80 THE FISCAL PROBLEM IN MISSOURI 
Missouri had larger interest payments than any other state 
in the group. The upward trend in Missouri’s interest pay- 
ments since 1923 has, therefore, been more gradual than the 
trends for the three states mentioned. The more gradual 
change indicated is a reflection of the fact that the bonds 
which have been issued by Missouri were distributed more 
evenly as to time than were those of the other states. 
As a basis for interpretation, the interest payments of the 
several states have been converted to a per capita basis. 
The per capita interest payments of Missouri amounted to 
£0.90 in 1928, $0.93 in 1927, and $0.53 in 1923. In 1928 only 
two states in the group, Arkansas and Minnesota, had larger 
per capita interest payments than Missouri, while in 1923 
Missouri expended a larger amount per capita for interest 
than any other state. 
1 This was also true for 1918.