slightly larger, the total wealth of the United States surpasses by far that of any other country. The per capita distribution, as shown on the map, will surprise some readers. It is over $5,000 in Nevada, and over $2,500 in California and Montana, whereas it is under $2,000 in New York, Pennsylvania and Massachusetts. It is greater in Iowa than in Pennsylvania or Illinois. The form of wealth is in round numbers distributed as follows: Real property and improvements, 63 billion dollars: live-stock and farm implements, 3 billion dollars; manufacturing machinery, 3 billion; gold and silver bullion, 2 billion; railways, 11 billion; street-railways, etc., 5 billion; manufactured products, etc., 18 billion.
The total national, state and municipal debt of the country in 1902 was about two billion, seven hundred and ninety million dollars, or $35.50 per capita. This is an increase of about SOO million dollars since 1890, but a decrease as compared with 1880. The accompanying chart shows the distribution of this debt, the most striking fact being the steady decrease in the debt of the national government and the increase in municipal debts. This is of course a gratifying change, the national debt being due to the cost of war, and municipal debt in the main to improvements of lasting value. The per capita national debt has decreased from $60.46 in 1870 to $11.77 in 1902. As the rate of interest has very greatly decreased, the burden of the national debt on each individual is now comparatively slight. It would, however, seem to be only the prudence that is expected from each citizen for the whole nation to pay its debt without undue delay. It is a question whether it would not be wiser for municipalities
