Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1862-01-17

warrants upon the Treasu. ruled custom
arily, at about eighty per cent. of their par
value. The Legislature Of 1853 by resolu-
ton, directed that all such certificates and |
warrants be passed directly to the posses
sion of the State Treasurer, and that they
should be paid in the order of dates, tie
voucher for payments in each instance, be
ing the receipt of the identical person in
whose favor the warrant or appropriation
was made, either endorsed thereon or at
tached thereto. Such is now the practice
at the State Treasury. lis introduction
dates the last discount upon an evidence
Of Indebtedness against the General Fund
of the State, and is the starting point Of all
subsequent retrenchment in State expenses.
1t is simple and practicable in transactions
with public treasures of every grade.
L would Recommend further, the return
OF all taxes against lands belonging to non
resident owners to the seat of government,
for collection, or the sale and conveyance
of the land.
New York adopted Ibis plan as early as
l825-and has been steadily perfecting
the details Of its Legislation on the subject
from year to year The statute Of that state,
as revised In 1859, is probably as nearly
complete as any legislation could be de-
vised. It's adoption in this state, with
such amendm hts as may be necessary to
adapt 1t to our circumstances, would great
ly decrease the expenses of the collection
OF taxes, and render redemption more GER
tain and practicable.
Recurring to the estimate of taxation be-
fore given, it will be seen that the ratio
upon all the real and personal property of
the state which is included for assessment
is one and hreeJourths per cent very
nearly
1t follows that the provision of our Bank
ing Law, which permits the Banks to pay
to the State Treasury one and one half per
cent. upon their capital, in lieu of all taxa
ton, is sufficiently burdensome upon these
institutions, especially as the real capital is
IN most instances, greatly below the capital
on which the tax is paid.
1t is plainly apparent, moreover, that
the provision which exempts railroads
and their property from taxation by the
payment of one per cent. of their gross
earnings is grossly unequal There are
IN operation IN this state, 864 9 miles of
railroad; worth certainly an average SIS
700 per mile. AS before stated in ac-
count of receipt to the General Fund, this
property paid into the state treasury the
past year S25 956 o. This in lieu of
all taxation. The total earnings returned
were S2,091 558 86--showing 81 $50 %
OF license or tax moneys remaining unpaid.
The title to these roads has passed, or is
rapidly passing into the hands Of first cred
itors at a cost which leaves them among
the most productive property in the state.
There is no justice or good policy in favor
ing this property in taxation, upon fair
valuation, at the charge of the other pro-
perty of the State At the same time, the
theory of the present law seems to me
correct. 1t would not be good policy to
expose the roads to taxstion by piece meal
in every town or school district through
which track happens to pass. Then, the
unequal producrveness of the different
lines indicates a per centage upon the
earnings to be the most equitable basis.
GEOLOGICAL SURVEY
Professor Hall, Commissioner of the
Geological Survey, has forwarded brief
report Of the progress of the work, which
will be lad before you. The delivery Of
the volume of Report of this survey, con-
tracted for under the law of the last reg
ular session of the Legislature, has been,
by consent of my predecessor, for reasons
adduced by Professor Hall. delayed till
February LIST, at which time the Commits
sioner will be present to confer with COM
mittees of the Legislature if desired,
STATE POLICY.
A comprehensive state policy must take
in every judicieus measure inviting capital
and labor to the Development of cur re-
sources. The census of 1860 shows g.
746. 036 acres of tie area of Wisconsin to
be improved. Our state is rich, far be-
yond all she now enjoys, in capabilities of
production-in forests Of timber-ln unap-
propriated water power and in latent min
eral wealth. These vast resources need
but the touch of labor and ca pital for the
realization of the widest dreams of pros
perity for our state, The policy of the
state is, doubtless, to encourage and, SO
ar as prudence will permit, assist inves-
legations and experiments having for their
object the increase and diffusion of knowl-
edge of our mineral wealth, and all enter
prises looking to the establishment of new
manufacturing industries in our midst, 1t
is recommended that you consider the
propriety of exempting from taxation for
limited period of years, capital engaging in
the branches of manufacture within our
state
Also, that measures be taken to make a
proper representation of the soils, ores and
products of Wisconsin, at the Worlds Fair
in London, the coming season. am ad-
vised that distinguished citizens of our
state would undertake to represent Wis
consin at the proposed Industrial Conven-
ton, and incidentally to represent her ad-
vantages to capitalists and manufacturers
in England and on the Continent, on being
commissioned by the state authorities
chiefly or entirely at their own expense
The matter deserves attention. So far
from the uncertain condition of relations
between England and the UHited States
serving to discourage such enterprise, this
condition will necessarily unsettle very
many In existing business relations, and
thus induce. for the first time, thoughts of
y