The Democratic Whig. [volume] (Columbus, Miss.) 1842-1843, 1843-09-28

70 Let March 1913, 37,e3S
s------ -
Iso,3S3
Deduct this amOuntEfrom balance due the
State as above, to wit; 236.7S5, and il leaves
a balance % lst July Is43, Ia hyor
Of Safe. Of e6,4o2
Interest on this to Ist July 1874, III
$50
lo4I7l
Instament Of interest due BY the State on
the Igt July is44, on account OF Plan
tiers Bank bonds, II25ou
From which, deduct amounl due to
State as above. lo4I7s
.----s---
Balance against Stale on account
0fPanles Bank bonds on lst Ju-
y 1874, e,S27
From the foregoing statement i appears
that on the Ist July, fs44, al the interest due
on the Planters Bank bonds and the install.
ment Of principle amounting to one hundred
and twenty FIVE thousand dollars except tho
sum Of eight thousand three hundred and
seventy seven doars may be pad out OF the
Town Lot and Sinking Fund. We now sub
| join statement made out with q much accu-
racy as the ma ture Of the'subjeci is suscepti-
bic OF BY which Il is, as we think demoustra-
ted that the present rate Of taxaion doubled,
will be sufficient TO pay Of the annual expendl-
lures ofthe Government, and the principle and
interest on the Bonds issued fq stock in The
Planters and Union Banks.
In this calculation we have 10 included the
amount due for outstanding warants, TO wit :
three hundred thousand dollars, because we be.
hsvs the five hundred thousand acress 81
lano lately surveyed for the State, will Ibe
much more than sufficient 10 extinguish them
in order that the people mar correctly un.
I derstand the statement herewith appended,
twill be necessary to make some ekplana-
lions.
The last mstalment Of interest due On the
/ Mississippi Union Bank Bonds, was paid BY
the Bank on the 3lst August 1910; so that
there is now three years interest due on these
bonds, winch amounts 10 seven hundred and
fifty thousand dollars. This amount Of inter
es', we purpose, by the annexed statement to
be paid by the State in six annual lnstalmnnts
with interest Each instalment will consequent
| " be one hundred and twenty five thousand
dollars. We charge the state each year with
tie amount Of this instalment and interest on
i've also charge her with the annual
State expenditures, and with the interest
which falls due annually on the Union Bank
and Planters Bank Bonds. We also Charge
her with the instruments Of principal as they
seyerally fol due, and we then credit the
Stale each year, with the amount Of her nett
revenue which at the rate eff taxation We pro-
pose, will be SIX hundred and fifty thousand
dollars each year until 1850. twill then be
d00ltl, until ! 1853 when It will increase to
&SdNNU0, The data on which VIC calculate
that this amQuuf OF Revenue WIN ue received, Is
/ uis sI'he Assessment ofiaxes for the FISCAL
gsut et8ing blafch, f643 according to the
report Of the Auditor, was S327, 1888 69. This
however did not include The assessnentsrin
Washington, Pike, Jasper Yallobosha, and
Jones counties, and the Auditor says be is ad-
vised that in many counties, the assessment is
incomplete [Sea Report i auditor, page
and9l Besides this, we KNOW that the yalua,
ton IN many parts Of the State was much be-
| low the cash value Of the lands, and that a
| great quantity Of land not heretofore tax
ed, will be taxed hereafter. Taking all these
things into consideration, It may safely as
sumed that under the present revenue law, the
assessments for l944, as and g, will exceed
I l..
| 100000, at the present rate Of taxation. This
| amount doubled, will make the assessment,
amount to SS00000 each year. Deduct from
this Sl50eO0 for losses and commits toner's
| (Which as there is a lien on all the proper y
taxed, is quite liberal deduction,) and i will
leave S65O,00ll the nett revenue Of each year
al the rate Of taxation with which propose
to pay off the State debit This amount,
| (S650OOU we put down each year until $50,
although in each year it must necessarily To-
crease from the increase Of population proper
" &c. 10 1881, we put the revenue down at
/ S75OOt0, because by that time, the popula-
| ton aud property would have greatly increas-
ed /, and IN 1888 we pot The further increase
ofthe revenue at the same rate Of taxation al
/ SS90,OOO, The moderation Of this calculation
no one will 1t is presumed deny.
/ The State expenditures we have from the
best information we could get, put down al
| Sl75,O00 annually, though we believe il will
not amount to more than 10000 dollars.
We feel assured that # there is any excess
in the calculation, It is against the State
With this explanation, we ask candid exam
ination Of the subject. We wish the people
to be satisfied thai the rate o. taxation pro
posed BY US, although moderate, is ample Z
/ extinguish the debt; and we think, no man WIKI
has the interest Of the State at heart, win hes
itaie for a moment &c saying, if this is all thai
is required Of him, in the name Of the justice
let the debt be paid.
Revenue and Disbursements Of he SLATE O
Misassippi.
1S44-Annuali nstalment, being one
sixth part ofthe interest due on.
the Union Bank Bonds. 9l2500I
years interest thereon CPS
Interest on the Union Bank
bonds, 250,0O
Il To balance due on interest Of
Planters Bank bonds, See ga
previous statement
Annual expenses ofState, 1850
$685.
Balance doe State this year. s7,3S
] CIR -
BY Revenue this VI. 65O,OOO-65O,OO
/ lS45--Instalment ofintefest as
above, SI20,Ol
3 Two years interest, 1855
! Interest on Union Bank bonds, 250,0l
; Interest on Planters Bank
bonds, 1928
State expenditures, 1850
S67aO(
Balance IN favor Of State this
$ W 62s'
CIR 1873
e Revenue this year, $4,000
e Balance due f0r I546s7, 3O5- ,7s7.sl