The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1874-01-22

the assessed valuation Of property, $2t0,-
374 90 from taxes on the gress receipts Of
railroad companies, SOS 800 9s from taxes
on fire and life insurance companies, and
the balance frem miscellaneous sources
GENERAL FUND DISBURSEMENT
Il The total ACCOMPLISHMENTS from the
general fund durIug the fiscal year were
81 29l ,966,o1, an excess or 500, 093,72
above the receipts Deductng from his
excess of expenditure the balance in the
the genera fund at the commencement of
the fiscal year--Sept. 30lh, 187s-apd the
deficiency In this fund for the year end
ing Sept. seth, 1873, is fou nd to be $685.
923 80. The total disbursements we're
divided among the several classes OF
current expenditure as follows: Salaries
AMI permanent appropriations $26l-
572,36; ! gislative expenses. $lOS,73O,22;
state prison and charitabl inStitu'ians,
s5Ol .245 S3; miscellaneous, 1926, Ale. CO.
The deficiency in the general fund, of
$66. 925 SO: is an overpaymeat. in ex
Cess Of all prepsr resources for current
from tbs trust funds Of
the state and in fact an inersaae of The
state debt to the presise amount of the
sums thus distracted from these funds.
am not aware any law authorizing
this increase of debt or the diversion Of
the trust funds from heir Legitimate and
proper purposes. beyond that law OF
nj cessity which leaves the State Govera-
ment NJ alternative in The administration
of public Affairs, but to nisapprnpriate
Moneys held in trust and sacrsdly aet
spsrt for purposes oil charity and educa :
ton, rather than permit dishoner to
come upon the current obligations OF he
treasury II an Individual app ciat"d to
protect the property and intsre is of or
phan minorsser insane persons we're t.
divert &c his private use the resources
ntrustca 70 his keeping, his conduct
weuid fiad no apology in law or morals !
The relation of the State to its II :
fuads is not essentially fferent, and its
violation of good faith not less reprehen-
sible. The practice is especially demon
alizlng and dangerous as a pecedent. 1t
is pcssibls that tho past actisn of the
State in borrowing from the school and
other trust funds, under special circum :
stances, and by an exercise of legislative
power, deemed to have been sutherized
by the Constitution, may be regarde as
afordipg SEINE sanction for the present
procedure. It must be admitted, howev-
er, that the special sxigency under which
the Indebtedness to the trust fund was
originally created, has wholly disappear
ed, and that the existing practice las no
real justification, resulting, as it does,
from special appropriations, made by the
Legislature, in excess of the revenues
provided to meet them. No questions as
to the profit and sxpedieLcy of further
loan from the trust funds to the Stat Q
cam under present circumstances, be en-
tertained. 1t is sufficient for us to knew
that an increase of the State debt beyond
Is present limits is prohibited by the
constitution we have swern to support /;
that this prohibition was wisely Intend
ed as a restraint upon the Legislature
and protection to the people, and that
1t c .sRet be Honestly evaded nsr safely
defiisG.
Inasmuch as the disbursements from
the general fund during the last quarter
Of the calendar year being the arst
quarter of present fiscal year--are com
pensated by no corresponding receipts
into that fund during the same quarter,
the deficiency which existed on the 30th
of September last, is much larger than at
the present date. Tn bis annual report,
the Secretary of State estimated that this
defici sncy on the 1st day of January in
tant, wsuld reack the sum of $16s, 6el.26'
I recommend such legislation as shall
rapidly repair the present deficiency and
prevent, in the future, the continuation Of
hose practices whica necsssitate this
legislation.
THE STATE DEBT.
The legal debt Of the State, denomi-
natsd the bonded and Tired acible dent, "