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STATISTICAL ATLAS. 62 W E A L T H AN D DEBT. 3 7 3 . ,T o t a l W e a l t h o e t h e U n i t e d W EALTH . S t a t e s : 18 5 0 t o 1 8 9 0 . [Billions o f dollars.] The wealth of the United States is the total value of the property of the people and the government, which has been estimated by each census since 1850. The early estimates are naturally less complete and correct than those of later dates. The following table shows the results of these estimates and the wealth per capita of the population: T O T A L AN D PER C A P IT A W E A L T H , BY DECADES. W ealth per capita. Total wealth. DECADES. 1850.......................................... $7, 136, OOO, i860.......................................... 16, 160, 1870......................................... 30, 069, OOO, OOO 780 1880......................................... 43, 642, OOO, OOO 870 1890.......................................... 65,037,091,197 1,036 OOO $308 OOO, OOO 514 3 7 4 . W e a l t h p e r C a p i t a : 18 5 0 T o 1890 . [H undreds of dollars.] These figures are graphically given in Diagrams 373 and 374. The following table shows the rate of increase in wealth, by decades: R A T E OF IN CR E A SE OF W E A L T H , B Y DECADES. R a te o f in c re a s e . DECADES. 126.5 85-5 4 5 -o 49.02 The wealth in 1890 is made up of the following items: Mines and quarries, including product on hand. .. Gold and silver coin and bullion............................. Machinery of mills and product on hand............... Railroads and equipment......................................... Telegraphs, telephones, ships, and canals.............. Miscellaneous.................................... ...................... $39, 544, 544,333 2, 7° 3> OI5, ° 4° 1,291,291,579 1,158,774, 948 3, 058,593,441 8,685,407, 323 701,755, 712 7,893,708,821 These are shown graphically by Diagram 375. 376. T r u e V a l u a t io n o f R e a l a n d STATES. P e r s o n a l P r o p e r t y C o m b in e d a n d A s s e s s e d V a l u a t io n o f P o r t i o n T a x e d : 18 9 0 . B IL L IO N S 1 £ 3 OF DOLLARS. A 5 6 7 e P E N N S Y L V A N IA IL L IN O IS OHIO M A SSA CH U SE T TS C A L IF O R N IA MISSOURI IO W A TEXAS IN D IA N A M IC H IG A N W ISCO N SIN 375. W e a lt h in 18 9 0 . KAN SAS M IN N E SO T A N EW JER SEY N EBRASKA KEN TU CKY R ESID ENCE AND COLORADO M ARYLAND TE N N E SSE E V IR G IN I A G E O R G IA B U S IN ESS REAL ESTATE CO N N E CTIC U T W A SH IN G TO N ALABAM A OREGON NORTH C A R O L IN A RHODE IS L A N D L O U IS IA N A M A IN E ARKAN SAS M IS S IS S IP P I FARMS M ON TANA W E S T V IR G IN IA SOUTH D A K O T A SOUTH C A R O L IN A LIV E STOCK AND F A R M IM PLE M E N TS M IN E S G OLD A S IL V E R MACHINERY A N D M A N F D PRODUCTS F L O R ID A UTAH D IST. OF COL. N O R TH D A K O T A N E W H A M P S H IR E VE R M O N T N E W M EX ICO AGENCIES OP TRANSPORTATION ID A H O A R IZ O N A NEVADA DELAW ARE W Y O M IN G m is c e l l a n e o u s ASSESSED V A LU ATIO N OF PORTION T A X E D . T R U E VALUATION OF REAL AND PERSONAL PROPERTY COMBINED. s t a t is t ic a l 378. V a l u e o f R e a l E s t a t e a n d atlas. 63 I m p r o v e m e n t s T h e r e o n , b y S t a t e s a n d T e r r i t o r i e s : 18 9 0 . [Millions o f dollars.] STATES. 1000 2000 4000 NEW Y O R K P E N N S Y L V A N IA IL L IN O IS OHIO M ASSACH U SETTS C A L IF O R N IA M ISSOURI IN D IA N A IO W A TEXAS M IC H IG AN W ISCO NSIN M IN N E SO T A N E W JE R S E Y KAN SAS M ARYLAN D 379. T r u e V a l u a t io n o f R e a l E s t a t e a n d I m p r o v e m e n t s T h e r e o n , p e r C a p it a , b v S t a t e s a n d T e r r i t o r i e s : 18 9 0 . KEN TUCKY [Dollars.] N EBRASKA STA TE S. COLORADO CO N N ECTICUT NEVADA W ASH IN G TO N A R IZ O N A TEN N ESSEE 200 M O N TA N A W YO M IN G j V IR G IN IA G EO RG IA OREGON RHODE IS L A N D D IST . OF COL. N ORTH C A R O L IN A L O U IS IA N A W ASH IN G TO N COLORADO C A L IF O R N IA D IST . OF COL. OREGON ID AH O ALABAM A NEW YO R K RHODE IS L A N D M A IN E N ORTH D A K O T A W E ST V IR G IN IA ARKAN SAS M IS S IS S IP P I M ON TANA