, 1874-01-17

lt1G CftlCA0O DA1l
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pending, TINT u worry largo percentage Of tloao
bonds wore franlnlently md Illegally isaucd, and
mover Ind Il sombanco Of validity.
Tho Auditor waH authorized by tho not Of 1870
to 1ovy a rnte Of taxnt!on upon tho aaaoasot
valno Of tho taxable property III thla Btato that
| would produce
For general stato revcnue. 81 500 0o0
For school rosonuo. ................... ,60O,n0O
Total rovcnuc.. 600
Tito following from tho Rovonuo Inv Of 1872
IL tho law Oil tho subject:
11B. Tlle Governor, Auditor, hna Treas,,rcr shall,
annually on tho completion Of tho naacsstncnt mid
equalization Of property ascertain tho ratio per cent
required to rrodlco tho a'aount u faxts isud BY he
| General Assembly.
12o. Tho Auditor nha1l, annually, compute anil cor
tfy 10 tho County Clerka suc aoparato rates per cent
ns will prodlscU the 7t amounts f State tares nuthot
| lied to 10 levied.
Tho Legislature, by aot Of Nruy, 8, 1879, pro-
| vlled
J. Tint ,hero shall ho raised by 1ovylng lax, by
valuation upon to taxable property III tha State, tho
following for tho purposes hercluuer not forth.
For goncrn State purposes 10 bo designated "oven'to
Fund" .506 enc upon tho nsseaEtd vnuo Of property
for tho year 1885, and sl,o00oo annually thereafter.
For school purposes. to 10 designated State School
Fund" I'm lieu Of tho 2-n1 tux hcrotor), ST i0o0ov0
| annually.
2. Tho Governor and Auditor a1la annunlly, conf
rto tho separate rates per cent required 10 produce
not less than the dbous nnons, anything In any otlor
net providing different manner Of aAcertautng the
amount Of royeno required to be levot1 for Stae r
poses to tho contrary notwithstanding; nnl When
ascorsainud, tho Auditor Rhnl certify to tho County
IN nj
also anc defna rates for other purposes now,
may hereafter be, provided by law TO 10 loycd and
| collected ns State taxes.
| This Is the low by which tho Auditor should
| DO governed. It requires him to compute the
ratio por cont Of taxation on tho gross oqualizca
valuation Of taxab1o property in 1878 to produce
these two amounts Of revonuo. He has no dis
! erection whatoyor. 1Io is not authorized to COM
puto my rato for any othor purpose than those
| named in tho Revenue Inv mud tho not OF 1873.
How las he executed this law7 10 has certified
to the County Clerks an aggregate rato Of Q G.10
mills on tho total assessment OF 81, ,3i1, ,613 g4g.
This rato Of tux will produce tho sum of $780,
soG9S, or 81 .929 806.es In oxcosg Of that author
ized by law. Tho specific rates certified by him
to the County Clerka, aud tho amount to 10 pro-
duced by cach aro Oh follows:
Two and sevcuenth mills for revenue. 6o2 1888
Nino~tontls Of mill for school fund. loo745l.75
Amount authorized by lhw -. 36i0'0oooo
ExeesA over authorized revenue. Il ,32o, ,so5pB
Tho ratio Of tax for revenue producos . ,3552o
Amount authorized BY awt,.......... 2'ooc, oou00
Excess Of levy by auditor ,122 3s5 %
Allowing 10 Per cent to cover the cost Of col
Letting the tax foviod for rovenue purposes,
making 80, 750, 900 IN all, the cxcoss on this ono
item iB $972,0oo, or 3s per cout Of tux creator
than tho 1aw authorizes or permits to DO collect
ed for rovonuo purposes.
The Auditor, In his communication to the
Governor upon Tho subject of rai1road-aid debts
atatcs that he levied ths increased rate in order
to raiao money by general taxation to pay tho in-
toreat aud principal Of these railroad-aid bonds.
Ho does this in execution Of the law Of 1869.
That low provides that all taxes for State revenue
In my town or county owing railroad-aid debts,
which may be collected on any increase On the
valuation Of the property OF said towns or coun-
tics ovor the valuation Of 1868, sl,al be applied
to the payment If these bonds, principni and i'll
,erest it also requires TINT nil taxes collected
for stute purposes On tho property Of tho rail-
roads thuB aided shail bo applied in tho
| same manner. Tho deficiency thus created III
tho general resonue is to bo supplied by m iu-
| creased rnte Of tax upon tue whole taxable
! property in tho State. In other words, tho
| counties and towns which owo no railroad-aid
| debts have to pay their own share Of tho State
tux aud also tho elare VIII ich falls to those
counties and towns which do owe these 5eht4.
Tho operation Of this Low may be shown by the
| following illustration
| Faluation Valuation
| in 18G3 in 1871,
Mclean County. $40, ,G39, ,yGa 3,0JH,0'0
| aangaiuon Counsy........ 12blB, 500 2G,51a,9a1
poorta County,. 9,7A6, ,43l 20tG94, 40
s3a,oo4, ,1ao Bu,ao5, ,7al
| 1ncreaae In 1878 over 1aGS.......... $i7.4U,593
We now give the corresponding valuations Ia
| three counties which owe no such debts:
Fulnatian Fa{uatton
| IN 1865. IN 1873.
Cook.........,........$8 s.. .0u0U 200 $30G, ,Q000 600
| Stephenaou.. bG08,b0O l2,l51 900
| kane.. 13,8I1GS 21.H1e, 200
. slo467o,1so ss4o,o2a 600
1 Trnn ofnnn7 h1tk' 1nno