,626 7,733,483 7,139,899 8,194,659 7,783,666 4,449,466 $1,887,198 1,480,624 882,008 1,335,328 1,449,660 1,374,679 1,674,253 1,625,389 1,594,299 1,170,202 1,197,149 1,272,002 1,056,212 1,110,231 1,076,217 709,330 918,043 706,568 656, 918 674,594 489,209 546,569 696, 106 561,989 $7,661,389 7,175,400 6,793,200 6,493,688 5,968,688 5,874,063 5,662,763 6,897,095 5,166,195 4,943,195 4,578,220 4,021,220 3,690,220 3,146,620 6,163,810 7,266,383 7,111,908 6,876,208 6,499,708 7,158,889 6,660,690 7,647,990 7,087,561 3,887,477 $6,701,837 5,117,380 4,721,480 4,451,480 4,124,812 3,828,565 3,742,256 3,301,687 2,646,687 2,347,762 1,974,587 1,709,512 1,286,687 974,813 4,664,489 4,228,438 3,849,963 8,642,263 3,163,263 2,873,944 2, 476, 230 3,719,126 3,152,437 140,741 $7,333,913 6,319,201 2,816,101 2,275,101 1,961,769 2,168,026 2,433,326 6,232,994 6,287,994 4,761,829 4,942,394 4,807,469 6,030,394 4,742,168 4,628,152 5,064,203 5,442,678 5,151,623 6,530,623 5,819,842 6,233,704 7,056,600 7,560,854 11,118,866 $5.66 4.07 . 2.17 1.77 1.64 1.71 1.94 4.21 4.29 1911 1910 1909 1908 1907 1906 1906 1904 1903 1902 4.08 4.01 1901 1900 1899 4.04 1898 1897 1896 1896 1894 1893 1892 1891 1890 1880 NATIONAL AND STATE INDEBTEDNESS. 41 General and special funds. — In 1912 the general and special administrative funds aggregated $3,326,230, of which $1,500,000 represents a mortgage of the North- ern Central RaUway Co. The income from this invest- ment is applied to the general expenditures of the state. Unproductive assets. — In addition to the productive assets shown, the Maryland treasury holds a large amoimt of unproductive securities which have been acquired from time to time in aid of internal improve- ments. These consist of a $1,000,000 mortgage of the Susquehanna & Tidewater Company, and small amounts of turnpike, bridge, and canal stock. Table 25 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year the total and per capita debt less sinking fund assets are included in the table. In arriving at the per, capita debt, esti- mates of population based on the average percentage of increase have been used. An inspection of the table shows that the funded debt consists wholly of outstanding bonds. The amount shows a general decrease until 1907, after which there were new issues each year, until in 1912 the total bonds amounted to $13,035,750. In the funds and investments the securities fluctu- ated throughout the period, though the general tend- ency was to increase. The same conditions obtained in regard to the cash, hence the total funds and invest- ments in 1912 show an increase of more than $5,000,000 over the amount in 1880. The sinking fund assets show a general increase, and, being unusually large, the debt less sinking fund assets is materially less than the total debt. The per capita debt shows a general decrease from $11.89 in 1880 to $1.54 in 1908, increasing again to $5.56 in 1912. These fluctuations are due largely to the changes in the funded debt. MASSACHUSETTS. Funded debt. — On November 30, 1912, the funded debt of Massachusetts, consisting of negotiable bonds of numerous issues, amounted to $117,134,662. For convenience, this debt has been divided into (1) the direct debt, which is an obligation incurred for the benefit of the entire state, and (2) the contingent debt, which, while a direct debt of the state, has been in- curred for the benefit of 41 cities and towns in the vicinity of and including Boston, called the metro- politan district. This debt, termed ' 'contingent," was incurred by the state to aid in the administration of certain improve- ments, such as the construction of water, sewer, and park systems, etc. The various cities and towns bene- fited refund this amount to the state, by means of sinking fund assessments levied by state boards of commissioners and paid at the same time and in the same manner as state taxes, the annual payments being sufficient to accumulate at the maturity of the bonds a fund equal to their face value. The annual interest charges on these loans are borne by the mu- nicipalities and are paid in the same manner as the sinldng fund installments. In 1893 it became necessary to realize on the Fitch- burg Railroad seciuities held by the sinking funds, in order to retire bond issues then due and payable. An issue of state bonds, known as the "Fitchburg Railroad securities bond issue," was sold for the purpose of purchasing these railroad bonds, and the proceeds were placed to the credit of the various sinking funds. The total direct debt, the amounts of the bond issues, and the purposes for which issued, are given in the following statement. Total direct debt $42, 791, 583 Purchase of Fitchburg Railroad securities 5, 000, 000 Abolition of grade crossings 11, 249, 000 State highways 6, 965, 000 Medfield Insane Asylum 1, 469, 800 Metropolitan parks (series 2) 2, 567, 500 Statehouse purposes — construction, grounds, etc 2, 285, 000 Massachusetts Hospital for Consumptives 765, 500 Massachusetts Hospital for Epileptics 666, 450 Harbor improvement 500, 000 Equipment of volunteers for Spanish- American War. . 1, 240, 000 Prisons and hospitals 6, 240, 500 Suffolk County courthouse 262, 333 Armory buildings 3, 580, 500 Bonds were issued for the abolition of grade cross- ings under two acts: One, providing for such cities and towns as might wish to comply with said act; and the other, for the abolition of certain crossings of the Boston & Providence Railroad in the city of Bos- ton. The first act stipulated that the raflroads should pay 65 per cent of the cost of such alterations, the re- maining 35 per cent being divided between the state and the city or town. Under the second act the state was to repay the railroad 45 per cent of the cost of the work and the city was to repay the state 30 per cent of the amount paid the railroad. Twenty-five per cent of the amount realized by the sale of the highway bonds is to be repaid to the state by the counties wherein the highway is located, but this loan is not classed as a contingent debt of the state, as the money repaid the state is a small part of the total loan and is not applied to its payment. The metropolitan parks loan (series 2) is partly direct and partly contingent debt of the state, and is discussed under the latter heading. 42 WEALTH, DEBT, AND TAXATION. The proceeds of those issues of bonds commonly known as "war loans" were used in defraying the expenses of equipping the state's quota of volunteers for military and naval service in the war with Spain and in providing pensions for the families of those enlisted men who lost their lives whUe in the service of the United States. The state loaned its credit to provide funds for an addition to the Suffolk County courthouse in Boston, although it is to pay but one-third of the loan, col- lecting the other two-thirds from the city of Boston, and is to turn over its ownership in the building, when completed, to the county of Suffolk. The loans providing for the building of armories for the Massachusetts Volunteer Militia were originally classed as contingent debt, for, though the state built the armory, the city in which it was located paid the state annual installments sufficient to meet the inter- est charges on the bonds and to establish a sinking fund for their redemption. When the state assumed the burden of the armories on December 2, 1907, taking them from the cities where they were located, the bonds issued for armory purposes were transferred from the contingent to the direct debt. The total contingent debt, the amounts of the bond issues, and the purposes for which issued are given in the following statement : Total contingent debt $74, 343, 079 Metropolitan sewerage system : 15, 502, 912 Metropolitan parks 9, 548, 000 Metropolitan parks (series 2) 2, 567, 500 Metropolitan water system 41, 783, 000 Charles River basin 4, 417, 000 Suffolk County courthouse 524, 667 State bonds providing for metropolitan parks were issued for the acquisition and maiatenance of park places in certain cities and towns, which constitute the metropolitan park district, for the purpose of creating open spaces for exercise and recreation. An act of 1894 provided for the construction of roadways and boulevards by the state park commission, and author- ized the issue of state bonds known as the metropoli- tan parks loan (series 2) to defray the cost thereof. One-half the expense of construction, care, and main- tenance was to be borne by the state, and one-half by ■ the cities and towns of the metropolitan park district. The metropolitan water and sewerage system bonds were issued for the purpose of providing for a water supply and for the construction of main sewers for certain cities and towns. The Charles Eiver basin loan provided for the construction of a dam across the Charles Kiver, between the cities of Boston and Cam- bridge. Two-thirds of the bonds issued to provide for an addition to the Suffolk County courthouse are classified as contingent debt, and the remaining ones are treated as a direct debt. On November 30, 1912, the various state funds held as investments state bonds to the amount of $15,566,662. The sinking funds, for the redemption of du-ect and contingent debt, held $14,787,662 of these bonds, and the remainder were investments of the trust and the loan funds. Floating de6<.— Private trust obligations, in the nature of several funds amounting to $322,329, held in trust by the state for various purposes, and tem- porary loans, aggregating $346,000, borrowed in anticipation of the issue of state bonds, constitute the floating debt of the state. Sinking funds. — ^Massachusetts reports many sink- ing funds. For each act authorizing an issue or issues of bonds to secure funds for some new pin-pose there is provided also a new sinking fund to pay the interest on and to redeem at maturity all bonds issued for such a purpose. The sinking funds for the re- demption of the direct debt are made up of the pre- miums on the bonds sold and annual appropriations from the state treasury, which together with the earn- ings of the funds will be sufficient to extinguish the debt as it matures. The sinking funds established for the payment of the contingent debt afe composed of the premiums received on bonds sold, transfers from other funds, etc., and the annual assessments on the metropolitan district. Amounts, sufficient with their accumulations to redeem the contingent debt at ma- turity, are apportioned to the cities and towns bene- fited, these amounts to be paid into the treasury at the same time and in the same manner as the state tax. On November 30, 1912, the various sinking funds were invested separately, but the securities and cash balances held by them are grouped under one heading and aggregate $38,251,901. School fund. — This fund was created in 1834 by appropriations to aid in the support of public schools, and from time to time further appropriations from the state and from the United States have been added until, according to law, they ceased when the principal equaled $5,000,000. The principal is invested in county and municipal bonds and notes and in railroad bonds. Trust funds. — The treasurer of the state has been empowered to receive and hold in trust a great many funds for various purposes. The largest of these is the harbor compensation fund, created for the protection and development of certain flats and lands in the harbors of the state. The principal of $634,028 is composed of money paid for wharfage rights, and the income is used to improve the several harbors. In 1878 the commonwealth flats improvement fund, amounting to $466,014, was created for the purpose of filUng in Back Bay lands in South Boston for rail- road and commercial purposes. The receipts of the fund consist of rents from and sales of reclaimed lands, appropriations by the legislature, and income from investments; payments are made for dredging, filling, and such expenses as are incidental to the reclamation of overflowed lands. NATIONAL AND STATE INDEBTEDNESS. 43 TKe land registration fund provides that parties desiring to register land under the provisions of this act shall deposit with the recorder an amount equal to one-tenth of the assessed valuation of the land. This money is paid to the treasurer and by him invested and held as an assurance fund, the income of which is to be used to augment the principal until it shall amount to $200,000. After this sum has been accumulated the income shall be used to defray the expenses of the administration of the act. The principal is held for the benefit of any person who may have been unlawfully deprived of his interest in land by the registration, and the fund is liable for a share of the damages awarded by the courts for such deprivation. In 1912 the fund had reached the sum of $191,922. The MiUicent Library fund, consists of $100,000, given to the state by Henry H. Rogers for the support of a pubUc library in Fairhaven, and is invested in a Massachusetts bond. The technical educational funds, representing the "United States grant" and the "commonwealth grant," amount to $219,000 and $142,000, respectively. These were made in 1863 for the purpose of improv- ing and aiding technical education. Other trust funds, whose principals amount to $100,000 or more, are as follows: Larz Anderson bridge, motor vehicle fees, reformatory for women in- dustries, state prison industries, unclaimed savings bank deposits, school fund income, and Salem State Normal School. There are many funds smaller than these. The aggregate of all trust funds on November 30, 1912, is $4,080,019, and the greater part of this amount is invested in state, county, and municipal bonds and notes, and in railroad bonds and stock. Loan funds. — These funds represent the unexpended balances of moneys received from the sales of bonds, issued either directly for state purposes or for the immediate benefit of the metropolitan district. As a part of the money received from the bond sales was not needed immediately^ the state invested it in short-term securities, and thus secured a higher rate of interest than could be obtained on cash deposits. The loan funds derived from direct debt amounted in 1912 to $1,703,419, a small portion of which is invested in state, county, and municipal securities. The contingent debt loan funds aggregates $359,534, all of which is in cash. Private trust funds. — These consist of various amounts deposited with the state treasurer to be held to the credit of the funds to which they belong. Some of the funds have been invested in state, county, and city securities. The two largest funds are the insolvent corporations fund, $39,586, and the es- cheated estates fund, $245,253; the total of all funds — cash and securities — is $322,329. General and special funds. — Under this heading are reported the cash balances of all funds dealing with ordinary running expenses, which funds amounted to $2,767,965 in 1912. Table Ze FISCAL YEAR ENDING NOV. 30— 1912. 1911. 1910. 1909. 1908. 1907. 1906. 1905. 1904. 1903. 1902. 1901. 1900. 1899. 1898. 1897. 1896. 1895. 1894. 1893. 1892. 1891. 1890. 1880. Total. $117, 802, 991 116,506,130 114,676,884 110, 776, 730 109,361,856 106,004,604 101,730,933 98,392,078 95,992,433 91,691,205 84, 509, 195 78,800,845 66,039,835 67,456,229 59,786,229 51,563,729 40, 636, 729 29,675,229 29,079,766 34,811,415 29,277,415 27, 929, 415 31,381,158 33,020,464 Funded. Total. 8117,134,662 116,032,162 114,127,162 109, 520, 162 109,111,362 105, 796, 662 101,538,162 98,200,162 95, 799, 162 91,283,912 84,268,735 77,696,635 66,039,835 67,456,229 59,786,229 51,563,729 40,636,729 29,675,229 29,079,766 34,811,415 29, 277, 415 27,929,415 31, 381, 158 33,020,464 Bonds. $117,134,662 116,032,162 114,127,162 109,520,162 109,111,362 105,796,662 101, 538, 162 98, 200, 162 95, 799, 162 91, 283, 912 84, 268, 735 77, 696, 635 , 66,039,835 67,456,229 59,786,229 51,563,729 40,636,729 29,675,229 29,079,766 34,811,415 29,277,415 27, 929, 415 31,381,158 33,020,464 Special debt to public trust funds. Floating debt. $668,329 473, 968 549, 722 1,256,568 250,494 207,942 192, 771 191,916 193,271 407,293 240,460 1,104,210 FtJITDS AND INVESTMENTS. Total. $52, 566, 167 50,157,309 47,667,458 43,705,820 44,648,739 42,838,943 39,823,339 37,847,823 34,567,304 34,265,646 32,566,080 31,559,001 29, 189, 810 31,316,063 29,298,151 30,118,389 26,545,067 23, 911, 826 26,729,538 31,850,017 28,867,458 28,569,410 31,661,594 15,625,359 $6,369,966 6,208,336 6,689,308 5, 178, 107 5,757,997 6,666,220 5,060,126 4, 68/, 286 6,319,671 6,971,193 6,481,090 6, 630, 107 5,447,006 10,080,559 10, 692, 770 10, 154, 793 8, 464, 153 5,670,204 7, 858, 601 9,196,830 6,388,208 5,794,646 6,766,943 1,333,733 Securities. $46,196,201 43,948,973 40, 978, 130 38, 527, 713 38,890,742 • 37, 172, 723 34,763,213 33,165,537 28,247,633 27,294,453 26,084,990 24,928,894 23,742,804 21,235,494 18,605,381 19,963,596 18,080,914 18,341,622 18,870,937 22,653,187 22,479,250 22,774,764 24,894,651 14,291,626 Sinking fund assets. $38,251,901 35,845,173 33,358,409 30,863,096 31,013,766 28,781,235 26,616,505 24,682,634 21,464,032 19,918,042 18,304,729 16,738,241 18,223,404 15, 767, 138 15, 194, 152 13, 889, 893 13, 458, 574 13,090,474 16,986,533 21,874,202 20,342,372 19,089,914 21,568,960 12,236,248 DEBT LESS SINK- ING FUND ASSETS. Amount. -579,551,090 80,660,957 81,318,475 79, 913, 634 78,348,090 77,223,369 75,114,428 73, 709, 444 74,528,401 71,773,163 66,204,466 62,062,604 47,816,431 51,689,091 44,592,077 37,673,836 27, 178, 155 16, 584, 755 12,093,233 12,937,213 8,935,043 8,839,501 9,812,198 20,785,216 Per capita. $22.78 23.48 24.07 24.06 24.00 24.07 23.84 23.82 24.54 24.08 22.64 21.65 17.02 18.77 16.54 14.27 10.52 6.56 4.90 6.36 3.79 3.84 4.38 11.66 DEBT LESS SINKING FUND ASSETS LESS CONTINGENT DEBT. Amount. $5,208,011 6,549,212 7, 766, 730 7, 757, 222, 7, 826,674^ 5,517,467 6,146,016 7,079,032 9,538,989 10,003,751 9,349,054 10, 104, 192 8,773,019 14,164,091 12,367,077 10, 753, 8,36 9, 558, 155 5, 494, 755 4,053,233 6,857,213 3,534,043 4, 586, 501 5,942,198 20,785,216 Per capita. n.49 1.91 2.30 2.34 2.40 1.72 1.95 2.29 3.14 3.36 3.20 3.52 3.12 5.14 4.59 4.07 3.70 2.17 1.64 2.84 1.50 1.99 2.65 11.66 Table 26 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year the total 44 WEALTH, DEBT, AND TAXATION. and per capita debt less sinking fund assets are included in the table. Additional figures show the direct state and per capita debt, with the deduction of the metropolitan district debt, which, is a con- tingent debt contracted by 41 cities and towns adja- cent to Boston for the construction of parks, and one-half of the expanse of constructing the boule- vards, for the improvement and extension of " the sewerage and water systems, for the deepening of the Charles River basin, and two-thirds of the expenses of building the Suffolk. County courthouse. In arriving at the per capita debt, estimates pf popula- tion based on the average percentage of increase have been used. An inspection of the table shows a general increase in the bonded indebtedness from $33,020,464 in 1880 to $117,134,662 in 1912. No floating debt is re- corded until 1901; the figures changed greatly from year to year, and in 1912 amounted to $668,329, consisting of private trust funds and temporary loans. In the funds and investments the securities show a general increase amounting to $31,904,575, while the cash fluctuated greatly. The sinking fund assets are comparatively large, increasing $26,016,653 during the period; the debt less sinking fund assets is in consequence much less than the total debt. The per capita debt, which was $11.66 in 1880, shows a remarkable increase from $4.38 in 1890 to $22.78 in 1912. The debt less sinking fund assets less the metropolitan districts, however, shows a decrease from $5,942,198 in 1890 to $5,208,011 in 1912. The per capita debt derived from these amounts decreased from $2.65 to $1.49 during the period. MICHIG-AN. Funded deht.—On June 30, 1913, the funded debt of Michigan consisted only of special debt obligations to public trust funds, these funds beiag derived from the sale of all lands giveaby the United States to the state for educational purposes. The state has used these moneys for expenses of the government, and pays in- terest to the various funds for the use of same. On June 30, 1913, this debt amounted to $6,896,212. Floating debt. — On June 30, 1913, the floating debt is $192,880, composed of private trust funds in the form of various deposits. Educational funds. — The state constitution provides that the proceeds from the sale of all lands that have been or hereafter may be granted by the United States to the state for educational purposes, and the proceeds of all lands or other property given by individuals or appropriated by the state for like purposes, shall be and remain a perpetual fund, the interest and income of which, together with the rents of all such lands as may remain unsold, shall be inviolably appropriated and annually applied to the specific objects of the original grant, gift, or appropriation. The primary school, uni- versity, agricultural college, and normal school funds have been created under this act, and the figures given for these funds are those reported by the state treasurer for the fiscal year ending June 30, 1913. Primary school fund. — The primary school fund con- sists of amounts derived from the sale of school lands, the proceeds from the sale of swamp lands, escheats to the state, and the proceeds from the lease of certain mineral lands. The state has used these moneys for defraying the expenses of government, and pays the public schools, through the primary school interest fund, 5 per cent annually on the amount received from swamp land sales and 7 per cent on the re- mainder. On June 30, 1913, the fund amounted to $5,288,313. University, agricultural college, and normal school funds. — These funds are composed of proceeds from the sale of certain lands. The state has used the principal and pays 7 per cent interest thereon for the university and agricultural college funds and 6 per cent for the normal school fund. On June 30, 1913, the credit balances Were $646,219, $990,314, and $69,366, respectively. University deposit fund. — ^Act 140, session laws 1895 (approved May 11, 1895), provides that whenever any money, or other property of whatever nature and kind with directions or with power to convert the same into money, is or shall be given to the regents of the univer- sity upon trust to expend the income thereof in fur- therance of any of the objects of the university, the regents shall pay such money to the state treasurer, and the auditor-general shall be required to credit to the university interest fund interest, not to exceed the rate of 4 per cent per annum, upon all such moneys, said interest not to be paid from the specific tax fund. Under authority of this act $2,000 was received during the fiscal year 1900 as a legacy from Adah Z. Treadwell, the interest on the same to be expended annually for the support of a free bed in the university hospital. According to the provisions of the act, $50 interest is credited annually to the university interest fund to carry out the terms of the trust. Sundry deposit funds.— The assets of the funds in- cluded under this heading, amounting to $192,880, con- sist of cash accredited to the following: Sundry deposit, accounts, $74,567; auditor-general deposit, $53,796; land office deposit, $17,025; secretary of state deposit, $22,224; quartermaster-general (military) deposit, $13,676; quartermaster-general (navy) deposit, $4,533; quartermaster-general (armory) deposit, $6,976; and state board of health deposit, $83. General and special funds. — Under this title are con- solidated all cash balances of the general and special administrative funds. On June 30, 1913, these funds amounted to $9,174,842. Table 27 gives a summary of the debt, funds and NATIONAL AND STATE INDEBTEDNESS. 45 investments, and sinking fund assets, from 1891 to 1913, and also the same data for 1880. The total debt, also funds and investments are shown, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, esti- mates of population based on the average percentage of increase have been used. Table 27 DEBT. ruNDS AND INVESTMENT.S. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FI3CAL YFAR ENDING Total. Funded. Floating. Total. Casli. Securities. Amount. J Total. Bonds. Special debt to public trust funds. Per capita. 1913 . . $7,089,092 7.031,848 7,075,275 7,056,257 7,300,944 7,288,557 7,178,638 7,094,926 6,760,670 6,735,567 6,658,983 6,916,337 6, 866, 408 0,773,146 6,630,997 6,328,818 6,821,039 , 6,778,061 5,718,287 5,677,947 5,634,464 5,456,175 5,425,627 $6,896,212 6,890,509 6,875,884 6,864,162 6,848,199 6,835,566 6,812,542 6, 779, 800 6,747,269 6,729,070 6,652,603 6,915,337 6,856,408 6,773,146 6,630,997 6,328,818 6,821,039 5,778,061 5,718,287 6,677,947 5,634,464 5,456,175 5,425,627 $6,895,212 6,890,609 6,876,884 6,864,162 6,848,199 6,836,666 6,812,542 6,779,800 6,747,269 6,712,970 6,609,603 6,499,037 6,439,608 6,273,145 6,120,004 5,917,826 6,810,046 5,767,068 5,707,294 5,666,954 5,623,471 6,445,182 6,414,534 5192,880 141,339 199,391 192,095 452,745 452,991 366, 096 316,126 13,401 6,497 6,380 $16,263,934 16,967,634 9,196,675 9,429,784 8,534,508 9,906,368 13,633,743 18,551,831 10,796,480 11,667,565 11,126,708 9,952,848 9,067,131 8,774,703 7,534,352 7,134,037 6,593,934 6,679,490 6,126,024 6,188,779 6,170,982 6,687,153 6,639,178 $9,367,722 9,077,125 2, .320, 791 2,565,622 1,686,309 3,070,792 6,821,201 11,772,031 4,049,211 4,844,696 4,517,106 3,453,811 2,627,523 2,601,557 1,402,055 1,216,213 783,888 912,422 290, 418 521,825 547,511 1,241,971 1,224,644 $6,896,212 6,890,509 6,875,884 6,864,162 6,848,199 6,835,566 6,812,542 6,779,800 6,747,269 6,712,970 6,609,603 6,499,037 6,439,608 6,273,146 6,132,297 5,917,824 6,810,046 6,767,068 6,835,608 6,666,964 5,623,471 6,446,182 6,414,534 $7,089,092 7,031,848 7,075,275 7, 056, 257 7,300,944 7,288,657 7,178,638 7,094,926 6,718,896 . 6,677,478 6,572,746 6,442,025 6,567,668 6,624,274 6,477,340 6,326,594 6,821,039 5,778,061 5,689,975 5,677,947 6,634,464 6,456,175 5,425,527 $2,41 1912 2.43 1911 2.48 1910 2.50 1909.. 2.63 19as 2.66 1907 2.66 1906 2.67 1905 $41,774 68,089 86,237 473,312 288,740 248, 871 153,657 2,224 2.56 1904 $16, 100 43,000 416,300 416,800 600,000 610,993 410, 993 10,993 10,993 10,993 10,993 10,993 10,993 10,993 2.59 1903 2.59 1902 2.57 1901 2.67 1900 2.69 1899.. 2.71 1898 2.68 1897... . 2.58 1836 .. 2.63 1895 128,312 2.47 1894 ■2.65 1893 2.57 1892 2.52 1891... . 2.55 18901 1880 4,461,653 4,461,653 906,160 3,556,503 6,435,146 1, 578, 643 3,856,503 1,208,895 3,252,758 1.99 1 Not reported. An inspection of the table shows a fluctuating bonded indebtedness, which varied from $905,150 in 1880 to $16,100 in 1904, after which year it dis- appeared entirely. The special debt to public trust funds increased steadUy during the whole period. The floating debt, first recorded in 1903, fluctuated greatly, reaching the maximum amount of $452,991 in 1908. In the fimds and investments the securities show relatively small change. The cash, subject to natural change from year to year, shows a general increase during the period. No sinking fund assets, as such, are recorded after 1905. The amoimts shown for the prior years were small with the exception of that for 1880 and do not materially affect the total debt. The per capita debt remains approximately the same. MINNESOTA. Funded debt— On July 31, 1912, the funded debt of Minnesota consisted of $900,000 in certificates of in- debtedness held largely by the school fund. Floating debt. — The floating debt consists of out- standing warrants amounting to $445,290. Internal improvement land fund. — ^This fund was ' created, as the name implies, for internal improve- ments, roads, bridges, etc., and is invested in prison building certificates of indebtedness, and real estate mortgages. Permanent scJiool fund. — The principal of the school fimd is derived from the sale of the sixteenth and thirty-sixth sections of land in each township, a total of 3,000,000 acres. In addition, one-half the proceeds of the sale of swamp lands remaining to the state after the various grants to railroad companies and state institutions have been made shall revert to this fund. The funds are invested in Minnesota certifi- cates of indebtedness, other state bonds, real estate mortgages, and city, county, township, and school district bonds. The income from these investments is apportioned for the support of the common schools of the state. Permanent university fund. — This fund is derived from the sale of 186,569 acres of land, donated by Congress. It is invested in real estate mortgages, other state bonds, and city, county, township, and school district bonds. Swamp lands fund. — This fund was derived from the sale of swamp lands — more than 1,500,000 acres — set apart by Congress to be divided between the school fund and the educational and charitable institutions of the state. Its investments are real estate mort- gages, other state bonds, and city, county, town- ship, and school district bonds. The state institution land fund was merged into this fund in 1907. 46 WEALTH, DEBT, AND TAXATION. General and special funds. — The cash balances of the administrative funds, and all others having no invest- ments, are reported under this heading. Table 28 gives a biennial smnmary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. Table 28 DEBT. • FUNDS AND INVESTMENTS. Sinking fund assets. DEBT lESS SINKINQ FUND ASSETS. FISCAL TEAR ENDING JXTLY 31 — Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $1,345,290 8900,000 »900,000 1445,290 $30,265,400 $2,992,729 127, 272, 671 $1,345,290 $0.63 19111 1910 2,149,189 2,100,000 2,100,000 49, 189 28,848,902 4,261,232 24,587,670 2, 149, 189 1.03 19091 1908 2,999,597 2,900,000 2,900,000 99,597 25,817,880 2,968,282 22,849,598 $149,203 2,850,394 1.41 19071 1906 3,583,369 3,550,000 3,550,000 33,369 22,235,255 1,810,904 20,424,351 99,450 3,483,919 1.79 19051 1904 3,478,653 3,309,000 3,309,000 169, 653 19,904,844 1,467,314 18,437,530 88,961 3,389,692 1.80 19031 1902 2,120,999 2,034,000 2,034,000 86,999 18,264,472 2,212,837 16,051,635 81,970 2,039,029 1.12 19011 1900 2,154,354 2,044,000 2,044,000 110,354 15,944,419 2,169,337 13,775,082 279, 787 1,874,567 1.07 18991 1898 1,914,066 1,784,000 1,784,000 130,066 14,664,795 2,184,612 12, 480, 183 261, 016 1,653,050 0.99 18971 1896 2,016,450 1,774,000 1,774,000 242,450 14,960,927 2,465,985 12,494,942 339,942 1,676,508 1.06 18951 1894 2,388,608 2,074,000 2,074,000 314,608 12,103,366 2,045,925 10,057,441 198,987 2,189.621 1.47 18931 1892 2,335,013 2,269,000 2,269,000 66,013 12,691,040 1,848,453 10,842,587 163,273 2,171,740 1.55 18911 1890 4,551,896 6,140,000 4,480,000 2,565,000 4,480,000 2,565,000 71,896 2 3,575,-000 13,336,239 5,880,527 1,638,224 264,152 11,698,015 5,616,375 2,125,518 722,631 2,426,378 5,417,369 1.85 1880 6.94 1 Not reported. 3 Not recognized as valid in 1880 ("accumulated interest on railroad bonds of 1858.") In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows a general reduc- tion in the bonded indebtedness from $4,480,000 in 1890 to $900,000 in 1912. The floating debt, which amounted to $3,575,000 in 1880, shows a decided de- crease to $71,896 ia 1890, fluctuating considerably until it reached the maximum in 1912. In the funds and investments the securities show a general increase from $5,616,375 in 1880 to $27,272,671 in 1912. The cash fluctuates throughout the period, reaching the maximum amount of $4,261,232 in 1910. The sinking fund assets show variations until 1910, when the entire fund was used to pay off the bonded indebtedness. The debt less sinkiag fund assets does not differ materially from the total debt. A steady decrease is noticeable in the per capita debt, due partly to the decreased funded indebtedness and partly to the increase in population. MISSISSIPPI. Funded debt. — The funded debt of Mississippi on September 30, 1912, consisted of several series of bonds and of special debt obligations to public trust funds. The sum of $2,899 remains of an old bond issue past due. The other issues, amounting to $1,504,000, were for revenue deficit and refunding purposes and for the purpose of defraying the expenses of state government. The special debt obligations to public trust funds represent obligations to several educational funds, the principal ($2,344,674) of which has been used by the state, for which it pays an aimual interest of 6 per cent in perpetuity. Floating debt. — ^The floating debt consists of outstanding warrants and a temporary loan of $600,000. Common school fund. — The common schools are supported entirely by state appropriations, a poll tax being levied for that purpose, there being no invested funds for their maintenance. Public trust funds. — On September 30, 1912, there were in the possession or control of the state six trust funds held for various institutions of learning. The Chickasaw school fund, derived from the sale of lands of the Chickasaw concession, amounts to $1,034,403. The university fund, of $701,047, was received from the sale of university lands donated to the state by Congress. The seminary fund, provided in the same manner, has been transferred to this fmid. The industrial institute and college fund, the proceeds from the sale of lands donated by Congress, amounts to $159,565. The agricultural and mechanical col- lege fund, of $141,213, received as proceeds of the sales of land donated by Congress. The Alcorn Agri- cultural and Mechanical College fund, amounting ia NATIONAL AND STATE INDEBTEDNESS. 47 1912 to $96,296, represents the proceeds of sales of land donated by Congress. The agricultural college fund, growing out of the sale of land scrip allotted to the state by the United States, amounted in 1912 to $212,150. General and special funds. — Under this heading are grouped the cash balances of all funds having no investments. Table 29 shows a simmiary of the debt, fimds and in- vestments, and sinking fund assets, from 1890 to 1912, no reports being received for 1892, 1893, 1896, 1897, and 1906. The same data are also shown for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and.for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of popu- lation based on the average percentage of increase have been used. Table 29 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAK ENDING SEPT. 30 — Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 {4,460,519 4,196,712 3,657,439 3,588,253 3,590,351 3,588,727 $3,851,673 4,187,153 3,651,392 3,580,670 3,579,950 3,579,097 SI, 606, 899 1,842,899 1,308,399 1,242,899 1,242,899 1,242,899 $2,344,674 2,344,264 2,342,993 2,337,771 2,337,061 2,336,198 $608,946 9,559 6,047 7,583 10,401 9,650 $2,595,673 2,916,301 2,436,804 2,513,709 2,340,706 2,338,518 $250,999 572,047 93,811 176,938 3,665 2,320 $2,344,674 2,344,254 2,342,993 2,337,771 2,337,051 2,336,198 $4,460,619 4,196,712 3,657,439 3,588,253 3,590,351 3,588,727 $2.41 1911 2.30 1910. 2.03 1909 2.02 1908 2.05 1907 2.08 1906 1 1905.. . 3,623,983 3,393,428 3,014,950 2,876,624 2,885,027 2,903,088 2,666,048 2,766,807 3,416,001 3,377,817 2,883,227 2,856,799 2,878,126 2,890,557 2,641,001 2,713,783 1,118,899 1,122,899 622,899 622,899 667,899 1,005,899 1,005,899 1,090,937 2,297,102 2,254,918 2,260,328 2,233,900 2,210,227 1,884,658 1,636,102 1,622,846 207,982 15,611 131,723 19,826 6,901 12,531 2,549,799 2,736,070 2,285,754 2,494,065 3,038,681 2,607,060 1,968,868 1,806,297 252,697 481,162 25,426 260,165 828,454 622,402 333,766 183,451 2,297,102 2,254,918 2,260,328 2,233,900 2,210,227 1,884,668 1,635,102 1,622,846 3,623,983 3,393,428 3,014,950 2,876,624 2,885,027 2,903,088 2,666,048 2,766,807 2.16 1904 2.06 1903 1.85 1902 1.79 1901 1.83 1900... 1.87 1899. 1.76 1898 1.84 18971 1896 1 1895 3,234,807 3,241,353 3,208,050 3,212,036 605,937 606,937 2,602,113 2,606,098 26, 757 29,318 2,609,773 '2,692,243 7,660 86,146 2,602,113 2,606,098 3,234,807 3,241,353 2.27 1894 2.32 1893'. 1892 ■ . . . 1891 3,462,318 3,684,589 3,324,084 3,302,679 3,475,849 2,937,261 611,137 769,437 530,616 2,69i,542 2,706,412 2,406,646 169,639 208,740 386,823 3,111,940 3,029,697 3,207,403 420,398 323,186 800,757 2,691,542 2,706,412 2,406,646 3,462,318 3,684,589 3,324,084 2.63 1890 2.86 1880 2.94 I Not reported. An inspection of the table shows a fluctuating bonded indebtedness, reaching more than $1,000,000 dining the first decade, and varying from $530,615 in 1880 to $1,506,899 in 1912. There is little change in the special debt obligations to public trust funds, while the floating debt shows a marked variation. In the funds and investments the securities re- main approximately the same throughout the period covered, while the cash shows decided changes. No sinking fund assets, as such, are recorded in any year, therefore the debt less sinking funds is the same as the total debt. The per capita debt shows no material changes, being only slightly affected by the fluctuating indebtedness. MISSOURI. Funded debt. — The funded debt of Missouri on De- cember 31, 1912, consisted of capitol building bonds and school and seminary certificates of indebtedness, amounting to $4,683,839. Capitol building bonds of $285,000, bearing interest of 3.5 per cent, were issued for the purpose of building a new state capitol. The certificates of indebtedness for the state school fund amount to $3,159,000, and consists of one 6 per cent certificate of indebtedness for $2,909,000, and six 5 per cent certificates of indebtedness amounting to $250,000. The certificates of indebtedness issued for the purpose of the seminary fund, consist of one 6 per cent certificate of indebtedness for $122,000, and thirteen 5 per cent certificates of indebtedness of $1,117,839. Un- der the provisions of the state laws, whenever one of these certificates of indebtedness matures it shall be canceled by the board of education and a new certifi- cate for a like amount in renewal thereof shall be exe- cuted by the governor for a period of 20 years, bearing the same rate of interest. Floating debt. — ^The floating debt is made up of pri- vate trust obligations in the form of unclaimed estates, money paid into the treasury by executors and adminis- trators, assignees for the benefit of creditors, and va- rious other sums that have escheated to the state ; this fund in, 1912 amounted to $91,688. Sinking fund. — This fund was created as a sinking fund for the purpose of crediting a tax of two cents on the one-hundred dollar valuation of all taxable prop- erty in the state, said receipts to be used in the pay- 48 WEALTH, DEBT, AND TAXATION. ment of capitol bonds and the interest accruing thereon until same is paid and canceled^ The assets of this fund iu 1912 consist of a cash balance of $104,309. School fund. — Congress granted to Missouri for school purposes all salt springs not exceeding 12 in number, with six sections of land adjoining each, which grant formed the nucleus for this fund. The proceeds thus arising were invested. It was further provided that the interest and profits accruing from the "sur- plus revenue " of the United States deposited with this state should be held for the use and support of schools. Interest and dividends upon these amounts were to be appUed to increasing the capital. This fund was in- creased later by the proceeds from the sales of lands, dividends on investments, and premiums on securi- ties sold, as well as from various other sources. In 1881 the general assembly authorized the fund com- missioners to issue a consolidated certificate of in- debtedness, and on December 31, 1912, these certifi- cates of indebtedness amounted to $3,159,000, as stated elsewhere. This does not include, however, a cash balance of $281. Seminary fund. — Congress provided that 46,080 acres of public lands should be reserved solely for the use of a seminary. Later, Congress authorized the legislature to sell these lands and invest the money, the proceeds to be applied forever to the use of a semi- nary. From various sources the fund was augmented until 1881, when the board of fund commissioners issued in lieu of the renewal funding bonds a consoli- dated certificate of indebtedness of the state for $122,000, payable 30 years after date, with interest at the rate of 6 per cent. In 1883 the fund commission- ers were further authorized to borrow any moneys paid into the state for the seminary fund and to issue certificates of indebtedness, similar to those issued to the common school fund. This total in 19 12 amounted to $1,239,839, which does not include other securities and a cash balance of $3,720 held by the fund. Escheats fund. — This fund, amounting to $91,688 on December 31, 1912, is made up of moneys paid into the treasury by executors and administrators; by sheriffs from the sale of land in partition, and pro- ceeds of sales of real estate escheated to the state ; unclaimed allowances against estates; unclaimed divi- dends in insolvent insurance companies and various other sources. These moneys are paid out on certi- fied orders of the courts to those entitled thereto, pro- vided they are claimed within 21 years from date of deposit in the treasury; after this period all moneys escheat to the state and are then transferred to the public school fund. General and special funds. — ^Under this heading are included all special and administrative fimds having as assets a cash balance. On December 31, 1912, this amount was $2,781,832. Table 30 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. Table SO DEBT. FUNDS AND INVESTMENTS. RinVing fund assets. $104,309 DEBT LESS SINKING FUND ASSETS. FISCAL YEAB ENDING Total. Funded. Floating. Total. Cash. Securities. AiLount. Total. Bonds. Special. debt to public trust lunds. Per capita. 1912 $4,775,527 4,480,496 4,471,055 4,460,332 4,453,223 4,446,648 4,439,220 4,439,272 4,437,120 4,433,773 4,919,632 $4,683,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,886,839 $285,000 $4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 $91,688 81,657 72,216 61,493 54,384 47,709 40,381 40,433 38,281 34,934 33,793 $7,405,669 6,462,661 6,253,385 6,864,319 6,814,488 5,351,989 6,711,125 6,285,290 6,515,403 6,232,625 6,397,242 $2,981,830 2,038,712 1,829,646 1,447,480 1,403,649 947,150 2,308,286 1,886,451 2,116,564 1,833,786 1,998,403 $4,423,839 4,423,839 4,423,839 4,416,839 4,410,839 4,404,839 4,402,839 4,398,839 4,398,839 4,398,839 4,398,839 $4,671,218 4,480,496 4,471,055 4,460,332 4,453,223 4,446,548 4,434,682 4,265,148 4,231,439 3,912,482 4,399,428 SI 40 1911 1 35 1910 1909 1 36 1908 1907 1 37 1906 4,638 174,124 205,681 521,291 520,204 1.38 1.33 1.33 1.24 1.40 1905 1904 1903 1902 19011 487,000 1900 6,280,839 6,280,839 1,887,000 4,393,839 5,472,771 1,078,932 4,393,839 217,323 6,063,516 1.95 18991 1898 . . . 8,036,839 8,035,839 3,642,000 4,393,839 5,290,949 897,110 4,393,839 71,042 7, 964," 797' 2.63 18971 1896 9,369,839 9,369,839 5,000,000 4,369,839 4,947,302 577,463 4,369,839 106,997 9,262,842 3.15 18951 1894 10,364,958 10,364,968 6,016,000 4,338,958 5,058,684 719, 726 4,338,958 286,638 10,068,420 3.53 18931 1892 11,011,958 11,011,958 6,680,000 4,331,958 4,894,236 562,278 4,331,958 52,172 10,959,786 3.96 1891 1 1890 12,213,000 19,609,000 12,213,000 19,509,000 8,533,000 18,609,000 3,680,000 900,000 4,684,484 3,548,617 904, 484 517,517 3,680,000 3,031,000 453, 168 11,769,832 19,609,000 4.39 9.00 1880 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. 49 An inspection of the table shows a decreasing bonded indebtedness from 1880 to 1902, after which it dis- appeared entirely until 1912, when there was an issue of $285,000. The special debt to pubhc trust funds remains practically unchanged. In the funds and investments the securities are approximately the same throughout the period, while the cash shows a general increase. The sinking funds varied greatly, disappearing from 1907 until 1912, which year shows a fund amounting to $104,309. This fund was at no time sufficiently large to make a material difference between the debt less sinking fund assets and the total debt. The per capita debt declined steadily from $9.00 in 1880 to $1 .40 in 1912, due to the increase in population and the decrease in the funded debt. MONTANA. Funded deht. — On November 30, 1912, the funded debt of Montana was $1,200,000, and consisted of bonds of which there were four series outstanding. Three of these issues were for the erection of the state capitol. One is an old issue — that of $350,000 — the remaining two, however, being of more recent date, namely, $500,000 issued in 1909 and $150,000 issued in 1911. Capitol building bonds are not a direct obhgation of the state of Montana, but are secured by 182,000 acres of land on which the timber is valued at more than $3,000,000. The fourth issue outstanding is that of state bonds to the amount of $200,000, issued in 1909, bearing interest at the rate of 4 per cent and redeem- able at the option of the state; $75,000 of these will be redeemed on January 1, 1913. These bonds were ' 'issued by the state board of land commissioners, for the use and benefit of various state educational insti- tutions, and also to make whole the permanent funds of the various state educational institutions." Floating deht. — The floating debt of the state is made up of outstanding warrants, amounting to $547,910. Sinking fund. — ^The sinking fund of Montana for 1912 amounts to $235,036, and holds as assets school district bonds ($103,000), capitol building bonds ($105,000), and cash ($27,036). This fund is known as the "capitol building and interest sinking fund," and provides for the paying off of principal and interest on bonds issued for the purposes of erecting additions to the state capitol. School fund. — The school fund consists of the pro- ceeds of such lands as have been or may be granted by the General Government, known as school lands; all other lands or property belonging to any fund for purposes of education; estates that have escheated to the state; and all other grants, gifts, devises, or bequests made to the state for general educational pur- poses. The fund in 1912 amounted to $3,072,564, and is invested in state and county securities and state warrants, and includes $613,875 cash. The in- come only is used, being turned into the school income fund. University fund. — The permanent fund of the uni- versity is derived from the sales of land granted to the state for university purposes. The fund in 1912 is invested in state and county securities and amounted to $246,951, including $7,271 cash. The income from this fund goes to the support of the university. 28652°— 14 4 Agricultural college fund. — This fund is derived from the proceeds of the sale of lands granted by the United States to Montana for the purpose of establishing and maintaining a college of agriculttu-e. The fund is to be invested and the income used for its support. This fund will undoubtedly increase at a rapid rate, as the lands held to its credit are very valuable. The total on November 30, 1912, is $349,725, invested in state and county securities, with a cash balance of $17,355. Deaf and lilind school fund. — For the establishment and maintenance of this school 50,000 acres of land were granted to the state by the United States, and the proceeds of the sales of this land constitute this fund, the interest of which only shall be expended for its support. The fund in 1912 amounted to $125,395, consisting of cash, $326, and the remainder invested in state and county securities. Normal school fund. — The permanent normal school fund is derived from the proceeds of the sale of lands granted the state by the United States, 100,000 acres having been granted for this purpose. The interest alone from the sale of this land goes to the support of said school. In 1912 the fund is $345,524, with a cash balance of $9,409. Reform school and school of mines funds. — The funds of both of these schools consist of the proceeds of the sale of lands granted for this purpose — the former being granted 50,000 acres and the latter 100,000 acres. Like the other school funds, the interest only is to be used in their support. The total amount of the reform school fund on November 30, 1912, is $73,587, and that for the school of mines $267,568. General and special funds. — The cash balance of the general fund is included with various other funds under this heading, and in 1912 amounted to $714,038. Table 31 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows that with the exception of 1880 the state was without bonded in- debtedness until 1895, when an issue of $45,000 is 50 WEALTH, DEBT, AND TAXATION. recorded; additional amounts were issued until in 1912 the bonds amounted to $1,200,000. The floating debt increased from $175,190 in 1890 to $547,910 in 1912. In the funds and investments the securities increased from $21,500 to $4,028,747 during the period from 1892 to 1912. Table 31 DEBT. FUNDS AND INVESTMENTS. Sinlcing fund assets. DEBT LESS SINKING FUND A.SKETS. FISCAl YEAR ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per ca;iita. 1912 $1,747,910 1,702,566 1,472,779 1,719,827 1,229,682 1,078,979 1,156,068 1,568,094 1,489,346 1,454,618 1,316,252 1,261,310 1,167,946 1,160,959 833,608 792,258 613,164 417,726 248,511 237,473 128,392 145,528 175,190 70,000 $1,200,000 1,279.000 1,189,000 1,234,000 708,000 796,000 796,000 796,000 846,000 845,000 820,000 780,000 760,000 640,000 320,000 250,000 140,000 45,000 $1,200,000 1.279,000 1 189,000 1,234,000 708,000 795,000 795.000 795,000 845,000 845,000 820,000 780,000 760,000 640,000 320,000 250,000 140,000 45,000 $547,910 423,566 283,779 485,827 621,582 283,979 361,068 773,094 644,346 609,618 495,252 481,310 397,946 510,959 513,608 542,258 473,164 372,726 248,511 237,473 128,392 146,628 176,190 $5,430,388 4,498,704 3.930,966 3,458,777 3,141,509 2,504,572 1,988,416 1,642,861 1,368.889 1,163.663 1,046.524 929,937 736,833 739,161 432,121 396,716 259,701 273,035 219,597 219,310 184,010 68,760 187,181 (■) $1,401,641 923,081 568, 155 496,482 664,117 691,856 840, 191 702,573 562,342 484.846 596,725 555,221 514,627 628.416 255.720 304,233 238,201 251,535 198,097 197,810 162,610 68,760 187,181 $4,028,747 3,575,623 3.362,801 2,962,295 2.577,392 1,812.716 1,148,224 940,288 806, 547 678.807 449,799 374,716 222,206 110,745 176,401 92,483 21,500 21,500 21,500 21,500 21,500 $235,036 224,847 222,155 181,184 180,974 84.935 317,852 86,123 183,630 54.551 115,285 88,641 55,959 40,691 19,437 13,986 2,469 2,499 $1,512,874 1,477,709 1,250,624 1,538,643 1,048,608 994,044 838, 216 1,481,971 1,305,716 1,400,067 1,199,967 1,172,769 1,101,987 1,110,268 814,171 778,272 610,695 415,227 248,511 237,473 128,392 145,528 175, 1£0 70,000 $3.73 1911 3.77 1910 3.30 1909 .^ 4.21 1908 2.98 1907 2.94 1906 2.68 1905 ■ 4.76 1904 4.38 1903 4.92 1902 4.42 1901 4.55 ISOO 4.51 1899 4.74 1898 3.63 1897 3.64 1890 2.99 1895. ... 2.14 1894 1.35 1893 1.37 1892 0.78 1891 0.96 1890 1.23 1880 70,000 70,000 (0 1.79 1 Not reported. No sinking fund assets, as such, are recorded until 1895, when $2,499 was held; this amount increased to $235,036 ia 1912, and the debt less sinking fimd assets is correspondingly less than the total debt. The population of the state increased gradually and served to lower the per capita debt, but the rate of increase is not sufficient to offset the very marked increase in the total debt; hence the per capita debt advanced from $1.79 in 1880 to $3.73 in 1912. The maximum per capita debt was reached in 1903, when it amounted to $4.92, while the minimum amount recorded was $0.78 in 1892. NEBRASKA. Floating debt. — On November 30, 1912, a floating debt of $374,394, outstanding warrants, constituted the only debt of Nebraska. School fund. — The state constitution directs that the revenue from the following sources be set aside for a perpetual common school fund, the income only being available: First, the percentage granted by Congress on the sale of public lands in the state; second, the proceeds from the sale or lease of sections 16 and 36 in each township ; third, the proceeds of all lands granted to the state not otherwise appropriated ; fourth, such sums as shall accrue from escheated estates; fifth, all other property, stocks, bonds, etc., belonging to the fund. This fund, amounting in 1912 to $8,482,143, is invested, exclusive of the cash balance, by the board of education in other state bonds, Nebraska warrants, and in county, municipal, school district, and drainage bonds. The state is responsible for any loss in the principal. University fund. — This fund was derived from the sale of 45,426 acres of land granted by Congress. In 1912 it amounted to $218,377, invested in Nebraska warrants, other state bonds, and in county, mimicipal, and school district bonds. Agricultural college fund.— The principal of this fund was derived from the sale of 90,150 acres of land donated by Congress. This fund, amounting in 1912 to $545,064, is invested in other state bonds, Nebraska warrants, and in county, municipal, and school bonds. Normal endowment fund. — The principal of this fund was derived from the sale of 12,804 acres of land, appropriated by the state legislature. On Novem- ber 30, 1912, the fund amounted to $80,819, and is invested in Nebraska warrants, county and municipal bonds. General and special funds. — ^Under this heading are grouped the cash balances of the administrative and several other funds having no investments. Table 32 gives a biennial summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated NATIONAL AND STATE INDEBTEDNESS. 51 the total and per capita debt less sinkiag fund assets are included in the table. In arriving at the per capita debt, estimates of poptdation based on the average percentage of increase have been used. An inspection of the table shows a small bonded indebtedness, which disappeared in 1900. The floating debt shows marked changes, reaching the maximum amount, $2,342,980, in 1904. Table 32 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKINO FUND ASSETS. FISCAL YEAR ENDING t Total. Funded. Floating. Total. Cash. Securities. Amouni . Total. Bonds. Special debt to public trust funds. Per capita. 1912 $374,394 $374,394 $9,881,298 $573,310 $9,307,988 $374,394 $0.31 19111 1910 234,452 234,452 9,464,980 601,290 8,863,690 234,452 0.20 19091 1908 836,417 836,417 8,660,233 384,437 8,275,796 836,417 0.72 19071 . 1906 1,986,489 1,986,489 7,780,530 331,900 7,448,630 1,986,489 1.74 19051 1904 2,342,980 2,342,980 6,607,808 336,854 6.270,954 2,342,980 2.10 19031.. 1902 2,005,001 2,005,001 5,889,233 432,255 5,456,978 2,005,001 1.83 1901 1 1900 1,782,485 1,782,485 4,980,563 616,018 4,365,545 $56,165 1,726,320 1.62 18991. 1898 1,727,570 5153,267 $153, 267 1,574,303 3,941,320 624,524 3,316,796 14,223 1,713,347 1.61 18971 1896 2.464,048 468,267 468, 267 1,995,781 4,731,357 1,458,106 3,273,251 137,738 2,326,310 2.18 18951 1894 1,188,932 549,267 549,267 639,665 3,874,367 880,026 2,994,341 51,947 1,136,985 1.07 18S3 1 . 1892 1,405,705 549,267 549,267 856,438 3,791,597 1,181,085 2,610,512 196,703 1,209,002 1.14 18911 1890 449,267 499, 267 449,267 499,267 449.267 499,267 3,910,691 956,866 1,599,249 343,019 2,311,442 613,847 195,388 59,468 253,879 439, 799 0.24 1880... 0.97 1 Not reported. In the funds and investments the securities increased steadily from $613,847 in 1880 to $9,307,988 in 1912. The cash shows a general decrease during the period covered. The sinking fund assets, as such, disappeared in 1902. The debt less sinking fund assets is approxi- mately the same as the total debt. The sinking fund assets recorded from 1880 to 1900 were too small to have an appreciable effect upon the total debt. The per capita debt reached the maximum of $2.18 in 1896; in 1910 it was $0.20, the extremes being due to the fluctuation in the total debt. NEVADA. Funded, debt. — The funded debt of Nevada amounted to $614,000 on December 31, 1912. It consists of $234,000 in bonds, the several issues being held by various educational institutions, and of $380,000 in nonnegotiable certificates of indebtedness, tabulated as a special debt obligation to public trust funds. Floating debt. — The floating debt of Nevada in 1912 consists of outstancUng warrants to the amount of $56,759. Sinking fund. — The sinking fund is derived from direct taxation, the constitution providing that every law authorizing a loan shall provide for the levying of an annual tax sufficient to pay the debt in full within 20 years. On December 31, 1912, the cash in the sinking fund amounted to $63,064. School fund. — At the close of the fiscal year 1912 the permanent school fund amounted, to $2,184,702, and is invested, exclusive of the cash, in Nevada bonds, special certificates of indebtedness, United States bonds, and other state bonds. The income alone is available for expenditure. University fund. — This fund consists of $29,000 state of Nevada bonds, $102,000 Massachusetts bonds, and $26,334 in cash; the income only is used for the benefit of the state university. General and special funds. — The cash in the general fund and in the various other funds of the state, having no investments, are tabulated as "General and special funds." Table 33 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows that the bonded indebtedness did not change very greatly, there being an increase of only $54,000 in a comparison of 52 WEALTH, DEBT, AND TAXATION. figures for 1912 and 1890. The special debt to public trust funds remained tbe same throughout the entire period. The floating debt fluctuated from year to year, b ut was never large enough to make any appreciable dif- ference in the total debt. Tailless FISCAL YEAR ENDING DEC. 31— 1912. 1911. 1910. 1909. 1908. 1907. 1906- 1906. 1904. 1903. 1902. 1901. 1900. 1899. 1897. 1890. 1895. 1894., 1893. 1892. 1891. 1890. 1880. «S70,769 493, 143 617,496 628,243 603,081 611,655 661,043 652, 823 664, 715 647,448 642,398 645,210 676,957 673,377 684,484 675,448 618,433 638,486 537,629 683, 764 685, 122 688,723 666,808 436,400 Funded. Total. $614,000 463,000 662,000 502,000 550,000 586, 700 613, 000 633,700 635, 100 630,100 620, 100 633,100 657, 000 671, 739 667,364 672,364 607,000 630, 000 630,000 669,000 663,000 586,000 660,000 436,400 $234,000 83,000 172,000 122,000 170,000 206,700 233,000 253,700 256, 100 260, 100 240,100 263,100 277, 000 291,739 287,364 292,364 227,000 260, 000 150, 000 189,000 183,000 206,000 180,000 66,400 Special debt to public trust funds. $380,000 380,000 380,000 380,000 380,000 380,000 380, 000 380, 000 380,000 380,000 380, 000 330, 000 380, 000 380,000 380,000 380,000 380,000 380,000 380,000 380,000 380,000 380,000 380,000 380,000 Floating. $66,769 30, 143 66,495 26, 243 53,081 24,965 38,043 19,123 19,615 17,348 22,298 12,110 19,367 1,638 17,120 3,084 11,433 8,486 7,629 14,764 22, 122 2,723 6,808 FUNDS AND IN%'ESTMENTS. Total. $2,703,028 2,495,066 2,717,631 2,572,786 2,677,727 2,521,055 2,252,310 2,048,441 1,970,937 1,899,855 1,808,717 1, 723, 121 1,691,611 1,627,201 1,587,278 1,670,309 1,619,890 1,617,894 1,449,263 1,468,311 1,463,162 1,407,909 1,426,825 845,210 Cash. $579,028 622,066 655, 631 560,785 802, 727 674,355 479,310 350,341 394, 837 328, 755 288,617 270,021 264,011 270,462 234,914 257,945 272,890 287, 894 319,203 399,311 400, 162 321,909 366,825 315,210 Securities. $2, 124, 000 1,973,000 2,062,000 2,012,000 1,875,000 1,846,700 1,773,000 1,698,100 1,576,100 1,571,100 1,520,100 1,453,100 1,427,600 1,356,739 1,362,364 1,312,364 1,247,000 1,230,000 1,130,000 1,069,000 1,063,000 1,086,000 1,060,000 530,000 Sinking fund assets. $63,064 41, 139 76,448 67,245 62,640 63,718 41,702 38,203 38,179 44,670 18,494 18,829 29,501 36, 819 21,038 28,590 3,213 23,142 4,332 32,222 32,526 31,994 29,619 61,158 DEBT LESS SINKING FUND ASSETS. Amount. $607,695 452,004 642,047 460,998 640,441 557,937 609, 341 614, 620 616, 636 602,878 623,904 626,381 647,466 636,568 663,446 646,868 615,220 615,344 633,297 651,642 652,596 566,729 637, 189 375,242 Per capita. $6.70 6.21 6.55 5.86 7.23 7.89 9.14 9.80 10.61 11.03 12.31 13.42 16.17 14.87 15.32 14.77 13.89 13.73 11.77 12.04 11.93 11.89 11.34 6.03 In the funds and investments both cash and securi- ties-show a shght general increase. The sinking fund assets, while showing a general increase, are at no time large; hence the debt less sinldng fund assets is only a trifle less than the total funded debt. The per capita debt is high, ranging from $15.32 in 1898 to $5.21 in 1911, the decrease being due largely to the increase in population. NEW HAMPSHIRE. Funded debt. — On August 31, 1912, the funded debt of New Hampshire consisted of negotiable bonds and nonnegotiable obligations to public trust funds, aggre- gating $1,376,100 and $694,639, respectively. One of the several issues of negotiable bonds is past due, and the interest upon these bonds has ceased. The remaining series were issued for various general pur- poses — such as the erection of buildings for the state library, agricultural college, state hospital, state sana- torium, and for the construction of state highways. The nonnegotiable obligations represent the principals of various funds which have been absorbed by the state, but upon which the state pays interest. The funds so converted to state purposes are the teachers' institute, agricultural college, Fiske legacy, Kimball legacy, Benjamin Thompson trust, and Hamilton Smith trust funds. Floating debt. — The floating debt of the state is made up of private trust liabilities on account of moneys held temporarily by the state for Spanish War veterans, railroad corporations, insurance companies, and savings banks. Teachers' institute fund. — This fund was derived from the sale of state lands and was originally known as the "school fund." The expenses of county teach- ers' institutes are charged annually to this fund, and any unexpended balance is carried forward to the next year. On August 31, 1912, its only asset consisted of an obligation on the part of the state amoimting to $59,598 for a sum of like amount used by the state for other purposes. Agricultural college fund. — ^This fund was derived from the sale of United States land scrip and amounted to $80,000 in 1912. The state is under obligation to the fund for this whole amount and pays 6 per cent interest upon it to the New Hampshire College of Agriculture and the Mechanic Arts. Benjamin Thompson trust fund. — This fund was created when the state accepted the provisions of the last will and testament of Benjamin Thompson, who died leaving a large share of his property to the state of New Hampshire in trust lor the establishment and maintenance of an agricultural school. A special debt obligation on the part of the state for $511,910 con- stitutes the greater part of this perpetual fund of $797,182, and the Benjamin Thompson estate together with investments make up the remainder. Hamilton Smith trust fund. — This fund consists of the sam of $10,000, donated by Hamilton Smith for the benefit of the New Hampshire College of Agricul- NATIONAL AND STATE INDEBTEDNESS. 