, 1865-01-05
$li,1H,N,4.S



regular s"m1 1.nnnuu1 payments OF acctuing in-
terrst on tho State debt, the following
amounts have been li4nidated, with the pro-
cecds Of .lr fund derived from the Illinois
Ccntral Railroad, viz:
Refunded stock OF 1S6 -, redeemed nnder
the Crveruore proclamation Of Sept.
=, 1869, including accrued interest On
state ate bonds: bonds. purchased at par, canceied
and d..poeited with the Auditor. the
principal aud interest Of which amount
der iie EN- Of Fcj,' = 1asl...,..... s3,6ia3s
Anonnt Of principal and interest e1tn;
Euishcd with the Central RAILROAD
fund, from Dec. ], 1SGa. to Nov ~,
,Ss-as
In aHditmn 10 this, further amount Of
slD7 Sl5.i2 OF tho same fund. has-been used
Dec 1s,, making, In thu whole. 1906. 48.40 Of
the public debt extingulshed IN g little over
two wears. The amount derived from the
two.niIl, tax, on The assessment Of The year
1868, applicable to dividend on State indebt-
cdn;ss> presented to the Auditor, Jannary
1st, 16G5 is eomr six hundred thousand dol
lars. This, added to the amount extinguish-
cd with The Genital Railroad fund, 1nakes an
aggregate Of one and half milfions Of pay
ncnt on the debt Of the State, since Dec. l.
1862. And the Indications Of increased re-
ccipts irom the Central Railroad, and from
belief tlsut at least one million If dollars, per
annnIn, will be hereafter realized from these
two sources,
RECEIPTS FRoA The CENTRAL RAILROAD.
The Amo,int received from the Genital Rail-
read, tdf the scycn per cent on the gross
earnings OF said company, OF the past two
wears. f!ns ticcn Ms follows;
For tle liz noatts ending April 81, :.
For Tue six mouths ending October ii.
Fos ts Il: months cniias April So ISL 1;5os@
For the blx months cAdtus October 81.
1854. rs. 'Ss9S
s7O5, ,soa6a
twill he eccn that tho amount received
for ncr ccn.aEc on the earnings OF 1864 is
more than one-third larger thon that for lS63.
ACKNOWLEDGEMENTS AMI ExpEEnlTuRRs.
The rcccinte iptp the treasury for revenue
purT,oeee, for Two years. ending November
80, 1854, huyc been cs?s, ,G1G.1 Of which
amount fln9. SIT I'll was received for tax levied
In the year 1Ssse, and SSH, ,os8.dc for tax lev
led In the wear 1868 the remainder of the
amount received Icing from miscellaneous
sou,ces The amount in The treasury, De-
cc1nber 1, 1852, WAS $s;14 Gl7.19, which, I'D
dcd 10 The amount received, makes an AZ AZ
grcgnte ot Sssa, ,S03.31.
The amount OF warrants drawn against this
fund, from Drc. !, 1869, to November 81,
1864, Is 1854 .111;91, and The amount of the
same outstanding, ,lnpnil Dec. l, 1864, as ap.
pears from the Auditors report, was 81, ,510.-
Us. Il W1ll be seen that u continuation Of the
expenditures, in th. same ratio, as f)r the
paat two searf, Hrd OF the receipts from tax
ation, rs for the collection for 1863, will re-
suit In i deficiency cf the receipts, rs com
lnrra with the expenditures Of more than
orr, Hundred Thousand dollars per annum and
Ills without considering tie greatly enhanced
prices necessary 10 be raid for all articles rQr-
{np. x1A,Lr x,f tl,n 49, Fall
services rendered cxccp: such IS the compen-
sation for tahtcl Is fixed in amount.
The IAte 0ftax now l3yicd for revenue 1,ur-
poses is Que an! One-iilh mill on the dollar OF
vnluatton. producing, for the year 1903, tas
before stated) 23l5 03S ~ Of actual receipts at
expended in Two years Will be found to be
44,07.l6. The conclusion is obvious that
nn mcscnee Of taxation or reduction Of cx-
pcnds1urcs Ia of fabs"lut. necessity.
COLLECTION OF TAXES.
The act ni the last General Assembly
autllorazlns tbe collection Of taxes IN legal
tender noers nna 1,2stnl currency expired, by
limitation, On the lat OF JanuaEy, 1906. thus
leaving The act VI 1s5: In free which act re-
Quircs payment OF taxes In e Id and silver.
presume that no as1:ument is needed to show
TINT re'e1nesnsnt q 91!,s ahs lsw authorizing
matter not only Of public policy but OF abso.
lutte necessity.
AUTHORIZATION ACT OF FEBRUARY II, 1903.
The act Of the last General Assembly. an
proved February IL, 1868, entitled IAN a.,
10 provide for the ordinary and contingen,
expenses Of the government until the adjourn
mcnt Of the next regulss session d the Gen
rral Assembly," and containing provisions fo
the payment Of the incidental md continrcn
expenses Of the government and Of the differ
ent State departments. clerk hire Of the dill
Iescnt State officers, etc, aud III aid Of sicl
and wounded Illinois soldiers, has been p.o
nounved by the Suprc1ne Court to be void
Previous to the rendering Of this decision
several warrants had been Issued by til
Auditor, fer purposes contemplated by sal
act nol1e ri which havc been paid.
In fact slc decision # til: Supreme Cour
was rendered In suite brought against tn
Tcasurc,, with tue view Of compelling h'r
10 make payments of fatd warrants, Al
these n ar1nnts were regularly Issued ~ th
Auditor, on occaunts ios services astnaA
rendered and articles actually furnished az
ali or the scmc should rlgatfui!y be paid
1hc ag.rsEntc amount OF such warrants
less tbap seven Thousand dollars. The cost 6
clerk hire and incidental expenses Of the ses
crc1 State departments have been borne y
!hc state officers, from private means. for tn
1nsr two ycars and would therefore recon
mend tbe rc-cnactunent OF the law, with
provision legalizing the warrants outstand