SO UTH D A K O T A F L O R ID A UTAH UTAH ILL IN O IS M A SSA C H U SE T TS M IN N E SO TA N E W M E X IC O CO N N E CTICU T P E N N S Y L V A N IA M ARYLAND SOUTH C A R O L IN A OHIO N E W H A M PSH IR E N EBRASKA N ORTH D A K O T A VE R M O N T N E W M EX ICO DELAW ARE IN D IA N T E R . NEW JE R SE Y IO W A KAN SAS W ISC O N SIN U N IT E D S T A T E S SOUTH D A K O T A A R IZ O N A DELAW ARE ID AH O IN D IA N A W Y O M IN G O K LA H O M A NEVADA M IC H IG A N O K LA H O M A 400 8 0 0 U O O [ 1400 1800 assessed to their true valuation are shown, by states, by Diagram 378, in which the states are arranged in very much the same order as in the diagram last cited. Diagram 379 shows the true valuation of real estate with improvements per capita of the population. In this diagram a very different order of the states is observed, the western states and territories being at the head of the list and the southern states at the foot. The assessed valuation of all taxed property, including real estate and personal property, is shown by Diagram 376 by the black portions of the bars. Here New York and Pennsylvania head the list, with Massachusetts third and Ohio fourth. Illinois, which stands third in true value of property, is comparatively low in respect to assessed valuation. This is due simply to the fact that its property is rated low by the assessors. The same is the case in Iowa, Kansas, Nebraska, and other states. Thus it is seen that the relation between the length of the black and the shaded bars expresses the ratio between the assessed and the true value of property. In the northeastern states the ratio is not far from one-half, while in many of the northern central states it is less than a fourth. The highest ratio is in New Hampshire, where it approaches quite nearly to unity. Diagram 380 shows the assessed valuation of taxed property, distinguishing between real estate and personal property. Taking the country over, personal property has a valuation not very different from that of real estate. Indeed, speaking roundly, it may be said that they are about equal, and the deficiencies which are illustrated in this diagram mean simply that far the largest proportion of personal property escapes taxation ; in other words, is not returned to the assessors. This proportion differs in different states with the degree of stringency of the laws and the care exercised by assessors in carrying out the laws. As is seen, there is scarcely a state in which the returns of personal property are not deficient. Maps 381, plate 61, and 382, plate 62, represent the true value of real estate with improvements, in the first com pared with area, and in the second with population. The TEXAS M ISSO URI F L O R ID A N E W H A M P S H IR E 3 8 0 . A s s e s s e d V a l u a t i o n o f P r o p e r t y T a x e d , b v S t a t e s a n d T e r r i t o r i e s : 18 9 0 . V ERM O N T M A IN E REAL ESTATE. STATES- PERSONAL PROPERTY. KEN TUCKY W E S T V IR G IN I A V IR G IN IA TEN N E SSE E L O U IS IA N A G E O R G IA ARKAN SAS ALABAM A NORTH C A R O L IN A M IS S IS S IP P I SO U TH C A R O L IN A The nation’s wealth has increased in each decade at a more rapid rate than the population. The total wealth has increased in forty years until in 1890 it was more than nine times as great as in 1850, and the wealth per capita has more than trebled. The true value of all property in each state is shown by Diagram 376, by the total length of the bars. New York is the wealthiest state, with a valuation of over $8,500,000,000, or nearly one-eighth of the entire wealth of the country; Pennsylvania follows with about onetenth, and Illinois with about a twelfth of the entire wealth. The total wealth per capita of the population is shown by Map 377, plate 61, wherein it appears that the wealthiest states in proportion to population are those of the far west and the poorest those of .the south. Wealth may be divided into two parts— real estate with improvements and personal property. The value of the former has been obtained from the reports of assessors, which give the value as assessed for purposes of