1924. CONGR.ESSION AL RECORD-SENATE. 453.3 1911. Also, petition of 19 farmers of Cannon Township, Kitt­ l\Ir. FLETCHER ~fy colleague, the junior ~enafor from son County, 1\Iinn., urging the passage of the ~Ic~ary-Haugen Florida [Mr. TRAMMELL], is unavoidably absent. I ask that bill, providing for the relief of agriculture; to the Committee this rurnouncernent may stand for the day. on Agriculture. '.rhe PRESIDING OFFICER. Seventy-two Senators having 1912. Also, petition of five farmers of Lincoln Township, answered to their names, there is a quorum present. :Marshall County, Minn., urging the passage of the McNary­ SUPPLEMENTAL ESTIMATE OF APPROP:RL\ TION. Haugen bill, proviiling for the relief of agriculture ; to the Com­ mittee on Agriculture. The PRESIDING OFFICER laid before the Senate a com­ 1913. Also, petition of 32 farmers of Sinnott Township, munication from the President of the United States, trans­ Marshall County, 1\linn., urging the passage of the l\IcNary­ mitting a supplemental estimate of appropriation for the Dis­ Huugen bill, providing for the relief of agriculture; to the Com- trict of Columbia, fiscal year 1924, for the maintenance of mittee on Agriculture. · public convenience stations, in amount $3,000, which was re­ ferred to the Committee on Appropriations and oruered to be printed. ( S. Doc. No. 76.) SENATE. DERT ST A TISTICS. l\Ir. SMITH. l\Ir. President, I have some statistics from the TnuRSDAY, March £0, 1924. United States Department of Commerce, Bureau of the Census, giving the total gross and net debt of the National Government Tlle Chaplain, n.ev. J. J. l\Iuir, D. D., offered the following and of State, county, and city governments, and all other civil prayer: <lh-isions ha\-ing power to incur rleht. It is a very instructive Our Father, we bless Thee for all the privileges of life, and table, and I ask unanimous consent to have it printed in the ask from Thee help that we may so appreciate them as to live RECORD. according to Thy good pleasure. May we find that the ends we The PRESIDING OFFICER. Without objection, it is so aim at are our country's,· Thyself, Thine own, and Truth. So or<lered. enable us to walk in every pathway of duty that when the The matter referred to is as follows: reC'ord is made up we shall hear the "·well done" from Thy UNITED STATF.S DF:l:'.~IlT~Il'J~T OF CO.\DIERCE, gracious lips. Hear us! Be with us, 0 God! Keep us from BuREAU OF THE Cr:Nsus, going into wrong paths when so much is neces ary in these Washington. days of tremendous issues. 'Ve ask always in the name of PUBLIC DEBT. Jesus. Amen. TOT.AL GROSS AXD NET DEBT OF THE XATIOXAL GO\ERX.\IE~, OF STATE NA~fING A PRESIDI:NG OFFICER. GOVERN:llEXTS, OF COUXTIES, OF CITIES, AXD OF ALL OTHER CIVIL DIVI­ The Secretary, George A. Sanderson, read the following SIOXS HAVING POWER TO l:\"CuR DEBT, 1922 AXD 1912. communication : [This preliminary statement will be followed by a detailed report UXITED STATES SE:s'ATE, giving the statistics of debt. by counties, incorporated places, school PRESIDE~T PRO TEMPORE, districts, tO\Ynships, and all other civil divisions having power to incur Washington, D. C., March 20, 1924. debt.] To the Setiate: SCOPE AXD SU:llMARY OF THE STA'I-ISTICS. Being temporarily absent from the Senate, I appoint lion. SELDE~ P. PCBLIC DEBT. SPENCER, a Senator from the 8tate of ~Iissouri, to perform the duties of the Chair this legislative day. The statistics in this summary relate to the gross and net deht of .ALBERT B. CtJ.lllMINS, the Nationn.l Government for the year which ended June 30, · 1923. and President pro tempore. to the gross and net debt of the 48 States and the District of Colum­ bia, all cities, towns, villages, school districts, townships, drainage Mr. SPENCER thereupon took the chair as Presiding Officer. districts, an<l all other civil divisions having power to incur debt, for THE JOUR~AL. the ·fiscal year which ended in the calendar year Hl22. A summary The reading clerk proceeded to read the .Journal of yester­ is also presented of the debt of the National Government for the year day's proceedings, when, on request of 1\lr. CURTIS and by which ended June 30, 1922. All other references to the years 1922 unanimoru; consent, the further reading was tlispensed with ~nd 1012 relate to the fiscal years which ended June· 30, 1923, and and the Journal was approved. June 30, 1913, for the National Government. ,, The gross debt reported for 1922 represents all of the public indebt­ CALL OF THE ROLL. edness, including funded or fixed (long-term and serial bonds), ~pecial l\Ir. CURTIS. Mr. President, I suggest