North Iowa times. [volume] (McGregor, Iowa) 1867-current, 1869-04-28

can tell us when there will be high water,
low water, rain, sunshine, and all that, is
past our credllity. Mr.. Shaw's predic>
tons are read with great interest by many
and copied by several Of our exchanges !:
they are reported to US as generally cor
rect, but we do not claim infallibility for
him no more than we do for any other
human being.
THE Iowa State Debt.
The Missouri Democrat as the chief
bull head of Radicalism-- all the minnows in
its wakc-blows extensively about the nom
indebtedness of Iowa, and boasts vehem-
emily over the success of super-radicsl
ability in managing the finances of
State. Judge McClintock of the West
Union has been working up the statistics
Of this most uncreditable report, and the
issue of the Union dated April 2lst, gives
the following. Our people will read it
carefully, and see how much confidence
may be reposed in set Of newspapers
who are sucking the blood Of the body
polite. Comments are unnecessary:
In 1869, the Iowa State Register, speaking
of the financial conditioned our State, said
ave see State free from debt, and with
an overplus Of money lying in her Golfers
unused or not needed This statement
was promptly denied by US at the time,
and shown by the official statements of the
Auditor to be untrue.
The Register of March 3lst, 1869, for
the first time admits that this statement
was untrue, but claims that the State is
no,c out Of debt, using the following Ian
guage: 'Iowa is out of debt. We have
the figures in black and white, from official
sources to prove it. Something over a
year ago premature announcement to
this effect was put in circulation"
On the LIST day of April we addressed to
the Auditor Of State the following inqui-
ries:
"What is the amount of the bonded debt
Of the State? Give the amount due to
the School Fund, and the amount of each
other issue, and the law under which they
were issued. What amount of Iowa war
claims have been audited and paid by the
general government, and when paid? To
what account was the Federal tax of 1862
applied?'
TO which the Auditor, under date of
April 7th, 1869, replied
LIST. Chapter Is, acts 1861, authorized
$500, 900 of State bonds to be issued.
Under this act the State authorities issued
and sold $500, 900, maturing in 1881.
None of these bonds have been redeemed.
I'd. There was issued State Bond in
favor of a permanent School Fund dated
Nov. 10Th, 1864, for Sl22, 295.75, in &C
cordance with Chapter 1874, acts Of 1864.
Also bond issued in favor of same Fund,
for SIP ,2O2,26 as per Chapter so, acts Of
18th General Assembly.
Sd. The amount Of Federal tax charg-
ed by the general government to the State
of Iowa is 1884, 274,Sl.
The State of Iowa has received of the
q. 5. Government since partial settlement
January 18th, 1863. $l35 Az. IA
January 23d, 1S68............. 1917, 10
Col. j. N. Deney, Commissioner to set
tie these claims, informs me that we will
receive the further amount of 100000 at
least, out Of the balance of oHr unsettled
claims, amounting to 93,!93,64.
Yours Truly,
JOHN A. ELICIT.
I Auditor of State.
Here we have the official statement of
the Auditor that we have an actual out
standing bonded indebtedness of 1884 -
49S,0 and while he does not expressly
state that the above are all the unpaid
| bonds, perhaps it is fair to SO consider it,
| These are the official figures that the Re-
gister refers to as showing the State to be
tout Of debt" Here we have definitely
ascertaincd bonded debt, more than is au-
thorized by our State Constitution, yet we
find leading papers in the State, whose
duty it is to keep the people posted on the
true financial condition of the Safe, under
taking to gull and deceive them into lavish
expenditures of money, by rcpr senting
the State to be out of debt, with the treas
sury overrunning with money that they
don't know what to do with. The propo
sition is too simply ridiculous, and too
ridiculously absurd to spend time in re-
futing it.
The only theory upon which the State
can be shown to be out Of debt, is that the
debt exceeds the Constitutional limits, and
therefore we are under no obligations to
pay it. Perhaps that is the way the Regis
ter proposes to cancel this debt.
We don't know as we fully comprehend
the statement of the Auditor as to the
state of the account between the State and
the U. S. Government.
In August, 1861, Congress levied d.
rect tax upon the United States, and au-
! thorized the several States to assume the
collection thereof, allowing certain deduc-
tiOns when thew did So
The first act Of the 9th General Assem-
| bly, was to assume this tax, and tax of 2
mills on the dollar was levied on the pro-
perty of the State, and collected. A short
time after the levy Of this tax by the State,
if our recollection is not at fault, Congress
repealed or suspended this law, and Iowa.
so far as we know, is the only State that
! collected any tax under it. Now if we
correctly, Iowa stands charged by the
General Government with 1884, 81 ON
account of this tax, and these war claims
OF the State against the General Govern
| ment, about which SO much has been said
as source Of revenue to the State, have
! been allowed as credit to Offset this in
debtedncss to the amount of Sl53, $50, A,
and that there is reasonable hope that
| claims to tie amount of 100000 more
| will be allowed as credit, which, if al
lowed, will reduce the general Indebtedness
of the State to the general government to
1913, 1854, but until allowed the item of
| Sl93, 1864, as we understand the state
ment, should be added to the amount of
bonds above stated, which would make the
total ascertained debt of the State S727,.
69l,65. If we have not hit the proper
solution Of this Federal tax question, we
hope the Auditor will make Hfull and
concise statement Of it. Facts are what
we want. We are as deeply interested in
! the financial nrosnerifv Of lava IA any,