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A Formula for Limiting State and Local Debts

B. U. Ratchford
Quarterly Journal of Economics 1936 51(1), 71
I. The problem of debt limitation, 71.— II. The theory of limiting debts in terms of assessed value of property — theoretical and practical defects, 73.— III. The requisites of a good debt limit, 77.— IV. A proposal for limiting debts in terms of average revenue receipts — merits of the plan, 79.— V. Details for the practical application of the plan, 84.— VI. Comparison of computed debt limits with actual debts, 87.— VII. Conclusions, 89.