Western union. (City of Hannibal, Mo.) 1850-1851, 1851-01-16

Deu"S. 'heso Two Hems, amounting to $34 =
900. exclusive Of the interest paid, from the
State debt, and IL reduces il to nine hundred
and twenty two thousand two hundred and six
ty., me dollars forty cents. From this may also
I'D deducted Two hundred seven,y.two thou
sand two hundred sixty three dollars sixty
cents, the amount Of State stock in the bank
the interest on which is p,id BY the bank out Of
the dividend, aud the bank is responsible to the
State for the principal.
IL the revenue laws should be 40 altered AZ
TO make il evident that the State will not have
sufficient available means from that source, to
pay her bonds at maturity, AMI the suggestion,
l have made, IN reference 10 tho withdrawal o'
the University and common Srh,, in.ds from
the bank. DO adopted by the legislature, then.
such an arrangement can be made, as will eua-
ble the State ~ take AS loan from these funds
an amount sufficient 10 pay those bond,. And
upon the sum thus borrowed, to ny semi an
nual divldends at tho State treasury, at the rate
OF six per cent. per annum.
! l am confident that this arrangement will,
give to the University a Lsrmanencs and the
means of advancement, which il has so much
peeird heretofore. And until the State i, able
To pay her debt by the ordinary operation of
her revenue Laws, il would w we'll to cnnver,
this debt, as far II possible. into u loan from
the Common srh"ol fluid Tn. interest To b.
paid 10 the shape Of semi annual dlvidend.,
will br sent 10 every county in the STATE from
whence il had been collected. and p,id into the
State Treasury as taxes.
The system Of assessing and collecting the
revenne, irnm atax upon land, ha, in it, radical
defects. which require some Legislation. From
an examination of the records in the ofic. of
Register of Lands. il will be seen tha, ther.
vas. on the first day of June last, standing in
that pilice, Is 465 tracts of land, which had
been advertised, sent out to the proper conn.
ties, and Offer ed for val. for the take, Of prev
ious years, and not sold, but returned as for
felted, and Mpon which there was at that time
due to the State $l5 1862. These two item. uf
forfeited and delinquen, lands. show the a,no,,u,
OF State tax due up to the first OF June last, to
be about 3d. 1862 dollar.. These lands have
been advertised and were ffsred for sale in
October last, with view 10 collect the taxes.
The report of sales made TO the Register of
Lands. shows that an amount has not been re.
ueivrd sufficient to remunerale the State for
expenses incurred in advertising and paying
collectors and clerks fees.
the adoption of this system IN correcting the
delinquen, list, and it will also. greatly lacili -
tate the business of the collector IN the receipt
of taxes. Unier the present mode of assess
ment, and the many errors which occur in car
rying its provisions into effect it is impossible e
that result. should be different from what they
are. When lands subject to taxation are offer.
ed for sale, there is in many of the counties
such a want Of confidence in the correctness of
the proceeding anterior to that time. that men
arc deferred from buying, and the lands are
returned to the State as forfeited, with an accu-
mutation Of costs.
1t often happens, al,o, tat tho owner Of these
lands, seeing they are assessed by the wrong
numbers, declines paying the taxes on them,
knowing that a sale Of them would not afrtc,
the title TO his land.
Much revenue is annually lost to ,le Statr,
by the failure of assessor. in m.nv f ,h. com
lies, to perform their dn,y IN n.r'r,unng nud
assessing property at its then ca,al, inl'i"n 20
II is frequently the case that property !. as,-ss
cd at not more than one half the valn" the own
ers would put upon It, il asked - d. 50. Thi.
lis doing great mi Justice to thos. VIII, are cor.
rec,ly assessed. ani mus. deprive the State oi
a very considerable amount of revenue annual.
lv. Some idsa may b. fnrned of thi, delin-
quency, by lo"king int" the aggregate staternen,
Of the value OF property assessed IL each coun
ty in the State for series Of years.
| have examined the aggregate statement ~
til. taxable property for the years lS48, 4e
anI so it, on. of the medium counties, which
h> for years been steadily increasing in wsatl
snh population, and ye, fad Ihi. statement t,
show that tn. revenue was upward. Of 6Ot
!..illr. les ~ lSi9 than II wa. III 1913; and
Inr the year 1850 It sa- upward. Of 1900 dol
! ar, more lhan i, was in lS49. Thi. is hut .
.,mple Of the rreguar,ty Of assessment, and
by comparison. such cases will bs found 10 OK
it in many counties in the State.
BY IN set Of the las, Legislature, the Cover
nor wa, auihor'z-d to dispose of tha, portion
%, the land, (part Of the 500 900 acre grant,
, which had no, been previously selected hy tn,
State, amounting tn 900 and 38 lOOth, acres
/ In accordance xith the provisions Of this law
, | have sold the same for 252 dollars 98 cent.
: being one dollar twenty five cent, per acre,
which has been paid into the treasury.
| by an act Of the last Legislature, commission
. ers we're appointed to cell the State iobacc
warehouse, situated in ST. Louis. The Cover
nor is, by the law, invested with power to ac
cep. or reject any bid made for the property
= But one bid was made, and ito amount was 20,
q 525 dollars. This, considered not a fair pric
# for so valuable piece of property, and felt
S my duty to reject It, and in thi. opinion tn
n comDs' toner's concurred with me.
y The property ost the State %. 900 dollsrs.-
= Interest upon this amount. at ten per cent. =
!. the interest the State is now paying on the to
= bacco warehouse bonds up to the lst Of Oc,'
Is bar last 1888 dollars 33 cen.s, ard the onl
r. remunerating compensation the State has re