taxation. This bears a certain relation to the true value differing in different states and in parts of the same state, and these relations have been obtained approximately by corre spondence with assessors, real estate agents, and others who are qualified to give such information. The results of the assessors’ returns as modified by these ratios of S O O PO S2500.000.000 82,000000.000 81500.000000 51,000.000.000 3PO .O O O 4- 8 500000.000 $500,000,000 N.Y., PA MASS, O H IO CAL. M IC H , MO, ILL, N. J IND. TE X A S M IN N . W IS . MD. KY. IO W A TENN. VA. CONN. R.T. KAN, ME. GA WASH. LA. COLO. ALA. N.C. N.H. D.C. W.VA. M IS S . NEB. VT. ARKi OREG. S.D. SC. UTAH N.D. DEL. FLA. MONT. N .M . WYO. A R IZ . ID A H O NEV. 64 STATISTICAL ATLAS. 3 8 4 . R a t e o f T a x a t i o n p e r f i o o o f A s s e s s e d V a l u a t i o n , b y S t a t e s a n d T e r r i t o r i e s : 1890 . C o m p o s i t i o n o f t h e C o m b i n e d D e b t i n 188 0 a n d [Cents.] 18 9 0 . 3S6. 1880 STATES. 387. 1890 N EBRASKA IL L IN O IS KAN SAS A R IZ O N A ID A H O NATIONAL DEBT IO W A LESS CASH IN TREASURY COLORADO 891, 960,104 NEVADA N O R TH D A K O T A SOUTH D A K O T A N E W M EX ICO W Y O M IN G W A SH IN G TO N CD W ISCO N SIN in o' K O J o Ci V NATIONAL DE8T L O U IS IA N A L E S S CASH IN T R E A S U R Y M IN N E SO T A 1 ,922,517,364 F L O R ID A C J STATE 228, 997,389 C O COUNTY in M ON TANA 145, 048,045 < £ ho NEW YORK OHIO SCHOOL DISTRICT 36.701,948 < O U N IT E D S T A T E S o _ J M ISSO U RI OREGON o z < W E S T V IR G IN I A t- IN D IA N A LU C A L IF O R N IA MUNICIPAL 724,463,060 O D CO N N E CTIC U T M IS S IS S IP P I SOUTH C A R O L IN A ARK AN SAS M IC H IG A N M A IN E <> T N E W JE R S E Y STATE in M ARYLAND N E W H A M P S H IR E to o CO C O h- UTAH COUNTY j D IS T . OF COL. 14 2 ,105.027 O I- TE N N E SSE E 297,244,095 SCHOOL DISTRICT I7 .5 80 .6 8Z O M ASSACH U SETTS o P E N N S Y L V A N IA G E O R G IA Q < VERM ONT LU DELAW ARE z I< 1 — w TEXAS V IR G IN I A MUNICIPAL 684,348,843 KEN TU CKY RH ODE IS L A N D ALABAM A N ORTH C A R O L IN A T A X A T IO N . 388. N a t i o n a l D e b t , D f s s C a s h in T r e a s u r y : 1 S5 6 t o 1 8 9 1 . The rate of taxation per $100 on assessed valuation of property is shown by Diagram 384. This does not express the burden on property, inasmuch as the assessed valua tion of the different states bears different relations to the true valuation. Map 385, plate 63, shows the taxation compared with population; that is, the burden on each individual. This is seen to he greatest in the west and least of all in the southern states. [Hundreds o f millions o f dollars.] 10 > 2 14 22 24 26 1856 ■ 18571 1858 ■ 18 5 9 ■ 1860 ■ 1861 ■ 1862 ■ 1863 ■ 1864 ■ 1 66 5 M 1 86 6 ■ 1 86 7 ■ 1868 ■ 1 869 ■ 1870 ■ ia 7 i ■ 1872 ■ 1873m 1874 M 1 67 3 M 389. N a t i o n a l D e b t , p e r 676 ■ 1877 C a p i t a , D e s s C a s h i n T r e a s u r y : 18 5 6 t o 1 8 9 1 . [Dollars.] m 1878 ■ 1879 M 18561 I8 60 M 4-2 1857 I rear m 1 2 -r— 1858 M 1882 m 18 83 M 1859 M 18 6 0 ■ I 6 84 M I8 6 IH I8 8S M I8 62 M I8 86 M 1863 M 1 88 7 M 1864 M 1 888 M 18 6 5 M 1889 M I 8 6 6|m 189° M 1867 M 1891 ■ 1 868 M 1869 M 1870 M 1871 M first shows a low valuation in the sparsely settled west and, though in less degree, in the south, and a high valuation in many of the northeastern states; and sec ondarily, the upper Mississippi valley and the parts of the Lake states adjoining. The second map shows a high valuation per capita in certain parts of the west, including especially Washington, California, Colorado, and west Texas. Indeed, most of the west is rich in real estate values, while, on the other hand, the south is poor. Map 383, plate 62, presents the distribution of assessed values of property per capita of the population. 18 72 M 1873 M 1 874 M 1875 M 1876 M 1 877 M I8 7 8 H 187 9 M I 8 80 M 1881 pm 1 882 M 18 8 3 M 18 8 4 M I8 8 5 H I8 86 M 1887 M 1888 M 18 8 9 M I8 9 0 M 1891 M i 48 _60 66 377. TRUE VALUATION OF REAL AND PERSONAL PROPERTY PER CAPITA: , jk Vi hw i n \ l'N / S n J’ a Vv L3®' I f y 1 t \ y j ^ PLATE 61. r 1 k 1890. 