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

STATE AND LOCAL INDEBTEDNESS 71 slightly more than $90 million in 1928, or almost 609, of the total local net bonded indebtedness in the state. In 1923 and later years the net bonded debt of Kansas City exceeded that of St. Louis City. School indebtedness of Kansas City is considerably larger than school indebtedness of St. Louis City, and this fact accounts for the larger total in the case of the former. Comparison of the city data for recent years indicates that the net bonded indebtedness of the four cities has been increasing at a more rapid rate than total local indebtedness; the increase for the five-year period 1923 to 1928 amounted to almost 2009. TaBLe 23: Missourr State AND Local Ner BonpeDp Dest, 1928 Computed by National Industrial Conference Board Tvpe Sate. ......s ocala State and local... . Total Net Bonded Debt in Thousand Dollars Lyf Per Capita 17.98 42.70 60.68 Percentage Distribution 29.6 70.4 100.0 Ratio of Net Bonded Debt to Wealth Per Cent 0.57 1.36 1.93 ComeINeD StaTE AND Locar Net BonDeED DEBT Probably the most significant interpretations of indebted- ness are obtained by considering combined state and local net bonded indebtedness in relation to population and wealth. Table 23 shows that the per capita state and local net bonded debt for 1928 amounted to $60.68, and the ratio of state and local net bonded debt to wealth was 1.93%. Both of these figures are considerably lower than compar- able figures for the United States as a whole. It appears, therefore, that, although both the state government and the local governments in Missouri have issued a large volume of debt obligations and have increased their indebtedness at a rapid rate, Missouri’s state and local net bonded debt on a per capita or wealth basis is below the average for the United States. Cost or MONEY TO THE STATE oF MISSOURI Any consideration of the cost of borrowed funds must take nto account a number of factors. In the first place, the

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