The fiscal problem in Missouri

Bibliographic data

Monograph

Identifikator:: 1833271335

URN:: urn:nbn:de:zbw-retromon-230042

Document type:: Monograph

Title:: The fiscal problem in Missouri

Place of publication:: New York

Publisher:: National Industrial Conference Board, Inc.

Year of publication:: 1930

Scope:: xvi, 359 S.

Digitisation:: 2022

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter II. State and local indebtedness

Collection:: Economics Books

62 THE FISCAL PROBLEM IN MISSOURI which a large amount of bonds are issued. This would be the case if retirements exceeded new issues or if sinking fund assets were increased by an amount larger than new issues, or if the two factors in combination were more than suffi- cient to counterbalance new issues. It is important to remember that the change in net bonded debt from year to year involves consideration of new issues, retirements, and change in sinking fund assets. Net Bonded Debt of Missouri and Other States The net bonded debt of Missouri at the end of 1928 amounted to $64.4 million, as is shown in Table 18. Be- tween the close of the fiscal year 1927 and the close of the fiscal year 1928 there was a decline of more than $1 million. No state bond issues were floated in 1928, and the decline indicated is therefore directly attributable to retirements and change in sinking fund assets. The increase in state net bonded debt was particularly marked between 1922 and the end of 1926. In 1921 the net bonded debt of the state was only $1.5 million. The $25 million of new issues floated in 1922 resulted in a tremendous increase in net bonded debt, which at the close of the year amounted to $25.9 million.! In 1923 there was some increase, but the principal increases occurred in 1924, 1925, and 1926. The net bonded debt of Missouri is also shown on a per capita basis in Table 18. From $0.05 in 1913, the per capita net bonded debt of the state increased to $7.96 in 1923, $14.57 in 1925, and $18.40 in 1927. At the end of 1928 the per capita net bonded debt was $17.98. In Chart 2 the per capita net bonded debt is graphically presented for the years 1913, 1918, and 1923 to 1928. In interpreting fiscal statistics it is important to compare the data for other similar governmental divisions in order that the relative position of the government under con- sideration may be determined. For this reason data for the net bonded debt of 11 other states are included in Table 18. This table shows that at the end of the fiscal year 1928 the net bonded debt of Missouri was exceeded by t Computed from data in Financial Statistics of States, 1922, published by the United States Bureau of the Census.

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