The Richmond palladium. [volume] (Richmond, Ind.) 1855-1875, 1874-08-19


benevolent Institutions. S52,51b,s1
FSfOicouS appraist ment
Of 1869 refunded ............. S9.22l A
RcforInatory institutions GB.l lnH,3
Educational insti tIttloIIS S7,Iib,.S
Industrial interests......... l2G1!',na
lEbiic cindebfeaness...... s1O,22l -
Legislative 2fS,I'5,' ~
Total 81 1885, 1888
Revenue as ve........s39i $685.
There was on hand in ~
the Treasury 755,02i, ,S7-sl ,i5aeslsi
Deficit ........................ Si5,6Z1 ,,S
Borrowed, s9l00I.
Thus it will be seen that the FIVE
cent levy of 1871 did not produce one
fourth OF the revenue necessary TO de-
fray the dinary expenses OF the
State Government in 1873, and that
$4,000 had to be borrowed for that
purpose The Republicans having u
majority in the Legislature on 1873,
provided for new assessment and app
= praisement OF the taxable property o!
the State under which the total value
Of the taxable property was fixed at
$3.50 ,000 600. and upon this made an
assessment Of fifteen cents upon the
500. This fifteen cent levy will pro-
duce at the State Treasury during
1874 the sum of 81 ,325,750 The or
dinary expenses of the State Govern
ment, together with the expenses o.
the prisons, benevolent Institutions
redemptions of old bonds, Interests
\ etc, all usual ann ual expenses, will b,
81 .262, 600. A FIVE cent levy on th,
present assessment of taxable propert,
would produce $475,00 being littl,
over one third Of the amount necessar,
to detray the expenses OF the Stat
government during the year. Tn
usual annual current expenses of th
benevolent institutions. are $3.50 O0t
reiornatory ins titutlons sl5O, 600, edu
cat}onal institutions $50 900 total
$500,OO. The expenses Of these thre
Institutions alone would exceed th
amount produced by levy OF fiv
cents upon the present assessment {
taxable property, and would excee
by S1U3, GOO the amount produced b
the FIVE cent levy upon the assessmel
of 1871
In this connection it is proper I
remark that | hear praise on eyei
Il hand for the present Republican Stat
= officers. The ability and fidelity wit
which they have discharged the duti.
OF their several Offices have been ge,
erously acknowledged by'their polit
cal adversaries. The success of the
administration has been marked in .
unusual degree and not Il breath
suspicion has fallen upon the integri
of any one of them Messrs. VII,
man, Glover, Curry and Denny a
candidates for re election, and Il
people of the State cannot do bett
than to continue them in Office a.
l other term. Judge Osborn as a mer
Der o! the Supreme Court has diSpls
ed learning and ability, and given c
$ tire satisfaction.
BORROWING TO PAY EXPENSES
) BY the aid of these figures we c;
understand how very shallow and d
magoglcal is the resolution which
: have quoted 1t is an attempt to i
c ceive the people by favoring sm;
y levy O., five cents on the hundred &c
c lars for State purposes, and conce:
d ing the fact that the State would ha
It to borrow annually nearly half m
: lion of dollars to meet the deficit
h expenses. This effort On the part
4 the convention recalls vividly the h
n tory Of the Democratic administ.ati ii
e of the State from 1917 to 1861, duri
y which the State debt was largely
rs creased by borrowing money to T
&c the ordinary expenses of the Cover
a ment and State bonds, which had bf
u redeemed by the two per cent. sink
Il fund tax levied in 1852, were res,