53 ture and the Mechanic Arts. The state holds the principal in trust and pays interest thereon to the coUege at the rate of 4 per cent annually. Fiske and KimbaU funds. — These are funds created by bequests for the benefit of the state insane asylum, and in 1912 they amounted to $26,378 and $6,753, respectively. The state pays upon these amounts 6 per cent annual interest for the benefit of the asylum. Private trust funds. — These consist of amounts of money temporarily held in trust by the state treasurer. as follows: Spanish War gratuity, deposits by railroad corporations for land damages, deposits by People's Fire Insurance Company, and unclaimed savings bank deposits. General and special funds. — Under this heading are included the cash balances of all administrative funds of the state. Table 34 shows a summary of the debt, funds and investments, and sinking fund assets, from 1891 to 1912, and also the same data for 1880. Table 34 DEBT. FUNDS AND INVESTMENTS. Sinking lund assets. DEBT LESS SINKING FUND ASSETS. FISCAL YEAK ENDING \UG 31 Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $2,120,611 1,871,366 1,732,698 1,514,385 1,350,713 1,260,710 1,160,293 882,281 871,205 1,025,895 1,669,071 1,793,794 1,912,792 2,026,020 2,136,741 2,263,405 2,394,318 2,526,492 2,654,713 2,600,859 2,859,031 2,577,970 $2,070,739 1,830,739 1,691,074 1,469,555 1,299,647 1,121,021 1,107,752 837,896 845,124 1,002,931 1,650,654 1,779,361 1,903,106 2,022,452 2,134,545 2,261,209 2,392,302 2,524,699 2,652,761 2,599,042 2,855,896 2,576,984 $1,376,100 1,136,100 1,071,800 831,800 706,800 567,300 589,800 393,800 538,300 689,300 839,200 995,300 1,145,300 1,289,800 1,436,800 1,586,800 1,740,400 1,894,300 2,040,300 2,007,200 2,284,600 2,406,600 $694,639 694,639 619,274 637,765 592,847 S53,721 517,952 444,096 306,824 313,631 811,454 784,061 767,806 732,652 697,745 674,409 651,902 630,399 612,461 591,842 571,296 170,384 $49,872 40,627 41,624 44,830 61,066 139,689 42,641 44,385 26,081 22,964 18,417 14,433 9,686 3,668 2,196 2,196 2,016 1,793 1,952 1,817 3,135 986 $1,713,748 1,380,197 1,410,697 1,117,925 1,150,702 1,087,478 1,177,094 986,374 1,116,314 1,212,009 1,717,137 1,562,456 1,544,498 1,416,576 1,456,856 1,260,607 1,211,304 1,123,412 1,223,566 1,053,760 1,272,007 483,016 $568,837 335,286 430,686 82,341 150,957 122, 190 244,907 86,074 246, 771 372,110 576,239 448,483 456,569 341,987 414,861 241,918 212,016 143,427 269,369 107,622 345,225 312,632 $1,144,911 1,044,911 979,911 1,035,584 999,745 965,288 932, 187 900,300 869,643 839,899 1,140,898 1, 113, 973 1,087,939 1,074,688 1,041,995 1,018,689 999,288 979,985 964,207 946, 128 926, 782 170,384 $165,000 115,000 50,292 $1,955,611 1,756,366 1,682,406 1,514,385 1,350,713 1,260,710 1,150,293 882,281 871,205 1,025,895 1,669,071 1,793,794 1,912,792 2,026,020 2,136,741 2,263,405 2,394,318 2,528,492 2,654,713 2,600,859 2,869,031 2,577,970 $4.50 1911 4.06 1910 3.90 1909 3.63 1908 3.16 1907 2.96 1906. 2.72 1905 2.09 1904 2.08 1903 2.46 1902. . . 4.02 1901 . 4.34 1900 4.65 1899 4.96 1898 5.28 1897 5.64 1896 6.02 1896 6.41 1894 . . 6.79 1893 6.71 1892 7.45 1891 6.78 18901 1880 3,629,613 3,551,406 3,501,100 50,306 78,207 116,271 116,271 3,629,613 10.46 ■Not In arriving at the per capita debt, estimates of population based on the average percentage of in- crease have been used. An inspection of the table shows a marked decrease in the bonded indebtedness from 1880 to 1905, after which there is a general increase to $1,376,100 in 1912. The floating debt, showing a tendency to in- crease, reaches the maximum of $139,689 in 1907. reported. In the funds and investments both cash and securi- ties show a general increase during the period covered. No sinking fund assets, as such, are recorded until 1910, the fund amountmg to $165,000 in 1912. The debt less sinking fund assets is therefore practically unchanged. The per capita debt shows fluctuation from $10.46 in 1880 to $4.50 in 1912, being attributable to similar changes in the funded debt. NEW JERSEY. Funded delt.—On October 31, 1912, $116,000 of nonnegotiable certificates of indebtedness issued to the agricultural college, and tabulated as a special debt obhgation to pubKc trust funds, constituted the only funded debt of the state. Floating debt. — Private trust funds to the amount of $526, 069, deposited by various railroad and trac- tion corporations, constituted the floating debt of the state in 1912. School fund. — In 1912 the school fund amounted to $5,592,203, and is invested in municipal bonds, rail- road and bank stock, and ia real estate and real estate mortgages. The fund is augmented by the proceeds from the sale or lease of all lands of the state now or formerly lying under water; a special body, the riparian commission, has charge of these transac- tions. Agricultural college fund. — This perpetual fund originated from the sale of land scrip, donated by Congress, to the amount of $116,000, and is secured by nonnegotiable certificates of indebtedness, bearing 5 per cent interest. Private trust funds. — In 1912 special deposits to the amount of $526,069, by railroad, street railway, and traction corporations, were tabulated as private trust funds. 54 WEALTH, DEBT, AND TAXATION. General and special funds. — ^Under this heading are tabulated the administrative funds, which on Octo- ber 31, 1912, consisted of $7,534,196 cash and $188,700 railroad and canal stock. Table 35 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. Table 35 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAR ENDING OCT. 31 — Total. Fimded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trast funds. Per capita. 1912 ; $642,069 664, 149 650, 126 721,912 709,415 749,032 765,457 775,469 661,030 772,748 782,753 119,000 119,000 119,000 242,000 442,000 625,000 692,000 735,400 837,400 933,700 996,300 1,496,300 2,096,300 $116,000 116,000 116,000 116,000 116,000 116,000 116,000 116, 000 116,000 116,000 116,000 119,000 119,000 119,000 242,000 442,000 626,000 692,000 735,400 837,400 933,700 996,300 1,096,300 2,096,300 $116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 48,000 48,000 48,000 48,000 48,000 31,600 31,600 $526,069 538,149 534,126 605,912 593,415 633,032 649,457 659, 469 545,030 656, 748 666,753 $13,957,168 10,254,541 12,311,106 10,782,741 8,806,690 7,086,216 7, 644, 279 8,284,772 8,155,889 8,240,335 7,863,704 6, 742, 553 6,286,830 5,602,312 5,273,668 5,280,653 5,304,971 6,275,466 5,459,836 5,280,841 5,158,947 5,048,266 5,156,057 4,993,790 $8,084,185 4,622,627 7,157,678 5,543,637 3,728,095 2,194,282 2,912,530 3,759,830 3,641,308 3,653,663 3,548,565 2,468,030 2,087,062 1,318,330 1,088,242 1,011,125 1,016,188 1,062,621 1,207,046 984,447 942,749 912,329 1,113,664 641,412 $5,872,983 5,632,014 5,163,428 5,239,104 5,078,595 4,891,934 4,731,749 4,524,942 4,614,681 4,586,672 4,315,149 4,274,623 4,199,768 4,183,982 4, 185, 416 4,269,528 4,288,783 4,212,845 4,252,790 4,296,394 4,216,198 4,135,937 4,042,393 4,452,378 $642,069 654,149 650,126 721,912 709,415 749,032 765,457 775,469 661,030 772,748 610,203 88,640 228,637 279,043 294,054 384,360 465,279 469,601 946, 793 649,248 $0.24 1911 0.25 1910 0.25 1908 0.29 0.29 1907 0.32 1906 0.33 1905 0.35 1904 0.31 1903 0.37 1902 $172,550 198,182 207,196 260,613 296,198 363,360 396, 363 412, 967 441,346 453,040 468,421 636, 699 549,607 1,447,052 0.30 1901 871,000 71,000 71,000 194,000 394,000 593,400 660,400 735,400 837,400 933,700 996,300 1,096,300 2,096,300 1900 1899 1898 1897 0.05 1896 0.13 1895 0.17 1894 0.18 1893 0.24 1892 0.30 1891 0.31 1890 400,000 0.66 1880 0.57 1 sinking lund exceeds debt An inspection of the table shows a decreasing bonded indebtedness until 1902, when it disappeared altogether. No special debt obHgations to pubhc trust funds are recorded until 1 895 ; the fund increas- ing from $31,600 in this year to $116,000 in 1902, and remaining unchanged from 1902 to 1912. No floating debt is recorded between 1891 and 1902, the amount varying shghtly from this latter year to 1912. In the funds and investments both cash and securi- ties increased steadily throughout the period. The sinking fund assets decreased until 1903, when the fund disappeared. Between 1897 and 1902 the total funded debt was less than the sinking fund assets. The per capita debt shows a general decrease from $0.66 in 1890 to $0.24 in 1912, due to the in- crease in population and the decrease in the bonded indebtedness. NEW MEXICO. Funded debt. — On November 30, 1912, the funded debt of New Mexico consisted of a number of series of bonds, aggregating $1,148,000. One of the largest issues represents the territorial institutions bonds of 1907, and four issues of refunding bonds make up more than one-third of the total debt. The remainder of the debt was incurred for general purposes, and the issues are all small, with the exception of one issue of certificates of indebtedness, amounting to $200,000. According to an article of the constitution of New Mexico, the state was to assume the debts and habili- ties of the territory of New Mexico and the debts of the counties thereof which were valid and subsisting on June 20, 1910, and was to pledge its faith and credit for the payment thereof. The territorial obU- gations have been refunded, but state bonds, though authorized, have never been issued to take over the county habihties, which aggregated $3,133,855 on November 30, 1912. Floating debt. — Warrants outstanding to the amount of $88,632 constitute the floating debt of New Mexico. Sinking funds. — There are two sinking funds in New Mexico — the insane asylum bonds and the capitol rebuilding bonds. Their only assets, $11,362 and $7,061, respectively, are derived from the sale of lands and from taxation. General and special funds. — The cash belonging to all administrative and educational funds is given under this heading. Table 36 gives a biennial summary of the debt and debt less sinking fund assets, and an annual sum- mary of the funds and investments from 1890 to 1912. NATIONAL AND STATE INDEBTEDNESS. 56 In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and invest- ments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of in- crease have been used. Table 36 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING rOND ASSETS. FISCAL YEAK ENI>ING NOV. 30 — Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special. debt to public trust lunds. Per capita. 1912 $1,236,632 991, 754 1,023,000 $1,148,000 966,500 $1,148,000 966,500 $88,632 25,254 $655,376 568,199 609,599 481, 521 427,239 $655,376 668, 199 609,599 481,521 427,239 $18,423 13,735 10,189 64,946 61,974 $1,218,209 978,019 961,026 $3.41 1911 2.85 1910 1909 1908 1,023,000 1,023,000 3.17 19071 1906 843,000 843,000 843,000 360,001 360,001 105,410 737,590 2.67 19051 1904 949,300 949,300 949,300 249, 148 249,148 112,872 836,428 3.35 19031 . 1902 1,122,200 1,122,200 1,122,200 248,450 218,954 109,974 139,387 163,781 77,849 109, 157 158,846 162,537 248,450 214,783 101, 98J 139,308 163,781 77,849 109,157 158, 846 162,537 123,277 127,572 8,344 79 998,923 4.48 19011 $4,171 7,989 79 1900 1, 205, 100 1,205,100 1,205,100 1,196,756 6.09 18991 . .... 1898 1,068,431 1,066,800 1,066,800 1,631 1,068,431 5.67 18971 1896 964,351 959,800 959,800 4,551 964,351 5.31 18951 1894 929,851 927,700 927,700 2,151 4,120 925,731 5.30 18931 1892 832,587 866,433 870,000 739,000 720,000 720,000 739,000 720,000 720,000 93,587 146,433 150,000 196,571 277,940 C) 196,571 277,940 C) 5,466 17,679 827, 121 848,854 870,000 4.94 1891 5.17 1890 (1) 5.42 18801 . 1 1 Not reported. An inspection of the table shows a general increase in the bonded indebtedness from $720,000 in 1890 to $1,148,000 in 1912. A small floating debt is recorded for eight years of the period. The state by an act of the legislature assumed the debts and habUities of the territory of New Mexico and the debts of the counties thereof, which were vahd and subsisting on June 20, 1910, and pledges its faith and credit for the payment thereof. The legislature provided for the payment or refunding thereof by the issue and sale of bonds or otherwise. These bonds, amounting to 13,133,855, have been authorized but not issued. In the funds and investments, securities were recorded for only three years, 1899, 1900, and 1901. The cash shows a general increase throughout the period. The sinking fund assets show marked changes, though at no time being sufficient to make any appre- ciable reduction in the total funded debt. The per capita debt decreased from $5.42 in 1890 to $3.41 in 1912, due to the increase in population. NEW YORK. Funded debt. — On September 30, 1912, the funded debt of New York consisted of negotiable bonds aggre- gating $109,702,660 and a nonnegotiable state obliga- tion in the form of a special debt obhgation to the col- lege land scrip fund, amounting to $688,576. Of the negotiable bonds, $660 are old bonds past due and the interest upon them has ceased. The majority of the remaining bonds were issued for canals and for the improvement of state highways. Floating deU. — At the close of the fiscal year 191*2 the floating debt consisted of private trust funds to the amount of $1,066,096. Sinking fwnd.—lu 1912 the sinkuig fund amounted to $25,252,085, about 23.02 per cent of the state debt. This sum includes $21,188,716 securities and $4,063,369 cash. Common school fund. — The pruicipal of the school fund, amounting in 1912 to $4,848,141, was derived from several sources, as f oUows : In 1789 the legislature directed the survey of 20 townships, and the reserva- tion near the center of each town of a lot for the sup- port of schools; from 1795 to 1800, $100,000 was appropriated annually; in 1801 the proceeds of four lotteries contributed $87,500 to the fund, and by an early constitutional provision all lands not otherwise appropriated were pledged to the support of the com- mon schools. From 1892 to 1912 the principal was increased annually by $25,000 from the United States deposit fund. These various amounts are invested, exclusive of the cash balance, in county, municipal, and school district bonds, Manhattan Company stock, and real estate mortgages. 56 WEALTH, DEBT, AND TAXATION. Literature fund. — This fund was established from the proceeds derived from the sale of lands set apart by the state legislature in 1786 for the promotion of litera- ture. The lotteries of 1801 contributed $12,500 to the fimd, and a transfer from the general fund in 1827 added $150,000 more. In 1912 the fund amounted to $284,201 and is invested in municipal bonds and insurance company stock. It is managed by tho state comptroller and the income apportioned among the several academies of the state. College land scrip fund. — This fund was established for the promotion of agricultural and mechanical education, and was derived from the sale of land scrip granted by Congress. The principal of the fund was originally invested in stocks and bonds, but in 1895 these securities were sold and the proceeds transferred to the general fund with the provision that the state should pay Cornell University 5 per cent interest on the amount. This amount of $688,576 is tabulated as a "Special debt to pubUc trust funds" for 1912. United States deposit fund. — ^The principal of this fund was New York's portion of the United States surplus revenue apportioned to the several states by Congress in 1836. From the income of this fund $25,000 is annually transferred to the principal of the common school fund, and the remainder expended for common schools and academies. Military record fund. — ^An act of the legislature in 1865 authorized the construction of a haU of military records, provided $75,000 should be contributed by the people of the state. The principal of the military record fund consists of surplus contributions remain- ing in the hands of the state treasurer after the hall of records had been constructed. In 1912 this fund amounted to $39,121, and is invested in municipal bonds with a small cash balance remaining. The income defrays the expenses of the bureau of military statistics. William Vorce jund. — This fund consists of a bequest for the benefit of education in certain towns of the state. The state comptroller has charge of the fund, amounting in 1912 to $134,247, which is in- vested in municipal bonds, the income being paid to the state commissioner of education for distribution among the towns stipulated in the bequest. Canaseraga CreeJc improvement fund. — The Canaser- aga Creek improvement fund had a cash balance of $145,267 in 1912. The fund is managed by the state comptroller apart from the treasury funds. Retirement fund for state hospital employees. — A per- manent fund for the payment of annuities to the employees of the New York State Hospital for the Insane was created by an act of the legislature in 1912. At the close of the fiscal year the fund had a cash balance of $25,910, and is managed by the state com,ptroller apart from the treasury funds. General and special funds. — Under this heading are grouped the cash balances in the general and special administrative funds of the state. Table 37 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. Table 37 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKINO FUND ASSETS. FISCAL YEAR ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. SEPT. 30— Total. Bonds. Special debt to public trust funds. Per capita. 1912 $111,457,332 81,495,019 58,532,167 42,063,483 27,053,483 18,113,483 11,453,483 11,978,483 10,233,483 10,476,236 10,730,236 10,886,931 10,941,931 10,996,931 10,161,931 6,576,931 811,931 811,931 123,355 123,355 885,866 2,927,655 4,964,305 9,122,655 $110,391,235 80,419,236 67,919,236 41,919,236 26,919,236 17,119,236 11,319,236 11,844,236 10,099,236 10,354,236 10,609,236 10,886,931 10,941,931 10,996,931 10,151,931 6,576,931 811, 931 811,931 123,355 123,365 885,885 2,927,655 4,964,305 9,122,056 $109,702,660 79,730,660 57,230,660 41,230,660 26,230,660 16,430,660 10,630,660 11,156,660 9,410,660 9,666,660 9,920,660 10,076,660 10,130,660 10,186,660 9,340,660 6,765,660 660 660 660 660 763,160 2,804,960 4,841,610 8,999,360 $688,576 688,676 688,676 688,676 688,676 688,576 688,576 688,576 688,576 688,676 1688,676 811,271 811,271 811,271 811,271 811,271 811,271 811,271 122,695 122,696 122,696 122, 696 122, 695 122,696 $1,066,096 1,075,783 612,931 134,247 134,247 994,247 134,247 134,247 134,247 121,000 121,000 $66,414,968 51,843,383 62,701,689 47,824,385 45,758,659 39,126,933 28,642,067 22,474,863 22,343,651 22,644,152 21,818,463 21,709,331 17,331,383 14,128,203 13,321,213 16,209,966 14,138,692 9,866,708 11,213,825 10,320,180 12,033,263 16,969,242 17,109,060 11,066,623 $36,088,569 20,416,665 22,628,161 19,977,532 31,798,020 20,780,516 15,807,830 10,578,262 9,858,543 10,193,629 10,237,354 10,338,192 6,695,352 3,921,674 3,424,794 7,076,261 4,746,358 1,766,679 3,083,981 2,710,979 3,031,187 7,023,708 5,882,371 4,618,360 $30,326,399 31,426,828 30,073,538 27,846,853 13,960,639 18,346,417 12,834,237 11,896,591 12,485,008 12,450,523 11,581,109 11,371,139 10,636,031 10,206,629 9,896,419 9,134,706 9,392,334 8,100,029 8,129,844 7,609,201 9,002,076 9,945,534 11,226,689 6,538,263 $26,262,086 26,867,372 24,158,491 22,056,270 16,600,494 9,573,056 4,403,650 4,607,468 3,696,494 3,074,666 2,645,116 1,866,527 1,376,758 904,612 697,979 116,211 41,896 20,878 61,697 60,272 493,407 1,913,031 3,163,722 1,462,833 $86,205,247 54,627,647 34,373,676 19,997,213 11,552,989 8,640,427 7,049,933 7,371,025 6,536,989 7,400,670 8,185,120 9,020,404 9,565,173 10,092,419 9,453,962 6,460,720 770,035 791,063 61,768 63,083 392,448 1,014,624 1,800,683 7,669,222 $9.05 1911 6.85 1910 3.76 1909 2.23 1908 1.32 1907 0.99 1906 0.84 1905 0.90 1904 0.81 1903 0.94 1902 1.07 1901 1.21 1900 1.31 1899 1.41 1898 . -- 1.35 1897 0.94 1896 0.11 1895 0.12 1894 0.01 0.01 1892 0.06 1891 0.17 1890 . 0.30 1.61 1 This does not include a "special debt obligation to Indian tribes," of $122,696, reported as a debt prior to 1902. NATIONAL AND STATE INDEBTEDNESS. 57 In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average per- centage of increase have been used. An inspection of the table shows that the bonds amounting to $4,841,610 in 1890 were reduced to $660 in 1893. In 1897 there was a new issue of $5,765,000, and in 1912 the bonded indebtedness amounted to $109,702,660. The special debt obhga- tions to pubUc trust funds were increased to $811,271 in 1895, decreasing to $688,576 in 1902 and remaining unchanged throughout the period. A floating debt is reported from 1902 to 1912 which showed a general tendency to increase. In the funds and investments both cash and securi- ties show a marked increase. The sinking fund assets fluctuated greatly until 1897, after which there was a steady increase until 1912 when the fund amounted to $25,252,085. The debt less sinking fund assets is markedly less than the total funded debt during the last decennial period, following the increase of the sinking fund assets. Although the increase of population during the period covered was more than three and one-half million, it was not sufficient to offset the great increase in the bond issue, and the per capita debt increased from $0.30 in 1890 to $9.05 in 1912. NORTH CAROLINA. Funded debt. — On November 30, 1912, the funded debt of North Carolina was made up of bonds, amount- ing in all to $7,532,950. Two small issues are over- due but have never been presented for payment, and the interest upon these bonds has ceased. Two series, amounting to $2,720,000 and $3,430,000, were issued to refund bonds of an earher date, and the remaining issues are small and were for general purposes. Floating debt. — The floating debt reported outstand- ing warrants amoimting to $225,480 and a temporary loan of $300,000. School fund. — This fund is held in trust for the bene- fit of pubfic education. In 1912 its only asset con- sisted of loans to cotmties for the purpose of building schoolhouses; the principal of the fund amounting to $421,459. General and special funds. — Under this heading are included the cash balances of all administrative funds. The state holds as an investment stock to the amount of $4,266,800 in the North Carolina Railroad and in the Atlantic & North Carolina RaUroad. Table 38 gives a summary of the debt, funds and investments, and 'sinking fund assets, from 1890 to 1912, and also the same data for 1880. During the first and last half of the two decades only semiannual reports were obtainable. Table 38 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL YEAR ENDING NOV. 30— Total. runded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trast funds. Per capita. 191'' $8,058,430 $7,532,950 $7,532,960 $526,480 $4,979,115 $290,856 $4,688,259 $8,068,430 $3.54 1911 1 1910 7,383,283 7,239,550 7,239,550 143,733 4,624,958 10,639 4,614,419 7,383,283 3.34 1909 ^ 6,934,809 6,886,000 6,886,000 48,809 5,145,377 563,412 4,581,965 6,934,809 3.23 19071 6,884,798 6,954,875 0,941,225 6,942,185 6,554,928 6,554,773 6,560,341 6,565,774 6,400,041 6,366,381 6,361,630 6,873,460 6,871,450 6,831,570 6,831,470 6, .527, 770 6,527,770 6,527,770 6,531,770 6,360,770 6,360,770 6,360,770 6,873,460 6, 871, 460 6,831,570 6,831,470 6,627,770 6,527,770 6,627,770 6,631,770 6,360,770 6,360,770 6,360,770 11,348 83,425 109,655 110,716 27, 158 27,003 32,571 34,004 39,271 5,611 860 4,889,940 (') 4,840,347 « 4,526,080 4,468,837 4,639,610 4,696,607 4,769,300 4,653,856 4,678,711 4,684,112 4,870,878 4,798,740 4,894,610 4,717,290 4,689,473 118,793 406,966 (') 366,762 (') 111,280 53,787 124,560 144,207 216,000 99,556 123,411 125,662 311,328 240, 190 338,960 161, 740 162, 923 118,793 4,483,984 (') 4,483,595 W 4,414,800 4,415,060 4,415,050 4,652,300 4,553,300 4,554,300 4,556,300 4,558,660 4,569,660 4,658,550 4,566,550 4,566,650 4,526,550 6,884,798 6,964,876 6,941,226 6,942,186 6,564,928 6,654,773 6,560,341 6,665,774 6,400,041 6,366,381 6,361,630 3.30 1905 3.38 3.43 1903 3.49 3.34 1901 3.40 1900 3.46 3.51 1898 3.48 1897 3.51 3.56 6,381,126 6,371,770 6,371,770 9,366 6,381,126 3.69 8,394,577 6,371,770 6, 371, 770 22,807 6,394,677 3.82 7, 709, 293 15,422,045 7,703,100 15, 422, 046 7,703,100 15,422,045 6,193 7,709,293 16,422,045 4.76 11.02 1 Not reported. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and invest- ments, and for each year indicated the total and per capita debt less sinking fimd assets are included in the table. In arriving at the per capita debt, esti- mates of population based on the average percentage of increase have been used. 58 WEALTH, DEBT, AND TAXATION. An inspection of the table shows that the bonded indebtedness remained practically unchanged after 1880; the floating debt shows a general increase from $6,193 in 1890 to $525,480 in 1912. In the funds and investments the securities remain approximately the same, while the cash shows natural fluctuations. There being no sinking fund reported, the debt less sinking fund assets remains the same as the total debt. The per capita debt varied little after 1880, being $4.76 in 1890 and $3.54 in 1912. NORTH DAKOTA. Funded deit. — On October 31, 1912, the funded debt of North Dakota consisted of several series of negoti- able bonds, aggregating $937,300. One issue of $106,000 represented territorial funding bonds, as- sumed as North Dakota's portion of the territorial debt of Dakota under the provisions of the joint com- mission's report, which was adopted by the people of North and South Dakota. A majority of the issues were for refunding purposes, the original bonds having been issued to cover the university deficiency, to pay off capitol buildiag warrants, and for the construction of the university and other public buildings. The re- maining bonds were issued for the capitol building, for the benefit of the imiversity, and other institutions supported by the state. Floating debt. — No floating debt is reported. Table 39 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAR ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 1937,300 937,300 1,151,300 1,151,300 692,300 692,300 692,300 692,300 692,300 $937,300 937,300 1,151,300 1,151,300 692,300 692,300 692,300 692,300 692,300 $937,300 937,300 1,151,300 1,151,300 692,300 692,300 692,300 692,300 692,300 $8,799,435 7,840,335 7,679,282 6,658,831 4,941,319 4,243,882 3,790,780 2,890,699 2,578,284 $840,663 801,288 941,559 1,494,863 682,906 799,310 985,579 372, 194 371,674 $7,958,772 7,039,047 6,737,723 5,163,968 4,358,413 3,444,572 2,805,201 2,518,505 2,206,610 $116,876 88,869 105, 859 85,253 58,046 47,044 51, 793 30,789 62,933 $820, 424 848,431 1,045,441 1,066,047 634,254 645,256 640,607 661,511 629,367 $1.29 1911 1.39 1910- . . 1.79 1909 1.92 1908 1.20 1907 1.28 1906 1.34 1905 1.46 1904 1.48 1903 ' 1902 969,446 937,300 937,300 $32,146 1,742,006 562,583 1,179,423 1,116 968,330 2.59 1901 1 1900.. 1,013,313 973,893 973,893 39,420 1,109,449 190,419 919,030 1,013,313 3.15 1899' 1898 845,792 845,300 845,300 492 933, 895 245,821 688,074 845,792 2.87 18971 1896 851,025 782,300 782,300 68,725 656, 752 526,505 633,235 472,179 637,803 289,620 104,792 219,934 76,437 137,551 114,145 398,053 199,570 104, 792 436, 818 460,068 395,684 368,034 239,750 90,050 861,025 3.16 1895' 1894 850,177 782,300 782,300 67,877 850, 177 3 49 1893 ' 1892 799,973 732,300 732,300 67,673 799,973 3.67 1891' 1890 715, 493 606, 300 606,300 109, 193 715,493 3.73 1880' ' Not reported. Sinking funds. — Two funds, known as the asylum bond and the state bond sinking funds, were estab- Kshed for the redemption of state debt and amounted in 1912 to $537 and $116,339, respectively. School fund. — The sixteenth and thirty-sixth sec- tions of land in each township, or other lands in Ueu thereof, were granted by Congress to form a permanent school fund. The act stipulated that all such lands granted for educational purposes should not be sold for less than $10 per acre; also that 5 per cent of the net proceeds from the sale of all Government lands sold subsequent to the admission of the state should be paid to said state and credited to the permanent school fund. On October 31, 1912, this fund held a cash balance of $110,210, and bonds and real estate mortgages aggregating $7,958,772, an amount which includes also bonds belonging to each of the state funds reporting investments. State university fund. — Under the enabling act ad- mitting the state, 86,080 acres of land were to be se- lected by the state for the state university. The bonds held by this fund are reported with those of the school fund. School of mines fund. — This fund was derived from the sales of land granted to the state under the enabling act for a school of mines. Its investments are included with those of the school fund. Agricultural collegefund. — As provided in the acts of Congress making grants for agricultural colleges, 130,- 000 acres of land were to be selected and sold by North NATIONAL AND STATE INDEBTEDNESS. 59 Dakota for the exclusive purpose of forming a per- manent endowment fund for an agricultural college. The principal of this fund is invested in bonds, which are reported with those held by the school fund. Nomuil school funds. — The principals of the funds for the two state normal schools have been derived from the sale of land set aside for that purpose by grants of the United States Government. The bonds constitut- ing them are included with those reported by the school fund. Other public trust funds. — The following funds were created from the sale of lands that have been donated by the United States for the purposes indicated by the names of the funds: School for deaf and dumb, hospital for insane, soldiers' home, blind asylum, in- dustrial school, academy of science, and reform school funds. The investments of all these funds are in- cluded with those of the school fund. General and special funds. — The state has a number of administrative funds with cash assets, all of which are reported under this heading. Table 39 gives a summary of the debt, funds and in- vestments, and sinking fund assets, from 1890 to 1912. From 1890 to 1904 only biennial reports were obtain- able. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average per- centage of increase have been used. An inspection of the table shows a slight general in- crease in the bonded indebtedness; while the floating debt, at no time large, disappeared altogether in 1904. In the funds and investments the securities show a marked increase during the period covered. The cash varied from year to year, showing a general increase from 1890 to 1912. No sinking fund assets, as such, are recorded until 1902; and though the fund increased steadily it shows only $116,876 in 1912; for this reason the debt less sinking fund assets does not differ materially from the total funded debt. The per capita debt decreased from $3.73 in 1890 to $1.29 in 1912, due largely to the increase in population. OHIO. Funded debt. — On November 15, 1912, the funded debt of Ohio amoimted to $5,256,636, and was com- posed principally of nonnegotiable obligations to public trust funds. The only bonded debt of the state is the sum of $1,665, the remainder of an old issue of harbor improvemqiit bonds on which the interest has ceased. The nonnegotiable obligations are to the various educational institutions of the state and have been in force for many years, the state having absorbed the principal, on which it pays 6 per cent interest. Floating debt. — At the close of the fiscal year 1912 outstanding warrants to the amount of $17,981 and private trust funds to the amount of $25,813 compose the floating debt of the state. Sinking fund. — This fund, amounting in 1912 to $158,388, is derived from the following sources: The net proceeds of both income- and sale of public works and stock owned by the state; the proceeds of the sale of canal, ministerial, and school lands, not otherwise appropriated; the principal and the income of all surplus revenue; and also such further sum, raised by taxation, as is required by the constitution to reduce the debt. Common school fund. — The principal of the common school fund was originally derived from the sale of lands granted by Congress for the support of public schools. Other sums have been contributed, and the total amoimt of $3,524,528 constitutes an irreducible state debt, which draws 6 per cent interest. Other public trust funds. — The swamp land indemnity fund, the Virginia military school fund, the United States military school fund, the Western Reserve school fund, the Ohio University fund, and the Ohio State University fund were derived from grants of land for the benefit of the common schools. The prin- cipal has been absorbed by the state and constitutes a nonnegotiable debt obligation drawing 6 per cent interest. Ohio ministerial relief fund. — This fund was estab- lished by the disposal of lands donated by Congress for religious purposes. The principal of the fund having been absorbed for state purposes, it constitutes an irreducible debt on which the state pays 6 per cent interest. The proceeds of the fund are used for rehgious purposes in the towns located in the region of the original grants. Private trust funds. — Cash to the amount of $813 held in trust, by order of the court, for the benefit of unpaid creditors of insolvent companies, and $25,000 of road improvement bonds, held as security for a claim of the state against the Cincinnati Trust Co., constitute the private trust fimds of the state. General and special funds. — The cash balances of all other funds not mentioned above are tabulated under this title. Table 40 gives a summary of the debt, fimds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of popiilation based on the average percentage of increase have been used. 60 WEALTH, DEBT, AND TAXATION. An inspection of the table shows a marked decrease in the bonded indebtedness, amounting to $6,475,140 from 1880 to 1912. The special debt to public trust funds increased steadily during the period covered. The floating debt fluctuated with each year, though the general tendency was to decrease. Table 40 FISCAL YEAR ENDING NOV. 15— 1912, 19U 1910, 1909, 1908, 1907 1906 1905, 1904, 1903 1902 1901, 1900, 1899, 1898, 1897, 1896. 1895. 1894. 1893. 1892. 1891. 1890. 1880. 85, 300, 430 5,250,317 5,233,806 5,230,667 5,165,212 5,148,926 6,010,614 4,924,354 4,799,536 4,767,918 4,939,585 5,177,324 6,421,451 5,703,693 5,935,690 6,978,480 6,214,573 6,446,785 6,709,696 6,446,053 6,698,763 6,947,358 7, 195, 825 10,764,526 Total. 55,266,636 6,229,828 6,208,662 5,195,620 5,152,923 5,120,971 4,993,084 4,903,774 4,770,357 4,749,976 4,931,692 5,167,884 5,399,276 5,686,201 5,920,381 5,962,256 6, 203, 136 6,440,274 6,687,359 6,431,626 6,674,678 6,908,244 7, 151, 528 10,764,526 I-'unded. Bonds. 2,041,665 2,291,665 2,541,665 6,476,806 Special debt to public trust funds. 51,665 1,665 1,605 1,665 1,665 $5,254,971 5,228,163 6,206,997 5,193,855 6,151,258 1,665 1,665 1,666 1,665 1,666 5,119,306 4,991,419 4,902,109 4,768,692 4,748,311 201,665 451,665 701,665 1,001,665 1,241,666 4,729,927 4,716,219 4,697,611 4,684,536 4,678,716 1,291,665 1,641,665 1,791,665 2,041,665 1,791,665 4,670,590 4,601,471 4,648,609 4,645,694 4,639,961 4,633,013 4,616,579 4,609,863 4,287,721 Floating. 543, 794 20,489 25,144 35, 147 12,289 27,955 17,430 20,580 29, 179 17,942 7,993 9,440 22, 176 17,492 16,309 16,225 11, 437 6,6U 22,337 14,427 24,085 39, 114 44, 297 FUNDS AND INVESTMENTS. Total. $10,062,111 8,997,093 8,870,978 9,365,559 10,364,393 10,201,166 8,737,462 7,889,986 7,324,890 7,712,868 8,302,172 6,399,943 6,2x8,522 6,881,513 6,507,690 5,435,089 5,186,696 6,282,458 5,447,960 5,268,300 6,389,425 5,987,171 6, 012, 449 5,220,609 Cash. $4,782,140 3,768,930 3,663,981 4,171,704 6,203,135 5,081,850 3,746,033 2, 987, 877 2,656,198 2,964,667 3,572,245 1, 683, 724 1,620,911 1,196,977 828,974 764,499 526, 125 633,849 802,266 618,339 756,412 1,370,592 402,586 932, 888 Securities. $6,279,971 5,228,163 6,206,997 6,193,856 5,151,268 5,119,306 4,991,419 4, 902, 109 4, 768, 692 4,748,311 4,729,927 4,716,219 4,697,611 4,684,636 4,678,716 4,670,590 4,661,471 4,648,609 4,646,694 4,639,961 4,633,013 4,616,579 4,609,863 4,287,721 Sinldng fund assets. $168,388 261,846 298,666 370,605 404,168 472,056 425,654 357,973 249,584 146,693 254,569 204, 317 207,328 77,647 116,603 149,761 200,806 266, 177 331,321 397,790 483,786 1,065,706 198,258 741,805 DEBT LESS SINKING FUND ASSETS. $5,142,042 4,998,471 4,935,140 4,860,062 4,761,044 4,676,870 4,684,960 4,666,381 4,549,952 4,621,226 4,686,016 4,973,007 6,214,123 5,626,146 6,820,087 6,828,729 6,013,767 6,181,608 6,378,375 6,048,263 6,214,977 6,881,662 6,997,567 10,022,721 Per capita. $1.06 1.03 1.03 1.03 1.02 1.02 1.01 1.02 1.03 1.06 1.09 1.18 1.25 1.37 1.43 1.45 1.52 1.68 1.65 1.58 1.65 1.68 1.91 3.13 In the funds and investments both cash and securi- ties show a general increase, the two items amounting to $10,062,111 in 1912. The sinking fund assets show the most marked change in 1891, when the fund increased from $198,258 to $1,065,706, but later decreased from year to year until 1912, when it amounted to $158,388. The debt less sinking fund assets is slightly less than the total funded debt, and shows a general decrease during the period. The per capita debt decreased from $3.13 in 1880 to $1.05 in 1912, due to the decrease in the bonded indebtedness and the increase in population. OKLAHOMA. Funded debt. — On November 30, 1912,' the funded debt of Oklahoma was made up of three series of bonds, aggregating $3,055,000. The largest series consists of funding bonds to the amount of $1,460,000, and the other two series were for pubhc buildings. In 1912 the state and school lands fund had $290,000 in- vested in these bonds. Floating debt. — Outstanding warrants, amounting to $3,875,243, constitute the only floating debt. State and school lands fund. — This fund is composed of the proceeds of the sale of lands granted by the United States for the use of the common schools; proceeds of the sales of public lands; the sum of $5,000,000 appropriated to the state for the use of schools, in Ueu of Indian lands; all property escheat- ing to the state; and all appropriations, gifts, or donations made for the benefit of the common schools. The principal, which is to remain forever inviolate and may not be decreased, amounts to $5,337,819. Of this amount, $3,684,680 is invested in real estate mortgages, and the remainder is in state and county bonds. A cash balance of $268,639 is deposited in the bank. The income from this fund is used for the maintenance of the schools in the state. General and special funds. — As a territory, Oklahoma had many funds holding investments, but when it became a state all of these with the exception of the school fund were united under the heading "General and special funds." In 1912 these funds held cash balances aggregating $1,118,538. Table 41 gives a summary of the debt, funds and investments, and sinking fund assets, from 1893 to 1912. No reports were received for 1909 and 1911. In each year the debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are in- cluded in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows a heavy increase in the bonded indebtedness, $48,000 being the outstand- ing amount from 1893 to 1903, increasing to $3,055 000 in 1912. The floating debt also shows a marked in- crease—from $27,321 in 1893 to $3,875,243 in 1912. NATIONAL AND STATE INDEBTEDNESS. 61 Table 41 DEBT. FUNDS AND INVESTMENT.S. Sinlcing fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAR ENDING NOV 30 — Total. F.imded. Floating. $3,875,243 Total. rash. Securities. $0,069,180 Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912.. 16,930,243 J3, 055, 000 $3,055,000 $6,456,357 $1,387,177 $6,930,243 $3.74 19111 1910.. . 3,993,361 1,958,000 1,958,000 2,035,361 5,731,943 1,449,961 4,281,992 3,993,361 2.38 19091 1908 . 1,460,000 875,990 751,038 673,805 655,937 509,766 466,950 466,220 ' 427,054 318,303 284,263 238,138 ' 211,241 208,095 131,671 27,321 1,460,000 1,460,000 875,990 751,038 673,805 655,937 461,766 418,950 418,220 379,054 270,303 236,263 190,138 163,241 160,095 83,671 27,321 6,312,967 932,585 1,955,788 1,610,232 1,559,435 1,447,121 1,210,564 829,192 526,899 364,596 414,573 365,932 264,213 210,067 141,590 45,739 2,720,217 932,585 749,383 613,679 640,983 578,925 546,108 262,319 3,400 2,642 24,834 3,460 21,888 21,328 130 223 3,592,750 1,460,000 875,990 751,038 673,805 655,937 509, 766 466,950 466,220 427,054 318,303 284,263 238,138 211,241 208,095 131,671 27,321 0.97 1907. . 0.62 1908. 1,206,405 996,553 1,018,462 868, 196 664,456 566,873 623,499 361,954 389,739 362,472 242,325 188,739 141,460 45, 516 0.57 1905. . . 0.54 1904. 0.57 1903 48,000 48,000 48, poo 48.000 48,000 48,000 48,000 48,000 48,000 48,000 4S,000 48,000 48,000 48,000 48,000 48,000 48,000 48,000 48,000 48,000 0.48 1902 0.48 1901 0.53 1900. . 0.54 1899 0.43 1898.. .. 0.41 1897 0.37 1896. . 0.36 1895 0.39 1894 0.28 1893. . 0.06 1892>. 1 1 18901 ..1 ... 11 ■""■; ■■'" 1 1 1 ,1 1 1 Not reported. In the funds and investments the securities increased from $45,516 in 1893 to $5,069,180 in 1912. The cash also shows marked increase during the period. No sinking fund assets, as such, are recorded in any year; hence the debt less sinking fund assets is the same as the total debt. The per capita debt increased from $0.06 in 1893 to $3.74 in 1912, due to the heavy increase in the funded debt. OREG-ON. Funded debt. — On September 30, 1912, the funded debt of Oregon, amounting to only $653, was made up of three small sums which represent soldiers relief, Modoc War, and Indian War bonds, long overdue but never presented for payment. Floating debt. — The only floating debt consists of warrants, to the amount of $30,199, drawn on the general and the miscellaneous funds and outstanding on September 30, 1912. Common school fund. — A permanent irreducible school fund is derived from the sale of the sixteenth and thirty-sixth sections of each township; moneys which may be paid as exemptions from military duty; the clear proceeds of all property which may accrue to the state by escheat or forfeiture; the proceeds of all gifts, devises, and bequests made by any person to the state for common school purposes; the proceeds of aU property granted to the state when the purpose of such grant is not stated; the proceeds of the 500,000 acres of land to which the state is entitled by the provisions of an act of Congress approved 1841; and 10 per cent of all moneys received from the sale of swamp, over- flowed, and tide lands which have been granted to the state by the United States. On September 30, 1912, this fund amounted to $6,252,549, of which amount, $5,550,764 has been loaned on notes secured by real estate mortgages. The remainder of the fund, with the exception of a small cash balance, is invested in school district bonds and certificates of sale o,f state land. The income from these investments is distributed among the several counties in proportion to the number of children in each coimty between the ages of 4 and 20 years. University fund. — By an act of Congress of 1859, 46,080 acres of land were set apart and reserved for the use and support, in such manner as the legisla- ture might prescribe, of the state university. The proceeds arising therefrom, together with an annual tax upon aU taxable property in the state, are in- vested in first mortgage loans on real property within the state. Agricultural college fund. — The endowment fund of this coUege was derived from the sale of 90,000 acres of land granted by Congress under an act of 1862 for the support of institutions of learning for the benefit of agriculture and the mechanic arts. This fund is in- vested in secured notes, and on September 30, 1912, had real estate mortgages and other assets amounting to $201,384. A. R. BurlanTc trust fund. — This fund is derived from the proceeds of the sale of property bequeathed by A. R. Burbank to the state, to be held ia trust by the orphans' homes at Salem and Portland, Oreg. First mortgage loans on real property within the state, to the amount of $24,350, and a small cash balance make up the principal of the fund. 62 WEALTH, DEBT, AND TAXATION. TJiurston monument fund. — This fund represents the amount that was due Samuel R. Thurston, the first delegate in Congress from the territory of Oregon, for pay while serving as a member of the legislature of the provisional government of Oregon territory, during the session of 1848-49. The principal of $120 is invested in a note secured by a first mortgage on real estate. General and special funds. — The state has numerous special funds with cash balances to their credit, and these balances are aU reported with the cash of the general fund under the common title "General and special funds." Table 42 gives a biennial summary of the debt, funds and investments, and sinking fund assets. Table 42 DEBT. FDNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKINO FUND ASSETS. FISCAL YEAK ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 130,862 $653 S663 $30, 199 $7,485,067 $993,736 $6,491,331 $30,852 $0.04 19111 1910 37,825 653 653 37, 172 6,732,478 424,912 6,307,564 37,825 0.05 19091 1908 13,019 697 897 12,322 8,106,266 668,320 5,447,946 13,019 0.02 19071 1908 183,808 706 708 183,102 5,243,017 415,340 4,827,677 183,808 0.32 19051 1904. . 238,183 1,044 1,044 237, 139 5,248,396 568,189 4,680,207 238,183 48 1903 1 1902 235,298 1,044 1,044 234,254 4,871,729 1,137,576 3,734,163 235,298 0.50 1901 1 1900. . . . 280,712 1,044 1,044 279,668 4,224,344 944,623 3,279,721 280,712 68 18991 1898 37,425 1,830 1,830 35,595 3,747,794 763,699 2,984,095 37,425 0.09 18971 1898 63,294 1,830 1,830 61, 464 3,118,887 368,034 2,748,853 63,294 0.17 18951 1894 2,500 1,830 1,830 670 2,943,485 240,367 2,703,128 2,500 0.01 1893 1 1892 2,500 1,830 1,830 670 2,491,315 341,137 2,160,178 2,500 0.01 1891 1 . . . 1890. . 1,684 611,376 1,014 356,608 1,014 356,508 670 154,868 2,151,937 386,079 233,194 138,403 1,918,743 247, 676 1,684 511,376 01 1880 2.93; 1 Not reported. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less-sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows an insignificant bonded indebtedness for every year after 1880. The fioating debt is also small, increasing from $670 in 1890 to its highest point, $279,668, in 1900. It fluctuates from that year to 1912 when it shows only $30,199. In the fluids and investments the securities show a steady increase throughout the period covered. The cash items changed from year to year, reaching the maximum amount, $1,137,576, in 1902. No sinking fund assets, as such, are recorded in any year; hence the debt less sinking fund assets does not differ from the total debt. The per capita debt with the exception of 1880 is very small, varying from $0.01 in 1890 to $0.68 in 1900 and $0.04 in 1912. PENNSYLVANIA. Funded debt. — On November 30, 1912, the funded debt of Pennsylvania consisted of two series of state bonds and two nonnegotiable obligations to the state ao'ricultural college. Of the two series of negotiable bonds, one, amounting to $8,050, issued in 1881 for refunding purposes, matured on February 1, 1912. The other, also overdue, is made up of small amounts of unfunded debt and debt upon which the interest has ceased. This series, amounting to $134,110, consists of rehef notes issued by banks; unclaimed and outstanding interest certificates issued to the holders of public loans for interest due thereon; unclaimed certificates issued "to sufferers in Cham- bersburg," under act of 1871; domestic creditors' certificates; and bonds issued for miscellaneous pur- poses, upon which the interest has ceased. A non- negotiable bond of $500,000, maturing in 1922, was issued to the agricultural college to reimburse said col- lege for money derived from the sale of land scrip and used by the commonwealth. An amount of $17,000, representing the proceeds of the sale of the eastern and western experimental farms, is held in the state treasury to constitute a perpetual fund, the income therefrom to be paid to the agricultural college. NATIONAL AND STATE INDEBTEDNESS. 63 Floating debt. — There is no floating debt reported for Pennsylvania. Sinking fund. — This fund is by law derived from the proceeds of the sale of pubUc works or any part thereof; from the income or proceeds of the sale of any stocks owned by the commonwealth ; and from other sources that may be designated by law. The fund is also from time to time increased by transferring to it a part of the taxes or other revenue of the state not required for current expenses of the government. The only asset of this fund on November 30, 1912, consisted of a cash balance of $785,511. Agricultural college fund. — This fund consists of nonnegotiable obUgations of the state, to the amount of $517,000, granted to the fund to reimburse it for land scrip donated to the state by Congress, and from moneys derived from the sale of the experimental farm. General and special funds^ — Under this heading are reported the cash balances of aU administrative funds, aggregating $8,996,340, and stock held by the state in certain canal and navigation companies, valued at $414,955. Table 43 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. Table 43 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LI3SS SINKING FtJND A3SET.S. FISCAL TEAR ENDING NOV. 30 — Total. Funded. Floating. Total. 1 Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912. . tfi59, 160 2,295,510 2,384,867 2,643,917 2,689,617 2, 727, 617 3,646,167 4,131,867 4,718,817 4,718,817 4,806,649 6,815,299 6,815,299 6,815,299 6,815,299 6,815,305 6,815,305 6,816,309 6,819,661 8,288,061 8,394,462 9,811,568 12,349,920 21,561,990 {659, 160 2,295,510 2,384,867 2,643,917 2,689,617 2,727,617 3,646,167 4,131,867 4, 718. 817 4,718,817 4,806,649 6,815,299 6,815,299 6,815,299 6,815,299 6,815,305 6,816,305 6,816,309 6,819,661 8,288,061 8,394,462 9,811,568 12,349,920 21,561,990 J142, 160 1,778,510 1,867,867 2.126,917 2,172,617 2, 210, 617 3, 129, 167 3,614,867 4,201,817 4,201,817 4,289,649 6,298,299 6,298,299 6,298,299 6,298,299 . 6,298,305 6,298,305 6,299,309 6,302,661 7,771,061 7,877,462 9,294,568 11,832,920 21,061,990 5517,000 517,000 517, 000 517.000 517,000 517,000 517,000 617,000 517,000 517,000 517, 000 ' 517,000 517,000 517,000 517,000 517,000 517,000 517,000 517,000 517,000 517,000 517,000 517,000 500,000 $10,713,806 13,855,326 10,840,994 9,551,970 10,572,660 14,037,665 13,171,998 13, 860, 482 17,254,323 17,428,014 14. 583, 261 li; 800, 022 10,841,989 8,901,496 9,213,017 9,9.89,450 9,904,354 8,454,654 10,275,701 12,920,772 11,667,645 13,166,639 10, 857, 741 9,148,114 $9,781,851 12,923,371 9,909,039 8,620,015 9,540,605 12,885,710 11,440.043 12, 528, 527 15,822,368 15,818,559 12,868,806 7,708,022 6,649,989 4,609,496 4,488,017 6,1.36,700 6,062,604 3,429,654 5,081,326 7,443,772 0,00", 645 6,979.855 4,426,645 1,815,047 $931,955 931,955 931,955 931,955 1,031.955 1,151,955 1,731,955 1,331,955 1,431,955 1,609,455 1,714,455 4,092,000 4,192,000 4,292,000 4,725,000 4,8.52,750 4,841,750 5,025,000 5,194,375 5,477,000 5,667,000 6,186,784 6,431,096 7,333,067 $785,611 2,396,683 2, 440, 857 2,652,035 2,642,531 2,619,299 3. 414, 521 4, 000, 576 4,631,217 4,427,322 4,417,440 6,294,956 6,002,662 5,729,256 6,766,400 5,615,639 5,137,097 4,948,635 4,743,759 5,849,731 6,752,453 6,928,917 8,143,310 7,678,772 (;) A) $47,086 108,318 231,646 131,291 187, 600 291,495 389,209 620,343 812,647 1,086,044 1,048,899 1,299,666 1,678,208 1,867,674 2,076,902 2,438,330 2,642,009 2,882,651 4,206,610 13,883,218 1911 1910 1909, .. 1908 $0.01 1907. . . 0.01 1906. P. 03 1905 0.02 1904 0.03 1903. . 0.04 1902.. 0.06 1901 . . 0.08 1900 0.13 1899... 0.17 1898. . 0.17 1897... 0.22 1896 0.28 1895 0.32 1894 0.37 1893 . 0.44 1892 0.48 1891 0.54 1890 0.80 1880 3.24 1 Sinking fund assets exceed debt. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for fimds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows a great reduction in the bonded indebtedness, amounting to $20,919,830 from 1880 to 1912. The special debt obligations to public trust funds remain practically unchanged. In the funds and investments the securities decreased $6,401,112 during the period. The cash shows the natural fluctuations from year to year, and an increase of $7,966,804 in 1912 over 1880. The sinking fund assets show a steady decrease — from $8,143,310 in 1890 to $785,511 in 1912. On account of the unusually large amounts recorded as sinking fund assets, the debt less sinking fund assets is materially less than the total debt, decreasing to 1909, when it disappears as a result of the excess of sinking fund assets over the total debt. The per capita debt is at no time significant, because of the heavy assets in the sinking fund; the decrease from $0.80 in 1890 to $0.01 in 1908 being due largely to the decrease of the bonded indebtedness. RHODE ISLAND. Funded debt. — On December 31, 1912, the funded debt of Khode Island consisted of five issues of state- house construction bonds, three issues of highway con- struction bonds, and one issue each of armory con- struction, penal and reformatory construction, harbor improvement, and metropoUtan park bonds, a grand total of $5,580,000. The metropolitan park bonds, while a direct obligation of the state, constitute, never- theless, a contingent debt incurred for the benefit of the several towns and cities included in the metropoli- tan park system. Payment must eventually bo met by assessment on the towns and cities benefited. 64 WEALTH, DEBT, AND TAXATION. Floating debt. — The floating debt of Rhode Island in 1912 consists of a private trust of $70,308, and state notes, amounting to $150,000. SinTcing fund. — This fund, amounting to $673,493 in 1912, is under the control of the sinking fund commis- sioners, who have invested the funds in municipal and sctool district bonds and notes. The fund also receives an additional appropriation each year, suffi- cient to pay the state debt as it matures. School fund. — A permanent school fund was pro- vided for in tte state constitution. The state treas- urer is the custodian of the fund, which is kept securely invested, thus providing a perpetual income for com- mon school purposes. Of this fund in 1912, $242,300 is invested in state bonds, municipal bonds and notes, and bank stock. Touro Jewish Synagogue fund. — This private trust fund resulted from a bequest of Abraham Touro for the support and repair of Jewish synagogues and the walls of Jewish burying grounds, in the city of New- port. The state treasurer has charge of the fund, which is invested in municipal and school district bonds and bank stock. Land grant fund. — The principal of this fimd was derived from the sale of land donated by Congress for the extension of agricultural education. In 1912 the fund consisted of $50,000 in cash. General and special funds. — Under this title are con- soUdated all cash balances of the general and special administrative funds, which amounted in 1912 to $646,352. Table 44 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. Table 44 FISCAL TEAR ENDING DEC. 31— 1912 1911 1910, 1909, 1908. 1907, 1906, 1905, 1904, 1903, 1902, 1901, 1900, 1899, 1898, 1897, 1896. 1895. 1894. 1893. 1892. 1891. 1890. 1880. S5, 800, 308 5,100,GU 4,720,915 5,0'0,483 4,220,135 3,869,346 3,005,462 2,957,536 3,035,036 3,056,205 3, 157, 155 2,542,785 2,5''0,619 2,548,271 1,557,458 1,554,952 1,554,440 1,571,951 753,440 1,337,419 1,335,803 1,334,218 2,634,500 S5, 580, 000 5,030,000 4, 600, 000 4,800,000 3,900,000 3,650,000 3,650,000 2,700,000 2,700,000 2,978,000 2,978,000 2,978,000 2,300,000 2,300,000 2,300,000 1,500,000 1,500,000 1,600,000 1, 617, 000 699,000 1,283,000 1,283,000 1,283,000 2, 534, 500 S5, 580, 000 5,030,000 4,600,000 4, 800, 000 3,900,000 3,650,000 3, 650, 000 2, '00, 000 2,700,000 2,978,000 2,9'8,000 2,9'8,000 2,300,000 2,300,000 2,300,000 1,500,000 1, 500. 000 1,600,000 1,517,000 699,000 1,283,000 1,283,000 1,283,000 2, 534, 500 Special debt to public trust funds Floating. 8220,308 70, 614 120,915 270, 483 320, 135 219,984 219,346 305, 462 2o', 536 57,036 78, 205 r% 155 242, 785 2''0, 619 248, 271 57,458 54,952 54,440 54,951 54,440 54,419 62,803 61,218 rUNDa AND INVESTMENT. $1,685,368 1,693,782 1,180,198 1,827,060 1,289,007 1,270,664 1,413,977 839,320 736,413 914,917 1,086,264 1,335,246 962, 238 920, 236 1,317,000 834,546 1,309,468 1,858,442 2, 156, 759 1,753,209 1,573,648 1,461,837 1,364,767 1,275,041 Casli. $922, 708 802, 122 435, 538 931,400 496,347 632,970 738,600 221,943 160, 786 333,540 490,887 735,014 354, 105 479, 803 845,933 389, 781 837,355 1,430,329 1,777,646 439, 142 586, 810 166,301 122, 842 166, 164 Securities. $762, 660 791,660 744,660 895,660 792, 660 737, 694 675,377 617,377 675,627 681,377 595,377 600, 232 598, 133 440,433 471, 067 444,765 472,113 428, 113 379, 113 1,314,067 1,285,536 1,241,926 1,108,877 Sinking fund assets $673,493 593,310 548,906 654,999 658,361 490, 637 416,506 359, 659 317, 136 502, 065 444, 452 389, 437 338,036 295, 752 255,089 209,422 183,516 145, 790 90,668 1,230,590 1, 145, 891 1,049,764 954,691 833, 764 DEBT LESS SINKING FUND ASSETS. Amount. 85,126,815 4,607,304 4, 172, 009 4,^15,484 3,661,774 3,379,347 3,453,840 2,645,903 2,640,400 2,532,971 2,611,753 2, 767, 718 2,204,749 2,274,867 2,293,182 1,348,036 1,371,436 1,408,650 1,481,283 (') 191,628 286,039 379, 527 1,700,736 Per capita. $9.02 8.10 7.65 8.28 7.02 6.62 6.92 5.43 5.65 5.46 5.77 6.28 5.13 5.61 5.40 3.33 3.46 3.63 3.90 0.63 0.81 1.10 6.15 DEBT LESS SINKING FUND ASSETS LESS CONTINGENT DEBT. Amount $4,8'6,815 4,257,304 3,922,009 4,165,484 3,411,774 3,379,347 3,453,840 2,645,903 2, 640, 400 2,532,971 2,611,753 2, 767, 718 2,204,749 2,274,867 2,293,182 1,348,036 1,371,436 1,408,650 1,481,283 (') 191,528 286,039 379, 527 1,700,736 Per capita. $8.58 7.65 7.20 7.81 6.54 6.62 6.92 5.43 5.55 5.46 5.77 6.28 5.13 5.61 5.40 3.33 3.46 3.63 3.90 0.53 0.81 1.10 6.15 1 SinUn? fund assets exceed debt. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year the total and per capita debt less sinking fund assets, as well as the debt less sinking fund assets less the metro- politan districts, and the per capita rate thereof. This latter amount is the real debt of the state, ' 'metro- poHtan districts" being a debt of the various cities and towns assumed by the state and met by assessments levied upon the cities and towns, for the purpose of maintaining the metropohtan parks. This debt first appeared in 1908. In arriving at the per capita debt, estimates of population based on the average per- centage of increase have been used. An inspection of the table shows the fimded debt of the state to consist whoUy of bonds. The amount outstanding varies, showing only $699,000 in 1893, and reaching $5,580,000 in 1912. The floating debt varies, ranging from $51,218 in 1890 to $320,135 in 1908. In the funds and investments the securities for four years, namely, 1880, 1890, 1891, and 1893, reach over a million dollars; but the following years indicate quite a reduction, and the highest amount after 1893 is $895,660, occuring in 1909. The amount of cash varies in each report, showing $122,842 in 1890 and $1,777,646 in 1894. The sinking fund assets vary, showing quite a reduc- tion between 1893 and 1894, but from that year on the general tendency is to increase. For the year 1893 there is practically no debt, as the sinking fund is in excess of the debt. NATIONAL AND STATE INDEBTEDNESS. 65 The per capita debt shows quite a few changes, varying from $0.53 in 1892 to $9.02 in 1912. This difference is due largely to the increase in bonded indebtedness. The per capita debt, after the metropolitan districts have been withdrawn, shows an increase from $6.54 in 1908, the year in which this debt first appears, to $8.58 in 1912. SOUTH CAROLINA. Funded debt. — On December 31, 1912, the funded debt of South Carolina consisted of various issues of bonds, to the amount of $6,694,504, of which $164,374 are old issues on which the interest has ceased — the rest are for refunding and redemption purposes; also special debt obligations to the agricultural college of $191,800 and the Clemson fund of $58,539. Floating debt. — The floating debt at the close of the fiscal year consists of outstanding warrants, temporary loans, and a private trust fund, aggregating $417,371. Sinking fund. — In 1912 the sinking fund, amount- ing to $921,839, consists of two funds under the con- trol and supervision of the state sinking fund commis- sion, the first of which was established for the reduc- tion of the bonded indebtedness of the state, and the second to bear the expense of the sinking fund com- mission. These funds are invested in South Carolina bonds and real estate mortgages. Permanent school fund. — This fund, amounting to $65,604 in 1912, was established in 1896 by an act pro- viding tliat all gifts to the state for schools, and all otlier gifts where the object of donation was not desig- nated, and aU escheated property, together with such other means as the general assembly shall approve, shaR form a perpetual school fund to be invested in state bonds bearing 6 per cent interest. Agricultural college fund. — The principal of this fund was originally derived from the sale of land donated by Congress for the benefit of agricultural and me- chanical education. The fund, amounting to $191,800, is equally divided between the Clemson Agricultural College, maintained for white students, and the Colored Normal and Industrial School, maintained for colored students. Clemson fund. — This fund of $59,097 was estab- lished by a bequest of Thomas G. Clemson to the state of South Carolina for the benefit of agricultural and mechanical education; $58,539 of this fund is invested in perpetual 6 per cent South Carolina special debt obligations, held by the board of trustees of the Clem- son Agricultural College; the balance represents a small uninvested sum. Escheated estates fund. — This fund, the title of which is self-explanatory, amounted in 1912 to $576, and is held in trust by the commissioners of the sinking fund. State insurance fund. — The principal of this fund was derived by an act providing that each county in the state and the state treasurer should pay annually to the commissioners of the sinking fund one-half of all premiums paid for insurance on state and county pub- lic buildings. This money was to be invested by them for the purpose of creating an insurance sinking fund. The fund is Hmited to $200,000. In 1912 the fund ha's $59,546 invested in real estate mortgages. General and special funds. — The cash in the general fimd of the state and in the funds for the several state institutions amounted to $545,283 at the close of the fiscal year 1912. Table 45 DEBT. FDNDS AND INVESTMENTS. Sinking lund assets. DEBT LESS SINKING FUND ASSETS. FISCAL YEAR ENDING DEC. 31— Total. Funded. Floating. Total Cash. Securities. Amount. Total. Bonds. Special debt to public trust lunds. Per capita. 