are but six small cities in the long list without debt. In some the amount is enormous, the city debt in cases running up to one hundred and one hundred and fifty, and two hundred dollars per inhabitant. That is, there is a city debt on each man, woman and child of two hundred dollars. On this amount interest must be paid, twelve dollars per year, one dollar per month for every man, woman and child.
There lies also on the table a report of the financial condition of the nearest great city. It is rendered in a cheerful mood and declares the city's credit "tip top." The indebtedness is eight millions, but the assessed valuation of the city is so high that two million more bonds can be issued before the limit of indebtedness is reached as established by the general law. This is regarded as a most favorable showing and the assurance is given that all the contemplated public improvements can be pushed without interruption. There is no thought of stopping until the extreme limit is reached.
This habit extends to the churches and benevolent enterprises. There is scarcely a church that is not paying interest on some debt. Local societies are often greatly hindered in their work. A benevolent agency of one of the largest and richest denominations issued a piteous appeal to their constituents for help, declaring that the interest on their debts amounted to one thousand dollars per week.
The debt habit has seized the nations and the most enlightened. This is so true that debts are, in pleasantry, spoken of as a sign of a nation's progress. These aggregate billions are rapidly increasing.
The Chancellor of the Exchequer says the debt of England was reduced five hundred millions in twenty years. To the astonishment of all the world, the United States began to pay her debt, eighteen hundred million, in thirty years. But these stand alone among the nations. The national debts do not grow less, but are rapidly increasing. Both the