'J L q $ 2Jodo ^ -Pf .1 t if: 381. TRUE VALUATION OF REAL ESTATE AND IMPROVEMENTS THEREON PER ACRE: 1890, V-iO/HI W... ^7 * 'S/V ' ¥ \ ' j - L y o - </ . \ Y f ■ ? p - ' A M i T i - r -<0*0? • >r»* 4 i/ lV 1 V J| / u ^ r r p r y. i ( j \ K / ir P ~ ± sS p P ~ J - r V i : 9/ —s c / r / // / TH>aHr--- *----------- — ■ / i j ^->P .. v I ° ,. u . y1 * —4ur! raJZuwqi j - 3 \ a ■I n ■7 * p r^ -. n (j t\ r ~ n Tv ^ i l L l A P V i fr k l: “r 11 1 -L U / J K m » t r ^ - - i r v \n < - ;) r t " 'T PH.. 1 .U r. v SW _ f n \ L y : i \ 1■ li L: H ■1====^ \| V ~ \ il i 1Np o 1 I C rta ^ j j 1 i Under #5 p e r a w J U L IU S B lE N A CO. LIT H , N Y, 382. TRUE VALUATION OF REAL ESTATE AND IMPROVEMENTS THEREON PER CAPITA: 383. ASSESSED VALUATION ON REAL AND PERSONAL PROPERTY PER CAPITA: 1890. PLATE 62. 1890. J U L IU S B IE N & CO. LIT H . N Y. 385. 398, TAXATION ON REAL AND PERSONAL PROPERTY PER CAPITA: 1890. DISTRIBUTION PER CAPITA OF THE COMBINED COUNTY, MUNICIPAL AND SCHOOL DISTRICT INDEBTEDNESS LESS SINKING FUND. PLATE 63. 1890. ( 1 U S Btute % r y Tv / I r \ t E iV l U nder $1 per capita $ 30 and ov er, J U L IU S B IE N A CO. LIT H . N.Y. STATISTICAL ATLAS. 3 9 0 . N a t i o n a l D e b t — A n n u a l I n t e r e s t C h a r g e : 18 5 6 t o 65 18 9 1. 3 91. N a t io n a l D e b t — A n n u a l I n t e r e s t C h a r g e [Millions.] C a p i t a : 18 5 6 t o 1 8 9 1 . 23 37/2 SO Gay* 75 Q7Y* IOO 1856 ■ 1857 ■ 1858 ■ 1859 1860 1861 1862 1863 ■ ■ ■ n wmmmmma 1864 B S H H i l ■ ■ ■ ■ ■ ■ || iim _______ ________ _______ 1865 1866 r _ _ 1867 _r __ _ 1868 1869 1870 1871 mmm _______ 1872 1873 m m jM 1874 m m ^ 1875 1876 B B E R H B w m a m o B n s n i m n E H m H H ■ ■ ■ ■ ■ ■ ■ ■ ■ HI ■ ■ ■ ■ 1877 1878 mmm 1879 mmmmm 1880 1881 m m m m m 1882 1883 ■ 1)2 /Z 125 11 Years. per [Dollars.] 1 m EZZ um mm 1001 1885 1886 1887 1888 1889 1890 1891 aft ■ — — 393. O u t s t a n d in g P r in c ip a l o p t h e P u b l ic D e b t , L e s s C a s h i n T r e a s u r y , J a n u a r y i , 18 8 0 . NAVY PEN SIO N FUND Q > 14.000.000 392. O u t s t a n d in g P r in c ip a l o p t h e P u b l ic D e b t , L e s s C a s h i n T r e a s u r y , Ja n u a r y i , 18 9 0 . A. NAVY F EM 5lO M FUND CT" ------------------------------------- 3 ^ " IA O O O . O O O A I o H > o m CD TO C CD CD m r> > <33 D JO o jo ro rn CP z C3 to a a? CD C 4^ aj 03 to JSS z Co to •H O o > u> CD o o X C/3 -t ro H o -j 2 33 r~ m -0 cz co o -c t to a DO DO ,m TO •5 " 30 a? Z f\> CD C D CD S=> o o O o o CD o IL ) <0 03 O 2 & o\° 0s -< DO O rz >.O' * 1 33 H CO C L 3 "=----------g r 2 > <> T X -= 2 m 33 <0 cn 03 rn J> 2 GY CD H 2 3 0 m o CD IN D E B T E D N E S S O F S T A T E S . N ro co >» CD CD CD 30 o o -< CD ro n o 00 0 c1 0 / CD >4 £ CD o ** CD o o ro C D CD Vl 0 _J 0 O O V o '* o o JA . L u> _ P° z CO m J* O’ -I oo o d m j rn A ^ ro rn a to A -H Diagram 389 shows the history of the national debt since 1856 per capita of the population. A t the maximum in 1865 the debt was about $75 per head of population. The decrease in the debt since then has been accompanied by an increase in the population, so that in 1891 it was but $13 per head, or about one-sixth of what it was in 1865. Diagram 390 shows in similar form the annual interest charge 011 the national debt for the same year. The interest charged has, since the war, diminished not only as the principal has diminished, but at a more rapid rate, as loans were replaced by others at less rates of interest. The annual interest charge per capita has diminished, but at a still more rapid rate, 011 account of the increase in population. This is shown by Diagram 391. Diagram 392 classifies the outstanding principal of the public debt, less the cash in the treasury, separating the interest bearing debt from the non-interest bearing debt and classifying the interest bearing debt according to the interest paid. Thus it is seen that the great body of the interest bearing debt is at 4 per cent. Diagram 393 presents the status similarly in 1880 for comparison. ^ gy 00. D EBT. In 1890 the debt of the United States, the states, coun ties, school districts, and the municipalities was, together, a