1912 $7,111,875 7,104,948 7,060,219 7,161,341 7,212,417 7,059,436 7,037,390 7,005,624 7,201,648 6,990,014 7,157,917 7, 009, 622 6,968,095 6, 967, 284 6,969,198 6,953.376 7,032,869 7, 015, 164 7,070,238 7,660,399 7,317,926 7,249,694 7,356,927 7,478,296 $6,694,504 6,694,344 6,694,243 6,692,244 6,698,374 6,685,774 6,685,774 6,686,621 6,685,034 6,684,882 6,846,882 6,846,082 6,845,777 6, 844, 968 6,844,946 6,850,507 6,869,647 6,873,149 6,870,741 7,046,521 6,931,963 6,962,260 6,992,919 7, 478, 296 $6,444,165 6,444,005 6,443,904 6,441,905 6,447,935 6,435,435 6,435,435 6,435,282 6,434,695 6,434,543 6,596,643 6, 596, 743 6,695,438 6,594,629 6,594,607 6,600,168 6,619,308 6,622,810 6,620,402 6,864,721 6,740,163 6,770,460 6,801,119 7,286,496 $260,339 250,339 250,339 250,339 250,339- 250,339 250,339 260, 339 260,339 250,339 260,339 250,339 250, 339 250,339 250,339 250,339 260,339 260,339 250,339 191,800 191,800 191,800 191,800 191,800 $417,371 410,604 366,976 469, 097 614,143 373,662 351,616 320,003 516,514 305,132 311,035 163,440 122, 318 122,316 124,252 102,869 163, 222 142,005 199,497 503,878 385,963 287,334 364, 008 $1,875,286 1,938,249 1,763,212 1,498,122 1,476,290 1,293,463 1,297,298 1,301,249 710,823 708,845 1,180,613 948,278 1,114,088 1,017,273 927,778 893,005 936,372 684,365 502,555 507,415 479,159 360,071 369,058 261, 196 $766,217 725,356 648,730 392,082 424,370 275,448 319,608 416,946 411,326 409,348 430, 798 261,871 630,920 518,764 455,483 440,517 380,423 274,338 203,256 237,670 215,874 73,051 103,279 69,395 $1,109,069 1,212,893 1, 114, 482 1,106,040 1,051,920 1,018,015 977, 690 884,303 299, 497 299,497 749,716 696,407 483,168 498, 509 472,295 452,488 556,949 310,027 299,299 269, 745 263,285 287, 020 265, 779 191,800 $921,839 984,092 823,931 780,045 739,688 697,786 661,814 623,500 20,836 59,878 617,648 469,913 439, 840 391,088 342, 896 308,402 258,000 189,690 93,839 42,902 36,861 31,010 39,337 3 $6,190,036 6,120,856 6,236,288 6,381,296 6,472,729 6,361,650 6,376,676 6,382,124 7,180,712 6,930,136 6,640,269 6, 639, 609 6,528,266 6,576,196 6,626,303 6,644,974 6,774,869 6,825,464 6,9''6,399 7,507,497 7,281,065 7,218,684 7,317,590 7,478,293 $3.98 3.98 1910 4 11 X909 4 25 4.35 1907 4.34 1906 4 40 1906 4 46 1904 5.08 1903 4.97 1902 4.82 1901 4.81 1900 4.87 1899 4.97 1898 S.08 1897 5.17 1896 6.35 1895 5.47 1894 6.68 1893 6.21 1892 6.12 1891 6 16 1890 6.36 28652°— 14- 66 WEALTH, DEBT, AND TAXATION. Table 45 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also tbe same data for 1880. The total debt, also funds and investments are given, and for each year the total and per capita debt less sinking fund assets are included in the table. In arriv- ing at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows that the funded debt consists principally of outstanding bonds, the greatest amoimt being $7,286,496 in 1880, while the other years vary a little, the general tendency being to decrease. Only one change takes place in the special debt obligations to public trust funds, increasing from $191,800 in 1893 to $250,339 the following year. The floating debt fluctuates, reaching the maximum amount of $516,514 in 1904. In the funds and investments the securities show decided changes, increasing from $191,800 in 1880 to $1,212,893 in 1911, which is the maximum. The cash fluctuates, and shows a decided tendency to in- crease. After 1894 the sinking fund assets materially increase, with the exception of the years 1903, 1904, and 1912, which latter year shows only a slight decrease from that of the year preceding. The per capita debt was reduced from $7.51 in 1880 to $3.98 in 1912, with the exception of a very slight increase in 1902, 1903, and 1904. The decrease in the per capita debt is due chiefly to the steady increase in population. SOUTH DAKOTA. Floating debt. — On Jime 30, 1913, South Dakota had no funded debt, the only debt of the state reported being $370,000 of revenue warrants. Common school fund. — The state constitution pro- vides that all proceeds of the sale of public lands granted by the United States, the proceeds of all escheats, forfeitures, gifts, donations, surplus revenue, and all other property acquired for the public schools shall remain a perpetual fund, held in trust by the state, for the maintenance of the public schools. The principal shall forever remain inviolate, and may be increased but not diminished, and the state shall make good any loss that may occur. Agricultural college fund. — This fund was established by an act of the legislature, under the congressional provision of 1862, which gave 120,000 acres of public lands for the purpose of founding an agricultural and mechanical college in South Dakota. Other pullic trust funds. — Under this title are in- cluded the funds of a number of educational, charitable, and reformatory institutions. The principal of each of these various funds was derived from the proceeds of the sale of endowment lands, granted by the state for the pm*pose of foimding and maintaining these state institutions. General and special funds. — These consist of the cash balances of all administrative funds. Table 46 gives a summary of the debt, funds and investments, and sinking funds assets, for 1890 and from 1892 to 1913. 'Table 46 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKDJO FUND ASSETS. nSCAL YEAR ENDING Total. Funded. Floating. Total. Casli. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1913 $370,000 659,631 661,332 835,426 676,049 404,318 250,000 462,000 637,000 489,000 504,000 677,500 863,300 613,300 708,300 861,600 1,086,600 1,388,200 1,562,800 1,040,200 1,040,200 1,175,200 $3'0,000 659,631 661,332 ,835,426 '676,049 404,318 250,000 250,000 400,000 200,000 215,000 260,000 260,000 $11,788,130 11,163,929 9,449,005 8,466,378 7,224,763 6,024,316 422,714 5,474,172 697,984 4,385,207 392,198 2,652,770 2,300,493 1,747,687 1,615,185 1,310,535 1,059,301 1,035,178 892,963 976,572 758,637 426,414 11926,135 1,001,835 429,485 670,dl6 797,934 672,017 422,714 526,641 697,984 273,261 392, 198 846,491 786,767 666,041 646,786 607,712 411,823 412,160 320,490 433,026 356,791 309,114 $10,862,996 10,162,094 9,019,620 7,785,263 6,426,829 6,462,298 4,947,631 m 4,111,946 1,706,279 1,613,736 1,181,646 968,399 802,823 647,478 623,018 672, 473 643, 646 401, 846 116,300 $370,000 559,631 661,332 836,426 676,049 404,318 250,000 230,163 393,812 363,491 457,263 603,119 762,871 640,811 681,772 701,742 1,001,696 1,320,269 1,637,438 1,000,874 998,617 1,152,539 $0.68 1912 0.90 0.93 1910 1.42 1909 1.19 0.73 1907 0.47 ]g06 $212,000 237,000 289,000 289,000 427,600 613,300 613,300 708,300 861, 600 1,011,600 1,138,200 1,138,200 1,040,200 1,040,200 1,040,200 $212,000 237,000 289,000 289,000 427,500 613,300 613,300 708,300 861,600 1,011,600 1,138,200 1,138,200 1,040,200 1,040,200 1,040,200 $231,837 243,188 135,509 46,737 74,381 110,429 72,489 126,628 169,858 84,904 67,931 25,362 39,326 41,583 22,661 0.4S 1905 0.79 1904 0.74 1903 - -- 1.00 1902 1.37 1901 1.79 1900 1.34 1899 . - - - 1.47 1898 1.79 1897 76,000 250,000 424,600 2.69 1896 3.47 1895 1 4.09 1894 2.70 1893 2.74 1892 135,000 3.20 18912 1890 871,696 860,200 860,200 11,396 10,053 10,053 871,595 2 50 L Does not include regents' fund, not sliown by auditor. * Not reported. NATIONAL AND STATE INDEBTEDNESS. 07 The total debt, also funds and investments are shown, and for each year indicated the total and per capita debt less sinking • fund assets are included in the table. In arriving at the per capita debt, esti- mates of population based on the average percentage of increase have been used. An inspection of the table shows a bonded indebted- ness amounting in 1890 to $860,200, but increasing to $1,0<: 0,200, in 1892, and then gradually decreasing, until in 1907 it disappeared. The floating debt fluctuated greatly, reaching the maximum amount of $835,425 in 1910, and in 1913 it fell to $370,000. In the funds and investments the securities show a steady increase, reaching the highest amount, $10,862,995, in 1913. The cash shows a most decided change in the various years, ranging from $10,053 in 1890 to $1,001,835 in 1912. The sinking fund assets were never very large, and disappeared altogether in 1907, owing to the fact that there was no bonded indebtedness. The per capita debt of the state varies, the maximum being $4.09 in 1895, when the indebtedness is the greatest, and the minimum $0.58 in 1913, when the floating debt proved the only indebtedness of the state. TENNESSEE. Funded deht. — On December 20, 1912, the funded debt of Tennessee is made up of four series of nego- tiable bonds. Of the negotiable bonds, one issue, amounting to $335,666, represents old imfunded bonds held by the United States Government. awaiting a settlement of claims between the state and the Federal Government. The state, however, reports claims against the United States Government which will offset these bonds. The two issues of general refunding bonds, known as the "new settlement bonds" and the "redemption bonds of 1893," amount- ing to $9,222,000 and $1,000,000, respectively, makes up the greater part of the bonded debt. The fourth issue of bonds, for $600,000, provided for the erection of a state penitentiary. Certificates of indebtedness are held by charitable and private educational institutions and by the Uni- versity of Tennessee, and interest is paid to the various institutions holding the certificates at the rates of 5 and 6 per cent. Table 47 DEBT. FUNDS AND INVESTMENTS. Sinking lund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAR ENDING Total. runded. !Eloating. Total. Cash. Securities. Amoimt. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $11,811,726 $11,793,666 $11,793,666 $18,060 $1,283,309 $878,309 $405,000 $86 $n, 811, 640 $5 32 19111 1910 ii, 861,693 11,793,666 n, 793, 666 8,027 808,384 403,384 405,000 86 11,801,607 1909 1 1908 12,467,901 12,461,566 12,461,586 6,335 1,635,243 1,230,243 405, eoo 17,231 12,450,670 5 78 1907 1 1900 13,910,238 13,907,266 13,907,266 2,972 1,663,997 1,258,997 405,000 18,728 13,891,510 1905 ' 1904 15,196,828 15,074,406 15,074,466 122,362 1,540,620 1,135,620 405,000 5,691 15,191,137 7 27 1903' 19022 15,807,634 15,681,966 15,681,966 125,668 827,701 422,701 405,000 144 15,807,490 7.69 1901' 1900 18,919,693 18, 786, 100 15,631,600 S3, 154, 500 133, 593 3,423,503 110,003 3,313,500 18,919,693 9 36 1899 1 1898 19,169,018 18,967,700 15,813,200 3,154,500 201,318 3,398,571 85,071 3,313,500 19,169,018 9 72 1897 > 1896 19,050,212 18,924,400 15,784,900 3,139,500 125,812 3,534,752 271,252 3,313,500 19,050,212 18951 1894 18,997,732 18,891,300 15,751,800 3,139,500 106,432 4,066,718 753,218 3,313,500 18,997,732 10 15 18931 1892 19,620,042 19,452,708 16,313,208 3,139,500 167,334 3,344,733 31,233 3,313,500 19,620,042 10.78 18911 1890 19,695,974 30,802,668 19,545,408 24,354,008 16, 405, 908 21,445,508 3,139,500 2,908,500 150, 566 6,448,660 3,393,266 3,525,293 79,766 211, 793 3,313,500 3,313,500 19,695,974 30, 802, 668 11 14 1880 19.97 1 Not reported. ' Special debt obligation of $2,512,500 not reported after 1900, eitlier as a debt or an asset. Floating deht. — State warrants outstanding, to the amount of $18,060, constitute the floating debt. Sinking fund. — This fund was created for the pur- pose of retiring the bonded indebtedness by the setting aside of 10 per cent of the gross receipts of the state, less the penitentiary receipts. Before 1912 this sink- ing fund act had been suspended, and there remained on December 20 a cash balance of $86. University and agricultural college fund. — The princi- pal of this fund was derived from the sale of land scrip donated by Congress under an act passed in 1862 and under subsequent acts which provided for a 68 WEALTH, DEBT, AND TAXATION. permanent endowment fund for an agricultural college. The only assets of the fund are state certificates of indebtedness, amounting to $405,000. General and special funds. — The cash balances of all administrative fimds, aggregating $878,223, are con- solidated and reported under this heading. Table 47 gives a biennial summary of the debt, funds and investments, and sinking firnd assets, from 1890 to 1912, also the same data for 1880. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year the total and per capita debt less sinldng fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows the bonded in- debtedness in 1880 to have been $21,445,508, but from that year on a steady decrease is noted. The special debt obUgations to pubhc trust funds vary slightly,, being the greatest in 1898 and 1900, but have been dropped as a liability after 1900. The floating debt was exceedingly heavy in 1880, being $6,448,660, but shows a fluctuating decrease in the following years, going as low as $2,972 in 1906. In the funds and investments it will be noted that the securities remain the same from 1880 to 1900, after which year they* drop to $405,000 and remain the same until 1912. The cash varies, fluctuating from $31,233 in 1892 to $1,258,997 in 1906. The sinking fund assets are extremely small, hence the debt less sinking fund assets shows' sHght difference from the total debt. The per capita debt declined steadily from $19.97 in 1880 to $5.32 in 1912, due to the decrease in the bonded indebtedness and increase in population. TEXAS. Funded debt. — In 1912 the funded debt of Texas, con- sisting wholly of bonds issued for refunding purposes, amounted to $3,977,500. The state bonds are owned and held as follows: The state school fund, $2,772,000; the state university, $603,600; the state bliad asy- lum, $134,400; the state deaf and dumb asylum, $104,300; the state lunatic asylum, $126,300; the state orphan asylum, $30,600; the state agricultural and mechanical college, $205,000; and private indi- viduals, $1,300. Floating deht. — At the close of the fiscal year the floating debt consists of a private trust fund of $599,318 and outstanding warrants to the amount of $79,681. Permanent schoolfund. — The school fund, amounting in 1912 to $67,749,083, was provided for as follows: The state constitution provides that each alternate section of land reserved by the state out of grants made to railroads or other corporations and one-half the public domain (later legislation has also added all land recovered by the state through suits), shall con- stitute the permanent school fund. The law further provides that all lands in unorganized counties sold for taxes and not redeemed within two years shall revert to the school fund. The poll tax of $1 on aU male inhabitants between the ages of 21 and 60 years, the interest from the invested funds of the per- manent school fund, and such sums from the general revenue as the legislature shall from time to time appropriate, shall constitute the available school fund. In 1912 the fund is invested in state, county, school district, and railroad bonds, and in real estate mortgages. Permanent university fund. — The principal of thia fund was derived from the proceeds of the sale or lease of 2,000,000 acres of land set apart by the state for the benefit of the state university. In addition, all other grants, donations, and appropriations that may be received from any source are added to the fund. In 1912 the fund invested in Texas bonds and real estate mortgages amounts to $642,622. Endowment fund. — This endowment of $5,000 for the benefit of the medical branch of the state uni- versity is invested in Texas bonds, with a cash balance of $772. Agricultural and mechanical college fund. — This fund was established from the proceeds of the sale of 180,000 acres of land donated by Congress for the purpose of advancing agricultural and mechanical education. It is a perpetual fund, and amounted to $207,654 in 1912, invested in Texas bonds, with a cash balance of $2,654. Asylum funds. — These funds were estabhshed by an. act of the legislature setting apart 400,000 acres of land for the blind, deaf and dumb, lunatic, and orphan asylums — 100,000 acres for each institution. The proceeds from these lands are credited to the fund of the proper asylum and constitute a permanent fund for the endowment of the institution. The total amount of these funds in 1912 was $590,504, invested in Texas bonds and real estate mortgages, with small cash balances. Escheated estates fund. — This fund is derived from escheated estates, and the proceeds are subject to the disposition of the state legislature. On August 31, 1912, this fund held treasury notes for $375, and $5,549' in cash. NATIONAL AND STATE INDEBTEDNESS. 69 BanTc guaranty fund. — ^This is a private trust fund, the title being self-explanatory. In 1912 the state held $599,318 in cash for this fund. General and special funds. — ^AU general and special administrative funds whose only assets are cash on hand are tabulated under this heading. Table 48 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAR ENDING AUG. 31 — Total. .Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 S4, 656, 499 13,977,500 $3,977,500 $678,999 $70,471,884 $1,392,735 $69,079,149 $4,656,499 $1.14 19111 1910 4, 126, 965 3,977,500 3,977,600 149,465 66,679,008 1,739,754 64,839,254 4,126,965 1.05 19091 1908 3,989,400 3,989,400 3,989,400 65,085,733 1,401,798 53,683,935 3,989,400 1.07 19071 1906 3,989,400 3,989,400 3,989,400 41,630,337 1,333,649 40,296,688 3,989,400 1.12 19051 1904 3,989,400 3,989,400 3,989,400 32,756,465 508,847 32,247,618 3,989,400 1.17 19031 1902 3,989,400 3,993,252 3,993,969 3,994,236 3,992,405 3,992,405 4,062,043 4,752,526 4,444,718 3,994,177 3,996,877 4,239,877 4,238,105 5,657,013 3,989,400 3,989,400 3,989,400 3,989,445 3,992,030 3,992,030 3,992,030 3,992,030 3,992,030 3,992,030 3,994,730 4,237,730 4,237,730 5,566,928 3,989,400 3,989,400 3,989,400 3,989,445 3,992,030 3,992,030 3,992,030 3,992,030 3,992,030 3,992,030 3,994,730 4,237,730 4,237,730 5,666,928 28,220,144 12, 857, 761 38,844,158 10,941,450 10,259,879 9,350,338 9,401,315 9,280,480 9,292,088 9,680,731 10,279,384 10,149,794 9,144,069 5,131,940 2,200,824 2,619,943 2,976,484 3,396,312 2,216,032 821,000 743,765 622,020 444,943 830,223 1,391,960 1,657,998 1,451,203 1, ■045, 839 26,019,320 10, 237, 818 35,867,674 7,545,138 8,043,847 8,529,338 8,657,550 8,658,460 8,847,145 8,750,508 8,887,424 8,491,796 7,692,866 4,086,101 3,989,400 3,993,252 3,993,969 3,994,236 3,992,405 3,992,406 4.062,043 < 752, 526 4,444,718 3,994,177 3,996,877 4,239,877 4,238,106 6,650,213 1.24 1901 3,852 4,569 4,791 375 375 70,013 760,496 452,688 2,147 2,147 2,147 375 90,085 1.27 1900 1.31 1899 1.34 1898 1.38 1897 . 1.42 1896 1.49 1895 1.79 1894 .1.73 1893 1.61 1892 1.66 1891 1.82 1890 1.90 1880 $6,800 3.55 1 Not reported. Table 48 gives an annual summary of the debt, funds and investments, and sinking fund assets, for 1880 and from 1890 to 1902 ; from this period until 1912 a biennial summary is shown. In each year the total debt is given, together with the general classes thereof. Corresponding data are shown for funds and investments. The table also shows for the years indicated the total and per capita debt less sinking fund assets. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows that the funded debt consists wholly of outstanding bonds. After 1891 the amount of bonded indebtedness practically remains unchanged. The floatuig debt fluctuated considerably, varying from $375 to $760,496. The years 1902, 1904, 1906, and 1908 do not show any floating debt. In the funds and investments the securities in- creased from $4,086,101 in 1880 to $69,079,149 in 1912. In 1899 the securities increased in a marked degree, from $7,545,138 to $35,867,674 in 1900, decreasing in 1901 to $10,237,818. From this year a steady increase is noted until the maximum is reached in 1912. The cash fluctuated between $444,943 in 1894 and $3,396,312 in 1899. For 1912, $1,392,735 in cash is reported. No sinking fund is reported for any year except 1880, and then the amount was only $6,800, which sum is not sufficient to lessen the debt to any extent. However, the increase in the population of the state has resulted in a steady decrease in the per capita debt, with the exception of the last year, when the per capita debt shows a slight increase over that for the preceding year, owing to the debt being increased by an unusually large floating debt. UTAH. Funded debt.— On November 30, 1912, the funded debt of Utah consisted of five series of bonds, out- standing to the amount of $1,210,000. The bonds issued prior to 1902 were all authorized for refunding purposes, for meeting deficits in revenues for general purposes, for the payment of territorial indebtedness assumed by the state, and for refunding outstanding bonds, of the territory. In 1911 the state issued $300,000 in bonds for the purpose of securing funds with which to erect a central building at the state uni- versity and $260,000 additional bonds for the purpose of state road building. Floating deU. — Utah reports $219,694 of outstand- ing warrants as the only floating debt. School funds. — The school funds of Utah are derived from the sale of lands donated to the state by the United States for educational purposes. Only a small proportion of these lands appears to have been sold. The proceeds of such sales are invested by the state board of land commissioners, in whose custody all TO WEALTH, DEBT, AND TAXATION. securities belonging to these funds are held. In 1912, these investments amount to $1,769,535. University land and other puUic trust funds. — Land grants have been made to the following funds: Uni- versity land, agricultural college, normal school, reform school, school of mines, institute for the bhnd, deaf and dumb asylum, insane asylum, miners' hospital, reser- voir, public building, and redemption funds. The pro- ceeds of any land sales are invested in interest bearing securities by the state board of land commissioners, in whose custody all such securities are held. These funds are invested in county, municipal, school district, and irrigation district bonds and in mortgages, and warrants. General and special fwnds. — The special administra- tive funds of the state, which are quite numerous, are derived generally from taxation; their cash balances are reported with those of the general fund under the common heading, "General and special funds." Table 49 gives a summary for the years 1890 to 1912. A floating debt for 1880 represents the only indebted- ness for that year. Table 49 FISCAL YEAR ENDING NOT. 30— 1912 $1,429,694 1,602,993 1,186,108 991,820 928,994 912,079 935,891 962,676 968,701 972,837 974,492 1,014,702 1,025,871 917,118 932,086 972,200 1,002,829 901,435 700,000 821,868 700,000 450,000 450,000 9,120 1911 1910.. 1909 1908 1907 1906 1905. . 1904 1903 1902 1901 1900... . 1899 1898 1897 1896 1895 1894 1893.. 1892 1891 1890 1880 Total. Funded. Total. $1,210,000 1,460,000 900,000 900,000 900,000 900,000 925,000 925, 000 950,000 950,000 950,000 1,000,000 1,000,000 900,000 900,000 900,000 900,000 700,000 700,000 700,000 700,000 450,000 450,000 Bonds. $1,210,000 1,460,000 900,000 900,000 900,000 900, OOO 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000 900,000 700,000 700,000 700,000 700,000 450,000 460,000 Special debt to public trust funds. $25,000 25,000 50,000 50, 000 50,000 100,000 100,000 Floating. $219, 694 142,993 286,108 91,820 28,994 12,079 10,891 37,676 18,701 22,837 24,492 14, 702 25,871 17,118 32,086 72,200 102,829 201, 435 121,868 9,120 FUNDS AND INVESTMENTS. Total. $4,878,019 (') 3,618,940 (') 2,174,681 (') 2,090,660 0) 1,706,120 0) 1,291,736 0) 920,826 (1) 615,164 485,143 420,950 Casli. $1,661,701 (') 902,739 (') 258,833 (') 854,173 0) 643,603 0) 589,751 C) 652,972 0) 485,032 384,370 420,950 §i Securities. $3,216,318 0) 2,716,201 G) 1,915,848 (') 1,538,487 0) 1,062,517 • P) 701,985 (') 367,854 0) 130,132 100,775 Binking lund DEBT LESS SINKING FUND ASSETS. $1,429,694 1,602,993 1,188,108 991,820 928,994 912,079 935, 891 962.676 988, 701 972.837 974,492 1,014,702 1,025,871 917, 118 972,200 1,002,829 901,435 700,000 821,888 700,000 450,000 450,000 9,120 Per capita. $3.62 4.16 3. IS 2.71 2.61 2.64 2.78 2.95 3.06 3.17 3.23 3.53 3.79 3.39 3.53 3.78 > 4.00 3.69 2.94 3.66 3.12 2.06 2.13 COS ' Not reported. Where it has been possible, the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year reported the total and per capita debt are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of in- crease have been used. An inspection of the table shows the bonded indebt- edness of the state to have materially increased since 1890. Bonds to the amount of $450,000 were issued in that year, while in 1911 they had increased to $1,460,000, declining in 1912 to $1,210,000. Special debt obUgations to pubUc trust funds amounting to $100,000 in 1900 decreased to $25,000 m 1906, and dis- appeared after that year. The floating debt fluctuated considerably, ranging from $9,120 in 1880 to $286,108 in 1910. In the funds and investments the securities for the years reported show a decided increase from the mini- mum of $100,775 in 1897 to $3,216,318 in 1912. The cash fluctuated, the most noticeable changes being in the years 1908, 1910, and 1912. No sinking fund assets are recorded in any year, thus leaving the debt less sinking fund assets the same as the total debt. The per capita debt was $2.13 in 1890, while the maximum of $4.16 was reached in 1911. "National and state indebtedness. 71 VERMONT. Funded debt— On June 30, 1913, the funded debt of Vermont amounted to $346,631 and consisted wholly of special debt obligations to public trust funds. These obligations were to the Huntington fund (now trans- ferred to the school fund), and a state certificate issued to the agricultural college. Floating debt. — At the close of the fiscal year June 30, 1913, the floating debt included temporary loans of $200,000 and outstanding warrants of 123,275. Permanent school fund. — This fund was established by an act of the general assembly in 1906, which both created the fund and assigned thereto three historic state funds, namely, the United States deposit money, the Huntington will fund, and the Civil War claims — thus making a disposition of these three great items which insures their definite and honorable use in the educational poHcy of the state. The management, in- vestment, and distribution of this fund is intrusted to a board of trustees. The investments which may be made are limited to United States bonds, state bonds, and bonds of cities and school districts of over 20,000 population and whose indebtedness does not exceed 5 per cent of their assessed valuation. This fund in 1913 amounted to $1,171,328, and the assets include bank deposits. United States deposits, municipal and other state bonds, with a large cash balance. Agricultural college fund. — This fund was derived from the sale of land scrip granted by Congress. In 1913 the only asset of the fund is a state certificate of indebtedness for $135,500, which is tabulated as a special debt obligation to public trust funds. The Huntington fund. — The Huntington fimd was left to the state by the will of Araunah Himtington. The securities were sold and the money used for state purposes. In 1905 this sum, aggregating $211,131, was transferred to the permanent school fund as a special debt obligation to public trust funds. Bennington battle monument fund. — This fund, the title of which is self-explanatory, in 1913 consists of a bank deposit of $1,065, drawing 4 per cent interest. General and special funds. — The cash in the general fund of the state and in the funds for the different state institutions on June 30, 1913, amount to $254,605. Table 50 gives a sunamary of the debt, funds and investments, and sinking fund assets, from 1890 to 1913, and also the same data for 1880. Table 50 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKINO FUND ASSETS. FISCAL TEAK ENDING JUNE 30— Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1913 S569,906 366,951 361,939 356,960 351,180' 353,369 354,192 404,148 664,311 368,950 362,946 391,816 453,178 361,014 691, 014 506,014 631, 014 411,014 386,014 361,014 361,044 361,044 521,976 148, 416 151,020 $346,631 346, 631 346,631 346,631 346, 631 346,631 346, 631 346, 631 346,631 346,631 346,631 346, 631 346,631 346, 631 346, 631 346, 631 346,631 346, 631 346, 631 346,631 346,631 346, 631 346,631 135,600 139,600 8346,631 346, 631 346, 631 346,631 346,631 346,631 346,631 346, 631 346,631 346,631 346, 631 346,631 346, 631 346,631 346,631 346, 631 346, 631 346, 631 346, 631 346,631 346,631 346, 631 346, 631 135,600 136,500 5223,275 20,320 15,308 9,329 4,549 6,738 7,561 67,617 207, 680 12,319 16,315 45,185 106,647 14,383 344,383 159,383 184,383 64,383 39,383 14,383 14, 413 14,413 175,345 12,916 11,620 51,562,498 1,747,931 1,791,402 1,834,466 1,711,914 1,768,983 1,618,530 973, 019 1,003,410 760,269 736, 122 676,665 463,266 468,868 485,329 489, 128 418,810 661,152 530, 843 695,708 643, 722 649,034 414, 331 253, 209 349,341 $313, 003 519,389 666, 142 691,329 468,469 617,234 484, 081 394,555 416, 714 412,663 388, 426 324,963 101,560 117, 162 133,633 137,432 67,114 209, 466 179,147 344, 012 192, 026 197,338 62,635 117, 709 213, 841 $1,249,495 1,228,642 1,226,260 1,243,126 1,243,466 1,251,749 1,134,449 678, 464 687, 696 347,696 347, 696 351,696 361,696 351,696 361,696 361,696 351,696 351,696 351,696 361,696 351,696 361,696 361,696 135,600 136, 600 $569,906 366,951 361,939 355,960 361, 180 363,369 364, 192 404,148 664,311 358, 960 362,946 391,816 453,178 361, 014 691,014 506,014 531,014 411,014 386,014 361,014 361,044 361, 044 621,976 148,416 161, 020 11.68 1912 1.02 1.01 1910 1.00 1909 0.99 1908 1.00 1.00 1.15 1906 1.68 1.03 1903 1.04 1.13 1901 1.31 1900 1.05 2.02 1.48 1897 1.58 1.21 1.14 1894 1.07 1893 1.07 1.08 1891 1.56 1890 0.45 1880 84,000 0.45 In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows that all the bonds were paid off prior to 1890. The floating debt fluc- tuated, but the close of the period shows an increase over the beginning. The special debt obligations to public trust funds remained unchanged from 1891 to 1913. In the funds and investments the cash fluctuated from $62,635 in 1891 to $591,329 in 1910, decreasing to $313,003 in 1913. The securities remained stationary 72 WEALTH, DEBT, AND TAXATI0H7 from 1891 to 1902, slightly decreased for two years, then steadily increased until the close of the period. Vermont has no sinking fund assets; therefore the debt less sinking fund assets remains the same as the total debt. The per capita debt fluctuated from the beginning to the close of the period, being $0.45 in 1880 and $1.58 in 1913. Its highest point, however, was reached in 1899, when it showed $2.02. VIRGINIA.^ Funded debt. — On September 30, 1912, the funded debt of Virginia consisted of state bonds to the amount of $22,094,944; nonnegotiable certificates amounting to $1,764,124, issued to state educational institutions and tabulated as special debt obligations to pubhc trust funds; and corresponding certificates to the value of $703,482, issued to educational institutions not under state control and tabulated as special debt obligations to private schools and colleges. Of the state bonds, $177,488 are old bonds on which the interest has ceased; the rest are refunding issues of old bonds issued for internal improvements. Floating debt. — At the close of the fiscal year 1912 the floating debt consists of $92,301 outstanding war- rants. Sinking fund. — The sinking fund commissioners hold the following securities: Railroad stock, $584,900; state bonds, $189; and unproductive West Virginia certificates, $2,026,439. Literary fund. — This fund, which is under the con- trol of the board of education, the income of which is used for the support of pubhc schools, is derived from the proceeds of the sale of lands granted by Congress for school purposes, from escheats, waste and unap- propriated state lands, forfeits, fines, donations, and sums appropriated by the state legislature. On Sep- tember 30, 1912, the assets of the fund amoimted to $3,289,256. These assets include Virginia bonds, school district and municipal bonds. West Virginia and school certificates, and a large cash balance. The West Virginia certificates are of uncertain value. Dawson fund. — The principal of this fund originated from a gift, by the will of Martin Dawson, of $35,588 of invested funds, of which $1,400 is in state bonds, and $34,188 in school and college certificates, the interest on which is paid to the treasurers of Albemarle and Nelson Counties, to be expended for common school pTirposes. University of Virginia fund. — The principal of this fund, which constitutes a perpetual endowment of $148,600, is secured by registered state certificates of indebtedness, and tabulated as a special debt obliga- tion to pubhc trust fmids. Virginia Military Institute fund. — This fund of $20,000 is a perpetual endowment, and is secured (and tabulated) similarly to the state university fund. Table 51 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. riSCAL YEAB ENDING Total. Fiinded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $24,664,861 24,969,004 25,218,606 26,173,905 25,331,071 26,546,064 26,696,166 26, 888, 105 27,234,083 27,156,664 27,108,713 28,868,766 28,906,681 28,909,192 28,967,480 28,990,721 28,998,678 29,126,210 29,273.463 30,339,639 40,762,310 41,047,663 40,168,664 34,810,671 $24,662,660 24,8-'3,6a5 25,092,941 25, 170, 432 25,243,576 26,447,332 25,689,166 26,731,385 27,048,265 27,042,990 27,044,310 27,431,630 27,427,684 27, 426, 275 27,419,389 27,416,103 27,416,192 27,501,958 27,441,710 27,617,569 31,469,064 31, 660, 342 31,761,762 30,736,560 $22,094,944 22,406,999 22,625,335 22,702,826 22,775,969 22,980,876 23,122,700 23,264,929 24,681,809 24,676,634 24,577,854 24,966,074 24,961,128 24,959,819 24,952,933 24,949,647 24,949,736 26,036,602 24,975,264 25,167,713 29,009,198 31,143,874 31.246,294 30,736,660 $2,467,606 2,467,606 2,467,606 2,467,606 2,467,606 2,466,456 2, 466, 466 2, 466, 456 2,466,456 2,466,456 2,466,456 2,466,456 2, 466, 456 2,466,466 2,466,466 2,466,456 2,466,456 2,466,456 2,466,456 2,469,856 2,459,866 516,468 616,468 $92,301 86,399 126,666 3,473 87,496 97,732 107,000 156, 720 186,818 113,664 64,403 1,437,236 1,478,097 1,482,917 1,638,091 1,674,618 1,682,386 1,624, 252 1,8.31,7,'J3 2,722,070 9,293,256 9,387,221 8, .396, 902 4,075,121 $8,379,176 8,366,681 8,118,673 8, 149, 823 8,346,219 8,400,482 8,148,504 8,211,578 9,316,089 9,077,091 9,343,814 9,108,410 8,662,823 8,239,494 7, 687, 719 7,591,974 7,632,430 7,617,627 7,601,647 7,641,692 10,385,197 9,940,981 9,664,186 6,213,109 $370,797 424,462 312,356 429,961 706,065 962,067 747,391 876,565 916,676 726,778 1,029,801 1,098,177 1,121.690 1,262,361 858,086 815,641 819,297 609, 894 603,814 1,013,459 1,430,287 1,064,571 677,778 67,933 $8,008,378 7,932,219 7,806,317 7,719,862 7,640,164 7,438,415 7,401,113 7,336,013 8,399,513 8,350,313 8,314,013 8,008,233 7,641,233 6,977,133 6,829,633 6,776,433 6,713,133 7,007,733 6,997,733 6,628,233 8,954,910 8,886,410 8,886,410 6,155,176 $2,611,706 2,612,395 2,612,997 2,612,106 2,611,409 2,494,476 2,495,674 2,615,661 3,749,995 3,682,107 3,643,940 3, 764, 704 3,396,780 3,223,820 3,076,961 3,042,596 3,012,263 3,315,832 3,282,909 2,923,228 5,238,154 5, 205, 268 5, 172, 139 2,046,471 $22,043,146 22,346,609 22,605,609 22,561,799 22,719,662 23,050,589 23,200,482 23,372,454 23,484,088 23,474,547 23,464,773 25,194,062 26,608,981 25,686,372 25,880,519 25,948,125 25,986,315 25,810,378 25,990,554 27,416,411 35,524,156 35,842,295 34,986,52,'i 32,764,200 $10,46 10 71 1911 1910 1909 11 03 1908 1907 1906 11 71 1906 1904 12.11 12.23 12.36 13.38 13.74 13.99 14.25 14.44 14.63 14.69 14.96 15.97 20.93 21.37 21.13 21.66 1903 1902 1901 1900 1899 1898 1897 1896 1895 1894 1893 1892 1891 1880 Virginia Agricultural and Mechanical College fund, and Hampton Normal and Agricultural Institute fund. — These funds originated in a grant from Congress of scrip for the benefit of agricultural and mechanical ' See also statement tor West Virginia. education. In Virginia the proceeds of this grant have been divided between two institutions — two-thirds to the agricultural and mechanical coUege (now Virginia Polytechnic Institute) and one-third to the Hampton NATIONAL AND STATE INDEBTEDNESS. 73 Normal and Agricultural Institute. The assets in 1912 ■consisted of state registered certificates, $344,312 of •wHch are credited to the first-named institution and $172,156 credited to the second. Miller Manual Labor School fund. — This fimd is the result of a bequest by Samuel MUler for the purpose of establishing a manual training school for destitute white children in Albemarle County. The assets of this fund include $1,044,868 of state registered certifi- cates, tabulated as a special debt obUgation to pubhc trust funds; $70,000 in institute bonds, $331,300 in municipal bonds, and $16,423 in cash. Retired teachers' furd. — This fund was established ior the purpose of providing a pension for retired teach- ers. The income is derived by an assessment of 1 per cent on the salary of all pubUc school teachers, from appropriations, and from interest on its investments. In 1912 this fimd held $50,000 of state bonds, $700 of municipal bonds, and $13,073 ia cash. General and special funds. — These consist of the cash balances of aU administrative funds. Table 51 gives a sunmiary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. In each year the total debt and the general classes thereof are shown. Correspondiag data are shown for funds and investments, and for each year indicated the total and per capita debt less sinkiag fund assets are iacluded in the table. In arriving at the per capita debt, estimates of population based on the average percentage of in- crease have been used. An inspection of the table shows a slightly decreasing bonded indebtedness. The special debt obligations to pubhc trust funds have remained practically stationary siace 1892, which year shows a marked increase over the two previous years. The floating debt has rapidly decreased from $9,387,221 in 1891 to $92,301 in 1912. In the funds and investments both cash and securi- ties fluctuate considerably, the period closing with a decided decrease in the cash and with a lesser decrease in the securities. The sinking fund assets decreased steadily. The debt less sinking fund assets is in no year markedly less than the funded debt. The per capita debt de- creased from $21.66 in 1880 to $10.46 in 1912. WASHINGTON. Funded debt. — On September 30, 1912, the funded debt of Washington consisted of $125,000 of state highway bonds, issued for the purpose of purchasing the Wenatchee Bridge; and $206,024 of normal school series bonds, for the purpose of erecting and equipping two state normal schools. Floating debt. — ^At the close of the fiscal year 1912 the floating debt included $227,600 of general fund warrants, $534,646 of capitol building warrants, and $462,742 of Alaska- Yukon-Pacific Exposition warrants. Permanent school fund. — The principal of this fund is derived from the proceeds of school and state lands, appropriations, donations, escheats, forfeitures, and surplus revenue, 5 per cent of the proceeds of state lands sold by the United States, and such other funds as the legislature may provide. The assets of the fund in 1912 are $537,000 of county bonds, $4,811,840 of school district bonds, $3,137,466 of municipal bonds, and $478,361 cash. Agricultural college fund. — The principal of this fund was originally derived from grants by Congress. It amounted in 1912 to $173,529, and is invested in school district and municipal bonds, with a small cash , balance. Charitable, educational, penal, and reformatory in- stitutions fund. — This fund of $270,826 represents the endowment of the charitable, educational, penal, and reformatory institutions, and the revenue from this permanent fund is apportioned among these several institutions as the legislature provides. In 1912 this fund is invested in county, school district, and munici- pal bonds. Normal school fund, scientific school fund, and the University of Washington fund. — ^These permanent fimds of the state were derived principally from the sale of granted lands and hold the following invest- ments: The normal school ftind, $164,607 of school district and municipal bonds; the scientific school fund, $251,579 of school district and municipal bonds; and the University of Washington fund, $94,811 of school district bonds. The above figures include the cash balances. Accident fund. — This fund, created in 1911 under the workingmen's compensation act, is self-explanatory. All the resources of the fund are to be devoted exclu- sively to compensating injured workingmen. The assets of this fund in 1912 include $151,500 school district bonds. $87,500 municipal bonds, and $350,184 in cash. General and special funds. — AU administrative funds with only cash assets are reported under this title. Table 52 gives a biennial summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912. In each year the total debt and the general classes thereof are shown. Corresponding data are shown Jor funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. 74 WEALTH, DEBT, AND TAXATION In arriving at the per capita debt, estimates of pop- ulation based on the average percentage of increase have been used. An inspection of the table shows that the bonded indebtedness remained stationary from 1890 to 1896; then decreased steadily; disappearing altogether in 1904; reappearing in 1910; and increasing to $331,024 in 1912. No special debt obligations appear until 1900; the amount fluctuated until 1910, and disap- peared in 1912. Table 52 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL YEAR ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 SI, 566, 012 $.331,024 $331,024 $1,224,988 $12,116,389 $2,446,248 $9,670,141 $1,656,012 $1.21 191H 1910 1,132,175 1,006,024 206,024 5800,000 126, 151 9,372,187 1,246,841 8,126,346 1,132,175 0.98 19091 1908 1,298,160 1,200,000 1,200,000 98,150 6,172,306 808,466 5,363,840 . 1,298,150 1.26- 19071 1906 1,390,403 1,340,000 1,340,000 50,403 4,610,095 1,007,560 3,602,535 1,390,403 1.54 19051..'. 1904 1,194,362 1,165,000 1,165,000 29,362 3,557,692 1,614,057 2,543,635 1,194,362 1.5i 19031 1902 1,271,391 1,225,000 60,000 1,165,000 46,391 2,506,178 912,074 1,694,104 1,271,391 1.96 19011 1900. . 1,543,919 820, 000 155,000 665,000 723,919 1,710,951 426,001 1,284,950 1,643,919 2.95 1899 1 1898 1,705,969 250,000 260,000 1,455,969 1,209,479 670,479 539,000* 1,706,969 3.50 18971 1896. . . 2,185,039 300,000 300,000 1,886.039 (!) ■ (1) (!) 2,186,039 4.80 18951 1894 1,40-!, 741 300,000 300,000 1,104,741 823,390 275,890 547,600 1,404,741 3.32 18931 1892 886,161 300,000 300,000 586,151 629,368 147,368 382,000 886,151 2.27 18911 1890. 673, 140 300,000 300,000 273, 140 35,738 35,73S 673, 140 1 60 1880 1 ' Not reported. The floating debt fluctuated greatly throughout the period, reaching the maximum amount in 1896; then decreased until 1904, when a steady increase began until the close of the period, when it amounted to $1,224,988. In the funds and investments the cash varied throughout the period, with an increasing tend- ency, while the securities show a steady increase, with the exception of the year 1898. No sinking fund assets are reported. The per capita debt de- creased, due to the large increase in the population. WEST VIRGINIA. This state is hot charged with any specific debt at the time this was written. In the settlement of the Virginia debt one-third was set apart as the share belonging to West Virginia, but the latter refused to assume the same. In March, 1911, the United States Supreme Court held the state liable for a principal debt of $7,182,507 and left the question of interest for adjust- ment between the parties. However, no settlement of the question has been made. School fund. — ^The constitution of the state provides that the school fund of the state shall be derived from the following sources: All moneys accruing to the state from forfeited, delinquent, waste, and unappro- priated lands; all grants, devises, or bequests made to the state for the purpose of education, or in the cases where the purposes are not specified; the state's share of the literary fund of Virginia, and any sums of money, stocks, or property which the state may have the right to claim from the state of Virginia for edu- cational purposes; the proceeds of all escheated estates and those of persons dying without an heir; taxes levied upon the revenues of corporations; moneys paid as an equivalent for exemptions from military duty; and such sums as may be appropriated by the legislature for the purpose. On September 30, 1912, this fund amounted to $1,000,000, and is invested in county, municipal, and school district bonds and in loans, together with a small cash balance of $26,800. According to an act of the legislature of 1901 the prin- cipal of this fund has reached its limit when it equals $1,000,000, and aJl money to the credit of the fund over that sum, together with the interest on said sum, shall be used for the support of the free schools of the state. General and special funds. — ^Under this heading are tabulated the cash balances of two administrative funds — the state fund and the general school fund. Table 53 gives a summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1912, and also the same data for 1880. "TTMIDNAL AND STATE INDEBTEDNESS. 75 Table 63 DEBT. FimOa AND INVESTMENTS. Sinking fund assets. DEBT LESS SDTKINQ FUND ASSETS. FISCAL YEAE ENDiNQ SEPT. 30— Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 »2, 689, 715 2,604,120 2, 417, 137 2,240,919 1,688,167 1,936,349 1,890,632 1,927,518 1,694,017 1,932,844 1,971,948 1, 757, 646 1,657,260 1,641,912 1,719,660 1,435,039 1,404,630 1,365,084 1,205,468 1,065,365 1,034,076 1,043,446 1,071,691 667,610 11,616,615 1,611,620 1,415,337 1,261,419 691,867 935,849 896,632 927, 618 663, 717 942,244 1,263,048 1,108,046 1,134,760 1,119,212 1,062,860 782,639 827,330 883,684 723, 568 669,365 482,605 491,975 451,680 263,799 8973,200 992,600 1,001,800 979,600 996,300 999,600 995,000 1,000,000 1,030,300 990,600 718,900 649,600 622,600 622,700 666,800 662,400 677,200 481,400 481,900 496,000 651,470 651,470 620,011 403,811 1911 1910 1909 1908 1907 1906 1905 1904 1903 1902 1901 1900 1899 1898 1897 1896 1895 ; 1894 J2,383 50,000 100,970 100,970 184,611 127,611 $2,383 50,000 100,970 100,970 184,511 49,000 $2,383 50,000 100,970 100,970 184,511 127,511 $0.06 1893 0.13 0.13 1890 0.24 t78,511 178,611 0.21 ' Less than one-half of 1 cent. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows no debt of any kind in 1912 — the floating debt, the only debt that appears during the period, having all been paid in 1894. In the funds and investments the cash fluctuated through- out the period with an increasing tendency. The securities are also fluctuating, reaching the maximum amount, $1,030,300, in 1904; then gradually decreasing to $973,200 in 1912. No sinking fund assets are reported. The per capita debt varied from $0.24 in 1890 to less than one-half of 1 cent in 1894. WISCONSIN. Funded debt. — On June 30, 1913, the funded debt of Wisconsin consisted of nonnegotiable and nontrans- ferable certificates of indebtedness, amounting in all to $2,251,000, issued to the various educational funds for moneys borrowed for general state purposes and for the redemption of negotiable state bonds held by these funds. Floating debt. — There is no floating debt for Wis- cojisin in 1913. School fund. — The permanent common school fund was derived chiefly from the sale of school lands gra^ted by the United States to aid in the establish- ment of a system of common schools. Besides the proceeds from the sale of such lands, the principal of this fund is composed also of proceeds from the follow- ing sources: Moneys or property accruing to the state by forfeiture or escheat, fines collected for breach of penal laws, a percentage of the proceeds of pubhc lands, and all moneys arising from grants where pur- poses are not specified. In 1912 this fund held an obligation of the state in the form of certificates of indebtedness, amounting to $1,563,700. A cash bal- ance of $64,159 and loans to counties, cities, etc., and real estate mortgages, go to make up the remainder of the principal of this fund, which totals $4,182,406. The interest from these investments together with all other revenues derived from the school lands are apportioned among the various counties for the support and maintenance of the common schools. University fund. — The proceeds from grants of land by the United States to the state for the support of a university go to make up the principal of the univer- sity fund, the interest of which is appropriated to the support of the state university. On June 30, 1913, this fund, Hke the school fund, held state certifi- cates of indebtedness for the amount of the fund diverted to general uses ($111,000). A part of the fund is loaned out to counties, cities, etc., and the remainder consists of real estate mortgages and cash. Agricultural college fund. — This fund is derived from the sales of land granted by Congress for the support of an institution of learning in which the principles of agricultural and mechanical arts should be taught, and the income of this fund is devoted to such a purpose. The principal of the fund amounts to $303,595, of 76 WEALTH, DEBT, AND TAXATION. which $215,523 is loaned to counties, cities, etc., $60,600 has been used by the state, but is secured by certificates of indebtedness, and the remainder is in real estate mortgages and cash. Normal school fund. — This fund consists of one-half of the proceeds from the sales of all swamp and over- flowed lands received by the state from the United States and aU land granted to the state to reimburse it for swamp lands sold by the General Government. The principal of the fund amounts to $1,957,954, and hke the other school funds is invested, aU except a small cash balance, in state certificates, loans to counties, cities, etc., and real estate mortgages. University trust fund. — This fund is derived from bequests, donations, and securities, given to the regents of the university, the income to be expended as stipulated by the donors. The principal amoimts to $142,104, the greater part of which is invested in real estate mortgages and notes. General and special funds. — The purely administra- tive funds, with only cash assets on hand, are aU reported under this heading, as are also several funds tabulated as "private trust funds" in the previous reports. Table 54 gives an annual summary of debt, funds and investments, and sinking fund assets, from 1890 to 1902; a biennial summary of the same items, from 1902 to 1912; and also the same data for 1913 and for 1880. Table 64 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND AS.SKia. FISCAL TEAE ENDING JUNE 30 — Total. Funded. Floating. Total. Cash. Securities. Amoimt. Total. Bonds. d^bt to' public trust funds. Per capita. 1913 J2, 251, 000 2,251,000 $2,251,000 2,251,000 $2,251,000 2,251,000 $8,676,956 9,829,611 $1,924,891 3,161,513 $6,652,065 6,668,098 $2,251,000 2,251,000 $0.93 1912 0.94 19111 1910 2,251,000 2,251,000 2,2si,666 8,064,177 1,569,988 6,504,189 2,261,000 0.96 19091., 1908. 2,251,000 2,251,000 2,251,000 8,141,423 1,728,048 6,413,375 2,251,000 0.98 1907 1 . 1906 2,251,000 2,251,000 2,251,000 7,904,875 1,658,925 6,245,950 2,251,000 1.01 19051.. 1904, 2,251,000 2,251,000 2,261,000 7,106,852 1,014,173 6,092,679 2,251,000 1.03 19031,, 1902 2,278,4.59 2,277,906 2,277,865 2,282,756 2,274,469 2,814,023 2,272,813 2,272,251 2,272,428 2,276,646 2,275,843 2,277,457 2,275,642 2,462,049 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,261,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,252,000 2,261,000 2,251,000 2,261,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,251,000 2,241,000 $27,459 26,905 26,866 31,756 23,459 363,023 21,813 21,251 21,428 25,646 24,843 26,457 24,642 210,049 6,730,327 6,806,657 6,765,876 6,651,549 6,421,043 6,065,812 6,060,432 5,987,628 6,840,239 6,291,936 6,460,332 6,212,947 6,740,694 4,755,691 822,490 950,209 1,232,865 1,175,429 901,639 152,179 356,553 300,751 1,068,938 586,263 805,446 697,162 362,583 588,825 6,907,837 5,856,448 6,633,011 6,476,120 5,519,504 5,913,633 5,703,879 6,686,875 6,781,301 6,725,673 6,664,886 5,516,786 6,378,111 4,166,866 "^ 2,278,469 2,277,905 2,277,865 2,282,766 2,274,459 2,614,023 2,272,813 2,272,251 2,272,428 2,276,646 2,275,843 2,277,457 2,275,542 2,462,049 1.07 1901 1.09 1900, 1.10 1899 1.12 1808.. 1.14 1897 1.33 1896,, 1.18 1895. 1.21 1894 1.23 1893 1.26 1892,.. 1.28 1891. 1.31 1890 1.34 1880. . . .. $11,000 1.87 1 Not reported. In each year the debt and the general classes thereof are' shown. Corresponding data are shown for funds and investments, and for each year indicated , the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows no bonded debt since 1880. The special debt obUgations to pubhc trust funds remained stationary throughout the period. The floating debt fluctuated from year to year, and disap- peared after 1902. In the funds and investments the cash fluctuated with an increasing tendency; the securities steadily increased from $4,166,866 in 1880 to $6,652,065 in 1913. No sinking fund assets are reported. The per capita debt decreased from $1.87 in 1880 to $0.93 in 1913, WYOMINa. Funded debt.— On September 30, 1912, the funded debt of Wyoming amounted to $117,000, and con- sists of insane asylum bonds for $27,000, issued in 1886, and pubhc building bonds of 1888 for $90,000. Floating debt. — The floating debt of 'Wyonung on September 30, 1912, consisted of outstanding warrants to the amount of $5,375. Common school permanent land fund. — ^The foUowiag perpetual funds for school purposes go to make up this fimd: Such per cent of sale of lands as have been or may hereafter be granted by the United States; all moneys arising from the sale or lease of sections 16 and 36 in each township; the net proceeds of lands and other property and effects that may come NATIONAL AND STATE INDEBTEDNESS. 77 to the state by escheat or forfeiture, or imclaimed dividends or distributive shares of the estates of deceased persons; and all moneys, stocks, bonds, land, and other property belonging to the conunon school fund. To these som-ces of revenue must be added all other grants, gifts, and devises that may have been or may hereafter be made to the state. On September 30, 1912, this fund amoimted to $590,952, invested in school district and county bonds, and had a cash balance of $184,142. Agricultural college permanent fund of 1903. — In 1903 the moneys then in the agricultural college land income fund were transferred to what was afterwards known as the "agricultural college permanent fund of 1903." All moneys thereafter arising from the rentals of lands, known as "agricultural college lands," the interest and profits derived from the in- vestment of the " agricultm-al college permanent land fimd," and the interest and profits derived from the investment of the "agricultural coUege permanent fund of 1903" are to be appropriated for the support and maintenance of the agricultural college. The agricultural college permanent fund of 1903 on Sep- tember 30, 1912, amounted to $20,364, including cash to the extent of $364, the remainder being invested in municipal bonds. The agricultural college perma- nent land fund, which is derived from the sale of lands, amoimts to $9,797— invested in county, munici- pal, and school district bonds — and includes a cash balance of $4,297. Permanent land funds. — The various funds included under this heading, such as university permanent land fund, deaf, dumb, and bhnd asylum permanent land fimd, and others, are derived from the proceeds of sale of lands and are devoted to the various pur- poses for which estabhshed. General and special funds. — ^The state has a large number of general and special administrative funds, which are tabulated under this heading. Included also are the trust funds ($188,023) and the various land income funds, which are derived from the rentals of leased lands, set apart for the benefit of the com- mon school, imiversity, etc. On September 30, 1912, the cash balance in this fund amoimted to $618,893. Table 55 gives an annual summary of the debt, funds and investments, and sinking fund assets, from 1890 to 1902 ; the report then becomes biennial, clos- ing with the year 1912; and the same data are also given for 1880. No report is made for the year 1899, and only the bonded indebtedness for 1890 is shown. Table 55 DEBT. FUNDS AND INVESTMENTS. Sinking fund assets. DEBT LESS SINKING FUND ASSETS. FISCAL TEAK ENDING Total. Funded. Floating. Total. Cash. Securities. Amount. Total. Bonds. Special debt to public trust funds. Per capita. 1912 $122,375 $117,000 $117,000 $5,375 $1,373,251 $818,439 $554,812 $122,375 $0.77 19111 1910 170,631 140,000 140,000 30,631 855,638 382,473 473,165 170,631 1.16 1908 208,236 182,000 182,000 26,236 654,130 353,419 300,711 208,236 1.53 19071 1906 221,323 220,000 220,000 1,333 442,380 224,672 217, 708 221,323 1.76 19051 268,473 260,000 260,000 8,473 371,428 223,288 148,140 268, 473 2.34 19031 1902 - ... 300,530 320,000 321,152 300,000 320, 000 320,000 300,000 320,000 320,000 530 309,848 « 192,725 253,038 171,685 56,810 (') 21,040 300,530 320,000 321,152 2.90 1901 3.25 1900 1,152 3.45 325,128 344,061 327,930 322,445 326, 127 328,837 330,306 326, 428 320,000 17,000 320,000 S2O,000 320, 000 320,000 320,000 320,000 320,000 320,000 320,000 17,000 320,000 5,128 24,061 7,930 2,445 6,127 8,837 10,306 6,428 103,786 137,122 109,559 112,077 148,335 107,372 115,950 54,008 (■) 103,786 137,122 109,559 112,077 148,335 107,372 115,950 54,008 325,128 344,061 327,930 322,445 326,127 328,837 330,306 326,428 320,000 17,000 3.75 320,000 320,000 •320,000 320,000 320,000 320,000 320,000 320,000 17,000 4.11 1896 4.06 4.14 4.36 1893 4.58 1892 4.80 4.96 1890 (') 5.12 1880 0.82 il 1 1 Not reported. In each year the total debt and the general classes thereof are shown. Corresponding data are shown for funds and investments, and for each year indicated the total and per capita debt less sinking fund assets are included in the table. In arriving at the per capita debt, estimates of population based on the average percentage of increase have been used. An inspection of the table shows that the bonded indebtedness remained stationary until 1901, then de- creased steadily, amoimting in 1912 to only $117,000. No special debt obligations to public trust funds are reported during the period. The floating debt fluctu- ated greatly, showing a sHghtly smaller amount at the close than at the beginning of the period. In the funds and investments the cash increased steadily. No securities were reported until 1900, after which date a steady advance is shown until 1912. No sinking fund assets are given; the per capita debt, however, decreased steadily owing to the increase in population. GENERAL TABLE (79) 80 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of ALABAMA. 14 CHAEACTEK AND PUBPOSE OF ISSUE. Total . Funded debt . Bonds: Refunding (class A) Refunding railroad aid bonds (class B) Refunding railroad aid bonds (class C) Funding Refunding (class A) Refunding railroad aid bonds (class C) Special debt obligations to public trust funds; Sixteenth section fund Surplus revenue fund University fund Agricultural and mechanical college fund.. School indemnity land fund Floating debt . Warrants Temporary loan . Year of issue. 1876 1876 1876 1887 1906 1906 Year of ma- turity. 1906 1905 1906 1920 1956 1956 Bate of in- terest. 2 to 5 5 2 to 4 4 4 3.5 6 4 O AMOUNT OUTSTANDING — Sept. 30, 1893. $12,503,584 12,501,350 6,798,400 678,000 963,000 954,000 1,985,363 669, 087 300, 000 253,500 2,234 2,234 Sept. 30, 1894. $12,538,139 12,514,331 1,804,400 578,000 963,000 954,000 1,991,770 669,087 300,000 253,500 574 23,808 Sept. 30, 1895. 112, .580, 279 12,673,084 6,859,600 578, 000 963,000 954,000 1,995,323 669, 087 300, 000 253,500 574 Sept. 30, 1896. $12,688,075 12,579,102 6,859,600 578,000 966,000 954,000 1,998,341 669,087 300,000 253,600 674 8,973 8,973 Sept. 30, 1897. $12,601,353 12,592,104 6,859,600 6'8.000 966,000 954, 000 2,007,093 669,087 300,000 253,500 4,824 9,249 9,249 Sept. 30, $12,608,946 12,595,479 6,859,600 678,000 966,000 954,000 2,010,228 669, 087 300,000 253,600 6,064 13,467 13,467 Sept. 30, 1899. $12,631,048 12,621,408 6,859,600 578, Ouu 966,000 954,000 2,018,101 669,087 300,000 253,500 23,120 9,640 9,640 B — Detailed Exhibit of General Treasury Cash and the Assets op FTTNC AND CHABACTEE OF INVESTMENT. CASH AND SECUKITIES 3N HAND— Sept. 30, 1893. Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1896. Sept. 30, 1897. • Sept. 30, 1898. Sept. 30, 1899. 1 Total $3,287,207 $3,258,556 $3,236,851 $3,279,821 $3,276,484 $3,313,122 $3,434,838 % 1,985,363 1, 991, 770 1,995,323 1,998,341 2,007,093 2,010,228 2,018,101 Special debt obligations to public trust funds ? 1,985,363 669,087 1,991,770 669,087 1,995,323 669,087 1,998,341 669,087 2,007,093 669,087 2,010,228 669,087 2,018,101 669,087 4 Special debt obligations to public trust funds . . ^i^"fcftl'>"li'*g*^fn"d. . Special debt obligations to public trust funds n 253,600 79,257 263,500 43,625 263,500 18,367 253,500 58,319 263,600 40,980 263,600 75,243 263,600 171,030 19 Csish n 79,257 3,287,207 43,625 3,258,556 18,367 3,236,851 58,319 3,279,821 40,980 3,275,484 75,243 3,313,122 171,030 3,434,838 1-1 Ti 3,207,950 79,257 3,214,931 43,626 3,218,484 18,367 3,221,502 58,319 3,234,504 40,980 3,237,879 75,243 3,263,808 m,030 16 Cash ' Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913. Alabama: Septembek 30, 1893, to September 30, 1912. 81 AI.ABAMA. AMOUNT ouTSTANDiKQ — Continued. Sept. 30, 1900. Sept. 30, 1901. ^a.^"' Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1905. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $12,063,331 $12,711,464 112,629,478 $12,771,100 $12,791,450 $12,808,906 $12,525,856 $12,549,203 $12,565,388 $12,584,937 $12,619,715 $12,649,076 $13,132,375 1 12,646,705 12,698,592 12,610,469 12, 762, 159 12,781,486 12,795,309 12,513,983 12,624,044 12,639,634 12,553,784 12,556,982 12,670,631 12,644,097 2 8,859,600 6''8,000 966,000 954,000 6,859,600 578,000 966,000 954,000 6,859,600 678,000 966,000 954,000 6,869,600 678,000 966,000 954,000 6,859,600 578,000 966,000 954,000 6,859,600 678,000 966,000 954,000 3 4 a 964,000 7,137,000 966,000 1,971,362 669,087 450,000 253, oOO 113,034 11,873 954,000 7,137,000 966,000 1,973,234 669,087 450,000 263.600 121,223 26,169 954,000 7,137,000 966,000 1,976,779 669,087 450,000 253,500 133,268 25,764 954,000 7,137,000 966,000 1,980,696 669,087 450,000- 253,500 143,601 31,153 954,000 7,137,000 966,000 1,983,794 669,087 450,000 263.600 143,601 62, 733 964,000 7,137,000 966,000 1,996,243 669,087 450,000 263,600 144,801 78,445 954,000- 7,137,000 966,000 2,053,209 ' 669,087 450,000 253,500 161,301 488,278 6 7 8 2,025,472 669,087 300,000 253, 500 41,046 16,626 2,033,303 669,087 300,000 263,500 85,102 12,862 2 1,943,651 669,087 300,000 263,000 86,621 19,019 1,961,601 669,087 443, 750 263,600 86,621 8,941 1,959,435 669, 087 450,000 253,500 91,864 9,984 1,969,623 669,087 450,000 263,500 105, »99 13,697 9 10 11 12 13 14 16,626 12,862 19,019 8,941 9,964 13,597 11,873 25,159 26,754 31, 163 62,733 78,445 388,278 100,000 15 16 Productive Funds op Alabama: September 30, 1893, to September 30, 1912. CASH AND SECURITIES ON HAND — Continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1905.- Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $3,926,498 $3,842,351 $3,982,211 $4,398,616 $4,615,510 $4,852,839 $5,283,309 $5,286,781 $4,843,468 $4,208,809 $3,933,454 $3,620,702 $3,849,149 1 2,026,472 2,033,303 2 1,943,651 1,951,601 1,959,435 1,959,623 1,971,362 1,973,234 1,976,779 1,980,596 1,983,794 1,996,243 2,053,209 2 2,025,472 669,087 2,033,303 669,087 1,943,661 669,087 1,951,601 669,087 1,959,436 669,087 1,959,623 669,087 1,971,362 669,087 1,973,234 669,087 1,976,779 669,087 1,980,596 669,087 1,983,794 669,087 1,996,243 669,087 2,053,209 669,087 3 4 669,087 41,046 669,087 85,102 669,087 86,621 669,087 86,621 669,087 91,864 669,087 105,499 669,087 113,034 669,087 121,223 669,087 133,268 669,087 1«,601 669,087 143,601 669,087 144,801 669,087 161,301 5 6 41,046 300,000 86,102 300,000 86,621 300,000 86,621 443,750 91,864 450,000 105,499 450,000 113,034 460,000 121,223 450,000 133,268 450,000 143,601 460,000 143,601 450,000 144,801 460,000 161,301 460,000 7 8 300,000 253,500 300,000 253,600 300,000 253,500 443,750 253,600 450,000 253,500 450,000 253,600 460,000 253,500 450,000 253,500 450,000 253,500 460,000 253,500 450,000 263,600 460,000 263,600 450,000 253,500 9 10 253,600 637,393 263,500 601,359 253,500 729,352 263,500 994,057 263,500 1,191,624 253,600 1,415,130 253,600 1,826,326 263,500 1,819,737 253,500 1,360,834 263,500 712,025 253,500 433,472 263,500 7, on 253,500 262,052 U 12 637,393 3,926,498 601,369 3,842,351 729,352 3,982,211 994,057 4,398,616 1,191,624 4,615,510 1,416,130 4,852,839 1,826,326 5,283,309 1,819,737 6,286,781 1,360,834 4,843,468 712,026 4,208,809 433,472 3,933,454 7,071 3,520,702 262,052 3,849,149 13 14 3,289,105 637,393 3,340,992 501,369 3,252,869 729,352 3,404,659 994,057 3,423,886 1,191,624 3, 437, 709 1,416,130 3,456,983 1,826,326 3,467,044 1, 819, 737 3,482,634 1,360,834 3,496,784 712,026 3,499,982 433,472 3,513,631 7,071 3,687,097 262,052 15 16 2 Does not include valueless sixteenth section laud, from 1902 to 1912, inclusive, reported from 1893 to 1901. 28652°— 14 6 82 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness of ARIZONA. CHARACTER AND PURPOSE OF ISSUE. Yeai oJ issue. Year of ma- turity. Kate of in- terest. AMOXTNT OUTSTANDING — June 30, 1894. June 30, 1895.1 June 30, 1896. June 30, 1897.1 June 30, 1898. June 30, 1899.1 June 30, 1900. 1 Total $2,206,524 12,340,616 »2, 935, 113 S2, 761, 711 Funded debt ? ■2,036,000 2,121,000 2,680,000 2,637,000 Bonds: 1879 1880 1879 1879 1879 1879 1881 1885 1885 1885 1887 1888 1892 1892 1896 1898 1903 1903 1904 1903 1905 1905 1905 1906 1913 1894 1895 1894 1894 1894 1894 1894 1905 1900 1900 1907 1913 1912 1942 1946 1948 1953 1963 1922 1923 1954 1964 1925 1956 1938 10 10 10 10 10 10 10 7 8 8 7 6 6 5 5 5 3 5 5 5 5 5 5 4 4.5 3 15,000 15,000 20,000 10,000 10,000 10,000 10,000 100,000 12,000 15,000 25,000 150,000 30,000 1,614,000 4 «, Gillette and Tiger Mine wagon road Florence and Globe City wagon road 6 7 R Agua Fria and Camp Verde wagon road 10,000 100, 000 12,000 15,000 22,000 150, 000 30,000 1,760,000 22,000 in TnsfiTip ftfiylnm 90,000 12,000 15,000 14,000 150,000 30,000 2,000,000 269,000 100, 000 60,000 n 1? Gila bridge.. . . 