Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1869-01-20

II VIII De seen Gn2t the eSLln12Leu e2
penditures and revenues are nearly
equal in amount. Great care should
be exercised in making appropriations
the payment of which; this year, is not
| provided for; lest such deficiency be
created in the general fund as shall
| embarrass the state finances.
The Secretary also gives an estimate
of revenues and expenditures for 1870,
it being necessary for you to provide
the means for defraying the expenses
for that year, BY tax or otherwise:
es-------------S--------S 70 ,2n0 ol
| Revenue --------=--.-S------ 318, 300 OG
| To be raised by state tax----- ss39 800 90
| He suggests that state tax Of $780,
900 be levied at the commencement of
the session, and that the provisions OF
section 2, of chapter ll2, of the general
laws of 1868. be applied, SO far as is
| practicable, to any appropriation in
excess of this estimate. That law au-
| thorizes him to levy a tax sufficient to
provide for the payment of all appro-
priations Believing that it will great
ly facilitate legislation, concur in the
suggestion.
There was expended from the Cover
nor's contingent fund during the past
year the sum of $1,l98.20. Balance in
the fund January /, 1869, S1,ll2.54.
From the appropriations for the pay
ment of expenses incident to the trans
portation OF the British Patent Office
Reports, donated to the State Histori-
cal Society, there has been expended
the sum of $524.53. The society's
collection of books and pamphlets now
numbers 35 900 volumes, and is Of such
character as would reflect great credit
upon any community.
The efforts to secure final settle.
ment of the claim against the Federal
Government on account of expenses
incurred IN connection with the war, have
not ceased. Explanations have been
made, answering the objections of the
auditing officers at Washington, SO far
as is now possibley and it is confidently
expected that a large portion of the
claim will be allowed during this year.
The State Treasurer calls attention
to the fact that but ST ,075.78 were
paid into the treasury last year, as the
clear proceeds for all fines for violations
of the penal laws. Several of the most
populous counties made no payments
of this character. It is believed that
full returns have not ben made in all
cases. s
TAXATION.
Your attention is called to the views
presented by the Secretary of State in
his report, relative to the proposed
amendments to the laws relating to the
assessment and collection of taxes.
The frequent amendment of these laws
IN past years has been source of very
great embarrassment to the people.
Before they could possibly become con-
versant with the general workings Of q
law, i'm portant changes have been made,
rendering those who are affected thereby
uncertain as to their duties and respon-
sibilities. Any important amendment
which may seem necessary ought to be
very carefully considered before inacted,
lest we again fall into the same trouble.
The valuation of real and personal pro-
perty, as equalized for 1867, was 5 1885,
851 ,l60.97. Valuation as established
by State Board of Assessors for 1868,
$244, ,440, ,774.00. Increase in valua-
ton, $47,589,63I.O3. The actual
value is probably not less than $780,
100000, as appears from returns
made to the Secretary of State.
BANKS.
The amendment to the banking law,
abolishing the office of Bank Comptroller,
and devolving the duties thereof upon
the State Treasury, was ratified by the
people at the last general election. At
the same election there were submitted
ten charters, atthorising the establish
ment of savings banks, which were not
ratified. The necessity for savings banks
is not denied by any one, and ifa general
law, providing for undoubted security for
depositors, under which such institutions
can organize, shall be by you submitted
to the people, there will be little or no
opposition to it.
The report of the Bank Comptroller
shows that but sixteen banks are now doing
business under the banking law, with an
aggregate capital of S525, 600 and S15,453
circulation outstanding. Thirty eight
banks with an aggregate circulation of
$40,028 are being wound up and their
affairs finally settled. The State Treasurer
reports that the sum of 100000 will
probably be realized by the state on ac-
count of the tax on national banks under
the provisions of chapter 400 of the gen
eral laws of 1865, that law having been
declared constitutional by the Supreme
! Court of this state.
| EDUCATIONAL.
The people look at the close Of each
year, with peculiar interest, for the results
of our educational system, and no one
doubts that those results fully vindicate
the wisdom of that system, which offers
to every child in the land ample facilities
for acquiring knowledge. Those who
have during the past year been entrusted
with the immediate charge Of our educa-