FINANCES. 'rile l'onstitution prohibits the Leg islature from contracting any State debt exceed ing $50,000, or assuming the debt of any county, town. or corporation, except for purposes of war or to suppress an insurrection. Debts to the funount of 8237,000 were contracted in 1864 in order to pay bounties to soldiers and for relief of discharged soldiers and officers. The bonds were rapidly redeemed and in 1870 only $90,000 were outstanding. In that year the Legislature authorized the issue of $200,000 for construetion of a canal, to be redeemed from the proceeds of the sale of public lands. The Indian wars of 1574 and 1878 further increased the debt by about $175.000. Another debt was the 'in dorsed and unpaid' warrants issued in 1573-75 and bearing 10 per cent. for construction of wagon roads and other purposes. These high in terest bearing warrants were necessary because of the constitutional provision against bonds.
Altogether about $350,000 of these warrants were issued. By 1575 the public debt amounted to 8651,595; but the bonds and warrants were rap idly redeemed through a special tax on property.
In 1886 the debt was reduced to $53.632 in bonds and warrants, which were advertised for but not presented for redemption. In 1903 the State had no funded debt except 'bonds to the amount of $2365 never presented and probably lost. The income of the State is derived mainly from a State tax and sale of public lands. In 1901 the
total receipts were $1.772,808, of which 3S per cent. came from the State tax and 45 per cent.
from sale of lands and payments on old sale-con tracts and interest on the loans. The expenditures were 81,859.134. of which more than 50 per cent. went for educational purposes. Notwithstanding the deficit, the balance in the treasury on Sep tember 30, 1902, was 81,137.575.
PorutATIox. The population decades was as follows: 1850. 13.294: 1860, 52.465; 1870, 90.923; 174,768; 1890. 313.767; 413.536. Oregon ranks 35th in population, and is exceeded by both of the other Pacific Coast States. The increase from 1890 to 1900 was 30.4, as compared with 20.7 for the United States. Over half of the population is located in the Willamette Valley. In 1900 the foreign born numbered Chinese, 10.397: and Indians taxed, 4951. The male sex exceeded the female by 52.000. The five places having a population exceeding 4000 each. contained to gether 27.6 per cont. of the population.
The Indians are collected largely on five reser vations, namely, Grande Ronde, Klamath, Siletz, Umatilla. and Warm Springs. A limited amount of agriculture and stock-raising is carried on upon each of the reservations.