Page:The New International Encyclopædia 1st ed. v. 14.djvu/148

* MTJNICIPAL DEBTS. 116 MUNICIPAL DEBTS. 1 of Europe tlu'ie is suiiie central control of debts in at least Prussia ami France. The nearest ap- proach to central control of loans in tlic United •States is found in Massachusetts, but its exercise is due primarily to sanitary rather than financial safeguards. Legislative permission to make water-supply and sewerage improvements is sel- dom if ever granted in Massachusetts unless the plans for the proposed work are approved by the State Board of Health. Statistics. Keliahle comparative figures of municipal indebtedness are even more difficult to obtain tluii a comi>arative summary of debt limi- tations. The debts of individual cities, espe- cially when reduced to a jxr capita basis, can be interpreted intelligently only when accom- panied by statements regarding tax rates, the extent to which the cost of municipal improve- ments is met by special assessments, and espe- cially by data as to the character and extent of the services rendered to the citizens by the munic- ipality. Low per ca])ita bonded indebtedness is not necessarily advantageous to citizens and tax- payers, since it may mean that the city in ques- tion is either without improvements, or that it-s water-works, lighting service, bridges, and even sewers, are owiu'd by private companies. The municipal debts of some of the large Euro- pean cities in 1888-80 are given by Fairlie* as follows (condensed and rearranged) : BrUHsels Paris Manchester... Liverpool AniPterdain... BinnliiKliam. GIai*pow Muiiii'h London Leipzig Berlin Lyons Cciioffne Bordeaux Amount Per capita $56,000,000 $2»0 443,(I(I,1H)0 160 79.000.IKHI 1.50 43,000.000 110 40.IHI0.IK10 80 CO.UIKt.UIHI 80 43.niHI.(HKI 69 2.'>.iK>o.niH) 55 24:i.'2O0..'il.'; 54 1T..">IK).IKK1 40 f)«,2i'.i.n.") 37 14.000.(I(KI .32 10.(KKl.injO 29 6.000.000 24 • Crets of England and Wales increased from £1)2.820.100 in 1874-75 to f2,'>2.13ri.;')74 in 18!)ti-!t7. whereas in the same period the debt of the linited Kingdom decreased from £7C8,il45.7.>7 to £(i4.773.(!}7. In other words, the local debt increased in tenty-two years from 12.07 to 39.3;') per cent, of the national debt, l-'airlie (see bibliogia])hy) states that in England the municipal (lebt trebled from 1875 to 18!)8, and that in France it increased by two- thirds between 1SU8 and 18!)!). For the Luited States local debt statistics by cities. Slates, and for the whule country were given in the Tenth and Eleventh Censuses (1880 and 18!)0). Beginning with 18!in. the United States Department of Lal)or has devoted a large part of its Septeiuber Bulletin, each year, to ■'Statistics of Cities," among which it includes bonded, floating, total, net, and per capita net debts, sinkin.g funds, and legal borrowing limits for cities of .30,000 pu])ulation and upward. The bulletin for 1902 contained figures for the fiscal year preceding (1900-01. 1901, and 1901-02, ac- cording to local conditions) for 137 cities. The per capita net debts (figured on estimated popu- lations) range from $1.48 for San Francisco to $115.57 for Newton, !Mass. The average is not given. In connection with the low debt of San Francisco, it should be noted that the water- works and lighting plants are owned by a private company, ami that in many res]x'ets the city is backward in public iui]>rovements. Newton, on th£ other hand, is a very progressive city. Se- lecting the largest city in each group of ten. the table following has been compiled from the 1902 bulletin. Of the 137 cities in the original list, 23 report no sinking fund, and an equal number repiu't no debt limit. Providence. R. I., is allowed to con- tract debts up to 30 per cent, of its assessed valuation and sinking fund combined, and Nor- folk. A'a.. may go as high as 20 jier cent, of the assessed valuation. The lowest limit is 2^^ per cent, of the assessed valuation. Biiu.iooRAPHY. Adams, PuhUc Debts (New York, 1890) : Fairlie, MiDiicipiil AdnnninlratioH (New York, 1901 ) ; the works noted under Debt, Public, and Finance: United States Census Re- ports for 1880 and 189D; Septendjer Bulletins, United States Department of Labor (beginning 1899) ; British Local (Jovernment Board Reports (annual) ; and the semi-annual "States and City Sup]ilement" to the Comiiiercinl and Financial Chronicle (New York). The latter contains ab- stracts of constitutional and legislative provi- sions regarding uumicipal debt limits. (: DkHTS and LEOAI, BORBOtVINO LIMITS OF FomTKEN AMERICAN ClTIES (Compiled from Statistics of Cities, United States Department of Labor, 1902) New York. N. Y Pittflburg, Pa ln<)iann[>nl)s. Iild New Haven. Conn ('anibridffe. Mass WilniluKlon. Del Snnierville. Mass San Antonio, Texas.. Wat«'rbur.v. Ciinn Llu<-nln, Neb Springfield, Ohio, .totiriMlown. Pa Topekn. Kan Canton. Ohio Estimated population, 1902 3.68:1,930 333.600 182.500 112.000 94.084 78..'iOfl 6.3.600 65,600 48.139 42.600 40.000 40.000 »4.600 33.000 Debt Bonded Bondefl and floating $426,174,823 $432,481,295 23.278.702 24.422.156
 * »,855.735 t

4.051.735 t 3.429.500 3.8t»4,500 8.:)74.500 8.374.500 2,ini.;t99 2,232.393 1.461.000 1.761 ,(KX) 2,271.1100 2.542,827 1,570.000 1,570.000 1.666,988 1.8«1,RX1 893.846 938,846 684.600 5.34,500 1.110.390 1,110.390 969.189 1,017.169 Net (total less Net sinkiuf? fund) per capita $311,140,375 18.596.79:1 4.0.'il,7:(5 t 3,823, !>94 6,374,910 2,232,393 1.7lil,(KK) 2,4.'M,0,V2 1,495,123 1,812,426 9:18.846 4:19.174 1.101,120 1.003,289 $86,82 65.76 22.20 t 34.14 67.76 28.44 27.73 44.16 31.06 42.65 23.47 10.98 31.92 30.40 Le^ral bor- rowing limit, per cent. 10- 7 + 2t § 2m s 2V4f 8t none none none 2 11 none none • Of nHsetwMl vnliintlnn ; exeludlncc water debt, t Of assessed valuation. J Ineludlnp $866,209 assessment bonds. 5 Controlled b.v State leirlslntiire. t Of avernire nssessed valuation for three .years. || Of assessed valuation : may be 7 per cent, by vote of people, for general city purposes, also uu equal amount for school purposes.