13 7,000 140,000 30,000 2,000,000 300,000 100,000 14 15 World' s'Fair 16 17 IS Capitol building 19 ?n ■B'nnflinc o^lTnty dp-bt ■"I 1 ?■> ■"I 1 ?4 1 '5 ?fi ?7 ■?« 170,524 219, 616 255,113 124,711 •M 170,524 219,616 255,113 124,711 B — Detailed Exhibit op General Treasttry Cash and the Assets op FUND AND CHARACTEE OF INTESTMENT. CASH AND SECUEITIES ON HAND— June 30, 1894.1 June 30, 1895.1 June 30, 1896. June 30, 1897.1 June 30, 1898. June 30, 1899.1 June 30, 1900. 1 Total 879,830 i351,140 $96,300 ? 171 1,085 Cash 3 ■ 171 350,969 1,085 95,215 4 (^eTi'Tftl f^Tid Rppnial fnnHl 79,830 Cash i; 79,830 79,830 350,969 351,140 95,215 96,300 fi Total Cash 7 79,830 351,140 96,300 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OP STATES: 1893 TO 1913— Continued. Arizona: June 30, 1894, to June 30, 1913. ARIZONA. 83 AMOTJNT ouTSTANDiNG^-continued. Tune 30, 1901.1 June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905.1 June 30, 1906.1 June 30, 1907.1 June 30, 1908. June 30, 1909.1 June 30, 1910.1 June 30, 1911.1 June 30, 1912. June 30, 1913. 32,729,839 $3,096,597 $3,058,422 $3,117,126 $3,087,262 $3,594,371 1 2,610,000 3,008,000 3,055,275 3,113,275 3,045,276 3,528,275 2 3 4 .1 6 7 S 9 40,666 30,000 20,000 10 H n 13 140,000 30,000 2,000,000 300,000 100,000 140,000 30,000 2,000,000 300,000 100,000 318,000 65,000 25,000 140,000 30,000 2,000,000 300,000 100,000 318, 275 92,000 26,000 30,000 68,000 30,000 2,000,000 300,000 100,000 318,275 92,000 25,000 30,000 94,000 20,000 11,000 25,000 14 30,000 2,000,000 300,000 100,000 318,275 92,000 25,000 30,000 94,000 20,000 11,000 25,000 15 519,000 300,000 100,000 318,275 92,000 25,000 30,000 94,000 20,000 11,000 25,000 1,994,000 66,096 16 17 IS 19 ?fl 21 22 23 24 25 26 27 119,839 88,597 3,147 3,851 41,987 ?S 119,839 88,597 3,147 3,861 41,987 66,096 29 Productive Funds of Arizona: June 30, 1894, to June 30, 1913. CASH AND SECUEITIES ON HAND— Continued. June 30, 1901.1 June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905.1 June 30, 1906. June 30, 1907. June 30, 1908. June 30, 1909.1 June 30, 1910.1 June 30, 1911. June 30, 1912. June 30, 1913. $143,954 $177,763 $189,294 $273,838 $365,016 $436,325 $519,960 $411,442 $1,034,083 3,486 1,009 1,113 2,134 547 8,368 24,842 34,842 529,553 3,486 140,468 1,009 176,754 1,113 188,181 2,134 271,704 547 364,469 8,368 427,957 24,842 495, 108 34,842 376,600 529,563 504,530 140,468 143,954 176,754 177,763 188,181 189,294 271,704 273,838 364,469 365,016 427,967 436,325 495,108 519,960 376,600 411,442 504,630 1,034,083 143,954 177,763 189,294 273,838 365,016 436,325 619,950 411,442 1,034,083 84 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness op ABKAXSAS. CHAEACTEK AND P0KPOSE OF ISSUE. Year of issue Yeai of mar turity. Bate of in terest AMOUNT OUTSTANBINQ — Sept. 30, 1893.1 Sept. 30, 1894. Sept. 30, 1895.1 Sept. 30, 1896. Sept. 30, 1897.1 Sept. 30, 1898. Sept. 30, 1899.1 1 Total $4,671,826 $4,017,008 $1,566,129 •> Funded debt 1,806,000 1,576,000 882,000 Bonds: 1836 1837 1837 1837 1869 1869 1875 1899 1887 1867 1867 1867 1899 1900 1905 1929 5 6 6 6 6 6 6 3 ■\ 3,000 108,000 530,000 43,000 238,000 377,000 506,000 3,000 44,000 600,000 5,000 144,000 374,000 606,000 6,000 6 Real estate bank ("C " bonds) 6,000 111,000 254,000 606,000 7 Funding 8 ^ in 11 2,866,825 2,441,008 684,129 I' 51,096 2,815,729 649 2,440,459 649 683,680 13 Matured interest on state bonds. B — Detailed Exhibit of General Tkeasurt Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND — Sept. 30, 1893.1 Sept. 30, 1894. Sept. 30, 1895.1 Sept. 30, 1896. Sept. 30, 1897.1 Sept. 30, 1898. Sept. 30, 1899.1 ] Total $1,395,368 $1,540,933 $1,619,980 PiTiVing fiiTid •> 7,747 74,679 16,464 Cash ^ 7,747 399,638 74,679 436,523 16,454 470,439 4 ArVaTlRfls hondfi ■i 273,000 125,175 1,463 509,218 273,000 167,936 4,588 695,968 276,000 193,785 1,654 684,608 f, Matnfp.(1 intflrpst nn ArlfflTisjw hnnds 7 Cash % Arkansas bonds 307,000 196,876 6,343 307,000 233,715 55,253 338,000 318,450 28,158 10 Matured interest on Arkansas bonds !•> n 11 i^t Cash t ifi 478,765 434,763 448,479 17 61,096 17,536 410,133 1,395,368 649 10,793 423,431 1,640,933 549 7,248 440,682 1,619,980 18 County and TnUTii^'ipnl snrip . 19 Cash •fl Total . Arkansas bonds. ... ''1 580,000 61,096 322,050 17,636 580,000 649 391,650 10,793 613,000 549 612,235 7,248 '>'? Arkansas scrip and certificates of indebtedness . . ''1 Matured interest on Arkansas bonds ■"i 424,686 557,941 486,948 1 Not reported. 2 Reported as debt prior to 1902; not so reported in later years. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Arkansas: September 30, 1893, to September 30, 1912. arkansas. 85 AMOUNT OUTSTANDING — Continued. Sept. 30, 1900. Sept. 30, 1901.' Sept. 30, 1902. Sept. 30, 1903.1 Sept.30, ^&f' Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30, 1912. $1,329,549 $1,256,962 $1,271,962 51,271,550 31,260,500 $1,250,500 $1,250,600 1 1,329,000 1,256,000 1,271,000 1,271,000 1,250,500 1,250,600 1,250,500 ?. ii 4 5 6 58,000 7 8 q 1,271,000 549 1,256,000 962 1,271,000 962 1,271,000 560 1,250,500 1,250,500 1,250,500 in 11 549 962 962 550 P) n m m m 13 Productive Funds of Arkansas: September 30, 1893, to September 30, 1912. CASH AND SECUBITIES ON HAND— Continued. Sept. 30, 1900. Sept. 30, 1901.1 Sept. 30, Sept. 30, 1903.1 Sept. 30, 1904. Sept. 30, 1905.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30, 1912. $1,585,472 $2,241,003 $2,418,713 $2,262,726 $2,308,974 $1,887,319 $2,052,249 7,306 65,680 105,314 164,906 164,311 91,827 14,434 7,306 1,118,709 65, .580 1,127,373 105,314 1,130,361 164,906 1,134,508 164,311 1,135,465 91,827 1,135,481 14, 434 1,136,464 t ^ 1,113,500 5,209 1,118,500 8,873 1, 123, 500 6,861 1, 134, 500 « 8 1,134,500 « 966 1,134,500 «981 1,134,600 P) 1,964 r, s 10 ' 133,272 125,200 125,194 125, 194 125,194 125,194 102,500 9,000 21,772 914,778 115, 000 9,000 1,200 1, 057, 838 116, 000 9,000 194 838,118 116,000 116,000 116,000 1? 11 9,194 884,004 9,194 634,817 9,191 776, 157 11^ 459,457 16 649 7,466 451,452 1,585,472 962 962 550 17 913, 816 2,241,003 1,056,876 2,418,713 837.568 2,262,726 884,004 2,308,974 534. 817 1,887,319 776, 157 2,052,249 20 1,113,500 549 1,221,000 962 1,238,600 962 1,260,500 550 1,250,500 1,250,500 1,250,500 OJ 7,456 • 1 9,000 1,010,041 9,000 1,170,251 9,000 1,002,676 463,967 1,058,474 636,819 801,749 •>!■ 8 Reported as assets prior to 1902; not so reported in later years. 86 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENEKAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness or CAIjIFORNIA. CHABACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING — June 30, 1894. June 30, 1895.1 June 30, 1896. June 30, 1897.1 June 30, 1898. June 30, 1899.1 June 30, 1900. 1 Total $2,516,471 $3,345,512 $3,132,064 $3,169,764 •>, Funded debt 2,362,250 2,962,260 2,961,250 2,961,250 Bonds: Funding 1857-60 1873 1891 1906 1911 1911 1881 2 1893 1912 1914-24 1950-85 1917-26 Option. Ceased. 6 4 4 4 4 6 3 5,000 2,277,500 6,000 2,277,600 600,000 4,000 2,277,600 600,000 4,000 2,277,600 600,000 4 « Harbor improyement and ferry at San Fran- eisco. Rfl.Ti PmTinisnn sflfl. wall bnndq. fi 7 Ran Fra,nniRnn TTarhnr imprnvfiTTiRTit 8 q Special debt obligations to public trust funds: TTnivfirsity fnnfi 79,750 164,221 79,760 383,262 79,750 170,814 79,750 198,514 10 Floating debt Warrants. 11 138,425 15, 796 367,213 16,049 151,687 19,127 178,699 19,815 1? B — Detailed Exhibit oe General Treasury Cash and the Assets or FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND— June 30, 1894. June 30, 1896.1 June 30, 1896. June 30, 1897.1 June 30, 1898. June 30, 1899.1 June 30, 1900. 1 Total 57,549,662 $9,990,206 8,988,134 9,903,430 211,482 329,307 406,399 315,679 s 120,000 170,000 210,000 4 California bonds . t^ r.Oiinty ftTiH mnnip.ipal hoTidf? 6 211,482 3,870,317 209,307 3,953,200 236,399 4,045,966 105,679 4,362,458 7 California bonds H 1,526,600 2,306,900 1,526,500 2,262,300 1,726,600 2,109,200 1,726,600 2,052,200 \\ School (listrict bonds . Cash 36,917 1,017,260 164,400 938,642 210,266 890,663 573,758 869,750 11 University fund 761,000 79,760 186,600 761,000 79,750 106,600 2,392 751,000 79,750 47,600 12,413 751,000 79,760 29,000 Ifi Special debt obligations to public trust funds IS Cash Cash Of) 21 James Saultry relief fund 20,000 20,000 20,000 20,000 oo 20,000 16,796 20,000 16,049 20,000 19,127 20,000 19,815 23 Dissolved savings banlc fund Oj County bonds . . 13,000 2,796 13,000 3,049 13,000 6,127 13,000 6,815 2R School land deposit fund 17 Cash 28 General and special funds 2,414,817 4,733,008 3,606,979 4,335,828 2,414,817 7,649,662 4,733,008 9,990,206 3,605,979 8,988,134 4,335,828 9,903,4"0 30 Total 2,277,600 79,760 2,277,600 79, 760 120,000 2,400,800 2,477,500 79,750 170, 000 2,189,700 2,477,500 79,760 210,000 2,114,200 Special debt obligations to pubi'o tni^t fnnrtti ^3 United States bonds Id 2,626,400 ?6 Bonds owned by estates of deceased persons J7 Cash 2,666,012 5,112,156 4,071,184 6,021,980 1 Not reported. 3 Held by " state school fund." NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OP STATES: 1893 TO 1913— Continued. California: June 30, 1894, to June 30, 1913. california. 87 AMOUNT OUTSTANDING— continued. June 30, 1901.1 June 30, 1902. June 30, 1903.1 June 30, 1904. June 30, 1905.1 June 30, 1906. June 30, 1907.1 June 30, 1908. June 30, 1909.1 June 30, 1910. June 30, 1911.1 June 30, 1912. Tone 30, 1913. $3; 174, 458 $3,493,700 $3,535,464 $3, 853, 128 15,791,405 $6,643,984 $11,091,058, 1 2,961,250 2,961,260 3,211,250 3,211,250 4,961,250 6, 761, 250 10,178,750 1 4,000 2, 277, 500 600,000 4,000 2,277,500 600,000 4,000 2,277,600 600,000 250,000 4,000 2,277,600 600,000 250,000 4,000 2, 277, 600 600,000 2,000,000 4,000 2,277,600 4,000 2,277,500 3 4 ^ 2,000,000 1,000,000 400,000 79,760 882,734 2,000,000 1,868,000 3,959,000 79,750 912,808 6 7 1 79,750 213,208 79,750 532,450 79,750 324,214 79,750 641,878 79,750 830,155 9 in 168, 581 44,627 329,645 202,805 113, 629 210, 685 398,834 243,044 303, 070 527,085 387, 019 495, 715 388,222 624,586 11 1? Productive Funds of California: June 30, 1894, to June 30, 1913. CASH AND SECUBITIES ON HAND— continued. June 30, 1901.1 June 30, 1902. June 30, 1903.1 June 30, 1904. June 30, 1906.1 June 30, 1906. June 30, 1907.1 June 30, 1908. Jime30, 1909.1 June 30, 1910. June 30, 1911.1 June 30, 1912. June 30, 1913. $9,868,620 $10, 463, 247 $12,433,778 $14,004,456 $15,501,095 $18,140,209 $21,054,915 1 370,289 436,209 640,789 693, 271 898, 221 650, 500 868,314 ? 260,000 335,000 335,000 464,600 613,000 8 11,000 487, 950 151, 560 7,431,967 12,000 631,450 224,864 7,669,745 4 30,000 98,771 6,194,566 204, 900 180,321 6,932,700 5 110, 289 4,633,678 101,209 5,130,958 206,789 5,285,073 5 7 1, 726, 500 1,800,700 1, 726, 500 1,636,000 932,250 1, 726, 500 1, 602, 700 963,300 644,500 1, 726, 500 1,241,800 1,438,775 945,000 1, 726, 500 889,000 2, 121, 225 1, 695, 500 269,000 231,475 830,750 1,626,500 661,000 2, 310, 225 1,964,750 311,600 667,992 830,760 1,626,500 570,500 2,905,676 2,053,000 328,000 86,070 830,750 S q 10 11 n 1, 106, 478 853,780 836,208 830,750 648,073 831,840 842,481 830,750 13 14 751, 000 79,760 23,000 30 751,000 79,760 751, 000 79,750 1,000 90 91,881 751,000 79,750 751,000 79,750 751,000 79,750 761,000 79,750 16 16 17 18 67,720 111,222 818,008 » 35, 748 3 47,939 14 ' " * 67,720 8,000 91,881 8,000 111,222 8,000 18,008 4,000 35,748 47,939 fn 20, 000 ?i 20,000 44,627 8,000 44,692 8,000 45,064 8,000 46, 182 4,000 46,277 ?' 50,067 51,607 23 13,000 31,627 13,000 31,692 90,393 13,000 32,064 73,740 13,000 33, 182 85,640 46,000 277 93,800 33,000 17, 067 58,400 39,000 12,607 97,040 ?4 ■"i 26 90,393 3,854,525 73,740 5,657,391 86,640 6,134,836 93,800 6,677,339 98,400 9,042,777 97,040 11,689,520 ■T 3,946,246 28 3, 946, 246 9,868,620 3, 854, 525 10,463,247 5,567,391 12,433,778 6, 134, 836 14,004,456 6,677,339 15, 501, 095 9,042,777 18,140,209 11,589,520 21,054,915 ?9 30 2,477,500 79, 750 260,000 1, 856, 700 2,477,500 79,760 336,000 2,589,250 2,477,500 79, 750 336,000 2,488,000 644,600 2,477,500 79,760 464, 500 2,731,675 945, 000 2,477,600 79,750 613, 000 3,266,125 1,695,500 269,000 7, 201, 220 2,388,600 79, 750 2,389,500 79, 750 32 ^? 3,492,175 1, 964, 750 311, 500 9,903,634 4,146,625 2,063,000 328,000 12,068,040 34 36 5, 194, 670 4, 981, 747 6, 509, 028 7,306,131 > Securities of this fund used for benefit of school fund. 88 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness op COLOBADO. CHABACTEB AND PURPOSE OF ISSITE. Year of issue. Year of ma- turity. Rate of in- terest. AMOtJNT OUTSTANDING— Nov. 30, 1893.1 Nov. 30, 1894. Nov. 30, 1895." Nov. 30, 1896. Nov. 30, 1897.1 Nov. 30, 1898. Nov. 30, 1899.1 1 Totals $3,088,289 $3,157,509 $3,577,943 "> Funded debt 600,000 770,500 993,500 Bonds: CaDitol buildine 1883 1891 1895 1895 1897 1909 1905 1906 1910 1910 1922 1929 3.5 4 4 4 4 3 26,311 1,221,457 164,953 1,254,717 443,761 1,384,330 337,927 1,433,059 108,634 1,601,908 60,100 2,048,293 2,713,233 4 5 300,000 649,742 271,715 46,669 300,000 858,761 95,956 46,669 300,000 1,021,036 63,294 48,269 468,950 1,221,934 357,409 28,323 645,300 1,501,615 566,318 31,678 1,276,916 156,143 48,297 1,225,976 375,932 49,282 7 8 9 10 29,984 16,685 84,554 37,501 9,168 90,145 48,214 55 112,166 47,490 807 130,856 39,357 9,925 138,314 27,764 559 150,864 27,764 3,914 170,665 n 25,493 59,061 61,667 66,743 23,402 70,841 85,809 26,357 57,947 99,329 31,527 69, 145 61,741 76,573 43,887 64,749 86, 115 2,547 168, 118 309, 644 T> n 100,994 11 47, 451 14,216 68,043 40,965 29,876 49, 437 28,626 29,321 53,999 28,626 40,519 12, 184 28,626 15,261 19,332 28,626 72,368 35,428 28,626 281,018 143,553 Ti 16 17 22,545 45,498 373,085 33,097 16,340 410,233 33,871 20,128 416,229 286 11,898 782,603 286 19,046 858,912 286 35, 142 896,319 286 143,267 881,241 19 19 •'0 373,065 1,881,766 410,233 2,086,995 415,229 2, 515, 701 782,603 2,814,071 858,912 2,820,269 895,319 3,309,321 881,241 4,250,014 ''1 22 300,000 775,215 806,551 300,000 1,037,067 749,928 300,000 1,217,556 998, 145 468,950 1,343,359 1,497,012 645,300 1,560,838 2,043,876 0^ 1, 452, 647 1,361,424 1,355,986 1,464,283 91 ■"> * Reported as debt prior to 1901; not so reported in later years. 90 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness op CONNBCTTCUT • CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUT3TANDING — Sept. 30, 1893: Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1896. Sept. 30, 1897. Sept. 30, 1898. Sept. 30, 1899. 1 Total $3,256,616 $3,256,585 $3,256,617 $3,256,606 $3,261,665 $3,263,440 $3,265,064 2 Funded debt 3,240,200 3,240,200 3,240,200 3,240,200 3,240,200 3,240,100 3,240,100 3 Bonds: RpfimrliTig war Hoht, 1865 1882 1883 1886 1909 1912 1885 1903 1903 1910 1934 1936 Ceased. 3.5 3.5 3 3.5 4 200 600,000 1,000,000 1,740,000 200 500,000 1,000,000 1,740,000 200 500,000 1,000,000 1,740,000 200 500,000 1,000,000 1,740,000 200 500,000 1,000,000 1,740,000 100 600,000 1,000,000 1,740,000 100 500,000 1,000,000 1,740,000 4 5 ■Rp.fiinrling war rJpiM fi Tlefuudnig war debt . 7 e 9 Floating debt 16,416 16,386 16,417 16,406 21,465 23,340 24,964 in 16,416 16,385 16,417 16,406 21,465 23,340 24,964 11 B — Detailed Exhibit op General Treasury Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AND SEOUEITIES ON HAND— Sept. 30, 1893. Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1896. '%f- Sept. 30, 1898. Sept. 30, 1899. 1 Total $3,123,032 $3,038,115 $2,842,020 $2,692,990 $2,789,438 $2,979,858 2,014,449 2,011,769 2,013,102 2,008,049 2,014,681 2,018,828 3 167,148 1,731,571 107,222 8,508 154,000 167,148 1,701,390 113,044 30,187 174,225 167,148 1,648,306 134,486 63,162 195,325 167, 148 1,670,001 163,174 7,726 175,325 123,013 1,655,306 197,419 38,943 199,000 115,213 1,670,628 172,763 60,234 160,000 4 f\ Cash ... « 19,000 116,000 19,000 102,100 19,000 93,100 19,000 93,100 q 132,960 129,000 3,500 27,500 24,964 10 n Cash 19,000 16,416 53,125 16,385 83,22.5 16,417 63,225 16,406 66,050 23,340 ■\o 16,416 938,167 16,385 836,736 16,417 617,176 16,406 393, 210 23,340 652,417 24,964 776,066 Cash 938,167 3,123,032 835,736 3,038,115 617,176 2,842,020 393,210 2,692,990 552,417 2,789,438 776,066 2,979,858 16 Total 19,000 167,148 1,847,571 107,222 982,091 19,000 167, 148 1,803,490 113,044 935,433 19,000 167,148 1,741,406 134,486 779,980 19,000 167,148 1,763,101 163,174 480,667 1' 123,013 1,788,256 197,419 680,750 115,213 1,799,628 176,253 888,764 OJ Cash - • • ' Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Connecticut: September 30, 1893, to September 30, 1912. connecticut. 91 AMOUNT OUTSTANDING — Continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1905. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. 83,161,155 12,157,708 $1,679,789 $1,093,189 $969,074 S95S, 293 81,013,482 $904,269 $924,053 $2,122,165 $4,349,786 S4, 257, 087 $7,110,451 1 3,140,100 2,131,100 1,663,100 1,077,100 952, 100 942, 100 882,100 876,100 874, 100 1,874,100 2,894,100 3,064,100 7, 064, 100 2 100 500,000 1,000,000 1,640,000 100 495,000 100 335,000 100 100 100 100 100 100 100 100 100 100 3 4 fi 1,636,000 1,328,000 1,077,000 952,000 942,000 882,000 876,000 874,000 874,000 1,000,000 874,000 2,020,000 6 3,064,000 3,064,000 4,000,000 46,351 7 s 21,055 26,608 16,689 16,089 16,974 16,193 131,382 28,169 49,953 248,055 1,455,686 1,192,987 9 21,055 26,608 14,064 2,625 13,982 2,127 13,854 3,120 14,201 1,992 118,864 12,518 15,665 12,504 14,387 35,566 14, .336 33, 719 200,000 17,049 23,637 1,415,000 18,327 24,660 1,150,000 18,236 28,115 10 19 Productive Funds op Connecticut: September 30, 1893, to September 30, 1912. CASH AND SECURITIES ON HAND — Continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1906. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. S3, 321, 611 $2,551,655 $2,826,507 $2,755,619 $2,859,738 $2,731,508 $2,840,830 $3,261,631 $2,452,522 $2,323,684 $3,424,378 $2,640,594 $4,446,270 1 2,018,641 2,019,304 2,020,733 2,022,178 2,023,627 2,022,602 2,022,674 2,022,764 2,024,560 2,024,407 2,012,881 2,011,511 2,008,965 2 115,213 1, 733, 266 160,390 9,772 160,000 115,213 1,744,078 135,317 24,696 7,850 115, 213 1,721,863 176,334 7,323 135,000 115,213 1,725,144 176,916 4,906 4,100 116,213 1,698,937 184,020 25,357 1,150 115, 213 1,691,696 178,255 37,438 10,360 121,997,901 24,773 4,100 2 2,002,785 19,979 1,300 f 116,213 1,700,966 167, 828 50,553 3,660 116,213 1, 703, 261 140,396 65,538 136,036 115,213 1,749,763 89,295 68,610 135,000 115,213 1,802,075 67,804 26,419 135,060 115,213 1,749,439 29,601 114,712 135,000 3 4 5 6 7 8 127,300 3,317 29,383 21,055 %o 26,608 116,300 16,400 2,300 14,064 ^ioo 13,962 1,150 13,854 10,350 14,201 4,100 118,864 1,300 15, 665 3,650 14,387 130,050 129,215 117,958 127,815 9 in 4,986 14,336 5,785 17,049 17,042 18,327 7,185 18,236 11 12 21,055 1,121,915 26,608 497,893 14,064 656,710 13,962 715,379 13,854 821,207 14,201 684,455 118,864 695, 192 15,665 1,221,902 14,387 409,925 14,336 149,906 17,049 1,259,448 18,327 475,756 18,236 2,284,069 13 14 1,121,915 3,321,611 497,893 2,551,655 656,710 2,826,507 715,379 2,755,619 821,207 2,869,738 684,455 2,731,508 695,192 2,840,830 1,221,902 3,261,631 409,925 2,452,522 149,906 2,323,684 1,259,448 3,424,378 475,756 2,640,594 2,284,069 4,446,270 15 16 115,213 1,860,566 163,707 1,182,125 115,213 1,744,078 135,317 557,047 116, 213 1,838,163 192, 734 680,397 115,213 1,725,144 176,915 738, 347 116,213 1,698,937 184,020 861,668 115,213 1,691,596 178, 266 746, 444 In, 997, 901 842,929 2 2,002,785 1,268,846 ( 116,213 { 1,700,966 I 157,828 478,515 115,213 1,833,311 140,396 234,765 116,213 1,878,978 89,295 1,340,892 115,213 1,920,033 67,804 537,644 115,213 1,877,254 29,601 2,424,202 18 19 20 21 2 Not reported separately. 92 WEALTH, DEBT, AND TAXATION. Table I DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness op DELAWARE. CHAEACTER AND PUHPOSE OF ISSUE. Year of issue. Year of maturity. Rate of in- terest. AMOUNT OUTSTANDING— Dec. 31, 1893. Dec. 31, 1894. Dec. 31, 1895. Dec. 31, 1896. Dec. 31, 1897. Dec. 31, 1898. Dec. 31, 1899. 1 Total $684,750 J684,750 $719,750 $719,750 $844,750 $819,750 $769,760 Funded debt 2 684,750 684,750 719,750 719, 760 844,750 769,750 769,750 Bonds: Refunding war loans . 1885 1887 1891 1895 1897 1897 1907 1907 1907 1909 1909 1881 1906 1887 1906 1905 1892-1907 1901 1906-15 192^-27 1922-27 1932 1917-27 1917 1919 1919 1906 1931 Perpetual. 1906 4 3 4 3.5 3 3 4 4 4 4 4 6 6 6 (') 3 120,000 250,000 75,000 120,000 250,000 75,000 120,000 250,000 75,000 35,000 120,000 260,000 75,000 35,000 4 5 Refunding war loans (part of series B) Refunding state hospital building bonds . . . State hospital buildmg 250,666 75,000 35,000 50,000 195,000 250,000 250,000 6 36,666 .50,000 195,000 35,000 60,000 196,000 7 Expense of constitutional convention Refunding issue-s of 1885 a,Ti(1 1891 S 9 Refunding war loans (part of series B) TTnspifci.l imprnvemftnt . - in 11 i 1 n Certificate of indebtedness, sinking fund. . . Loan of 1909 ! 13 1 u Special debt obligations to pubUo trust fimds: Free school fund ..,.,.... .. 156,750 156, 750 156, 750 156,750 156, 750 166,760 156, 750 15 16 Delaware College fund 83,000 83,000 83,000 83,000 83, 000 83,000 83,000 17 State bond to school fund IS Floating debt-. - . 60,000 19 1 50,000 1 , B — Detailed Exhibit op General Treasury Cash and the Assets op FUND AND CHAKACTER OF INVESTMENT. CASH AND SECURITIES ON HAND — Dec. 31, 1893. Deo. 31, 1894.1 Dec. 31, 1896. Dec. 31. 1896.1 Deo. 31, 1897. Dee. 31, 1898. Dec. 31, 1899. 1 Total .. $1,134,397 $1,180,929 $1,203,816 $1,153,094 $1,158,306 ? 3,180 4,529 2,992 3,323 4,434 Delaware bonds 3 4 R 6 Cash.... 3,180 552,9.52 4,629 662,694 2,992 564,352 3,323 586,667 4,48i 654,957 7 s 156, 750 156, 750 156,760 156,750 156, 750 q State bond 10 County bonds - . 5,000 382,992 8,210 83,000 5,000 384,827 16,017 83,000 6,000 384, 827 17,776 83,000 6,666 382,215 42,702 83,000 5,000 471,180 22,027 83,000 11 I'' n 83,000 83,000 83,000 83,000 83,000 IR State bonds - • •• Ifi 1 IS Municipal bonds in - ''0 Cash ::::; •; 1 496,265 630,806 553,472 480, 104 415,865 92,100 395,000 8,165 1,134,397 92, 100 395,000 43, 706 1,180,929 92,875 386,000 75, 597 1,203,816 91,875 386,000 3,229 1,163,094 9,000 385, 000 21,865 1,158,306 '>! Cash 25 Total If 239, 760 239,750 239,750 239, 760 239, 750 6,000 475,092 395,000 6,000 476,927 395,000 5,000 477,702 385,000 6,000 474, 090 385,000 6,000 480, 180 385, 000 70 ?1 70 19,655 64,262 96,364 49,264 48,376 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Delaware: December 31, 1893, to December 31, 1912. 93 DELAWARE. AMOUNT OUTSTANDING — Continued. Deo. 31, 1900. Deo. 31, 1901. Deo. 31, 1902. Dec. 31, 1903. Deo. 31, 1904. Dec. 31, 1905. Deo. 31, 1906. Deo. 31, 1907. Dec. 31, 1908. Deo. 31, 1909. Deo. 31, 1910. Dec. 31, 1911. Deo. 31, 1912. 8769,750 $769,750 $769,750 $769, 750 $769, 750 $756, 785 $756,785 $816,785 $816,785 $826,785 $826,785 $826, 786 $826,786 1 769,750 769,750 769,760 769,750 769,750 756, 786 756,785 816,785 816,785 826,785 826,785 826, 785 826,785 2 3 250,000 260,000 250,000 250,000 250,000 250,000 250,000 4 1 6 35,000 50,000 195,000 35,000 50,000 196,000 36,000 1 245,000 36,000 245,000 35,000 245,000 6 246,000 245,000 245,000 260,000 40,000 20,000 246,000 260,000 40,000 20,000 245,000 230,000 40,000 20,000 20,000 10,000 245,000 230,000 40,000 20,000 20,000 10,000 245,000 230,000 40,000 20,000 20,000 10,000 245,000 230,000 40,000 20,000 20,000 10,000 7 8 q 10 11 1? 1 13 156,750 156,750 156,750 156,750 156,760 156,750 14 178, 785 83,000 178, 786 83,000 178, 786 83,000 178,786 83,000 178,785 83,000 178, 785 83,000 178,785 83,000 IS 83,000 83,000 83,000 83,000 83,000 83,000 22,035 16 17 IS 1 1 1 19 J 1 Producti VB Funds OF Dela ware: Di xembee ; U, 1893, T PO Decem ber 31, 1912. CASH AND Si CUKITIES ON HAND — continued. 1900. Deo. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Deo. 31, 1904. Dec. 31, 1905. Dec. 31, 1906. Dec. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Dec. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. $1,211,446 $1,409,522 $1,448,223 $1,447,001 $1,468,661 $1,441,752 $1,502,508 $1,634,666 $1,583,751 $1,698,806 $1,590,780 $1,573,596 $1,628,223 1 4,009 5,381 7,658 11,464 12,003 4,682 9,649 20,662 25", 412 31,683 38,772 52,588 63,663 2 20,000 20,000 11,000 26,000 11,000 25,000 19,000 6,000 2,588 959,618 25,000 22,000 15,000 1,663 959,089 » 4 fi 4,009 • 658,492 6,381 923,686 7,658 907,977 11,464 928, 714 12,003 937,433 4,662 931,539 9,649 954,377 20,662 960,888 5,412 944,588 683 960,152 2,772 959,993 6 7 156,750 166,750 156,750 156,750 156,760 156,750 178,785 178,785 178,785 178,786 5,000 178,786 6,000 178,785 6,000 178, 785 5,000 8 9 6,000 473,792 22,950 83,000 in 743, 922 22,914 83,000 743, 922 7,305 83,000 758, 266 13,698 83,000 758, 172 22,511 83,000 759,312 15,477 83,000 759,386 16,206 83,000 760,622 21,481 83,000 760,622 6,181 83,000 760,622 15,745 83,000 760,622 15,586 83,000 760,622 15,211 83,000 760,622 14,682 83,000 11 12 13 83,000 83,000 83,000 83,000 83,000 0) 83,000 83,000 83,000 83,000 (1) 83,000 48,868 83,000 51, 829 83,000 51,829 83,000 51,829 14. 151 5,000 43,000 5,000 44,000 2,000 600 329 467,186 6,000 44,000 2,000 500 329 426, 561 6,000 44,000 2,000 500 329 470, 642 16 1 17 1 r ■■ ■ 1 18 1 500 368 476,103 19 ?.0 466,945 397,665 449,588 423,833 426,125 422,661 466,482 470,015 530,751 21 10,000 385,000 70,945 1,211,446 8,600 385,000 3,955 1,409,622 8,600 385,000 65,988 1,448,223 9,200 385,000 29,633 1,447,001 8,600 385,000 32,625 1,458,561 8,600 385,000 28,951 1,441,752 8,640 385,000 61,842 1,602,608 9,000 385,000 76,015 1,534,565 9,000 386,000 136,761 1,583,751 9,000 386,000 81,103 1,698,806 9,000 385,000 63, 186 1,590,780 9,000 385,000 32,561 1,573,696 9,000 385,000 76,642 1,628,223 22 23 24 25 239,750 239,750 239,750 239, 760 239,750 239,750 261,785 261,786 261, 786 20,000 261,785 30,000 54,000 770,122 385,000 261,785 35,000 65,000 770, 122 385,000 2,000 81, 873 261,785 35,000 63,000 770, 122 385,000 8,000 50, 689 261,786 35,000 66,000 770, 122 385,000 17,000 93,316 26 27 5,000 483,792 385,000 28 762,522 386,000 752, 522 385,000 767,466 386,000 766, 772 386,000 767,912 385,000 768,026 385,000 769,622 385,000 769,622 385,000 29 30 31 97,904 32,250 70,951 64,785 67,039 49,090 87,697 118,168 147,344 97,899 32 94 WEALTH, DEBT, AND TAXATION. Table 1.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of FLORIDA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Eate of in- terest. AMOUNT OUTSTANDrNG — Dec. 31, 1893. Dec. 31, 1894. Dec. 31, 1895. Deo. 31, 1898. Dec. 31, 1897. Dec. 31, 1898. Dec. 31, 1899. 1 Total $1,475,000 11,475,000 $1,476,000 $1,475,000 $1,476,000 $1,400,000 $1,375,000 2 Funded debt 1,275,000 1,276,000 1,276,000 1,275,000 1,276,000 1,275,000 1,275,000 Bonds: "FnTKiiTijT 1871 1873 1901 1903 1901 1903 1951 1953 7 6 3 3 3 360,000 926,000 360,000 925,000 350,000 925,000 350,000 925,000 360,000 925,000 360,000 925,000 350,000 926,000 4 5 Pp.fnnHing is^nfi nf 1^71 fi 7 200,000 200,000 200,000 200,000 200,000 125,000 100,000 Notes 8 200,000 200,000 200,000 200,000 200,000 125,000 100, 000 9- B — Detailed Exhibit of General Treasury Cash and the Assets of FUND AND CHAKACTER OF INVESTMENT. CASH AND SECURITIES 3N HAND — Dec. 31, 1893. Dec. 31, 1894. Dec. 31, 1896. Deo. 31, 1896. Deo. 31, 1897. Dec. 31, 1898. Dec. 31, 1899. I Total. $1,244,073 $1,364,553 $1,480,067 $1,462,174 $1,374,045 $1,442,418 $1,442,473 243,087 243,087 243,087 243,087 243,027 243,044 243, 072 Florida bonds 3 242,500 587 639,933 242,500 687 647,766 242,600 687 661,317 242,500 587 667,296 242,500 627 671,910 242,600 644 673,106 242,600 672 686,892 Cash 445,100 76,000 97,000 445,100 76,000 97,000 445,100 175,000 36,000 446,100 175,000 36,000 449,100 176,000 36,000 476,300 100,000 36,000 478,300 100,000 36,000. 7 9. 10 Cash . 22,666 96,275 30,666 95,330 5,217 95,476 11,196 95,469 11,810 95,920 60,806 96,067 72,692 97,762 ■\n Seminary fund . 13 93,900 93,900 93,900 94,900 94,900 96,900 95,900 14 Cash 1,375 153,901 1,430 153,805 1,576 153,801 569 153,816 1,020 163,800 157 153,800 1,862 153,800 136,800 18,000 135,800 18,000 135,800 18,000 135,800 18,000 135,800 18,000 135,800 18,000 135.800 18,000 19 Other state bonds 19 101 111,877 5 224,665 1 326,386 16 292,606 209,388 276,411 260,947 Cash nn 111,877 1,244,073 224,565 1,364,663 326,386 1,480,067 292,606 1,452,174 209,388 1,374,045 276,411 1,442,418 260,947 1,442,473 Total. '^1 917,300 75,000 115,000 917,300 75,000 115,000 917,300 175,000 54,000 918,300 175,000 54,000 922,300 176,000 64,000 950,600 100,000 64,000 ' 952,600 100,000 64,000 25 26 07 28 136,773 257,253 333, 767 304,874 222, 745 337,918 336,973 NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OP STATES: 1893 TO 1913— Continued. Florida: December 31, 1893, to December 31, 1912. FLORIDA. 95 AMOtTNT OUTSTANDING — Continued. Dec. 31, 1900. Deo. 31, 1901. Deo. 31, 1902. Deo. 31, 1903. Deo. 31, 1904. Dec. 31, 1905. Deo. 31, 1906. Deo. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Deo. 31, 1910. Deo. 31, 1911. Dec. 31 1912. 81,275,000 $1,192,700 $1,192,700 $605,410 $607,422 $614,963 $609,699 $618,058 $611,185 $622,948 $615,852 $615, 237 $619, 199 1 1,275,000 1, 192, 700 1, 192, 700 601,567 601,567 601,567 601,567 601,567 601,567 601,567 601,567 001,567 601,567 2 350,000 925,000 3 925,000 267,700 925,000 267, 700 4 267,700 333,867 3,843 267,700 333,867 5,855 267, 700 333,867 13,396 267, 700 333,867 8,132 267,700 333,867 16,491 267,700 333,867 9,618 267,700 333,867 21,381 267,700 333,867 14,285 267,700 333,867 13,670 267,700 333,867 17,632 t^ 6 7 8 3,843 5,855 13,396 8,132 16,491 9,618 21,381 14,285 13,670 17,632 9 Productive Funds op Florida: December 31, 1893 to December 31, 1912. CASH AND SECTIEITIES ON HAND— OOntinued. Deo. 31, 1900. Deo. 31, 1901. Deo. 31, 1902. Deo. 31, 1903. Deo. 31, 1904. Deo. 31, 1905. Deo. 31, 1906. Deo. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Deo. 31, 1910. Dec. 31, 1911. Deo. 31, 1912. $1,573,641 $1,475,511 $2,347,499 $1, 766, 131 $1,851,367 $1,764,408 $1,885,854 $1,944,570 $2,060,285 $1,953,707 $2,343,963 $2,567,907 $2,779,502 1 243,072 160,200 160,200 ? 242,500 572 726,920 160,200 160,200 ^ 4 743,953 833,101 1,025,663 1,051,996 1,085,808 1,104,404 1,118,077 1,132,972 1,181,666 1,379,554 1,448,876 1,491,420 5 608,200 650,100 650,100 368,167 368,167 368,167 368, 167 368, 167 368, 167 368,167 368, 167 368, 167 368, 167 7 88,000 93,000 181,000 599,000 680, 400 717,200 729,300 749,100 761,500 811, 700 894,300 34,000 81,800 1,287 129, 445 894,300 34,000 130,000 22,409 129,445 894,300 54,000 168, 600 6,453 129,445 8 9 . 10 30,720 97,805 853 98,600 2,001 99,513 68,496 121,555 3,429 122,324 441 1^,300 6,937 124,228 810 129,395 3,305 129,446 1,799 129,446 11 12 97,700 98,600 98,600 97,600 23,900 55 164,326 97,600 24,700 24 153,803 97,600 25,700 97,600 25,700 928 156,335 97,600 31,600 195 164,059 97,600 31,600 246 164,029 97,600 31,600 245 153,807 97,600 31,600 245 154,254 97,600 31,600 245 154,303 97,600 31,600 245 164,989 13 14 105 153,800 913 153,843 TS 153,800 154,827 16 135,800 18,000 135, 800 18,000 135,800 18,000 135,800 18,000 135,800 18,000 135,800 18,000 135,800 18,000 135,800 18,000 136,800 18,000 135,800 18,000 135,800 10,000 8,000 454 680,710 135,800 10,000 8,000 603 835,283 135,800 10,000 8,000 1,189 1,003,648 17 18 19 43 1,100,842 526 464,587 3 523,244 1,027 400,473 2,535 600,887 269 643,039 229 643,839 7 488, 789 ?0 352,044 318,958 21 352,044 1,573,641 318,958 1,475,511 1,100,842 2,347,499 464,587 1, 766, 131 623,244 1,851,367 400,473 1,764,408 600,887 1,885,854 643,039 1,944,570 643,839 2,060,285 488,789 1,953,707 680,710 2,343,963 835,283 2,667,907 1,003,648 2,779,602 22 23 1,084,200 1,044,700 1,044,700 601, 567 601,567 601,567 601,567 601,567 601,567 601,567 601,567 601,567 601,567 24 ?5 106,000 111,000 199,000 640,900 723, 100 760,900 773,000 798,700 811, 100 861,300 936,900 34,000 89, 800 682,696 935,900 34,000 138,000 858, 440 936,900 54,000 176,500 1,011,535 26 ?7 ?^ 383,441 319,811 1,103,799 523, 664 626,700 401,941 611,287 544, 303 647,618 490,840 29 96 WEALTH, DEBT, AND TAXATION. Table 1 DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASUBY CASH, A — Detailed Exhibit op the Indebtedness op GEORGIA. CHAKACTEE AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING — Sept. 3D, 1893. Sept^30, Sept. 30, 1895. Sept. 30, 1896. Sep.^30, Sept. 30, 1898. Sept. 30, 1899. 1 Total 88,244,702 $8,244,702 J8, 529, 202 $8,257,202 $8,229,202 $8,127,202 $8,026,202 2 Funded debt 8, 244, 702 8,244,702 8,529,202 8,257,202 8,229,202 8,127,202 8,026,202 Bonds; Eefunding 1806-77 1876 1885 1888 1890 1892 1895 1896 1881 0) 1908 1909 Ceased. 7 4.5 4.5 3.5 4.5 3.5 4 7 7 3.5 3.5 3 5,000 542,000 3,392,000 1,900,000 1,833,000 207,000 5,000 542,000 3,392,000 1,900,000 1,833,000 207,000 2,500 542,000 3,392,000 1,900,000 1,833,000 207,000 287,000 35,500 7,500 5,500 4,500 4 Refunding 1896 1915 1898-1916 1917-35 1922 1915 1926 1932-46 1958 1959 S 3,392,000 1,900,000 1, 833, 000 207, 000 287,000 230,000 282,500 90,202 3,392,000 1,900,000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,302,000 1,800,000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,392,000 1,700,000 1,833,000 207,000 287,000 230,000 282,500 90,202 fi Refunding. 7 8 Refunding 9 Redemption of railroad bonds indorsed by state. Refunding 10 11 Special debt obligations to public trust funds: 275,500 90,202 275,500 90,202 275,600 90,202 1? University fund 13 TTnivprsityfiiTid. . 14 University fund 15 Floating debt Temporary loans Ifi 1 - B — Detailed Exhibit of General Treasury Cash and the Assets of FUND AND CHAKACTEE OF INVESTMENT. CASH AND SECURITIES ON HAND. Sept. 30, 1893. Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1896. Sept. 30, 1897. Sept. 30, Sept. 30, 1899. Total. . . Sinking fund. Cash School fund Western & Atlantic Railroad (one-half estimated value) . University fund Special debt obligations to public trust funds General and special funds. . Western & Atlantic Railroad (one-half estimated value) Georgia Railroad stock Telegraph company stock North Eastern Railroad obligations indorsed by Southern Railway. Cash Total. Special debt obligations to public trust funds Western & Atlantic Railroad (estimated value)., Georgia Railroad stock Telegraph company stock Cash 312,540,649 $12,232,086 $12,519,937 $11,469,325 $12,469,048 $12,931,344 $14, 167, 179 200,000 5,500,000 5,500,000 200,000 5,656,500 5,295,000 6,817,500 6,100,000 6,653,000 5,500,000 365, 702 5,500,000 365, 702 5,656,500 365, 702 5,295,000 372, 702 5,817,500 6,100,000 372, 702 6,653,000 372, 70J 365,702 6,674,947 365, 702 6,366,384 365, 702 6,297,735 372, 702 5,801,623 372, 702 ,279,446 372, 702 6,458,642 372, 702 7, 131, 477 5,500,000 25,110 10,000 5,600,000 27, 750 10,000 5,666,600 29,700 10,000 5,295,000 29,700 10,000 5,817,500 29,700 10,000 6,100,000 29,700 10,000 6,653,000 29,700 10,000 1,139,837 12,540,649 365, 702 11,000,000 25,110 10,000 1, 139, 837 828,634 12,232,086 365, 702 11,000,000 27, 750 10,000 828,034 601,535 12,519,937 366, 702 11,313,000 29,700 10,000 801,535 466,923 11,469,325 372, 702 10,690,000 29,700 10,000 466, 923 422,246 12,469,648 372, 702 11,635,000 29, 700 10,000 422, 246 318,942 12,931,344 372, 702 12,200,000 29,700 10,000 318,942 438, 777 14,157,179 372, 702 13,306,000 29,700 10, 000 438, 777 •Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Georgia: September 30, 1893, to September 30, 1912. GEORGIA. 97 AMomjT ooTSTANDurQ — Continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1905. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. 57,926,202 $8,026,202 $7,876,202 $7,626,202 $7,526,202 $7,433,202 $7,328,202 $7,382,202 $7,177,202 $7,034,202 $6,934,202 $6,834,202 $6,934,202 1 7,926,202 7,826,202 7,726,202 7,626,202 7,526,202 7,433,202 7,328,202 7,227,202 7,127,202 7,034,202 6,934,202 6,834,202 6,734,202 2 4,500 4,500 4,500. 4,500 4,500 4,500 4,500 3,500 3,600 3,500 3,500 3,500 3,500 3 4 3,392,000 1,600,000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,392,000 1,500,000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,392,000 1,400,000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,392,000 1,. 300, 000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,392,000 1,200,000 1,833,000 207,000 287,000 230,000 282,800 90,202 3,392,000 1,107,000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,392,000 1,002,000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,392,000 902,000 1,833,000 207,000 287,000 230,000 282,500 90,202 3,392,000 800,000 1,833,000 207,000 287,000 230,000 282,500 90,202 2,000 3,392,000 700,000 1,833,000 207,000 287,000 230,000 282,600 90,202 2,000 7,000 3,392,000 600,000 1,833,000 207,000 287,000 230,000 282,600 90,202 2,000 7,000 3,392,000 500,000 1,833,000 207,000 287,000 230,000 282,500 90,202 2,000 7,000 3,392,000 400,000 1,833,000 207,000 287,000 230,000 282,500 90,202 2,000 7,000 200,000 5 6 7 8 9 10 11 12 13 14 200,000 150,000 155,000 50,000 1=; 200,000 150,000 155,000 60,000 200,000 16 Productive Funds op Georgia: September 30, 1893, to September 30, 1912. CASH AND SECxmiTiES ON HAND— Continued . Sept. 30, 1900. Sept. 30, Sept. 30, 1902. Sept. 30, 1903. Sept.30, Sept. 30, 1905. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $13,940,548 $13,840,124 $923,582 $1,463,861 $1,426,115 $1,427,866 $1,216,847 $1,233,142 $1,071,292 $1,033,104 $1,166,986 $1,275,138 $1,661,579 1 100,000 100,000 6,348,500 3 6,556,900 « m P) (.') P) m P) P) m P) « 4 6,556,000 372,702 6,348,500 372,702 Q) 372,702 372,702 372,702 372, 702 372,702 P) 372, 702 374,702 C) 381,702 P) 381,702 P) 381,702 P) 381,702 5 6 372,702 7,011,846 372,702 7,018,922 372,702 650,880 372,702 1,081,149 372,702 1,053,413 372,702 1,055,164 372,702 844,145 372,702 860,440 374,702 696,590 381,702 651,402 381,702 785,284 381,702 893,436 381,702 1,279,877 7 8 6,666,000 29,700 10,000 6,348,500 29,700 10,000 29,700 10,000 29,700 10,000 29,700 10,000 M,700 10,000 P) 29,700 10,000 P) 29,700 10,000 46,872 11,000 P) 47,244 11,000 107,000 486,158 1,033,104 P) 48,360 11,000 107,000 618,924 1,166,986 48,360 11,000 107,000 727,076 1,275,138 m 48,360 11,000 107,000 1,113,617 1,661,579 9 10 11 I** 416,146 13,940,548 630,722 13,840,124 511,180 923,582 1,041,449 1,463,851 1,013,713 1,426,116 1,016,464 1,427,866 804,445 1,216,847 820,740 1,233,142 638,718 1,071,292 13 14 372,702 13,112,000 29.700 10,000 416,146 372,702 12,697,000 29 700 10,000 730,722 372, 702 29,700 10,000 511,180 372,702 29,700 10,000 1,041,449 372, 702 P) 29,700 10,000 1,013,713 372,702 29,700 10,000 1,016,464 372,702 29,700 10, 000 804,445 372,702 29,700 10,000 820,740 374,702 46,872 11,000 638,718 381,702 P) 154,244 11,000 486,168 381,702 P) 155,360 11,000 618,924 381,702 P) 155,360 11,000 727,076 381,702 155,360 11,000 1,113,617 15 16 17 18 19 28652°— 14- 2 The reports of tlie treasurer and comptroller do not show the value of the Western & Atlantic Bailroad. -7 98 WEALTH, DEBT, AND TAXATION. Table I — DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op IDAHO. CHAJRACTER AND PURPOSE OF ISSUE. Year of Issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING— Dec. 31, 1893.1 Dec. 31, 1894. Dec. 31, 1895.1 Dec. 31, 1896. Dec. 31, 1897.1 " Dec. 31, 1898. Dec. 31, 1899.1 1 Total $586,278 $395,000 $597,470 Funded debt 2 378,000 ■ 395,000 393,000 ? Bonds: Capitol building 1885 1885 1889 1891 1893-94 1895 1895 1899 1899 1901 1901 1901 1901 1901 1903 1903 1903 1903 1903 1903 1903 1903 1905 1905 1905 1905 1905 1905 1905 1905 1905 1905 1905 1905 1907-08 1907 1907 1907 1907 1907 1907 1907 1907 1907 1907 1907 1909 1909 1909 1909 1909 1909 1909 1909 1909 1909 1909 1909 1909 1911 1911 1911 1911 1911 1911 1911 1911 1911 1911 1911 1911 1911 ■ 1911 1911 1911 1911 1911 1911 1911 1911 1911 1911 1905 1892-95 1890-92 1911 1913-14 1915 1915 1919 1921 1921 1921 1921 1921 1921 1923 1921 1923 1923 1923 1923 1923 1923 1925 1925 1925 1925 1925 1925 1925 1925 1925 1925 1925 1925 1909-10 1927 1927 1927 1927 1927 1927 1927 1927 1927 1927 1927 1929 1929 1929 1929 1929 1929 1929 1929 1929 1929 1929 1929 1919 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 1931 6 6 6 6 5 5 5 5 4 6 4.5 5 5 5 5 5 5 4.5 4 4 4 4 4 4 4 4 4 4 4 4 4 4 4.5 80,000 5,000 50,000 108,000 135,000 2,000 -t Insane asylum ■i Wagon road ' 50,000 108,000 135,000 25,000 75,000 50,000 108,000 135,000 25,000 75,000 f> TSflfunding 7 Wagon road If TnsaTiR asy1n ni improvements 9 Normal schools in Normal school ( Ivewlston) 11 State improvements T Normal school (Albion) n Normal school (Lewiston) 14 Refunding I"; Academy of Idaho 16 Deficiency funding 17 HeficTRncy fiiTiding IS Idaho state deficiency 19 Academy of Idaho improvements '>0 Normal school improvement (Albion) 'I Idaho Supreme Court bmldrng and library m 9^ Industrial reform school ''4 Idaho State Penitentiary improvements '"i TTniversity nf Tdnhn imprOve"ient,S Ofi oy Land surveys OS Idaho Soldiers' Home improvements 09 Intermoiintaui road '(O Academy of Idaho improvement ?1 Idaho State Penitentiary improvements !)0 Normal school (Albion) 33 State reform school 34 North Tdahn Tnsa.no AsyTiim hnild'Tig; 35 Normal school (Lewiston) 3fi Capitol building 37 University of Idaho rebuilding and equipment . . North Idaho Insane Asylum building and im- provements. Academy of Idaho improvements 3R 39 40 Soldiers' home improvements , 41 Atlanta road 4'' Meadows P. L. wagon road ~ 43 Normal school (Albion) 44 Idaho County bridge and wagon road 45 Normal school (Lewiston) Capitnl building 47 TTniversity of Idaho rebuilding 4S Tnd^n^t.rinl txalning pphonl , . , Paris-Franklin road 50 Industrial training school . . 51 Soldiers' home 5'' North Idaho Insane Asylum 53 Normal school (Lewiston) Penitentiary improvement 55 Normal school (Albion) 56 Academy ol Idaho 57 Snake River bridge 53 University of Idaho 60 Salmon River bridge 61 Capitol building 6'' Capitol buildir^ 63 Lincoln-Twin Falls bridge 64 Kootenai road 65 Idaho-Oregon bridge 66 T/e^dore-Pahrroad 67 Canyon Snake River bridge 69 Salmon-Challis road 70 Idaho Industrial Training School 71 70 Moimt Home bridge 73 North and South road 74 75 St. Marie's bridge 76 77 Tdabo Pt^te PanitflriiiTn 73 79 Ross Fork road sn SI Twin Falls-Lincoln Counties bridge (jO Soldiers' home improvements 83 Penitentiary improvement M Road improvement Rfi Floating debt 208,278 (1) 204, 470 86 208,278 (') 204,270 87 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Idaho: December 31, 1893, to September 30, 1912. IDAHO. 99 AMOUNT OUTSTANDING— continued. Dec. 31, 1900. Deo. 31, 1901.1 Deo. 31, 1902. Dec. 31, 1903.1 Sept. 30, 1904. Sept. 30, 1906.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30, 1912. $536,310 $756,043 $737, 688 $1,364,433 $1,599,181 $1,433,707 $2,450,703 ] 443,600 554,500 733,600 1,079,000 1,364,000 1,396,250 2,364,260 2 g 60,000 108.000 136,000 26,000 75,000 7,500 43,000 3,000 135,000 25,000 75,000 7,500 53,000 13,000 8,000 108,000 26,000 102,000 97,000 25,000 75,000 7,600 50,000 13,000 8,000 108,000 25,000 102,000 7,000 93,000 30,000 12,000 " 15,000 30,000 35,000 1,000 41,000 ^ 53,000 7,500 50,000 13,000 8,000 108,000 25,000 102,000 7,000 50,000 30,000 12,000 16.000 43,000 50,000 4,000 40,000 21,000 30,000 14,000 60,000 45,600 50,000 30,000 20,000 30,000 30,000 100,000 7,600 50,000 13,000 8,000 108,000 26,000 102,000 7,000 60,000 30,000 12,000 15,000 43,000 60,000 4,000 40,000 21,000 30,000 14,000 50,000 45,500 60,000 30,000 20,000 30,000 30,000 100,000 100,000 46,000 21,000 5,000 6,000 3,000 20,000 10,000 40,000 30,000 50,000 50,000 10 10,000 6,000 JO 11 10,EOO 73,000 60,000 21 60,000 50,000 0-7 40,000 21,000 40,000 21,000 25 26 27 28 29 30 31 32 33 34 36 35 37 38 39 40 41 42 43 44 45 46 47 48 49 60 51 52 63 54 55 56 57 68 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 8"! ^ 14,000 60,000 46,600 60,000 30,000 20,000 30,000 30,000 100,000 14,000 60,000 45,600 50,000 30,000 20,000 30,000 30,000 100,000 46,000 21,000 5,000 5,000 3,000 20,000 10,000 40,000 30,000 60,000 50,000 3,000 55,000 18,500 36,000 62,750 20,000 36,000 36,000 10,000 62,000 60,000 9,000 100,000 45,000 21,000 6,000 6.000 3,000 20,000 10,000 40,000 30,000 50,000 50,000 3,000 56,000 18.600 35,000 52,750 20,000 36,000 36,000 10,000 62,000 60,000 9,000 56,000 750,000 6,000 26,000 10,000 5,000 25,000 10,000 7,600 33,000 2,600 15,000 20,000 30,000 9,000 35,000 25,000 6,600 20,000 76,000 6,000 13,000 30,000 4,000 86,463 92,810 201,543 4,188 285,433 235,181 37,457 92,810 201,070 473 3,546 642 284,681 852 234,329 852 36,466 991 84,919 1,634 86 87 1 100 ^VEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, B — Detailed Exhibit op General Tkeasukt Cash and the Assets op IDAHO— Continued. FUND AND CHARACTER OF INVESTMENT. CASH AND SECUKITIES ON HAND— Dec. 31, 1893.1 Dec. 31, 1894. Dec. 31, 1896.1 Deo. 31, 1896. Dee. 31, 1897.1 Dec. 31, 1898. Dec. 31, 1899.1 1 Total J126,776 J48,590 $155,379 2 Sinking lunds 64, 584 13,407 13,222 3 60,235 4,349 60 13, 347 4 Casti 13,222 103,411 S General school fund 6 Idaho bonds 31,320 7,541 7 8 School district bonds y 64,550 10 State and school bonds 11 Cash 12 Normal school endowment lund 13 State and school bonds 14 Real estate mortgages 15 IB Cash 17 University endowment fund 18 19 20 21 Cash 22 University school of science endowment fund 23 .'^tji.t.e fl.nd .srhnol bonds 24 Real estate mortgages 2S 2ei Cash 27 Charitable institutions endowment fund 28 29 30 31 Cash 32 Insane fl.syliim endowment fund 33 34 35 .^tji.f.« Tvarranf.'s 3fi Cash 37 38 Rtfltft anrl snhnn] bonrtR 39 40 41 Cash r.„..'.\;::;:::::::::::::::::::::::::;::::::::::::::::::::::-. 42 Public buildings endowment fund 43 State and school bonds 44 4S 46 Academy of Idaho endowment fund 47 48 Real estate mortgages 49 50 Reform school endowment fund 51 State and school bonds m 53 Cash 54 Soldiers' home land endowment fund 55 5fi Cash 57 Agricultural college endowment fund 58 59 Real estate mortgages fin State warrants fil Cash 62 North Idaho Insane Asylum endowment lund 63 64 Real estate mortgages 65 Cash 66 67 State and school bonds 68 Cash 69 Insane patients' fund s 70 Cash 71 General and special funds 62,192 35.183 38,746 T' Cash 62, 192 126,776 35,183 48,590 38,746 155,379 73 Total - 74 ' 31,320 7,541 7S Idaho warrants 60,235 60 76 77 State and school bonds 78 Real estate mortgages 64,650 51,968 79 Cash 66,541 48,630 ' Not reported. ' See recapitulation. NATIONAL AND STATE INDEBTEDNESS. 101 AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Productive Funds op Idaho: December 31, 1893, to September 30, 1912. IDAHO— Continued. CASH AND SKCuiUTiES ON HAND— Continued. Dec. 31, 1900. Dec. 31, 1901.1 Deo. 31, 1902. Dec. 31, 1903.1 Sept. 30, 1904. Sept. 30, 1905.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30, 1912. $274,381 $902,720 $1,240,450 2 $2,014, 944 $691,449 $968,708 $5,198,104 1 54,964 431,396 54,131 18, 166 112,632 310,949 307,389 2 161,374 270,022 184,492 18, 156 7,326 » 64,954 143,400 64,131 366,352 112,632 17,608 310,949 95,611 307,389 2,446,278 4 5 74,320 111,000 6 8,449 C) (') (') 7 19,600 53,892 S 69,080 131,435 223,045 3,423 194,601 7,326 8,265 17,608 268 (') (') 95,511 7,019 697, 457 1,597,679 151, 142 338,881 9 • 10 11 12 96,600 61,000 37,908 93 134,693 i 8,265 11,177 « 7,019 5,305 170,845 167,205 13 14 258 1,600 15 831 280,135 Ifi 17 64,300 37,260 30,411 2,722 99,091 11,177 5,608 1'^ ') 1,600 498 (!) 0) 5,305 7,823 163, 790 123,815 18 19 20 2,530 220, 144 21 22 45,675 17,850 5,467 30,099 45,580 5,608 113 (') (!) (') (') 7,823 6,814 102,450 115,954 23 74 (1) 498 47, 773 ?5 1,740 362,856 2R 27 20,800 19,700 .'1 113 21,670 W (') ^'^814 13,570 136,380 224, 705 28 29 47,773 8,196 30 5,080 27,275 1,770 109,511 31 ■ 32 14,300 8 21,670 245 (') (') 13,570 8,415 49,600 59,920 33 34 12,369 606 33,159 8,195 3 .35 91 97,927 36 37 32,200 245 82,546 13,700 38 (') 39 83,976 251 40 959 64,990 3 69,754 8,415 10,509 41 42 26,900 37,907 183 40,842 82,546 1,798 43 69,754 (') 0) 10,509 (1) 44 45 46 32,000 8,000 842 47,042 «1,79S 0) 47 , (') (1) 48 49 0) 50 32,000 15,000 42 25,027 51 52 .53 224 3,346 2,570 54 25,000 27 224 763 3,345 428 2,570 1,611 56 56 144,862 57 753 1,463 C) C) 39,600 101,040 58 ,W 60 -- 428 6,017 1,611 3,915 4,322 61 62 1,463 (') W 63 64 6,017 3,915 65 120,230 66 42,230 1,534 68 473 642 862 852 991 69 76,027 473 286,359 642 107,025 852 306,836 862 422,686 991 493, 706 1,634 768,358 VO 71 76,027 274,381 286,359 902,720 107,025 1,240,450 306,836 2,014,944 422,586 691,449 493, 706 968,708 768,358 5,198,104 V2 73 74,320 111,000 161,374 19,600 74 132,511 i89, 4i8 0) "(•) 75 76 611,820 290, 245 206,874 1,089,377 269,117 467,032 0) (1) 691,449 (1) 968,708 2,341,844 1,574,072 1,282,188 77 69,' 616" 130,981 53,892 556,854 78 79 > Not reported prior to 1902. 102 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op ILIilNOIS. CHAEACTEB AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Bate of in- terest. AMOUNT OUTSTANDING — Sept. 30, 1893.1 Sept. 30, 1894. Sept. 30, 1895.1 Sept. 30, 1896. Sept. 30, 1897.1 Sept. 30, 1898. Sept. 30, 1899.1 1 Total Jl, 710, 963 $1,743,577 S2, 119, 073 Funded debt 2 1,183,907 1, 183, 907 1,645,631 Bonds: Bondspastdue 1837 C) & (■> i Ceased. 6 6 6 6 3 18,500 948,955 166,613 69,839 18,500 948,955 166,613 69,839 18,500 948,955 156,613 59,839 461,724 473,442 4 Special debt obligations to public trust funds: Common school fund 5 College fund fi 7 University endowment fund S Floating debt. 527,056 559,670 Private trust funds 9 485, 494 41,562 504, 063 55,607 426,259 48,183 in B — Detailed Exhibit of Genekal Treasury Cash and the Assets op FUND AND CHAEACTEB OF INVESTMENT. CASH AND SECUEITIES ON HAND— Sept. 30, 1893.1 Sept. 30, 1894. Sept. 30, 1895.1 Sept. 30, 1896. Sept. 30, 1897.1 Sept. 30, 1898. Sept. 30, 1899.1 1 Total $3,088,869 $2,051,753 $3,790,508 2 1,093,749 967,609 1,018,294 Special debt obligations to public trust funds. , ' 3 948,955 144,794 166,613 948,955 18,554 150, 613 948,965 69,339 156,613 4 Cash 5 Cnllftge fiiTiri Special debt obligations to public trust funds fi 156,613 69,839 156,613 59,8.39 156,613 59,839 7 RpmiTiary fnnH .... , , , Special debt obligations to public trust funds S 59,839 69,839 59,839 461,724 9 University endowment fund Special debt obligations to public trust funds 10 461,724 414,904 11 Local bond fund 474,160 492,782 Cash 12 474, 160 11,334 492,782 11,281 414,904 10,355 n TTnlmowTl a^d T"i"or ViRira* fnnd . Cash 14 11,334 11,281 10,355 15 Kaskaskia common school fund Real estate mortgages IB 17 Cash IS General and special funds 1,293,174 363, 729 1,668,779 Cash, in 1,293,174 3,088,869 363,729 2,051,763 1,668,779 3,790,508 20 Total n 1,166,407 1,165,407 1,627,131 w. Real estate mortgages n Cash 1,923,462 886,346 2,163,377 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Illinois: September 30, 1S93, to September 30, 1912. 103 ILLINOIS. AMOUNT ouTSTAijDiNG— continued. Sept. 30, 1900. Sept. 30, 1901.1 Sept. 30, 1902. Sept. 30, 1903.1 Sept. 30, 1904. Sept. 30, 1905.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, ftu.i Sept. 30, 1912. 12,180,502 $2,155,122 S2, 108, 928 $2,129,316 $2,223,121 $2,244,820 $2,272,620 1 1,685,339 1, 776, 776 1,802,128 1,819,633 1,824,385 1,830,960 1,831,230 ? 18,600 948,955 156,613 69,839 601,432 495, 163 18,600 948,956 156,613 59,839 592,869 378,346 18,500 948,955 156, 613 59,839 618,221 306,800 17,500 948,955 166, 613 59, 839 636,626 309, 782 17,600 948,955 166,613 59,839 641,478 398,736 17,600 948,955 156, 613 69,839 648,053 413,860 17,500 948,955 156,613 59,839 648,323 441,390 3 4 fl fi 7 8 404,615 90,648 304,996 73,350 264,943 41,857 232,918 76,864 309,940 88,796 258,876 164,984 244,417 196, 973 q 10 Phoduotivb Funds op Illinois: September 30, 1893, to September 30, 1912. CASH ANT> SECURITIES ON HAND— Continued. Sept. 30, 1900. Sept. 30, 1901.1 Sept. 30, 1902. Sept. 30, 1903.1 Sept. 30, 1904. Sept. 30, 1905.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30, 1912. $4,284,795 $5,136,600 $5,230,862 $7,351,260 $5,666,148 $6,238,071 $7,539,420 1 968, 148 975,311 1,201,097 1,241,665 1,130,085 1,220,129 1,047,409 2 948,965 9,193 156,613 948,955 26,356 156,613 948,955 252,142 156, 613 948,955 292, 710 166,613 948,955 181,130 156,613 948,955 271,174 156,613 948, 955 98,454 156,613 3 4 5 156,613 59,839 156,613 69,839 156,613 59,839 156,613 59,839 156,613 59,839 156,613 59,839 156,613 69,839 6 7 59,839 501,432 59,839 592,869 59,839 618,221 59,839 636,626 69,839 641,478 69,839 648,053 59,839 648,323 S q 501,432 395,085 592,869 296,217 618,221 257,260 636, 626 225,898 641, 478 303, 134 648,053 252,070 648,323 237,611 10 T1 395,085 9,530 296, 217 8,779 257,260 7,683 225,898 7,020 303, 134 6,806 252,070 6,806 237, 611 6,806 1? 13 9,530 8,779 7,683 7,020 6,806 6,806 6,806 247,747 14 1,1 226,480 21,267 5,135,072 16 17 2,204,148 3,046,972 2,930,149 5,023,599 3,368,193 3,894,561 IS 2,204,148 4,284,795 3,046,972 5,136,600 2,930,149 5,230,862 6,023,599 7,351,260 3,368,193 5,666,148 3,894,561 6,238,071 5,135,072 7,539,420 10 20 1,666,839 1,758,276 1,783,628 1,802,033 1,806,886 1,813,460 1,813,730 226,480 5,499,210 ■>! W 2,617,956 3,378,324 3,447,234 5, 549, 227 3,859,263 4,424,611 0^ 104 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS. GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of INDIANA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year' of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING— Oct. 31, 1893. Oct. 31, 1894. Oct. 31, 1895. Oct. 31, . 1896. Oct. 31, 1897. Oct. 31, 1898. Oct. 31, 1899. 1 Total $8,516,422 87,947,188 $7,549,620 $6,952,347 $6,230,683 $5,728,746 $5,215,811 2 Funded debt 8,490,615 7,920,615 7,520,616 6,920,615 6,200,615 6,700,616 5,187,615 Bonds: fitatfl stnnV f!firtifina,t.ft«! 1845-47 1885 1885 1885 1852 1889 1889 1889 1891 1891 1895 1895 1883 1881 1907 1907 1866-67 1895 1895 1895 1894 1899 1899 1909 1896 1901 1915 1915 1937 1921 li?7 Ceased. 3.5 3.6 3.5 3 3 3 3 3.5 3.5 3.5 3.5 5 5 4 3 3 6,615 585,000 600,000- 600,000 370,000 700,000 700,000 3,905,000 300,000 340,000 6,615 585,000 400,000 500,000 6,615 6,615 6,615 6,616 5,615 4 Refunding S H New statenouse 7 S 700,000 700,000 3,905,000 300,000 340,000 700,000 700, 000 3,905,000 300,000 340,000 585,000 500,000 144,000 340,000 400,000 700,000 3,905,000' 100,000 700,000 3,825,000 q 300,000 3,826,000 Tn Refunding school bonds. . . 3,613,000 11 Current expense 11? 340,000 685,000 500,000 144,000 340,000 13 686,000 600,000 144,000 340,000 686,000 600,000 144,000 340,000 586,000 500,000 144,000 340,000 14 15 16 17 Special debt obligations to public trust funds: Indiana University endowment fund Piu-due University endowment fund Board of Agriculture pavilion bonds Vincennes University bonds Floating debt 144,000 340,000 144,000 340,000 IS 19 25,807 26,573 29,005 31,732 30,068 28,131 28,196 Private trust fund . 510 25,807 26,573 29,005 31,732 30,068 28,131 28,196 ?1 Outstanding warrants B — Detailed Exhibit op General Tbeasukt Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND— Oct. 31, 1893. Oct. 31, 1894. Oct. 31, 1895. Oct. 31, 1896. Oct. 31, 1897. Oct. 31, 1898. Oct. 31, 1899. 1 Total.... $11,294,002 $11,480,884 $11,725,782 $11,828,385 $11,768,089 $11,885,562 812,000,368 Sinking fund 2 231,193 10,222 5,309 35 4,267 3 Cash 231, 193 7,645,469 10,222 7,720,166 6,309 7, 768, 461 36 7,804,884 4,267 7,847,766 4 Common school fund 7,526,960 7,690,961 b Deposits with counties Cash 7,521,227 5,733 2,536,423 7,685,228 5,733 2,671,936 7,639,726 5,733 2,603,999 7,714,433 5,733 2,603,999 7,752,728 5,733 2,503,691 7, 799, 151 6,733 2,504,033 7,842,033 6,733 2,469,982 7 Congressional township school fund H 2,536,423 416,726 2,571,935 476,105 2,603,999 541,702 2,503,999 612,926 2,603,691 643,361 2,604,033 696,606 2,469,982 576,306 9 Indiana University endowment fund in Special debt obligations to public trust funds . . . 144,000 144,000 144,000 144,000 144,000 144,000 23,825 407,957 19,824 123,947 144,000 74,611 336,809 20,885 124,044 11 1? Real estai:e mortgages. . . 271,425 301 115,246 330,687 1,418 120, 118 396,274 1,428 134,354 467,704 1,222 133,327 490, 167 9,194 132,671 13 Cash 14 College fund 15 Real estate mortgages 108,290 118,522 128,056 132,664 130,779 116,819 101,069 16 Deposits with counties 17 Cash 6,966 340,000 1,696 340,000 6,298 340,000 773 340,000 1,792 340,000 8,128 340,000 22,975 340,000 18 Purdue University endowment fund 19 340,000 340,000 340,000 340,000 340,000 340,000 340,000 20 Board of agriculture pavilion bonds 21 Special debt obligations to public trust funds 22 Vincennes University bonds 23 24 Private trust funds 25,807 26,573 29,005 31,732 30,068 28,131 28, 196 75 Cash 25,807 333, 840 26,573 355,192 29,006 300,070 31,732 476,013 30,068 344,628 28,131 488,926 28,196 609,808 26 General and special funds ?7 Cash 333,840 11,294,002 365, 192 11,480,884 300,070 11,725,782 476,013 11,828,385 344,628 11,758,089 488,926 11,886,562 609,808 12,000,368 'R Total ■^9 484,000 10, 057, 650 379,716 372,637 484,000 10,157,163 449, 209 390,612 484,000 10, 143, 725 624,330 673, 727 481,000 10,218,432 600,268 625,696 484,000 10,256,419 620,946 396, 724 484,000 10,327,009 623, 776 650,777 484,000 10,386,628 437,878 691,864 ^0 ^1 ^9 Cash - 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OP STATES: 1893 TO 1913— Continued. Indiana: October 31, 1893, to September 30, 1912. INDIANA. 105 AMOUNT ouTSTANDiNS— continued Oct. 31, 1900. Oct. 31, 1901. Oct. 31, 1902. Oct. 31, 1903. Oct. 31, 1904. Oct. 31, 1905. Oct. 31, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $4,731,674 $4,231,730 $2,924,780 $2,618,285 $2,072,998 $1,651,808 $1,357,151 $1,578,922 $1,698,402 $1,687,801 $1,599,939 $1,529,393 $1,360,783 1 4, 704, 615 4,204,616 2,887,615 2,437,615 1,902,615 1,443,616 1,289,615 1,610,163 1,510,163 1,510,163 1,510,163 1,410,163 1, 260, 163 2 5,615 5,615 5,015 5,615 5,615 6,616 5,615 6,615 5,615 5,615 5,615 5,615 5,615 3 4 5 6 7 8 9 3,130,000 2,630,000 1,313,000 863,000 613,000 154,000 10 11 1'' 685,000 500,000 144,000 340,000 585,000 500,000 144,000 340,000 685,000 500,000 144,000 340,000 685,000 500,000 144,000 340,000 300,000 500,000 144,000 340,000 300,000 500,000 144,000 340,000 300,000 500,000 144,000 340,000 300,000 600,000 144,000 340,000 100,000 120,648 68,759 300,000 500,000 144,000 340,000 100,000 120,548 88,239 300,000 600,000 144,000 340,000 100,000 120,648 77,638 300, 000 600,000 144,000 340,000 100,000 120,548 89,776 300,000 -500,000 144,000 340,000 300,000 350,000 144,000 340,000 13 14 15 16 17 120,548 119,230 120,548 90,620 IS 27,059 27,115 37,165 80,670 170,383 108,193 67,536 19 27,069 27,115 26,213 10,962 36,978 43,692 43,172 127,211 47,966 60,227 55,028 12,508 64,923 3,836 64,999 23,240 64,706 12,933 63,980 25,796 66,938 62,292 78,340 12,280 20 Productive Funds of Indiana: October 31, 1893, to September 30, 1912. CASH AND SECtJKITIES ON HAND — continued. Oct. 31, 1900. Oct. 31, 1901. Oct. 31, 1902. Oct. 31, 1903. Oct. 31, 1904. Oct. 31, 1905. Oct. 31, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $11, 727, 183 $11,965,066 $11,916,507 $11,829,567 $12,014,515 $12, 147, 740 $12,424,940 $13,249,560 $12,927,359 $12,941,493 $12,813,562 $12,815,530 $12,994,090 210 148 61 1,036 270, 742 478 210 7,898,037 148 7, 931, 313 7,984,314 8, 03^134 1,036 8,171,948 8, 173, 816 8,275,997 8,380,252 8, 528, 226 5,733 2,467,656 7,925,580 5,733 2,464,747 7,978,581 5,733 2,465,305 2,467,656 581, 105 2,464,747 581,330 2,466,305 696, 130 8,031,401 5,733 2,465,544 8,166,215 5,733 2,471,349 8,168,083 5,733 2, 473, 144 8,270,266 5,741 2,473,144 8,372,204 8,048 2, 473, 144 2,466,544 612, 702 2,471,349 612,945 2,473,144 154,289 2,473,144 146, 739 2,473,144 148, 789 8,528,210 15 2,474,152 270, 742 8, 622, 806 ;, 622, 791 16 2, 475, 163 8,848,700 8,732,046 1,603 2, 476, 297 144,000 122, 262 300, 347 14, 496 125,912 144,000 165, 492 240, 352 41, 486 124, 222 144,000 236, 746 169,602 46, 782 124,522 144,000 296,664 149, 102 23,036 128,443 144,000 415,691 30,040 23,214 127,943 144,000 (') 10,289 566,655 144,000 "'2,' 739 697, 171 144,000 2,474,152 144,377 8,846,825 1,875 2, 478, 132 144,000 2, 475, 163 144, 462 144,000 2, 476, 297 144, 805 2, 478, 132 145, 565 144,000 606,646 377 611,461 806 612,954 88, 647 73, 246 69,461 80,878 53,269 37,265 340,000 50,976 340,000 65,061 340,000 77,565 340,000 74,674 340,000 17,319 645,268 4,068 340,000 16, 177 578, 707 3,287 340,000 11,966 591,247 3,443 340,000 602,633 340,000 6,181 602,533 4,240 340,000 144,000 ""i,"565' 614, 106 1,468 607,235 4,113 340,000 1,118 611,938 1,050 340,000 478 8,962,096 8,960,114 1,982 2,475,857 2,475,857 146,065 144,000 "'2,'665' 615, 276 1,118 613,048 1,110 340,000 340,000 340,000 340,000 340,000 340, 000 340,000 340,000 100,000 340,000 100,000 340,000 100,000 340,000 100,000 120,548 100,000 120,548 100,000 120, 548 100,000 120,548 120,548 27,059 27, 115 26, 213 36,9''8 43, 172 47,966 27,069 287, 204 27, 115 486, 191 26,213 380,962 36,978 208,766 287,204 11,727,183 486, 191 11,955,066 380,962 11,916,507 208, 766 11,829,667 43, 172 246, 122 246, 122 47,966 391,272 391, 272 55,028 536, 861 536, 861 120,548 64,999 120,548 64, 705 120,648 63,980 64,923 1,016,258 64,999 543,597 12,014,516 12, 147, 740 12,424,940 1,016,258 13, 249, 560 543,697 12,927,359 64,706 190, 113 120,548 66,938 63,980 221,467 66,938 201,641 190,113 12,941,493 221, 467 12,813,662 201,641 12,815,530 340,000 120, 548 120,548 78,340 78,340 256, 430 265,430 12,994,090 484,000 10,482,222 388, 994 371,967 484,000 10,646,819 313,598 611,649 484, 000 10, 679, 632 229, 063 623,812 484,000 10,793,509 199, 980 362,078 484,000 11,053,256 83,309 393,961 484,000 11, 186, 495 17,319 459,926 484, 000 11,322,107 15,177 603, 606 704, 548 11,436,695 11,966 1,096,461 704,648 11, 604, 895 8,830 609,086 704,548 11,700,487 6,181 530, 277 704,548 11,815,678 1,468 291,968 604,548 11,936,895 1,118 272, 969 604,648 12,049,019 1,118 339, 406 2 Transferred to "college fund." 106 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — D'BTAiLED Exhibit of the Indebtedness of IOWA. CHARACTEB AND PURPOSE OF ISSI7E. Year oJ issue. Year of ma- turity. Eate of in- terest. AMOtJNT OUTSTANDING— June 30, 1894.1 June 30, 1895. June 30, 1896.1 June 30, 1897. June 30, 1898.1 June 30, 1899. June 30, 1900.1 1 Total $85, 023 $458,573 $90,881 ? 10, 937 10, 937 10,9.37 Special debt obligations to public trust funds: PermaTipnt sr*hnol fnnd (') (') 6 s 10,937 74,086 10,937 447,636 10,937 79,944 4 Floating debt . Warrants 5 74,086 447,636 79,944 B — Detailed Exhibit of General Treasury Cash and the Assets op FUND AND CHAEACTEE OF INVESTMENT. CASH AND SECUBITIES ON HAND— June 30, 1894.1 June 30, 1895. June 30, 1896.1 June 30, 1897. June 30, 1898.1 June 30, 1899. June 30, 1900.1 1 Total $5,542,108 $5,306,226 $5,813,798 ? 4, 708, 209 4,724,957 4,745,429 R 10,937 4,696,672 600 10,937 4,713,420 600 10,937 4,733,892 600 4 5 Heal estate mortgages fi Cash 7 Agrinnltnral cnllftje PTidowmpnt fiiTid 501,936 514,907 571,461 8 501,900 36 331,963 609,584 5,323 66,362 482,839 88,622 496,908 q in QpTiprfvl RTitl Ppp^^l funds 11 19,106 312,857 5,542,108 18,606 47,756 5,306,226 978 495,930 5,813,798 1? Cash IS Total 14 ' 10,937 4,696,672 602,500 19,106 312,893 10,937 4,713,420 510,184 18,606 53,079 10,937 4,733,892 483,439 978 584,552 1'i T^ppoRif-'! vnfh mnnt.iPs 16 Real estate mortgages 17 18 > Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Iowa: June 30, 1894, to June 30, 1913. IOWA. 107 AMOUNT ouTSTANDiNO — Continued. June 30, 1901. June 30, 1902.1 June 30, 1903. June 30, 1904.1 June 30, 1905. June 30, 1906. June 30, 1907.1 June 30, 1908. June 30, 1909.1 June 30, 1910. June 30, 1911.1 June 30, 1912. June 30, 1913. $89,765 $49,589 $83,427 $173,903 $218, 159 $57,938 $76,906 $366,670 1 10,937 10,937 10,937 10,937 10,937 10,937 10,937 10,937 t, 10,937 78,828 10,937 38,652 10,937 72,490 10,937 162,966 10,937 207, 222 10,937 47,001 10,937 65,969 10,937 345,733 3 4 78,828 38,652 72,490 162,966 207, 222 47,001 65,969 346,733 5 Productive Funds of Iowa: June 30, 1894, to June 30, 1913. CASH AND SECURITIES ON HAND— continued. June 30, 1901. June 30, 1902.1 June 30, 1903. June 30, 1904.1 June 30, 1905. June 30, 1906. June 30, 1907.1 June 30, 1908. June 30, 1909.1 June 30, 1910. June 30, 1911.1 June 30, 1912. June 30, 1913. $6,589,010 $7,044,242 $6,888,446 $6,634,857 $6,190,723 $6,729,385 $6, 784, 629 $7,184,423 1 4,753,113 4,755,044 4,760,821 4,777,156 4,778,920 4,788,818 4,799,721 4,803,196 9 10,937 4,741,513 600 63 649,236 10,937 4,743,507 600 10,937 4,749,884 10,937 4,766,219 10,937 4,767,983 10,937 4,777,881 10,937 4,-788,784 10, 937 4,792,259 3 \ i? 6 666,456 672,646 677,090 665,050 686,778 686,818 686,818 7 648,100 1,136 1,186,661 666,450 6 1, 622, 742 669,400 3,246 1,454,979 677,000 90 1,180,611 664,950 100 746,753 686,750 28 1,253,789 681,300 5,518 1,298,090 686,800 18 1,694,409 s q 10 978 1,185,683 6,589,010 978 1,621,764 7,044,242 978 1,454,001 6,888,446 978 1,179,633 6,634,857 978 745,775 6,190,723 978 1,252,811 6,729,385 978 1, 297, 112 6,784,629 978 1,693,431 7, 184, 423 n i' 1? 