The Hancock Jeffersonian. [volume] (Findlay, Ohio) 1857-1870, 1868-01-10
DISBURSEMENTS.


| 4.340. .e32
Estimated balance Nov. Is, 1867. 1876, 4s6 s
The whole amount of taxes levie
by the State Government during tn
year has been S16,S6S,4 81, c
which all except the amounts report
ed as collected for the State Treas
Jury, has beea collected and disburs
ed in the counties, cities aRd village
for local purposes. The delinquen
cies and costs of collection have bee
more than ordinarily light amountin,
m all to but 2 s 10 per cent. Of tn
total levy. /
The valuation Of the property o
the people of the State upon the granC
duplicate is 81, ,1SS, ,754,77S 90 bein!
an increase of S32, 1853 90 upoI
the vsluation of last year. This in
crease is, in q very great measure
owing to the increased accuracy anC
care in the administration Of the laws
and the growing familiarity of loca
boards of rIaalization with their du
ties under i,n- -tatutes.
The Commissioners of the Sinking
Fund have, during the year, paiC
1882, ,S25 5S of the funded debt of Tho
State, leaving outstanding S11,031,
941 Sc. The question of providing
for the installments to be paid during
the next three years, will be before
you. The present rate of levy vii
not be quite sufficient for the purpose
about $3.50, ,000required in addition tc
what will be eraised being thereby. The
Recommendation of the Auditor O
State, that brief temporary loan be
made for the purpose, is supported
by the fact that it is very probable
that the present rate of taxation, with
cut increase, would, in q very short
period, pay both the succeeding in
staIlments of the debt and the loan
thus lraised; the expenditures from
the Treasury being exceptionally
large at this time, by reason Of the
erection and enlargement of Benevo-
lent Institutions, and the necessity oi
refunding to the National Banks tax.
es which have been adjudged by the
Courts to have ,been unlawfully col
lected. / therefore concur in the
Auditors recommendation.
By provision of the annual appro,
priation bill Of last year the Auditor
was authorized to transfer, tempora.
rily, balances of various funds to the
Sinking Fund, and to pay Herewith
portions of the debt of the State,
thereby stopping interest thereon
The expectations of advantage from
this statute have been realized with
out any practical detriment to the
business Of the Treasury, and by this
means a saving has been made of the
sum OF s37 ,430 "a, which would 9th
erwise have been paid as interest on
the debt. The plan is so manifestly
economical and proper, that recon-
mend that it be made permanent.
The usual examinations of the
Treasury have been made during the
year, and special examination under
the statute was made by Hon. c. W.
PotwiD and the Secretary of State in
August; the funds belonging to the
State being found accurately to &C.
cord with the balances shown by the
books of the Auditors and Comptrol-
ler's offices. The report of the spe-
cial commission will be found among
the papers transmitted herewith.
The last Legislature directed a
commission to be appointed to revise
the the tax laws of the State, and re-
port what changes are necessary to
systemize and make consistent the
existing statutes relating to this i'm
portant subject. Their examinations
have disclosed a great many inconsls-
tencles and incongruous provisions
in our financial Legislation, and the
result of their laborious investiga
tions will be found in their report,
which will be before you. They have
consolidated the present laws into
several carefully drawn bills, to which
your early attention is invited. The
necessity for their work is made man
ifest by the exhibit of numerous con-
|tradictions and anomalies which they
disclose; and the remedy will, as
believe, be best found in the adop-
ton of the bills they recommend.
During the past season the pro-
ceeds of the sales of the lands given
to the State by the Federal Govern
ment for the endowment of an agri-
cultural and Mechanical College, have
all passed into the Treasury, and that
Endowment Fund is now complete.
1t consists of q capital of $40, 1884,
40, on which nearly $40, 900 of inter
est have accrued within few weeks.
The disposal of this fund has been
discussed at each session
Of the General Assembly for four
years past, but no definite settlement
ass beeu made of a plan for its use.