The Cass County Republican. [volume] (Dowagiac, Mich.) 18??-1880, 1860-09-06

oD.St o.Up
Excess of interest paid by Republicans -
more than paid by Democrats S434, SIG. 40
Deduct excess OF tax by Republicans 107, ,232. .09
And it shows an excess of interest paid
by Republicans more than the entire
increase Of taxation, of s872, 2,os44s
And an annual average payment, more
than the annual increase, of S65, ,416.S9
This EXCESS of interest paid on
State debt, during the Republican Pc
riod is S179,SSO more than THE ENTIRE
INTETEsT PAID, and MORE than S64,-
500 more than the entire amount of tar
assessed, during the democratic peri
cd; and it is also within s34, Of
the entire surplus in the treasury when
the Republicans acceded to power.
The above tables also show very clear
ly, that in the annual tax levied during
the democratic period no provision at
all was made for from onc-half to three
quarters of the current annual expenses
of the State government, which aver
aged over S162,4 ,45s year. But we
will exhibit this fact more fully and
clearly by exhibiting the expenses,
taxes, interest paid and left unpaid,
and deficit for each of those five years !:
To show the condition of the State
finances At the beginning of the year
1850 (the first year of the above dem
ocrasic' period) we quote what Auditor
General Adam (demoerat said i'll his
report of Dec. ], 1S49.
"Thc expenses of the State govern
ment for one or two years longer are es
timated at about $65, 900. In order to
keep our State debt from increasing,
we ought, for the next year or two, to
have State Revenue of about 1885,
600. Estimating our income, from
other sources than direct tax, at about
$40, 900 year for the next two years
which is probably full as much as
will be realized-we ought therefore,
to have direct State tax of about
$145, ,OOO." Page s.
This estimate did not include the
payment of interest on the part-paid
bond debt" as Mr.. Adam says on page
5 of the report referred to;
:" If our part-paid bonds should be funded be-
fore 1851, the annual interest on our State debt
would then be about 10000; and estimating tine
expense of the State Government after that at
(onyl 1000, we should then require arevenue of
about $4,000 to barely pay interest on our State
debt and current State expenses"
Here, it will be seen, that Auditor
ADAM informed his democratic COM
peers in the legislature and State Ad-
ministration that direct tax of s145,-
600 aoould be necessary to meet the cur
rent expenses of the State during 1850,
ecclusiUe of "i,terest aceruing annual
ly" on the paid bond debt-which
was 81. .6S2, ,645 on the first of January,
1850, (as he says on page 35) and
which, at I per cent. per annum, would
amount to $1l7,7S5
Instead, however, of providing an
annual tax sufficient to meet these esti-
mated expenses the interest on the
debt" &c, the democratic admin
istration levied tax of only S113,-
76s-$31,232 less than the estimate
and neglected entirely to make any
provision for paying the interest S1l7,-
785 on the State debt. gp iiHs =.
The result shows that Mr.. ADAM did
not make his estimate high enough
for in December 1850, pages 24-5, he
reports the current "expenses to the
State government" s35
Amounting to F5 ne s1lS, ,3O7. AZ
Paid appropriation to Internal Improve
ment fund '. 10000 90
fald interest on State Debt 45,SS1. IS
Making total expenses iol 1913, 1s9. .95
Deduct tax levied S11376sO0
And specific tax received "a, ,4O4. 20-13s, ,172. 90
Shows deficit debt tax levied, So, OH. .55
To which add unpaid interest on 81 Isf
6S2,645 part paid bonds 117,7s5.OO
Leaving an aggregate of deficit of s172, ,So2. 81
of means to meet the "current expenses
and interest on State debt" which the
democratic" administration neglected
to provide for by annual tax, as re-
uuired by the Constitution. So mpch