10,937 4,741,513 648,700 978 1,186,882 10,937 4,743,507 667,050 978 1, 621, 770 10,937 4,749,884 669, 400 978 1,457,247 10,937 4,766,219 677,000 978 1,179,723 10,937 4,767,983 664,950 978 745,875 10,937 4,777,881 686, 750 978 1,252,839 10,937 4,788,784 681,300 978 1,302,630 10,937 4,792,259 686,800 978 1,693,449 11 15 16 17 108 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY GASH, A — Detailed Exhibit op the Indebtedness of KANSAS. CHAKACTEK AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest AMOUNT OUTSTANDING — Jiine 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. June 30, 1899. June 30, 1900. 1 Total .' 8983,153 1898,445 «792,194 $755,817 1701,625 $697,278 $756,328 Funded debt 2 801,000 752,000 682,000 682,000 632,000 632,000 692,000 Bonds: 1866 1867 1867 1868 1868 1868 1869 1869 1874 1875 1888 1889 1897 1898 1899 1899 1899 1902 1903 1904 1896 1897 1897 1898 1898 1898 1899 1899 1894 1895 1908 1909 1902 1903 1904 1901 1902 1911 1914 1914 7 7 7 7 7 7 7 7 7 7 4 4 4 4 4 4 4 4 4 4 3 70,000 100,000 100,000 150,000 50,000 20,000 70,000 89,000 12,600 36, 500 18,000 85,000 70,000 100,000 100,000 150,000 50,000 20,000 70,000 89,000 4 100,000 100,000 150,000 50,000 20,000 70,000 89,000 100,000 100,000 150,000 50,000 20,000 70,000 89,000 5 Capitol building fi 7 Construction of state penitentiary S Constniptinn of insane asylum 9 Capitol building 70,000 89,000 10 Militia contingent fund 11 Relief of destitute people on frontier 12 Indian War of 1874 and 1875 13 Funding 18,000 85,000 18,000 85,000 18,000 85,000 18,000 85,000 150,000 220,000 18,000 85,000 150,000 220,000 159,000 18,000 85,000 150,000 220,000 159,000 25,000 35,000 U 15 Ifi Rpfiinding * 17 Refunding 18 Penitentiary twine plant revolving fund Penitentiary twine plant revolving fund 19 20 21 Refunding issue of 1898 22 Refunding issue of 1899 23 Floatingdebt 182,153 146,445 110,194 73,817 69,025 05,278 04,328 74 182,153 146,445 110,194 73,817 69,625 65,278 64,328 B — Detailed Exhibit of Geneeal Treasury Cash and the Assets op FUND AND CHAEACTEE OF INVESTMENT. CASH AND SECURITIES ON HAND — June 3C 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, June 30, 1899. June 30, 1900. Total. Sinking fund United States consols of 1895.. Caslu Common school fund Kansas bonds County, municipal, and school district bonds. Cash University fund Kansas bonds County and school district bonds . Cash Agricultural college fund County, municipal, add school distxict bonds . Real estate mortgages Cash State normal school fund County, municipal, and school district bonds . Cash Stormont Medical Library fund Township and school district bonds . Cash General and special funds Oklahoma warrants County scrip (seed grain scrip). Cash Total. United States consols of 1895 Kansas bonds Olclahoma warrants County, municipal, township, and school district bonds. County scrip (seed grain scrip) Real estate mortgages Cash $7, 739, 192 $7,653,704 $7,529,096 $7,405,028 $7,601,472 $7,648,538 $8,023,699 336 367 367 1,339 ■1,339 6,154,8 6,209,685 367 6,246,491 367 6, 290, 238 536,000 5,670,140 48, 699 136, 699 487,000 5,575,332 147,353 138, 839 487,000 5,600,634 158,857 368 6,367,837 6, 478, 547 1,339 6,680,461 1-16,186,219 104,019 614,000 5, 797, 727 56, 110 144,518 9,000 122, 182 5,617 501,037 489, 659 6,294 5,084 146, 767 9,000 126, 656 3,283 501, 756 9,000 112, 707 18,960 11 6, 259, 440 219, 107 161,599 9,000 129, 251 3,786 602,943 9,000 133, 521 1,997 503,478 490, 123 6,294 6,339 148, 760 494, 137 6,294 1,535 494, 881 6,094 1,968 152, 908 141,592 6,175 5,000 146,487 2,273 139, 217 12,660 5,000 5,000 5,000 141,690 11,218 5,000 495, 062 6,094 2,322 157,323 9,000 139, 534 3,065 503,848 494, 984 6,034 2,830 182, 123 5,000 152, 647 4,676 5,000 168,052 14,071 794, 514 649,300 482, 738 311,535 16, 999 777, 515 7, 739, 192 97, 497 551,803 7,653,704 17,640 52,939 412, 159 7,529,096 4,700 300 422,948 5,000 326,082 23,328 46, 537 241,670 7,405,028 37, 825 38,744 346,379 7, 601, 472 33,946 34,097 258,039 7,648,638 496,000 6,328, 16, 6, 842, 6,343, 97, 710, 496, 000 17, 640 6,351,695 62, 939 6,294 604,528 1 9, 000 23,328 16,957,041 46, 537 6,094 363, 028 523,000 37, R25 6, 583, 667 38, 744 6,094 412, 162 1 9, 000 33, 94S 17,067,010 34, 097 6,034 498,451 683,000 5,917,133 80,328 149, 768 9,000 137, 736 3,032 504,848 476,998 5,534 23,316 206, 310 201,338 4,972 5,000 3,125 1,875 475,973 50, 738 29,386 395, 849 :, 023, 699 692,000 50, 738 1,735,330 29,386 5, 534 510,711 1 Some state bonds included with "county, municipal, township, and school district bonds." NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Kansas: June 30, 1894, to June 30, 1913. 109 KANSAS. AMOUNT OUTSTANDING — Continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $667,000 S632,000 S632,000 3632,000 $632,000 $632,000 $632,000 $623,000 $605,000 $620,000 $520,000 $370,000 $370,000 ] 667,000 632,000 632,000 632,000 632,000 632,000 632,000 623,000 605,000 620,000 520,000 370,000 370,000 1 /^ "■ *■ 6 ■ " 7 s 11 18,000 85,000 150,000 220,000 159,000 18,000 85,000 150,000 220, 000 159,000 18,000 85,000 18,000 85,000 18,000 85,000 18,000 85,000 18,000 85,000 18,000 85,000 13 85,000 14 1'i 220,000 159,000 ■ ■ 1 16 17 IS 35,000 1 1 19 150,000 1 LW nm 150, 000 220,000 159,000 150,000 220,000 159,000 150,666 220,000 159,000 150,000 211,000 159,000 150,000 211,000 159,000 150,000 211,000 159, 000 150,000 211,000 159,000 ''(1 220, 000 159, 000 211,000 159,000 211,000 159,000 ni *>? 1 1 1 1 1 Productive Funds of Kansas: June 30, 1894, to June 30, 1913. CASH AND SECDEIIIES ON HAND— Continued. June 30, 1901. June 30, 1902. June 30, 1908. June 30, 1904. June 30, 1906. June 30, 1906. June 30, 1907. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $8,087,014 $8,316, 183 $8,687,640 $8,880,994 $9,177,687 $9,162,937 $9,918,610 $10,407,061 $10, 864, 873 $10,865,218 $11,462,257 $11,425,618 $11,989,925 10,000 10,000 33, 129 43,129 74,129 108, 000 83,000 145,959 76, 879 126,879 i6,'666' 7,505,643 16,' 666" 7, 710, 176 23,000 10, 129 8,019,913 23,000 20,129 8,348,306 23,000 51,129 8, 680, 513 23,000 86,000 8,779,419 23,000 60,000 8,967,881 23,000 122, 959 9,188,012 23,000 53,879 9, 297, 326 23,000 103,879 9,394,704 6,817,435 7,024,344 7,279,467 623,000 6,032,818 161,617 149,420 9,000 136,632 3,788 491,181 623,000 6,191,352 209,992 149,964 623,000 6,618,352 38, 115 160,-219 623,000 6,754,021 128, 622 149,409 623,000 6,930,330 156, 846 149,409 623,000 7,360,112 36, 801 152,409 623,000 7, 629, 495 95,811 151,409 623,000 7, 834, 456 123, 057 161,409 606,000 8,161,452 12,967 151,409 620, 000 8,398,736 49,145 161, 409 520,000 8,611,919 56,093 151,409 370, 000 8,837,862 89,464 151,409 370,000 8,971.704 53,000 151,409 f i £ 9,000 132, 867 8,097 491,181 9,000 140,458 761 492,381 9,000 137,639 2,770 492,381 9,000 137,200 3,209 493, 266 9,000 141,715 1,694 492,456 9,000 141, 470 939 494, 456 144,060 7,359 492,382 146,320 6,089 605,049 145,410 5,999 605,049 147,556 3,859 505,049 i48,656 3,359 505,049 140,625 10, 7M 503,649 1) 15 i: 472,600 5,434 13,147 207,977 471,232 4,834 16,115 218, 718 476,957 4,834 10,690 219,143 487,339 4,834 208 222,647 477,072 4,834 11,350 228, 696 485,308 4,834 2,314 240,660 476,317 4,834 13,305 248,883 485,278 1,400 5,704 253,231 499, 470 1,400 4,179 254,286 495,096 1,400 8,653 264, 893 480, 143 1,400 23,506 255,393 500,965 1,400 2,684 265,393 491,747 1' 1 11,902 255,443 le 1' 201,428 6,549 5,000 204, 404 14,314 5,000 216, 225 2,918 5,000 219,870 2,677 6,000 210,415 18,281 6,000 239,765 896 5,000 245,130 3,753 5,000 244,580 8,651 5,000 245,595 8,691 5,000 251,035 3,868 6,000 251,662 3,731 6,000 250,932 4,461 5,000 253,772 1,671 5,000 If i< 2( 4,375 626 416,001 4,475 525 426,976 4,700 300 441,430 4,650 350 496,014 4,360 640 581,150 3,120 1,880 219,370 4,280 720 627,427 4,040 960 850,397 4,600 400 1,061,710 4,200 800 897,986 3,300 1,700 1,211,435 4,200 800 1,1.34,562 3,800 1,200 1,552,841 2 2. 2. 27, 970 19,682 379,324 8,316,183 24,657 19,682 397, 191 8,587,640 24,101 391,900 8,087,014 6,777 490,237 8,880,994 3,586 577,564 9,177,687 1,997 217,373 9,162,937 1,818 625,609 9,918,610 1,796 848,801 10,407,061 1,006 1,060,704 10,864,873 175 897,811 10,865,218 9 1,211,435 11,462,257 1,134,662 11,425,618 1,562,841 11,989,925 2 2 23,000 632, 000 23,000 632,000 23,000 623,000 23,000 605,000 23,000 520,000 23,000 620,000 23,000 370,000 23,000 370,000 o 632,000 632,000 27,970 7,-004,330 19,682 4,8.34 627,367 632, 000 24,557 7,456,692 19,682 4,834 449,875 632,000 632,000 2 6,847,853 24,101 5,434 577,626 7, 603, 519 6,777 4,834 634, 864 7,769,377 3,586 4,834 777,890 8,230,020 1,997 4,834 271,086 8,496,692 1,818 4,834 760,266 8,712,404 1,796 1,400 1,046,461 9,057,437 1,006 1,400 1,177,030 9,294,477 175 1,400 1,026,166 9,494,574 9,742,009 9,861,648 3 1,400 1,423,283 1,400 1,289,209 1 1,736,277 3 110 WEALTH, DEBT, AND TAXATION. Table I — DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op KBNTTJCKY. CHABACTEB AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Rats of in- terest. AMOUNT OUTSTANDINQ— June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. Jime 30, 1899. June 30, 1900. 1 Total 13,244,980 $3,146,889 $2,936,030 $3,298,148 $4,022,741 $3,883,945 $3,753,472 Funded debt a 2,996,030 2,965,030 2,936,030 2,965,030. 3,487,030 3,487,030 3,487,030 Bonds: Ceased. 6 4 4 6 6 6 6 3 6,394 174,000 500,000 6,394 143,000 600,000 6,394 114,000 600,000 6,394 143,000 500,000 6,394 6,394 6,394 4 1864 1885 1897 1870 1885 1892 1897 1896 1905 1907 Perpettial. Perpetual. Perpetual. Perpetual. 5 Current expense 500,000 500,000 1,327,000 381,986 606,660 165,000 535, 711 500,000 500,000 1,327,000 381,986 606,650 165,000 396,915 500,000 600,000 1,327,000 381,986 606,650 165,000 266,442 6 Funding 7 Special debt obligations to public trust funds: 1,327,859 381,859 606,650 1,327,000 381,986 606,650 1,327,000 381,986 606,650 1,327,000 381,986 606, 650 8 9 School fund (surplus school revenue due counties). Schoolfund 10 Agricultural college and normal school fund. Floating debt 11 248,950 181,869 333, 118 Temporary loans (deficit) n 248,950 181,859 333, 118 514,371 21,340 360,575 36,340 266,442 13 Outstanding warrants B — Detailed Exhibit of General Trbasurt Cash and the Assets of FUND AND CHAKACTEE OF INVESTMENT. CASH AND 3ECUBITIE3 ON HAND — June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. June 30, 1899. June 30, 1900. 1 Total $3,266,669 $3,198,417 $2,829,325 $3,001,576 $3,254,483 $3,395,559 $3,405,926 Sinkingfund ?. 712,433 666,281 300,252 469, 440 700,347 841,423 851,790 Kentucky warrants 3 21,340 514,371 24,360 100,000 40,276 2,389,136 36,340 360,575 24,360 26,000 395, 148 2,389,136 4 General umd overdrafts 181,983 30,450 500,000 139,891 26,390 500,000 333, 118 24,360 100,000 11,962 2,389,136 266,442 5 Bank stock 24,360 100,000 175,892 2,389,136 fi Turnpike stock 15,000 570,348 2,389,136 7 Cash 8 School fund 2,389,136 2,389,136 Special debt obligations to public trust funds Q 2,316,636 73,500 2,316,636 73,500 2,315,636 73,600 2,315,636 73,600 2,315,636 73,500 2,315,636 73,500 2,316,636 73,500 in Bank stock " 11 Cash 12 165,000 143,000 114,000 143,000 165,000 165,000 166,000 Kentucky bonds 13 165,000 143,000 114,000 143,000 14 165,000 165,000 165,000 1.^ Cash Ifi General and special funds 25,937 Cash 17 26,937 2,829,325 IS Total 3,266,569 3,198,417 3,001,576 3,254,483 3,395,559 3,405,926 Kentucky bonds 19 165,000 2,315,636 143,000 2,315,636 114,000 2,315,636 143,000 2,315,636 ■'0 Special debt obligations to public trust funds 2,480,636 21,340 514,371 97, 860 100,000 40,276 2,480,636 36,340 360, 575 97,860 26,000 395, 148 2,480,636 21 Kentucky warrants f> 181,983 103,960 500,000 139,891 99,890 500, 000 333,118 97,860 100,000 11,962 266,442 73,500 15,000 670, 348 'I Bank stock 97,860 100,000 201, 829 ''4 Turnpike stock . . ■"i Cash 1 Value o! turnpike stock not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Kentucky: June 30, 1894, to June 30, 1913. kbntitcky. Ill AMOUNT OUTSTANDING — Continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $3,891,030 $4,472,116 $2,731,662 $2,719,450 $2,682,535 $2,786,464 $2,990,138 $2,726,541 $3,226,860 $3,884,959 $4,013,765 $4,288,458 $4,452,174 1 3, 487, 030 3,487,030 2,523,021 2,623,021 2,613,021 2,513,021 2,613,021 2,487,021 2,487,021 2,487,021 2,487,021 2,487,021 2, 487, 021 2 6,394 6,394 6,394 6,394 6,394 6,394 6,394 6,394 6,394 6,394 6,394 6,394 6,394 3 4 500,000 500,000 1,327,000 381,986 606,650 166,000 404,000 600,000 500,000 1,327,000 381,986 606,650 165,000 985,086 10,000 26,000 1,327,000 381,986 606,641 166,000 208,541 10,000 26,000 1,327,000 381,986 606,641 165,000 196, 429 5 26,000 1,327,000 381,986 606,641 166,000 169,514 26,000 1,327,000 381,986 606,641 165,000 273,443 26,000 1,327,000 381,986 606,641 166,000 477,117 fi 1,327,000 381,986 606,641 166,000 239,620 1,327,000 381,986 606,641 165,000 739,829 1,327,000 381,986 606,641 165,000 1,397,938 1,327,000 381,986 606,641 165,000 1,526,734 1,327,000 381,986 606,641 165,000 1,801,437 1,327,000 381,986 606,641 166,000 1, 966, 163 7 8 9 10 11 404,000 985,086 112, 402 96, 139 187,358 9,071 164,914 4,600 273,441 2 476, 118 999 149,852 89, 668 189,290 550,539 110,244 1,416,490 1? i, 397, 938 1,801,437 1,965,153 11 Productive Funds of Kentucky: June 30, 1894, to June 30, 1913. CASH AND SECURITIES ON HAND — continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $3,233,054 $3,711,913 $2,991,317 $3,100,571 $3,160,984 $3,150,620 $3,324,488 $2,837,368 $3,099,160 $2,975,058 $3,020,661 $2,854,677 $2,916,031 678,918 1,157,777 321,648 546, 444 642, 447 550, 873 671,460 71,503 109, 170 140,421 189,552 32,236 10,307 404,000 985,086 10,000 264,918 2,389,136 3,000 169,691 2,389,136 C) 321,548 2,389,127 (') 546,444 2,389,127 642,447 2,453,537 650,873 2,434,747 571,460 2,588,028 71,503 2,600,856 109,170 2,824,980 0) 140,421 2,597,636 189,552 2,666,109 32,236 2,626,887 10,307 2,671,696 2,316,636 73,600 2,315,636 73,500 2,316,627 73,500 2,315,627 73,600 2,316,627 73,600 64,410 165,000 2,316,627 73,500 45,620 165,000 2,315,627 73,500 198,901 165,000 2,316,627 73,500 211, 728 165,000 2,315,627 73,500 435,863 165,000 2,315,627 73,500 208,409 180,022 2,315,627 73,500 276,982 165,000 2,315,627 73,500 136, 760 165,958 2,315,627 73,500 282,569 167,981 165,000 165,000 165,403 166,000 166,000 .165,000 165,000 403 115,239 166,000 165,000 165, 000 165,000 165,000 165,000 165,000 15,022 67,079 165,000 165,000 958 130,596 165,000 2,981 66,047 116,239 2,991,317 57,079 2,975,068 130,596 2,864,677 66,047 2,916,031 3,233,064 3,711,913 3,100,571 3,160,984 3,150,620 3,324,488 2,837,358 3,099,150 3,020,661 2,480,636 2,480,636 2,480,627 2,480,627 2,480,627 2,480,627 2,480,627 2,480,627 2,480,627 2,480,627 2,480,627 2,480,627 2,480,627 404,000 73,600 10,000 264, 918 986,086 73,600 3,000 169,691 73 500 437, 190 73,600 (4 646, 444 73,500 606,867 73,600 C) 696,493 73,600 (') 770,361 73,500 (') 283,231 73,500 645, Ce3 73,500 420,931 73,500 466,534 73,600 (') 300,550 73,600 361,904 112 WEALTH, DEBT, AND TAXATION. Table I DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness of liOTJISIANA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Bate of in- terest. AMOUNT OUTSTANDING— Mayl, 1894. Mayl, 1895.1 Mayl, 1896. Apr. 1, 1897.1 Apr. 1, 1898. Apr. 1, 1899.1 Apr. 1, 1900. 1 Total J14,531,264 513,845,858 513,669,015 $13,605,077 Funded debt., ? 14,177,796 13,580,724 13,412,317 13,361,672 Bonds: 1S74 1880 (') m 1914 1914 O Perpetual. Perpetual. Perpetual. 4 4 (') 4 4 4 s 11,105,400 217, 600 1,405,615 1,130,868 136,000 182,313 353,468 10,934,200 156,300 1,041,043 1,130,868 136,000 182,313 265,134 10,776,100 150,300 1,036,736 1,130,868 136,000 182,313 256,698 10,776,100 J01,700 1,034,691 1,130,868 136,000 182,313 243,405 4 Refunding and funding 5 6 Special debt obligations to public trust funds: ■p^pp pnhnnl.fnnd , , . 8 Agricultural and mechanical college fund Floating debt q in 169, 626 183,842 146, 806 118,328 141,520 115,178 136,802 106,603 11 Warrant*; 1? B — Detailed Exhibit of General Treasury Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND— Dec. 31, 1893. Deo. 31, 1894. Dec. 31, 1895. Dec. 31, 1896. Dec. 31, 1897. Dec. 31, 1898. Dec. 31, 1899. 1 Total S2, 906, 274 $2,330,195 $2,523,143 $2,424,390 $2,464,099 $2,488,083 $2,684,566 FrpA poTinnI fimH ■> 1,350,637 1,366,524 1,380,130 1,393,768 1,409,829 1,436,765 1,459,410 Louisiana bonds ... s 209,830 1,130,868 220,830 1,130,868 230,830 1,130,868 250,830 1,130,868 260,830 1,130,868 273,830 1,130,868 273,830 1,130,868 4 .c;pp.nia.l dftht nhlij^atinnti tn pnhlifl tm<5t funds . S T.ftvpo Hist.rict bonds 6 9,939 136,000 14,826 136,000 18,432 136,000 12,070 136,000 18,131 136,000 32,067 136,000 54,712 136,000 7 RpTninary fund . R 136,000 182,313 136,000 182,313 136,000 182,313 136,000 182,313 136,000 182,313 136,000 182,313 136,000 182,313 q in 182,313 182,313 182,313 182,313 182,313 182,313 182,313 11 Private trust fund 19 n 1,237,324 645,358 824,700 712,309 735,957 733,005 906,843 Cash 14 1,237,324 2,906,274 646,358 2,330,195 824,700 2,523,143 712,309 2,424,390 735,957 2,464,099 733,005 2,488,083 906,843 2,684,566 I"! Total 16 209,830 1,449,181 220,830 1,449,181 230,830 1,449,181 260,830 1,449,181 260,830 1,449,181 273, &!0 1,449,181 273,830 1,449,181 17 IS 11 Cash 1,247,263 660, 184 843, 132 724,379 754,088 765,072 961, 555 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Louisiana: Mat 1, 1894, to December 31, 1912. LOUISIANA. 113 AMOUNT OUTSTANDING — COntillUed. Mao-. 1, 1901.1 Mar.l, 1902. Mar. 1, 1903.1 Mar. 1, 1904. Mar. 1, 1905.1 Mar. 1, 1906. Mar. 1, 1907.1 Mar. 1, 1908. Mar. 1, 1909.1 Mar, 1, 1910. Mar. 1, 1911.1 Mar. 1, 1912. Deo. 31, 1912. S13, 592, 795 $13,690,945 S13,687,977 $13,686,972 513,686,963 $13,685,963 $13,546,160 1 13,359,807 13,589,682 13, 588, 752 13,588,752 13,588,762 13,688,752 13,468,209 •}. 10,776,100 101,700 1,032,826 1,130,868 136,000 182,313 232,988 11,006,600 101, 700 1,032,201 1,130,868 136,000 182,313 101, 263 11,006,600 101,700 1,031,271 1,130,868 136,000 182,313 99,226 11,006,600 101,700 1,031,271 1,130,868 136,000 182,313 98, 220 11, 006, 600 101,700 1,031,271 1,130,868 136, 000 182, 313 98, 211 11,006,600 101,700 1,031,271 1,130,868 136,000 182,313 97, 211 11,006,600 101, 700 910, 728 1,130,868 136,000 182,313 77,941 S A 5 fi 7 8 \ 9 128,327 104,661 10 101, 263 99,225 98,220 98,211 97,211 76,324 1,617 ir 1^ Productive Funds of Louisiana: December 31, 1893, to December 31, 1912. CASH AND SECURITIES ON HAND— Continued. Deo. 31, 1900. Deo. 31, 1901. Deo. 31, 1902.1 Dec. 31, 1903. Deo. 31, 1904.1 Dec. 31, 1905. Dec. 31, 1906.1 Dec. 31, 1907. Dec. 31, 1908.1 Dec. 31, 1909. Dec. 31, 1910.1 Dec. 31, 1911. Deo. 31, 1912. S3, 163, 702 S3, 270, 816 $2,966,244 $3,349,988 S3, 660, 333 $3, 264, 806 $3,562,579 $3,633,164 1 1,555,071 1,592,461 1,748,406 1,838,345 1,999,800 2,218,510 2,418,049 2, 367, 161 9. 273,830 1, 130, 868 136,000 15,373 136,000 273,830 1, 130, 868 136,000 52,763 136,000 273,830 1,130,868 292,000 51,708 136,000 273,830 1,130,868 391,000 42,647 136,000 273, 830 1,130,868 518,000 77,102 136,000 312, 830 1,130,868 634,000 140, 812 136,000 401,330 1,130,868 726,000 159, 851 136,000 1,130,868 1,233,948 2,346 136,000 3 4 5 R 7 136,000 152,313 136,000 182,313 136,000 182,313 136,000 182,313 136,000 182,313 136,000 182,313 136,000 182,313 136,000 182,313 S 9 182,313 182,313 182,313 182,313 182,313 182, 313 182,313 182,313 1,617 lO 11 1,617 846,063 12 1,290,318 1,360,042 899, 526 1, 193, 330 1,342,220 717,983 826,217 13 1,290,318 3,163,702 1,360,042 3,270,816 899,625 2,966,244 1,193,330 3,349,988 1,342,220 3,660,333 717,983 3,254,806 826,217 3,562,579 846, 063 3,533,154 14 I'i 273,830 1,449,181 135,000 1,305,691 273,830 1,449,181 135,000 1,412,805 273,830 1,449,181 292,000 951,233 273,830 1,449,181 391,000 1,235,977 273,830 1,449,181 518,000 1,419,322 312,830 1,449,181 634,000 858,795 401,330 1,449,181 726,000 986,068 (?) 1, 449, 181 1,233,948 850,025 16 17 18 19 ^Includedin "levee district bonds." Unable toseparate. 28652°— 14- 114 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed ^Exhibit of the Indebtedness op MAINE. CHARACTER AND PURPOSE OF ISSUE. Total. Funded debt. Bonds; Bonds pa.st due Refunding ., Special debt obligations to Indian tribes: Penobscot Indian fund Passamaquoddy Indian fund Special debt obligations to public trust funds: Permanent scbool fund Madawaslca territory^ fund Madison scHool district fund Agricultural college fund Agricultural college fund (Cobum legacy) Foxcroft Academy fund Hebron Academy fund Houlton Academy fund Public land fund Insane hospital fund (Cobum legacy) Insane hospital fund (Williams legacy) Reform school fund (Santord legacy) Insane hospital fund (Oilman legacy) Industrial school for girls (Hopkins legacy) Industrial school tor girls (Mustard legacy) Industrial school for girls (Lane legacy) Industrial school for girls (Shaw legacy) Education of deaf, dumb, and blind (Sajiford legacy). Jordon forestry fund Penobsoot and Passamaquoddy Indian funds . , Floating debt. . Year of issue. 1889 Temporary loans Outstanding warrants. Year of ma- turity. Rate of in- terest. Ceased. AMOXJNT OUTSTANDmG- Deo. 31, 1893. 53,295,289 3,195,289 700 2,184,000 73,828 30,698 442, 768 5,000 1,000 118, 300 100,000 1,000 1,000 2,000 184,305 50,000 700 100,000 100,000 53,149,033 3,149,033 700 2,134,000 73,828 32,614 442,758 5,000 1,000 118,300 100,000 1,000 1,000 2,000 186, 133 50,000 700 Dec. 31, 1895. $3,101,331 3,101,331 700 2,084,000 73, 828 32,996 442, 758 5,000 1,000 118,300 100,000 1,000 1,000 2,000 188,049 50,000 700 Dec. 31, 1896. $3,066,311 3,050,311 700 2,034,000 73,828 34,995 442,758 6,000 1,000 118, 300 100,000 1,000 1,000 2,000 191,030 50,000 700 Dec. 31, 1897. $3,208,298 3,008,298 700 1,984,000 73,828 34,995 442,758 5,000 1,000 118,300 100,000 1,000 1,000 2,000 193,017 60,000 1,000 700 200,000 200,000 Deo. 31, 3,118,471 2,966,471 700 1,934,000 73,828 36,495 442,768 5,000 1,000 118,300 100,000 1,000 1,000 2,000 197,690 60,000 1,000 700 150,000 Dec. 31, 1899. .$3,272,758 2, 922, 758 700 1,884,000 73,828 37, 495 442,768 5,000 1,000 118,-300 100,000 1,000 1,000 2,000 203,977 60,000 1,000 700 350,000 350,000 B — Detailed Exhibit of Geneeal Treasury Cash and the Assets of FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND — Dec. 31, 1893. Dec. 31, 1894. Dec. 31, 1896. Dec. 31, 1896. Dec. 31, 1897. Dec. 31, 1898. Dec. 31, 1899. 1 Total .... SI. 241. 780 $1,366,087 $1,200,048 $1,116,289 $1,067,125 $1,075,172 $1,126,257 Special debt obligations to public trust funds: Permanent school fund ... 442, 758 5,000 1,000 218,300 1,000 1,000 2,000 700 50,000 184,305 442,758 5,000 1,000 218,300 1,000 1,000 2,000 700 50,000 186,133 442,758 5,000 1,000 218,300 1,000 1,000 2,000 700 50,000 188,049 442,758 6,000 1,000 218,300 1,000 1,000 2,000 700 60,000 191,030 442,758 6,000 1,000 218,300 1,000 1,000 2,000 700 51,000 192,017 442,758 5,000 1,000 218,300 1,000 1,000 2,000 700 61,000 197,690 442,758 5,000 1,000 218,300 1,000 1,000 2,000 ,700 51.000 203; 977 ^ 4 MaflisriTi Rnhonl riistrint fnnri «1 Agricultural college fund fi 7 Hebron Academy fund ... fi 10 Insane hospital fund.. . . . n 1? IS V.Hnnatinn nf dpaf, tinmh^ anrl blinfl fnnd 14 15 16 Trust funds: Robie fund 17 1R Carleton orcharding fund Railroad bonds Ifl '>() Cash 21 General and special funds 335,717 458,196 290,241 203,501 152,360 164,724 199,622 22 335,717 1,241,780 468,196 1,366,087 290,241 1,200,048 203,501 1,116,289 152,350 1,067,125 154,724 1,075,172 199,522 1,126,267 Special debt oblif'ations to public trust funds 24 906,063 907,891 909,807 912,788 914,775 920,448 926, 735 Railroad bonds 27 335,717 458, 196 290,241 203,501 162,360 164,724 199,522 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AXD THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Maine: December 31, 1893, to December 31, 1912. MAINE. 115 AMOUNT OUTSTANDING— continued. Dec. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Dec. 31, 1904. Dec. 31, 1905. Dec. 31, 1906. Dec. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Dec. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. 13,234,594 53,097,002 52,826,635 $2,947,671 52,243,256 $2,342,816 $1,966,765 $1,730,801 $1,573,244 $1,836,502 $2,307,450 $1,937,249 $1,254,998 1 2,884,694 2.847,002 2,785,383 2,720,808 2,216,952 2,213,969 1, 940, 448 1,560,448 1,673,244 1,694,216 1,622,805 1,637,249 1,254,998 2 700 1,834,000 73,828 38,495 442,768 5,000 1,000 118,300 100,000 1,000 1,000 2,000 214,813 60,000 1,000 700 700 1,784,000 73,828 37,495 442,758 5,000 1,000 118,300 100,000 1,000 1,000 2,000 228,221 60,000 1,000 700 700 1,714,000 (.') 442,768 5,000 1,000 118,300 100,000 1,000 1,000 2,000 239,102 60,000 1,000 700 700 1,644,000 700 1,134,000 700 1,111,000 700 824,000 700 444,000 700 429,000 700 429,000 700 429,000 700 407,000 700 3 4 6 6 442,768 6,000 1,000 118,300 100,000 1,000 1,000 2,000 245,525 60,000 1,000 700 442,758 5,000 1,000 118,300 100,000 1,000 1,000 2,000 262,671 50,000 1,000 700 446,625 5,000 1,000 118,300 100,000 1,000 1.000 2.000 269,021 50,000 1,000 700 1,000 446,625 5,000 1,000 118,300 100,000 1,000 1,000 2,000 281,900 60,000 1,000 700 1,000 445,625 5,000 1,000 118,300 100,000 1,000 1,000 2.000 281,900 60,000 1,000 700 1,000 446,712 5,000 1,000 118,300 100,000 1,000 " 1,000 2,000 309,263 60,000 1,000 700 1,000 446,915 5,000 1,000 118,300 100,000 1,000 1,000 2,000 322,763 50,000 1,000 700 1,000 1,000 3,912 1,167 463,946 5,000 1,000 118,300 100,000 1,000 1,000 2,000 338,163 50,000 1,000 700 1,000 1,000 3,912 1,157 4,750 600 1,000 107,678 684,646 470,383 5,000 1,000 118,300 100,000 1,000 1,000 2,000 366,604 60,000 1,000 700 1,000 1,000 3,912 1,167 4,750 600 1,000 109,243 300,000 471,544 6,000 1,000 118,300 100,000 1,000 1,000 2,000 379,800 60,000 1,000 700 1,000 1,000 3,912 1,167 4,750 600 1,000 109,535 7 S 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 600 600 600 600 1,000 107, 169 242,286 24 ?5 108,823 41,262 107,823 226,865 106,823 26,304 106,623 128,847 106,623 26,317 106,623 170,363 106,969 26 350,000 250,000 ?7 350,000 250,000 300,000 384,645 300,000 28 41,252 226,865 26,304 128,847 26,317 170, 353 242,286 ?9 Productive Funds of Maine: December 31, 1893, to December 31, 1912. CASH AND SECUEITIES ON HAND— continued. Dec. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Dec. 31, 1904. Dec. 31, 1905. Dec. 31, 1906. Deo. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Dec. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. $1,136,450 $1,248,816 $1,509,576 $1,713,784 SI. 327, 392 $1,532,516 $1,713,719 $1,695,215 $1,712,078 $1,240,340 $1,328,827 $1,736,862 $1,716,579 1 442,758 5,000 1,000 218,300 1,000 1,000 2,000 700 51,000 214,813 442,758 5,000 1,000 218,300 1,000 1,000 2,000 700 61,000 228,221 442,758 5,000 1,000 218,300 1,000 1,000 2,000 700 61,000 239,102 442,758 6,000 1,000 218, 300 1,000 1,000 2.000 700 51.000 246.625 442,758 5.000 1.000 218.300 1,000 1.000 2.000 700 61,000 252,671 446.625 6.000 1,000 218.300 1,000 1.000 2.000 700 52.000 269,021 445.625 5.000 1.000 218,300 1.000 1.000 2.000 700 52,000 281,900 445,625 5.000 1.000 218,300 1,000 1,000 2,000 700 62,000 281.900 445,712 5,000 1,000 218.300 1,000 1,000 2,000 700 52,000 309,263 446,916 5,000 1.000 218,300 1.000 1,000 2,000 700 62,000 322,763 6.069 600 1.000 107.169 453,946 5.000 1.000 218.300 1,000 1.000 2,000 700 52.000 338,163 10.819 600 1,000 107,578 470,383 6.000 1.000 218.300 1.000 1.000 2,000 700 62.000 356.604 10.819 600 1.000 109,243 4.000 471,544 6.000 1.000 218.300 1,000 1,000 2,000 700 52.000 379.800 10.819 600 1.000 109.535 4.000 2 3 4 5 6 7 8 9 10 11 !•? 600 600 600 11 14 108.823 107,823 106,823 106.623 106,623 106,623 106,969 l.'i If 4.000 1.100 4.000 1.152 n If 1,000 100 502,203 1,000 162 457,129 ic ?r 198,879 297,837 438.893 637, 678 245,140 430,246 697,971 479,467 568.534 75,824 135,722 21 198,879 1,136,460 297,837 1,248,816 438,893 1,509,676 637.678 1,713,784 245,140 1,327.392 430.246 1,532,615 597.971 1,713,719 479,467 1,695,215 668,634 1.712.078 76.824 1,240,340 135.722 1,328,827 602.203 1,736,862 467,129 1.716,-679 2: 2: 937,571 950,979 1, 070, 683 1,076,106 1,082,262 1, 102, 269 1,116,748 1,116.748 1.143,644 1,164,616 1,193,105 1,229,549 1,000 4,000 502,303 1,254,298 1,000 4,000 467,281 24 9' ?f 198,879 297,837 438,893 637,678 245.140 430.246 697,971 479,467 568,534 75,824 135,722 2- 2 Shown as "public trust fund" after 1901. 116 •WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhtbit of the Indebtedness or MAKYLAND. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING — Sept. 30, 1893. Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1896. Sept. 30, 1897. Sept. 30, 1898. Sept. 30, 1899. 1 Total i J8, 693, 786 $8,693,786 88,693,786 S9, 292, 641 $9,292,641 $9,292,641 $6,716,981 9. Fundeddebt 8,693,786 8,693,786 8,693,786 9,292,641 9, 292, 641 9,292,641 5,716,981 Bonds; Ceased. 3.65 3 3 3 3 3.5 3.5 3 3 3 3.5 3.5 3.5 3.5 3.5 4 4 3.5 3.5 4 4 4 R 8,800 3,000,000 628,355 1,270,474 3,079,400 706,757 8,800 3,000,000 628,355 1,270,474 3,079,400 706, 757 8,800 3,000,000 028, 355 1,270,474 3,079,400 706,757 7,656 3,000,000 628, 355 1,270,474 3,079,400 706, 757 500,000 100, 000 7,655 3,000,000 628,355 1,270,474 3,079,400 706,757 600,000 100,000 7,655 3,000,000 628,355 1, 270, 474 3,079,400 706,767 600,000 100,000 7,655 4 1882 1886 1886 1888 1890 1896 1896 1899 1900 1902 1904 1908 1909 1910 1911 1911 1911 1911 1912 1912 1912 1912 1899 1900 1901 1903 1905 1911 1911 1914 1915 1917 1919 1923 1924 1925 1926 1926 1926 1926 1927 1927 1927 1927 "i Eefimding canal and deaf and dumb asy- lum loans. ■R.fifnnf1ini/ Inan nf 1879 fi 7 8 Refunding railroad and canal subsidy loans of 1838 (exchange loan of 1889). 7,400 fl State penitentiary..,, 666,666 100,000 5,101,928 10 11 Refunding (consolidated loan of 1899) Penitentiary and state hospital (state building and improvement loan). Statehouse annex, armory, and house of correction annex (state loan of 1902). 1? 1 n 14 1S in 1 17 1 18 14 1} Vf Vi 1 04 State roads (state loan 1912, series A and B) . 1 *>"> 1 I B — Detailed Exhibit of General Treasury Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND — Sept. 30, Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1898. Sept. 30, 1897. Sept. 30, Sept 30, 1899. Total... Sinking fund. Maryland bonds. . County bonds Municipal bonds. . Railroad bonds... Cash Scboolfund. Maryland bonds Municipal bonds Railroad stock Bank stock Sewer bonds Street railway bonds . Cash General and special funds.. Municipal bonds Railroad mortgages Railroad stock Canal bonds Turnpike stock Aimapolis Water Company stock . Bank stock Real estate mortgage Cash Total. Maryland bonds County bonds Municipal bonds Railroad mortgages Railroad stock Canal bonds Turnpike stock Annapolis Water Company stock . Bank stock Real estate mortgage Street railway bonds 38 Sewer bonds 39 Cash $7,733,483 $7,056,626 $7, 582, 776 $8,029,951 2, 873, 944 3,163,263 3,542,263 3,849,963 2, 158, 563 "'7i5,"38i' 2,385,063 "'778,'266' 2,764,063 "'778,' 266' 3,113,763 "'736,' 266' 423,637 424,119 420,275 420, 275 35,980 146, 619 118, 100 117,395 35,980 146, 800 118, 100 117,395 35,980 146, 800 118, 100 117,395 35, 980 146,800 118,100 117,395 4,435,902 5,844 3,468,244 3,620,238 3, 759, 713 716, 381 1,600,000 650, 000 1,000,000 778,200 1,500,000 650,000 778, 200 1,500,000 550,000 736, 200 1,600,000 650,000 30,000 46,470 25, 000 569,061 7,733,483 13,600 30,000 46,470 11,000 30, 000 46,470 550,074 7,055,626 11,000 "46,' 470 ' 916,' 043 7, 582, 776 8,029,951 2,194,643 2,421,043 2,800,043 3,149,743 1,577, 1, 500, 668, 1,000, 1,703,200 1,500,000 668, 100 1,703,200 1,500,000 668, 100 1,619,200 1,600,000 668, 100 30, 163, 25, 13, 600 30,000 163, 865 11,000 30,000 163,865 11,000 163,865 674, 594 656, 918 706,668 $7, 964, 713 $7,240,027 $4,256,851 4, 228, 438 4,664,489 3, 727, 238 "'hoi', 200 4, 167, 190 "'497,' 299 420, 466 421, 717 35, 980 146,800 118, 100 117,395 35,980 146, 800 118, 100 108, 270 3, 315, 809 2,153,821 501, 200 1,500,000 550,000 1, 500, 000 ■11,000 "46,"4f6 "767,'i39 11,000 30,000 46, 470 7,964,713 7,240,027 3,763,218 4, 203, 170 1,149,200 1,500,000 668, 100 146, 800 1,600,000 118,100 11,000 163,866 11,000 30, 000 164, 740 974,813 600,000 436,642 35,980 146,800 118, 100 108,270 27,492 2,845,396 1,500,000 560,000 11,000 30,000 46,470 4,266,861 635,980 146,800 1,500,000 668, 100 11,000 30,000 164,740 709,330 1,076,217 I This $740,000 is the sum of the two loans, scries A and B. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OP STATES: 1893 TO 1913— Continued. Maryland: September 30, 1893, to September 30, 1912. maryland. 117 AMOUNT OUTSTANDraG — Continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1905. Sept. 30, 1906. Sept. 30, 1907. '%.'"' Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, S12. $6,316,981 $6,516,981 $6,916,981 $7,109,581 $7,934,581 $8,534,681 $6,175,581 $5,986,581 $6,086,681 36,726,681 $7,637,581 $10,436,581 $13,035,750 1 6,316,981 6,516,981 6,916,981 7,109,581 7,934,681 8,534,581 6,175,581 5,986,681 6,086,681 6,726,581 7,537,681 10,436,681 13,035,760 2 7,655 7,655 7,655 7,655 7,655 7,655 7,655 7,665 7,655 7,656 7,656 7,655 7,655 3 ft 5 6 7,400 7,400 7,400 7 8 500,000 100,000 5,401,926 300,000 500,000 100,000 5,401,926 500,000 500,000 100,000 5,401,926 500,000 400,000 500,000 100,000 6,401,926 500,000 600,000 500,000 100,000 6,401,926 500,000 600,000 825,000 500,000 100,000 5,401,926 600,000 600,000 1,426,000 248,000 9 in 3,253,926 600,000 600,000 1,566,000 3,253,926 600, 000 600,000 1,625,000 3,253,926 500,000 600,000 1,625,000 100,000 3,253,926 500,000 600,000 1,626,000 1 1740,000 3,253,926 500,000 600,000 1,625,000 / 500,000 \ 1,000,000 61,000 3,253,926 500,000 600,000 1,625,000 500,000 1,000,000 1,000,000 1,000,000 250,000 600, 000 100,000 3,191,095 500,000 600,000 1,618,000 500,000 1,000,000 1,000,000 1,000,000 250,000 600,000 40,000 990,000 250,000 1,000,000 489,000 11 12 It III 1*1 16 17 18 19 'ft ■"I 1 4 ( ■ "t 1 '■t 1 ?*) 1- Productive Ptjnds of Maryland: September 30, 1893, to September 30, 1912. CASH AND SECUEITIES ON HANI>— continued. Sept. 30, 1900. ■ Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1905. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $4,746,432 $5,293,222 $5,775,369 $6,113,397 $6, 750, 494 $7,422,484 $7,327,016 $7,248,742 $7,418,348 $7,829,016 $7,675,208 $8,666,024 $9,548,687 1 1,286,587 1,709,512 1,974,687 2,347,762 2,646,587 3,301,687 3,742,255 3, 828, 556 4, 124, 812 4,451,480 4,721,480 5,117,380 5,701,837 2 1,086,587 1,286,687 60,000 81,000 1, 686, 587 50,000 238,000 1,886,587 184, 000 263,000 2,086,587 197,000 263,000 2,841,687 197,000 263,000 3,157,255 187,000 263,000 3,388,556 177,000 263,000 3,510,180 167,000 246,000 4,048,480 157, 000 246,000 4,348,480 147,000 226,000 4,764,380 137, 000 226,000 5,305,129 127, 000 215,000 3 4 1 200,000 472,490 291,925 473,827 14,165 480, 765 100,000 480,208 135,000 467,778 201,632 467,414 64,708 620,520 7 476,016 466,646 467,836 461,997 491,147 490,663 8 149,393 68,000 150, 500 108,270 149,393 68,000 150,500 108, 270 149,393 58,000 150, 500 108,270 149, 393 58,000 150, 500 108,245 149,393 58, 000 150,500 108,245 149,393 58,000 150, 500 94,145 149,393 58,000 150, 500 94, 145 149,393 58,000 150, 500 94,145 149,393 68,000 160, 500 94,145 149,393 58,000 160,600 90,845 206,255 58,000 160,500 64,495 205,266 68, 000 150, 600 53,796 8,000 6,000 9,103 3,047,991 291, 760 58,000 160, 500 9 10 11 1' 8,000 6,000 6,260 3,326,230 6,000 8,627 3,284,880 6,000 8,070 3,623,699 6,000 8,508 3,654,351 6,000 9,740 3,116,983 6,000 9,798 2,962,361 6,000 9,376 2,826,122 6,000 7,269 2,916,639 6,000 6,897 2,462,581 14 6,327 2,987,355 7,664 3,109,883 9,883 3,324,766 15 16 17 1,500,000 550,000 1,500,000 550,000 1,600,000 660, 000 1,500,000 550,000 1,500,000 550,000 1,600,000 560,000 1,600,000 1,500,000 1,500,000 1,600,000 1,500,000 1,500,000 1,500,000 18 '^O 11,000 30, 000 46,470 11,000 30,000 46,470 11,000 30, 000 46,470 11,000 30,000 46,470 11,000 30,000 46,470 11,000 30,000 46,470 11,000 30,000 46,470 11,000 30,000 46,470 11,000 30,000 46,470 11, 000 30,000 46,470 11,000 30,000 46,470 ■'1 30,666 46,470 . 34,811,415 29,079,766 29,675,229 40,636,729 61,563,729 59,786,229 67,456,229 Bonds: Direct debt— 1860 1860 1863 1864-66 1868 1867-69 1871 1873 1874 1868-69 1874 1874 1875 1875 1876 1876 1877 1877 1888 1889 1892 1893 1893 1893 1890 1894 1894 1894 1894 1894 1895 1895 1895 1895 1895 1896 1896 1896 1896 1897 1897 1897 1897 1897 1898 1898 1898 1898 1898 1898 1899 1899 1899 1899 1900 1900 1900 1901 1901 1901 1901 1901 1901 1901 1902 1902 1902 1902 1902 1902 1902 1902 1902 1903 1903 1903 1903 1903 1903 1903 1903 1891 1893 1893 1894 1891 1900 1893 1894 1894 1895 1895 1894 1895 1895 1896 1896 1897 1897 1901 1909 1901 1901 1901 1913 1923 1923 1901 1920 1924 1934 1915 1925 1925 1915 1920 1901 1916 1920 1927 1917 1927 1936 1937 1937 1918 1925 1928 1928 1938 1928 1929 1929 1929 1939 1929 1930 1940 1915 1931 1931 1925 1927 1929 1931 1929 1928 1932 1918 1932 1927 1929 1931 1940 1928 1933 1933 1933 1943 1933 1933 1918 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 6 5 3 3 3 3 3.5 3.5 3.5 3.5 3.5 3 3.5 3.5 3 3 3 3.5 3.5 3.5 3.5 3.5 3.5 3 3.5 3.5 3.5 3.5 3 3 3 3 3.5 3.5 3 3 3 3 3 3 3 3 3.5 3 3.5 3.5 3.5 3.5 3.5 3 3.5 3 3 3.5 3.5 3.5 3.5 3 3.5 3.5 3.5 3.5 3.5 3.5 3 3 4 Kailroad subsidy 5 fi Bounties to Massachusetts soldiers 8,402,149 18,500 500 7 Eailroad subsidy 8 KFirilroftd subsidy 3,618,729 3,618,729 3,618,729 3,618,729 3,618,729 3,618,729 3,618,729 9 Eailroad subsidy in Danvers Lunatic Hospital 650,000 300,000 1, 506, 182 1,299,355 250,000 1,300,000 750,000 450,000 350,000 370,000 150,000 630,000 2, 500., 000 200,000 105,000 600,000 6,000,000 400,000 12,000 11 Eailroad subsidy i« Eailroad subsidy 1,506,182 1,299,355 13 State Prison Eetormatory tor Women 14 Danvers Lunatic Hospital IS Eailroad subsidy 1,300,000 750,000 450,000 350,000 370,000 150,000 630,000 2,600,000 200,000 105,000 600,000 5,000,000 600,000 150,000 400,000 300,000 700,000 250,000 U,000 Ifi Lunatic hospital at Worcester 17 Danvers Lunatic Hospital 450,000 350,000 370,000 160,000 630,000 2,500,000 200,000 105,000 600,000 5,000,000 1,000,000 500,000 400,000 300,000 700,000 250,000 650,000 150,000 160,000 300,000 400,000 . 13,000 16,000 370,000 150,000 630,000 2,600,000 200,000 105,000 600,000 5,000,000 4,500,000 600,000 400,000 300,000 700,000 250,000 550,000 160,000 160,000 300,000 400,000 500,000 625,000 600,000 IS T.iiTiatI" hospital at Worcester 15,000 1^ Prisons and hospitals ^4 Pnsnns and Tin.trpifjilH >5 >B State highway ^7 >S Armory buildings ^ q 1 3 Armory buildings 4 Armory buildings. . - . «! 5 Armory buildings 7 Armory buildings. . . q Armory buildings ... 1 Armory buildings <> /[ Armory buildings A Armory buildings 7 r) Armory buildings. . . ■ 1 Armory buildings Armory buildings . (f Armory buildings 7 Armory buildings q Armory buildings Armory buildings. 9 Abolition of grade crossings . ... i[ Massachusetts Hospital for Consumptives f; State highway 7 Suffolk County courthouse Q Abolition of grade crossings 71 Armory buildings ji 75 Prisons and hospitals 77 State hiehwav rrn f)'^ B? R1 R5 Massachusetts Hospital ior Consumptives 1 All armory loans transferred to direct debt during 1908. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. 121 Massachusetts: December 31, 1893, to Novembee 30, 1912— Continued. MASSACHTTSETTS— C!ontlnued. AMOUNT OTJTSTANmNG — Continued. Dec. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Deo. 31, 19a3. $300, 000 Dec. 31, 1904. $300,000 108, 000 150, 000 507,21)0 300,000 230,000 Dec. 31, 1905. $300,000 108,000 160,000 507,250 300,000 230,000 150,000 300, 000 250,000 60, 000 Nov. 30, 1906. $300, 000 108, 000 150, 000 507,250 300, 000 230, 000 150,000 300,000 240,000 60,000 75,000 15, 000 150, 000 404, 000 40,000 286,000 40,000 Nov. 30, 1907. $300,000 108,000 150, 000 507,250 300,000 230, 000 150, 000 300, 000 230,000 60,000 75,000 15,000 150,000 404, 000 40,000 286,000 40,000 500,000 65,000 22,000 150,000 219,000 126,000 25,000 360,000 4,000 60,000 Nov. 30, 1908. $300, 000 108, 000 150, 000 507, 250 300,000 230,000 150, 000 300,000 220,000 60,000 75,000 15, 000 150,000 404,000 40,000 280, 000 40,000 500,000 65,000 22,000 150,000 219,000 126,000 25,000 348,000 58,000 830,000 40, 000 15,000 95, 000 100, 000 110, 000 25,000 125,000 120,000 125,000 192,000 3,000 38,000 75,000 8,000 15,000 60,000 13,000 40,000 25,000 1,000 5,000 10,000 30,000 20, 000 20,000 35,000 45,000 2,000 8,000 1,500 23,000 19,000 252, 000 500, 000 440, 500 300, 000 212,200 495,000 60, 000 Nov. 30, 1900. $300,000 108, 000 150, 000 507, 250 300,000 230,000 150,000 300,000 210,000 60,000 75,000 15,000 150,000 404, 000 40,000 270,000 40,000 600,000 66,000 22,000 160, 000 219, 000 126,000 26,000 336,000 66,000 830,000 40,000 15,000 95,000 100,000 110, 000 25,000 126,000 120,000 125,000 192,000 3,000 38,000 75,000 8,000 15,000 60,000 13,000 40,000 25,000 1,000 6,000 10,000 30,000 20, 000 20,000 35, 000 45,000 2,000 8,000 1,500 23,000 19,000 252,000 500,000 440, 500 300,000 212,200 478, 500 68, 000 250, 000 250, 000 45, 000 40, 500 13,500 12, 500 125, 000 130, 800 80, 000 80, 000 80, 000 120, 000 100, 000 Nov. 30, 1910. Nov. 30, 1911. $300,000 108,000 150, 000 607, 260 300,000 230,000 150,000 300,000 200,000 60,000 75,000 15, 000 160, 000 404,000 40,000 260,000 40,000 600,000 65,000 22,000 150,000 219,000 126,000 25,000 324,000 64,000 830,000 40,000 15,000 95,000 100,000 110,000 26,000 126,000 120,000 125,000 192,000 3,000 38,000 76,000 8,000 15,000 60,000 13,000 40,000 25,000 1,000 5,000 10,000 30,000 20,000 20,000 35, 000 46,000 2,000 8,000 1,500 23,000 19,000 252, 000 600,000 440, 500 300, 000 212, 200 462, 000 56,000 250, 000 250, 000 45,000 40, 600 12,600 12,500 125, 000 130, 800 80, 000 72, 000 72,000 120,000 100,000 500, 000 6,000 40, 000 100, 000 16,000 $300,000 108,000 150,000 607,250 300,000 230,000 150, 000 300, 000 190, 000 60,000 75,000 16,000 150,000 404, 000 40,000 250,000 40,000 500,000 66,000 22,000 150,000 219, 000 126, 000 25,000 312,000 52,000 830,000 40,000 15,000 95,000 100,000 110,000 25,000 126,000 120,000 126, 000 192,000 3,000 38,000 75,000 8,000 16,000 60,000 13,000 40,000 26,000 1,000 6,000 10,000 30,000 20,000 20,000 35,000 45,000 2,000 8,000 1,600 23,000 19,000 252,000 500,000 440, 500 300, 000 212, 200 446,600 54, 000 250, 000 260, 000 46, 000 40,600 12,600 12,600 125, 000 130, 800 80, 000 64,000 64,000 120. 000 100, 000 600, 000 6,000 40,000 100,000 15,000 Nov. 30, 1912. $300,000 108,000 150, 000 507, 250 300,000 230, 000 150, 000 300, 000 180, 000 60,000 75,000 15,000 150, 000 404, 000 40,000 240,000 40,000 600,000 65,000 22,000 150,000 219,000 126,000 25,000 300,000 50,000 830,000 40,000 15,000 95,000 100,000 110,000 26,000 126,000 120,000 126, 000 192,000 3,000 38,000 75,000 8,000 16,000 60,000 13,000 40,000 26,000 1,000 5,000 10,000 30,000 20, 000 20, 000 35, 000 45,000 2,000 8,000 1,500 23,000 19,000 252, 000 500, 000 440, 500 300, 000 212,200 429,000 52, 000 250, 000 250, 000 45,000 40, 500 12, 600 12,509 125, 000 130, 800 80, 000 66, 000 66, 000 120, 000 100, 000 500, 000 6,000 40, 000 100, 000 15, 000 122 WEALTH, DEBT, AND TAXATIOFl Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of MASSACHUSETTS— Continued. CHARACTER AND PURPOSE OF ISSUE. Funded debt — Continued. Bonds — Continued. Direct debt— Continued. Massachusetts Hospital for Epileptics.. Prisons and hospitals State highway State highway Suffolk County courthouse Suffolk County courthouse Abolition of grade crossings Abolition of grade crossings Armory buildings Armory buildings Armory buildings - — Armory buildings Prisons and hospitals Prisons and hospitals State highway State highway Suflolk County courthouse Abolition of grade crossings Abolition of grade crossings Armory buildings Armory buildings Armory buildings State highway State highway State highway State highway ■. Contingent debt — Armory buildings Armory buildings Metropolitan sewerage system Metropolitan sewerage system Armory buildings Armory buildings Metropohtan sewerage system Armory buildings Metropolitan sewerage system Armory buildings Metropohtan parks Metropolitan parks (series 2) Metropohtan sewerage system Armory buildings Metropohtan parks Metropolitan sewerage system Metropolitan sewerage system Metropolitan sewerage system Metropolitan water system Armory buUdings Metropohtan water system Metropolitan sewerage system Metropolitan parks . Armory buildings Metropolitan water system Metropohtan parks Metropolitan parks (series 2)... Metropolitan parks (series 2). .. Metropolitan sewerage system . Metropohtan sewerage system . Metropolitan water system Metropolitan sewerage system. Metropolitan parks Metropolitan parks (series 2). . . Metropolitan sewerage system . Metropohtan sewerage system . Metropohtan water system Metropolitan parks Metropolitan parks (series 2) . . . Metropohtan sewerage system . Metropolitan sewerage system . Metropohtan water system . . . . Metropolitan parks Metropolitan parks (series 2). .. Metropohtan sewerage system . Metropolitan sewerage system . Arniory buildings Metropohtan sewerage system. Metropolitan parks Metropolitan sewerage system . Metropolitan water system Metropohtan water system Armory buildings Armory buildings Armory buildings Armory buildings Metropolitan sewerage system. Metropolitan sewerage system. Metropolitan water system Metropohtan parks (series 2.).. Year of issue. 1910 1910 1910 1910 1910 1910 1911 1911 1911 1911 1911 1911 1911 1911 1911 1911 1911 1912 1912 1912 1912 1912 1912 1912 1912 1912 1888 1890 1890 1891 1891 1892 1892 1893 1893 1894 1894 1894 1894 1895 1895 1895 1895 1896 1895 1896 1896 1896 1896 1897 1897 1897 1897 1897 1897 1897 1898 1898 1898 1899 1899 1899 1899 1900 1900 1900 1900 1900 1901 1901 1901 1901 1901 1901 1902 1902 1902 1902 1902 1902 1902 1902 Year of ma- turity. 1939 1939 1911-19 1920-39 1911-19 1920-39 1912-36 1936-40 1912-15 1916-28 1929^0 1912 1912-38 1939-40 1912-20 1921-40 1912-33 1913-36 1937-41 1913-36 1937-40 1941 1913-21 1922-26 1927-36 1937-41 1918 1920 1930 1930 1920 1921 1930 1922 1930 1923 1934 1934 1930 1925 1934 1930 1935 1935 1935 1925 1935 1930 1936 1927 1935 1937 1936 1937 1930 1935 1938 1930 1938 1938 1930 1935 1939 1939 1939 1936 1939 1939 1939 1940 1930 1939 1931 1940 1941 1936 1941 1941 1927 1931 1932 1918 1939 1940 1942 1940 Rate of in- terest. 3.6 3.6 3.5 3.5 3.5 3.5 3.5 3.5 3.6 3.5 3.6 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.6 3.6 3.5 3.5 3.5 3.6 3.6 3 3 3 3 3.6 3 3.6 3 3.5 3.6 3.6 3.6 3.5 3.5 3.5 3 3.5 3.5 3.5 3.5 3 3 3 3 3 3 3 3 3 3 3.5 3.6 3 3 3 3.6 3 3 3 3 3.6 3.5 3.6 3.5 AMOUNT OUTSTANDING — Dec. 31, 1893. Dec. 31, 1894. $830,000 40,000 5, 000, 000 15,000 96,000 100, 000 Dec. 31, 1896. $830,000 $830,000 40,000 40,000 5,000,000 6,000,000 15,000 96,000 100, 000 110,000 1,100,000 260,000 600, 000 15,000 95,000 100,000 110,000 1,100,000 250, 000 500, OOO 26,000 200,000 300,000 300,000 2,226,000 Dec. 31, 1896. $830,000 40,000 6,000,000 16,000 95,000 100, 000 110,000 1,100,000 260,000 600,000 25,000 200, 000 300, 000 500,000 2,226,000 125,000 4,775,000 30,000 1,400,000 Dec. 31, 1897. $830,000 40,000 6,000,000 15,000 95,000 100, 000 110,000 1, 100, 000 260, 000 600,000 25,000 200, 000 300,000 600,000 2,225,000 125, 000 4,776,000 30,000 2, 000, 000 120,000 6,000,000 1,400,000 300, 000 600, 000 80,000 300,000 Dec. 31, $830,000 40,000 5,000,000 16,000 96,000 100, 000 110,000 1,100,000 250,000 500,000 25,000 200,000 300,000 600,000 2,225,000 125,000 4,775,000 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 500,000 80,000 300,000 4,000,000 6,000 1,000,000 60,000 215,00(5 35,000 Deo. 31, 1899. $830,000 40,000 6,000,000 15,000 95,000 100,000 110,000 1, 100, 000 250,000 600,000 25,000 200,000 300,000 500,000 2,225,000 126,000 4,775,000 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 600,000 80,000 300,000 4,000,000 6,000 1,000,000 60,000 215,000 35,000 3,000,000 1,026,000 250,000 25,000 1,000,000 ' Combined in the 1907 report on 'W'ealth, Debt, and Taxation. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Oontinued. Massachusetts: December 31, 1893, to Novembeb 30, 1912— Continued. MASSACHUSETTS— Continued. 123 AMOUNT ouTST.VNDiNG— oontinuec . Dec. 31, 1900. Deo. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Deo. 31, " 1904. Deo. 31, 1906. , Nov. 30, 1906. Nov. 30, 1907. Nov. 30, 1908. Nov. 30, 1909. Nov. 30, 1910. Nov. 30, 1911. Nov. 30, 1912. $118,000 2, 069, 000 94,500 180,000 51, 000 106,667 $118,000 2,069,000 84,000 180,000 45, 333 106,667 408, 000 75,000 48, 000 130,000 108,000 1,000 324, 000 22,000 99,000 200,000 14, 667 $118,000 2, 069, 000 73,600 180, 000 39, 666 106,667 391,000 75,000 36,000 130,000 108,000 1 2 3 ' 4 5 ; 6 7 8 q in 11 12 312,000 22,000 88,000 200,000 14,000 408,000 75,000 96,000 12,000 1,000 167,500 86, 000 120,000 66, 000 13 14 16 1 16 1 17 IS 19 20 21 •)■>. 23 24 ?6 26 1 8830,000 40,000 ; 6,000,000 $830,000 40,000 6,000,000 $830,000 40,000 '3,000,000 1368,000 15,000 95,000 11,053,000 100,000 1679,000 110,000 1,100,000 260, 000 600,000 26,000 200,000 300,000 , (300,000 \200, 000 2 5,000,000 125,000 2 2,000,000 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 500,000 80,000 300,000 4,000,000 5,000 1,000,0'00 50,000 215,000 35,000 3,000,000 1,025,000 250,000 25,000 1,000,000 1,000,000 80, 000 162,600 266,000 10,912 126,000 2,000,000 760,000 40,000 6,900,000 3,100,000 192,000 38,000 76,000 3,000 14,000 850,000 3,500,000 225,000 $830,000 • 40,000 3,000,000 368,000 15,000 96,000 1,063,000 100,000 579,000 110,000 1,100,000 260,000 600,000 26,000 200,000 300,000 300,000 200, 000 5,000,000 125,000 2,000,000 30, 000 2,000,000 120, 000 6,000,000 1,400,000 300,000 500, 000 80,000 300,000 4,000,000 6,000 1,000,000 60,000 215,000 35,000 3,000,000 1,025,000 250,000 26,000 1,000,000 1,000,000 80,000 162, 500 265,000 10, 912 126,000 2,000,000 750,000 40,000 6,900,000 3,100,000 192,000 38,000 75,000 3,000 14,000 850,000 3,600,000 225,000 $830,000 40,000 3,000,000 368,000 15,000 95,000 1,063,000 100,000 679,000 110,000 1,100,000 250,000 600,000 26,000 200,000 300,000 300,000 200,000 6,000,000 125,000 2,000,000 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 500,000 80,000 300,000 4,000,000 5,000 1,000,000 60,000 215,000 35,000 3,000,000 1,025,000 250,000 26,000 1,000,000 1,000,000 80,000 162, 500 265,000 10,912 126,000 2,000,000 750,000 40,000 6,900,000 3,100,000 192, 000 38,000 75,000 3,000 14,000 850,000 3,600,000 226,000 $830,000 40,000 3, 000, 000 368,000 15,000 96,000 1,063,000 '100,000 679,000 110,000 1,100,000 250,000 600,000 26,000 200,000 300,000 300,000 200,000 5,000,000 125,000 2,000,000 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 500,000 80,000 300,000 4,000,000 6,000 1,000,000 60,000 215,000 35,000 3,000,000 1,025,000 260,000 25,000 1,000,000 1,000,000 80,000 162,500 265,000 10,912 125, 000 2,000,000 750,000 40,000 6,900,000 3, 100, 000 192,000 38,000 76,000 3,000 14,000 860,000 3,600,000 225,000 $830,000 40,000 3,000,000 368,000 15,000 95,000 1,053,000 100,000 679,000 110,000 1,100,000 250,000 600,000 26,000 200,000 300,000 300,000 200,000 5,000,000 126,000 2,000,000 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 500,000 80,000 300,000 4,000,000 6,000 1,000,000 50,000 216,000 35,000 3,000,000 1,026,000 260,000 26,000 1,000,000 1,000,000 80,000 162,600 266,000 10,912 125, 000 2,000,000 750,000 40,000 6,900,000 3,100,000 192,000 38,000 75,000 3,000 14,000 860,000 3,600,000 225,000 $830,000 40,000 3,000,000 368,000 16,000 95,000 1,063,000 100,000 679,000 110,000 1,100,000 250,000 500,000 26,000 200,000 300,000 300,000 200,000 6,000,000 126,000 2,000,000 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 600,000 80, 000 300,000 4,000,000 6,000 1,000,000 60,000 215,000 35,000 3,000,000 1,025,000 250,000 25,000 1,000,000 1,000,000 80,000 162,600 265,000 10,912 126, 000 2,000,000 750,000 40,000 6,900,000 3,100,000 192,000 38,000 75,000 3,000 14,000 860,000 3,500,000 225,000 27 28 $3,000,000 368,000 $3,000,000 368,000 3,000,000 368,000 3,000,000 368,000 3,000,000 368,000 29 .SO 16,000 96,000 15,000 96,000 31 32 1,063,000 1,053,000 1,063,000 1,063,000 1,063,000 33 100,000 100,000 34 679,000 679,000 679,000 579,000 579,000 35 110,000 : 1,100,000 250,000 ' 600,000 26,000 200,000 300,000 ; 600,000 110,000 1,100,000 250,000 500,000 25,000 200,000 300,000 600,000 .S6 1,100,000 250,000 500,000 1,100,000 250,000 600,000 1,100,000 260,000 500,000 1,100,000 250,000 500,000 1,100,000 250,000 500,000 37 38 39 40 200,000 300,000 300,000 200,000 6,000,000 200,000 300,000 300,000 200,000 5,000,000 200,000 300,000 300,000 200,000 6,000,000 200,000 300,000 300,000 200,000 6,000,000 200,000 300, 000 300,000 200,000 5,000,000 41 42 43 44 i 2,225,000 126,000 ' 4,775,000 ; 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 600,000 80,000 300,000 4,000,000 5,000 1,000,000 60,000 215,000 35,000 3,000,000 1,026,000 250,000 25,000 1,000,000 1,000,000 80,000 162,500 265,000 10,912 2,225,000 125,000 4,775,000 30,000 2,000,000 120,000 6,000,000 1,400,000 300,000 600,000 80,000 300,000 4,000,000 5,000 1,000,000 60,000 216,000 35,000 3,000,000 1,026,000 250,000 26,000 1,000,000 1,000,000 80,000 162,600 265,000 10,912 125,000 2,000,000 750,000 40,000 6,900,000 3,100,000 45 46 2,000,000 30,000 2,000,000 2,000,000 30,000 2,000,000 2,000,000 30,000 2,000,000 2,000,000 30,000 2,000,000 2,000,000 30,000 2,000,000 47 48 49 6,000,000 1,400,000 300,000 600,000 80,000 300,000 4,000,000 5,000 1,000,000 50,000 215,000 35, 000 3,000,000 1,026,000 250,000 25,000 1,000,000 1,000,000 80,000 162,600 265,000 10,912 6,000,000 1,400,000 300,000 500,000 80,000 300,000 4,000,000 5,000 1,000,000 60,000 215,000 36,000 3,000,000 1,025,000 250,000 25,000 1,000,000 1,000,000 80,000 162,500 265,000 10,912 6,000,000 1,400,000 300,000 600,000 80,000 300,000 4,000,000 5,000 1,000,000 60,000 215,000 35,000 3,000,000 1,026,000 250,000 26,000 1,000,000 1,000,000 80,000 162,600 265,000 10,912 6,000,000 1,400,000 300,000 600,000 80,000 300,000 4,000,000 6,000 1,000,000 60,000 215,000 36,000 3,000,000 1,026,000 250,000 26,000 1,000,000 1,000,000 80,000 162,600 266,000 10,912 6,000,000 1,400,000 300,000 500,000 80,000 300,000 4,000,000 5,000 1,000,000 60, 000 215,000 36,000 3,000,000 l; 025, 000 250,000 25,000 1,000,000 1,000,000 80,000 162,600 265,000 10, 912 51 52 63 54 66 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 2,000,000 750,000 40,000 6,900,000 3,100,000 2,000,000 760,000 40,000 6,900,000 3,100,000 2,000,000 ■750,000 40,000 6,900,000 3,100,000 2,000,000 760,000 40,000 6,900,000 3, 100, 000 2,000,000 760,000 40,000 6,900,000 3,100,000 74 V5 V6 77 7i VV 80 81 Kl 14,000 860,000 3,600,000 226,000 14,000 850,000 3,600,000 225,000 14,000 860,000 3,500,000 226,000 14,000 860,000 3,600,000 225,000 14,000 850,000 3,500,000 225,000 W, 8< 85 86 2 Amounts not segregated aain the 1907 report on Wealth, Debt, and Taxation. 124 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op MAS 8 ACHTJ8BTT 8— Continued. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rat© of in- terest. AMOUNT OUTSTANDING — Dec. 31, 1893. Dec. 31, 1894. Deo. 31, 1895. Dec. 31, 1896. Dec. 31, 1897. Dec. 31, 1898. Dee. 3], 1899. 1 Funded debt— Continued. Bonds — Continued. Contingent debt— Continued. Armory buildings 1993 1993 1993 1903 1903 1903 1903 1903 1993 1994 1994 1904 1904 1904 1904 1904 1904 1904 1905 1905 1905 1905 1905 1905 1905 1905 1905 1906 1906 1906 1906 1906 1906 1906 1996 1906 1996 1906 1907 1907 1907 1907 1907 1907 1997 1997 1907 1907 1907 1907 1907 1908 1908 1908 1908 1909 1909 1909 1909 1909 1909 1909 1909 1909 1909 1910 1910 1910 1910 1910 1911 1911 1911 1911 1911 1911 1912 1912 1912 1912 1912 1927 1943 1943 1943 1943 1930 1935 1940 1943 1931 1934 1923 1934 1944 1944 1944 1944 1944 1934 1935 1935 1934 1927 1945 1945 1945 1945 1918 1921 1935 1936 1934 1946 1946 1946 1943 1946 1946 1918 1921 1935 1936 1937 1946 1947 1946 1947 1947 1946 1946 1908-37 1948 1928 1946 1909-38 1949 1949 1949 1949 1949 1949 1949 1949 1949 1949 1950 1949 1959 1910-19 1920-39 1912-44 1945-50 1912-21 1922-51 1912-61 1912-33 1913-32 1913-16 1917-41 1913-46 1947-51 3 3.5 3.2 -3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3 3 3.5 3.5 3.5 3.5 3.5 3 3.5 3.25 3.25 3.25 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3 3.5 3 3.5 3 3.5 3 3.5 3 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 2 Metropolitan parks 3 Metropolitan parks 4 Metropolitan parks (series 2) 5 Metropolitan sewerage system fi Metropolitan sewerage system 7 Metropolitan sewerage system 8 Metropolitan sewerage system H Metropolitan water system 1(1 Armory buildings 11 Armory buildings 12 Armory buildings 13 Armory buildines 14 IS Metropolitan parks 1ft Metropolitan parks (series 2) 17 Metropolitan sewerage system IS Metropolitan water system 19 Armory buildings 2(1 Armory bm'ldings 21 Armory buildings 22- Armory buildngs 23 Armory buildings ?A Charles River basin 2S Metropolitan parks 26 Metropolitan parks (series 2) 27 Metropolitan water system 2S Armory buildings 29 Armory buildings : 39 Armorybuildings 31 Armory buildings 32 Armory buildings 33 Charles River basin 34 Metropolitan parks (series 2) 35 Metropolitan parks 3(i Metropolitan sewerage system 37 Metropolitan sewerage system 38 Metropolitan water system 39 Armory buildings 49 Armorybuildings 41 Armory buildings 42 Armory" buildings 43 Armory buildings 44 Charles River basin 45 Charles River basin 4fi Metropolitan parks 47 Metropolitan parks 48 Metropolitan parks (series 2) 49 Metropolitan sewerage system 59 Metropolitan water system 51 Suffolk County courthouse . 52 Charles River basin 53 Metropolitan parks 54 Metropolitan sewerage system 55 Suffolk County cnurthouse 5R Charles River basin 57 Charles River basin 58 Metropolitan parks '. . . 59 Metropolitan parks 19 Metropolitan parks (series 2) 61 Metropolitan parks (series 2) 12 Metropolitan sewerage system 13 Metropolitan sewerage system 14 Metropolitan water system W Metropolitan water system. Sfl Charles River basin. . 1 ' 57 Metropolitan sewerage system 1 18 Metropolitan water system ;9 Suffolk County (xjurthouse 79 Suffolk Coimty courthouse 71 Charles River basin 72 Charles River basin W Metropolitan parks 74 Metropolitan parks 75 Metropolitan water system W Suflollc County courthouse 77 Metropolitan parks ?S Metropjlitau sewerage system 79 Metropolitan sewerage system W Metropolitan water system <1 Metropolitan water system ?2 Floating debt.... Temporary loEms ^ U Warrants W Private trust funds ' ' i 1 1 Not reported separately from 1893 to 1901, inclusive. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Massachusetts: December 31, 1893, to November 30, 1912 — Continued. MA88ACHTJ8BTT8— Continued. 125 AMOUNT OUTSTANDING— continued. Deo. 31, 1900. Dec. 31, 1901. Deo. 31, 1902. Dec. 31, 1903. Deo. 31, 1904. Deo. 31 1905. Nov. 30, 1906. Nov. 30, 1907. Nov. 30, 1908. Nov. 30, 1909. Nov. 30, 1910. Nov. 30, 1911. Nov. 30, 1912. $8,000 366,000 100,000 205,000 1,296,000 200,000 4,000 736,000 2,000,000 $8,000 365,000 100,000 205,000 1,296,000 200,000 4,000 736,000 2,000,000 16,000 60,000 13,000 40,000 250,000 300,000 150,000 392,000 2,000,000 $8,000 366,000 100,000 206,000 1,296,000 200,000 4,000 736,000 2,000,000 15,000 60,000 13,000 40,000 250,000 300,000 150,000 392,000 2,000,000 25,000 30,000 10,000 6,000 1,000 400,000 370,000 160,000 660,000 $8,000 365,000 100,000 205,000 1,296,000 200,000 4,000 736,000 2,000,000 15,000 60,000 13,000 40,000 250,000 300,000 150,000 392,000 2,000,000 26,000 30,000 10,000 5,000 1,000 400,000 370,000 150,000 650,000 20,000 20,000 36,000 45,000 2,000 516,000 150,000 299,000 65,000 154,000 1,043,000 $8,000 365,000 100,000 205,000 1,296,000 200,000 4,000 736,000 2,000,000 15,000 60,000 13,000 40,000 250, 000 300,000 160,000 392,000 2,000,000 26,000 30,000 10,000 6,000 1,000 400,000 370,000 150,000 650,000 20,000 20,000 36,000 45,000 2,000 615,000 150,000 299,000- 66,000 154,000 1,043,000 8,000 1,500 23,000 19,000 252,000 85,000 1,160,000 1,000 300,000 150,000 321,000 307,000 120,000 1 $365,000 100,000 205,000 1,296,000 200,000 4,000 736,000 2,000,000 $365,000 100,000 205,000 1,296,000 200,000 4,000 736,000 2,000,000 $366,000 100,000 205,000 1,296,000 200,000 4,000 736,000 2,000,000 $366,000 100,000 205,000 1,296,000 200,000 4,000 736,000 2,000,000 S36S,000 100,000 206,000 1,296,000 200,000 4,000 736,000 2,000,000 2 3 4 fi fi 7 R 9 10 11 12 13 250,000 300,000 160,000 392,000 2,000,000 250,000 300,000 150,000 392,000 2,000,000 250, 000 300,000 150, 000 392,000 2,000,000 250,000 300,000 150,000 392,000 2,000,000 250,000 300,000 150,000 392,000 2,000,000 14 15 16 17 18 ' 19 1 ?fl 1 ?1 1 n 1 23 1 400, 000 370, 000 150,000 660, 000 400,000 370,000 150,000 650,000 400,000 370,000 150,000 650,000 400,000 370,000 150,000 660, 000 400,000 370,000 150,000 650,000 24 i 2.5 2« 27 1 m 29 80 n 32 6i5,666 150,000 299,000 65,000 164,000 1,043,000 515,000 160,000 299.000 65,000 154,000 1,043,000 616,000 160,000 299,000 66,000 164,000 1,043,000 515,000 150, 000 299,000 56,000 154,000 1,043,000 516,000 160,000 299,000 65,000 154,000 1,043,000 33 34 3,5 36 37 38 1 39 1 40 1 41 i 42 i 43 I 86,000 1,150,000 1,000 300,000 150,000 321,000 307,000 116,000 400,000 126,000 700,000 120,000 86,000 1,160,000 1,000 300,000 160,000 321, 000 307,000 112,000 400,000 125,000 700,000 116,000 425 000 425,000 35,000 35,000 12,500 12,500 160,000 160,000 199,000 199,000 85,000 1,160,000 1,000 300,000 150,000 321,000 307,000 108,000 400,000 125,000 700,000 112,000 425 000 425,000 35,000 35,000 12,500 12,500 150,000 150,000 199,000 199,000 475,000 113,000 600,000 102,000 213,333 85,000 1,150,000 1,000 300,000 150,000 321,000 307,000 104, 000 400,000 125,000 700,000 108,000 425,000 425,000 36,000 36,000 12,600 12,600 160,000 160,000 199,000 199,000 476,000 113,000 600,000 90,667 213,333 264,000 36,000 20,000 30,000 200,000 29,333 85,000 1,150,000 1,000 300,000 150,000 321,000 307,000 100,000 400,000 125,000 700,000 104 000 425,000 425,000 35,000 36,000 12,500 12,600 160,000 150, 000 199,000 199,000 475,000 113,000 600,000 79,334 213,333 256,000 36,000 18,000 30,000 195,000 28,000 15,000 12,000 50,000 170,000 20,000 668,329 44 4,5 4fi 47 48 49 ,50 .51 .53 1 ■ 63 64 .... 1 .65 flfi 1 67 1 1 1 68 1 ■■" ■ 1 .59 r 60 1 61 1 t 62 1 63 1 64 1 6,5 66 67 1 68 69 70 71 72 73 74 75 76 77 78 7f 8C 81 $1,104,210 $240,460 407, 293 193, 271 191,916 192, 771 207, 942 250,494 1,256,568 649,722 473,968 82 1,104,210 1,000,000 309,000 238 240, 484 202,000 346,000 83 6,938 233,522 18,777 38<,616 699 191,317 2,697 190, 074 770 207, 172 HI 193, 271 250,494 256, 568 271,968 322, 329 85 — 126 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, B — Detailed Exhibit op General Treasury Cash and the Assets of MASSACHTTSETTS— Continued. FUND AND CHAKACTEK OF INTTESTMENT., Total... Sinking fund. For redemption of direct debt. Massachusetts bonds Otber state bonds County and municipal bondB. Railroad bonds Notes Cash For redemption of contingent debt. Massachusetts bonds Other state bonds County and municipal bonds . Railroad bonds Notes School fund. . Other state bonds County and municipal bonds . Railroad bonds Notes Cash SSI, 850, 017 CASH AND SECURITIES ON HAND- Dec. 31, 1893. 826,729,538 21,874,202 21,621,616 5,832,283 6,347,840 6,012,000 3,429,493 252,686 2i8,800 "'23,' 786' 500 1,657,310 2,000,000 Dec. 31, 1894. $23,911,826 16, 986, 533 16,662,103 2,966,379 5,398,358 5,840,000 2,457,366 324,430 266,700 ""57,'736' 3,770,548 2,135,400 1,635,000 Dec. 31, 1895. $26,545,067 13,090,474 12, 444, 849 1,585,900 4,801,270 6,700,000 357,679 645,625 8,000 474, 850 40,000 122, 775 3, 870, 548 2, 128, 600 1,735,000 Dec, 31, 530,118,389 13,458,574 12,250,081 1, 628, 856 4, 293, 245 5, 713, 420 614, 560 1, 208, 493 143,000 872,950 20,000 172,543 3,970,548 2,159,841 1,755,000 Dec. 31, 1897. S29,298,151 13,889,893 12,181,351 1, 263, 610 4, 298, 775 5,700,000 918,966 1,708,542 1,347,368 ""36i,'i74' 4,070,548 2,247,841 1,755,000 Dec. 31, $31,316,063 15, 194, 152 12,862,265 1,508,115 4,166,007 5,700,000 1,488,143 2,331,887 5,000 1,893,766 4, 170, 548 2,000 2, 133, 491 1,775,000 Dec. 31, 1899. 