INTEREST-BEARING DEBT. PUBLIC DEBT OF THE UNITED STATES. Consals of 1930, 2 per cent............ Postal Savings, 1914-34, 7th Series... $646,250,150.00 50,000,000.00 Aggregate of certificates and Treas- 4,635,820.00 Aggregate of interest-bearing debt.. 8968,825.550.00 Aggregate debt on which interest has $973,777,859.00 493,367,000.00 2,594,000.00 $1,469,538,869.00 CLASSIFICATION OF DEBT OCTOBER 1, 1914. Debt on which interest has ceased.. Aggregate... $968,825,550,00 1,544,620 26 369,353,079.40 $1,339,723,249.66 $1,544,620.26 United States notes....... National bank notes: Redemption Fund... 15,766,843.00 Certificates and Treasury notes.... 1,469,538,869.00 Gross debt.. CASH IN THE TREASURY. Currency trust funds. $1.469,538,869.00 150,000,000.00 $346,681,016.00 Gold reserve fund.... 112,204,309.18 53,152.50 Net balance,gen.fund National bank notes: Redemption fund.. $2,809,262,118.66 Fractional currency.................... 6,852,067.90 Total.. Aggregate of debt bearing no interest. $369,353,079.40 Net debt October 1, 1914 15,766,843.00 $1,747,510,021.18 1,061,752,097.48 CURRENCY TRUST FUNDS, THE GENERAL FUND, AND GOLD RESERVE FUND. 1,680,917, 706.23 1902 ** For amount of the Principal of the Public Debt from 1793 to 1872, see 1913 WORLD ALMANAC WORLD'S PRODUCTION OF RUBBER. AN article in Capital, published in Calcutta, contains the following estimate of the world's production and consumption of rubber from 1905 to 1921. Beginning with 1914, they are based on expected yields per acre. Other. Total. Plants'on Brazil. Tons. Tons. Tons. Tons. Tous. 64,000 40,000 20,000 124,000 126,000 94,000 38,000 10,000 142,000 142.000 121,000 35,000 5,000 161,000 159,000 147,000 32.000 2.500 181,500 179,000 166,000 30,000 Nil. 196,000 197.000 183,000 30,000 Nil. 213,000 216,700 198,000 30,000 Nil. 228,000 238, 370 209,000 30,000 Nil. 239,000 262, 200 COVERNMENT SECURITIES. AVERAGE ANNUAL NET PRICE OF GOVERNMENT BONDS OF ENGLAND, FRANCE, GERMANY AND UNITED STATES. The quotations for English consols, French rentes and German imperial loans from 1882 to 1905 are taken from the "Materialien zur Beurtellung der Zusammenhange zwischen dem offentlichen Schuldenwesen und dem Kapitalmarkte," Berlin. 1908. Figures for more recent years compiled by the Bureau of Foreign and Domestic Commerce from returns of the Bank of England and data given in the Statistisches Jahrbuch des Deutschen Reichs. The quotations for United States bonds were complled by the United States Treasury Department. REAL INTEREST EARNED UPON EUROPEAN, ENGLISH AND AMERICAN GOVERNMENT BONDS AT THEIR AVERAGE MARKET PRICE. 94.66 92.58 90.02 106.74 131.98 104.99 105.67 104.00 103.16 102.47 121.25 103.93 100.94 95.15 85.84 119.11 101.47 101.75 93.17 84.41 115.18 100.87 102.28 114.84 101.38 101.92 112.67 100.87 102.76 102.74 PUBLIC DEBT OF THE STATES, CITIES, COUNTIES, INDEBTEDNESS LESS SINKING FUND ASSETS. States...... 11,302.400] 11,066,133 26.11 17,855,929 14,942,852 11.60 Washington... 1,864,195,826 1,629,881,626 23.72Wyoming.... 122,375 0.77 Minor civil divisions included in the second column above embrace villages, towns, townships, precincts, fire districts, irrigation districts, poor districts, school districts, etc. *Sinking fund exceeds total debt by $126,351. SINKING FUND ASSETS OF STATES, 1902. -The following States in 1902 maintained sinking funds to the amounts attached: Massachusetts, $18,304, 730; Rhode Island, 8444, 452; New York, $2,545,116: New Jersey, $172.550; Pennsylvania, $4, 432,024; Delaware. $7,658; Maryland, $1.974,587; Virginia, $3,176.040; South Carolina. $517,648; Florida, $160, 200; Ohio, $254,569; Indiana. $61; Michigan, 886, 237; Minnesota, $365,966; Missouri, $520,204; North Dakota, 81.116; South Dakota, $46,737 Kentucky, $324,548: Arkansas, $65,580; Montana, $111,483, Idaho, $431,306; Colorado, $164,953; New Mexico, $123,277; Arizona, $1,002; Nevada, $18,494; California, $419,630. Total, 834,670, 265. BONDED DEBTS AND ASSESSED VALUATIONS OF STATES. FROM LATEST STATEMENTS FURNISHED BY THE STATE TREASURERS OR COMP TROLLERS. Bonded Arkansas..... California.. Colorado (a)... Connecticut (c)....... District of Columbia. Georgia (d) Idaho (a)........ Illinois.... 1,681.199,185 Indiana (d)..... 1,212,113,839 Iowa..... 2,923,134,984 Kentucky (d).. 638,080, 463 Kansas.. Louisiana... Massachusetts.. Michigan...... Minnesota....... Mississippi... Nevada... New Hampshire (a). New York. North Carolina... North Dakota... Oklahoma......... South Dakota (a).... Virginia... Wyoming Debt. $6.50 $9,070,000 4.95 (b) 910,972 6.88 3,232,646,152 .39 422,439, 525 #948, 399, 019 1,250, 500 85,217,400 4.12 3,154,000 (a)7,064,100 826,785 377.443,857 † 196,805, 441 15.00 6,939,150 7.50 601,567 842,358,342 5.00 6,544,000 161,187.226 1.25 6,844,000 2.381,250 1,149,615 None. 159,000 5.00 None. 23.50 3.10 4,631,793,509 (0) Not stated. 522,334,771 2,712, 135, 196 2.19 185,489,012| 1,339,758,747 27.74 104,420,290 372,218,556 6.00 544,197,745 1,756, 476, 990 19.00 10,991,500 569,000 20,685,880 None. None. 2,828,899 6,048,839 200,000 None. 680,000 (e) 398, 714,464 16.00 1,156,000 2,166,735,535 None. None. 64,506,560 (h) 159,910,660 569,029, 035 4.76 † 307,042.816 4.50 8,149,150 937,300 3,031,000,000 7.636,000,000 213,472,755 (1) 1,176,933,582 1,603,258,782 6,805,004.582 905,011.679 36,836,283 182,662,585 95,000,000 129,022 325 79,324,281 47,076, 862 (p) 314,014,716 123,855,736 262,637.372 506,005,366 2,500,000,000 † 213,859,715 224,541,672 (p) 862,636, 509 8,977,500 4.00 11,210,000 18.83 None. 3.50 c)24,986,959 8.07 None. None. 9.70 None. 11.80 111,000 Personalty included in realty valuation. †Including railroad, telegraph or other public utilities. Exclusive of banks, insurance, trust and investment companies and $92,935,000 added by State Board of Equalization. The returns are for the fiscal year 1914 except when otherwise indicated. (a) 1913. (b) Net debt. (c) 1911. (d) 1912. (e) In addition Public Service Corporation $61,585.188. (h) No direct State tax. (1) Including Public Service Corporations. (m) Excluding railroads $43,783, 509. () Real, none; personal, 4 mills. (0) Varies in each municipality. (p) Excluding Public Service Corporations $155,719,780. NATIONAL AND STATE INDEBTEDNESS: 1870-1913. THE following report on National and State indebtedness and funds and investments from 1870 to 1913 was issued by the Bureau of the Census in July, 1914. According to this report, the total debt of the forty-eight State Governments on June 30, 1913, amounted to $422,796,525. Of this total, $403,366,569 represented funded debt, and $19,429,956 represented floating debt. Of the funded debt, $364,836,427 are represented in bonds and $38,530,142 are special debt obligations to public trust funds. As an offsetting item against this total debt, the forty-eight States reported $76,980,571 in sinking fund assets, leaving their debt (less sinking fund assets) $345,942,305. The per capita debt for the forty-eight States amounted to $3.56 on June 30, 1913. In contrast with the debt of the forty-eight State Governments, 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. Of the funded debt, the bonded indebtedness amounted to $967,366,160, while the special debt obligations amounted to $1,573,157,169. The sinking fund assets, or cash in the United States Treasury available for the payment of debt, consisting of accumulated trust funds, gold and silver and general Treasury cash, not only were sufficient to eliminate entirely the special debt obligations but also to reduce the bonded debt. The National debt, less cash in the Treasury available for the payment of debt, amounted to only $1,028,564,055, or a per capita debt of $10.59. The net debt of the National Government represents three times the total net debt of the State Governments. Of the total per capita debt of $14.15 (National and State), the debt of the National Government is $10.59, or 75 per cent., while the debt of the State Governments amounts to $3.56, or 25 per cent. of the total. |