shoulders of the average citizen, being only one third as great
as that of the nation
The state debt, however, rests still more easily on the
shoulders of the average citizen, being only one third as great
as that of the nation. The total state indebtedness in 1913 was
$422,797,000, and the net debt--that is, the total debt less
sinking-fund assets--was $345,942,000, or $3.57 per capita. The
net debt increased by 44.5 per cent. between 1902 and 1913, and
the per capita net debt by 18 per cent.
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