15,767,138 13, 254, 954 1,895,988 100, 000 3,485,929 5,700,000 2,073,037 2,512,184 2,358,999 "'i53,'i85 4,270,548 2,000 2,385,536 1,775,000 Trust fvmds^. Massachusetts bonds Commonwealth notes Other state bonds County and municipal bonds Railroad bonds Notes American Telegraph & Telephone Co. bond , Certificates of stock deposit (railroad stock passbooks, etc.). Real estate mortgages Cash 12,738 664,957 735, 137 6,948 670,223 65,707 723,642 761,782 260,057 784,098 108,012 1,203,315 352, 000 219,000 410, 100 219,000 403, 100 219,000 45,000 406,900 219,000 384, 100 219,000 309,300 219,000 892,369 219,000 Metropolitan parks — expense fund . County and municipal bonds. . Cash 3,454 90,503 106,037 48,123 52,742 158, 682 255, 798 91,946 lyoan funds: ■Derived from direct debt. Massachusetts bwids Other state bonds County and municipal bonds. Notes Cash Derived from contingent debt. Massachusetts bonds Other state bonds County and municipal bonds . Railroad bonds Notes Cash Private trust funds. . Massachusetts bonds County and municipal bonds . Cash 921,371 1,018,697 3,091,052 1,998,311 2,391,347 3, 169, 111 726,000 620,902 921,371 1,006,920 1,018,697 1,625,851 1, 845, 150 84, 500 '2,'65i"743' 500,000 10,000 261,000 1,488,311 6,442,014 2,391,347 3,456,302 2,908,111 4,849,837 200,000 539, 202 200,000 2,037,902 893, 702 2, 159, 673 1,006,920 1, 625, 851 874, 994 2,778,174 4, 204, 112 2, 562, 600 2, 690, 164 General and special funds.. Cash Total. Massachusetts bonds Commonwealth notes Other state bonds County and municipal bonds. Railroad bonds Real estate mortgages Notes. . 3,712,019 2, 592, 772 2, 314, .535 2, 738, 684 2,955,841 3,301,704 2, 056, 114 3,712,019 31,850,017 2, 592, 772 26,729,538 2,314,635' 23,911,826 2, 738, 684 26,545,067 2,955,841 30,118,389 3,301,704 29, 298, 151 2,056,114 31,316,063 5, 832, 283 2, 966, 379 1,585,900 1,628,856 500 8, 585, 950 8,231,000 3,454 8, 210, 558 7,694,000 733,000 8, 328, 722 7,694,000 1,263,610 1,508,115 1,8 388,000 8,356,638 7, 707, 420 700,000 10,325,986 7,674,000 7,000 9,396,266 7, 694, 000 102,000 11,543,506 7,694,000 American Telegraph & Telephone Co. bond Certificates of stock, trust company stock, and railroad stock. . Cash 9,196,830 1,601 5,570,204 8, 464, 153 10, 154, 793 10, 692, 770 10,080,569 I Included with direct debt sinking fund. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Productive Funds of Massachusetts: December 31, 1893, to November 30, 1912. MAS 8ACHUSETT8— Continued. 127 CASH AND SECUEiTiEs ON HAND— Continued. Dec. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Dec. 31, 1904. Dec. 31, 1905. Nov. 30, 1906. Nov. 30, 1907. Nov. 30, 1 Nov. 30, 1908. 1 1909. Nov. 30, 1910. Nov. 30, 1911. Nov. 30 1912. 829,189,810 831,559,001 832,666,080 $34,266,646 834,567,304 «37,847,823 839,823,339 842,838,943 844,648,739 843,705,820 $47,007,458 850,157,309 $52,666,167 1 18,223,404 16,738,241 18,304,729 19,918,042 21,464,032 24,682,634 26,616,606 28,781,235 31,013,766 30, 863, 096 33, 358, 409 36,846,173 38,251,901 2 15,292,256 13,278,969 13,.940,695 14,731,869 16, 233, 156 17,353,985 18,163,977 19, 038, 277 20,920,677 19, 382, 996 20,461,368 21,438,295 38,261,901 3 450 150,000 4,078,297 10,700,000 1,260 377,350 1,209,600 1,770,750 2,605,760 3,047,250 3,873,760 4, 679, ''50 3, 715, 760 4,953,250 6,024,730 14,787,662 ' 4 S 3,110,294 10,120,000 1,862,360 10,000,000 1,566,973 134,022 4,364,034 2,187,520 10,000,000 993,902 340, 937 5,186,183 ' 2,490,340 10,000,000 866,280 106,786 6,230,877 3,681,110 10,000,000 1,063,050 14,075 7,328,649 4,161,080 10,000,000 956,500 9,147 8,462,528 4,289,760 10,000,000 816,228 68,549 9,742,958 4,874,420 10,000,000 1,277,990 89,717 10,093,189 4,781,865 10,000,000 878,212 7,168 11,480,101 4,608,410 10,000,000 824,606 65,092 12,907,061 4,649,030 10, 000, 000 712,605 51,910 14, 406, 878 11,626,160 10,000,000 2, 376, 731 61,358 6 7 363,509 2,931,148 47,425 3, 469, 272 9 10 912 11,912 214,912 289,912 965,412 1,714,412 2,629,412 4,104,412 5,871,912 6,940,412 11 50,912 2,842,646 912 2,898,176 12 2,752,226 3,444,960 4,083,950 6,206,600 5,787,330 6,208,160 6, 007, 130 6, 115, 610 6,882,690 6,485,720 13 14 1,476,951 133,946 4,670,548 1,714,298 16,023 4,670,548 1,779,248 162, 767 4,780,111 1, 799, 167 34,070 4,880,111 1,691,533 18,263 4,980,111 1,661,821 158,566 5,000,000 1,393,625 63,022 5,000,000 1,266,083 4,996 5,000,000 1,137,315 15,234 5,000,000 977,324 3,422 5,000,000 I"; 37,590 4,370,548 5fi0, 184 4,470,548 16 5,000,000 17 2,000 2,052,866 1,775,000 2,000 2, 524, 525 1,775,000 18 2,181,426 275,000 905,936 1, 208, 188 2,940,036 3,546,327 275,000 765, 782 84,439 2,946,490 3,744,052 276,000 760,383 676 3,302,897 3,951,877 275,000 649, 333 3,901 3,328,184 4,075,602 276, 000 627,366 2,143 3,614,787 4,082,302 276,000 639, 649 3,049 3,746,966 4,097,802 276,000 606,608 20,690 3,577,835 4,151,082 275,000 667,766 6,162 3,639,814 4,203,782- 275,000 618, 274 2,944 3,876,425 4,333,582 275, 000 391, 133 285 3,886,652 4,353, J82 276,000 361,833 9,685 4,080,019 19 20 ?1 540, 682 1,390,273 169,023 1,497,890 22 23 100,000 150,000 262,000 320,000 647,000 546,000 627,500 669,500 680,500 660,000 176,000 24- 2,6 26 884,071 219,000 1, 102, 730 219, 000 1,361,260 1, 674, 150 1,641,050 1,735,550 1, 708, 950 10,000 373, 001 1,000 19,900 1,544,850 10,000 276,501 1,000 19,800 1,487,660 10,000 275,255 1,000 19,800 1,469,950 10,000 240,682 1,000 15,800 1,445,250 10,000 243,961 1,000 15,800 1, 614, 560 10,000 329,417 1,000 15,800 1, 173, 696 10,000 470,397 1,000 15,800 27 2R 722,384 364,696 412, 168 400,318 ?fl 30 31 32 287,202 176, 160 866,402 807, 744 1,099,679 930, 316 1,181,936 1,347,815 1,238,130 1,284,882 1,490,914 1,335,385 101,836 1,574,226 81,000 33 34 100,000 1,835 1,787,000 81,000 35 \ 36 2,330,674 2,413,589 2, 739, ,859 3,136,692 2,381,070 1,706,536 926,057 1,046,846 1,525,627 1,209,037 2,057,487 1,703,419 37 150,000 276,000 85,000 60,000 75,000 166,667 84,000 110,000 5,000 38 160,000 481,786 39 357,000 1,254,202 216,033 1,120,624 2,365,094 306, 600 61,016 2,504,076 1,577,000 40,500 20,000 2,320,570 973,288 601,600 170,200 849, 736 904,659 301,000 36,060 639,007 903,749 290,633 102,667 678,646 1,763,260 ii5, ioo 32,933 1,210,927 879,613 3,333 13,334 1,108,370 798,142 162,660 3,000 1,611,350 499,193 112^000 24, 600 1,661,919 359,534 40 41 1,973,674 2,044,105 1,781,803 3,831,176 2,057,487 705,897 42 43 375,000 50,000 25,000 133,333 100,000 44 1,104,210 859,011 580,000 45 630,562 892,000 180,600 153, 600 215,467 30,000 6,667 46 47 91,000 1, 382, 094 233,522 70,670 663,489 191,317 16,639 683,510 190,074 333,833 1, 188, 960 207, 172 46,667 669,613 250,494 26,667 764, 808 256,668 48 1,413,543 1,287,955 1,202,000 388,616. 973,288 193,271 606,897 240, 484 499, 193 271, 968 369, 664 322,329 49 50 64,000 86,000 42,317 2,154,382 80, 000 76,000 34,074 2,692,056 80,000 90,000 37, 172 2,293,464 78,000 108, 000 64,494 2, 401, 404 94,000 100,000 62,668 1,939,163 118,000 99,500 22,984 2, 428, 756 114,000 118,600 39,468 2,765,488 114,000 173,050 35,279 2,767,965 61 53 233,522 1,412,292 388,516 1,628,458 193, 271 1,472,635 63 830,806 2,607,557 54 830,806 29,189,810 2,607,557 31,559,001 1,412,292 32,566,080 1,628,458 34,265,646 1, 472, 635 34,567,304 2,154,382 37,847,823 2,692,066 39,823,339 2, 293, 464 42, 8fe, 943 2, 401, 404 44,648,739 1,939,163 43, 705, 820 2, 428, 756 47,667,468 2, 765, 488 60, 157, 309 2,767,966 62,566,167 55 66 450 1,250 528, 262 1,971,412 2,135,662 3,306,662 4,502,662 6,315,162 8,231,862 8,625,662 11, 712, 662 13,869,662 15,566,662 175,000 57 IS 202,912 10,845,442 12,694,000 1,257,122 10,976,622 12,694,000 69 10,303,452 10,275,000 11,168,447 10,275,000 11,999,892 10,276,000 15,441,237 10, 276, 000 16,253,562 10,286,000 16,721,162 10,285,000 16, 720, 102 10,285,000 16, 618, 607 10,285,000 16,239,532 10,288,000 17,364,032 10,285,000 16,919,278 10,285,000 60 61 6'' 4, 978, 276 3,889,694 3,837,079 4,142,638 3,761,089 1,000 19,900 5,060,126 3,830,599 1,000 19,800 6, 666, 220 3,632,978 1,000 19, 800 6,757,997 2,981,744 1,000 1.5,800 5,l:S,107 2, 724, 156 1,000 16,800 0,689,308 2,413,479 1,000 16,800 6,208,336 3,233,461 1,000 15,800 6,369,966 63 64 fiS 5,447,006 6, 630, 107 6,481,090 6,971,193 6, 319, 671 4,682,286 66 2 Trust funds reported separately in the 1907 report on Wealth, Debt, and Taxation. 128 WEALTH, DEBT, AND TAXATION. Table I,— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op MICHIGAN. CHAKACTER AND PURPOSE OF ISSUE. Total... Funded debt.. Bonds: Internal improvements War bounty Special debt obligations to public trust funds: Primary scbool fund Primarjf school fund University fund Agricultural college fund Normal school fund University deposit fund JTloatiag debt Private trust fund. Year of issue. 1875 1875 1875 1875 1875 1893 Year of maturity. 1903-1908 Perpetual. Perpetual. Perpetual. Perpetual. Perpetual. (') Bate of in- terest. 3&3.5 7 5 7 7 e AMOUNT OUTSTANDING — June 30, 1894. S5, 677, 947 5, 677, 947 10, 993 3, 737, 308 813, 367 524, 830 625, 938 65, 505 June 30, 1895. $5, 718, 287 5, 718, 287 10, 993 3, 764, 124 818, 714 628, 207 630, 664 65, 685 June 30, 1896. $5, 778, 061 5, 778, 061 10,993 3, 800, 613 824, 814 628, 497 547,279 66, 865 June 3( 1897. $5,821,039 5, 821, 039 10, 993 3, 815, 458 829, 069 529, 622 669, 952 65, 945 June 30, 189S. $6, 328, 818 6, 328, 818 10, 993 400,000 3, 859, 739 833, 613 532, 567 626, 791 66, 125 June 30, 1899. $6,630,997 6, 630, 997 10,993 600,000 3, 947, 232 846, 779 633, 904 725,844 66,245 June 30, 1900. $6, 773, 145 6, 773, 145 500,000 3,984,562 868, 503 634,283 818, 944 66, 853 B — Detailed Exhibit op Geneeal Treasury Cash and the Assets of FUND AND CHAEACTEE OF INVESTMENT. CASH AND SECUEIirES ON HAND— June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. June 30, 1899. June 30, 1900. 1 Total 80,188,779 56,126,024 $6, 679, 490 $6,593,934 $7,134,037 $7,534,352 $8,774,703 Sinklngfund 7. 128, 312 2,224 153,657 248,871 United States bonds 3 128, 312 12,293 141,364 4, 794, Oil 4 Cash 2,224 4,693,351 248,871 4,863,066 5 4,650,675 4,582,838 4, 625, 427 4, 644, 627 fi 4, 550, 675 524, 836 4,582,838 528, 207 4,625,427 528,497 4, 644, 527 629, 622 4, 693, 351 532,557 4,794,011 633, 904 4,853,066 634,283 7 TTnivfirsit.y finifl Special debt obligations to public trust funds. R 524,836 628,207 528, 497 629,622 532, 657 633, 904 534,283 9 University deposit fund ... Special debt obligations to public trust funds in 11 625,938 630, 564 547, 279 569,952 025, 791 726,844 818, 944 Special debt obligations to public trust funds . 1' 626, 938 66, 505 530, 564 65, 686 547,279 65,866 569, 952 65,945 625, 791 66, 126 725,844 66,246 818,944 66,853 1? 'MnrTTiFiT qp.hnol fund Special debt obligations topublic trust funds 14 65,505 65,686 66, 866 65, 945 66, 1^5 66,245 66,853 15 Sundry deposit fimds Cash Ifi 17 521, 826 290, 418 912, 422 783, 888 1, 213, 989 1, 260, 691 2,252,686 Cash 18 521,825 6, 188, 779 290, 418 6, 126, 024 912,422 6, 679, 490 783, 888 6, 593, 934 1, 213, 989 7,134,037 1,260,691 7,534,362 2, 252, 686 8,774,703 q Total. . '0 5,666,954 5, 707, 294 128,312 290, 418 5,767,068 6,810,046 5, 917, 824 6,120,004 12,293 1,402,065 6, 273, 146 »1 United States bonds :>9 Cash 521,825 912,422 783, 888 1,216,213 2, 601, 557 iNot reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Michigan: June 30, 1894, to June 30, 1913. michigax. 129 AMOUNT OUTSTANDIKQ— continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1906. June 30, 1906. June 30, 1907. June 30, 1908. June 3D, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $6,856,408 *6, 915, 337 $6,658,983 $6,735,567 $6,760,670 $7,094,926 $7,178,638 $7,288,557 $7,300,944 $7,056,257 $7,075,275 $7,031,848 17,089,092 1 6,856,408 6,915,337 6,652,603 6,729,070 6,747,269 6,779,800 6,812,542 6,835,666 6,848,199 6,864,162 6,876,884 6,890,509 6,896,212 2 3 416,800 4,122,833 877,575 536,749 832,608 67,843 2,000 416,300 4,157,235 886,781 537,469 847,669 67,883 2,000 43,000 4,193,643 919,365 639,310 886,985 68,300 2,000 6,380 16, 100 4,211,196 935,666 639,508 956,180 68,420 2,000 6,497 4 4,224,061 945,061 541,353 966,254 68,540 2,000 13,401 4,240,687 951,319 643,678 973,336 68,780 2,000 315, 126 4,256,007 963,752 544,244 977,727 68,812 2,000 366,096 4,269,407 970,386 544,604 980,347 68,822 2,000 462, 991 4,279,026 972,006 544,779 980,567 69, 221 2,000 452, 745 4,287,523 973,710 546,859 986,824 69,246 2,000 192,095 4,294,753 976,676 646,219 987,990 ■ 69,246 2,000 199,391 4,302,881 980,559 546,219 989,694 69,246 2,000 141,339 4,307,148 981, 165 646,219 960,314 69,366 2,000 192,880 5 6 7 8 9 10 11 6,380 6,497 13, 401 315, 126 366,096 452,991 452,745 192,095 199,391 141,339 192,880 1? Peoductivb Funds of Michigan: June 30, 1894, to June 30, 1913. CASH AND sEctmiTiES ON HAND— Continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $9,067,131 $9,962,848 $11,126,708 $11,557,566 $10,796,480 $18,551,831 $13,633,743 $9,906,358 $8,534,508 $9,429,784 $9,196,675 $16,967,634 $16,263,934 1 288,740 473,312 86,237 68,089 41,774 •> ^ 288,740 5,000,408 473, 312 6,044,016 86,237 5,113,008 58,089 5, 148, 862 41, 774 5, 169, 122 5,192,006 5,219,769 5,239,793 6,261,632 5,261,233 5,270,429 6,283,440 5,288,313 6 5,000,408 536,749 5,044,016 537,469 5, 113, 008 539,310 5,146,862 639,508 5,169,122 541,363 5,192,006 543,678 5,219,759 544, 244 6,239,793 544,604 5,251,632 544, 779 6,261,233 545,859 6,270,429 646,219 5,283,440 546,219 5,288,313 646,219 6 7 536,749 2,000 537,469 2,000 639,310 2,000 639,608 2,000 641,353 2,000 643,678 2,000 644,244 2,000 544,604 2,000 544,779 2,000 546,859 2,000 546, 219 2,000 646,219 2,000 646,219 2,000 8 9 2,000 832,698 2,000 847,669 2,000 886,985 2,000 966,180 2,000 966,264 2,000 973, 336 2,000 977,727 2,000 980,347 2,000 980, 567 2,000 986,824 2,000 987,990 2,000 989,604 2,000 990,314 10 11 832,608 67,843 847, 669 67,883 886,985 68,300 966, 180 68,420 966,254 68,540 973,336 68,780 977,727 68,812 980,347 68,822 980, 567 69,221 985,824 69,246 987,990 69,246 989,604 69,246 990, 314 69,366 12 13 67,843 67,883 68,300 2 6,380 68,420 6,497 68,540 13,401 68,780 315, 126 68,812 366,096 68, 822 452,991 69, 221 452,745 69,246 192,095 69,246 199,391 69,246 141,339 69,366 192,880 14 15 "6,380 4,424,488 6,497 4,780,009 13,401 3,994,036 315, 126 11,456,905 366,096 6,466,105 452,991 2,617,801 452,745 1, 233, 654 192,096 2,373,627 199,391 2,121,400 141,339 8,935,786 192,880 9, 174, 842 16 2,338,783 2,980,499 17 2,338,783 9,067,131 2,980,499 9,952,848 4,424,488 11,126,708 4,780,009 11,557,565 3,994,036 10,796,480 11,456,905 18,551,831 6,465,106 13, 633, 743 2,617,801 9,906,358 1,233,564 8,634,508 2,373,527 9,429,784 2,121,400 9, 196, 675 8,935,786 15,967,634 9,174,842 16,263,934 18 19 6,439,608 6,499,037 6,609,603 6,712,970 6, 747, 269 6,779,800 6,812,542 6,835,566 6,848,199 6, 864, 162 6,875,884 6,890,509 6,896,212 20 ■"I 2,627,523 3,453,811 4,617,105 4,844,595 4, 049, 211 11,772,031 6,821,201 3,070,792 1,686,309 2,565,622 2,320,791 9, 077, 125 9,367,722 22 21nclud,ed in ''general and special funds," prior to 1903. 28652°— 14 9 130 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENEBAL TBEASURY CASH, A — Detailed Exhibit of the Indebtedness op MINNESOTA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate ot in- terest. AMOUNT OUTSTANDING — July 31, 1893.' July 31, 1894. July 31, 1895.1 July 31, 1890. July 31, 1897.1 July 31, 1898. July 31, 1899.' 1 Total $2, 388, 608 $2, 016, 450 SI, 914, 066 Funded debt 2 2,074,000 1.774,000 1,784,000 3 Bonds: Revenue and state buildings 1889 1891 1889 1897-98 1899 1900 1901 1902 1903 1904 1904 1905 1897 1921 4 3.5 6 4 3 3 3 3 3 3 3.5 3.5 300, 000 1, 659, 000 115, 000 4 RefuTiding 1, 659, 000 115,000 1, 419, 000 115,000 250, 000 5 Certificates of indebtedness fi Certificates of indebtedness 7 P, Certificates of indebtedness . . 9 in Certificates of indebtedness. . 11 1^ Certificates of indebtedness. . . 13 Certificates of indebtedness . . 14 15 Floating debt 314, 608 242, 450 130,066 Ifi 314, 008 242,450 130,066 B — Detailed Exhibit op General Treasury Cash and the Assets FUND AND CHARACTER OF INVESTMENT. CASH AJfD SECURITIES ON HAND — July 31, 1893.' July 31, 1894. July 31, 1895.1 July 31, 1890. July 31, 1897.' July 31, 1898. July 31, 1899.' 1 Total S12, 103, 366 S14,960,927 $14,664,795 Sinting fund 2 88,036 207, 517 56, 648 3 Cash . . 88,036 110,951 207, 517 132,425 56,648 204,368 4 Internal improvement land fund l ."i Other state bonds R Real estate mortgages 91, 769 101, 561 152,843 7 State university certificates of indebtedness R Prison building certificates of indebtedness « Cash 19,182 9,038,470 30,864 11,287,424 61,525 11,822,146 10 Permanent school fund 11 Minnesota bonds 409,000 184,000 162,000 12 Minnesota certificates of indebtedness 13 United States bonds 500,000 2, 890, 338 1, 125, 156 6,642,627 45,303 1, 159, 791 200, 000 3,284,438 1,215,491 6,280,003 680, 214 1,202,893 14 Other state bonds 774,988 1, 027, 740 6, 711, 8C3 114, 879 1.034,067 15 Cnnnt.y, snhnnl distript, pity, tnwn-^hip, fniH riitph hnnds Ifi Real estate mortgages 17 Cash 18 Permanent university fund 19 MlTinosntH bonds 350,000 155,600 300,000 317, 150 256,000 398, 300 17,600 467, 919 9,809 63,265 95, 751 20 Other state bonds 21 Village, city, and eoimty bonds 22 Real estate mortgages 509, 731 9,809 8,927 64,193 500, 238 9,809 32, 594 69, 585 23 Real estate 24 Cash 25 State institution land fund 2fi Other state bonds 27 Minnesota certiflrates of indebtedness , 2R City, village, county, and school district bonds 29 Real estate mortgages 16,941 37,252 24, 063 45,522 35, 780 69, 971 30 Cash 31 Swamp land fund 32 Minnesota certificates of indebtedness 33 Other state bonds 34 City, vUlage, county, and school district bonds 35 Real estate mortgages 36 Cash 37 General and special funds 1,777,649 2, 104, 185 1.282,989 38 Cash 1,777,649 12,103,366 2,104,185 14,960,927 1, 282, 989 14, 664, 795 39 Total Minnesota bonds 40 759,000 484,000 418,000 ♦1 Minnesota certificates of indebtedness 42 United States bonds 600,000 3,207,488 1, 125, 158 7,168,489 9,809 200, 000 3,682,738 1,233,091 6,936,645 9,809 43 Other state bonds 930, 588 1,027,740 7,330,304 9,809 44 County, school district, city, township, village, and ditch bonds 45 Real estate mortgages 46 Real estate 17 48 Prison building certificates of indebtedness 49 Cash 2,045,925 2,465,985 2,184,612 > Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Miknesota: July 31, 1893, to July 31, 1912. 131 MINNESOTA. AMOTOTT OUTSTANDING— continued. July 31, 1900. July 31, 1901.1 July 31, 1902. July 31, 1903.1 July 31, 1904. July 31, 1906.1 July 31, 1906. July 31, 1907.1 July 31, 1908. July 31, 1909.1 July 31, 1910. July 31, 1911.1 July 31, 1912. $2,164,354 $2,120,999 33,478,653 $3,683,369 $2,999,597 $2, 149, 18 ) $1,345,290 ] 2,044,000 2,034,000 3,309,000 3,680,000 2,900,000 2,100,00 900,000 1 ■ •\ 1,279,000 115,000 250,000 400,000 1,134,000 969,000 700,000 400,000 A >; 50,000 150,000 250,000 250,000 200,000 (n 7 250,000 250,000 500,000 600,000 750,000 60,006 250,000 600,000 600,000 750,000 450,000 260,000 33,369 f 100,000 500,000 600,000 750,000 450,000 100,000 99,697 400,000 600,000 750,000 350,000 300,000 500,000 60,000 50,000 1(1 11 1' ^^^ ^4 110,364 86,999 169,653 49,189 445,290 15 110, 354 86,999 169,653 33,369 99,697 49,189 445,290 16 OP Productive Funds op Minnesota: July 31, 1893, to July 31, 1912. CASH AND SECUEITIES ON HAND— Continued . July 31, 1900. July 31, 1901.1 Jiily 31, 1902. July 31, 1903.1 July 31, 1904. July 31, 1905.1 July 31, 1906. July 31, 1907.1 July 31, 1908. July 31, 1909.1 July 31, 1910. July 31, 1911.1 July 31, 1912. $16,944,419 $18,264,472 $19,904,844 $22,235,256 $25,817,880 $28,848,902 $30,266,400 1 58,602 81, 970 1 88,961 99,450 149,203 2 68,602 2 221,185 81,970 286,902 88,961 337,994 99,450 393,392 149,203 409,578 ■^ 414, 504 421,617 4 78,000 191,076 78,000 227, 577 78,000 267,681 78,000 277,810 60,000 78,000 277,930 78,000 272, 429 ■i 153,052 6 50,000 8,674 21,188,386 60,000 21,088 22,800,110 8 68,133 12,546,530 17,827 14,499,829 32,417 16,164,292 47,711 18,009,950 3,768 19,895,199 q 10 155,000 200,000 152,000 840,000 144,000 2,140,000 102,000 2,640,000 66,000 2,300,000 11 1,900,000 700,000 1*' 13 4,773,618 1,460,567 6,720,099 237,246 1,286,817 5,758,955 1,721,716 6,680,873 346,286 1,421,790 6,761,200 2,369,497 5,715,136 44,469 1,455,394 6,197,000 3,916,480 6,852,268 303,202 1,476,613 5,197,000 6,248,621 6,963,101 120,677 1,500,572 5,197,000 8,037,017 6,963,906 100, 463 1,636,664 5,197,000 10,832,651 6,928,730 141,729 1,593,891 14 IS 16 17 18 244,000 662,300 42,500 429,666 8,600 9,861 127,056 244,000 688,800 48,700 381,603 8,600 60,287 301,925 226,000 738,800 143,200 313,769 8,600 25, 126 617,485 170,000 739,000 259, 639 302,686 90,000 696,000 379,964 292,663 19 696,000 639,244 283,385 696,000 637, 444 265,056 ?n ■n fi ■y\ 6,288 783,576 43,045 17,925 6,391 74 25 138, 000 138,000 150,000 138, 000 150,000 104,000 379, 789 11,787 131,626 ?6 ■)7 "JS 35,780 91,276 119,614 44,411 221,966 7,529 80,685 ?9 30 1,246,292 1,584,276 2,674,747 31 50,000 50,000 200,000 138,000 278, 271 596,368 34,653 2,617,036 200,000 138,000 466,694 770, 494 9,088 4, 125, 182 200,000 138,000 820,956 1,466,405 49,386 2, 776, 135 3? 33 31,000 47,808 2,818 1,340,648 34 21,895 8,790 1,260,033 31 36 1,704,229 1,672,056 37 1,704,229 16,944,419 1,672,056 18,264,472 1,260,033 19,904,844 1,340,648 22,235,255 2,617,036 25,817,880 4, 126, 182 28,848,902 2, 775, 136 30,266,400 38 39 399,000 200,000 396,000 840,000 370,000 2,340,000 272,000 2,840,000 156,000 2,600,000 4(1 2,100,000 900,000 41 4? 5,325,918 1,503,067 6,338,597 8,500 6,663,755 1, 770, 415 6,372,965 8,500 6,716,666 2,502,697 6,600,333 8,600 6,162,666 4,310,119 6,850,232 6,i68,666 6, 906, 756 7,128,842 6,109,000 .. 9,042,955 6, 109, 000 12,291,061 7,922,620 43 44 7,286,715 4*1 1 46 50,000 47 60,000 4,261,232 60,000 2,992,729 4N 2,169,337 2,212,837 1,467,314 1,810,904 2,968,282 411 " 2 Included with sinking fund in the 1907 report on Wealth, Debt, and Taxation. 132 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of MISSISSIPPI. CHAEACTEK AND PUBPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING — Dec. 31, 1893.1 Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1898.1 Sept. 30, 1897.1 Sept. 30, 1898. Sept. 30, 1899. 1 Total $3,241,353 $3,234,807 $2,766,807 $2,666,048 Funded debt 1 2 3,212,035 3,208,050 1 . 2,713,783 2,641,001 Bonds; Bonds past due 1886 1888 1896 1897 1904 1907 1906 1910 M 1896 i 1^'^ 1918 1906 1899 1914-34 1927 1916 1930 1928 (') Ceased. 6 4 5 6 3.5 3.5 4 4 6 'I (') 'I 6 6 6 6 1 3 2,937 500,000 103,000 2,937 500,000 103,000 2,937 500,000 103,000 400,000 85,000 2,899 500,000 103,000 400,000 4 Educational and oh! itable purposes Revenue deficit and slunding S 6 Revenue deficit 7 Revenue deficit (specialloan) R State bonds 9 State bonds 10 State bonds It State bonds ;.. 12 Special debt obligations to public trast funds: Common school fund (old account) 817,646 3,986 852,295 544,061 160,960 227,150 817,646 13 Common school fund (distribution) 1+ Chickasaw school fund 852,298 544,061 160,960 227,150 866,635 544,061 878,891 544,061 l.'i Seminary fund 16 Swamp land fund 17 212,150 212,150 18 University of Mississippi fund 19 Agricultural and mechanical college fund Alcorn Agricultural and Mechanical College fund. Floating debt 20 21 W. 29,318 26,757 53,024 25,047 Warrants ?.3 26,132 3,186 20,860 5,897 49,683 3,341 20,982 4,065 24 25 Temporary loan B — Detailed Exhibit or General Tbeasubt Cash and the Assets op FUND AND CHARACTER OF mVESTMENT. CASH AND SECURITIES ON HAND — Dec. 31, 1893.1 Sept. 30, 1894. Sept. 30, 1895. ^&^ Sept. 30, 1897.1 ^T8l8!°' Sept. 36, 1899. 1 Total $2,692,243 $2,609,773 $1,806,297 $1,968,868 Special debt obligations to public trust fund: 2 821,632 852,295 544,061 817,646 852,296 644,061 1 866,635 544,061 878,891 644,061 4 .^pminfl.ry fuTid , 5 R Agricultural college fund . 227, 150 227,150 212, 150 212,150 7 Agricultural and mechanical college fund 8 Alcorn Agricultural and Mechanical College fund 9 Industrial institute and college fund in 160,960 86,145 160, 960 7,660 11 General and special funds 183,451 333,766 Cash T* 86,145 2,692,243 7,660 2,609,773 183,451 1,806,297 333,766 1,968,868 n Total Special debt obligations to public trust funds 11 2,606,098 86,145 2,602,113 7,660 1,622,848 183,451 1,635,102 333,766 I'i Cash ..,,- ' Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OP STATES: 1893 TO 1913— Continued. Mississippi: December 31, 1893, to September 30, 1912. MISSISSIPPI. 133 AMOUNT OUTSTANDING — Continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, S02. Sept. 30, 1903. Sept. 30, mi. Sept. 30, 1905. Sept. 30, 1906.1 Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $2,903,088 12,885,027 $2,876,624 $3,014,960 $3,393,428 $3,623,983 $3,688,727 $3,690,361 $3,588,263 $3,657,439 $4,196,712 $4,460,619 1 2,890,657 2,878,126 2,856,799 2,883,227 3,377,817 3,416,001 3,579,097 3,579,960 3,680,670 3,651,392 4,187,153 3,861,573 2 2,899 500,000 103,000 400,000 2,899 500,000 103,000 62,000 2,899 500,000 103,000 17,000 2,899 600,000 103,000 17,000 2,899 500,000 103,000 17,000 2,899 500,000 103,000 13,000 2,899 500 103,000 2,899 2,899 2,899 2,899 2,899 3 4 103,000 103,000 103,000 103,000 103,000 6 R 7 500,000 600,000 600,000 136,500 500,000 600,000 137,000 500,000 600,000 137,000 500,000 600,000 137,000 600,000 65,500 600,000 137,000 500,000 600,000 500,000 137,000 500,000 264,000 8 9 10 11 12 13 897,383 926,218 949,023 975,451 970,041 1,002,024 1,027,978 1,028,831 1,028,831 1,033,913 1,034,163 1,034,403 14 15 16 212,150 678,729 100 96,296 212, 150 678,729 140,345 96,296 156,489 6,901 212, 150 678,729 141,213 96,296 166, 489 19,826 212, 160 678,729 141,213 96,296 166,489 131,723 212, 150 678,729 141,213 96,296 156,489 15,611 212,150 688,410 141,213 96,296 167,009 207,982 212,160 700,036 141,213 96,296 168,525 9,630 212, 150 700,036 141,213 96,296 158,526 10,401 212, 150 700, 036 141,213 96,296 159,245 7,583 212,160 700,036 141,213 96,296 169,385 6,047 212,150 701,047 141,213 96,296 159,385 9,559 212, 160 701,047 141,213 96,296 159,565 608,946 17 18 19 20 21 12,531 22 8,030 4,501 4,258 2,643 19,826 131,723 16,611 7,982 9,630 10,401 7,583 6,047 9,559 8,946 23 24 200, 000 600,000 26 1 Productive Funds of Mississippi: December 31, 1893, to September 30, 1912. CASH AND SECUEITIE3 ON HAND— Continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, f903. Sept. 30, 1904. Sept. 30, 1905. Sept. 30, 1906.> Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $2,507,060 $3,038,681 $2,494,065 $2,286,754 $2,736,070 $2,649,799 $2,338,618 S2, 340, 706 $2,513,709 $2,436,804 $2,916,301 $2,595,673 1 2 897,383 926,218 949,023 975,451 970,041 1,002,024 1,027,978 1,028,831 1,028,831 1,033,913 1,034,163 1,034,403 3 4 678, 729 212,150 100 96,296 678,729 312,160 140,345 96,296 156,489 678,729 212, 160 141,213 96,296 156,489 678,729 212,150 141,213 96,296 166,489 678,729 212, 160 141,213 96,296 166,489 688,410 212,150 141,213 96,296 167,009 700,036 212, 150 141,213 96,296 158,526 700,036 212,150 141,213 96,296 158,626 700,036 212,150 141,213 96,296 169,245 700,036 212, 160 141,213 96,296 159,385 701,047 212,160 141,213 96,296 169,385 701,047 212,150 141,213 96,296 159,565 R 6 7 S 9 1ft ■ 622,402 828,454 260,165 25,426 481,162 252,697 2,320 3,655 176,938 93,811 672,047 260,999 11 622,402 2,607,060 828,464 3,038,681 260, 166 2,494,066 25,426 2,286,754 481,162 2,736,070 262,697 2,549,799 2,320 2,338,518 3,655 2,340,706 176,938 2,513,709 93,811 2,436,804 672,047 2,916,301 260,999 2,596,673 1? 13 1,884,668 622,402 2,210,227 828,454 2,233,900 260, 166 2,260,328 26,426 2,254,918 481, 162 2,297,102 262,697 2,336,198 2,320 2,337,061 3,656 2,337,771 176,938 2,342,993 93,811 2,344,264 672,047 2,344,674 260, 999 ll 134 WEALTH, DEBT, AND TAXATION. Table 1.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op MIS80TJRI. CHARACTER AND PUEPOSE OF ISSUE.- Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT ODTSTANUrNG— Dec. 31, 1893.1 Dec. 31, 1894. Dec. 31, 1895.1 Dec. 31, 1896. Deo. 31, 1897.1 Dec. 31, 1898. Deo. 31, 1899.1 1 Total $10,354,958 $9,369,839 $8,036,839 Funded debt 2 10,354,958 9,369,839 8,035,839 Bonds: Railroad subsidy 1861-55 1874 1875 1888 1912 18Sl 1881 1883 1883 1883 1885 1886 1890 1898 1902 1903 1905 1906 1910 1911 1883 1884 1885 1886 1888 1889 1891 1891 1893 1895 1896 1898 1902 1903 1904 1905 1906 1908 1909 1911 1911 1886-97 1894 1895 1908 1920-25 1911 1911 1903-08 1903-08 1903 1905 1906 1910 1918 1922 1923 1925 1926 1930 1931 1903 1904 1905 1906 1908 1909 1941 1911 1913 1945 1916 1918 1922 1923 1924 1925 1926 1928 1929 1931 1931 6 6 6 3.6 3.5 6 6 5 5 5 5 5 6 5 5 6 5 5 5 6 5 5 6 5 6 5 5 6 5 5 6 5 5 5 5 6 5 6 6 5 6 3 497,000 409,000 24,000 5,086,000 4 Funding s Penitentiary indemnity 6 Refunding 5,000,000 3,642,000 7 State capitol 8 Special debt obligations to public trast funds: Sctiool fund 2,909,000 122,000 231,000 1,076,968 2,909,000 122,000 231,000 1,107,839 2,909,000 122,000 249,000 1,113,839 9 Seminary fund " 10 School fund 11 Seminary fund 12 School fund 13 School fund 14 School fund 15 School fund Ifi School fund 17 Schoolfund IS School fund 19 School fund ?o School fund 21 W School fund 23 Seminary fund 24 Rftminflry fund . . 25 2fi Seminary fund 27 fiemiTiary fund 2S Reminnry fnnd 29 30 Seminaryfund 31 32 Rp.miTiary fuTld . . . 33 RfiTTiinflTy fund 34 Seminary fund . 35 36 Reminary fund 37' Reminary fund . . . 3S 39 Rp.Tm'nHry fnnd 40 RATTliTiary fnnd 41 4? Seminary fund . . 43 44 Private trust fund ! 41 1 I 1 1 B — Detailed Exhibit oi? General Tkeastjey Cash and the Assets of FUND AND CHARACTER OF LNTESTMENT. CASH AND SECURITIES ON HAND — Dec. 31, 1893.1 Dec. 31, 1894. Dec. 31, 1895.1 Dec. 31, 1896. Dec. 31, 1897.1 Dec. 31, 1898. Deo. 31, 1899.; 1 Total $5,058,684 $4,947,302 $5,290,949 9 286,538 106,997 71,042 Cash . ^ 286,538 3,141,539 106,997 3,141,539 71,042 3,158,923 /\ Rn.hnnl fnnd Special debt obligations to public trust funds f^ 3,140,000 1,539 1,199,053 3,140,000 1,639 1,231,138 3,168,000 923 1,236,454 6 Casli 7 Special debt obligations to public trust funds ^ 1,198,968 1,229,839 1,235,839 10 Cash 95 i,299 616 Cash T» General and special funds 431,554 487,628 824,530 Cash 11 431,554 5,068,684 467,628 4,947,302 824,530 5,290,949 1=; Total Special debt obligations to public trust funds in 4,338,968 4,369,839 4,393,839 18 Cash 719, 726 677, 463 ■ 897,110 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— ContiDued. Missouri: December 31, 1893, to December 31, 1912. MI880TTRI. 135 AMOUNT OUTSTANDING— continued. Dec. 31, 1900. Dec. 31, 1901.1 Dec. 31, 1902. Deo. 31, 1903. Deo. 31, 1904. Deo. 31, 1905. Deo. 31, 1906. Dec. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Dec. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. $6,280,839 $4,919,632 $4,433,773 $4,437,120 $4,439,272 $4,459,220 $4,446,548 $4,453,223 $4,460,332 $4,471,055 $4,480,496 $4,776,627 1 6, 280, 839 4,886,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,398,839 4,683,839 • 3 ' S 1,887,000 487,000 b 285,000 7 2,909,000 122,000 249,000 1,113,839 2,909,000 122,000 2,909,000 122,000 2,909,000 122, 000 2,909,000 122,000 2,909,000 122,000 2,909,000 122,000 2,909,000 122,000 2,909,000 122,000 2,909,000 122,000 8 ( 1( 1] 22,000 201,000 2,000 6,000 18,000 1,000 12 201,000 2,000 6,000 18,000 1,000 22,000 201,000 2,000 6,000 18,000 1,000 22,000 13 2,000 6,000 18,000 1,000 22,000 201,000 1'. 6,000 18,000 1,000 22,000 201,000 2,000 6,000 18,000 1,000 22,000 201,000 2,000 6,000 18,000 1,000 22,000 201,000 2,000 6,000 18, 000 1,000 22,000 201,000 2,000 16 18,000 1,000 22,000 201,000 2,000 6,000 18,000 1,000 22,000 201, 000 2,000 6,000 2,909,000 18,000 1,000 22,000 201,000 2,000 6,000 2,909,000 If. 17 la 1! 2( 21 22 247,000 140,000 6,000 5,000 16,000 5,000 646,958 6,000 7,000 27,881 3,000 6,000 4,000 n 140,000 6,000 5,000 16,000 5,000 646,968 5,000 7,000 27,881 3,000 6,000 4,000 247,000 ?.' 6,000 6,000 16,000 6,000 646,968 5,000 7,000 27,881 3,000 6,000 4,000 247,000 140,000 25 5,000 16,000 5,000 646, 968 6,000 7,000 27,881 3,000 6,000 4,000 247,000 140,000 5,000 26 16,000 5,000 646,958 6,000 7,000 27,881 3,000 6,000 4,000 247,000 140,000 6,000 5,000 16,000 5,000 646, 968 5,000 7,000 27,881 3,000 6,000 4,000 247, 000 140,000 5,000 6,000 27 6,000 646,958 5,000 7,000 27,881 3,000 6,000 4,000 247,000 140,000 6,000 6,000 16,000 ?8 646,968 6,000 7,000 27,881 3,000 6,000 4,000 247, 000 140,000 5,000 5,000 16,000 5,000 640,958 6,000 7,000 27,881 3,000 6,000 4,000 247,000 140,000 5,000 6,000 16,000 5,000 646,968 646,968 29 an 7,000 27,881 3,000 6,000 4,000 247,000 140,000 5,000 6,000 16,000 6,000 6,000 122, 000 81,657 7,000 27,881 3,000 6,000 4,000 247,000 140,000 6,000 6,000 16,000 6,000 6,000 122,000 91, 688 31 .s? 33 34 35 36 37 38 39 40 41 49 43 2 33, 793 34, 934 38, 281 40,433 40,381 47,709 54,384 61,493 72,216 44 33, 793 34,934 38,281 40, 433 40, 3S1 47,709 54,384 61,493 72,216 81,657 91,688 46 Productive Funds of' Missouri: December 31, 1S93, to December 31, 1912. CASH AND SECUKITIES ON HAND— OOntmued. Dec. 31, 1900. Deo. 31, 1901.1 Dec. 31, 1902. Dec. 31, 1903. Dec. 31, 1904. Deo. 31, 1905. Deo. 31, 1906. Deo. 31, 1907. Dec. 31, 1908. Deo. 31, 1909. Dec. 31, 1910. Deo. 31, 1911. Dee. 31, 1912. $6,472,771 $6,397,242 $6,232,625 $6,616,403 $6,285,290 $6,711,125 $5,361,989 $6,814,488 $5,864,319 $6,263,385 $6,462,651 $7, to, 669 1 217,323 520,204 621,291 206, 681 174, 124 4,538 104,309 2 217,323 3,158,974 520,204 3, 159, 124 621,291 3,169,124 206,681 3,169,173 174, 124 3,169,223 4,538 3,159,223 - 104,309 3,159,281 3,169,231 3, 159, 231 3, 169, 231 3,159,281 3,169,281 4 3, 158, 000 974 1,238,321 3,159,000 124 1,240,028 3,169,000 124 1,241,626 3,159,000 173 1,243,099 3, 169, 000 223 1,244,188 3,159,000 223 1,244,801 3,159,000 231 1,246,631 3,169,000 231 1,262,636 3,159,000 231 1,258,389 3,159,000 281 1,265,756 3,159,000 281 1,266,967 3,159,000 281 1,268,659 5 6 7 1,235,839 1,239,839 1,239,839 1,239,839 1, 239, 839 1,239,839 4,000 962 40, 381 1,239.839 6,000 692 47, 709 1,239,839 12,000 797 64,384 1,239,839 18, 000 550 61,493 1,239,839 25,000 916 72,216 1,239,839 25,000 2; 128 81,657 1,239,839 25,000 3,720 91,688 8 ! 2,482 189 2 33, 793 1,687 34,934 3,260 38,281 4,349 40,433 1( 11 33, 793 1,444,093 34, 934 1,275,750 38,281 1,869,169 40,433 1,667,322 40,381 2,262,182 47, 709 898,618 54,384 1,348,237 61,493 1,385,206 72, 216 1,756,133 81, 657 1,964,646 91,688 2,781,832 12 868,163 13 868, 153 6,472,771 1,444,093 6,397,242 1,275,750 6,232,626 1,869,169 6,516,403 1,667,322 6,285,290 2,262,182 6,711,125 898,518 6,361,989 1,348,237 5,814,488 1,385,206 6, 864, 319 1, 756, 133 6,253,385 1,964,646 6, 462, 551 2,781,832 7,405,669 14 15 4,393,839 4,398,839 4,398,839 4, 398, 839 4,398,839 4,398,839 4,000 2,308,286 4, 398, 839 6,000 947, 160 4,398,839 12, 000 1,403,649 4,393,839 18,000 1, 447, 480 4,393,8:9 26,000 l,829,5-;6 4,398,839 25.000 2,038,712 4,398,839 25,000 2,981,830 16 IV 1,078,932 1,998,403 1,833,786 2,116,664 1,886,451 li 2 Included in " general and special funds," prior to 1902. 136 WEALTH, DEBT, AND TAXATION. Table I — DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness op MONTJSNA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING— Nov. 30, 1893. Nov. 30, 1894. Nov, 30, 1896. Nov. 30, 1896. Nov. 30, 1897. Nov. 30, 1898. Nov. 30, 1899. 1 Total $237,473 $248,611 8417,726 $613,164 $792,258 $833,608 $1,150,959 2 Funded debt .■ 45,000 140,000 250,000 320,000 640,000 S Bonds: Agricultiiral college building 1895 1895 1897 1898 1899 1901 1901 1902 1903 1909 1909 1911 1920 1920 1927 1928 1927 1930 1921 1931 1931 1929 1913 1926 6 6 6 6 6 5 5 5 3 4 5 5 . 30,000 15,000 100,000 40,000 100,000 50,000 100,000 100,000 50,000 100,000 70,000 100,000 60,000 100,000 350,000 40,000 4 S fi State Capitol building 7 Deaf and dumb asylum building R Snhnnl nf TniTlp.t! hnilfiiTig q Normal school building (mortgage bonds) State university building (series 2) in 11 n Redeeming illegal educational bonds 13 14 Capitol building .... IS Floating debt 237,473 248, 5U 372,726 473,164 642,258 613,608 510,959 ' ifi 237,473 248,511 372,726 473,164 542,258 513,608 510,959 B — Detailed Exhibit op General Trbastjey Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES 3N HAND — Nov. 30, 1893. Nov. 30, 1894. Nov. 30, 1895. Nov. 30, 1896. Nov. 30, 1897. Nov. 30, 1898. Nov. 30, 1899. 1 Total $219,3)0 $219,597 $273,035 $269,701 $396,716 $432, 121 $739,161 flinVing fiiTid 2 2,499 2,469 13,986 19,437 40,691 3 4 Cash 2,499 166,498 2,469 176,034 13,986 210,645 19,437 253,484 40,691 309,462 5 .'^phnnl fnnH 76,538 117,456 6 21,500 21,500 21,500 21,600 92,483 166,305 97,079 7 State warrants . 8 Cash 54,038 95,965 134,998 154,634 118,162 12,813 87,179 17,640 212,383 25,974 9 TTniversity fnnd State and county securities in 10,096 13,666 11 State warrants . 12 Cash 12,813 7,444 12,308 13 i^tatA and nnnnty spp.|irftiV Normal school permanent fund •n ?4 Cash .". •>=> T? pform SC^^fil pArm^nftTit fund St,pf:o a"d pnnnty sp/'.nn't.ips 'fi 27 Cash ?8 School of mines permanent fund State and county securities 29 ' ^^n Cash V General and special funds ' 143,772 102, 142 114,038 81,198 169,272 141,660 363,034 Cash 19 143,772 219,310 102,142 219,597 114,038 273,035 81, 198 259,701 159, 272 396,716 141, 660 432,121 363,034 739,161 ^3 Total ?4 21,600 21,600 21,500 21,500 92,483 176,401 110,745 16 16 197,810 198,097 251,536 238,201 304,233 265,720 628,416 NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Montana: November 30, 1893, To November 30, 1912. 137 MONTANA. AMODNT OUTSTANDING— continued. Nov. 30, 1900. Nov. 30, 1901. Nov. 30, 1902. Nov. 30, 1903. Nov. 30, 1904. Nov. 30, ■ 1905. Nov. 30, 1906. Nov. 30, 1907. Nov. 30, 1908. Nov. 30, 1909. Nov. 30, 1910. Nov. 30, - 1911. Nov. 30, 1912, $1,167,946 $1,261,310 $1,315,252 $1,454,618 $1,489,346 $1,568,094 $1,156,068 $1,078,979 $1,229,682 $1,719,827 $1,472,779 $1,702,656 81,747^910 I 760,000 780,000 820,000 846,000 846,000 796,000 796,000 795,000 708,000 1,234,000 1,189,000 1,279,000 1,200,000 7. 100,000 50,000 100,000 350,000 40,000 120,000 100,000 50,000 100,000 350,000 40,000 120,000 20,000 100,000 50,000 100,000 350,000 40,000 120,000 20,000 40,000 100,000 60,000 100,000 360,000 40,000 120,000 20,000 40,000 26,000 100,000 50,000 100,000 360,000 40,000 120,000 20,000 40,000 25,000 100,000 100,000 100,000 90,000 3 100, 000 350,000 40,000 120,000 20,000 40,000 26,000 100,000 350,000 40,000 120,000 20,000 40,000 25,000 100,000 360,000 40,000 120,000 20,000 40,000 25,000 50,000 360,000 37,000 111, 000 5,000 40,000 26,000 5 6 7 8 9 10 360,000 360,000 350,000 350,000 384,000 500,000 339,000 600,000 279,000 600,000 150,000 423,656 200,000 500,000 150,000 547,910 13 14 15 397,946 481,310 496,262 609,618 644,346 773,094 361,068 283,979 521,582 485,827 283,779 397,946 481,310 495,262 609,618 644,346 773,094 361,068 283,979 521,682 485,827 283,779 423,566 647,910 16 Productive Funds op Montana: November 30, 1893, to November 30, 1912. CASH AND SECURITIES ON HAND— continued. Nov. 30, 1900. Nov. 30, 1901. Nov. 30, 1902. Nov. 30, 1903. Nov. 30, 1904. Nov. 30, 1905. Nov. 30, 1906. Nov. 30, 1907. Nov. 30, 1908. Nov. 30, 1909. Nov. 30, 1910. Nov. 30, 1911. Nov. 30, 1912. $736,833 $929,937 $1,046,524 $1,163,653 $1,368,889 $1,642,861 $1,988,416 $2,604,572 $3,141,509 $3,458,777 $3,930,956 $4,498,704 $5,430,388 I 55,959 88,641 116,285 54,551 183,630 86,123 317,852 84,935 180,974 181, 184 222,165 224,847 236,036 2 76,274 241,578 1,109,422 69,500 16,435 1,303,612 109,000 71,974 1,505,322 159,000 22,184 1,631,050 196,500 25,656 2,021,168 211,600 13,347 2,303,497 208, 000 27,036 3,072,564 ^ 56,959 340,496 88,641 413,022 116,285 624,393 54,551 626,767 183,630 800,021 86,123 871,803 4 5 221,078 374,716 404,799 526,788 78,147 20,822 88,654 725,547 767,588 52,600 51,715 121,304 951,750 1,200,003 1,458,747 1,499,666 1,904,642 2,063,714 2,187,309 271,380 613,875 246,961 6 119,418 32,423 38,306 45,904 119,594 69,187 74,474 105,428 167,672 137,812 103,609 168,045 46,675 183,694 131,384 190,353 116,626 219,953 239,783 230,678 8 1,128 45,000 51,000 22,872 14,782 8,589 81,000 109,200 109,200 161,200 179,000 171,700 •216,700 225,680 239,680 10 11 31,295 46,904 24,187 3,633 24,428 11,200 12,104 13,798 28,612 69,648 6,845 125,196 4,694 201,678 18,663 270,363 3,253 318,095 4,998 325,865 7,271 349,725 12 13 11,000 2,798 11,000 48,648 91,000 34, 196 170,218 159,272 42, 406 212, 644 256,720 13,633 230,234 256, 720 61,375 179,773 322,970 2,895 332,370 17,355 14 3,633 8,689 11,200 16 Ifi . 114,507 66, 711 66, 291 166,314 46,330 109,508 206,217 24,017 118,857 78, 892 100,881 119,576 17 IS 121,445 125,395 It 40,000 26, 291 136,855 69,600 40,008 262,527 114,500 4,367 306,306 117,500 2,076 327,610 120,100 1,346 333,762 125,069 326 345,624 ?0 21 ??, 53,389 83,466 39,648 221,450 41,077 47,832 297,650 8,666 68,116 302,650 24,960 69,288 328,760 6,012 71,056 336, 116 9,409 73,587 23 24 25 32,305 7,343 125,308 38,642 9,190 196,307 67, 142 973 197,723 67,142 2,146 226,922 70,492 664 236,553 72,592 995 267,568 26 27 28 50,812 74,496 284,464 175,467 20,840 241,023 189, 700 8,023 264,602 222, 166 3,767 227,416 232,417 3,136 662,001 256,232 11,336 714,038 29 30 307,956 382, 470 334,026 386, 102 268,610 549,833 363,681 31 307,966 736,833 382,470 929,937 334,026 1,046,524 386,102 1,163,653 268,610 1,368,889 549,833 1,642,861 363,681 1,988,415 284,464 2,604,572 241,023 3,141,609 264,602 3,458,777 227,416 3,930,956 652,001 4,498,704 714, 038 5,430,388 32 33 222,206 374, 716 449,799 677,788 101,019 4^,846 806,547 887,788 52,600 702,573 1,148,224 1,812,716 2,677,392 2,962,295 3,362,801 3,675,623 3,767,367 271,380 1,401,641 34 36 614,627 555,221 596,726 562,342 840,191 691,866 564,117 496,482 668, 166 923,081 36 138 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness of NEBRASKA. CHARACTEE AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING— Nov. 30, 1893.1 Nov. 39, 1894. Nov. 30, 1895.1 Nov. 30, 1896. Nov. 30, 1897.1 Nov. 30, 1898. Nov. 30, 1899.1 1 Total SI, 188, 932 $2,164,048 Jl, 727, 570 Funded debt f. 549,267 468,267 153,267 Bonds; Funding 1877 1891 1S97 1896 8 4 3 449,267 100,000 639,665 449,267 19,000 1,995,781 153,267 4 Farmers ' relief 5 .^. 1,574,303 ■Wfl.rrfl.Titti ft 639,665 1,995,781 1,674,303 B — Detailed Exhibit op General Treasury Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND— Nov. 30, 1893.1 Nov. 30, isg*. Nov. 30, 1895.1 Nov. 30, 1896. Nov. 30, 1897.1 Nov. 30, 1898. Nov. 30, 1899.1 1 Total 83,874,367 $4,731,357 $3,941,320 SinMngfund ? 51,947 137,738 14,223 Cash 3 61,947 3,293,686 137,738 3,631,789 14,223 3,439,764 4 5 326,267 345,267 153,267 6 7 United States bonds 15,000 15,000 15,000 8 Other state bonds <) 2,535,105 2,796,015 29,469 3,004,895 28,134 in School district bonds 11 Municipal bonds n 13 Cash 417,314 48,680 447,038 52,066 238,468 58,085 14 TTnivfiraity fund 15 16 Other state bonds 17 County bonds . . , . . . ... 32,600 32,500 41,500 IS Municipal bonds ' W ?n Cash 16, 180 85,369 19, .566 101,955 16,585 68,637 ''1 Agricultural college fund Nebraska warrants . . ■>? ?a 94 40,000 40,000 60,000 '■i Municipal bonds » ?7 Cash 45,369 31,498 61,955 34,000 8,637 27,057 ?8 Nnrmfll nnllfigft p.ndnwmp.nt fnnrl County bonds W 16,000 16,000 24,000 3n 31 3? Cash 15,498 29,469 18,000 3,067 33 PfirmfiTipnt Hfllirtfi fund ?4 29,469 35 3fi General and special funds 333,718 773,809 343,554 Cash 37 333,718 3,874,367 773,809 4,731,3.57 343,554 3,941,320 38 Nebraslca bonds 30 328,267 345,267 153,267 40 ■11 United States bonds 15,000 15,000 15,000 4' 13 County bonds 2,623,605 29,469 2,883,516 29,469 3,120,395 28,134 44 ■15 Municipal bonds 46 ■17 Cash 880,026 1,458,106 624, .524 1 Not reportPd. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Nebraska: November 30, 1893, to November 30, 1912. 139 NEBKA8KA. AMOUNT OUTSTANDING — Continued. Nov. 30, 1900. Nov. 30, 1901.1 Nov. 30, 1902. Nov. 30, 1903.1 Nov. 30, 1904. Nov. 30, 1906.1 Nov. 30, 1906. Nov. 30, 1907.1 Nov. 30, 1908. Nov. 30, 1909.1 Nov. 30, 1910. Nov. 30, 1911.1 Nov. 30, 1912. 81,782,485 $2,005,001 $2,342,980 $1,986,489 $836, 417 $234,452 $374,394 1 t ^ 1,782,485 2,005,001 2,342,980 1,986,489 836,417 234,452 374, 394 S 1, 782, 485 2,005,001 2,342,980 1,986,489 836,417 234, 462 374,394 ft Productive Funds of Nebraska: November 30, 1893, to November 30, 1912. CASH AND SECURITIES ON HAND — Continued. Nov. 30, 1900. Nov. 30, 1901.1 Nov. 30, 1902. Nov. 30, 1903.1 Nov. 30, 1904. Nov. 30, 1906.1 Nov. 30, 1906. Nov. 30, 1907.1 Nov. 30, 1908. Nov. 30, 1909.1 Nov. 30, 1910. Nov. 30, 1911.1 Nov. 30, 1912. 84,980,563 $5,889,233 $6,607,808 $7,780,530 $8,660,233 $9,464,980 $9,881,298 1 ? 66,165 4,275,023 1 5,072,366 6,744,556 6,786,691 7,522,140 8,100,970 8,482,143 4 5 i, i65, 762 15,000 1,421,108 15,000 67,000 3,553,937 15, 190 1,765,914 15,000 614,000 3, 449, 437 10,205 1,589,816 15,000 1,847,000 3, 315, 737 9,605 ■672,039 195, 481 ft 7 3,944,300 2,886,150 8,529 3,829,300 2,955,400 484,656 828,000 2, 717, 300 2,512,700 937,233 1,860,160 267, 492 1,787 218,377 S 2,964,290 24,002 9 in 11 i' 105,969 76,112 131 101,694 9,633 166,060 11, 122 189,029 3,615 208,308 13 126,146 14 36,991 15,551 14,000 71,500 40,646 14,000 71,500 62,660 39,000 64, 400 89,222 39,000 60, 800 108,510 39,000 66,000 5,000 67, 479 14,000 49,600 48,000 34,000 5,298 545,064 15 Ifi 36,500 17 18 19 2,621 130,274 643 225,366 7 497,957 798 561,342 ?n 331,327 433,646 'i 20,692 35,000 169,000 117,327 47,000 ■ 167,000 161,471 127,000 165,000 63, 940 331,000 113,000 73,826 231,000 143,000 35,000 28,863 231,000 111,000 122,600 46,900 4,711 80,819 oo 'S 108,000 '4 ""i •'ft 22, 274. 44,084 674 59, 813 175 71,946 17 77,819 38, 517 77,819 97 68,926 n% 15,000 69,000 69,000 9,926 66,800 15, 141 56,600 21,216 76,000 69,200 9q ?n 15,000 6,619 ?1 29,084 813 4 3 1,819 39 33 34 35 398,905 429,994 336,854 322, 188 373,288 656,641 654, 895 3fi 398,905 4,980,563 429,994 6,889,233 336, 864 6,607,808 322, 188 7,780,530 373,288 8, 660, 233 666,541 9,464,980 564,896 9,881,298 37 38 39 1,202,753 15,000 1,457,351 16,000 116,000 3,853,437 16,190 1,923,812 15,000 575,000 3,746,937 10,205 1,819,088 15, 000 2,013,000 3,691,937 9,606 836,417 182,335 291, 813 4(1 41 4,314,300 3,116,550 8,529 4,099,300 3,229,400 484,655 868,000 2,962,300 2,732,500 1,018,133 2, 035, 760 267, 492 573,310 49 3, 123, 790 24,002 43 44 45 1 46 615,018 432,255 336, 854 331,900 384,437 601,290 47 140 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness of NEVADA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT ODTSTANDINa — Dec. 31, 1893. Deo. 31, 1894. Deo. 31, 1895. Dec. 31, 1896. Dec. 31, 1897. Deo. 31, 1898. Dec. 31, 1899. 1 Total $583, 764 $537,629 $638,486 $618,433 $675,448 $684,484 $673,377 Fmideddebt 2 569,000 530,000 630,000 607,000 672,364 667,364 671,739 3 Bonds: General revenue 1881 1889 1889 1891 1893 1893 1895 1895 1895 1897 1897 1899 1901 1893 1895 1897 1901 1903 1905 1910 1912 1893 1894 1895 1896 1897 1900 1905 1910 1893 1894 1895 1896 1897 1898 1910 1879 1902 1899 1920 1901 1903 1903-04 1915 1905-06 1905 1917 1907-^8 1909 1921 1903 1905-15 1907-17 1921 1923 1925 1930 1932 1903 1904 1905 1906 1907 1910 1915 1930 1903 1904 1905 1906 1907 1908 1930 0) 5 15,000 56,000 38,000 50,000 20,000 10,000 4 General revenue 25,000 38,000 50,000 20,000 17,000 25,000 38,000 50,000 20,000 17,000 38,000 59,000 3,000 a Rta.tp. nnivPTRit.y 38,000 47,000 20,000 17,000 38,000 64,000 3,000 38,000 47,000 20,000 17,000 38,000 64,000 3,000 23,764 41,600 38,000 35,000 20,000 17,000 35,000 64,000 3,000 23,764 61,600 38,000 35,000 20,000 17,000 35,000 64,000 3,000 23,764 61,600 4,375 fi 7 General revenue . , . s Ptp-tA uTi 1 versi t,y <) n General revenue n State university . . I? State university .- 13 14 15 1ft State school 17 IS 1<) State school ?n n State school ?? ?3 State school ?4 ?,"; University f 90,000-acre grant) ?,fi University (90,000-acre grant) ?7 University (90,000-acre grant) M University (90,000-acre grant J ?q University (90,000-acre grant) w University (90,000-acre grant) SI University (90,000-acre grant) w S tate university 13 14 State university 15 Ifi 17 State university 1R State university . . , . . 10 Special debt obligations to public trust funds: 380,000 14,764 380,000 7,629 380,000 8,486 380,000 11,433 380,000 3,084 380,000 17,120 380,000 1,638 40 Floating debt Warrants 41 14, 764 3,416 4,213 8,486 11, 433 3,084 17, 120 1,638 4'' 1 B — Detailed Exhibit of General TREAStmy Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AMD SECURITIES 3N HAND— Deo. 31, 1893. Dec. 31, 1894. Dec. 31, 1895. Dec. 31, 1896. Deo. 31, 1897. Deo. 31, 1898. Dec. 31, 1899. 1 Total $1,468,311 $1,449,263 $1,517,894 $1,519,890 $1,570,309 $1,587,278 $1,627,201 Sinking fund ?. 32, 222 4,332 23,142 3,213 28,590 21,038 36,819 ^ Cash 32, 222 1,094,238 4,332 1,103,646 23,142 1,144,541 3,213 1, 163, 170 28,590 1,207,399 21,038 1,243,537 36,819 1,285,944 4 School fund S Nevada bonds 141,000 380,000 450,000 95,000 380,000 550,000 181,000 380,000 650,000 163,000 380,000 690,000 214,764 380,000 590,000 199,764 380,000 644,000 204, 139 380,000 644,000 f^ Special debt oblifcations to public trust funds 123,238 126, 145 78,646 126,928 33,541 129,426 40,170 131,418 22,635 128,154 19,773 131,476 57,805 142,894 in University fund 48,000 60,000 55,000 50,000 69,000 60,000 74,000 50,000 77,600 60,000 87,600 41,000 87,600 41,000 1? M Cash 28,145 215, 706 21,928 214,367 10,426 220,785 7,418 222,089 554 206,166 2,876 191,227 14,294 161,544 15 General and special funds Cash 215, 706 1,468,311 214,357 1,449,263 220,785 1,517,894 222,089 1,519,890 206, 166 1,570,309 191,227 1,587,278 161,544 1,627,201 Total l*' 189,000 380,000 500,000 150,000 380,000 600,000 250,000 380,000 600,000 227,000 380,000 640,000 292,364 380,000 640,000 287,364 380,000 685,000 291,739 380,000 685,000 19 firippial (ipht obligations to nublic trust funds 20 21 399,311 3i9,263 287,894 272,890 257,945 234,914 270,462 1 Irredeemable. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PKODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Nevada: December 31, 1893, to December 31, 1912. 141 NEVADA. AMOUNT OUTSTANDING — Continued. Dec. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Dec. 31, 1904. Dec. 31, 1905. Dec. 31, 1900. Dec. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Dec. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. $676,957 $645, 210 $642,398 $647,448 $654,715 $652,823 $651,043 $611,655 $603,081 $528, 243 $617, 495 $493, 143 $670, 759 1 657, 600 633, 100 620, 100 &30, 100 C-35, 100 633,700 613,000 686, 700 550, 000 602, 000 652, 000 463, 000 614, 000 2 38,000 35, 000 20,000 17, 000 33,000 64,000 3,000 16,000 51,600 38,000 6 6 20,000 17,000 32,000 64,080 3,000 12,000 51,600 7 8 q in 11 T>, n 11 15,500 15 15,000 78,000 44,000 15,500 15,000 78,000 44,000 16, 500 10,000 Ifi 76,000 38,000 15, 500 38,000 74,000 38,000 10, 100 34,000 16,000 01,000 38, 000 8,400 32,000 16,000 59,000 38, 000 6,700 28,000 16,000 65,000 33,000 2,000 24,000 16,000 37,000 23,000 29,000 17 IS 19 20,000 16,000 12,000 11,000 80,000 ''n 9,000 45,000 7,000 23,000 175,000 1'} '>3 4,000 2,000 6,000 3,000 2,000 38,000 4,000 2,000 5,000 3,000 2,000 38,000 4,000 2,000 5,000 3,000 2,000 38,000 4,000 2,000 4,000 2,000 4,000 2,000 4,000 2,000 4,000 2,000 ?4 2,000 ■"i ''fi 2,000 2.000 38,000 6,000 ■>7 ''S 38, 000 6,000 24,000 6,000 14,000 6,000 ■>q 6,000 5,000 24,000 4,000 24,000 4,000 24,000 ^0 ^1 6,000 5,000 9,000 2,000 1,600 10,000 6,000 5,000 9,000 2,000 1,600 10, 000 6,000 5,000 9,000 2,000 1,600 10,000 6,000 5,000 3,000 2,000 1,600 10,000 6,000 5,000 3,000 2,000 1,600 10,000 6,000 2,000 3,000 2,000 1,000 10,000 6,000 2,000 3,000 2,000 1,000 6,000 2,000 3,000 2,000 1,000 3? 2,000 3,000 2,000 1,000 ?? ^6 ?7 1,000 380,000 65, 495 1,000 380,000 30,143 1,000 380,000 56,759 ?8 380,000 19,357 380,000 12, 110 380,000 22,298 380,000 17,348 380,000 19,615 380,000 19,123 380,000 38,043 380,000 24,955 380,000 53,081 380,000 26,243 39 40 17, 852 1,505 12,110 22,298 17,348 19,615 19, 123 38, 043 24, 955 53, 081 26,243 66, 495 30, 143 66,759 41 IProductive Funds of Nevada: December 31, 1893, to December 31, 1912. CASH AND SECUEITIES ON HAND— Continued . Dec. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Dec. 31, 1904. Dec. 31, 1906. Dec. 31, 1900. Dec. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Dec. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. SI, 691, 611 $1,723,121 $1,808,717 $1,899,855 $1,970,937 $2,048,441 $2, 252, 310 $2,521,055 $2,677,727 $2,672,785 $2,717,631 $2,495,066 $2,703,028 1 29, 601 18,829 18,494 44,570 38, 179 38, 203 41,702 63,718 62,640 67,245 75,448 41, 139 63,064 2 29, 501 1, 324, 892 18,829 1, 379, 493 18,494 1,415,031 44,670 1,614,255 38,179 1,548,493 38,203 1,697,962 41,702 1,658,897 63,718 1,723,306 62,640 1,768,255 67,245 1,958,362 75,448 2,047,463 41, 139 2, 097, 431 63,004 2,184,702 3 4 175,000 380,000 744, 000 165, 600 380, 000 779,000 152, 500 380,000 869,000 162, 500 380,000 215,000 685, 000 71,755 136,733 167,500 380,000 215, 000 685,000 100,993 136,946 172, 100 380, 000 215,000 791, 000 39,862 142, 415 155,400 380,000 215,000 880,000 28, 497 145, 796 146,700 380,000 215, 000 958,000 23,606 150, 841 130,000 380,000 216, 000 1,008,000 35,255 153,368 96,000 380,000 215,000 1,193,000 74,362 154,572 132, 000 380,000 215,000 1,193,000 127,403 156, 372 54, 000 380, 000 215,000 1, 193, 000 256, 431 156,954 205,000 380,000 215, 000 1,193,000 191,702 167, 334 ( 6 7 8 25,892 136, 124 54,993 143,002 23,631 136,757 9 10 87, 600 41,000 87, 600 41,000 87, 600 41,000 87, 600 87, 600 81, 000 77,600 60, 000 40, 000 26,000 40, 000 29,000 29, 000 11 I'' 41,000 8,133 204,297 41,000 8,346 247, 319 59,000 2,415 269, 871 65,000 3,196 406,915 87,000 3,841 593, 190 102,000 11,368 693, 464 102,000 26,572 392,606 io2,m 14, 372 438,248 102,000 25,954 199, 542 102,000 26,334 297,928 13 6,624 202, 094 14,402 181, 797 a 7, 157 239,436 14 IS 202, 094 1, 691, 611 181,797 1,723,121 239,435 1,808,717 204,297 1,899,855 247,319 1,970,937 269, 871 2,048,441 405, 915 2, 252, 310 593, 190 2,521,055 693, 464 2,677,727 392,606 2,572,785 438,248 2,717,531 199,542 2,495,066 297,928 2,703,028 16 17 262, 600 380, 000 785,000 253, 100 380,000 820, 000 240,100 380,000 900,000 250, 100 380,000 216, 000 726, 000 328, 765 265,100 380, 000 215,000 720,000 394, 837 263, 100 380, 000 216,000 850,000 350,341 233, 000 380,000 215, 000 945, 000 479,310 206, 700 380, 000 215, 000 1,045,000 674,356 170, 000 380,000 215,000 1,110,000 802, 727 122, 000 380, 000 215,000 1, 295, 000 560,785 172, 000 380, 000 215,000 1, 295, 000 656,531 83,000 380, 000 215, 000 1, 295, 000 622,066 234, 000 380,000 216, 000 1,295,000 679, 028 18 19 20 ?1 264,011 270, 021 288,617 22 2 Difference in cash, included in ' ' general and special funds." 142 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op NEW HAMPSHIRE. CHAKACTER AND PURPOSE OP ISSXIE. Year of issue. Year of ma- turity. Bate of in- terest. AMOUNT OUTSTANDING — May 31, 1894. May 31, 1895. May 31, 1896. May 31, 1897. May 31, 1898. May 31, 1899. May 31, 1900. 1 Total $2, 654, 713 $2,526,492 $2,394,318 $2, 263, 406 $2,136,741 $2,026,020 $1,912,792 Funded debt •?. 2,652,761 2,624,699 2,392,302 2,261,209 2, 134, 545 2,022,452 1,903,106 Bonds: Bonds past due P) 1872 1891-93 1893 1906 19n8 1909 1909 1910 1910 1910 1910 1910 1911 1911 1911 1911 1912 1912 1912 1884 1886 ( 1892 1 \ 1905 / 1913 1913 1913-25 1927 1929 1919 1914 1915 1916 1916 1917' 1917 1918 1920 1921 1922 1923 1924 1 i Ceased. 6 4 4 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3 3.5 3.5 3.5 3.5 3.5 3.5 3.5 3.5 6 6 6 6 6 4 4 4 R 500 1,654,800 250,000 136,000 500 1,508,800 260,000 135,000 600 1,354,900 260,000 135,000 600 1,201,300 250,000 135,000 600 1,051,300 250,000 135,000 500 904,300 250,000 136,000 500 759,800 260,000 135,000 4 S R Agricultural college 7 State hospital S State hospital 9 State hospital in ( 11 State highway 1? State highway 13 State highway 14 State highway 15 State highway Ifi State highway .' 17 State highway IS State highway 19 State highway ?n State highway 91 State highway ?,? State highway ?fi Special debt obligations to public trust funds: Tp.a,nhflrs' insfitnt/^ fnnH 57,193 80,000 26,378 6,763 3,266 425,622 13,249 57,722 80,000 26,378 6,753 57,723 80,000 26,378 6,753 57,868 80,000 26,378 6,763 57,949 80,000 26,378 6,753 68,669 80,000 26,378 6,753 68,669 ' 80,000 26,378 6,753 > ?4 Agricultural college fund. . '5 Fiske legacy . . T ?fi W •m Benjamin Thompson trust fund 442, 647 16,899 460,363 20,695 478,767 24,643 497,917 28,748 617,834 33,018 10,000 3,668 538,547 37,459 10,000 9,686 29 in Benjamin Thompson state trust fund TTftTTiiltnn firriTth trnst? fnnrl , 11 Floatingdebt 1,952 1,793 2,016 2,196 2,196 3? 100 1,852 100 1,693 100 1,916 100 2,096 100 2,096 100 3,468 100 9,586 : 33 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued, New Hampshire: May 31, 1894, to August 31, 1912, new hampshire. 143 AMOUNT OUTSTANDING — Continued, May 31, 1901. May 31, 1902. May 31, 1903. May 31, 1904. ""&':■ May 31, 1906, May 31, 1907,1 Aug. 31, 1907. AuR, 31, 1908, Aug, 31, 1909. Aug. 31, 1910. Aug, 31, 1911. Aug. 31, 1912, «1, 793, 794 SI, 669, 071 $1,025,895 $871,205 $882,281 $1,150,293 $1,260,710 $1,360,713 $1,514,385 $1,732,698 $1,871,366 $2,120,611 1 1,779,361 1, 660, 654 1,002,931 846, 124 837,896 1,107,762 1,121,021 1,299,647 1,469,655 1, 691, 074 1,830,739 2, 070, 739 2 500 609,800 250,000 135, 000 500 453,700 250,000 135,000 2 600 303,700 250,000 135,000 2 600 152,700 250,000 135,000 2 000 8,200 250, 000 135,000 2;600 4,200 250,000 136, 000 200,000 2 2,300 2 1,800 21,800 21,800 2 1,100 21,100 S 4 250,000 135,000 180,000 250,000 135,000 170,000 150,000 260,000 135,000 160,000 160,000 86,000 60,000 260,000 135,000 160,000 160,000 85,000 60,000 76,000 76,000 25,000 60,000 25,000 75,000 135, 000 140,000 150,000 86,000 60,000 76,000 76,000 25,000 60,000 25,000 60,000 76,000 75,000 50,000 75,000 135,000 130,000 150,000 86,000 50,000 75, 000 75,000 25,000 60, 000 25,000 50,000 75,000 75,000 75,000 76, 000 76,000 76,000 59,598 80,000 26,378 6,753 a « 7 1 1 s -. ' 1 9 I in \ 1 n 1 12 1 1 13 1 < \ 1 1 14 1 1 I 1 1 15 1 1 1 i 1 16 1 17 1 i 1 1 IS 1 1 1 19 1 1 ?n 21 n 58, 764 80,000 26, 378 6,753 58,949 80,000 26,378 6,753 59,099 80,000 26,378 6,753 59,317 80,000 26,378 6,753 59,470 80,000 26,378 6,763 59,529 80,000 26,378 6,763 59,629 80,000 26,378 6,753 69,561 80,000 26, 378 6,763 59,598 80,000 26,378 6,763 59,698 80,000 26,378 6,763 69,598 80,000 26,378 6,753 w ?A ?5 ?6 27 660,089 42,077 10,000 14, 433 582,493 46,881 10,000 18,417 79,525 51,876 10,000 22,964 67,305 57,071 10,000 26,081 199,021 62,474 10,000 44,385 267, 199 68,093 10,000 42,641 297,125 73,936 10,000 139,689 330, 141 80,014 10,000 51, 066 368,692 86,334 10,000 44,830 436,645 511,910 511,910 ?S ?9 10,000 41,624 10,000 40, 627 10,000 49,872 30 31 100 14,333 100 18,317 100,000 39, 689 391 22,964 26,081 44, 385 42^541 51,066 44,830 41,624 40, 627 49,872 33 2 Includes SlOO reported as a temporary loan in earlier years. 144 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, B — Detailed Exhibit or General Tbeasuhy Gash and the Assets of NEW HAMPSHIRE— Continued. FUND AND CHABACTEE OF I^fVESTMENT. CASH AND SECUBITIES ON HAND— May 31, 1894. ""!&!}• May 31, 1896. May 31, 1897. May 31, 1898. May 31, 1899. May 31, 1900. 1 Total 11,223,566 81,123,412 $1,211,304 81,260,607 $1,456,856 $1,416,575 $1,644,498 ? 3 4 Cast . . a 57,193 57,722 67,723 57,868 57,949 58,669 58,669 Special debt obligations to public trust funds fi 67,193 80,000 57,722 80,000 57,723 80,000 57,868 80,000 57,949 80,000 58,669 80,000 58,669 80,000 7 Agricultural college fund 8 80,000 425,622 80,000 442,647 80,000 460,353 80,000 478,767 80,000 497,917 80,000 517,834 80,000 638,547 9 RpfiPifll dflht obligfl+iOTiS tn plibh'n tr"st fu^'is. 10 425,622 442,647 460,353 478,767 497,917 517,834 538,547 11 Securities. ^9, 364,995 366,485 368,081 368,923 372,998 374,954 367,593 Special debt obligations to public trust funds ... n 13,249 351,746 16,899 349,586 20,695 347,386 24,643 344,280 28,748 344,250 33,018 341,936 10,000 37,459 330,133 10,000 14 Other securities 15 16 10,000 26,378 10,000 26,378 17 26,378 26,378 26,378 26,378 26,378 Spprial dp.ht- nhligat-inriq t" pnhli'f^ frnit- fliTn^s IS 26,378 6,753 26,378 6,753 26,378 6,753 26,378 6,753 26,378 6,753 26,378 6,753 26,378 6,763 19 Kimballlegacy ?n 6,753 3,266 6,753 6,753 6,753 6,753 6,753 6,763 ?i Surplus revenue fund •79 3,266 1,852 9^ 1,693 1,916 2,096 2,096 3,468 9,586 Cash . . ''1 1,852 257,507 1,693 141,734 1,916 210,100 2,096 239,822 2,096 412,765 3,468 338,619 9,586 446,973 ''t General and special funds. . . Cash 96 257,507 1,223,566 141,734 1,123,412 210,100 1,211,304 239,822 1,260,607 412, 765 1,456,856 338,519 1,416,575 446,973 1,544,498 97 Total "IS 612,461 351,746 259,359 630,399 349,586 143, 427 651,902 347,386 212,016 674,409 344,280 241,918 697,745 344, 250 414,861 732, 652 341,936 341,987 757,806 330,133 456,659 99 in Cash . , I Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OP STATES: 1893 TO 1913- Continued. Productive Funds of New Hampshire: May 31, 1894, to August 31, 1912. NEW HAMPSHIRE— Continued. 145 CASH AND SECDKITIES ON HAND— continued. May 31, 1901. May 31, 19u2. May 31, 1903. May 31, 1904. May 31, 1905. May 31, 1906. May 31, 1907.1 Aug. 31, 1907. Aug. 31, 1908. Aug. 31, 1909. Aug. 31, 1910. Aug. 31, 1911. Aug. 31, 1912. SI, 562. 456 51,717,137 81,212,009 $1,116,314 8986,374 81,177,094 81,087,478 $1, 150, 702 81,117,925 81,410,697 81,380,197 81,713,748 50,202 115,000 165,000 1 65,000 60,000 59,598 165,000 50, 292 69,698 58, 764 58,949 59,099 69,317 59, 470 69,529 69,529 59.561 69,598 69,598 58, 764 80,000 58, 949 80,000 59, 099 80,000 59,317 80,000 59, 470 80,000 59,529 80,000 59,529 80,000 59,561 80,000 69,698 80,000 69,698 80,000 59, 598 80,000 59,598 80,000 80,000 560, 089 80, 000 582, 493 80,000 605, 793 80,000 630,024 80, 000 655, 225 80,000 681,434 80,000 708,692 80,000 737,039 80,000 766,521 80,000 797, 182 80,000 797,182 80,000 797,182 560,089 682, 493 79, ,525 526, 268 51,876 67,305 662,719 67,071 199,021 456, 204 62,474 267, 199 414,235 68,093 297, 125 411,567 73,936 330,141 406, 898 80,014 368,692 397,829 86,334 436,545 360,637 611,910 285,272 511,910 285, 272 371,989 376,325 42,077 329,912 10,000 46,881 329,444 10,000 51, 876 57,071 62,474 68,093 73,936 80,014 86,334 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 10,000 26, 378 10,000 26,378 10,000 26,378 10,000 26,378 10,000 26,378 10,000 26,378 10,000 26, 378 10,000 26, 378 10,000 26,378 10,000 26,378 10,000 26,378 10,000 26,378 26, 378 6,753 26,378 6,753 26, 378 6,753 26,378 6,753 26,378 6,753 26,378 6,763 26, 378 6,753 26,378 6,753 26,378 6,753 26,378 6,753 26,378 6,753 26,378 6,763 6,753 6,753 6,763 6,753 6,753 6,753 6,753 6,753 6,763 6,763 6,753 6,763 14,333 18,317 22,964 26,081 44, 385 42, 541 39, 089 51,066 44,830 41,624 40,627 49,872 14,333 434,150 18,317 557,922 22,964 349, 146 26,081 220,890 44,385 41,689 42,641 202,366 39, 689 82, 501 51,066 99, 891 44,830 37,511 41,624 338,770 40,627 244,659 49, 872 518,965 434,150 1,562,456 557,922 1,717,137 349, 146 1,212,009 220,690 1,116,314 41, 689 986,374 202, 366 1,177,094 82, 601 1,087,478 99,891 1,150,702 37, 511 1,117,925 338,770 1,410,597 244,669 1,380,197 618, 966 1,713,748 784,061 329,912 448,483 811,454 329, 444 «76,239 313,631 526,268 372, 110 306,824 562, 719 246,771 444,096 456, 204 86,074 617,962 414,236 244,907 553, 721 411,667 122, 190 592,847 406, 898 150, 967 637, 765 397, 829 82,341 619, 274 360,637 430, 686 694,639 350,272 335, 286 694, 639 450, 272 568,837 28652°— 14- -10 146 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENEKAL TREASUBY CASH, A — Detailed Exhibit op the Indebtedness of NEW JERSEY. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma. turity. Rate of in- terest. AMOUNT OUTSTANDING — Oct. 31, 1893. Oct. 31, 1894. Oct. 31, 1895. Oct. 31, 1896. Oct. 31, 1897. Oct. 31, 1898. Oct. 31, 1899. 