trifle over $2,000,000,000. In 1880, 10 years earlier, it was a trifle over $3,000,000,000, having diminished in 10 years by one-third its amount. Diagrams 386 and 387 show these debts in 1890 and 1880 side by side. The total area of each diagram repre sents the entire governmental debts and is subdivided into the parts appertaining to each group of governments. A t each date the national and the municipal debts are the large items, the state and county debts being small, and school district debts trifling in amount. During the decade the national debt has been reduced one-half, state debts have diminished decidedly, county debts have slightly increased, those of school districts have doubled, and those of municipalities have increased slightly. Diagram 388 illustrates the history of the national debt since 1856. A t that time it was trifling. During the war it increased with gigantic strides, reaching a maximum in 1865 of nearly $2,700,000,000. Since then it has dimin ished year by year, and commonly with great rapidity, until in 1891 it was but little more than a third as great as at the maximum at 1865. The indebtedness of states, which in 1890 amounted to $229,000,000, was distributed among the various states as shown by Diagram 394. The largest state debts were as a rule, those of the southern states. In Virginia the debt was vastly greater than that of any other state. Diagram 395 shows similarly the amount of state debt per capita of the population. Here we find Virginia with its large reconstruction debt far in the lead, Louis iana following it, and then alternately southern and far western states. Diagram 396 shows by the lengths of the bars the indebtedness of states, including in that term not only the state debt, but the debts of counties and municipali ties. Here New York is far in the lead, having a debt nearly three times as great as its next competitor, Massa chusetts, a fact which is in a great part due to the enormous debt of the city of New York. Massachusetts follows it, and then Ohio and Pennsylvania, the column being ended by the newer states and territories of the far west. Diagram 397 shows the combined debt, that is, the debt of states, counties, and municipalities, per capita of the population. From this diagram it is seen that the District of Columbia had, per head of the population, a much larger debt than any other division of the country. This, however, is misleading unless qualified. STATISTICAL ATLAS. 66 R E A L E S T A T E M O R T G A G E IN D E B TE D N E SS. 3 9 4 . I n d e b t e d n e s s o f S t a t e s : 18 9 0 . [Millions.] 7n 10 1i r > 15 i7 » go The total amount of real estate mortgage indebtedness contracted between the years 1880 and 1889 was little over $12,000,000,000. In 1880 the amount contracted was $711,000,000, and in 1889, $1,752,000,000, about two and one-half times as much, showing a rate of increase in this class of indebtedness several times as great as in the increase in population and as the increase v n V IR G IN I A TEN N E SSE E L O U IS IA N A ALABAM A M ISSOURI G E O R G IA ARKAN SAS IN D IA N A M ARYLAND in wealth. The amount of real estate mortgage indebtedness in existence on January 1, 1890, was a little in excess of $6,000,000,000, of which amount $2,200,000,000, or 37 per cent, was upon acres and $3,810,000,000, or 63 per cent, was upon lots. The average amount of each mortgage upon acres was $959, and upon lots $1,540. The percent age of the debt to the true value of all taxed real estate was 16.67. In other words, the equities in all taxed real N ORTH C A R O L IN A 395. St a t e D e b t , M A SSA C H U SE T T S OHIO SO U TH C A R O L IN A M IC H IG A N TEXAS P E N N S Y L V A N IA I CO N N E CTIC U T M IS S IS S IP P I M A IN E N E W H A M PSH IR E C A L IF O R N IA NEW YO RK W ISCO N SIN M IN N E SO T A KENTUCKY | IL L IN O IS j KAN SAS j F L O R ID A N EW JE R SE Y DELAW ARE SOUTH D A K O T A j N E W M EX ICO A R IZ O N A N O R TH D A K O T A | COLORADO J NEVADA j RH O DE IS L A N D W Y O M IN G W A SH IN G TO N N EBRASKA IO W A ID A H O W E S T V IR G IN IA M ON TANA VE R M O N T OREGON