The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1869-01-08
Average balance.

Annexed to this report is comparative state
ment OF the receipts and expenditures for the
years 1867 and 1868.
1he principal decrease in receipts is from tax
Oh corporation stocks on personal estate tom
mage, collateral lnheritances, and on retailers
licenses.
The increase is from tax on loans, not earn
ings or income, gross receipts of railroad Coz
panie', national bank stock, and foreign insur-
ance agencies.
The decrease in receipts from personal pro-
perty is owing to the act OF last reducing
The quotas of taxes as fixed by the Board of
Revenue Commissioners fifty per cent. Many
OF the counties having paid in previous years
the tull amount as fixed by the Revenue Board
the reduction OF fifty per cent. on the amount
paid for the two years so settled their taxes for
The last and, unless there is an increase in the
quota, for the coming year.
On tonnage tax there are suits pending,
which, if decided in favor OF the Common
wealth, will add materially to our receipts from
this source, and keep 1t above The receipts OF
1867.
From all the sources from which there is an
increase, except from taxes on net earnings AMI
national bank STOCK. the increase will no doubt
be permanent. The liability OF the corporations
for the payment of the tax on net earnings was
for long time in liti gauon, and the decision in
favor Of the Common wealth brought into the
Treasury, during the present. large amount of
tax due in previous years. There was also from
nearly the same cause, larger proportion of
tax collected upon national bank stock than
can be collected during the coming year.
ample for the payment of all expenses that the
State is necessarily bound to assume, con-
tinued increase OF state bounties to charitable
institutions and common schools or salaries to
judges pensions to old soldiers etc.. will, ii not
checked, require the imposition of new taxes,
or poslponement OF the payment of our State
Indebtedness, by rene wal of our loans.
The amount of State de 1t due in July
1870, is one million six hundred and
forty.two thousand one hundred and
twenty-eight dollars and twenty
n.
OF our expenditures, during the last
There Is for the coming year an in-
crease In the appropriation to COM
And an Increase over the amount paid
last year for the erection of the
Northern Hospital for the Insane. l5o,0OO03
Will 1t not require the strictest economy. and
a cousde rable deduction instead of increase of
State bountles, TO meet this Indebtedness?
also beg leave TO call your attention to the
necessity OF increasing the revenues OF the Com
mon wealth for general purposes. The repeal
of the act imposing tax upon real estate has
taken from the Treasury the largest portion of
the money that can be used Tor any purpose,
except for the payment OF the principal and
interest of the public debt, leaving only foI
general purposes the taxes derived from the
following sources, which, as collected for the
last year, were as follows, wiz
Tax on ersonal property (deducting
about One-slXth as applicable to
the payment OF war loan )..".." ...... $3.50 OO)O0
Tax on 30i4O7 40
Tax on net earnings or income"".,... 422 28O37i
Tax on l92 4S3 80
Tax on B07 537 7S
Tax ON National bank stock ........ 2l6, rs
sL724.ll6'66
Whilst the expenditures for general purposes
were So 455 006 90, with prospective increase
OF the $500, 600 appropriated to common schools
and the Northern Hospital for the Insane. Be-
sides, the receipts from these sources will not