Democratic banner., 1851-03-03
AUDITORS REPORT.

AUDIIOh'S kEfOhI.
The following remarks OF DR.. Wilson Brown,
Auditor of public accounts, presents in as short
a space as we can put it, the financial affairs Of
this State at this time. A perusal Of this por-
tion Of the Auditors Report will give the reader
very correct and authentic narrative the con-
dition of the treasury, and the revenue Of the
State arising from objects of taxation in :he df-
ferent counties:
The State debt, exclusive Of the Surplus
Revenue" deposited with the State, is, as exhib-
tied by the foregoing statement 1922 ,26l 90,
that being the precise amount Of State Bonds sold
and now outstanding.
The Report of the late Auditor Of Public Ac-
counts shows that the debt of the State was, on
the lst day Of January, l849, $956,27l co.
Since that time one bond issued to the branch
bank at Palmyra, under an act entitled "An act
to authorize the Governor of the State of Mis-
souri to borrow money" approved March l4th.
lS45, for fifteen thousand dollars, has been re-
deemed, cancelled and filed in this sfice; and
and twenty-three other bonds. issued to sundry
individuals, under an act entitled Gan act to sus
tain the credit Of the State," approved 18th Of
February, 1916, amountingt to $l9, 900 90, have
been redeemed BY the State Treasurer, and are
now on file in this office. These two sums, maxi
ing 1884, 600 90, being deducted from 1856 .26l,
. the amount Of the State debt on the lst Of jan
uary, ls49, will leave the present debt as above
stated, $922, PSI 90.
Ifthe stock in the Bank Of Missouri be equiva.
lent to money, from that might very properly be
deducted $272, 1853 60, the amount Of Bank stock
owned by the State in her own right, which
would reduce the State debt to $649, 1897 40.
The dividends which have been declared BY
the Bank on the Sinking Fund since the 4th Of
February, 1912, and which new amount to %, :
l2l IL, including 1916 AZ, not reported until
October last. have not been re-invested. II
these dividends be added to the "Sinking Fund, "
which is $6, 6,273 66, will increase that fund to
90, 1894 70, which sum should be deducted from
the State debt % above, and will reduce it Ia
$640,602 62.
The Bank, however, claims balance due her
by the State up to this day, for money advanced
and interest thereon, amounting to $l24, ,026 A.
which if added to said debt will increase il tc
$764, ,629 90.
The revenue for taxes received at the Trea.
sury within the two years, ending 30th Septem.
Der, 1850, is $500, ,735 20. The amount of wsr.
rants drawn during the same period on the rev.
enue fund including Especial Acts" is 1884,.
O70 81. From this last sum, in order to arcer.
tain the ordisary expenditures Of the State for
the two years, should be deducted $39, ,297 46,
the amount of warrants drawn under Especial
Actst" including $l5,0O0,00 paid to the branch
bank at Palmyra. This sum, $39, ,297 46, the
amount Of the extraordinary expenses Of the
State for the two years ending Both September,
1850, being deducted from $254, ,070 81, the to.
tsI amount Of warrants drawn on the revenue
fund during that period, will show that the or
dsaayT expenditures Of the State for the same
period amount to SHAT S5.
:, The revenue for the last year has been in.
creased over that Of the preceding one sec, ,684
81; and It 10 believed that should the present
rate Of taxation be continued, the revenue for the
next two years will not fall short of $625, ,OO0,.
600.
Il j. estimated that the ordinary expenditures
fof the nexttwo years will not exceed 1920. 900
90, the interest on the outstanding State bonds,
which il annually about 81, 600 90, and Special
Acts making appropriations out of the State
Treasury, are not included in the estimstes of or.
diaa,y expenditures. ......
Ii The bank declared dividends in 1S49 on the
stock owned BY the State, and bonus on stock
owned BY individuals, amounting to $28,54l 02
and in 1850, on the same stocks, 16, ,972 lS. max.
ing the dividends for the two years, $45,5l4 TO-
which sum has been applied to the payment Of
the interest on the State debt az provided by law
Taking the foregoing estimstes Of receipts and
expenditures as basis, should the present rate
Of taxation be continued, and the bank declare
such dividends for the next two years q should
reasonably Be expected, there will remain in the
treasury 1t the expiration Of that time, alter pay
ing the ordinary expenses Of the government
and the interest that will accrue on the State
bonds, net less than $250,o00 90. Whatever
appropriations the Legislature may make by ype.
eial scts during the present session should be
deducted from that sum:
In elosing this report, the Auditor Of Public
Accounts must Be permitted to congratulate The
0sssral Assembly on The fact that Missouri will