p e r C a p i t a : 1890 [Dollars.] Virginia Louisiana A rizo n a Tennessee Nevada Alabam a M a ryla n d Arkansas Ne w Hampshire South Carolina G eorgia New Mexico Dela ware W yoming M aine Connecticut North Carolina M isso uri Ind ia na North Dakota Massachusetts M ississipp i South Dakota Florida Idaho M ic h ig a n California Ohio Texas Minnesota Colorado Wisconsin Montana Rhode Island Kentucky Washington Kansas Pennsylvania New Jersey Vermont New York Illin o is Nebraska West Virginia Io wa O regon 396. I n d e b t e d n e s s o f S t a t e s — C o m b in e d D e b t L e s s S i n k in g [Millions o f dollars.] NEW YO RK M ASSACH U SETTS OHIO P E N N S Y L V A N IA M ISSO URI V IR G IN I A NEW JE R SE Y M ARYLAND IL L IN O IS KAN SAS L O U IS IA N A TE N N E SSE E M IN N E SO T A IN D IA N A CO N N E CTICU T G E O R G IA TEXAS D IST. OF COL. KENTUCKY ALABAM A M IC H IG A N 52 N EBRASKA SOUTH C A R O L IN A RHODE IS L A N D IO W A N O R TH CA R O LIN A ARKAN SAS W ISCO NSIN COLORADO N E W H A M PSH IR E SOUTH D A K O T A M IS S IS S IP P I W A SH IN G TO N A R IZ O N A DELAW ARE M ONTANA N E W M EX ICO W E S T V IR G IN IA OREGON lightest in the southern states. The following diagram, 399, shows two things; first, the municipal debts of the 28 largest cities of the country, and second, the municipal debt per capita of the population of those cities. New York, which had by far the laigest debt, its amount exceeding $100,000,000, had not by any means the largest per capita debt, being exceeded in the latter regard by Baltimore, Cincinnati, the District of Columbia, Jersey city, and New Orleans. Western cities, as a rule, had small debts, both in total amount and in per capita of the population; Chicago, for instance, our second city, having a debt of but $13,000,000, or $12 per capita of the population, while the debts of Denver, Kansas city, and San Francisco are of trifling amount. F L O R ID A W YO M IN G ID AH O NEVADA UTAH C a p i t a : 18 9 0 . [Dollars.] C A L IF O R N IA VERM ONT succession of northern states. Map 398, plate 63, shows the distribution of county, municipal, and school district indebtedness over the country. The heaviest indebtedness of this local char acter was in the western states and territories, and the 397. C o m b in e d S t a t e D e b t , L e ss S i n k in g F u n d , p e r M A IN E N ORTH D A K O T A The debt of the District of Columbia, incurred largely on account of the general government, is assumed in equal parts by the general government and by the District. The next largest debt is Arizona, then Maryland and a F u n d : 18 9 0 . Dist. of Cot. Arizona M aryland Rhode Island Massachusetts New Jersey New York Connecticut Virginia Louisiana Nevada Kansas Wyoming Maine Montana NewHampshire North Dakota Colorado South Dakota Minnesota Ohio M issouri Idaho New Mexico Delaware Tennessee Nebraska Pennsylvania California Alabama South Carolina Vermont Indiana Georgia Illinois Kentucky' Arkansas Texas Washington M ichigan O regon North Carolina Wisconsin Io w a AFlorida M ississippi Utah West Virgin/ a ft 67 ft 75 ~ eIF STATISTICAL ATLAS. 68 . A m o u n t o f R e a l E s t a t e M o r t g a g e s m a d e d u r i n g 1889 b e a r i n g S p e c i f i e d R a t e s o f I n t e r e s t . 404. A m o u n t o estate amounted to about five-sixths of its value, the remaining sixth being still owing. The indebtedness R A T E S P E R CEN T. per capita of total population was $96. Diagram 400 illustrates the number and the amount of real estate mortgages made during 1889, classified by the amounts of money involved in each. The length of the bar in each pair represents the number of mortgages in 100 in that class. The second bar in each pair rep resents the amount of indebtedness in that class. It appears that two-thirds of all mortgages were for less than $1,000, but they involved only one-sixth of the indebtedness; 30 per cent of them were between $1,000 and $5,000. The amount of money in this class was UN D ER 4 BETW EEN 4 A N D 5 F IV E BETW EEN 5 AND 6 BETW EEN 6 AND 7 SE V E N N IN E STA TES. COLORADO C A L IF O R N IA 268 226 206 200 