Democratic Sentinel, Volume 5, Number 26, Rensselaer, Jasper County, 5 August 1881 — THE NATIONAL DEBT. [ARTICLE]

THE NATIONAL DEBT.

Various Issue* of Bonds, and Their Distribution fey States. Of the total national debt at the dates nearest the close of the census year, Jane 30, 1880, $1,173,749,250 were registered. To make this total the various issues of the bonds are taken at the following dates: Begietered 4 per cents, consols of 1907, on which the quarterly dividend of interest was paid July 1, 1880 $528,100,690 - per-cent, funded loan of 1891, on whicti the quarterly dividend whs paid June 1, 1880 170,280,800 Registered 5-per-cent, loan of ’Bl, on which the quarterly dividend of interest was paid Aug. 1, 1880 294,440,800 Registered 6-per-cent, loans of ’BO and ’Bl, on which the semi-annual dividend of interest was paid July 1,1880 180,92(1,700 Total ....: $1,173,749,250 Mr. Robert P. Porter, who has had charge of this branch of the census work, found that the' registered bonds were distributed through the country as follows; Private Individuals and corporations. $66i,990,400 Foreign holders 27,894,350 National banks (to secure circulation. 319,937,800 Total $992,822,050 The 6-per-cent, bonds were only payable in ten cities of the country, and, in consequence, it was impossible to distribute them in States and large cities, as was done in the case of 4, 4>£ and 5-per-cent, bonds. From this total of $1,173,749,250, there must bo deducted the aggregate of the 6-per-cent, registered bonds at that time, which was $180,926,700. After deducting this amount there remained of the other three species of registered bonds $992,822,550. it wiil be extremely interesting to note the distribution of tho $644,990,400 of bonds which were owned by private individuals and corporations. These owUenrnuiaber 73,114, and are distributed in the various States as follows : Percentage Percentage MasHafchasettft .* 16,855* jE&i ’ * *f>r. It Illinois 3,101 4.23 6.14 New Hampshire 2,'.i39 4.02 0.69 New Jersey. . 2,715 8.70 2.25 Connecticut. 2,367 8.22 1.24 District of Columbia.. 2,357 8.21 0.36 Vermont 1,909 2.01 0.67 Maine 1,711 2.34 1.29 Missouri 983 1.27 4.32 Maryland 920 1.26 1.86 Banks 906 1.25 Nono Rhodo Island 838 1.24 0.56 Indiana 608 1.00 3.96 Insurance companies.. 621 0.85 None Virginia 458 0.63 3 02 Michigan 653 0.63 8.26 Kentucky 451 0.61 3.29 California 411 0.56 1.72 Tennessee 869 0.51 . 3.07 Wisconsin 342 0.47 2.62 Kansas... 326 0.46 1.99 lowa 283 0.39 3.23 Louisiana 262 0.35 1.87 West Virginia 194 0.26 1.26 Mississippi 157 0,20 2.25 North Carolina 143 0.19 2.79 Texas 139 0.19 8.17 South Carolina 137 0.19 1.95 Alabama 126 0.16 2.52 Territories 1 11l 0.14 1.27Delaware 100 0.13 0.29. Minnesota 84 0.12 1,55 Arkansas 78 0.09 1.60 Florida 64 9.09 0.5 J Colorado 61 0.09 0.39 Georgia 58 0.08 5.06 Nebraska 55 0.07 0.90 Nevada,; 18 0.03 0.14 Oretgm 14 0.02 0.34 Total. 63,114 100.00 100.00 It is an interesting fact that Massachusetts, wiUwoaly 3>4 per cent, of the total population of'the country, has over 23 per cent, of the total number of bondholders, while New York, with over 10 per cent, of the total population, has 20 per cent, of the bondholders. Ohio has over 6 per cent, of the total population and over 5)4 per cent, of the bondholders. Illinois anil New Hampshire each have over 4 per cent, of the bondholders, while the former has over 6 per cent, of the population of tho country and the latter only 6-10 of 1 per cent. Oregon has the least number of holders, 14, and Massachusetts the highest, 16,855. Of the number of holders (73,114), 42,262 are males, 29,325 are females, and 1,527 are corporations, and of the amount hold the males own $327,185,600, the females $90,353,350, and the corporations $827,451,550. The average per capita tor the male holders is $7,741.84; for the female holders, $3,081.10; for the corporations, $148,953.20; and for both sexes and the corporations, $8,821.70. Of the $644,990,400, no less Rian $410,579,400 is held - in amounts of die r sso,Wioj $58,730,600 in amounts varying from $25,0f)0;t0 $50,000; $59,143,850 in amounts exceeding SIO,OOO and reaching to $25,000; $41,079,900 in amounts exoeeding $5,000 and reaching to $10,000; $33,070,950 in amounts exceeding $2,500 and reaching to $5,000; $22,032,550 in amounts of over SI,OOO and including $2,500; $13,097,250 in amount s of over stjpo and including SI,OOO, and $755,900 in amounts of less tlian SSOO. The general conclusions, Mr. Porter says, are that, while over 36 per cent, of the holders reside in the New England States, not more than 11 per cent of the aggregate of bonds are owned in New England. On the other hand, over 42 per cent, of the holders have their residence in the Middle States, and upward of 40 per cent, of the aggregate amount of bonds are hej,d in that section ; over 3J4 per cent, of the holders reside in the Southern States, and about 2 per cent of tho bonds are owned there. In the Western States are 15 per cent, of tho holders and nearly per oent. of the bonds. The banks and other corporations, representing in number only 2 per oent., own about 35 per cent, of the bondß.