the absence of a assessment bonds, temporary loans, outstanding warrants, und other quorum. debt of every character, and amounted to $32,786,922,000, or an aver­ The PRESIDING OFFICER. The Secretary will call the age for each person of $301.56. ·The annual interest on this gross ~·on. debt outstanding, computed at tbe rate of 4 per cent, would amount to The principal clerk called the roll, and he following Senators $1,311,476,880, or $12.06 per capita. At H per cent and 1 per cent .imswered to their names: sinking fund the total charges would be $1,803,280, 710, or $16.59 per A.dams Ferris King Robinson capita. The actual amount lies somewhere between these figures. Of Ball Fletcher Ladd ,'hrppard this total debt the National Government represented 68.7 per cent, the Borah Frazier Lodge H!i ipstead Brandegee George i.\lcKellar ;;~ ortridge State governments 3.5 per cent,. the counties 4.2 per cent, incorporated Brou.;sard Gerry 5IcKinley •. mmons places 17.8 per cent, and all other civil divisions 5.8 per cent. Bruce Glass :\lcLeim ~mith The net debt reported for rn22 and for 1912 represents the gross Bursum Gooding McNary :-:moot Capper Hale ~layfiel<l t-5 penc-er debt less the sinking fund and other assets held for the retirement of Caraway llarreld Neely Htanfield such debt. The net debt amounted to $4,850,461,000 in 1912 and Copeland Harris Norris l:ltephens $30,852,825,000 in 1922, representing an increase of 536 per cent. The Couzens Harrison Odille Swanson Curtis Hefiin Overman Wadsworth average for each person was $49.97 in 1912 and" $283.77 in 1922. Dale Ilowell Pepper Walsh, M.ass. The gross debt of the National Government was $22,525,773,000 ·for Dial Johnson, Minn. Phipps Walsh, Mont. the fiscal year which ended June 30, 1923. The ind.ebtedness c}t other Dill Jones, N. Mex. Pittman Warren Edge Jones, Wash. Ralston Watson countries to the United States November 15, 1923, was $11,800,010,- Edwards Kendrick Ransde11 WeJler 245~ ar.d of this total $4,600,000,000 represents .the amount owed by l!,~rnst Keyes Reed, Pa. Willis Great Britain. The gross debt of the National Government was l\lr. CURTIS. I wish to announce that the Senator from $23,260,543,000 for the fiscal year which ended Jun~ 30, 1922, $734,- Iowa [Mr. BROOKHART], the Senator from New Hampshire [Mr. 770,000 greater than for tbe year which ended June 30, 1923. The l\1osEs], the Senator from Arizona [Mr. ASHURST], and the net debt, being the gross debt less cash in the Treasury, amounted to Senator from Montana [l\1r. WHF..ELER] are detained in a com­ $22,996,416,000 June 30, 1922, as compared with $22,155,886,000 June mittee meeting. 30, 1923. 1\Ir. l\1cNARY. I desire to state that the junior Senator GROSS AND NET DEBT. from Arizona [Mr. CAJl.IF.RON] is absent on account of sickness. In the table which follows is presented the gross and net debt for Mr. WILLIS. I wish to announce that my colleague, the the National Government June 30, 1923, and June 30, 1913, and for junior Senator from Ohio [Mr. FEss] is unavoidably absent the States and all other civil divisions, 1922 and 1912, the debt being from the Senate to-day. classified by character and by civil divisions issuing- '4534 CO~GRESSIONAL RECORD-SENATE. .MARCH 20, Gross and f!et debt oftJie National Go ernment, State goi;e;-11ments, counties, incorporated placu, and all other civil dioisions haoing power to incur debt. [Totals expressed in thousands.] Gross debt, 1922. Net debt: Gross debt less sinking fund assets. Division of Government. 1922 1912 Funded or Special Total debt. assessment A.ll other. fixed. loans. Total. Per capita. Total. Per capita. Grand total ____ -------------- _____ -------------------- $32, 786, 922 $25, 256, 787 $755, 462 $6, 774, 673 $30, 852, 825 $283. 77 $4, 850, 461 $49. 'R National (1923 and 1913) _____________________________________ 22, 5~5. 773 16, 536, 134 ------------ 6, 989, 639 2 22, 155, 886 203. 78 11,028, 004 IO. 59 Statt>s __________________ ----____________ -- __ . _-- ___ ---------- l, 162, 651 1, 064, 009 ------------ 98, 642 935, 543 8.64 345, 940 3. 57 Counties _________ -----------------_--------------- __ -------- 1, 366, 635 1, 165, 226 98, 347 103,062 1, 255, 211 13.00 371, 628 4.33 Incorporated places _________ _________________________________ 5, 840, Oii2 5, 011, 238 424, 904 403, 910 4, 708, 940 70. 80 2, 884, 884 54. 'J:! All other civil divisions ____________ ------------------------- 1, 891, 811 l, 480, 180 232, 211 179, 420 1, 797, 245 (I-) 219, 545 (1) .Alabama ___ ---------------------------- ____ ----·------------ 77, 945 65, 444 6, 409 16, 092 75, 198 31.