Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1875-01-15
RECON-.
srArs CuNrRoLLER's RE
MENDArIONs.

srArs cuxTRoLLER.s RECON-.
MENDArI0Ns.
From advance sheets Of the report OF
our State Controller. we CLEAN som re-
commendations worthy Of careful atten-
ton at the hands Of tho present Lsgis-
lsturs. There are many susgsstioas in
this report. which by the way il . thor
oush and searching review OF the pres
emit condition Of our finances, the meth
ods Of raising revenue and the modes Of
It's disbursement. worthy OF special
mention. but our limited space pre-
cludss more than . passing mention Of
all save the most prominent. From this
report ii appears that tho tax on pro-
essds Of mines forms the chief source OF
income for the general fund. and there
fore ii IL the main dependency for pay
ing the current expenses OF the State
Government. The revenues from this
source during the past two years were
over $500. 600. while the receipts into
the general fund from the tar on real
and personal property during the same
period we're about san 900. The
Controller will take strong ground
against any change In the method
Of assessing the net proceeds Of mines
tending to exempt more Of such pro-
eesds from taxation. arguing that the
present system is not only just aud equi-
table. but the only safe course for the
STATE TO pursue. One Of the most i'm
portant Recommendations Of tho Con-
trollsr 10 in the matter Of the State debt.
He viii urge the passage Of m act trans.
fsrring from the General Fund to the
State Interest and Sinking Fund $780,.
900. 70 b used under control Of . Board
Of Commissioners; first. in the rsdemp-
ton Of the 10 per cent. State Bonds, II
thsy can b purchased at such rate ss
will guarantee TO the buyer air per cent.
Per annum interest on the amount paid
therefor; or second. II this Is impossi.
bic. the money to DO .ussdin buying Cali
fornia State ak per cent. bonds at OF
below par. or U. s. bonds. at the dis.
cretion Of the Commissioners. The OBJ
Jet Of this Recommendation and effect
Of the proposed Act. Is to save interest
10 the State. Our bonds call for 10 pei
cent. psr anuum interest. To provid.
for this. twenty-five cents on each on,
hundred dollars worth OF taxable prop
srty 10 now collected. The Controller
shows that were tho money in question
invested a. suggested. the difference be-
tween interest paid by the State and
that received On bonds 10 purchased and
held could be met by a tax OF five
cents. instead Of twenty-five. In
short. 1t is q very safe and
sure plan Of reducing the tax now levied
to pay intsrss, on our State debt. The
bonds purchased would be always mar
tstabls. and. when our State bonds ma
turs. could DO sold for money TO meet
them. In THE and other ways. provid.
ing there BE- no change made in the rev.
snus laws tending to decrease the as
sssssd values OF property. the Controller
estimates that q reduction Of at least
thirty-hvs cents Of the present State Ia,
can BE- maaa. This. he shows, would
effect . saving Of $500, 900 yearly to the
Taxpayers Of the State. and an aegre.
gate Of 81 oo.O 900 in the six years oul
bonds have ~, TO run. Another II moi
the most important suggestion Of the
Controller. is the passage Of an Act Gre
ating . State Board Of Equalization, who
shall have power To squalize the asssss-
msnt Of all property situated in more
than one county; such Board to consist
of not moro than Ave nor less than thres
members. He argues at length in favol
Of this proposition. citing the great DIFF
ference In the valuation Of railroad pro
perry In different counties, IS proof thai
some general system Of equalizing values
Of such property should be adopted. An
effort Was made last session OF the Legs
laturs to secure legislation tending to thi,
rssult. but failed. From tho argument,
Of the Controller ii 10 apparent thai
some better system Of squalizing values
upon railroad properties Is necessary
and should DO inaugurated. Whether
the sugssstions Of the Controller shall
be adopted. remains for the Legislature
In its wisdom to decide. They strike
us favorably. and are evidently the re-
suit Of careful confederation OF the evils
10 he remedied. OF course the placing
Of such power in the hands Of a State
Board would or should also include the
power to enforce collection Of taxes a.
assessed by the State instead Of as now.
BY each county in its separate capacity.
There are many other suggestions OF the
Controller worthy Of special notice. but
10 which we are precluded from referr-
ing ON account Of limited space. Thoss
va have noted. however. are probably
the most vital points that will be raised
In the report. We shall hereafter make
further extracts.
We are indebted to Ass.mblyman Dow
Of Elko county, for a copy Of "An Act
10 create and organize the University Of