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Popular Government, Vol. 2: April 1935 (Classic Reprint)

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Excerpt from Popular Government, Vol. 2: April 1935 We have on the opposite page a chart showing. The ratio of total debt load of the 100 North Carolina counties and their subdivisions to county property valuation. While some of the figures used in the preparation of the chart are estimates and all the figures are not as of the same date, the chart is sufficiently accurate Excerpt from Popular Government, Vol. 2: April 1935 We have on the opposite page a chart showing. The ratio of total debt load of the 100 North Carolina counties and their subdivisions to county property valuation. While some of the figures used in the preparation of the chart are estimates and all the figures are not as of the same date, the chart is sufficiently accurate for our purposes. Let us consider these groups as shown by the chart. We see that there are six counties in which the total debt load is less than six per cent. In this group we have no counties in default, and but one town each in two of the six counties is in default. These two towns are small, and the amounts in default are not serious. In the group having a debt load of six to eight per cent we find' eleven counties of which four are in default; and in the group eight counties of which two are in. Default. The defaulting counties in these two groups are small agricultural counties whose products have not felt the lift in prices afforded other products by our national policy of agricultural control. However, in six of the thirteen counties not in default there are political subdivisions in default. In these six counties the county debt in each case is less than six per cent, and in one is as low as two per cent, of property valuation. In these cases the clear inference is that the subdivisions probably over-extended their credit. In the next group those counties falling in the ten to twelve per cent class we find eighteen counties, of which seven are in default. Only two of the eleven counties not in default have a debt load as high as eight per cent, and in these two the county debt represents the greater portion of the total debt. The necessary tax burden is thus distributed over the entire county without a particular hardship on any group, there being no subdivisions having a heavy debt load. On the other hand, each of the default ing units have subdivisions which are also in default. In the group having a total debt load of twelve to four teen per cent we find five counties of which three are in default. The two counties not in default present a con trast - one having a debt ratio of two per cent and the other a ratio of over twelve per cent of valuation. How this latter county has maintained its position the writer does not know. It is a fairly small agricultural county with a very small valuation, and it may be that the county' s running expenses are low or that annual maturities are very small. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.


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Excerpt from Popular Government, Vol. 2: April 1935 We have on the opposite page a chart showing. The ratio of total debt load of the 100 North Carolina counties and their subdivisions to county property valuation. While some of the figures used in the preparation of the chart are estimates and all the figures are not as of the same date, the chart is sufficiently accurate Excerpt from Popular Government, Vol. 2: April 1935 We have on the opposite page a chart showing. The ratio of total debt load of the 100 North Carolina counties and their subdivisions to county property valuation. While some of the figures used in the preparation of the chart are estimates and all the figures are not as of the same date, the chart is sufficiently accurate for our purposes. Let us consider these groups as shown by the chart. We see that there are six counties in which the total debt load is less than six per cent. In this group we have no counties in default, and but one town each in two of the six counties is in default. These two towns are small, and the amounts in default are not serious. In the group having a debt load of six to eight per cent we find' eleven counties of which four are in default; and in the group eight counties of which two are in. Default. The defaulting counties in these two groups are small agricultural counties whose products have not felt the lift in prices afforded other products by our national policy of agricultural control. However, in six of the thirteen counties not in default there are political subdivisions in default. In these six counties the county debt in each case is less than six per cent, and in one is as low as two per cent, of property valuation. In these cases the clear inference is that the subdivisions probably over-extended their credit. In the next group those counties falling in the ten to twelve per cent class we find eighteen counties, of which seven are in default. Only two of the eleven counties not in default have a debt load as high as eight per cent, and in these two the county debt represents the greater portion of the total debt. The necessary tax burden is thus distributed over the entire county without a particular hardship on any group, there being no subdivisions having a heavy debt load. On the other hand, each of the default ing units have subdivisions which are also in default. In the group having a total debt load of twelve to four teen per cent we find five counties of which three are in default. The two counties not in default present a con trast - one having a debt ratio of two per cent and the other a ratio of over twelve per cent of valuation. How this latter county has maintained its position the writer does not know. It is a fairly small agricultural county with a very small valuation, and it may be that the county' s running expenses are low or that annual maturities are very small. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.

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