Delaware gazette. [volume] (Delaware, Ohio) 1855-1886, 1870-01-14
OUR STATE FINANCES.


The report Of the Auditor of State
for the last fiscal year makes q inan-
cial showing which must be anything
but gratifying to the taxpayers of the
State. The worst results anticipated
from the short-sighted financial policy
of the last General Assembly have been
fully effectuated, and the sins Of that
body are realized in increased taxation
without any corresponding reduction
of the public burdens. In 1867 the
grand levy was s2O, ,627, ,977 81 /; in
1868 it was $21, ,006, ,322 A and in 1869
it was s22,81O,675 "a, or 8, 1872, sos Al
more than it was two years ago. The
increase of the last year has been
1868, ,058 A in cities and in the villages
and country s841 ,294 96. Property
in cities is now taxed at an average of
B. 1895 per cent. and in villages the
laverage rate of taxation is three per
cent. upon every dollar of property
listed The reader will readily per-
ceiye that this is not retrenchment,
but exactly the reverse, and will be at
a loss to understand what emergency
has rendered necessary this extraor-
dinary increase in the public burdens
during season of profound peace
and tranquility. But he will be still
more surprised to learn that notwith-
standing the increase in the tax collee-
tion the levy is not adequate for the
payment of the public indebtedness
falling due and the current expenses
Of the government. To meet these de-
mands the Auditor says there must
be an increase of fve-tenths of mill
in the rate of levy, and a temporary
loan Of 100000 must be effected in
anticipation of collections on the du-
plieste.
The primary cause for this is found
in the increased expenses of the last
two sessions of the General Assembly,
The natural and proper way to have
met those increased expenses would
have been by prOportionate increase
in the levy, but the controlling msjori-
ty not choosing to take the response
bility for that. borrowed $175, 900 from
the Sinking Fund and turned il into
she General Revenue where it was con-
sumed in paying the current expenses
instead of being applied to its original
purpose of iquidatiDg the State debt.
At the same time the levy for the
Sinking Fund was reduced fvc-tenths
Of amill and the amount added to
the levy for General Revenue. The
Esum borrowed from the Sinking Fund
must be repaid during the current
year and besides that, 81 ,469, ,599 "A Of
the public debt which falls due on or
before Jan. I. 1877, remains to be pro-
vided for This must be done by res
toring the levy for the Sinking Fund
to its former rate and increasing the
levy for general purposes fVs-tenthS
of a mill. So, as we have frequently
predicted, we have, as thenetresulrso Of
the last General Assembly's fnancier-
A1As AHSESasSN- tdAAAlon ana q large aQ-a
dition to the public debt. Ia the mean
time the people have suffered a dead
loss of the large amount Of interest
on that portion Of the State debt
which would have been paid but for
the reduction and diversion Of tile
Sinking Fund in order to provide for
other unusual and to a great extent un-
necessary expenditures. Had the levy
been increased last year this sum
would have been saved. Now the loss
cannot be prevented and the levy will
have to be increased anyhow unless
perebance the Reform Legislature
snail be able to retrench sufficiently to
prevent it.