The Tiffin tribune. [volume] (Tiffin, Ohio) 1848-1859, 1858-01-01

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Il will he seen that the taxable valuation Of
the State was greater In 1857 Than IL 1856, bnt
less than In 1855. Tho dilIe ence vas OCCASION
ed, In part by the exemption from tauanou Of
the eEcesa " credits over uobis. BY the act Of
April 1856, aud 10 part by The rule prescribed
n the same law for ancefaining the taxable
property uf hanks and bankoa This iule re-
quirra two statements uno Of the amnunt of
notes and bill dlscuuntod aud an other proper-
~ and dues # every description belonging to
he bank; aud provides that q rate shall De
charged upou the ppperty embraced -
drat abatement, which will produce M
which would be produced BY the rate
on the property Of individuals, if levied upnn
The properly embraced In the secund This
rule haa been iound very inconvenient IN prac-
teal application, and has affnde an oppartu-
nifty tr Withdrawing considerable amount Of
prnperiy from ita just proportion of the public
burdens. II Il tnn clear fir question that prop-
erly employed in banking should bo assenasd
equally with other property. The decisin,i Of
the Supreme Court Of the State supplies n sat-
isiactory rule Tor azceriRIBing Whntthis prnper-
~ Ia. repeat, therefnre. my recommendation
addressed 70 the last General Assembly that
the law he 10 amended az 10 require all proper.
" employed In banking 10 be embraced In one
schedule and entered upon tho duplicate for
laxa'ion, at the aAne rate ss is imposed on other
property.
The foregoing schedules also show that while
the amount " Stlle taxes has been sieadily re-
duced during the last two years, the amount of
county aud municipal iaxes largely reduced
In 1856 ffom 1855. have Increased, though not
40 largely in 1857 frum 1855
IL IA worthy Of consideration whether some
urlhnF limffnTfuu fIn e
county aud municipal authorities may not he
uHeiully Imposed. ] respectfully recommend
alsn that provision he made by law fr the coll
lection oi taxes semi-annually instead uf annu-
ally a. a. present In thai case there need be
nu accumulatiuns IN the State or County Treas.
uries, hut the money II the people will remain
in their own hands I'LL actually wanted for pub
lio purposes
The public debt Of the State. of all de.orip-
tons. appears 10 the following statements
FOREIsN Ann D0HEsTo STATE DEBT oF OHIO.
Coua iiioA q tAs Fo-sga aad raasste sfats Dan sf
Ohao, o. fas lsi JaHHarg 1855.
Foreign n.b. payable in New elm debt p'idsSs5s sS
JsS.i,isss sbad's tsS,.
stibe pleasure aftl'v state
a'ter ths 8iat Deer i90k giOQ6 coo 90 AL aso % .
SiX per en- atork payaho
atthr 9lea m oft6e state
a, arc, che sls. l,,o, 1880. sGsssS a1 SssIOO 50
III per rent hfoch Vfbe
=, si,sI ,ss I si,i Gsei isis a.IssSs' % is.ou 81
sf,.. ,Es 81, Der. is!s, 100000 90 OsoOO 90
atthep'ea me ofihestats
'"'' the sat Deer i'sS at,oooo 60 l'4c@ 90
Total amount OF foreign
s''' d'S',,.--'.---'.-.. ,,s,s, ssl % 80, on "a
Domestic debt payable At
&C eol,gg@nS., tottl su,ooaI s2l7,aos 81 slssas 10
sac s, s.S, g;,, 49,. Iss0oOoI 81 So sa4 ss
''l-----..---...--....--- asosc2r 70 lG sOa ~
Total State d-bt Of an de.
Horpoons -r---.---.---- sibao2 oo5 IS 1851 asa %
The irreducible debt is composed OF the nro-
oeeds OF lands granite by Congress for education
al and religious purposes, which have from time
70 Time been paid over 70 the State and Invested
In public improvements or otherwise unaar
pledge Of faith that ak per cent. upol, he snms
received shall be annually appropriated 70 ibe ob-
iects Of the several granite. A. there YET renaina
a noonsideIeble anm to be derived from these aonr-
oes, this iTTedueihle debt uust be aradusilv aue-
mented. The GeueTa Assembly has heretofore
wisely directed, That all moaies thus received
shall be paid into the Sinking Fund to be applied
Ia the reduction Of the f0Teign and duinestio
debit and there is no probability that this policy
will be changed.
Il Is 70 be- regretted that prior TO the act Of Aprl
II, 1887, no provision WIS made for keeping the
Sinking Fund separate from other money in the
Treasury or etiectualy securing ia exclusive sl,-
phcadOn 20 its intended uao on the confriry. de
General Assembly bad in several iustapoaa diia.i
Cd ifansiera Of this Fund 70 Genoral Rsvenue. ma
thus required its application 10 ordinary exptndi-
tuFes. IN my judgement thiG practice 3 not fo ~
approved or even jusuaed, except Ia ease Of ab-
8Olute necessity.
Irecommeua that pfoylsion ia made for Al.
restoration % the Sinking Fund Of tho amounts
Withdrawn nom Il, IN order that TIA ontira bai-
ance properly belonging % that hind NAV brssie
~ invested and reserved for Ia Legitimate ohieca
The principal Of the State debt has been -
daeed ~ during The pas. year By the payment Of
tiVA 2ot 90 derived chiefly ff0m the pr6nium of
the loan OF S2.400,uO0 negoiafod 10 discharqs me
amount which Docatn9 payable a0or 1854 Oftho
remaining debt, the sum OF 0,tls 626 aT viii b.
come pa9aeie q, the pleasure o. ihe Sirte a any
time eitof the 6lst OF December, 1880 Thetprms
Of this eoutrnct exclude the idea IN oblo1fion ~
pay at that times but Il viii doubtless IS IN, poo
iufp OF tho state % pay very large part n not the
gn9ie 9 q thls eseot - soon as Che right fc pay
which may be sold, should Be- exolusirsly devo-
ed 70 this purpose, aud provisioHk 8hould bs made
Z Q moderate addiuouallevy will effect no ohioct
y sul.lelent spm % disehplRe q least one ihiTd
lvor 10 many Of tho following JeaTa a. wiil bsihf
"a payment within iha reach Of moderate faS.iion,
p lmnediaie payment II preferred by IA uedi-
ora, may ho made In new honda hsarnn itan
ate Of interest, aud payable at sneh tniea "a 40
!enefni Assembly may see % 20 direct Under
" cifcnmtQucee tho lutofost 0n the entro dabt
must Pc Ponetaally paid nnd tEe credit of 90
be people Of Ohio win cheoffully anbmlt .o ~
100 excessive rate Of la1atiOn y aainqed baeon0
esad venture, thai tho proeeedn WI b fene.l1
nd puuctually Qppled in dfchgfga cI = daDl. tho
ltennt Of whlch constitutes 81 arge ~ e0nual
ran upon tonlT roaopfcea
Exlsung laws require ia appoinimonl "a
rAnsiof egeni and heerna ai New iplt. md
.so'att tne Qona.pf oi c1pcte and Iht NtIafuI
Interest ana delt through hIa a10ntl I4na.
peee hef tneAn iho danalF o| colN iiG Qaeru