KAN SAS NEW JE R SE Y 170 161 N EW YORK ' D IS T . C O L U M B IA M IN N E S O T A M ASSACH U SETTS NORTH D A K O T A N EBRASKA W A S H IN G T O N P E N N S Y L V A N IA SO U TH D A K O T A CO N N E CTIC U T RHODE IS L A N D IO W A IL L IN O IS DELAW ARE VERM ONT W Y O M IN G M ISSOURI OREGON M IC H IG A N W ISCO N SIN OHIO M ON TANA M ARYLAND IN D IA N A N E W H A M PSH IR E M A IN E NEVADA N E W M EX IC O TEXAS F L O R ID A A R IZ O N A UTAH ID AH O ALABAM A W E S T V IR G IN IA KEN TU CKY L O U IS IA N A TE N N E SSE E V IR G IN IA G E O R G IA M ISSIS S IP P I ARKAN SAS N ORTH C A R O L IN A SOUTH C A R O L IN A 162 144 141 126 126 117 1 10 107 106 104 100 96 84 82 80 75 72 72 71 66 62 51 50 49 48 43 42 4C 39 39 38 26 26 25 25 23 17 15 15 13 13 12 in F o r c e Ja n u a r y i, E IG H T BETW EEN 8 AN D 9 B E T W E E N 9 A N D 10 TEN 1S90: OF D O L L A R S . 350 400 450 500 by Sta t e s 550 600 650 273,870,466 21,594,281 697,324, 357 S IX those on acres and those on lots. Diagram 402 shows the amount of real estate mortgage debts contracted during the 10 years between 1880 and 1889, inclusive, giving the total for acres and lots, and for Ca p it a , 300 44,631,777 BETW EEN 7 A N D 8 per 250 21,681,887 nearly 39 per cent. Diagram 401 illustrates the movement in the rate of interest on real estate mortgages in the 10 years between 1880 and 1889 for all real estate mortgage debts and for 406. R e a l E s t a t e M o r t g a g e D e b t , ISO ZOO 4,009,029 FO U R O VE R 10 lots and acres separately. Diagram 403 shows by percentages the number and the amount of real estate mortgages made during 1889, bear ing specified rates of interest, from which it appears that while the rate per cent ranged in different parts of the country from 6 per cent up to more than 12 per cent, more were contracted at 6 per cent, both as to number and amount, than at any other rate. This is true not only for all mortgage indebtedness, but for indebtedness secured by acres and lots separately. This diagram is summarized in simpler form in Diagram 404. Diagram 405 shows the total amount of real estate mortgage debt in force January 1, 1890, by states and territories. From this it appears that the mortgage debt of New York was more than three times as great as that of any other state, Pennsylvania being next, followed by Illinois and Massachusetts, the column being ended by the states and territories of the Rocky Mountain region. M IL L IO N S AM O U N T. DO LLARS.) 7,800,796 172,243,516 8, 536,896 267,556, 688 4, 313, 916 32,341, 868 942,086 154, 974,705 40,746,026 405. R e a l E s t a t e M o r t g a g e D e b t in F o r c e Ja n u a r y i , 1890, and T e r r it o r ie s . NEW YORK P E N N S Y L V A N IA IL L IN O IS M ASSACH U SETTS OHIO KAN SAS C A L IF O R N IA NEW JER SEY MISSOURI IO W A M IN N E SO T A M IC H IG A N N EBRASKA W ISCO NSIN I N D IA N A TEXAS COLORADO CO N N E CTIC U T M ARYLAND D IS T . OF COL. KEN TU CKY W A SH IN G TO N TE N N E SSE E ALABAM A by St a t e s and T e r r it o r ie s . RHODE IS L A N D SO UTn D A K O T A M A IN E V IR G IN IA L O U IS IA N A V ERM O N T G E O R G IA N ORTH D A K O T A OREGON : N ORTH C A R O L IN A W E S T V IR G IN IA M IS S IS S IP P I N E W H A M P S H IR E DELAW ARE F L O R ID A ARKAN SAS SOUTH C A R O L IN A M O N TA N A UTAH N E W M EX ICO W YO M IN G ID A H O A R IZ O N A NEVADA Diagram 406 shows the real estate mortgage debt in force July 1, 1890, per capita of the population by states and territories. Here again New York heads the list, followed by the District of Columbia and by certain northwestern states, while at the end of the list are the southern states. Diagram 407 shows the proportion of all taxed acres which were under mortgage January 1, 1890. Here Kan sas and Nebraska head the list, 60 per cent of the area of Kansas being under mortgage, and 55 per cent of the area of Nebraska. More than half of South Dakota and of the District of Columbia were mortgaged. Diagram 408 shows by the lengths of its bars the propor tion which the real estate mortgage debt in existence on January 1, 1890, bore to the true value of all