The weekly Portage sentinel. [volume] (Ravenna, Ohio) 1854-1861, 1860-01-11

lhere were also collected on the grand list,
for schools, but as part OF the levy for Sink
ing Fund, l53,695, ,069 dollars. This sum
was the interest on the IrreducibIe Debt
created BY the appropriation OF the proceeds
OF the school lands to general State purpos.
es. The two sums, with the balance from
'he preceding year, formed on aggregate, for
school purposes, OF l,4lS.647 dollars, o
which were disbursed 1868 923 dollars
leaving balance of 52,7l9 dollars.
The amount collected for School Libra
ries. already stated, with the balance for the
preceding year, was SO,l73 dollars, Thu
amount dsbursed was 1853 dollars, lesv
ing balance OF 593 dollars.
For payment of debt and interest, there
was collected from Levios, ,029, 1874 dollars
; OF which TAO $40 dollars were for the gene
raj purposes of the Sinking Fund, and 2ss,
l54 dollars were for the reimbursement G
the Temporary loan. There were also re-
ceiVed for the Sinking Fund, from SurpIu:
Revenue deposited with counties, from sales
OF School lands. from CannI, Turnpike and
Railroad dividends, and from few other
comparatively unimportOnt sources, las, ,95a
dollars and there wers returned to the
Treasury, of money drawn for the paymeo
OF interest. 28ll2 dollars. These sums
with the balance of 81 O20 dollars from 1853
amounted TO l 270 238 liars, which wa,
the amount applicable to Sinking Fund pur.
poses in 1859. OF this amount, BS3 O7O dol
lars were used TO pay interest on forejon
debt; 1926 dollars on the domestic debt
t l53 800 dollars on the irreducible debt. 10 :.
759 dollars were applied in payment of the
I hQ -
| GLIDING the cost OF vault for their Office ::
1880 dollars in discharge of claim ordered
to be paid by The last General Assembly !:
and 62,52S dollars in purchase of bonds OF
the temporary loan, and other bonds TO be
u,ed in its payment. The aggregate expen-
dlture was l4l 6S4 dollars, and balance
was lett in the Treasury of l28, ,554 dollars.
1t will be seen that the revenue provided
by law for the payment Of interest on the
Public Debt, not including the Tenn.
porary Loan, wos insufficient for that pur.
pose. The amount wanting was about
$ll4,OOO. There being, however, in the
treasury large sum belonging to the Sink
ing Fund, derived from the levy for the
Temporary Loan, but not needed for it's nav.
ment ill next March, it was thought better
to supply this deficient amount from that
source than to resort to the power to impose
additional leVies, vested by the last General
Assembly In the Auditor of State. The
public interest was perhaps best consulted
in this action but it involved department,
from that provision OF the Temporary Loan
Act, which requires the proceeds of the lev.
les for Its payment to be absolutely reserved
from all other applications and it NAV well
he questioned whether anv advantage gain.
ed by such departure ought to prevail over
the conside'a tions which epion strict com
p'iance with the law. 1t is obvious, how
ever, that the additional leVes necessary t,
provide for the interest of the debt shoul,
have been imposed by the General Assem-
bly, itselfI fully advised Gs it was as to tht
amount of interest and the inadequacy of the
provision made for it. The responsibility
, of the necessary taxation should have beer
assumed by the Legislature instead of being
imposed upon the Auditor. .
A tabular satemeut appended to this com.
municltion, and numbered /, exposes q,
one view the nunber OF acres of land on the
Grand List, their value, the number oftaxable
town.lots and chottles, the several aggregates
OF State, county and local levies, aud the
rates OF levy Tor State purposes in each OF tn:
last eight years. 1t will be seen that the av
/, erage rate OF taxation in the first half of tha
time exceeded considerably that in the las
!; half while the aggregate revenue of the
last half exceeded that of the first. Thil
result was produced by the larger average
, basis of toxation in the last period. More
Than the whole excess of levies was fol-
!, cp nd nf Iokt
!, contracted in the first period.
Another tabular statement, numbered ii
will show the yearly disbursements for Leg
islatve, Judicial aud Executive expenses
for the expenses of tho Benevolent and Re
formatory Institutions, and on account o
the Public Works, for three periods of fou
, years each-the first Immediately preceding
and the two others Immediately followin!
tbs adoption Of The existing Constitution
: 1t will be seen upon inspection of it, tina
. the expenses were largely increased ate
5 the adoption of the Constitution but tha
they have been considerably less daring tn
! third than during the second of these pc
! RODS. The average yeurly expenditure
! from lS45 to 1851 was $73s,775; fror
( 1852 to 1855 inclusive, adding to the appc
> tracted within those years and subsequently
paid, 81 ,095, 1924 from 1856 to 1859 inclu
; sive, deducting from apparent amounts pay
8 ments on account of debts previously con
e tracted, $995,533. When it is remembere
8 thet during the last period the Public Work
] have become a charge upon the Genera
:, Revenue that the.two new Reiormator
r Institutions have been organized Z; that lsrg
8 additions having been made to the list O
5 Judges ;thatthe Comptroller's Office has bee
created ; that four sessions of the Legislator
: have been held that number of salarie;
e especially Of judges and officers on the&oar
/, Of Public Works have been increased, an
i other new expenditures have been directe
e by the Legislature, may it not be hoped tha
d the results Of those four years will be &C
|, cepted as evidence at least Of sincere de
r sire and endeavor, on the part of the Execu
c tive Officers, to perform faithfully their du
}. tiesto the people
ell Besides the advance from the Treasur
!. for repairs of the Hooking Canal, which ha
!. been heretofore explained to the Legislatur
i. and will be again fully explained in tn
e communication, | am aware of no expend
lures beyond appropriations and no del
s incurred without authority, during the la
n two biennial periods, which will embarra,
e the finances, or oppress the revenues f
e future years.
el Permit me now to invite your attentio
|. to some observations upon the Public De-
e of the State. That debt, need hardly =
II peot, is Of two descriptions the Redncib
3, and the Irreducible. The former represen
n loans from capitalists the letter represesI
Q the proceeds Of School Funds granted b
.fl Congress. I he former may be reduced