1 Total $837,400 $735,400 $692,000 $625,000 $442,000 $242,000 $119,000 ■pnnHftf] dPht t. 837,400 735,400 692,000 625,000 442,000 242,000 119,000 Bonds: War debt 1863 1864 1895 1886-96 ( 1896- \ i 1902/ 0) 6 6 5 3 244,000 593,400 142,000 593,400 67,000 593,400 31,600 4 War debt. 593,400 31,600 394,000 48,000 194,000 48,000 71,000 48,000 5 Special debt obligations to public trust funds: fi Floating debt 7 B — Detailed Exhibit of General Treasury Cash and the Assets of FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND— Oct. 31, 1893. Oct. 31, 1894. Oct. 31, 1895. Oct. 31, 1896. Oct. 31, 1897. Oct. 31, Oct. 31, 1899. Total... Sinking fimd . School district bonds , Real estate mortgages , Due from Tbomas Crozier's decree. Real estate Cash School fund. New Jersey bonds Municipal, county, and township bonds. School district bonds Railroad and bank stock Real estate mortgages Riparian leases Real estate Cash Agricultural college fund. New Jersey bonds Special debt obligations to public trust funds. Cash Special railroad deposits. Cash $5,280,841 $5,459,836 $5,275,466 $5,304,971 $5,280,663 $5,273,658 $5,502,312 453,040 441,346 412,957 396,363 353,360 296,198 6,441 *2,683 6,441 234,583 6,441 236,683 6,441 237,383 6,000 187,383 5,000 156,983 199,317 4,599 3,693,621 198,940 1,382 3,726,934 166,580 3,263 3,664,061 150,984 1,555 3,644,279 148,843 11,134 3,677,247 133,678 637 3,671,236 102,000 ,595,500 292,837 146,600 656,114 633,510 111,950 255,210 73,000 1,620,500 328,660 146,600 541,214 730,902 67,950 218, 208 116,000 73,000 1,587,725 363,432 146,500 536,964 733,420 57,400 165,620 116,000 51,000 1,680,950 372,225 146,600 625,904 760,136 62,500 65,004 116,000 19,000 1,723,175 411,805 146,500 508,963 757,669 65,500 54,645 116,000 2,000 1,736,100 449,036 146,500 456, 714 738,706 66,000 86,181 116,000 115,400 600' 115,400 666' 84,400 31,600 84,400 31,600 68,000 48,000 68,000 48,000 260,613 5,000 136,083 114,927 4,603 3,683,846 1,850,625 427,115 146,500 432,614 698,618 68,000 60,674 116,000 68,000 48,000 General and special funds (state funds) . Railroad and canal stock. Riparian leases Cash Total. 1,018,180 1,082,448 1,148,3 1,134,046 1,190,224 188,700 106,442 721,038 188,700 '986,' 866' 188,700 '893,'748 188,700 '959' 629 188,700 6,280,841 New Jersey bonds Special debt obligations to public trust funds Municipal, county, and township bonds I 1 School district bonds Railroad and canal stock Railroad and bank stock Due from Thomas Crozier's decree Riparian leases Real estate mortgages Real estate ; Cash 217,400 5,459,836 188,400 696,500 299,278 188,700 146,500 1,620,500 335,101 188,700 146,600 6,275,466 167,400 31,600 1,587,725 369,873 188,700 146,600 6,304,971 135,400 31,600 1,680,950 378,606 188,700 146,600 945,346 5,280,653 87,000 48,000 1,723,175 417,805 188,700 146,500 188,700 'i,'66i,'524' 5,273,658 70-, 000 48,000 1,736,100 464,036 188,700 146,500 738,962 788,797 311,267 984,447 730,902 775, 797 266,890 1,207,046 733,420 773,647 223,980 1,062,621 750,136 763,347 213,484 1,016,188 757,659 696,346 204,343 1,011,125 738,706 613,697 189,678 1,088,242 'Not reported. 2 Not reported prior to 1902. 1,441,853 188,700 'i,'253,'i53' 5,502,312 68,000 48,000 1,850,525 432, 115 188,700 146,500 698,618 568,597 182,927 1,318,330 NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OP STATES: 1893 TO ] 913— Continued. New Jkrsey: October 31, 1893, to October 31, 1912- new jersey. 147 AMOUNT OTJTSTANDraG— continued. Oct. 31, 1900. Oct. 31, 1901. Oct. 31, 1902. Oct. 31, 1903. Oct. 31, 1904. Oct. 31, 1905. Oct. 31, 1906. Oct. 31, 1907. Oct. 31, 1908. Oct. 31, 1909. Oct. 31, 1910. Oct. 31, 1911. Oct. 31, 1912. $119,000 $119,000 $782,763 $772,748 $661,030 $775,469 $765,457 $749,032 $709,416 $721,912 $660,126 $664,149 $642,069 1 119,000 119,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 2 3 71,000 48,000 71,000 48,000 4 116,000 2 866,753 116,000 656,748 116,000 545,030 116,000 659,469 116,000 649,457 116,000 633,032 116,000 693,415 116,000 605,912 116,000 634,126 116,000 538, 149 116,000 626,069 ft 666,763 666,748 646,030 669,469 649,467 633,032 593,415 606,912 534,126 538, 149 526,069 7 Productive Funds op New Jersey: October 31, 1893, to October 31, 1912. CASH AND SECuniTiES ON HAND— Continued. 1 Oct. 31, 1900. Oct. 31, 1901. Oct. 31, 1902. Oct. 31, 1903. Oct. 31, 1904. Oct. 31, 1906. Oct. 31, 1906. Oct. 31, 1907. Oct. 31, 1908. Oct. 31, 1909. Oct. 31, 1910. Oct. 31, 1911. Oct. 31, 1912. $6,286,830 $6,742,538 $7,863,704 $8,240,335 $8,155,889 $8, 284, 772 $7, 644, 279 $7,096,216 $8,806,690 $10,782,741 $12,311,106 $10,254,541 $13,957,168 1 207,196 198, 982 172,550 ? 4,000 112,283 1 100,984 3,000 92,488 2,610 3,887,188 91,783 1,000 77,974 1,793 3,974,983 4 ►i 88,102 2,811 3, 769, 712 ft 7 4,327,260 4,365,240 4,462,205 4,629,615 4,760,280 4,850,603 4,996,452 5,321,508 6,516,989 5,692,203 8 9 1,874,950 518, 745 146,600 390,264 687,224 73,000 79,029 116,000 1,857,876 642,845 146,500 384,887 690,244 51,000 113,837 116,000 1,940,800 639,185 146,600 384, 837 697,370 31,000 135,291 116,000 2,135,760 676,575 146,500 464,687 755,646 102,804 45,278 116,000 2,174,685 732, 165 146,500 440,837 717,890 97,804 66,359 116,000 2,251,110 788,605 146,500 417,225 620, 198 96,604 241,963 116,000 2,394,535 998,955 146,600 362,575 467,088 57,396 102,566 116,000 2,377,960 1,169,646 146,500 323,242 628,666 61,231 163,046 116,000 3,726,680 146,500 308,776 550,698 41,341 76,708 116,000 3,910,965 3,942,480 4,451,040 4,797,930 10 11 146,500 283,626 552,482 40,841 62,048 116,000 146,666 280,793 469,517 19,438 472,780 116,000 146,600 274,049 436,287 19,438 189,676 116,000 146,600 244,966 359,449 19,438 23,920 116,000 12 13 14 15 16 17 68,000 48,000 68,000 48,000 18 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 116,000 19 •'0 2 666,753 666, 748 546,030 669,469 649, 467 633,032 693,415 605,912 534, 126 538,149 526,069 ■>! 666, 753 2,933,418 666,748 3,140,337 545,030 3,129,619 669,469 3,047,098 649,467 2,349,207 633,032 1,596,904 693,415 3,246,672 605,912 6,064,377 634, 126 6,339,472 638,149 4,083,403 526,069 7,722,896 ?? 2,193,922 2,540,383 23 188,700 188,700 188,700 188,700 188,700 188,700 188,700 188,700 188, 700 188,700 188,700 188,700 188,700 24 2,006,222 6,286,830 2,351,683 6,742,553 2,744,718 7,863,704 2,951,637 8,240,336 2,940,919 8,165,889 2, 858, 398 8,284,772 2,160,607 7,644,279 1,408,204 7,096,216 3,057,972 8,806,690 4,876,677 10,782,741 6, 150, 772 12,311,106 3,894,703 10,254,541 7,534,196 13,957,168 26 27 68,000 48,000 1,874,960 522,745 188,700 146,600 68,000 48,000 1,857,875 642,845 188,700 146,600 3,000 690,244 486,871 143,488 2,468,030 28 116,000 1,940,800 639,186 188, 700 146,500 1,000 697,370 476,620 108,974 3,648,565 116,000 2,135,760 676, 575 188,700 146,600 116,000 2,174,686 732,166 188, 700 146,500 116,000 2,251,110 788,605 188, 700 146,500 116,000 2,394,635 998,966 188,700 146, 500 116,000 2,377,960 1, 169, 646 188,700 146,600 116,000 3,726,580 188, 700 146,600 116,000 3,910,955 116,000 3,942,480 116,000 4,451,040 116,000 4,797,930 29 30 31 188,700 146,500 188,700 146,500 188, 700 146,600 iis, 700 146,600 32 33 34 687, 224 502,647 161,102 2,087,062 755,646 464,687 102,804 3,653,663 717,890 440,837 97,804 3,641,308 520,198 417,225 96,604 3,769,830 467,088 362,675 67,396 2,912,630 528,656 323,242 51,231 2,194,282 550,698 308,776 41,341 3,728,095 652,482 283,626 40,841 6,643,637 469,617 280,793 19, 438 7,157,678 436,287 274,049 19, 438 4,622,527 369, 449 244,966 19,438 8,084,186 35 36 37 38 sfncluded in " municipal, county, and township bonds," after 1907. 148 WEALTH, DEBT, AND TAXATION. Table I,— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of NEW MEXICO. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANBING — Mar. 2, 1893.1 Dec. 1, 1894. Mar. 2, 1895.1 Feb. 29, 1896. Feb. 27, 1897.1 Mar. 5, 1898. Dec. 2, 1899.1 1 Total $929,851 J964,351 $1,068,431 Funded debt 2 927,700 959,800 1,066,800 Bonds: Capitol building 1884 1884 1887 1887-88 1889 1891 1893 1893 1894-95 1895 1895 1897 1897 1899 1899 1903 1907 1907 1907 1907 1907 1907 1907 1908 1910 1909 1912 1904-05 1894-95 1902 1907-08 1918 1921 1923 1923 1924 1925 1925 1925 1925 1929 1904 1933 1933 1921 1921 1934 1937 1937 1937 1938 1939 1914 1917 7 7 6 6 6 6 5 6 6 5 6 5 5 4 6 4 5 5 6 4 4 4 4 4 4 6 6 3 200,000 37,000 50,000 150,000 200,000 25,000 95,700 99,000 71,000 200,000 200,000 4 Penitentiary building S Furnishing Capitol building (capitol contingent). Current expense 50,000 150,000 200,000 25,000 101,800 102,000 81,000 35,000 15,000 50,000 150,000 200,000 25,000 101,800 104,000 81,000 35,000 15,000 30,000 75,000 6 7 Current expense (provisional indebtedness) Insane asylum 8 9 Casual deficit in Refimding 11 Penitentiary refunding 12 Territorial institutions 13 New Mexico Military Institute 14 TTiflaT^e asylum IS Capitol rebuilding Ifi Capitol rebuilding (second series) 17 Current expense (certificates of Indebtedness, series A). General refunding IS 1<) Agricultural college ?<) Military institute ?I w. Armory building ?3 ?4 •>!, Capitol improvement...- ?fi ?7 ?S Certificates of indebtedness. . . W Certificates of Indebtedness in Floating debt 2, 151 4,551 1,631 31 2,151 4,651 1,631 B — Detailed Exhibit op General Treasury Cash and the Assets or FUND AND CHARACTER OF INTESTMENT. CASH AND SECURITIES ON HAND — Mar. 2, 1893.1 Dec. 1, 1894. Mar. 2, 1895. Feb. 29, 1896. Feb. 27, 1897. Mar. 6, 1898. Dec. 2, 1899. 1 $162,537 $158,846 $109,167 $77,849 $163,781 $139,387 Sinkine fund •) 4,120 79 79 /\ Cash 4,120 1.58,417 158,846 109, 157 77,849 163,781 139,308 158,417 162,537 168,846 158, 846 109, 157 109,157 77,849 77,849 163,781 163,781 139,308 139,387 79 139,308 162,537 168,846 109, 157 77,849 163,781 1 Not reported. , NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. New Mexico: March 2, 1893, to NovembiSr 30, 1912. new mexico. 149 AMOUNT OUTSTANDING — continued. Dec. 1, 1300. Doc.l, 1901.1 Nov. 30, 1902. Nov. 30, 1903.1 Nov. 30, 1904. Nov. 30, 1905.1 Nov. 30, 1900. Nov. 30, 1907.1 Nov. 30, 1908. Nov. 30, 1909.1 Nov. 30, 1910.1 Nov. 30, 1911. Nov. 30, 1912. $1,205,100 $1,122,200 $949,300 $843,000 $1,023,000 $991,754 $1,236,632 1 1,205,100 1,122,200 949,300 843,000 1,023,000 966,500 1,148,000 ? 200,000 196,000 96,000 3 4 30,000 150,000 200,000 23,000 101,800 104,000 81,000 35,000 15,000 30,000 75,000 60,000 98,300 S 150,000 200,000 25,000 101,800 104,000 81,000 35,000 15,000 30,000 75,000 60,000 49,400 150,000 177,000 25,000 300 104,000 81,000 35,000 15,000 30,000 75,000 60,000 140,000 177,000 25,000 20,000 172,000 25,000 fi 7 25,000 25,000 R fl 104,000 81,000 35,000 16,000 30,000 76,000 60,000 104,000 81,000 35,000 15,000 30,000 75,000 60,000 104,000 81,000 104,000 81,000 in 11 T> n 30,000 76,000 60,000 30,000 75,000 60,000 \^ i") 16 17 101,000 101,000 101,000 26,000 25,000 25,000 15,000 125,000 25,000 26,000 40,000 101,000 26,000 25,000 25,000 15,000 125,000 26,000 25,000 40,000 128,000 67,500 101,000 26,000 26,000 25,000 15,000 125,000 25,000 25,000 40,000 128,000 39,000 200,000 88,632 IS 19 ''0 'I r" 73 '4 9,5 ?R ?7 ?* ?<> 25,254 tn 25,254 88,632 31 Prodtjcxcvb Funds of New Mexico: March 2, 1893, to November 30, 1912. CASH AND SECURITIES ON HAND — Continued. Dec. 1, 1900. Dec. 1, 1901. Nov. 30, 1902. Nov. 30, 1903.1 Nov. 30, 1904. Nov. 30, 1905.1 Nov. 30, 1906. Nov. 30, 1907.1 Nov. 30, 1908. Nov. 30, 1909. Kov. 30, 1910. Nov. 30, 1911. Nov. 30, 1912. $109,974 $218,954 $248,450 $249,148 $360,001 $427,239 $481,621 $609,599 $668, 199 $655,376 1 8,344 127,572 123,277 112,872 105,410 61,974 54,946 10, 189 13, 733 18,423 7 7,989 355 101,630 4,171 123,401 91,382 t 123,277 125, 173 112,872 136,276 105,410 254,591 61,974 365,265 64,946 426,575 10,189 699,410 13,735 564,464 18,423 636,953 4 >i 101,630 109,974 91,382 218,954 126,173 248,460 136,276 249, 148 254,591 360,001 365,265 427,239 426,576 481,521 699,410 609,599 664,464 668,199 636,953 655,376 K 7 7,989 101,985 4,171 214,783 R 248,460 249, 148 360,001 427,239 481,521 609,599 568, 199 655,376 150 WEALTH, DEBT, AND TAXATION? Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of NEW YORK. . CHARACTER AND PURPOSE OF ISSUE, Year of issue. Year of maturity. Eate of in- terest. AMOUNT OUTSTANDING— Sept. 30, 1893. Sept. 30, 1894. Sept. 30, 1896. Sept. 30, 1896. Sept. 30, 1897. Sept. 30, 1898. Sept. 30, 1899. 1 Total $123,365 8123,355 $811,931 $811,931 $6,576,931 $10,151,931 $10,996,931 ■PiiTi(iflr1 d^bt ?, 123,355 123,355 811,931 811,931 6,576,931 10,161,931 10,996,931 Bonds: (') 1896 1897 1897 1898 1898 1899 1905 1906 1907 1908 1909 1910 1911 1912 1912 1912 1907 1908 1909 1910 1911 1912 1911 1912 (') 1895 (1898- \ \ 1906/ 1906 1912 1913 1907-08 1902-05 1923 1956 1957 1958 1959 1960 1961 1961 1962 1942 1956 1958 1958 1960 1961 1962 1961 1913-22 Perpetual. (') Ceased. 3 3 3 3 3 3.5 3 3 3 3 3 4 4 4 4 4 3 4 4 4 4 4 4 4 6 5 R 660 660 660 660 660 495,000 1,270,000 4,000,000 660 440,000 1,270,000 4,000,000 3,230,000 400,000 660 385,000 1,270,000 4,000,000 3,230,000 400,000' 900,000 4 Adirondack Park 5 fiaTinls A 7 rif^nals H n National Guard and public defense Tn 11 OftTl^ls n IS 14 r.rnials 15 16 r.ftTials . 17 r.anals ' 18 CaTiftls 19 ?a ?i w. 5« Highway iTnprnvRTnpTit , , . ?A VR TTiphway improvflTnimt. ?fi PaSsades Interstate Park ?,7 Saratoga Springs State Reservation Special debt obligations to Indian tribes Special debt obligations to public trust funds: Cnllf'g*^ Ift"d ■'"'rip fpTi" 28 122,695 122, 695 122, 695 688,576 122,695 688,676 122,695 688,576 122,695 688,676 122,695 688,576 sn Floating debt St 3S ' Not reported. NATIONAL AND STATE INDEBTEDNESS. 151 AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. New York: Sbptbmbbb 30, 1893, to September 30, 1913. NEW YORK. AMOUNT OUTSTANDING — continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1905. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $10,941,931 $10,886,081 $10,730,236 510,475,236 $10,233,483 $11,978,483 $11,453,483 $18,113,483 $27,053,483 $42,053,483 $.W,632,167 $81,495,019 $111,457,332 1 10,941,931 10,886,931 10,609,236 10,354,236 10,099,236 11,844,236 11,319,236 17,119,236 26,919,236 41,919,236 67,919,236 80,419,236 110,391,236 2 660 330,800 1,270,000 4,000,000 3, 230, 000 400,000 900,000 660 275,000 1,270,000 4, 000, 000 3,230,000 400, 000 900,000 660 220,000 1,270,000 4,000,000 3,230,000 400,000 800, 000 660 165.000 1,270,000 4,000,000 3,230,000 400,000 600,000 860 110,000 1,270,000 4,000,000 3,230,000 400,000 400,000 660 55,000 1,270,000 4,000,000 3,230,000 400,000 200,000 2,000,000 660 660 660 660 660 660 660 3 4 5 4,000,000 3,230,000 400,000 4,000,000 3,230,000 200,000 4,000,000 3,230,000 4,000,000 3,230,000 4,000,000 3,230,000 4,000,000 3,230,000 6 3,230,000 7 8 9 2,000,000 1,000,000 2,000,000 1,000,000 6,000,000 2,000,000 1,000,000 5,000,000 6,000,000 2,000,000 1,000,000 5,000,000 5,000,000 10,000,000 2,000,000 1,000,000 6,000,000 5,000,000 10,000,000 11,000,000 2,000,000 1,000,000 5,000,000 5,000,000 10,000,000 11,000,000 10,000,000 2,000,000 1,000,000 5,000,000 5,000,000 10,000,000 11,000,000 10,000,000 10,000,000 12,000,000 3,407,000 1,000,000 5,000,000 5,000,000 6,000,000 10,000,000 8,000,000 2,500,000 565,000 in :::::::::::: ;■ ■; 11 1? 13 14 15 ! 16 17 IS 19 1,000,000 1, 000, 000 5,000,000 1,000,000 6,000,000 5,000,000 1,000,000 6,000,000 6,000,000 6,000,000 1,000,000 5,000,000 5,000,000 6,000,000 10,000,000 m ?i M ?R ?4 ?5 2,500,000 M 27 122,695 688,576 122, 695 688,576 ?S 688,576 121,000 688,576 121,000 688,576 134,247 688,576 134,247 688,576 134,247 688,576 994,247 688,576 134,247 688,576 134,247 688,576 612,931 688,676 1,075,783 688,576 1,066,096 29 30 121,000 121,000 134, 247 134, 247 134,247 134, 247 860, 000 134,247 134,247 612, 931 1, 075, 783 1,066,096 31 3? 152 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, B — Detailed Exhibit op General Treasxtry Cash and the Assets of NEW YORK— Continued. FUND AND CHARACTER OP INVESTMENT. CASH AND SECURITIES DN HAND— Sept. 30, 1893. Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1896. Sept. 30, 1897. Sept. 30, 1898. Sept. 30, 1899. 1 Total $10,320,180 $11,213,825 S9, 866, 708 $14,138,692 $16,209,966 813,321,213 $14,128,203 Sinking fund 2 60,272 61,597 20,878 41,896 116,211 1697,979 1904,512 Securities 3 647,000 150,979 4,498,141 893,750 10,762 4,523,141 4 Casli 60,272 4,373,141 61,597 4,398,141 20,878 4,423,141 41,896 4,448,141 116,211 4,473,141 5 Common school fund Canal improvement loan 6 500,000 127,000 7 District of Columbia bonds 150,000 283,000 3,288,000 50,000 110,963 491, 178 284,201 S 277,000 3,658,610 50,000 104,446 308,085 284,201 271,000 3,334,110 60,000 101,772 666,269 284,201 266,000 3,442,110 50,000 156, 960 36,071 284,201 204,000 3,762,710 50,000 98, 663 230,868 284,201 i23,666 4,066,260 50.000 95,857 164,024 284,201 676,910 3,636,650 50,000 86, 193 74,388 284,201 9 Municipal and school district bonds. 10 11 12 . Cash 13 District of Columbia bonds 14 25,000 151, 000 4,000 104,201 474,409 25,000 251,000 4,000 4,201 474,409 15 Municipal bonds , . 275,000 4,000 5,201 688,576 275,000 4,000 5,201 688,676 275,000 4,000 6,201 688,576 275,000 4,000 6,201 688,676 274,500 4,000 5,701 688,576 16 17 Cash 18 19 688,676 688,576 688,676 688,576 688,576 20 United States bonds 211,800 85,000 53,000 37,000 87,609 4,014,521 211,800 85,000 103,000 61,000 13,609 4,014,521 21 22 County bonds 23 Municipal and school district bonds 24 Cash ?.5 United States deposit fund 4,014,621 4,014,521 4,014 521 4,014,621 4,014,521 New York bonds 26 27 Canal improvement loan 128,000 125,000 28 District of Columbia bonds 137, 300 30,000 1,304,680 1,639,558 903,083 39,121 29 County bonds 26,000 1,808,580 1,416,408 764,633 39,121 20,000 1,922,080 1,384,491 687,950 39,121 15,000 2,473,280 1,349,408 61,833 39,121 10,000 2,426,630 1,314,226 138,665 39, 121 5,000 2,710,630 1,283,396, 15,496 39,121 30 2,408,780 1,449,920 155,821 39,121 31 3? Cash 33 Militi^ry rpi^nrd fnnd , Municipal bonds 34 39,000 121 10,000 39,000 121 10,000 39,000 121 10,000 39,000 121 10,000 39,000 121 10,000 38, 700 421 10,000 28,250 10,871 10,000 35 Cash 36 Ms^rinprs' fnTirf , , , . "Rpnl f^stsiiip. TTinrtgagp.'! 37 10,000 10,000 10,000 10,000 10,000 10,000 10,000 38 ■William VorcB fund Municipal hnnds 39 40 Cash 41 Canaseraga Creek improvement fimd Cash 42 43 Retirement fund for stAte hospital employppfl. Cash 44 45 Cash 46 47 Cash 48 40 1,064,515 1,931,835 386,270 4,612,236 6,584,195 3,088,674 3, 664, 131 Cash 50 1,064,615 10,320,180 1,931,835 11,213,825 386, 270 9,866,708 4,612,236 14,138,692 6,584,195 16,209,966 3,088,674 13,321,213 3,664,131 14,128,203 51 Total 52 New York bonds 53 Special debt obligations to public trust funds 688,676 688,576 688, 576 688,676 688,576 54 United States bonds 211,800 211, 800 55 Securities belonging to sinking fund 56 625,000 262,000 57 District of Columbia bonds 397,300 366,000 110,000 405,000 58 291,000 280,000 214,000 128,000 547,000 313, 700 6,775,890 60,000 4,000 1,389,253 3, 424, 794 676,910 779,750 416, 750 6,044,430 50,000 4,000 1,546,113 3,921,674 59 County and municipal bonds 6(1 190,000 4,629,580 50,000 4,000 1,760,521 2,710,979 290,000 5,628,190 50,000 4,000 1, 530, 854 3,083,981 314, 000 6,250,190 50,000 4,000 1,496,263 1,766,679 314,000 5,915,390 50,000 4,000 1,515,368 4,746,358 314,000 6,189,340 50,000 4,000 1,422,789 7,075,261 61 Municipal and school district bonds 6'' 63 Insurance company stock 64 65 Cash 1 The securities for the sinking fund for the years 1898 to 1901, inclusive, are shown only in the detail with " county and municipal bonds " and "municipal bonds.' NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Productive Funds of New York: September 30, 1893, to September 30, 1912. NEW YORK— Continued. 15a CASH AND SECURITIES ON HAND— continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1906. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept, 30, 1911. Sept. 30, 1912. $17,331,383 121,709,331 $21,818,463 $22,644,152 $22,343,551 $22,474,853 $28,642,067 $39,126,933 $45,758,669 $47,824,385 $52,701,089 $51,843,383 $66,414,958 1 '1,376,758 11,866,527 2,646,116 3,074,566 3,696,494 4,607,458 4,403,650 9,573,056 16,500,494 22,066,270 24,168,491 26,867,372 25,252,085 2 1, 276, 056 100,702 4,648,141 } 1,860,527| 4,573,141 2,009,514 535,602 4,598,141 2,941,809 132,757 4,623,141 3,187,146 509,348 4, 648, 141 2,739,949 1,867,609 4,673,141 3,609,470 834,080 4,698,141 8,575,964 997,092 4,723,141 5,084,965 10,416,629 4,748,141 18,778,661 3,277,609 4, 773, 141 20,620,069 3,638,422 4,798,141 21,717,212 5,150,160 4,823,141 21,188,716 4,063,369 4,848,141 3 4 5 fi 7 670,910 3,644,360 50,000 84,116 98,766 284,201 664,910 3,768,050 60,000 82,429 7,762 284,201 664,910 3,762,750 50,000 82,079 68,402 284,201 654,910 3,717,950 60,000 80,976 119,305 284,201 654,910 3,682,560 50,000 79, 758 180,923 284,201 654,910 3,609,150 .50,000 79,352 279, 729 284,201 654,910 3,824,100 60,000 78,206 90,926 284,201 644,910 3,923,550 60,000 76,686 27,995 284,201 644,910 3,522,700 50,000 76,191 454,340 284,201 644,910 3,867,716 50,000 76,029 134,487 284,201 704,910 3,809,060 50,000 74,910 159,271 284,201 704,910 3,867,400 50,000 74,530 126,301 284,201 694,910 3,725,261 50,000 73,140 304,840 284,201 8 9 10 11 12 13 14 276,000 4,000 4,201 688,576 271,500 4,000 8,701 688,576 277,000 4,000 3,201 688,576 272,500 4,000 7,701 688,576 268,000 4,000 12,201 688,576 263,500 4,000 16,701 688,576 231,000 4,000 49,201 688,576 276,500 4,000 3,701 688,676 162,000 4,000 118,201 688,676 136,500 4,000 143,701 688,576 238,500 4,000 41,701 688,576 277,500 5,000 1,701 688,576 271,000 6,000 8,201 688,576 15 16 17 18 688,576 688,676 688,576 688,576 688,576 688,576 688,676 688,676 688,676 688,570 688,570 688,576 688,576 19 ''O 'l . •)■> . '4 4,014,521 4,014,621 4,014,521 4,014,521 4,014,621 4,014,621 4,014,621 4,014,521 4,014,621 4,014,521 4,014,521 4,014,621 4,014,521 25 34,000 'fi 07 OS 9(» 2,390,280 1,606,943 117,298 39,121 2,366,780 1,549,720 98,021 39,121 2, 338, 640 1,508,240 107, 641 39, 121 2,304,060 1,577,892 132,669 39, 121 2,269,880 1,447,288 297,353 39,121 2,237,200 1,441,254 336,067 39,121 2,154,120 1,434,553 425,848 39, 121 2,471,040 1,495,688 47,893 39, 121 2,072,961 1,486,4.33 422,127 39, 121 2,003,381 1,466,378 544,762 39,121 2,402,720 1,318,300 293,501 39,121 2,735,640 1,177,267 101,624 39,121 2,466,068 1,028,145 620,318 39,121 30 31 32 33 34,800 4,3il 10,000 33,360 6,771 10,000 31,900 7,221 10,000 37,850 1,271 m 36,400 2,721 15,700 23,421 16,000 24, 121 14,300 24,821 13,600 25,521 12,900 26,221 37,20a 1,921 36,500 2,621 35,800 3,321 34 35 36 10,000 10,000 10,000 121,000 37 121,000 134,247 134,247 134,247 134,247 134,247 134,247 134,247 134,247 134,247 SR 113,600 7,600 120,000 1,000 116,500 17, 747 113.000 21,247 130,303 3,944 125,303 8,944 121,303 12,944 117, 803 16,444 126,303 8,944 208,093 92,303 41,944 189,219 99,803 34,444 145,267 39 <0 41 ■ 208,093 189,219 145,267 25,910 4? 43 25,910 287,993 44 259,291 45 259, 291 493,026 287,993 472,679 4(> 270,591 '7 270,591 18,106,707 493,026 14,050,668 472,679 30, 222, 217 •'8 6,370.065 10,217,947 9,517,787 9,799,026 8,838,250 8,033,688 14,379,710 19,670,070 20,349,368 16,834,308 id 6,370,065 17,331,383 10,217,947 21,709,331 9,617,787 21, 818, 463 9,799,026 22,644,162 8,838,250 22,343,661 8,033,588 22,474,853 14,379,710 28, 642, 067 19,670,070 39,126,933 20,349,358 46,758,659 15,834,308 47,824,385 18,105,707 52,701,689 14,050,668 51,843,383 30,222,217 66,414,958 60 51 34,000 688,670 5? 688,576 688,576 688,576 688,676 688,576 088,576 688,576 688, 576 688,576 688,576 688,576 688,576 53 54 2,009,514 2, 94i, 809 3,187,146 2,739,949 3,509,470 8,676,964 5,084,965 18,778,661 20,620,069 21,717,212 21,188,716 55 5fi 57 670,910 1,036,970 549,886 6,034,630 50,000 4,000 1,601,059 6,695,352 664,910 1,630,092 656,582 6, 134, 830 60, 000 4,000 1,642,149 10, 338, 192 654,910 654, 910 654,910 654, 910 054,910 044,910 644, 910 644,910 704, 910 704,910 694,910 68 65 422, 400 6,091,390 50, 000 4,000 1,660,319 10, 237, 354 430, 350 6,022,010 60, 000 4,000 1,658,868 10,193,629 420,900 5, 952, 430 50,000 4,000 1,527,046 9,858,543 392, 200 5,846,360 50, 000 4,000 1,520,606 10,678,262 376, 303 5,978,220 60, 000 4,000 1,512,7.58 16,807,830 416, 103 6,394,590 60,000 4,000 1,572,274 20,780,510 296, 903 5,695,061 50, 000 4,000 1,561,624 31,798,020 267, 203 6,871,096 50, 000 4,000 1,542,407 19,977,532 401, 003 6,211,770 50,000 4,000 1.393,210 22,628,151 406,303 6,603,040 60,000 5,000 1,251,787 20,416,656 406,603 6,191,309 60,000 6,000 1,101,286 36,088,569 60 61 62 63 64 66 2 Not reported after 1902. a Detail not reported separately, except for those years shown. 154 W^EAITH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENEKAL TREASURY CASH, A — ^Detailed Exhibit of the Indebtedness op NORTH CAROLINA^. chaejICteb and purpose of issue. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING— Nov. 30, 1893.1 Nov. 30, 1894. Nov. 30, 1895.1 Nov. 30, 1896. Nov. 30, 1897. Nov. 30, 1898. Nov. 30, 1899. 1 Total S6, 381, 126 S6, 361,630 S6, 366, 381 $6,400,041 $6,665,774 Funded debt 2 6,371,770 6,360,770 6,360,770 6,360,770 6,631,770 Bonds: ■Rp.fnTiding.. . 1866-68 /Prior to\ \ 1860 / 1S79 1879 1899 1899 1903 1905 1909 1909 1911 1911 « O 1910 1919 1909 1909 1913 1913 1949 1950 1961 1951 Ceased. Ceased. 4 6 4 4 4 4 4 4 4 4 a 292,970 36,000 3,322,800 2, 720, 000 255,070 26,000 3,360,700 2,720,000 255,070 25,000 3, 360, 700 2,720,000 256,070 25,000 3,360,700 2, 720, 000 235,120 26,000 3,380,650 2,720,000 110,000 60,000 4 Railroad subsidy 5 Refunding 6 RefuTidiTig 7 State prison debt 8 State prison farm 9 State debt 10 State debt 11 State hospital (insane) 12 State bonds (redemption) 13 School for feeble-minded 14 State bnilrting 15 Floating debt 9,356 860 5,611 39,271 34,004 16 9,356 860 5,611 39,271 34,004 17 Temporary loans 1 B — Detailed Exhibit of General Treasury Cash and, the Assets of FUND AND CHARACTER OF INVESTMENT. CASH ANE SECURITIES ON HAND — Nov. 30, 1893. Nov. 30, 1894. Nov. 30, 1895. Nov. 30, 1896. Nov. 30, 1897. Nov. 30, 1898. Nov, 30, 1899. T Total $4,798,740 $4,870,878 $4,684,112 $4,678,711 $4,653,856 $4,769,300 $4,696,607 School fund ? 143,250 145, 250 145,250 145,250 146,250 146,250 146, 250 a 143,250 145,250 145,250 146,260 145,260 145,250 145,250 4 Loan to state s TiOans for hnilding srhonlhnnsfit: " A flATiftrfll iiTid spe^i«I fuTi'ls... 4,655,490 4,726,628 4,538,862 4,633,461 4,508,606 4,624,050 4,551,257 7 136,760 11,750 4,266,800 240, 190 4,798,740 136,760 10,750 4,266,800 311,328 4,870,878 136,750 9,750 4,266,800 125,562 4,684,112 136, 250 7,000 4,266,800 123,411 4,678,711 136,250 6,000 4,266,800 99,566 4,663,856 136,260 5,000 4,266,800 216,000 4,769,300 136,250 4,000 4,266,800 144,207 4,696,507 8 County bonds 9 Railroad stock.. in Cash 11 Total North Carolina 1' 280,000 11,750 4,266,800 282,000 10, 750 4,266,800 282,000 9,750 4,266,800 281,500 7,000 4,266,800 281,500 6,000 4,266,800 281,500 5,000 4,266,800 281,500 4,000 4,266,800 11 14 Railroad stock , 15 Loans 16 Cash 240, 190 311,328 125,662 123,411 99,666 216,000 144,207 ^ Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. North Carolina: November 30, 1893, to November 30, 1912. north cakolina. 155 AMOUNT OUTSTANDING— continued. Nov. 30, 1900. Nov. 30, 1901. Nov. 30, 1902. Nov. 30, 1903. Nov. 30, 1904. Nov. 30, 1905. Nov. 30, 1906. Nov. 30, 1907.1 Nov. 30, 1908. Nov. 30, 1909.1 Nov. 30, 1910. Nov. 30, 1911.1 Nov. 30, 1912. S6, 660, 341 16,654,773 $6,554,928 J6, 942, 185 $6,941,226 $6,954,875 $6,884,798 $6,934,809 $7,383,283 $8,058,430 1 6,527,770 6, 527, 770 6,527,770 6,831,470 6,831,570 6,871,450 6,873,450 6,886,000 7,239,550 7,632,960 9. 218,420 22,000 3,397,350 2,720,000 110,000 60,000 218,420 22,000 3,397,350 2,720,000 110,000 60,000 216,620 22,000 3, 399, 150 2,720,000 110,000 60,000 210,520 22,000 3,408,950 2,720,000 110,000 60,000 300,000 210, 120 22,000 3,409.450 2,720,000 110,000 60,000 300,000 3 22,000 3,409,450 2,720,000 110,000 60,000 300,000 250,000 22,000 3, 411, 450 2,720,000 110,000 60,000 300,000 250,000 19,000 3,427,000 2,720,000 110,000 60,000 300,000 260,000 19,000 20,560 2,720,000 19,000 3,950 2,720,000 4 5 6 7 8 300,000 250,000 500,000 3,430,000 366,666 250,000 500,000 3, 430, 000 60,000 250,000 525,480 » 10 11 n 13 14 32,671 27, 003 27, 158 110,715 109,655 83,425 11,348 48,809 143,733 15 32,571 27,003 27, 158 10, 715 100,000 9,655 100,000 8,425 76,000 11,348 48,809 143,733 225,480 300,000 Ifi 17 1 1 1 Productive Funds of North Carolina: November 30, 1893, to November 30, 1912. CASH AND SECURITIES ON HAND — Continued. Nov. 30, 1900. Nov. 30, 1901. Nov. 30, 1902. Nov. 30, 1903.1 Nov. 30, 1904. Nov. 30, 1905.1 Nov. 30, 1906. Nov. 30, 1907.1 Nov. 30, 1908. Nov. 30, 1909.1 Nov. 30, 1910. Nov. 30, 1911.1 Nov. 30, 1912. $4,539,610 $4,468,837 $4,526,080 $4,840,347 $4,889,940 $5,145,377 $4,624,958 $4,979,115 1 145,250 145,250 145,250 216,046 217,184 315, 165 347,619 421, 459 "> 145,250 146,260 146,250 2,500 100,000 113,546 4,624,302 3 4 217, 184 4, 672, 766 316, 165 4,830,212 347, 619 4,277,339 421,459 4,557,656 5 4,394,360 4,323,587 4,380,830 6 7 3,000 4,266,800 124,560 4,539,610 3,000 4,266,800 53,787 4,468,837 2,760 4,266,800 111,280 4,526,080 750 4,266,800 356, 752 4,840,347 8 4,266,800 405,956 4,889,940 4,266,800 563, 412 5,145,377 4,266,800 10,539 4,624,958 4,266,800 290,856 4, 979, 115 q 10 11 145,250 3,000 4,266,800 145,250 3,000 4,266,800 146,260 2,750 4,266,800 2,500 750 4,266,800 213,645 366,752 ( 1? 1 ^^^ 4,266,800 217,184 405,956 4,266,800 315, 165 563, 412 4,266,800 347,619 10,539 4,266,800 421,459 290,866 14 15 124,660 63,787 111,280 16 156 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op NOBTH DAKOTA. CHARACTER AND PURPOSE OF laSTJE. Year of issue. Year of ma- turity. Bate of in- terest. AMOTINT OUTSTANDraC — Oct. 31, 1893.1 June 30, 1894. June 30, 1895.1 June 30, 1896. June 30, 1897.1 June 30, 1898. June 30, 1899.1 1 Total J850,177 8851,025 S845,792 ? Funded debt 782,300 782,300 845,300 Bonds: Penitentiary 1887 1887 1887 1885 1885 1889 1890 1890 1891 1891 1894 1894 1893 1895 1895 1897 1897 1897 1905 1901 1909 1909 1909 1909 1909 1909 1909 1909 1917 1902 1897 1905 1905 1919 1920 1905 1911 1921 1923 1914 1923 1915 1915 192? 1927 1927 1925 1911 1921 1921 1919 1921 1929 1923 1921 1911 4.5 4.5 4 6 6 4.5 3 29,000 153,000 20,000 14,600 24,000 22,700 113,000 160,000 20,000 106,000 30,000 50,000 50,000 29,000 153,000 20,000 4 153,000 fi R Penitentiary 7 R University 22,700 113,000 150,000 20,000 106,000 30,000 50,000 50,000 14, COO 24,000 22,700 113,000 150,000 20,000 106,000 30,000 50,000 50,000 14,600 24,000 63,000 20,000 29,000 A Refunding penitentiary and hospital for the insane bonds. 10 11 Refunding 1? TTnnding tRrriti^ri^l debt . . . IS Refunding university bonds 14 Refunding hospital for the insane bonds Capitol building 15 in Refunding penitentiary bonds 17 1R 1<> ?n Refunding penitentiary bonds ?i ?? ?3 State university and school of mines 74 Agricultural college K Insane hospital, building and improvement. . Reform school, construction and equipment . . 75 ?7 7R Capitol building ?fl Twine and cordage plant, funding and oper- ating. Twine and cordage plant, funding and oper- ating. Floating debt in 11 67,877 68,725 492 1 10 63,507 2,029 2,341 60,896 7,339 490 14 492 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. North Dakota: October 31, 1893, to October 31, 1912. north dakota. 157 AMOUNT ODTSTANDINS— continued. June 30, 1000. June 30, 1901.1 June 30, 1902. Oct. 31, 1903.1 Oct. 31, 1904. Oct. 31, 1905. Oct. 31, 1908. Oct. 31, 1907. Oct. 31, 1908. Oct. 31, 1909. Oct. 31, 1910. Oct. 31, 1911. Oct. 31, 1912. 81,013,313 $969,446 8692,300 $092,300 $692,300 $692,300 $692,300 $1,161,300 $1,151,300 $937,300 $937,300 1 973,893 937,300 692,300 692,300 692,300 692,300 092,300 1,151,300 1,151,300 937, 300 937,300 o s 163,000 30,000 4 ? 0/1 ■"i ""fi • ''7 'S 75,000 75,000 oq 10 32,146 m m C) « (') (■) m 11 lo 5,820 1,100 32.500 22, 146 11 14 10,000 35 1 158 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASUBY CASH, B — Detailed Exhibit of General Treasukt Cash and the Assets op NORTH DAKOTA— Continued. FUND AND CHARACTER OF INVESTMENT. CASH AND SECmHTTES ON HAND — Oct. 31, 1893. June 30, 1894. June 30, 1895. June 30. 1896. June 30, 1897.1 June 30, 1898. June 30, 1899.1 1 Total S472, 179 $633,235 $626,605 $656,762 $933, 895 ? Sinking fitnd - . . . s (f 5 School fund 369,768 465,631 461,916 641,443 797,680 f, 7 2,000 23,000 425,068 2,000 23,000 411,818 10,000 8 ft 368,034 395,684 668, 169 10 11 109,915 T? Cnwnty bnnd Bonds R3 fH 107,347 25,471 64,527 116,257 136,288 107,347 472, 179 26,471 633, 235 64,627 626, 505 115, 267 656. 762 136, 288 933,895 Total 2,000 23, 000 425,068 2,000 23,000 411,818 10,000 ■lO 3.58, 034 396,684 668, 159 109,915 fi^ Cash - . . 114,145 137,551 76,437 219,934 245,821 1 Kot reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Productive Fxtnds of North Dakota: October 31, 1893, to October 31, 1912. NORTH DAKOTA— Continued. 159 CASH AND SECUEITIES ON HAND— Continued . June 30, 1900. June 30, 1901.1 June 30, 1902. Oct. 31, 1903.1 Oct. 31, 1904. Oct. 31, 1906. Oct. 31, 1906. Oct. 31, 1907. Oct. 31, 1908. Oct. 31, 1909. Oct. 31, 1910. Oct. 31, 1911. Oct. 31, 1912. $1,109,449 $1,742,006 $2,578,284 $2,890,699 $3,790,780 $4,243,882 $4,941,319 $6,658,831 $7,679,282 $7,840,335 $8,799,435 1 1 1,116 62, 933 30, 789 61, 793 47,044 58,046 85,263 105,859 88,869 116,876 2 20,000 42,933 2,018,353 ^ 1,116 1,418,629 30,789 2,263,423 51,793 2,790,278 47,044 3,142,611 58,046 3,642,173 85,253 4,820,269 105,859 6,444,905 88,869 6,800,822 116,876 8,088,982 930,436 6 1,784,000 2,024,350 2, 217, 100 2,557,250 2,902,850 3,264,460 4,084,450 4,181,030 6,295,529 6 7 32, 700 42, 700 722,559 70,000 93, 771 799, 400 255,000 72,273 9 10 113,510 107,056 94,751 175,872 665, 713 802,368 1,281,273 1,402,667 1,663,243 \\ 13 11,406 60 249,266 20,824 120,843 65,153 132,018 91,032 478,427 160,555 409,489 162, 480 173,610 203,760 763,441 271, 829 79, 182 316,604 217,226 332, 193 110,210 47,861 14 16 4,000 16,824 9,577 64,400 763 26,196 76,850 14,182 38,405 114,650 35,905 67,109 161,600 880 62,810 202,250 1,610 77,777 261,450 10,379 98,304 305,850 9,764 121,749 330,460 1,743 125,690 ^^7,861 1,360 16 60 17 IS 1,500 8,077 3,976 24,800 1,396 16,070 36,200 2,205 22,377 52, 400 4,709 33, 656 60,200 2,610 37,027 76,900 877 46,038 91,800 6,604 68,448 120,560 1,199 72,682 126,300 390 75, 143 1,360 19 20 21 1,800 2,175 7,936 13,350 1,720 18,394 20,850 1,527 28,196 29,560 4,006 42,962 36,650 377 48,375 45,600 438 59,825 67,000 1,448 77, 112 69,550 3,132 93,793 74,050 1,093 98, 148 (?) 23 3,040 24 700 7,236 9,099 18, 100 294 20,731 27, 100 1,096 29,145 35,800 7,152 43,128 46,800 2,675 49, 113 68,800 1,025 69,742 73,360 3,762 76,004 90,350 3,443 91,453 96,260 1,898 96,869 3,040 814 25 27 900 8,199 8,538 18,400 2,331 19,814 26,900 2,245 26,064 28,200 14,928 42,021 48,700 413 49,611 59,600 142 61,441 72,400 3,604 79,612 89,100 2,363 96,706 96,600 269 101,279 814 6,373 29 30 60 850 7,688 16,322 19,000 814 26,600 464 25,600 16,421 47,000 2,611 60,800 641 78,000 1,612 94,460 1,266 101, 250 29 5,373 31 60 518 .S3 300 16,022 M 618 49,329 64,464 99,349 110,690 137,904 177,366 209, 112 220,913 7,064 36 48, 760 679 17,680 62,960 1,514 27,410 91, 160 8,199 38,703 108,950 1,740 44,987 137, 750 154 56, 650 170,460 6,916 74,931 209,000 112 93,293 219, 460 1,463 96,361 «7,064 476 39 16,400 1,280 10,863 23,860 3,660 15,473 28,150 10,653 19,961 42,950 2,037 22,919 56,650 70,260 4,681 36,040 90,660 2,643 44,689 96, 150 211 44,868 1,400 10 28,651 42 10, 360 613 19,183 14,060 1,423 26,073 11,850 8,111 40,308 22,350 669 46,060 28,500 2,151 67,979 33,000 3,040 75,000 41,300 3,389 94,888 93,800 1,088 68,544 44,300 568 100,898 1,400 746 43 44 46 18,400 783 19,366 23,600 2,573 21,668 25,600 14,808 31,346 46,600 550 38,193 56,650 1,429 46,676 67,600 7,400 57,387 100,500 398 70,167 746 1,520 46 47 48 18,500 866 18,765 21,200 468 28,436 19,400 11,946 45,008 38,000 193 54,491 45,600 175 66,066 55, 400 1,987 83,823 67,400 1,144 102,570 69,500 667 106,321 «1,520 1,971 49 W 61 18,660 115 196,454 28,060 386 177, 745 31, 100 13,908 304, 713 63, 750 741 327, 481 62,950 3,106 339,603 76, 460 7,373 587,563 100,000 2,570 724,435 101,660 4,671 481, 794 V) 1,971 641,963 wy ,w 178,375 246,990 54 178,376 1,109,449 246,990 1,742,006 196,464 2,678,284 177,746 2,890,699 304,713 3,790,780 327,481 4,243,882 339,603 4,941,319 687,663 6,658,831 724, 435 7,679,282 481,794 7,840,335 641,963 8,799,436 n=i 66 2,093,100 2,411,460 2,710,460 3, 268, 700 3,792,700 4,361,600- 5, 466, 450 6, 636, 480 6,296,629 57 32, 700 42,700 68 W 722,569 70,000 93, 771 809, 450 265,000 72,273 60 61 113, 510 107,056 94,751 175,872 565,713 802,368 1,281,273 1,402,567 1,663,243 fi? 63 64 190,419 562,683 371,674 372,194 985,579 799,310 582,906 1,494,863 941,559 801,288 840, 663 6.5 * Investments not reported separately; included in school fund. 160 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENEBAL TBEASUBY CASH, A — Detailed Exhibit of the Indebtedness of OHIO. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Rate of interest. AMOUNT OUTSTANDING— Nov. 15, 1893. Nov. 15, 1894. Nov. 15, 1895. Nov. 15, 1896. Nov. 15, 1897. Nov. 16, 1898. Nov. 15, 1899. 1 Total $6,446,053 $6,709,696 $6,446,785 $6,214,573 $5,978,480 $5,935,690 $5,703,693 2 Funded debt 6,431,626 6,687,359 6,440,274 6,203,136 6,962,255 5,920,381 5,686,201 3 Bonds: 1825 1885 1888 1894 1897 1897 1898 0) 1883 k 1871 1889 0) 1891-99 1900 1896 ,1901 1902 1903 Perpetual. Perpetual. Perpetual. Perpetual. Perpetual. Perpetual. Perpetual. Perpetual. Ceased. 3 3 3 3 3 3 6 6 6 6 6 6 6 6 1,665 1,490,000 300,000 1,665 1,240,000 300,000 500,000 1,665 990,000 300,000 600,000 1,665 740,000 300,000 500,000 1,665 490,000 300,000 1,665 240,000 300,000 1,665 4 fi Refunding 300,000 fi Current expensecertiflcate of indebtedness 7 250,000 250,000 250,000 250,000 200,000 3,383,386 24,772 194,854 120,272 257,499 14,000 648,076 135,857 15,309 250,000 250,000 200,000 3,385,880 24,772 195,340 120,272 257,499 14,039 550,806 135,928 17,492 8 Refunding q War loan in Special debt obligations to public trust funds: School fund 3,367,771 23,915 193,423 120,272 257,499 12,357 545,111 119,613 14,427 3,371,075 23,915 193,423 120,272 257,499 12,480 647,268 119,762 22,337 3,372,447 24,542 193,923 120,272 257,499 12,736 547,305 119,885 6,511 3,383,533 25,714 194,095 120,272 257,499 12,779 547,610 119,969 11,437 3,379,904 24,742 194,371 120,272 257,499 13,026 547,776 133,000 16,225 11 1? Virginia Military School fund 13 14 United States Military School fund Western Reserve School fund 15 Ohio University fund 16 Ohio State University fund 17 Ministprial fiinrl 18 Floating debt 19 14,427 22,337 6,511 11,437 16,225 15,309 17,492 ?n Private trust fund B — Detailed Exhtbit op General Treasury Cash and the Assets of FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES 3N HAND — Nov. 15, 1893. Nov. 15, 1894. Nov. 15, 1896. Nov. 15, 1896. Nov. 15, 1897. Nov. 15, 1898. Nov. 15, 1899. 1 Total . . . $5,258,300 $5,447,960 $5,282,458 $5,186,596 $5,435,089 $5,507,690 $5,881,513 Sinking fund 2 397,790 331,321 265, 177 200,806 149,751 115,603 77,547 3 Cash 397,790 3,367,771 331,321 3,371,075 265, 177 3,372,447 200,806 3,383,533 149,751 3,379,904 115,603 3,383,386 77,547 3,385,880 4 School fund j 5 Special debt obligations to public trust funds 3,367,771 23,915 3,371,075 23,915 3,372,447 24,642 3,383,533 25,714 3,379,904 24,742 3,383,386 24,772 3,385,880 24,772 « Swamp land indemnity fund 7 fipfiPial debt oblignt.inns t/i pnhlin fmst. funds . 23,916 193,423 23,915 193,423 24,642 193,923 25,714 194.095 25,742 194,371 24,772 194,854 24,772 195,340 8 Virginia Military School fund 9 193,423 120,272 193,423 120,272 193,923 120,272 194,095 120,272 194,371 120,272 194,854 120,272 195,340 120,272 10 United States Military School fund 11 Special debt obligations to public Irust funds. 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 267,499 120,272 257,499 12 Western Reserve School fund 11 Special debt obligations to public trust funds. 257,499 12,357 257,499 12,480 257,499 12,736 257,499 12,779 257,499 13,026 267,499 14,000 267,499 14,039 14 Ohio University fund 15 12,357 571,226 12,480 670,488 12,736 568,761 12,779 576, 530 13,026 622,976 14,000 587,375 14,039 697,539 16 Ohio State University fund 17 545,111 26,115 119,613 647,268 23,220 119,762 547,305 21,456 119,885 647, 610 28,920 119,969 647, 776 75,200 133,000 548,076 39,299 136,857 650,806 46,733 136,928 18 Cash 19 Ministerial fund ?0 Special debt obligations 1x) public trust funds ... . . 119,613 119,762 119,885 119,969 133,000 135,867 135,928 21 Benefit unpaid creditors 22 23 Cash To secure claim against trust company 24 Securities 25 General and special funds 194,434 447,725 347,216 295,399 539,548 674,072 1,072,697 26 Cash Total 194,434 5,258,300 447,725 5,447,960 347,216 6,282,458 295,399 5,186,596 539, 548 5,435,089 674,072 5,507,690 1,072,697 5,881,513 Pppcini dpht nhltgfltinns tn pnbb'c tmst fnndR OS 4,639,961 4,645,694 4,648,609 4,661,471 4,670,590 4,678,716 4,684,536 ?9 Securities ?0 Cash 618,339 802,266 633,849 525, 125 764, 499 828,974 1,196,977 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Ohio: November 15, 1893, to November 15, 1912. OHIO. 161 AMOUNT OTTTSTAinDiNQ— continued. Nov. 15, 1900. Nov. 15, 1901. Nov. 15, 1902. Not. 15, 1903. Noy. 16, • 1904. Nov. 15, 1905. Nov. 15, 1906. Nov. 15, 1907. Nov. 15, 1908. Nov. 16, 1909. Nov. 16, 1910. Nov. 15, 1911. Nov. is, 1912. $5,421,451 $5,177,324 $4,939,585 $4,767,918 $4,799 536 $4,924,364 $5,010,514 $6,148,926 $5,165,212 $6,230,667 $5,233,806 $6,250,317 $5,300,430 1 5,399,276 5,167,884 4,931,592 4,749,976 4,770,357 4,903,774 4,993,084 5,120,971 6,162,923 6,195,520 6,208,662 5,229,828 5,256,036 2 1,665 1,665 1,665 1,665 1,665 1,665 1,666 1,665 1,666 1,665 1,665 1,665 1,665 3 4 e « 250,000 250,000 200,000 3,392,695 24,772 196,698 120,272 257,499 14,772 651,664 140,439 22,176 7 260,000 200,000 3,406,335 24,772 196,698 120,272 257,499 16,000 556,588 142,166 9,440 8 200,000 3,413,131 24,772 195,698 120,272 267,499 16,132 659,878 142,645 7,993 9 3,415,033 24,772 195,806 120,272 257,499 20,108 671,314 143,607 17,942 3,417,070 24,772 196,966 120,272 257,499 20,615 688,257 144,241 M,179 3,419,743 25,121 198,268 120,272 267,499 20,973 717,402 144,831 28,680 3,421,747 26,121 196,368 120,272 257,499 21,119 801,494 147,799 17,430 3,502,505 25,121 196,638 120 272 267,499 21,643 847,448 148,180 37,955 3,504,180 26,121 196,717 120,272 257,499 24,080 874,997 148,392 12,289 3,506,057 26,121 196,717 120,272 267,499 24,598 914,743 148,848 35,147 3,606,221 25,121 196,845 120,272 257,499 24,899 927,267 148,873 25,144 3,613,228 25,121 197,068 120,272 267,499 25,665 940,124 149,186 20,489 3,524,528 25,121 197,068 128,272 257,499 26,465 954,766 149,252 43,794 10 11 12 13 14 15 16 17 18 22,175 9,440 7,993 17,943 29,179 20,680 17,43« 27,966 12,289 34,^21 824 24,331 813 19,676 813 17,981 25,813 19 20 Productive Funds of Ohio: November 15, 1893, to November 15, 1912. CASH AND SECUEITIE3 ON HAND — Continued. Nov. 15, 1900. Nov. 15, 1901. Nov. 15, 1902. Nov. 15, 1903. Nov. 15, 1904. Nov. 15, 1905. Nov. 15, 1906. Nov. 15, 1907. Nov. 15, 1908. Nov. 16, 1909. Nov. 16, 1910. Nov. 15, 1911. Nov. 15, 1912. $6,218,622 $6,399,943 $8,302,172 $7,712,8 $7,324,890 $7,889,986 $8,737,452 $10,201,156 $10,364,393 $9,365,559 $8,870,978 $8,997,093 $10,062,111 207,328 204,317 264,669 249,684 357,973 425,554 472,056 404, 168 370,605 251,846 158,388 207,328 3,392,696 204,317 3,405,335 254,669 3,413,131 146,693 3,416,033 249,584 3,417,070 357,973 3,419,743 425,654 3,421,747 472,056 3,502,505 404, 168 3,504,180 370,605 3,506,057 298,666 3,606,221 251,846 3,513,228 158,388 3,624,528 3,392,595 24,772 3,405,335 24,772 3,413,131 24,772 3,415,033 24,772 3,417,070 24,772 3,419,743 25,121 3,421,747 25,121 3,602,605 25,121 3,504,180 25,121 3,506,057 25,121 3,506,221 25,121 3,513,228 25,121 3,524,528 25,121 24,772 195,598 24,772 195,598 24,772 195,598 24,772 195,806 24, 772 196,966 25,121 196,268 25,121 196,368 25,121 196,638 25,121 196,717 25,121 196,717 25,121 196,845 25,121 197,068 25,121 197,068 195,598 120,272 195,698 120,272 195,598 120,272 195,806 120,272 195,966 120,272 196,268 120,272 196,368 120,272 196,638 120,272 196,717 120,272 196,717 130,272 196,846 120,272 197,068 120,272 197,068 120,272 120,272 267,499 120,272 257,499 120,272 Sfe7,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 120,272 257,499 267,499 14,772 267,499 15,000 257,499 16,132 257,499 20,108 257,499 20,615 267,499 20,973 257,499 21, 119 257,499 21,643 257,499 24,080 257,499 24,598 257,499 257,499 25,665 257,499 26,466 14,772 635,885 15,000 16,lo2 726,620 20,108 636,354 20,615 714, 133 20,973 880,172 21,119 985, 780 21,643 1,062,649 24,080 1,048,843 24,698 1,103,675 651,664 84,221 140,439 555,588 114,351 142,155 559,878 166,742 142,645 571,314 65,040 143,507 688,257 125,876 144,241 717,402 162,770 144,831 801,494 184,286 147,799 847,448 206,201 148,180 874,997 173,846 148,392 140,439 142,155 142,645 143,507 144,241 144,831 147,799 148, 180 148,392 914,743 188,932 148,848 24,899 1,121,413 927,267 194,146 148,873 25,665 1,165,881 148,848 824 148,873 813 940,124 225,757 149,186 149,186 813 824 813 813 1,229,362 1,365,056 3,150,934 2,752,824 2,180,738 2, 467, 134 3, 136, 193 4,404,693 4,625,121 1,229,362 6,218,622 4,697,611 1,366,056 6,399,943 4,716,219 3,150,934 8,302,172 4,729,927 2,762,824 7,712,868 2,180,738 7,324,890 2, 467, 134 3, 136, 193 8,737,452 4,404,593 10,201,156 4,625,121 10,354,393 3,611,343 3,170,356 3,290,514 26,465 1,184,536 954, 766 229,770 149,252 149,252 a, 000 3,611,343 9,365,659 3,170,356 8,870,978 26,000 4,393,169 3,290,514 8,997,093 4,3 10,062,111 1,520,911 1,683,724 3,572,245 4,748,311 '2,"964,'557' 4,768,692 '2,'556,'i98' 4,902,109 '2,'987,'877' 4,991,419 '3,' 746,' 033' 5,119,306 '5,"68i,'856' 5,151,258 '5,'263,"i35' 6,193,866 '4,'i7i,'764' 6,206,997 '3,'663,"98i' 5,228,163 "3,' 768,' 930 6,264,971 25,000 4,782,140 28652°— 14 11 162 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENEBAL TBEASURY CASH, A — Detailed Exhibit of the Indebtedness of OKLAHOMA. chaHacter and purpose of issue. Year ot issue Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING— June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. June 30, 1899. June 30, 1900. 1 Total $131,671 $208,096 $211,241 $238, 138 $284,263 $318,303 $427,054 2 Funded debt 48,000 48,000 48,000 48,000 48,000 48,000 48,000 Bonds: 1893 1893 1893 1910 1911 1908 1923 1923 1923 1914-22 1923-27 1918-27 6 6 6 5 6 4 3 18,000 15,000 16,000 18,000 15,000 15,000 18,000 16,000 15,000 18,000 15,000 15,000 18,000 15,000 16,000 18,000 16,000 16,000 18,000 15,000 15,000 4 Normal school S fi 7 Public building.... R 9 Floatingdebt 83,671 160,095 163,241 190,138 236,263 270,303 379,054 1(1 83,671 160,095 163,241 190,138 236,263 270,303 379,054 B — Detailed Exhibit of General Treasury Cash and the Assets of rUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND— June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. June 30, 1899. June 30, 1900. 1 Total $141,590 $210,067 $264,213 $366,932 $414,573 $364,596 $626,899 Common school fund ? 141,460 133,399 173,910 292,486 277,346 266,407 416,123 3 141,460 130 133,399 21,328 173,910 21,888 292,486 3,460 277,346 24,834 266,407 2,642 416,123 3,400 4 Cash s 130 21,328 26,282 21,888 33,640 3,460 33,278 24,834 66,303 2,642 47,040 3,400 48,899 ft Keal estate mortgages 7 26,282 33,640 33,278 56,303 3,528 47,040 6,328 48,899 6,450 R Real estate mortgages ..... 9 3,528 52,663 6,328 43,179 6,450 52,027 10 Public building fund 29,068 34,776 36,708 Keal estate mortgages 11 29,058 34,775 36,708 62,563 43,179 62,027 12 School land commissioner fund State bonds 13 14 Farm loans 15 16 Cash 17 General and special funds Cash '.. . 18 141,690 210,067 264,213 (■) 366,932 0) 414,673 364,696 626,899 19 Total Keal estate mortgages ?n 141,460 188,739 242,326 362,472 389,739 361,964 623,499 21 State bonds 2? Farm loans "Xt County bonds 24 Casb 130 21,328 21,888 3,460 24,834 2,642 3,400 'Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Oklahoma: June 30, 1894, to November 30, 1912. 163 OKLAHOMA. AMOUNT OUTSTANDING— continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907.1 Not. 30, 1907. Nov. 30, 1908. Nov. 30, 1909.1 Nov. 30, 1910. Nov. 30, 1911.1 Nov. 30, 1912. $466,220 $466,950 $509,766 $655,937 $673,805 $751,038 $875,990 $1,460,000 $3,993,361 $6,930,243 1 48.000 48,000 48,000 1,460,000 1,968,000 ' 3,055,000 7 18,000 15,000 15,000 18,000 15,000 15,000 18,000 15,000 15,000 1 4 <) 498,000 626,600 968,600 1,460,000 3,875,243 7 1,460,000 0) 1,460,000 2,035,361 8 418,220 418,950 461,766 655,937 , 673,805 761,038 875,990 9 418,220 418,950 461,766 655,937 673,806 751,038 876,990 2,035,361 3,875,243 in Phodttcttve Funds of Oklahoma: June 30, 1894, tq November 30, 1912. CASH ANI) SECURITIES ON HAND — Continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907.1 Nov. 30, 1907. Nov. 30, 1908. Nov. 30, 1909.1 Nov. 30, 1910. Nov. 30, 1911.1 Nov. 30, 1912. $829,192 $1,210,564 $1,447,121 $1,569,435 $1,610,232 $1,966,788 $932,686 $6,312,967 $5,731,943 $6,456,357 392,239 432,301 645, 199 672,262 632,568 857,468 7 392,239 3,729 432,301 3,737 045,199 672,262 632,568 857,468 1 3,729 84.008 3,737 111,858 5 102,705 166,333 172,978 160,716 fi 84.008 10,428 111,858 9,592 102,705 11,712 166.333 24,872 172,978 19.547 160,716 23,204 10.428 80,198 9,592 110,705 11,712 108,580 24,872 154,985 19.547 171.460 23,204 165,017 Q 10 80,198 110,706 108,580 154,985 171.460 165,017 ' '"' 6,043,000 5,077,313 5,337,819 12 1,460,000 1,038,260 1,094,600 1,450,250 1,269,967 290,000 3,684,680 1,094,500 268,639 1,118,538 1? 3,187,492 1,094,500 795,321 664,630 14 1") 16 258,590 542,371 578,925 540,983 613,679 749,383 932,585 17 258,590 829,192 542,371 1,210,564 578,925 1,447,121 540,983 1,559,435 613,679 1,610,232 749,383 1,955,788 932,585 932,685 1,269,967 6,312,967 654,630 5,731,943 1,118,538 6,456,357 18 19 566,873 664,466 868,196 1,018,462 996,553 1.206,406 •>o 1,460,000 1.038,260 1,094,600 2,720,217 290,000 3,684,680 1,094,500 1.387,177 71 3,187,492 1,094,500 1,449,961 ■)9 71 262,319 546,108 578,925 540,983 613,679 749.383 932,685 74 164 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness op OBEOON. CHARACTEB AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Eate of in- terest. AMOUNT OUTSTANBINO — Dec. 31, 1893.1 Deo. 31. 1894. Dec. 31, 1895.1 Dec. 31, 1896. Deo. 31, 1897.1 Deo. 31, 1898. Deo. 31, 1899.1 1 Total $2,500 $63,294 $37,425 ■pnnflpil flebtr . . t, 1,830 1,830 1,830 Bonds: 1864 1864 1874 1878 1875 1884 1881 1883 Ceased. Ceased. Ceased. Ceased. 1 761 60 818 701 670 761 60 318 701 61,464 761 50 318 701 35,595 4 RnlrtiA^'?' hniint-y fi Modoo War A 7 Floating debt K 477 477 35, 794 193 25,000 477 34,925 19S 4 Swamp land fiiTiH warranft; in Matured interest on warrants 193 11 B — Detailed Exhibit of General Tbbasuey Cash and the Assets of FUND AND CUABACTEB OF INVESTMENT. CASH AND SECURITIES ON HAND — Dec. 31, 1893.1 Dec. 31, 1894. Dec. 31, 1895.1 Doc. 31, 1896. Dec. 31, 1897.1 Dec. 31, 1898. Deo. 31, 1899.1 1 Total 12,943,485 $3,116,887 $3,747,794 rnjyinio" school fllT^d . , . ? 2,531,017 2,663,730 3,199,302 - 7i 2,472,030 2,499,552 13,780 150,398 103,872 2,621,164 133,240 444,898 101,398 4 f, Cash . 58,987 102,155 6 TTnivfirsity fllTld 7 101,346 98,920 3,000 1,952 137,306 98,805 R Other securities « Cash 809 133,031 3,093 140,695 10 Aprinnltnrftl nnllegA fnnH 11 129,762 133,601 131,386 1? Other securities 13 Cash 3,279 3,705 9,309 14 Heal estate mortgages. .. . . . " I"! 1 16 Other securities... 1 17 Cash IS 19 W ■ 177,282 211,979 306,399 Cash 71 177, 282 2,943,485 211,979 3,116,887 306,399 3,747,794 22 Total , ?(l Keal estate mortgages.. . . 2,703,128 2,732,073 16,780 368,034 2,850,855 133,240 763,699 ?4 ?') Cash 240,3^7 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Oregon: December 31, 1893, to September 30, 1912. 165 ORBQON. AMOUNT OHTSTANDiNG— continued. Deo. 31, 1900. Deo. 31, 1901.1 Sept. 30, 1902. Sept. 30, 1903.1 Sept. 30, 1904. Sept. 30, 1905.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30, 1912. $280,712 $235,298 $238,183 $183,808 $13,019 $37,825 $30,862 1 1,044 1,044 1,044 706 697 653 663 2 661 651 551 - 561 551 551 661 3 t 104 389 279,668 ibi 389 234,254 104 389 237,139 104 51 183,102 104 42 12,322 60 42 37, 172 60 42 30,199 S ( 7 242,482 36,920 266 195,314 38,940 192,936 44, 204 183,102 12,322 37, 172 30,199 fl f 1(1 11 - Productive Funds of Oregon: December 31, 1893, to September 30, 1912. CASH AND SECUBiTiES ON HAND— Continued. Dec. 31, 1900. Dec. 31, 1901,1 Sept. 30, 1902. Sept. 30, 1903.1 Sept. 30, 1904. Sept. 30, 1905.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept, 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30, 1912. $4,224,344 $4,871,729 $5,248,396 $5,243,017 36,106,266 $6,732,476 $7,485,067 1 3,637,982 4,237,216 4, 604, 261 4,599,461 6,429,931 6,038,465 6,262,649 ? 2,869,923 181,048 596,981 103,046 2,423,015 1,084,766 729,435 102, 167 3,234,230 1,169,670 200,361 103,415 3,728,540 804, 038 71,883 104,206 4,206,713 923, 306 299,912 104,205 6,078,146 908,285 52,026 103,636 5,560,764 617,630 84,156 103,636 3 4 5 6 88,394 9,180 5,472 157,303 83,835 14,249 4,083 165,933 90,487 6,963 5,975 193, 779 94,847 6,210 3,148 195,616 98,875 4,490 840 195,879 100,725 2,720 190 198, 784 102,416 7 8 1,219 201,384 9 in 138,576 2,600 16,127 109,083 19,205 27,645 141,899 36,498 15,382 ',846 163,663 23,080 8,872 14,296 190,163 4,549 1,167 20,391 191,960 3,079 3,745 22,655 193,691 2,360 5,333 24,481 11 1? 13 14 470 12,299 19,250 600 541 22,050 600 5 24,350 15 16 2,376 1,997 131 120 17 18 120 902,898 19 326,043 376,413 344,095 329,440 355,860 368,947 20 326,043 4,224,344 376, 413 4,871,729 344,095 6, 248, 396 329,440 6,243,017 355,860 6,106,266 368,947 6, 732, 476 902,898 7, 485, 067 'I 22 3,086,893 192, 828 944,623 2,615,933 1,118,'?50 1,137,576 3,467,086 1,213,121 568,189 3,994,349 833,328 416, 340 4,616,001 932,945 668,320 6,392,880 914,684 424,912 6,871,341 619,990 993, 736 n 24 26 166 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op PENNSYLVANIA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Bate of in- terest. AMOUNT OUTSTANDDIG— Nov. 30, 1893. Nov. 30, 1894. Nov. 30, 1895. Nov. 30, 1896. Nov. 30, 1897. Nov. 30, 1898. Nov. 30, 1899. 1 Total $8,288,061 16,819,661 86,816,309 $6,815,305 $6,815,305 $6,815,299 $6,815,299 ? 8,288,061 6,819,661 6,816,309 6,816,305 6,815,305 6,815,299 6,815,299 Bonds: Debt upon which interest has ceased 1& 1881 1881 1872 1887 1^ 1883-1912 1883-1912 1922 Perpetual. Ceased. 4 3.5 4 6 6 3 4 135,211 1,471,700 1,642,900 4,621,250 517,000 138,511 135, 159 134,155 134,155 134,149 134,149 a Refunding 1,642,900 4,521,250 517,000 1,642,900 4,521,250 517,000 1,642,900 4,521,250 517,000 1,642,900 4,521,250 517,000 1,642,900 4,521,250 517,000 1,642,900 4,521,250 517,000 A 7 R Special debt oBllgations to public trust funds: Agricultural college land scrip bond Proceeds sale of experimental farm B — Detailed Exhibit of General Treasury Cash and the Assets of FUND AND CHARACTER OF INVESTMENT. Total.. - SinMngfund. United States consols.. Railroad bonds 1... Cash Agricultural college fund Special debt obligations to public trust funds . General and special funds Canal and Navigation Company stock . Cash Total. Special debt obligations to public trust funds . United States consols Railroad bonds Canal and Navigation Company stock Cash $12,920,772 CASH AND SECURITIES ON HAND— Nov. 30, $10,275,701 5,849,731 3,360,000 1,600,000 889,731 517,000 6,554,041 6,o54,041 12,920,772 617,000 3,360,000 1,600,000 7,443,772 Nov. 30, 1894. 4,743,759 3,177,375 1,500,000 66,384 517,000 517,000 5,014,942 6,014,942 10,275,701 617,000 3,177,375 1,500,000 5,081,326 Nov. 30, 1895. $8,454,654 4,948,635 3,108,000 1,400,000 440,635 2,989,019 2,989,019 8,454,654 517,000 3,108,000 1,400,000 3,429,654 Nov. 30, 1896. $9,904,354 5,137,097 3,024,750 1,300,000 812,347 517,000 517,000 4,250,2.57 4,250,257 9,904,354 617,000 3,024,750 1,300,000 5,062,604 Nov. 30, 1897. $9,989,450 5,515,639 3, 135, 750 1,200,000 1,179,889 517,000 3,956,811 3,956,811 517,000 3,135,7.50 1,200,000 5,136,700 Nov. 30, $9,213,017 5,766,400 3,108,000 1,100,000 1,558,400 517,000 517,000 2,929,617 2,929,617 9,213,017 517,000 3,108,000 1,100,000 4,488,017 Nov. 30, 1899. $8,901,496 5,729,255 2,775,000 1,000,000 1,954,255 617,000 517,000 2,655,241 2,655,241 8,901,496 517,000 2,775,000 1,000,000 > Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Pennsylvakia: November 30, 1893, to November 30, 1912. PENNSYLVANIA. 167 AMOUNT OUTSTANDING— continued. Nov. 30, 1900. Nov. 30, 1901. Nov. 30, 1902. Nov. 30, 1903. Nov. 30, 1904. Nov. 30, 1905. Nov. 30, 1906. Nov. 30, 1907. Nov. 30, 1908. Nov. 30, 1909. Nov. 30, 1910. Nov. 30, 1911. Nov. 30, 1912. $6,815,299 $6,815,299 $4,806,649 $4,718,817 $4,718,817 $4,1.31,867 $3,646,167 $2,727,617 82,689,617 $2,643,917 $2,384,867 $2,295,510 $669,160 1 6,816,299 6,815,299 4,806,649 4,718,817 4,718,817 4,131,867 3,646,167 2,727,617 2,689,617 2,643,917 2,384,867 2,295,510 669,160 2 134,149 134,149 134,149 134,117 134,117 134,117 134,117 134, 117 134,117 134,117 134,117 134,110 134,110 3 4 1,642,900 4,521,250 517,000 1,642.900 4,621,250 617,000 743,460 3,412,050 500,000 17,000 695,460 3,372,250 500,000 17,000 695,450 3,372,250 600,000 17,000 695,450 2,785,300 600,000 17,000 582, SOO 2,412,250 600,000 17,000 552.260 1,524,260 600.000 17,000 552,250 1,486,260 600,000 17,000 552,260 1,440,660 500,000 17,000 532,260 1,201,600 600,000 17,000 632,260 1,112,160 500,000 17,000 8,050- 5 600,000 17,000 7 8 Productive Funds of Pennsylvania: November 30, 1893, to November 30, 1912. CASH AND SECURITIES ON HAND— Continued. Nov. 30, 1900. Nov. 30, 1901. Nov. 30, 1902. Nov. 30, 1903. Nov. 30, 1904. Nov. 30, 1906. Nov. 30, 1906. Nov. 30, 1907. Nov. 30, 1908. Nov. 30, 1909. Nov. 30, 1910. Nov. 30, 1911. Nov. 30, 1912. $10,841,989, $11,800,022 $14,583,261 $17,428,014 $17,264,323 $13,860,482 $13,171,998 $14,037,665 $10,572,560 $9,661,970 $10,840,994 $13,865,326 $10,713,806 1 6,002,652 6,294,966 4,417,440 4,427,322 4,531,217 4,000,576 3,414,521 2,619,299 2,642,531 2,662,036 2,440,857 2,396,683 786,611 2 2,776,000 900,000 2,327,652 617,000 2,775.000 800,000 2,719,966 517,000 500,000 300,000 2,614,521 617,000 20,000 200,000 2,399,299 617,000 3 700,000 3,717,440 517,000 600,000 3,827,322 517,000 500,000 4,031,217 517,000 400,000 3,600,676 617,000 100,000 2,642,631 617,000 4 2,662,035 617,000 2,440,857 517,000 2,396,683 617,000 786,511 517,000 S 6 517,000 4,322,337 517,000 4,988,066 517,000 9,648,821 617,000 12,483,692 517,000 12,206,106 517,000 9,342,906 517,000 9,240,477 517,000 10,901,366 617,000 7,413,029 617,000 6,382,936 517,000 7,^3,137 617,000 10,941,643 517,000 9,411,295 7 8 , 497,456 9,161,366 14,683,261 492,465 11,991,237 17,428,014 414,955 11,791,161 17,254,323 414,956 8,927,961 13,860,482 414,955 8,825,522 13,171,998 414,956 10,486,411 14,0.37,665 414,965 6,998,074 10, 672, 660 414,955 6,967,980 9,661,970 414,956 7,468,182 10,840,994 414,966 10,526,688 13,856,326 414,956 8,996,340 10,713,806 9 4,322,337 10,841,989 4,988,066 11,800,022 10 11 617,000 2,775,000 900,000 617,000 2,775,000 800,000 617,000 617,000 517,000 517,000 617,000 500,000 300,000 414,956 11,440,043 517,000 20,000 200,000 414,966 12,886,710 617,000 617,000 617,000 517,000 617,000 12 13 700,000 497,455 12,868,806 600,000 492,456 15,818,569 600,000 414,956 15,822,368 400,000 414,956 12,628,527 100,000 414,955 9,640,606 14 414,955 8,620,016 414,955 9,909,039 414,965 12,923,371 414,966 9,781,851 15 6,649,989 7,708,022 16 168 WEALTH, DEBT, AND TAXATION. Table I.— DETAILEB EXHIBIT OP INBEBTEBNESS, GENERAL TREASURY CASH, A — Betailed Exhibit of the Indebtedness op RHODE . ISLAND. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Eat« of in- terest. AMOUNT OUTSTANDING— Dec. 31, 1893. Deo. 31, 1894. Dec. 31, 1895. Deo. 31, 1896. Dea 31, 1897. Deo. 31, 1898. Dec. 31, 1899. 1 Total $753,440 $1,571,951 $1,654,440 $1,554,952 $1,557,458 $2,648,271 $2,670,619 Funded debt 2 699,000 1,517,000 1,500,000 1,500,000 1,500,000 2,300,000 2,300,000 Bonds: Militjiry TinrTmsps 1864 1893 1898 1906 1906 1908 1909 1909 1911 1912 1894 1904-34 1938-41 1936 1946 1958 1939 1969 I960 1942 6 3.5 3 3 3 3.5 3.5 3.5 4 4 3 699,000 17,000 1,500,000 4 i, 566, 666 1,500,000 1,500,000 1,600,000 800,080 1,500,000 800,000 5 Statehouse 6 . 7 Providence armory 8 Mfitrnpnlitan parlr 9 in 11 12 13 Floating debt 64,440 54,951 54,440 54,952 57,468 248,271 270,619 Private trust fund 14 54,440 54,961 54,440 54,962 67,458 58,271 190,000 60,619 210,000 15 State notes B — Betailed Exhibit op General Tebasury Cash and the Assets op FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND — Deo. 31, 1893. Dec. 31, 1894. Dec. 31, 1895. Dec. 31, 1896. Deo. 31, 1897. Deo. 31, 1898. Dee. 31, 1899. 1 Total $1,753,209 $2,156,759 $1,858,442 $1,309,468 $834,546 $1,317,000 $920,236 Sinking fund ... ... ? 1,230,690 90,668 146, 790 183,616 209,422 255, 089 295,752 3 697,000 426,302 207,288 273,330 4 88,348 2,320 273,330 137,348 8,442 273,330 181,348 2,168 273, 330 164,000 66,422 273,330 160,370 94, 719 293,262 242,408 53,344 245,625 s Cash 8 7 1 8 ■pftTilr nfnoV , 19,932 273,330 22,685 158,005 64,936 60,619 9 Mnnim'pn.1 Tint.pq anH hnnfls 273,330 273,330 273,330 273,330 273,330 10 Cash * 11 64,440 64,961 54,440 54,962 57,458 58,271 ■RanV afnr^z- ^9, 17,435 17, 436 17, 435 17,435 17,435 17,435 17, 435 n 14 Cash . 37, 005 37,516 37,005 37,517 40,023 40,836 43,184 I') I/and grant fund of 1862 . . 1 1H 17 Cash IS rj-ptnerfll flTi^ nppm'al fimdR 194,849 1,737,810 1,384,882 797, 670 294,336 710,378 318,340 Cash.. 19 194,849 1,763,209 1,737,810 2,156,769 1,384,882 1,858,442 ■ 797,670 1,309,468 294,336 834,546 710,378 1,317,000 318,340 920,236 '>n Total *>! 597,000 699,632 17,435 439,142 22 361,678 17,435 1, 777, 646 410,678 17, 435 1,430,329 464, 678 17,436 837, 355 427,330 17, 436 389,781 433,700 37,367 846,933 400,413 40,020 479,803 0? 94 Cash NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OF STATES: 1893 TO T913— Continued. Khode Island: December 31, 1893, to December 31, 1912. rhode island. 169 AMOUNT OUTSTAITOINQ— continued. Dec. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Dec. 31, 1904. Dec. 31, 1905. Dec. 31, 1906. Dec. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Dec. 31, 1910. Deo. 31, 1911. Dec. 31, 1912. $2,642,785 S3, 157, 165 13,056,205 $3,036,036 $2,967,636 $3,005,462 $3,869,346 $3,869,984 $4,220,135 $5,070,483 $4, 720, 915 $5,100,614 $5,800,308 1 2,300,000 2,978,000 2,978,000 2,978,000 2,700,000 2,700,000 3,660,000 3,650,000 3,900,000 4,800,000 4,600,000 5,030,000 5,680,000 2 3 1,500,000 800,000 1,478,000 1,500,000 1,478,000 1,600,000 1,478,000 1,500,000 1,200,000 1,500,000 1,200,000 1,600,000 1,200,000 1,600,000 600,000 350,000 1,200,000 1,500,000 600,000 360,000 1,200,000 1,500,000 600,000 360,000 250,000 1,200,000 1,500,000 600,000 350,000 260,000 600, 000 300,000 1,000,000 1,500,000 600,000 360,000 250,000 600,000 300,000 930,000 1,500,000 600,000 350,000 260, 000 600,000 300,000 500,000 880,000 1,500,000 600,000 360,000 250,000 600,000 300,000 500,000 600,000 220,308 4 5 6 7 8 9 K 11 1? 242, 785 179, 155 78,205 57,036 257,536 305,462 219,346 219,984 320, 135 270,483 120,916 70, 614 13 62,785 180,000 64, 155 115,000 68,205 20,000 57,036 57,636 200,000 60,462 245,000 69,346 160,000 69,984 150,000 70,135 250,000 70,483 200,000 70,915 60,000 70,614 70,308 150,000 14 IS Productive Funds of Rhode Island: Dbcemsbr 31, 1893, to December 31, 1912. CASH AND SECURITIES ON HAND— Continued. Dec. 31, 1900. Dec. 31, 1901. Deo. 31, 1902. Deo. 3], 1903. Dec. 31, 1904. Dec.'31, 1905. Dec. 31. 190G. Dec. 31, 1907. Dec. 31, 1908. Deo. 31, 1909. Dec. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. $962,238 $1,335,246 $1,086,264 $914,917 $736,413 $839,320 $1,413,977 $1,270,664 $1,289,007 $1,827,060 $1,180,198 $1,593,782 $1,686,368 1 338, 036 389,437 444,452 602,065 317,136 359,559 415,606 490,637 558, 361 664,999 648,906 693,310 673, 493 2 60,000 489, 000 54,310 242,678 3 333, 227 4,809 249,184 337,039 62,398 247,471 329,039 115,413 254,137 315,039 187,026 255,451 313,039 4,097 257,413 356,039 3,520 257,414 409,039 6,467 259,133 466,355 24,282 262,225 640,000 18,361 237,644 643,000 11,999 239,687 491,000 67,906 239,706 503,000 170,493 246,215 4 5 6 1,000 20,300 221,000 2,915 70,308 7 22, 585 224,886 1,713 62,785 22,685 223,173 1,713 64,155 22,686 229,393 2,159 68,205 22,585^ 229,393 3,473 57,036 22,685 229,393 5,435 57,636 22,685 229,393 5,436 60, 462 22,585 234,393 2,165 69,346 22,685 237,394 2,246 69,984 20,300 216,000 2,344 70,135 20,300 215.000 4,387 70,483 20,300 216,000 3,406 70,915 20,300 215,000 7,378 70,614 8 9 10 11 17,435 17,435 9,360 9,360 9,360 9,360 9,360 9,360 2,000 68,624 60,000 9,360 8,000 62,775 60,000 9,360 8,000 53,123 60,000 9,360 8,000 63,566 60,000 9,360 8,000 53,254 50,000 9,360 8,000 52,948 60,000 12 13 45,350 46,720 48,845 60,000 47,676 50,000 48,176 50,000 51,102 60,000 69,986 60,000 14 15 5,000 45,000 279,470 5,000 45,000 50,365 1,260 48, 760 64,328 16 50,000 111,885 60, 000 619,992 60,000 397,818 60,000 372,867 50,000 811,891 50,000 270,671 60,000 637,180 60,000 646,362 17 302,233 634,183 18 302,233 952,238 634,183 1,335,246 279,470 1,086,264 60,365 914,917 64,328 736,413 111,885 839,320 619,992 1,413,977 397,818 1,270,664 372,867 1,289,007 811,891 1,827,060 270,671 1, 180, 198 637,180 1,593,782 646,362 1,685,368 19 20 60, 000 712,000 29, 660 802,122 1,000 732, 000 29,660 922, 708 21 558, 113 40,020 354,105 660,212 40,020 735,014 658, 432 36,945 490,887 644,432 36,945 333,540 642,432 33, 196 160,786 585,432 31,945 221,943 643, 432 31,945 738,600 705,749 31,946 532,970 763,000 29,660 496,347 866,000 29,660 931,400 715, 000 29,660 435,538 22 23 24 170 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENEEAL TEEASUKY CASH, A — Detailed Exhibit of the Indebtedness of SOUTH CAROLINA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Rate of interest. AMOUNT OUTSTANDING — Oct. 31, 1893. Oct. 31, 1894. Oct. 31, 1895. Dec. 31, 1896. Dec. 31, 1897. Dec. 31, 1898. Dec. 31, 1899. 1 Total $7,650,399 57,070,238 $7,015,154 $7,032,869 $6,953,376 $6,969,198 $6,fl67,284 Funded debt 2 7,046,521 6,870,741 6,873,149 6,869,647 6,850,607 6,844,946 6,844,968 3 Bonds: TiftVoliitinTiflry War nlnims! 1794 1838 1854, 1853-55 1856 1857 1858 1859 1861 1866 1868 1868 1868 1869 1869 1878 1873-78-79 1887 1889-90 1892 1888-91 1894 (') 1870 1875-79 1871-81 1877 1888 1883-85 1887-89 1882-86 1887-97 1888 1888 1888 1888 1888 1888 1893 1928 1936 1933 Perpetual. Perpetual. Ceased'. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. Ceased. 6 4.5 4 4.5 6 6 488 4,448 38,000 126,000 3,190 1,412 430 461 1,030 4,650 127,000 13,000 17,200 23,600 10,000 657 681,077 400,000 122 5,401,956 191, 800 288 4,448 38,000 126,000 ?,190 1,412 430 461 1,030 4,650 127,000 13,000 9,200 19,600 10,000 22 332,991 400,000 288 4,448 37,000 127,000 3,190 1,412 430 461 1,030 4,650 125,000 13,000 7,700 18,600 10,000 22 331,095 400,000 288 4,448 37,000 127,000 3,190 1,412 430 461 1,030 4,650 125,000 13,000 5,700 18,600 10,000 15 316,776 400,000 288 4,448 37,000 127,000 3,190 1,412 430 461 1,030 4,150 125,000 13,000 4,700 18,600 10,000 15 277,807 400,000 288 4,448 37,000 127,000 3,190 1,412 430 461 1,030 3,660 125,000 13,000 4,700 18,600 10,000 15 270,779 400,000 288 4,448 37,000 127,000 3,190 1,412 430 461 1,030 3,650 125,000 13,000 4,700 18,600 10,000 15 270,779 400,000 4 S Railroad subsidy . , , , 6 7 8 q Construction of state capitol 10 11 1? Fn"diTig , . , 13 14 Payment of interest on public debt Redemption of bills receivable l^i FiiTiHinp; hillq nf at.n.t.ft V>jiTik j 16 Conversion of state securities- . 17 Land commission. 18 19 Payment of claims due to deficiency of revenues. 20 Refunding deficiency bonds and stock . . . ?.?. 6,628,680 191,800 58,539 199,497 5,637,484 191,800 68,539 142,005 5,550,308 191,800 58,539 163,222 5,671,637 191,800 58,539 102,869 5,573,604 191,800 58,539 124,252 5,673,626 191,800 58,539 122,316 ?,3 n S.'i Floating debt 503,878 26 1 4,956 105,000 393,922 17,464 50,000 132,033 4,922 3,029 50,000 110, 193 2,106 10,891 20,000 93,361 9,890 27 28 137,083 100,763 112,426 •jq Private trust fund '" B — Detailed Exhibit op General Treasury Cash and the Assets of FUND AND CHARACTER OF IN^^STMENT. CASH AND SECURITIES ON HAND — Oct. 31, 1893. Oct. 31, 1894. Oct. 31, 1895. Dec. 31, 1396. Dec. 31, 1897. Deo. 31, 1898. Dec. 31, 1899. 1 Total $.TO7,415 $502,655 $584,365 $936,372 $893,005 $927,778 $1,017,273 Sinking fund 2 42,902 93,839 189,690 258,000 308, 402 342,896 391,088 3 Soutli Carolina bonds 25,000 35,728 36, 728 211, 600 10,772 50,217 35, 728 108, 039 164,635 49,953 35,728 137, 070 170,097 60,321 35, 728 163,284 192,076 49,294 4 5 Cash 43,902 68,839 153,962 6 Permanent school fund 7 ■47,458 1,700 1,059 191,800 47, 4.58 1,700 795 191,800 47, 468 1,700 1,163 191,800 47, 468 1,700 136 191,800 8 q Cash in Agricultural college funds 191,800 191,800 191,800 11 191, 800 59,036 191,800 59,355 191,800 68,580 191,800 58,838 191,800 68,848 191,800 68,860 191,800 58,866 12 Clemson fund 13 57, 375 22 58,539 277 22 68,539 287 68, 639 816 15,118 68,539 41 15,782 58,539 321 58,539 327 l^i Cash .. 1,661 14, 493 16 Escheated estates fund 12, 081 2,412 9,019 14, 758 360 9,409 14, 768 1,024 9,784 18 19 Downer fund 10, 447 10,651 •"O 8, 489 630 9,202 207 9,202 582 9,203 1,245 9,202 1,449 'I Cash <,-, - ?,5 General and special funds 190,165 133,034 118,729 367,070 273,351 283,902 326,225 '*fi Cash 190, 165 607,415 133,034 002,556 118,729 584,366 367, 070 936,372 273,351 893,005 283,902 927, 778 326,225 1,017,273 ^7 'Potal . 1- 77,945 191,800 48,960 250,339 59, 688 250,339 92,410 250,339 1,700 211,500 380,423 92,410 250,339 1,700 108,039 440,517 83, 186 250,339 1,700 137,070 456,483 83, 186 250,339 1,700 163,284 618, 764 r\0 Cash 237,670 203, 266 274, 338 L Not reported. s Detail not separated so as to show this fund, exoept*for those years reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PBODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. South Carolina: October 31, 1893, to December 31, 1912. SOUTH CAROLINA. 171 AMOUNI OUTSTANDING — Continued. Deo. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Dec. 31, 1903. Dec. 31, 1904. Dec. 31, 1905. Dec. 31, 1906. Dec. 31, 1907. Dec. 31, 1908. Deo. 31, 1909. Deo. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. $6,968,095 $7,009,522 87,157,917 $6,990,014 $7,201,648 $7,005,624 $7,037,390 $7,069,436 $7,212,417 $7,161,341 $7,060,219 $7,104,948 $7,111,876 ] 6,845,777 6,846,082 6,846,882 6,684,882 6,685,034 6,686,621 6,685,774 6,685,774 6,698,274 6,692,244 6,094,243 6,694,344 6,694,504 r 288 4,448 37,000 127,000 3,190 288 4,448 37,000 127,000 3,190 288 4,448 37,000 127,000 3,190 288 4,448 288 4,448 288 4,443 288 4,448 288 4,448 288 4,448 288 4,448 288 4,448 288 4,448 288 4,448 , 2,000 3,190 2,000 3,190 2,000 3,190 2,000 3,190 2,000 3,190 2,000 3,190 2,000 3,190 2,000 3,190 2,000 3,190 2,000 3,190 i 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,660 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,660 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,650 1,412 430 461 1,030 3,650 i i IC 11 12 122,000 8,000 2,700 17,600 10,000 122,000 6,000 2,700 17,600 10,000 122,000 6,000 2,700 12,600 10,000 122,000 6,000 2,700 12,600 10,000 122,000 6,000 1,950 12,500 10,000 121,000 4,000 1,960 12,600 10,000 121,000 3,000 1,950 12,600 10,000 121,000 3,000 1,950 12,500 10,000 121,000 3,000 1,950 12,500 10,000 121,000 3,000 1,950 12,500 10,000 121,000 3,000 1,950 12,500 10,000 121,000 3,000 1,960 12,500 10,000 121,000 3,000 960 12,500 10,000 13 U IS le 17 15 15 15 15 16 16 15 15 15 15 16 15 15 IS 268,779 400,000 268,779 400,000 268,779 400,000 268,779 400,000 268,779 400,000 268,779 400,000 268,779 400,000 268,779 400,000 268,779 400,000 257,279 400,000 257,279 400,000 267,279 400,000 257,279 400,000 19 20 5,587,435 5,589,740 5,596,540 5,596,640 6,596,542 6,600,129 6,601,282 5,601,282 5,613,782 6,619,252 6,621,261 5,621,352 6,622,512 22 191, 8»0 58,539 191,800 68,539 191,800 58,639 191,800 58,539 191,800 58,539 191,800 58,639 191,800 58,639 191,800 68,639 191,800 58,539 191,800 58,639 191,800 68,539 191,800 58,539 191,800 68,539 23 24 122,318 163,440 311,035 305,132 616,514 320,003 361,616 373,662 514,143 469,097 366,976 410,604 417,371 25 12,026 12,547 ■ 69,575 91,318 14, 182 296,853 12,859 292,273 16,614 500,000 21,877 298, 126 27,264 324,362 19,663 360,000 11,817 500,000 16,763 449,571 18,191 344,960 7,769 400,000 16, 795 400,000 26 110,292 13,999 2,326 2,763 2,835 2,835 676 oq Productive Funds of South Carolina: October 31, 1893, to December 31, 1912. CASH AND SECORITIES ON HAND— Continued. Dec. 31, 1900. Dec. 31, 1901. Deo. 31, 1902. Dec. 31, 1903. Dec. 31, 1004. Dec. 31, 1905. Deo. 31, 1906. Dec. 31, 1907. Dec. 31, 1908. Dec. 31, 1909. Dec. 31, 1910. Dec. 31, 1911. Dec. 31, 1912. $1,114,088 $948,278 $1,180,513 $708,845 $710,823 $1,301,249 $1,297,298 $1,293,463 $1,476,290 $1,498,122 $1,763,212 $1,938,249 $1,875,286 439, 840 469,913 517,648 59,878 20,836 623,600 661,814 697,786 739,688 780, 045 823,931 984,092 921,839 35,728 147,943 256,169 49,477 113,740 283, 170 73,003 49,739 113,741 336,477 67,430 49,652 (') 0) 59,878 49,904 20,836 49,904 115,808 455,581 62,111 52, 104 116,960 633,459 11,395 52, 074 116,960 580, 140 686 65,587 116, 960 692, 471 30,267 68,961 116,960 643,483 19,602 58,961 116,960 654, 675 62,296 58,961 116,960 739, 108 ' 128, 024 69,261 116,960 635,606 169,273 65,604 e 47,468 1,700 319 191,800 47,468 1,700 581 191,800 47,458 1,700 494 191,800 47,458 1,700 746 191,800 47,458 1,700 746 191,800 47,468 1,700 2,946 191,800 47,458 1,700 2,916 191,800 47,458 47,458 47,458 47,458 43,829 46,618 f 8,129 191,800 11,503 191,800 11,603 191,800 11,503 191,800 16,432 191,800 18,986 191,800 IC 191,800 58,866 . 191,800 58,900 191,800 68,900 191,800 58,914 191,800 58,933 191,800 68,949 191,800 58,975 191,800 68,997 191,800 59,015 191,800 69,015 191,800 59,056 191,800 59,076 191,800 59,097 1 li r 68,539 327 68,539 361 58,639 361 68,539 375 68,539 394 68, 539 410 58, 539 436 68,539 458 23,999 58, 539 476 2,326 68,539 476 2,763 58,539 516 2,835 68,539 537 2,836 58,539 658 576 1' 1. V V 3,999 2,326 2,763 2,835 2,836 676 1 1< •>( 74 3,111 6,534 5,652 2,473 22,224 28,680 36,676 46,686 61,929 64,620 78, 361 91,087 2 13,417 8,807 352,672 27,7'4 906 303,955 23,118 13,558 248,618 44, 692 994 378,814 47,800 4,129 363,609 45,050 19,470 662, 110 62,667 15,704 662,824 69. 546 31,541 545,283 ? 74 ,374,031 3,111 174,815 6,534 355,979 5,652 342,697 2,473 386,877 2 2 374,031 1, 114, 088 174,815 948,278 355,979 1,180,513 342,697 708,845 386,877 710, 823 352,672 1,301,249 303,955 1,297,298 248,618 1,293,463 378,814 1,476,290 353,609 1, 498, 122 662, 110 1,763,212 562,824 1,938,249 646, 2S3 1,875,286 2 2 83, 186 250,339 1,700 147,943 630,920 161, 198 250,339 1,700 283, 170 ■ 251,871 161, 199 250,339 1,700 336,477 3 430,798 47,458 250,339 1,700 (') 409,348 47, 458 250, 339 1,700 (') 411,326 163, 266 250, 339 1,700 468,998 416,946 164,418 250, 339 1,700 661, 233 319,608 164,418 260,339 164,418 250, 339 164, 418 250,339 164,418 250,339 160, 789 250,339 163,578 260,339 2 2 1 603,268 276,448 637, 163 424, 370 691,283 392,082 699, 725 648,730 801,765 725,356 696, 152 766,217 3 3 ' Does not include penitentiary fund. 172 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness of SOUTH DAKOTA. CHARACTER. AND PTJRPOSE OF ISSUE. Year of issue. Year of ma^ turity. Rate of in- terest. AMOUNT OUTSTANDING— June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. June 30, 1899. June 30, 1900. 1 Total $1,040,200 81,562,800 81,388,200 $1,086,600 $861,600 $708,300 $613,300 T?iTnHfiH dfiht ? 1,040,200 1,138,200 1,138,200 1,011,600 861,600 708,300 613,300 Bonds: 1883 1883 1884 1884 1884 1885 1887 1883 1885 1883 1885 1885 1887 1887 1887 1887 1887 1887 1887 1887 1889 1889 1890 1890 1890 1890 1891 1892 1892 1895 1903 1903 1904 1904 1904 1905 1907 1903 1905 1903 1905 1905 1907 1907 1907 1907 1897 1902 1907 1907 1909 1909 1910 1910 1910 1910 1911 1912 1912 1905 5 5 6 5 5 6 4.5 6 6 6 6 6 4.5 6 5 5 5 4.5 4.5 4.6 4 4 4 4 3.5 4 4 4 3.6 4.5 ■^ 10,000 10,000 2,000 600 500 20,000 54,500 12,000 16,000 30,000 13,600 10,000 90,000 30,000 23,000 23,000 25,000 35,800 30,000 14,300 45,000 107,500 100,000 50,000 135,000 25,000 20,000 15,000 92,600 10,000 10,000 2,000 50« 500 20,000 64,500 12,000 16,000 30,000 13,600 10,000 90,000 30,000 23,000 23,000 25,000 36,800 30,000 14,300 46,000 107,600 100,000 60,000 135,000 25,000 20,000 15,000 92,500 98,000 424,600 10,000 10,000 2,000 500 500 20,000 54,500 12,000 16,000 30,000 13,600 10,000 90,000 30,000 23,000 23,000 25,000 35,800 30,000 14,300 45,000 107,600 100,000 50,000 135,000 25,000 20,000 15,000 92,500 98,000 250,000 10,000 10,000 2,000 60O 500 5 5 7 Agricultural colleee S q 64,500 64,500 54,500 54,500 T* Construction of main building of university n 11 11 90,000 30,000 23,000 23,000 39,000 17 1S Of) 35,800 30,000 14,300 45,000 107,600 100,000 60,000 135,000 25,000 20,000 16,000 92,600 98,000 75,000 35,800 30,000 14,300 45,000 107,600 100,000 50,000 135,000 25,000 20,000 15,000 92,500 98,000 35,800 30,000 35,800 30,000 46,000 107,500 45,000 107,500 0^ Refunding bonds of 1883 . 25 26 27 28 29 30 31 32 33 Stare of indebtedness, Territory of Dakota RefundiTiB indebtedness, Territory of Dakota. . . Refunding indebtedness. Territory of Dakota. . . Share of indebtedness, Territory of Dakota Refunding indebtedness. Territory of Dakota. . . Refunding indebtedness. Territory of Dakota. . . 50,000 135,000 25,000 20,000 15,000 92,600 98,000 135,000 15,000 92,600 98,000 424,600 250,000 75,000 35 36 1 1 1 NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. South Dakota: June 30, 1894. to June 30, 1913. 173 SOUTH DAKOTA. AMOUNT onTSTANDiNO — continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1007. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $863,300 $677,600 $504,000 $489,000 $637,000 $462,000 $260,000 $404,318 $676,049 $835,425 $661,332 $559,631 $370,000 1 613,300 437,500 289,000 289,000 237,000 212,000 2 t\ t\ 7 g 54,600 54, 500 54,500 64,500 64,600 64,600 9 7j 11 16 17 IK 35,800 30,000 f>0 30,000 30,000 30,000 30,000 30,000 21 w 45,000 107,600 46,000 107,500 45,000 107,500 45,000 107,500 46,000 107,500 30,000 97,600 n ?4 ''5 9fi 135,000 VJ •nt 90 15,000 92,500 98,000 250,000 10 92,500 98,000 250,000 11 52,000 216,000 52,000 200,000 1? 400,000 260,000 260,000 404,318 676,049 835,425 661,332 669,631 370,000 33 250,000 250,000 M 215,000 200,000 400,000 250,000 250,000 250,000 154,318 600,000 176,049 835,425 600,000 61,332 500,000 59,631 370,000 15 16 1'74 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENEEAL TREASURY CASH, B — Detailed Exhibit op General Treasury Cash and the Assets of SOUTH DAKOTA— Continued. PCND AND CHABACTER OP INVESTMENT. CASH AND SECURITIES ON HAND— June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. June 30, 1899. June 30, ' 1900. 1 Total $976,672 1892,963 51,035,178 81,069,301 51,310,535 11,616,185 51,747,687 Sinking fund 2 39,326 25, 362 67,931 84,904 159,868 126,628 72,489 Cash S 39,326 571, 470 25,362 619, 022 67,931 650,123 84,904 780,494 159,868 943,672 126,528 1,169,647 72,489 i 1,463,934 4 Securities n 543,546 27,924 572,473 46,549 623,018 27,105 647,478 133,016 800,323 143,349 964,919 194,728 1,178,166 285,768 667 fi Casli 7 Agricultural college fund Securities R 9 Cash 557 ^ 3,481 in 700 2,500 3,481 3,481 Securities 11 2,500 981 3,480 1 3,480 1 ; n Cash 700 2,500 13 Securities 14 11 Cash.. . . 16 17 IS Cash 19 ?.n ?1 Cash m State blind fund n 1 ?4 Aberdeen Normal School fund ?■; % TTpjverpity funri , , ?7 ?S Northern Hospital fund Securities ?fl 30 , Securities 31 3? Securities 33 34 Cash 35 Public buildings fund Securities 3fi 1 37 Cash 3S General and special funds ..... . . ... 365,776 248,579 316,424 191,403 203,524 225,529 207,226 Cash ?() 365,776 976,672 248,679 892,963 316,424 1,036,178 191,403 1,069,301 203,524 1,310,535 225,529 1,615,185 207,226 1,747,687 4ft Total....: 41 643,546 433,026 572,473 320,490 623,018 412, 160 647, 478 411,823 802,823 607,712 968,399 546,786 1,181,646 666,041 4'> Cash 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. 175 AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Productive Funds op South Dakota: June 30, 1894, to June 30, 1913. ' SOTTTH DAKOTA— Continued. CASH AND SECUEiTiES ON HAND— Continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907. June 30, 1908. Juno 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $2,300,493 $2,552,770 $392,198 $4,385,207 $597,984 $6,474,172 $422,714 $6,024,316 $7,224,763 $8,465,378 $9,449,005 $11,163,929 $11,788,130 1 110,429 74,381 46,737 135,509 243,188 231, M7 •> 110,429 1,808,448 74,381 2,240,667 46,737 172,436 136,509 4,109,460 243,188 2,042 231,837 4,810,433 ■^ 8,866 6,263,734 6,164,108 7,364,756 8,361,767 9,627,172 10,223,349 4 1,509,613 298,835 1,117 1,702,166 638,511 1,876 172, 436 1 4,095,688 13, 872 4,660 2,042 1 4,807,587 2,846 62,362 6,207,993 66,741 74,720 6,074,144 89,964 137,17i2 7,314,219 60,637 137,976 8,361,602 10,266 216,883 9, 466, 741 71,431 259,082 10,189,540 33,809 273,887 5 6 7 643 474 3,543 643 1,233 3,643 4,669 1 3,643 « 1 62,362 (') 70,621 4,199 16,603 137, 172 137,976 216, 883 247,682 11,400 148,531 269,082 14,805 149,031 8 1 9 3,643 (') 49,723 124,875 148,631 10 3,480 63 3,480 63 499 3,543 (') 3,543 (') 16,603 48,923 800 39,907 124,875 148,531 147,031 1,600 51,234 148,531 500 51,234 n 1? 1 1,997 1 1,997 1 12,207 35,107 45,474 ij 1,996 1 6,160 0) 1 0) 1,996 1 6,160 1 0) 12,207 39,907 35,107 46,474 49,735 1,499 45,106 51,234 14 499 1,540 1 Ifr 6,160 6,160 6,160 39,222 44,686 1ft 6,160 (') 6,160 « 6,160 6,160 6,160 39,222 43,320 1,786 31,023 44,686 17 1,540 IK 6,600 11,872 11,872 27,098 31,024 19 6,600 11,872 11,872 27,098 30,042 981 5,476 31,024 70 ■'1 676 676 6,476 6,476 5,476 ?7 676 11,049 676 31,349 6,476 31,349 6,476 41,469 6,476 41,469 5,476 41,469 n ?4 11,049 6,376 31,349 15,996 31,349 50,956 41,469 64,865 41,469 64,866 41,469 64,865 7'i ?S 5,376 6,008 15,996 5,008 60,956 5,008 64,865 19,648 64,866 19,648 64,865 19,648 ?7 ?8 5,008 1,840 5,008 1,840 5,008 1,840 19,648 1,840 19,648 1,840 19,648 1,840 79 1,840 W 1,840 1,840 1,000 1,840 800 1,840 800 1,840 5,600 1,840 6,600 1,840 6,600 11 32 800 200 178,677 800 800 5,600 5,600 6,600 31 M 66,201 82,360 69,005 62,912 49,645 35 64, 143 2,068 289,799 108,466 70, 212 441,665 62,982 29,378 677, 792 69,625 9,380 610,198 62,912 49,645 16 37 376,956 230,264 173,023 123,878 362,762 413,847 419,220 913,238 876,021 38 .176,966 2,300,493 230,264 2,552,770 173,023 392,198 123,878 4,385,207 352,762 697,984 289,799 6,474,172 413,847 422,714 441,665 6,024,315 677,792 7,224,763 610, 198 8,465,378 419,220 9,449,005 913,238 11,163,929 876,021 11,788,130 39 40 1,513,736 786,757 1,706,279 846,491 392, 198 4,111,946 273,261 697,984 4,947,631 626,541 422,714 6,462,298 572,017 6,426,829 797,934 7,785,263 670, 115 9,019,520 429,485 10,162,094 1,001,835 10,862,995 "925,135 41 42 9 Does not include " regents' fund." 176 WEALTH, DEBT, AND TAXATION. Table I,— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TEEASURY CASH, A — Detailed Exhibit of the ■Indebtedness op TENNESSEE. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Hate of interest. AMOUNT OUTSTANDDTCi— Dec. 20, 1893.1 Dec. 20, 1894. Dec. 20, 1895.1 Dec. 20, 1896. Dec. 20, 1897.1 Deo. 20, 1898. Dec. 20, 1899.1 1 Total S18,997,732 819,050,212 $19,169,018 Funded debt 2 18,891,300 18,924,400 . 18,967,700 Bonds: Old bonds held by charitable and educa- tional institutions. Old bonds held by United States Govern- ment. 1873 1850-52 1883 1891 1893 1893 1881 1881 1873, 1881 1914 Past due. 1913 1907 1913 1913 Option. Option. Perpetual. (') 6 (>) 3 4 4.5 4.5 5 6 6 6 3 49,000 49,000 34,000 4 5 13,633,800 469,000 1,000,000 600,000 20,000 211,000 2,512,500 396,000 106,432 13,666,900 469,000 1,000,000 600,000 20,000 211,000 2,512,600 396,000 125,812 13,710,200 469,000 1,000,000' 600,000 20,000 226,000 2,512,500 396,000 201,318 5 Eefunding (redemption bonds of 1891) Refunding (redemption bonds of 1893) Penitentiary .... 7 8 Gertihcates of indebtedness in 11 Special debt obligations to pubUc trust funds: 1?. University and agricultural college fund Floating debt 13 Warrants. . . 14 106,432 125, 812 201,318 B — Detailed Exhibit of General Teeasuky Cash and the Assets of FUND AND CHAKACTER OF INVESTMENT. CASH AKD SECURITIES ON HAND— Dec. 20, 1893.1 Dec. 20, 1894. Dec. 20, 1895.1 Deo. 20, 1896. Dec. 20, 1897.1 Dec. 20, 1898. Dec. 20, 1899.1 1 Total. . $4,066,718 $3,584,752 $3,398,571 9 Cash . . . 1 •1 2,512,500 2,612,500 2,512,500 Ppe(iial deM oT>lJgf\tTonn tn pn>tli> triT't- f^iTi'i'' ... 5 2,512,500 801,000 2,512,500 801,000 2,512,600 801,000 n TTnivprP'ty ft"'! HprimltiiT'al pnllpgA JjmA 396,000 405,000 753,218 396,000 405,000 271,252 396,000 405,000 85,071 s fVrtififfttps of inrfft'htp.^lTip.q.q'" 9 Cash 1ft 753, 218 4,066,718 271, 252 3,584,752 85,071 3,398,571 li Total 2,908,500 405,000 753,218 2,908,500 405,000 271,252 2,908,500 405,000 85,071 n OflrtififatAf? of iji^'e^tAflTipfls' 11 Cash 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Tennessee: December 20, 1893, to December 20, 1912. tennessee. 177 AMOUNT OUTSTANDING— continued. Dec. 20, 1900. Deo. 20, 1901.1 Dec. 20, 1902. Dec.. 20, 1903.1 Dec. 20, 1904. Dec. 20, 1905.1 Dec. 20, 1906. Dec. 20, 1907.1 Dec. 20, 1908. Dec. 20, 1909.1 Dec. 20, 1910. Dec. 20, 1911.1 Dec. 20, 1912. 118,919,693 $15,807,634 $15,196,828 $13,910,2.38 $12,467,901 $11,801,693 $11,811,728 1 18, 786, 100 16,681,966 15,074,466 13,907,266 12,461,566 11,793,666 11, 793, 666 ? 34,000 (') 13,528,600 469,000 1,000,000 600,000 20,000 226,000 2 2,512,500 396,000 133,593 34,000 335,666 12,601,300 469,000 1,000,000 600,000 20,000 622,000 34,000 335,666 11,993,800 469,000 1,000,000 600,000 20,000 622,000 34,000 335,666 10,826,600 469,000 1,000,000 600,000 20,000 622,000 3 335,666 9,889,900 335,666 9,222,000 335,666 9,222,000 4 a 6 1,000,000 600,000 14,000 622,000 i, 000, 666 600,000 14,000 622,000 i, 666, 666 600,000 14,000 622,000 7 8 <) 10 11 1? 125, 668 122,362 2,972 6,335 8,027 18,060 n 133,593 125,668 122, 362 2,972 6,335 8,027 18,060 14 Productive Funds of Tennessee: December 20, 1893, to December 20, 1912. CASH AND SECURITIES ON HAND— continued. Dec. 20, 1900. Dec. 20, 1901.1 Dec. 20, 1902. Dec. 20, 1903.1 Dec. 20, 1904. Dec. 20, 1905.1 Dec. 20, 1906. Dec. 20, 1907.1 Dec. 20, 1908. Deo. 20, 1909.1 Deo. 20, 1910. Deo. 20, 1911.1 Dec. 20, 1912. $3,423,603 $827,701 $1,540,620 $1,663,997 $1,635,243 $808,384 $1,283,309 1 144 5,691 18, 728 17,231 86 86 ■> 144 5,691 18,728 17,231 86 86 ? 2 2,612,500 4 2,512,500 801,000 ■i 405,000 405,000 405,000 405,000 405,000 405,000 6 396,000 405,000 110,003 7 405,000 422,657 405,000 1,129,929 405,000 1,240,269 405,000 1,213,012 405,000 403,298 405,000 878,223 8 9 110,003 3,423,503 422,557 827, 701 1, 129, 929 1,640,620 ... 1,240,269 1,663,997 1,213,012 1,635,243 403,298 808,384 878, 223 1,283,309 10 11 2 2,908,500 405,000 110,003 1^ 406,000 422,701 406,000 1, 135, 620 405,000 1,258,997 406,000 1,230,243 405,000 403,384 406,000 878,309 n 14 28652°— 14- -12 2 Not reported after 1900 either as debt or an asset. 178 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness of TEXAS. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Rate of in- terest. AMOUNT ODTSTANDING— ^?l93^^' Aug. 31, 1894. Aug. 31, 1896., Aug. 31, 1896. ^?f97^^' Aug-. 31, 1898. Aug. 31, 1899. 1 Total $3,994,177 84,444,718 $4,752,526 $4,062,043 $3,992,405 $3,992,406 $3,994,236 ? 3,992,030 3,992,030 3,992,030 3,992,030 3,992,030 3,992,030 3,989,445 Bonds: Frontier defense 1870 1871 1871 1874 1876 1879 1879 1885 1889 1893 1893 1904 1906 1910 1910 1892 1891 1904 1906 1899 1909 1890 1919 Option. 1933 1944 1946 1950 7 7 6 7 6 4 5 6 5 5 4 3 3 3 ^ 298,000 261,000 25,500 288,000 1,647,000 2,630 1,068,900 200,000 201,000 298,000 298,000 298,000 298,000 298,000 298,000 l\ fi 288,000 1,647,000 2,630 1,068,900 288,000 1,647,000 2,630 1,068,900 288,000 1,647,000 2,630 1,068,900 288,000 1,647,000 2,630 1,068,900 288, 000 1,647,000 2,630 1,068,900 288,000 1,647,000 45 1,068,900 7 Rpfnn'^iTig ... 8 9 Refunding and deficiency in revenue Refunding and deficiency in revenue n Refunding frontier defense bonds 201,000 152,000 334,500 201,000 152,000 334,500 201,000 152,000 334,600 201,000 152,000 334,600 201,000 162,000 334,500 201,000 162,000 334,500 19 R^^fUTTliTig pfvtf 'I"** V>""dfl n Refunding past due bonds. in ^f^ 17 2,147 452,688 760,496 70,013 375 376 4,791 Treasury notesissued toescheated estates funds. 1R 2,147 375 452,313 375 760,121 376 69,638 376 375 1,255 10 '>0 3,536 99 I Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Texas: August 31, 1893, to August 31, 1912. TEXAS. 179 AMOUNT ouTSTANDnjG— continued. Aus. 31, 1900. ^?l6i^^' Aug. 31, 1902. Aug. 31, 1903." Aug. 31, 1904. ^To5^^ Aug. 31, 1906. ^To•7^/' Aug. 31, 1908. Aug. 31, 1909." Aug. 31, 1910. Aug. 31, 1911.1 Aug. 31, 1912. 13,993,969 $3,993,252 $3,989,400 $3,989,400 $3,989,400 $3,989,400 $4,126,966 $4,656,499 1 3,989,400 3,989,400 3,989,400 3,989,400 3,989,400 3,989,400 3,977,600 3,977,500 K 298,000 298,000 298,000 298,000 298,000 298,000 298,000 3 4 5 288,000 1,647,000 288,000 1,647,000 288,000 1,647,000 fi 1,647,000 7 8 1,068,900 1,068,900 1,068,900 1,068,900 1,068,900 1,068,900 1,057,000 1,300 9 in 201,000 152, 000 334, 500 201,000 152,000 334,500 201,000 152,000 334,600 201,000 152,000 334,600 288,000 201,000 152,000 334,600 288,000 1,647,000 201,000 152,000 334,600 288,000 1,647,000 201,000 152,000 334,600 288,000 1,647,000 201,000 152,000 334,600 288,000 1,647,000 1,363,700 678,999 11 12 18 14 Ti 1(f 4,669 3,852 149,465 17 1,167 1,079 18 19 3,402 2,773 ?n 699,318 79,681 ?i 149,465 r» 180 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, B — Detailed Exhibit of General Treasury Cash and the Assets or TEXAS— Continued . FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND. Aug. 31, 1893. Aug. 31, 1894. Aug. 31, 1895. Aug, 31, 1896. Aug. 31, 1897. Aug. 31, 1898. Aug. 31, 1899. 1 Total $9,580,731 $9,292,088 $9,280,480 $9,401,315 $9,350,338 810,259,879 $10,941,450 Permanent school fund. 2 7,832,810 7,785,992 7,753,083 7,793,079 7,816,884 7,929,689 8,420,589 Texas bonds 3 2,162,600 3,760,004 2,162,600 3,851,913 2,162,600 3,663,228 2,163,600 3,659,318 2,164,100 3,530,606 2,173,100 3,186,115 2, 173, 100 2,670,830 4 County bonds 5 School district bonds ■ H 1,753,317 1,753,317 1,753,317 1,763,317 1,753,317 1,603,317 1,603,317 7 Real estate mortgages S Laudsleased 9 Cash 156,889 575,990 18, 162 577,450 173,938 578,233 216, 844 578,540 367,861 579,289 967,157 580,914 1,973,342 581,345 10 Permanent university fund Texas bonds 11 675,840 676,540 676,540 578,540 578,540 578,540 579,700 12 Real estate mortgages 13 Lands leased 14 Cash 150 209,538 910 210,354 1,693 209,830 749 210,336 2,374 211,074 1,645 210, 179 15 Agricultural and mechanical college fund 211,226 Texas bonds Ifi 209,000 538 111,524 209,000 1,364 111,614 209,000 830 113,959 209,000 2,226 114,280 209,000 1,336 115,765 209,000 2,074 116,773 209,000 1,179 118,947 17 Cash IS TtlinH n-qylnin fund . . IQ 111,300 111,500 111,600 111,600 111,500 111,600 115,600 ?0 ^} ?*> Cash 224 61,096 114 61,562 2,459 62,363 2,780 64,286 4,265 65,822 5,273 67,527 1,447 67,742 ■91 94 61,000 61,000 61,000 61,000 61,000 61,000 61,000 '>i ''fl 96 9,805 562 10,092 1,363 10, 101 3,286 10,703 4,822 11,747 6,527 12,536 6,742 12, 412 97 Orphs^n p,sylii"i fu"fl 8,900 9,200 9,200 9,200 9,200 9,200 11,200 9f> •^n Lands leased Cash : 905 111,755 892 112,386 901 113,165 1,603 114,602 2,547 115,936 3,336 116,381 1,212 116,862 ^9 Lunatic asylum fund. 106, 400 111, 700 111,700 111, 700 111, 700 111,700 111,700 3*1 Cash 5,355 6,317 686 3,485 1,465 3,708 2,902 2,278 4,236 1,350 4,681 597 5,162 1,632 36 2,147 4,170 375 3, no 375 3,333 376 1,903 375 975 375 222 1,255 377 6,080 3S Cash United States bonds 10 1 1 1 5,000 1,080 Cash I 1'' 1 1 1 Cash 1 1 1 i 1 Cash 1 1 661,836 419,154 438,038 512,321 434,209 1,224,388 1,407,662 3,f36 1,404,126 10,941,450 681,896 9,680,731 419,154 9,292,088 436,038 9,280,480 512, 321 9,401,315 434,209 9,350,338 1,224,388 10,259,879 50 Total 3,235,040 2,147 3,241,640 375 3,241,540 375 3,244,640 375 3,245,040 375 3,254,040 376 3,261,200 4,791 5,000 2,670,830 59 *!? United States bonds 54 County bonds 3,760,004 3,861,913 3,663,228 3,659,318 3,530,606 3,186,115 1,753,317 1,753,317 1,753,317 1,753,317 1,753,317 1,603,317 1,603,317 57 '1° 60 Cash 830, 223 444,943 622, 020 743, 765 821,000 2,216,032 3,396,312 ' Not reported. 2 Does not include value of school land not sold from 1902 to 1012. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Productive Funds of Texas: August 31, 1893, to August 31, 1912. TEXAS— Continued. 181 CASH AND SECURITIES ON HAND— Continued . Aug. 31, 1900. Aug. 31, 1901. Aug. 31, 1902. Aug. 31, 1903.1 Aug. 31, 1904. Aug. 31, 1905.1 Aug. 31, 1906. Aug. 31, 1907.1 Aug. 31, 1908. Aug. 31, 1909.1 Aug. 31, 1910. Aug. 31, 19U.1 Aug. 31, 1912. 338,844,158 $12,857,761 828,220,144 $32,756,465 $41,630,337 $55,085,733 $66,579,008 $70,471,884 1 36,084,357 10,228,566 2 25,240,530 31,004,345 39,796,118 62,320,463 63,436,968 67,749,083 o 2, 183, 100 3,915,557 91,547 1,603,317 13,101,331 13,880,153 1,309,352 582,699 2, 184, 100 6, 124, 911 233,538 1,603,317 2,213,500 6,300,747 484,088 3 342,232 15,289,467 2,231,600 7,311,519 868,888 328, 747 20,104,840 2,233,000 7,591,430 1,228,313 312,793 27, 484, 770 2,687,200 7,583,929 3, 112, 362 462,793 38,406,223 2,761,300 7,591,439 4,732,289 491,369 47,809,505 2,772,000 7,049,834 6,544,480 382,752 60,909,287 3 4 6 6 7 s 1,082,700 585,952 610,496 636,904 168, 851 614, 507 946,812 651,583 67,956 652,653 61,066 652,630 ' 90,730 862,882 9 10 579,700 579,700 579, 700 46, 169 593,700 18,722 596,700 61,761 604,400 47,231 607, 100 46,476 603,600 39,022 11 1? 13 2,999 210, 142 6,262 209,834 11,035 210, 887 2,085 214,059 3,122 210,646 1,022 209,116 56 211,387 10,260 207,654 14 15 209,000 1,142 121,023 209,000 834 122,828 209,000 1,887 174,014 209,000 6,059 171,851 209,000 1,646 179,196 209,000 116 179,644 209,000 2,387 176,915 205,000 2,664 175,600 16 17 IS 115,500 115,500 115, 500 49,215 126,500 44,628 126,500 49, 693 126, 500 45,970 133,900 42,297 134,400 36,731 19 ''O ?1 5,523 68,980 7,328 73,128 9,299 172,342 723 176,632 3,003 179,237 7,074 176,329 718 176,296 4,469 176,982 ■>■> ■'3 61,000 61,000 61,000 97,122 14,220 78,268 79,000 95, 775 1,757 74,927 81,000 92,994 5,243 81,686 81,000 81,291 14,038 83,161 100,900 70,626 3,770 78,683 104,300 66,839 5,843 78,607 '4 ?5 7,980 12,689 12,128 13,445 ?6 97 11,200 11,200 11, 200 64,809 13,200 60,635 19,700 68,261 25,200 63,598 34,900 43,683 30,600 38,733 '8 ■jq 30 1,489 118,397 2,245 118,699 2,259 159,753 1,192 160,365 3,725 160,225 4,363 160,850 9,274 160,316 31 160,314 3'> 111,700 111,700 111,700 40, 152 7,901 7,672 119,700 39,549 1,106 4,608 119, 700 35, 434 5,091 5,127 119,700 32, 163 8,987 4,996 129,100 30,996 218 4,995 126,300 30, 896 3,119 5,924 33 34 6,697 2,200 6,999 9,019 ^i) 3fi 1,167 1,033 6,714 1,079 7,940 991 6,681 816 3,693 639 4,488 375 4,620 375 4,620 375 6,549 37 3S 39 40 6,714 41 5,172 5,212 5,722 6,772 4'' 6,000 172 5,000 212 6,000 722 6,000 772 699,318 43 44 45 599, 318 660,747 46 1,636,957 1,496,290 1, 539, 774 335,381 361,347 1,293,410 1,676,198 47 3,402 1,633,558 38,844,158 2,773 1,493,517 12, 857, 761 2,728 1,537,046 28,220,144 1,000 334,381 32, 756, 465 48 361,347 41,630,337 1, 293, 410 55,085,733 1,676,198 66,579,008 660, 747 70,471,884 49 ,10 3,271,200 4,569 3, 272, 200 3,852 3,301,600 3,719 3,372,600 1,815 < 3, 390, 600 639 4 3,858,000 375 <3, 981, 200 375 13,981,200 375 51 ,')•' .W 3,915,557 91,547 1,603,317 13,101,331 13,880,153 5,124,911 233,538 1,603,317 6,300,747 484,088 342, 232 15,686,934 7,311,519 868, 888 328,747 20,364,049 7,691,430 1,228,313 312, 793 27,772,913 7,583,929 3,112,362 462, 793 38, 666, 476 7,591,439 4, 732, 289 491,369 48,042,582 7,049,834 6, 544, 480 382,752 61,120,608 54 55 56 57 58 69 2,976,484 2, 619, 943 2,200,824 • 508,847 1, 333, 649 1, 401, 798 1,739,754 1,392,735 60 3 Does not include valueless railroad bonds from 1902 to 1912. ^ Includes S5, 000 municipal bonds. 182 WEALTH, DEBT, AND TAXATION: Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of TJTAH. CHAKACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Eate of in- terest. AMOUNT OUTSTANDING— Dec. 31, 1893. Dec. 31, 1894. Deo. 31, 1895. Dec. 31, 1896. Dec. 31, 1897. Dec. 31, 1898. Dec. 31, 1899. 1 Total 5821,868 $700,000 $901,435 $1,002,829 $972,200 $932,086 $917,118 Funded debt ?, 700,000 700,000 700,000 900,000 900,000 900,000 900,000 Bonds: Public buildings 1888 1890 1892 1896 1898 1900 1911 1911 1899 1908 1910 1912 1916 1918 1920 1932 1932 1902-09 5 5 5 4 3.5 3.25 4 4 5 ^ 150,000 300,000 250,000 150,000 300,000 250,000 150,000 300,000 250,000 150,000 300,000 250,000 200,000 150,000 300,000 250,000 200,000 4 Public buildings 300,000 250,000 200,000 160,000 300,000 250,000 200,000 150,000 5 n TPnnding a.Tid refnndiTig 7 Eetunding territorialbonds, issue of 1888 Eetundingterritorialbonds, issue of 1890 State roads (series?) R 9 in 11 Special debt obligations to public trast funds: 1? 121,868 201,435 102,829 72,200 32,086 17,118 Warrants 11 121,868 201,435 102,829 72,200 32,086 17,118 NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Utah: December 31, 1893, to November 30, 1912. 183 UTAH. AMOUNT OUTSTANDINO— contiimed. Deo. 31, 1900. Dec. 31, 1901. Dec. 31, 1902. Deo. 31, 1903. Dec. 31, 1904. Dec. 31, 1906. Nov. 30, 1906. Nov. 30, 1907. Nov. 30, 1908. Nov. 30, 1909. Nov. 30, 1910. Nov. 30, 1911. Nov. 30, 1912. $1,026,871 81,014,702 S974,492 $972,837 J968,701 S962,676 $935,891 $912,079 $928,994 $991,820 $1, 186, 108 $1,602,993 $1,429,694 1 1,000,000 1,000,000 950,000 950,000 950,000 926,000 926,000 900,000 900,000 900,000 900,000 1,460,000 1,210,000 2 1 /I 250,000 200,000 150,000 300,000 250,000 200, 000 150,000 300,000, 250,000 200, 000 150,000 300,000 256,666 200,000 150,000 300,000 250,000 200,000 150,000 300,000 250,000 200,000 150,000 300,000 260,000 200, 000 150,000 300,000 250,000 200,000 150,000 300,000 250,000 200,000 150,000 300,000 260,000 200,000 150, 000 300,000 250,000 200,000 150,000 300,000 256,666 200,000 150,000 300, 000 260,000 300,000 1 200,000 160,000 300,000 260,000 300,000 6 7 8 in 100,000 25,871 100,000 14,702 60,000 24,492 60,000 22,837 50,000 18,701 25,000 37,676 25,000 10,891 11 12,079 28,994 91,820 286, 108 142,993 219,694 12 25,871 14,702 24,492 22,837 18,701 37,676 10,891 12,079 28,994 91,820 286, 108 142,993 219,694 13 184 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, B — Detailed Exhibit oe General Treasue'x Cash and the Assets op UTAH— Continued. FUND AND CHAKACTEB OF INVESTMENT. CASH AND SECURITIES ON HAND— Dec. 31, 1893.1 Dec. 31, 1894.1 Dec. 31, 1896.1 Dec. 31, 1896. Dec. 31, 1897. Dec. 31, 1898. Dec. 31, 1899.1 1 Total 6420,960 $485, 145 $615, 1«4 Rnhnnl fimd ? 936 2,672 31,317 1 4 County, municipal, and irrigation district bonds 1 fi 7 Warrants R Cash 936 72, 934 2,672 112,145 31,317 136,963 C) State bonds in 11 Spficin.1 Hp.ht nhlignt'ons tn pnhlin tnist fimrf'? u 35,000 37,600 30,300 27,332 n 66,800 22, 400 22,576 14 School district b6n(fe 11 Ifi 1 17 Cash 1 72,934 11,370 6,831 744 IS Cnnnty a.Tiri Tminiripal hntids 1<) j ?n Schoof district bonds , . . I ?i ?' Warrants 1^ Cash ; 744 ?4 CnnntY and TnnTiip.ipa.1 hnnflt; •"i 1 1 •'fi , 1 '7 1 ?R Cash W Befonn school fund in 1 1 ^0 Mortgages 1 11 Cash 1 11 413 35 Ifi 17 IS Mortgages in 4n Cash 413 16 41 4'> 41 44 Mortgages 4') Cash 16 4fi :i 47 1 4S 4n School district bonds sn •il Cash i 'i'' TnsRTip a.''y]"Tn fnnd , , , 268 =i1 M School district bonds 1'; "ifi Warrants S7 Cash 268 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Productive Funds of Utah: December 31, 1893, to November 30, 1912. 185 UTAH— Continued . CASH AND SECURITIES ON HAND — continued. Dec. 31, 1900. Dec. 31, 1901.1 Dec. 31, 1902. Dec. 31, 1903.1 Dec. 31, 1904. Dec. 31, 1906.1 Nov. 30, 1906. Nov, 30, 1907.1 Nov. 30, 1908. Nov. 3'', 1909.1 Nov. 30, 1910. Nov. 30, 1911.' Nov 30, 1912. 5920,826 $1,291,736 51,706,120 52,090,660 52, 174, 681 S3, 618, 940 54,878,019 ] 164,455 281,869 440,794 660,625 750, 955 1,281,651 1,784,510 25,000 54,072 122.600 80,057 26,000 137,672 142, 600 71,825 635,560 741,680 1,204,394 36.872 91.400 35,896 703,617 560,000 491, 337 14,581 14,975 278,643 c 287 151, 196 140 181,468 63,797 213,389 25,065 236,221 9,275 260,927 77,157 288, 443 r 2,000 50,000 232, 078 259, 720 285,279 If 100,000 50, 000 11 12 6,566 20,600 24,735 7i,766 36,000 23,720 90,666 46, 000 25,334 140,700 67,550 66,237 2,400 1,656 166,934 13 1^ 361 6,088 48 32, 670 66 62,338 4,143 91,205 1,207 118,082 3,164 163,232 17 IS 1,000 1,000 3,820 1,000 15,800 15,767 17,000 20,000 16,946 86,304 114,673 156, 935 f 98,746 23, 900 38,361 2,450 2,477 98,207 11 '^n *>! 90 268 148 103 13, 625 9,392 27,602 4,901 41, 619 3,509 59,542 6,297 91,676 9^ "•■t 8,000 2,300 3,270 55 22, 612 11,000 6,200 9,140 1,262 47,528 ■ 40,356 1,263 66,228 59,536 6 92,686 83,266 8,420 124,566 ( 33,546 \ 41,350 [ 22,925 386 124,668 ''■l 100 48 6,528 OH "1 1,500 2,400 2,464 164 5,483 9,600 10,000 2,814 298 25,864 20,000 10,500 6,776 10,252 43,821 64, 674 1,554 59,307 89,227 3,469 79,366 118,402 6,154 119,536 84,200 24,000 14, 223 2,245 96,744 1(1 ^1 l*^ "3 ?1 1,000 16,500 10,300 15,022 49,800 74, 301 110.656 3*1 10,000 9,300 6,078 49,600 • 17,100 26,030 4,000 114 94,210 36 3,000 2,091 38 39 392 2,587 486 8,739 999 32,620 9,607 46,846 5,065 63, 018 8,881 104,378 'in -11 6,000 6,600 9,910 11,210 36,289 46,100 746 58,074 61,466 1,552 80,672 103,307 1,071 109,722 38,800 38,600 16,327 583 117,840 ^'> 2,000 260 327 3,441 2,500 6,185 64 14,867 43 44 '16 1,000 14,000 12,300 8,902 87 38, 622 [ 57,872 202 67, 120 79,670 902 82,711 103,382 6,340 118, 012 f ■17 1.000 1,500 595 346 4,188 7,000 2,000 6,766 101 20,820 1 69,070 1 32,550 I 16,081 139 125,171 48 4' ■"0 'il 'i'' 1,500 3,500 7,250 10,059 10,760 10,760 17,027 53,256 80,697 114,055 ( 48,450 { 30,150 [ 40,265 6,400 906 ■13 64 2,315 66 66 373 ii 95 ' 3,864 2,6i4 3,957 67 186 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH,. B — Detailed Exhibit of General Treasury Cash and the Assets of "UTAH— Continued. FUND AND CHARACTEE OF INVESTMENT. CASH AND SECURITIES ON HAND— Dec. 31, 1893.1 Dec. 31, 1894.1 Dec. 31, 1895.1 Deo. 31, 1898. Deo. 31, 1897. Dec' 31, 1898. Dec. 31, 1899.1 1 J24 •> 3 4 "^ 6 7 Cash 24 S q in 11 Cash 1? 312 n 14 Ti ^f\ Cash 312 17 IS , If ''0 91 Warrants 09 Cash 9^ $347,080 1370,428 445,107 Cash . . ''4 347,080 420,950 370,428 485,145 445, 107 615, 164 ?■; Total . . ■>(! . 07 35,000 37,500 30,300 27,332 *>*> County municipal and irrigation district bonds 55,800 22,400 22, 575 in ^9 Warrants 33 Cash 420,950 384,370 485,032 1 Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Productive Funds of Utah: December 31, 1893, to November 30, 1912— Continued. TJTAH— Conlinued. 187 CASH AND SECURITIES ON HAND — Continued. Deo. 31, 1900. Dec. 31, 1901.1 Deo. 31, 1902. Dec. 31, 1903,1 Deo, 31, 1904. Deo. 31, 1906.1 Nov, 30, 1906. Nov. 30, 1907.1 Nov, 30, 1908. Nov. 30, 1909.1 Nov. 30, 1910. Nov. 30, 1911.1 Nov. 30, 1912. $3, 181 $9,060 $18,756 $28,095 $40,658 $56,306 $88,266 1 1,000 2,000 2,000 13,660 22,295 39,374 61,086 ? 2,000 2,600 4,462 1 68,480 8,460 8,700 2,400 236 30,000 ^ 2,600 300 4 fi 381 98 196 50,000 6,800 73,787 1,284 99,742 4,221 189,742 7 H 10,000 89,260 492 183,751 10,000 139,260 40,492 178,003 9 24,250 25,750 175,946 64,260 9,637 267,677 10 30,000 187,836 11 20, 100 81,662 12 11,500 ■ . 6,000 3,356 244 3,801 55,500 13,100 12,896 166 10, 349 106,700 40,860 8,368 20,038 17,979 • 262,969 4,708 24,560 182,324 1,427 34,165 177,991 12 69,296 ( 2,000 { 4,000 I 179-100 2^736 81,389 n 14 11 16 17 500 1,500 16,945 [ 20,973 34,030 68, 210 9,200 13,600 52,392 6,650 547 1,604,701 IS 1,700 1,950 1,600 8,789 1Q •>D '>1 151 649,630 60 588,131 34 500,436 3,587 479,296 135 228,606 1,086 735,487 90 ''1 549,630 920,826 688,131 1,291,736 500,436 1,706,120 479,296 2 2,090,660 228,606 2,174,681 735,487 3,618,940 1,604,701 4,878,019 ■>'1 ''5 26,000 50,000 30,000 60,000 1,536,487 1,916,848 2,716,201 •'R 100,000 V7 ot^ 58,872 131,200 77,782 222,272 224,850 179,863 432,022 332,760 217,745 1,346,309 861, 160 971,978 36,881 1,661,701 29 10 31 T> 652,972 589, 751 643,603 654,173 268,833 902, 739 31 2 Only total investments given in the various funds for 1906, 1908, and 1910, except for "redemption fund," for which securities are published. 188 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OP INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness op VERMONT. CHAKACTEK AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Rate of in- terest. AMOUNT OUTSTANDING — June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. Jun 30, 1899. June 30, 1900. 1' Total S361,014 t386,014 8411,014 $531,014 $506,014 $691,014 $361,014 Funded debt 7. 346, 631 346,631 346, 631 346,631 346, 631 346,631 346,631 Special debt obligations to public trust funds: Agricultural college fund 1888 1884 1910 1912 1910 Perpetual. 1912 1932 6 6 5 6 R 135,500 211, 131 135,500 211,131 135,500 211,131 135,500 211,131 135,500 211,131 135,500 211,131 135,500 211,131 4 Huntington fund 5 Agricultural college fund fi Agricultural college fund 7 Floating debt 14,383 39,383 64,383 184,383 159,383 344,383 14,383 8 14,383 14,383 25,000 14,383 50,000 14,383 170,000 14,383 146,000 14,383 330,000 14,383 q in W arrants B — Detailed Exhibit of General Treasury Cash and the Assets op' FUND AND CHARACTER OF INVESTMENT. CASH AND SECURITIES ON HAND — June 30, 1894. June 30, 1895. June 30, 1896. June 30, 1897. June 30, 1898. June 30, 1899. June 30, 1900. ' 1 Total $695,708 $530,843 $561,152 $418,810 $489,128 $485,329 $468,858 Agrifmltnral f»nlle£fi ftiTirt , , 2 135,500 135,500 135,500 135,500 135,500 135,500 135,500 „ Special debt obligations to public trust funds . . 3 135,500 215, 131 135,500 215,131 135,500 215,131 135, 500 215,131 135, 500 215,131 135,500 215,131 135,500 ! 215, 131 4 5 211,131 4,000 1,065 211, 131 4,000 1,065 211, 131 4,000 1,065 211,131 4,000 1,065 211,131 4,000 1,065 211,131 4,000 1,065 211,131 4,000 1,065 ; 6 7 ■RfiTiniTi^nn Ttfl.tt.lft MnTmrpflTit, fuTiH Tla.TlTr Hfipnsit, 8 1,065 14,383 1,065 14,383 1,065 14,383 1,065 14,383 1,065 14,383 1,065 14,383 1,0C5 14,383 9 Cash 10 14,383 14,383 14,383 14,383 14,383 14,383 14,383 11 Permanent school fund 12 13 City bonds , 14 United States deposit due from towns, etc 16 16 "Bfl-Tiif deipopit 17 Cash 18 329,629 164,764 195,073 62,731 123,049 119, 250 102,779 Cash ... . 19 329,629 695, 708 164,764 530,843 196,073 561,152 52,731 418, 810 123,049 489, 128 119,250 485,329 102,779 468,858 20 Total . .... 21 346,631 4,000 1,065 346, 631 4,000 1,065 346,631 4,000 1,065 346,631 4,000 1,065 346,631 4,000 1,065 346,631 4,000 1,065 346,631 4,000 1,065 7!?, Other securities 23 24 Other state bonds 25 City bonds Wi United States deposits due from towns ?7 Cash . .. . 344,012 179,147 209, 456 67,114 137,432 133, 633 117,162 1 Transferred to "permanent school fund." NATIONAL AND STATE INDEBTEDNESS. 189 AND THE ASSETS OF PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Vermont: June 30, 1894, to June 30, 1913. VERMONT. AMOUNT OUTSTANDING— continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, 1907. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. S463. 178 S391, 816 S362, 946 8358,950 $554,311 S404, 148 $354,192 5353,369 $361, 180 $365,960 8361,939 $366,951 $669,906 34B, 631 346,031 346, 631 346,631 346,631 346,631 340,631 346,631 316,631 346,031 346,631 346, 031 346, 631 135,500 211,131 135,500 211,131 135,500 211, 131 135,600 211,131 136,500 211,131 135,500 211,131 136,500 211, 131 136,. 500 211, 131 135.500 211, 131 211,131 136,600 211,131 135, .600 211,131 211,131 136,600 20, 320 135,500 223, 275 ( 106,547 45,185 16,315 12,319 207,680 67,617 7,561 6,738 4,649 9,329 15,308 6,517 100,000 2,702 2,702 10,000 3,613 2,702 2,702 200,000 4,978 2,702 50,000 4,816 1 200,000 23,275 < 42,483 9,617 7,601 0,738 4,649 9,329 15, 308 20,320 ] Productive Funds of Vermont: June 30, 1894, to June 30, 1913. CASH AND SECURITIES ON H.AND— Continued. June 30, 1901. June 30, 1902. June 30, 1903. June 30, 1904. June 30, 1905. June 30, 1906. June 30, - 1907. June 30, 1908. June 30, 1909. June 30, 1910. June 30, 1911. June 30, 1912. June 30, 1913. $453,256 $676,665 $736, 122 $760,259 $1,003,410 $973,019 $1,618,530 $1,768,983 $1,711,914 $1,834,455 $1,791,402 136,600 $1,747,931 135,500 $1,562,498 136,600 1 135,500 135,500 135, 500 136,500 135,500 136,600 136,600 135,500 135,500 135, 500 2 135, 500 215, 131 135,500 215,131 135,500 211,131 135,600 211,131 135,500 211,131 135,600 211,131 135,600 135,500 135,600 135,600 136,500 135,600 136, 500 3 4 211,131 4,000 1,065 211,131 4,000 1,065 211,131 211,131 211,131 211,131 5 r 1,065 1,065 1,065 1,065 1,065 1,066 1,006 1,065 1,065 1,005 1,066 7 1,065 6,547 1,065 2,702 1,065 2,702 1,065 2,702 1,065 2,702 1,065 2,702 1,065 (■) 1,065 1,066 1,065 1,065 1,066 1,065 8 q 6,547 2,702 2,702 2,702 2,702 240,000 2,702 230,768 If 1, 155, 178 1,166,622 1,169,823 1,170,818 1,171,914 1,170,404 1, 171, 328 11 100, 000 130,000 100, 000 130,000 656, 763 211, 131 110,000 366,000 433,218 211, 131 5,835 51,438 465,798 110,000 386,000 394, 924 211,131 5,835 62,933 405,526 110, 000 400, 000 379, 596 211,131 6,835 64,257 527,072 130, 000 400, 000 341, 729 211, 131 6,835 83,219 482,923 130,000 436,000 310,011 211,131 5,835 78,427 440,962 130,000 480,000 285,964 211, 131 5,835 58,398 254,605 1^ 11 14 1 = 240,000 768 If 157,294 326,787 1" 95,013 322,267 385,724 409,881 413,012 391,853 IS 95,013 453,256 322,267 676,665 385,724 730,122 409,861 760,259 413,012 1,003,410 391,853 973, 019 326, 787 1,618,530 486, 796 1,768,983 405,528 1,711,914 527,072 1,834,455 482,923 1,791,402 440,962 1,747,931 254,605 1,662; 498 IE 2C 346,631 4,000 1,065 346,631 4,000 1,065 346,631 346,631 346,631 346, 631 346,631 346, 631 346,631 346,631 346,631 346,631 346,631 21 1,065 1,065 241,065 1,833 100, 000 130,000 1,065 100,000 130, 000 556,753 484,081 6,900 110,000 3.56,000 433,218 517, 234 6,900 110,000 386,000 394,924 468,459 6,900 110, 000 400,000 379,595 591,329 6,900 130,000 400, 000 341,729 566, 142 6,900 130, 000 4.35,000 310,011 619,389 6,900 .130.000 480,000 286, 964 313, 003 2: ^i 101,560 324,969 388,426 4i2,563 415,714 394,555 2- 190 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit op the Indebtedness of VIRGINIA. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of maturity. Rate of in- terest. AMOUNT OUTSTANDING — Sept. 30, 1893. Sept. .TO, 1894. Sept. 30, 1895. Sept. 30, 1896. Sept. 30, 1897. Sept. 30, Sept. 30, 1899. Total. Funded debt.. Bonds: Public improvements (dollar bonds) Public improvements (sterling bonds) Refunding (consols) Refunding ( Peeler bonds) Refunding (ten-forty bonds) Refunding ( Riddleberger bonds) . . .-. Refunding (century bonds) Special debt obligations to private schools and colleges. Special debt obligations to public trust funds: Virginia Agricultural and Mechanical Col- lege fund. Hampton Normal and Agricultural Insti- tute fund. Dawson fund University of Virginia fund Virginia Military Institute fund Miller Manual Labor School fund ■ Prior \ to 1861/ (' Prior \ \tol86l/ 1871 1871-72 1S79 1882-84 1892 1892-94 1877 1877 1892 1892 1892 1892 (') 1932 1991 Option. (') (') Floating debt. Matured interest Outstanding warrants. m m m (.') m 3 3 4&6 6 6 6 6 C, S30,339,639 «29, 273, 403 $29, 126, 210 828,998,678 ?28,990,721 828,957,480 528,909,192 27, 617. .569 27.441,710 27, .501,9.58 27,416,192 27, 416, 103 27,41»,389 27, 420, 275 723, 939 .56,010 757, 143 336, 471 312, 000 6,330,787 16,641,363 695, 732 344,312 172, 166 34, 188 148,000 20,000 1, 044, 868 2,722,070 16, 720 597, 101 35,408 103, 800 6,330,787 17,373,243 702, 332 344,312 172, 156 34, 188 148.600 20,000 1,044,868 1,8,31,753 617,024 16, 720 384, 766 35,208 74,600 6,331,681 17,675,703 702, 332 344,312 172, 166 34, 188 148, (iOO 20,000 1,044,868 1,624,252 614, .304 16,720 107,020 34, 305 30, 400 6,328,769 17,918,168 702,332 344,312 172, 156 34,188 148,000 20,000 1,044,868 1,682,386 613,904 16,720 106, 782 34, 366 30, 400 6, 328, 759 17,919,717 702,332 344,312 172, 156 34,188 148,000 20,000 1,044,868 1, .574, 618 603, 824 16, 720 90, 693 34,365 27,400 0,328,759 17,951,172 702, 332 172, 150 34,188 148, 600 20,000 1,044,808 1,538,091 2,722,070 1,831,763 1,624,262 1,582,386 1,574,618 1, ,538, 091 503, 824 16, 720 60, 760 19,477 27,400 0,329,554 18,002,084 702,332 172, 166 34,188 148,000 20,000 1,044,868 1,482,917 1,482,917 *Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. Virginia: September 30, 1893 to September 30, 1912. virginia. 191 AMOUNT OUTSTANDING— continued. Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1906. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. $28,905,681 $28,868,766 $27,108,713 $27,156,654 $27,234,083 $25,888,105 $25,696,156 125,545,064 825,331,071 $25,173,905 $25,218,606 $24,969,004 $24,654,851 1 27,427,584 27,431,530 27,044,310 27,042,990 27,048,265 25,731,385 25,689,158 25,447,332 25,243,575 26,170,432 26,092,941 24,873,606 24,662,650 2 603,157 600,491 112, 624 112,624 112,624 112,624 112,384 112,384 111,934 111,934 111,864 111,864 111,864 3 16,720 16,720 16,720 16,720 16,720 16,720 16,720 16,720 16,720 16,720 16,720 16,720 13,363 4 57,670 19, 464 27, 400 6,329,564 18,007,163 702,332 65,720 5,619 26,800 6,329,654 18,030,270 702,332 62,940 6,519 21,200 6,329,654 18,039,297 702,332 49,936 5,442 16,200 6,329,664 18,047,058 702,332 43,579 5,442 15,200 6,329.554 18,058,690 702,332 43,579 5,442 15,200 5,984,364 17,087,010 702,332 38,721 6,442 15,200 5,945,954 16,988,279 702,332 38,721 6,442 14, 100 6,927,464 16,866,055 702,332 37,657 5,329 13,000 6,863,964 16,737,376 703, 482 36,716 6,303 12,800 6,853,954 16,665,399 703, 482 36,j665 6,003 12,800 5,775,954 16,666,329 703,482 35,188 5,003 12,800 6,695,854 16,528,570 703,482 34,468 6,003 12,800 5,594,554 16,322,902 703,482 5 6 7 8 ig 344,312 344,312 344,312 344,312 344,312 344,312 344,312 344,312 344,312 344,312 344,312 344,312 344,312 11 172,166 172,156 172,156 172,156 172,166 172,166 172,156 172,156 172,156 172,156 172,156 172, 156 172,156 ■12 34,188 148,600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 34,188 148, 600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 34,188 148, 600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 34,188 148, 600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 34,188 148,600 20,000 1,044,868 13 14 16 16 1,478,097 1,437,236 64,403 113,664 185,818 156,720 107,000 97,732 87,496 3,473 125,665 86,399 92,301 17 1, 478, 097 1,437,236 18 64,403 113,664 185,818 166,720 107,000 97,732 87, 496 3,473 125,665 85,399 92,301 19 2 Interest ceased, this debt being fundable into century bonds. 192 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, B — Detailed Exhibit of General Theasuky Cash and the Assets of VIROINIA— Continued. FUND AND CHAKACTER OF INVESTMENT. CASH AND SECURITIES ON 'hand— Sept. 30, 1893. Sept. 30, 1894. Sept, 30, 1896. Sept. 30, 1896. Sept, 30, 1897. Sept. 30, tsas. Sept. 30, 1899. 1 Total 37,641,692 $7,601,547 17,617,627 $7,632,430 $7,691,974 $7,687,719 $8,239,494 2 2,923,228 3,282,909 3,316,832 3,012,263 3,042,596 3,076,961 3,223,820 Virginia bonds 3 337,000 2,026,439 20,000 625,620 273,950 2,378,280 337,000 2,026,439 20,000 626,520 306,873 2,444,077 114,000 2,026,439 20,000 625,520 437,861 2,629,931 4 West Virginia certificates 2,026,439 20,000 626,520 251, 269 2,234,051 2,026,439 20,000 625,520 340,304 2,503,730 2,026,439 20,000 625, 520 370,637 2,569,050 2,026,439 20,000 625,520 405,002 2,597,776 5 6 7 Riclfmiond, Fredericksburg & Potomac R. R. stocks and obligations. . Cash 8 T.itRrnry fnnrl... 9 1,419,327 719,023 400 1,451,827 719,023 400 1,461,827 719,023 400 1,506,627 719,023 1,569,927 719,023 1, 623, 127 719,023 1,666,627 719,023 in West Virginia certificates 11 Municipal bonds 1? 13 2,000 60,000 2,000 50,000 2,000 60,000 14 50,000 50,000 60,000 50,00" 15 Ifi Cash 43,301 35,588 155,030 35,588 210,827 35,588 228,080 35,588 220, 100 35,688 205,626 35,688 204,281 35,588 17 T>awi 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 '"[ Virginia Agrip.nltniral flnrl IVTpp.hanicfll Cnllfige fnnH ■"i 344,312 172, 156 344,312 172, 166 344,312 172, 156 344,312 172,166 344,312 172, 166 344,312 172, 166 344,312 172,156 ''6 Special debt obhgations to pubhc trust funds . 97 172,156 1,070,097 172, 156 1,067,911 172,166 1,064,887 172,156 1,062,769 172,156 1,063,832 172,166 1,050,267 172,166 1,065,139 "JS 9q ?0 Special debt obligations to public trust funds - 1,044,868 1,044,868 1,044,868 1,044,868 1,044,868 1,044,868 1,044,868 31 ifunicipal bonds T> Virginia Agricultural and Mechanical College and Polytechnic Institute 26,229 23,043 20,019 17,901 8,964 6,399 10,271 31 Retired teachers' fund 1'i 1 Sfi 37 Cash 39 General and special funds 693, 660 151,791 72, 176 233,012 215, 840 242,069 609,948 693,660 7,641,692 151, 791 7,601,547 72, 175 7, 617, 627 233,012 7,532,430 215, 840 7,591,974 242,069 7,687,719 609,948 8,239,494 in 1,420,727 1,764,124 2,745,462 400 20,000 1,790,227 1,764,124 2,746,462 400 20,000 1,800,227 1,764,124 2,745,462 400 20,000 1,508,027 1, 764, 124 2,745,462 1,571,327 1,764,124 2, 745, 462 1,624,627 1,764,124 2,746,462 1,772,027 1,764,124 2,745,462 13 15 Virginia Military Institute bonds 20,000 20,000 20,000 20,000 16 Virginia Agricultural and Mechanical College and Polytechnic Institute building bonds. Loan to Washington College 17 2,000 50,000 625,520 2,000 60,000 625,520 2,000 60,000 626,620 ^c 50,000 626,620 50,000 625,520 50,000 625,620 50,000 625,620 5n 01 Bonds for money loaned to school districts go Cash 1,013,459 603,814 609, 894 819,297 815, 641 868,086 1,262,361 NATION AI; AND STATE INDEBTEDNESS.* AND THE ASSETS OP PRODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. 193 Productive Funds of Virginia: September 30, 1893, to September 30, 1912. VIKGINIA— Continued. CASH AND SECUKITIES ON HAND— Continued . Sept. 30, 1900. Sept. 30, 1901. Sept. 30, 1902. Sept. 30, 1903. Sept. 30, 1904. Sept. 30, 1905. Sept. 30, 1906. Sept. 30, 1907. Sept. 30, 1908. Sept. 30, 1909. Sept. 30, 1910. Sept. 30, 1911. Sept. 30, 1912. 88,662,823 $9,106,410 $9,343,814 S9, 077, 091 $9,316,089 $8,211,578 $8,148,504 $8,400,482 $8,345,219 $8,149,823 $8,118,673 $8,356,681 $8^379,175 3,396,780 3,764,704 3,643,940 3,682,107 3,749,996 2,615,661 2,495,674 2,494,475 2,611,409 i*, 612, 106 2,612,997 2,612,395 2,611,706 676,000 2,026,439 1,111,500 2,026,439 1,111,600 2,026,439 1,111,500 2,026,439 1,111,500 2,028,439 2,026,439 2,026,439 2,026,439 2,026,439 2,026,439 131 2,026,439 733 2,026,439 189 2,026,439 625,520 68,821 2,653,259 625,620 1,245 2,681,996 467,900 38, 101 2,716,974 467,900 76,268 2,762,874 467,900 144,156 2,615,698 467,900 21,312 2,669,637 467,900 1,335 467,900 136 2,807,938 684,900 70 2,905,944 684,900 767 2,983,001 684,900 1,627 3,070,705 584,900 323 3,138,213 584,900 178 3,289,256 1,678,727 719,023 1,710,227 719,023 1,747,627 719,023 1,783,827 719,023 1,833,027 719,023 1,881,027 719,023 1,946,127 719,023 1,960,127 719, 023 12,000 1,875,827 719, 023 12,000 1,803,427 719,023 12,000 1,803,427 719,023 12,000 1,762,827 719,023 12,000 1,762,827 719,023 12,000 6,500 60,000 '205,569 50,000 50,000 50.000 50,000 50,000 50,000 202, 746 35,588 200,424 35,688 210,024 13,648 35,588 19,587 35,588 5,960 35, 588 93,502 33,286 35,588 254,451 44,643 35,588 406,549 42,002 492,873 43,382 608,773 35,590 35,588 678,976 109,930 35,588 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 1,400 34,188 148,600 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 148,600 20,000 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344,312 20,000 344, 312 20,000 344,312 20,000 344, 312 20,000 344,312 20,000 344,312 172,156 344,312 172, 156 344,312 172,156 344,312 172, 156 344,312 172, 156 344,312 172,156 344,312 172,156 344,312 172,156 172, 156 344,312 172,156 344,312 172, 156 344,312 172,156 344,312 172,156 172, 156 1,060,909 172,156 1,069,885 172,156 1,496,971 172, 156 1,489,928 172,166 1,473,762 172,156 1,477,412 172, 156 1,482,649 1,464,707 172, 156 1,463,005 172,156 172,156 1,462,591 1,044,8 16,041 1,044,868 25,017 354,100 1,044,868 2,000 70,000 26,003 354, 100 1,044,868 2,000 70,000 18,960 354, 100 1,044,868 2,000 70,000 2,794 354, 100 1,044,868 2,000 70,000 6,444 354, 100 1,044,868 2,000 70,000 11,681 51,900 1,044,868 ♦282,000 70,000 15,939 1,044,868 332,000 16,137 5,000 1,044,868 332,000 70,000 13,743 18, 175 1,044,868 332,000 70,000 18, 710 24, 122 1,044,868 331,300 70,000 18,246 68,009 1,044,868 331,300 70,000 16,423 831,219 869, 169 421,526 755,978 828,222 728,415 912,706 639,205 18,175 355,274 24,122 224,615 60,000 700 17,309 352,994 50,000 700 13,073 231,193 831, 219 8,662,823 869, 169 9,106,410 9,343,814 421,526 9,077,091 766,978 9,316,089 828,222 8, 211, 578 728,415 8,148,504 912,706 8,400,482 639,205 8,345,219 355, 274 ;, 149, 823 224,615 8,118,673 352,994 8,356,681 231,193 8,379,175 2,356,127 1,764,124 2,745,462 2, 823, 127 1, 764, 124 2, 745, 462 3, 214, 527 1,764,124 2,745,462 2,000 3,250,827 1,764,124 2,745,462 2,000 3,300,027 1, 764, 124 2,745,462 2,000 2,236,627 1,764,124 2,745,462 2,000 2,301,627 1, 764, 124 2,745,462 2,000 2,003,427 1,764,124 2,745,462 294,000 1,877,227 1, 764, 124 2,745,462 344,000 1,804,827 1,764,124 2,745,462 344,000 1,804,958 1,764,124 2,745,462 344,000 1,814,960 1,764, la 2,745,462 344,000 1,814,416 1,764,124 2,745,462 344,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 70,000 50,000 625,520 1,121,590 50,000 625,520 50,000 467, 900 50,000 467, 900 50,000 467,900 50,000 467,900 50,000 467,900 584,900 684,900 584,900 584,900 1,098,177 1,029,801 916, 576 875, 565 747,391 93, 502 962,067 254, 451 705,055 406, 549 429, 961 492,873 312, 356 608, 773 424,462 28652°— 14- -13 584,900 6,500 678,976 370,797 194 WEALTH, DEBT, AND TAXATION. Table I,— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness of "WASHINOTON. CHAKACTER AND PUEPOSE OF ISSUE. Year of issue. Year of maturity. Bate of in- terest. AMOUNT OUTSTANDING— Oct. 31, 1893.1 Oct. 31, 1894. Oct. 31, 1895.' Oct. 31, 1896. Oct. 31, 1897.' Oct. 31, 1898. Sept. 30, 1899.' 1 Total 81,404,741 82,185,039 81,705,969 Funded debt 7. 300,000 300,000 260,000 Bonds: Funded territorial debt 1890 1911 1909 1899 1906 1923 1914-24 3.5 4 3 3.5 .1 Pciftntiflf^ s9l in 11 Cash 32 128,542 427,063 Cash 11 128,542 823,390 427,063 1.209,479 14 Total IR 1ft County bonds 478,000 69,500 639,000 17 Schoofdistrict bonds 38 39 Cash . 275,890 670, 479 ' Not reported. NATIONAL AND STATE INDEBTEDNESS. AND THE ASSETS OP PEODUCTIVE FUNDS OF STATES: 1893 TO 1913— Continued. 195 Washington: October 31, 1893, to Sbptkmbbr 30, 1912. •WASHINGTON. AMOUNT OUTSTANDING — Continued. Sept. 30, 1900. Sept. 30, noi.i Sept. 30, 1902. Sept. 30, 1903.> Sept. 30, 1904. Sept. 30, 1905.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30, 1908. Sept. 30, 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30. 1912. $1,543,919 $1,271,391 $1,194,362 $1,390,403 $1,298,160 $1,132,175 $1,666,012 1 820,000 1,225,000 1,165,000 1,340,000 1,200,000 1,006,024 331,024 ? 155,000 60,000 • 1 125,000 206,024 4 206,024 800,000 126,151 a 665,000 723,919 1,165,000 46,391 1,165,000 29,362 1,340,000 60,403 1,200,000 98,150 n 1,224,988 7 723,919 46,391 29,362 60,403 98,160 126, 151 227, 600 634,646 462,742 8 « 10 Pboductive Funds op Washington: October 31, 1893, to September 30, 1912. CASH AND SECURITIES ON HAND— continued. Sept. 30, 1900. Sept.30, Sept. 30, 1902. Sept. 30, 1903.1 Sept. 30, 1904. Sept. 30, 1905.1 Sept. 30, 1906. Sept. 30, 1907.1 Sept. 30. 1908. Sept. 30. 1909.1 Sept. 30, 1910. Sept. 30, 1911.1 Sept. 30, 1912. $1,710,951 $2,506,178 $3,567,692 $4,610,095 $6,172,306 $9,372,187 $12,116,389 1 1,295,759 1,914,127 2,987,631 3,685,769 5,187,900 7,460,439 8,964,667 ? 665,000 636,000 83,950 1,165,000 219,000 210,104 1,165,000 362,000 476,735 639,900 443,996 1,340,000 520,600 740, 135 1,001,900 83,234 33,890 1,200,000 417,000 1,553,590 1,717,400 299,910 113,880 800,000 497,000 3,257,205 2,826,666 79,568 147,977 1 637,000 4,811,840 3,137,466 478,361 173,529 4 •i A 16,809 320,023 7 8 107,600 6,000 230 166,739 134, 726 11,000 2,252 226,499 155,635 17,000 994 270,826 q in 33,890 55, 885 11 1? 60,000 78,500 29,000 9,239 59,748 50,000 129,000 46,000 1,499 103,290 50,000 174,860 44,000 1,976 164,607 11 14 15 55,885 13, 399 1(\ 17 68,560 97,300 2,600 3,490 196,619 166,660 2,500 5,467 261,579 ID 19 13, 399 49,840 1,198 110,000 70 21 73,800 21,600 14,700 61,624 147,700 46,000 2,919 81,380 194,650 55,500 1,529 94,811 w ?3 49,840 38, 110 ?4 25 60,900 724 81,260 130 94,260 561 689,184 'fi 38, 110 27 28 151,600 87,600 350,184 1,607,186 29 30 31 415,192 692,061 670,061 733,202 482,415 1,156,983 32 415,192 1,710,961 592,061 2,506,178 570,061 3,657,692 733,202 4,610,095 482,415 6,172,306 1,165,983 9,372,187 1,607,186 12,116,389 33 34 665,000 536,000 83,950 1,165,000 219,000 210, 104 1,165,000 362,000 476, 735 639,900 1,014,067 1,340,000 520, 600 740, 135 1,001,900 1,007,660 1,200,000 467,000 1,922,940 1,773,900 808,466 800,000 647,000 3,847,180 2,932,168 1,246,841 35 687,000 6,739,175 3,343,966 2,446,248 36 37 38 426,001 912,074 39 2 Redeemable at option of state within 20 years from date of issue. 196 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op WEST VIRGINIA. CHAEACTEK AND PURPOSE OP ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING — Sept. 30, 1893. Sept. 30, 1894. Sept. 30, Sept. 30, 1896.1 Sept. 30, 1897.1 Sept. 30, '&.f' 1 Total $50,000 $2,383 Floating debt ?. 60,000 2,383 Temporary loans from school fund for general purposes. 3 50,000 4 2,383 B — Det.mled Exhibit op General Treasury Cash and the Assets op FUND AND CHAKACTEK OF INVESTMENT. CASH AND SECURITIES ON HAND— Sept. 30, 1893. Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1896. Sept. 30, 1897. Sept. 30, 1898. Sept. 30, 1899. 1 Total $1,065,365 $1,205,468 $1,365,084 $1,404,530 $1,435,039 $1,719,660 $1,641,912 Sn.hnnl fnTiH ? 732,705 764,646 797,464 838,472 871,462 927,993 973,312 West Virginia temporary loans 3 50,000 92,000 50,000 94,500 89,500 120,000 4 United States bonds 92,000 50,000 125,400 94,600 120,000 92,000 50,000 119,800 99,600 120,000 75,000 150,000 117,700 114,500 120,000 65,000 150,000 111,900 193,500 120,000 26,666 175,600 116,300 203,000 120,000 5 ■ 125,600 111,700 149,600 120,000 fi 7 School district bonds 8 9 in T,o«.Ti to ITlstltntlOTlS 22,000 219,062 563,577 22,666 271,193 791,667 16,000 460,612 668,600 11 Cash 236,705 332,660 282, 746 440,822 316,064 567,620 261,272 566,058 1? Cash 1:1 332,660 1,065,365 440,822 1,205,468 567,620 1,365,084 566,058 1,404,530 563,577 1,435,039 791,667 1,719,660 668,600 1,641,912 14 Total West Virginia temporary loans 1'i 50,000 92,000 50,000 94,500 89,500 120,000 16 92,000 50,000 126,400 94,500 120,000 92,000 50,000 119,800 99,600 120,000 75,000 160,000 117,700 114,500 120,000 65,000 150,000 111,900 193,500 120,000 20,000 176,500 116,300 203,000 120,000 17 125,500 111,700 149,600 120,000 18 19 School ! •>i 1,317,244 2,864 116,380 3,965 1,364,608 2,511 69,819 4,790 1,423,990 1,949 4,766 1,417,613 1,219 20,572 1,439,432 947 1,160 1,440,589 575 700 1,434,779 524 6,951 1,385,099 410 56,746 9^ O^ 2f 828 3,137 676 4,114 v 31,240 71,675 81,861 90,006 129,494 142,104 21 28,900 2,340 62,950 8,725 81,640 211 85,850 4,156 129,236 269 133,387 8,717 3( ?1 26,905 27,459 3! 26,905 733,064 27,459 634,997 950,264 1,618,320 1,720,658 1,509,760 3,088,096 1,758,100 3; 3' 733,054 6,806,667 634,997 6,730,327 960,264 7,106,862 1,618,320 7,904,875 1,720,658 8,141,423 1,609,760 8,064,177 3,088,096 9,829,611 1,768,100 8,576,956 V 2,251,000 2,251,000 2,261,000 2,261,000 2,251,000 2,251,000 2,261,000 2,251,000 ■>. 3,540,769 64,689 950,209 ■i 3,602,834 64,003 822,490 3,777,041 64, 638 1,014,173 3,904,024 90,926 1,668,925 4,062,610 99,859 1,728,048 4, 153, 357 99,832 1,569,988 4,279,066 138,032 3,161,613 4,269,728 141,337 1,924,891 ?f 200 WEALTH, DEBT, AND TAXATION. Table I.— DETAILED EXHIBIT OF INDEBTEDNESS, GENERAL TREASURY CASH, A — Detailed Exhibit of the Indebtedness op WYOMING. CHARACTER AND PURPOSE OF ISSUE. Year of issue. Year of ma- turity. Rate of in- terest. AMOUNT OUTSTANDING — Sept. 30, 1893. Sept. 30, 1894. Sept. 30, 1895. Sept. 30, 1896. Sept. 30, 1897. Sept. 30, 1898. Sept. 30, 1899.1 1 Total 1328,837 S326, 127 $322,445 $327,930 $344,061 $325,128 Funded debt. 320,000 320,000 320,000 320,000 320,000 320, 000 Bonds: Capitol buildiag 1886 1886 1886 1888 1911 1911 1921 1928 6 6 6 6 •^ 150,000 60,000 30,000 90,000 8,837 150,000 50,000 30,000 90,000 6,127 150,000 50,000 30,000 90,000 2,445 150,000 60,000 30, 000 90,000 7,930 160,000 50,000 30,000 90,000 24,061 150,000 50,000 30,000 90,000 6,128 4 i; fi Public buildings . WftTTaTlt.