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Show Vast Debt Owed by Cities. The municipal debts of tho country aro approximately $1,(100,000,000 a sum larger than Is owed by tho federal fed-eral government and all the stnto governments. gov-ernments. Of the total it Is worth while to nolo Now York contributes, when all sinking fund deductions aro made, about one-fourth. The Increasing habit of American cities to mortgago the futuie Is one of tho marked governmental tendencies of the times. Although a marked lm-proement lm-proement has taken pLico In the quantity of municipal governments, whatever tho other gcod faults, thero is seemingly no disposition to lessen tho public burden. Tho theory seemingly seem-ingly Is that municipal resources arc practically unlimited. For a public servant to havo prejudice against debt creation Is considered proof that he is nn old fogy. Tho greater part of city debts rep resent money put Into buildings, streets, parks, etc., and no small part to meet administrative deficits. In view of tho slzo of theEe debts and tho little tho public has received from their creation, there cannot bo kept back a feeling of gratitude that tho prudence of tho last generation put Into statu constitutions clauses limiting limit-ing debt creation. Except for these clauses thero Is reason to fear, with extravagance and recklessness In tho air as It is now, municipal Indebtedness Indebted-ness would Increase much moro than $100,000,000 a year.- Exchange. |