taxed real estate in each state and territory. From this it appears that New York state was the most heavily in debt. Next to that was the state of Kansas, then follow New Jersey, Vermont, District of Columbia, South Dakota, Minnesota, STATISTICAL ATLAS. and Nebraska. In short, an examination of the list shows that the mortgage indebtedness of the southern 6 9 408. P e r c e n t a g e w h i c h t h e R e a l E s t a t e M o r t g a g e D e b t i n F o r c e J a n u a r y i , 1890, T r u e V a l u e of a l l T a x e d R e a l E s t a t e : b y S t a t e s a n d T e r r it o r ie s . bears to th e PERCENTAGE., indebtedness of the states and territories of the far west . . . ............................................. 2i N EW YORK . . . 5 7j 10 »2£ 15 20 22^ 2b 27± 30 K A N SA S N EW JE R SE Y heavily in debt are those in which speculation was at that time, or shortly before, most active, or in which the business activities were the most intense. VERM ONT D I S T . O F CO L. SOUTH DAKOTA M IN N E S O T A N EBRA SK A NORTH DAKOTA M ASSA CH USETTS 407. P e r C e n t of T a x e d A cr es C o v e r e d b y M o r tg a g es in F o r ce b y S t a t e s a n d T e r r it o r ie s . on Acres on Ja n u a r y i , 1890: W Y O M IN G P E N N S Y L V A N IA IO W A STA TES. C O N N E C T IC U T PE C N A E RETG DELAW ARE K A N SA S NEBRA SK A SOUTH D A K O TA D IS T . O F COL. IO W A N E W JE R S E Y N E W YORK P E N N S Y L V A N IA M IN N E S O T A ID A H O C A L IF O R N IA NO RTH DAKOTA W IS C O N S IN VERM ONT OREGON IL L IN O IS O H IO IN D IA N A M IC H IG A N COLORADO W A S H IN G T O N TEXAS M IS S O U R I W E S T V IR G IN IA ALABAM A S O U T H C A R O L IN A G E O R G IA M ASSA CH USETTS M IS S IS S IP P I N O R T H C A R O L IN A C O N N E C T IC U T N E W M E X IC O L O U IS IA N A W Y O M IN G KENTUCKY V IR G IN IA M ONTANA TEN N ESSEE ARKANSAS F L O R ID A A R IZ O N A 60 32 54.73 5! .76 51.25 4695 46.73 40.43 36.96 3573 3564 34.45 33.38 32.56 31.86 31.69 30.78 30.42 3038 30.06 3002 2969 27.61 2541 23.14 21.96 21.30 1 21.02 1 20.49 1 2 0 .1 2 1 17.85 1 17.70 1 17.191 16.731 14.01 I 13.731 13.591 11.631 II 461 10331 9.76 1 6391 C A L IF O R N IA M IS S O U R I ALABAM A M A IN E M IC H IG A N COLORADO IL L IN O IS N E W H A M P S H IR E N E W M E X IC O L O U IS IA N A R H O D E IS L A N D W IS C O N S IN M ARYLAND O H IO M IS S IS S IP P I W A S H IN G T O N IN D IA N A TEN N ESSEE F L O R ID A W E S T V IR G IN IA TEXAS N O R T H C A R O L IN A S O U T H C A R O L IN A OREGON G E O R G IA KENTUCKY ARKANSAS UTAH V IR G IN IA A R IZ O N A M ONTANA NEV A D A ID A H O 409. A v e r a g e Ra t e ok In te r e st by s t a t e s . R e a l E state M ortgage D ebt S t a t e s a n d T e r r it o r ie s . on th e PER RATE 3 A R IZ O N A 1 0 .9 1 M ONTANA I0.6f ID A H O 10.60 W Y O M IN G I 0.2 Z F L O R ID A Diagram 409 shows the average rate of interest, by states and territories. The rates of Arizona, Montana, Idaho, and W yoming were more than 10 per cent, and in other of the western states and the states upon the Great Plains, together with several southern states, the rate exceeded 8 per cent. In most of the eastern states the rate was less than 6 per cent. UTAH TEXAS M IS S IS S IP P I NEVADA SOUTH D A K O TA OREGON NORTH DAKOTA ARKANSAS W A S H IN G T O N 9.78 9.7 0 9.60 9.50 948 9.46 945 9.35 9.06 884 C A L IF O R N IA 8.81 K A N SA S N EBRA SK A S.68 8 57 8.37 8.30 N E W M E X IC O 8 0 .1 G E O R G IA 8.09 798 7.72 768 767 COLORADO S O U T H C A R O L IN A ALABAM A N O R T H C A R O L IN A M IS S O U R I L O U IS IA N A M IN N E S O T A IO W A M IC H IG A N IN D IA N A 7.66 763 7.13 6 .8 4 W IS C O N S IN 6 .8 4 IL L IN O IS 6.7 0 656 6.2 5 6.1 5 O H IO KENTUCKY M A IN E W E S T V IR G IN IA 606 V IR G IN IA 6.02 TEN N ESSEE 6.00 N E W H A M P S H IR E 5.9 8 5 97 VERM ONT D IS T . O F COL. M ARYLAND N EW JE R SE Y R H O D E IS L A N D DELAW ARE C O N N E C T IC U T P E N N S Y L V A N IA N EW YORK M ASSA CH USETTS o 5.9 3 5 86 5.7 3 5.72 571 5 .6 4 5.6 1 5 .4 9 544 a a A CENT 5 in F o r c e Ja n u a r y i, 1890:
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