406 . INDEBTEDNESS OF THE UNITED STATES, OF THE STATES, ETC. 



Early in 1840 the question of the United 

 States assuming the States' debts, contracted 

 during the period described, was agitated in 

 Congress. The first figures that bear evidence 

 of authenticity, as showing the amount and 

 the purposes for which the State debts had 

 been contracted, appear in the speech of Sena- 

 tor Benton, made before the Senate in January, 

 1840, the figures being supplied by Mr. Flagg, 

 the Comptroller of the State of New York. 

 From these tables it seems that $170,000,000 

 of debt had actually been contracted or author- 

 ized by the eighteen States previous to 1840. 

 without counting the $28,101,644.91 received 

 from the surplus revenue funds of the Federal 

 Government. Taking into the calculation the 

 amount probably incurred in the period be- 

 tween the report of Mr. Flagg and the speech 

 of Senator Benton, together with the Florida 

 debt of $5,000,000, and making allowance for 

 possible omissions from Mr. Flagg's table, the 

 whole debt might then have been estimated at 

 more than $200,000,000. Eight of the States 

 of the Union at that time, viz., New Hamp- 

 shire, Vermont, Khode Island, Connecticut, 

 New Jersey, Delaware, North Carolina, and 



Georgia, had no debt. Maine and Missouri 

 were only nominally in debt, the former hav- 

 ing created but half a million of debt. 



The tenth census of the United States con- 

 tains not only a statement of the amount of 

 the debt of each State, but a history of the 

 details of each, showing the purpose for which 

 each sum was incurred, and the progress of its 

 payment. Previous to the war there was little 

 change in the amount of these debts, except 

 in those States which engaged extensively in 

 internal improvements. But in the period 

 from 1860 to 1870 there was a large increase of 

 war debts. For the purpose of showing the 

 aggregate of 1880, it is presented separately 

 for each division of the Union. 



NEW ENGLAND STATES. There was but little 

 fluctuation in the debts of the New England 

 States from 1839 to 1860, when there were 

 slight changes in those of Maine, New Hamp- 

 shire, and Massachusetts. Vermont had con- 

 tracted a debt for a new State-House. Ehode 

 Island and Connecticut continued to be free 

 from debt. The following table shows the 

 debts of the six New England States at six 

 different periods : 



* In 1870 New Hampshire had an extra debt of $65,000. 



t In 1860 Vermont had an extra debt of $24,636 ; and in 1880, of $135,000. 



$ In 1860 Massachusetts had an extra debt of $315,000 ; and in 18SO, of $9,360. 



.MIDDLE STATES. Under the title "Middle 

 States," New York, New Jersey, Pennsylvania, 

 Delaware, and Maryland are included. Of these 

 five States, New Jersey and Delaware have no 

 debt excepting that incurred for war purposes. 

 The former had in its Constitution of 1844 a 

 provision which prohibited the State from aid- 

 ing or in any way loaning its credit to public 

 improvements. New York, Pennsylvania, and 

 Maryland were among the first States to aid in 



the construction of canals and railroads, and in 

 loaning their credit to State banks. As early 

 as 1839 these three States were indebted to the 

 extent of $54,984,389. In 1842 Pennsylvania 

 and Maryland were obliged to suspend interest, 

 and New York was on the verge of bank- 

 ruptcy. 



The following table shows the amount of the 

 debt of each of the Middle States at six differ- 

 ent periods : 



* In 1841 New York had an extra debt of $4,235,700 ; and in 1860, of $6,505,654. 

 t In 1860 Pennsylvania had an extra debt of $180,721. 



% In 1841 Maryland had an extra debt of $5,214,761 ; and in 1853, of $5,356,224. The debt of the District of Columbia, 

 located in the Middle States, is $21,688,823. 



SOUTHERN STATES. The following table shows the amount of the debt of each of the 

 Southern States at six different periods : 



