The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1878-01-10
SUPP ] | ! ! IE'AENI.
Biennial MESSAGE
GOV. JOSHUA G. MVB0LD,
STATE OF IOWA.


Genslsnso Of tbs ssnsss aad Houss of Rsprsssn-
tstives:
The General Assembly having Il it, last ses-
sion elected The distinguished citizen who then
occupied the ofice Of Governor to tho Senate
Of tho United States, that gentleman resigned
the ONCE 70 take eject February I, 1877, Whsre-
mon me- It. powers and duties devoived upon my
sslf ~ the Lisutentant Governor. It therefore
becomes my duty on this occasion 70 communi-
cate " to the General Assembly the condition OF
the State, and 70 recommend such matters -
may deem expedieut."
You assemble under circumstances rather
more auspicious than those which greeted your
predecessors, although the biennial term has
had its deep shadows - well ~ IL bright sade.
The State has been freer during the term from
the insect scourge which had wrought 70 much
devastation formerly than for several previous
years, and during the year Just closed It has
almost entirely disappeared, let ~ hope par
manently. Except in soms parts Of eoutheast-
arn lows, the past year has been ons Of boun-
tifnl crops and wealth Infringing harvests.
The reports Of the Auditor and Tfeasurse Of
State make. regret TO ny, : very unsattsf.c-
tory showing Of the financial condition Of the
State. The fiscal term began with balance in
ceipts into the treasury during the term wera
e1.9e3, 470.66 and the expenditures =, 1885,
56975. Deducting the excess from the balance
Of two years previous, we have e25.66 cash In
the general revenue. In the last biennial meg
sage sf the Governor, be stated, on the Audit
ors authority, that there might reasonably b
expected, during the term, d, $50 900 Of re-
ceipts, 70 meet S1,65s. 927 Of expenditures Al
ready provided for by law, leaving e406, 078 to
be used for special purposes. The appropria-
tions made by the Sixteenth General Assembly
over-tepped this margin 10 the extent Of nearly
$500, 900. The result was that ct the close Of
the fiscal term there were e267.776.si Of
the cash on hand, We find the State with .
floating debt Of $207, 750.75, which has since
been increased until 1t reached, on the 9Th in
slant, the enormous amount OF $340, 826. IS,
more than 800, 600 In excess Of the constitu-
tional limitation Of indebtedness, to say moth
ing Of the funded debt. This is : condition Of
affairs without parallel in the history Of the
State. At the close Of the previous term the
net floating debt was $2O, 890S7. The COM
monwealth ought not to set an example Of
dilatoriness in meeting it's obligations. OF all
forms Of indebtedness that Of floating char
acter is tho most Objectionable. The uncer-
tainty as to its amount will invariably enter IN
ing with the State for supplies, material or Ia
Dor. To remove the present difficulty, and to
avert recurrence, ] look upon as the most inn
portant work that will demand your attention.
The funded debt Of the State Is comprised
Of $500, 600 war and defense bonds, due July,
1881, and $24S, Is owing to the school fund,
together drawing during the term $83, 541. Is
interest. The interest paid on the floating
debt for the same time was $1O,52A71, and
from the 1st Of October last to the 9TH inst .
inclusive, 81, 253 IS more was paid. Several
thousand dollars should also be added to the
States expenditures by reason Of discount,
paid by the various institutions, on State war
rants.
The Auditor estimates the receipts of the
term now begun at % 0a2, 600, and the ex-'
penditures for purposes contemplated by ex-
listing statutes at 81, 745 660, the excess Of re-
ceipts being S346, 340-only trile more than
the sum of the outstanding warrants, The
Legislature, at almost every session, finds il
necessary to increase to . greater or less ex-
tent the ordinary expenses Of the State !; and
i is not improbable you also will find such 90
ton necessary. The amounts thus voted will
doubtless absorb al the surplus to be derived
from the present tax-levy. OF course, il the
General Assembly shall deem it wise that no
new public buildings be commenced, nor
greater accelerstion be given to the compile
ton Of those now in process Of erection, the
anticipated revenues Of the present term will
perhans DO sufficient for all the ordinary and
established purposes of the State Government,
as well as to meet its present unfunded liabili-
ties, although interest on warrants must con-
tinue to be paid for several months 10 come
But am Of the opinion the General Assembly
will not be satisfied that the States interests
are to be subserved by failure to make suita-
bic appropriations for the erection and conn.,
pletion Of needed public buildings, and for the
maintenance Of our charitable and educational
institutions. II such be the case, means must
be provided to meet the enhanced expenditure
that may be authorized, and this can only be
done by an increased levy or by borrowing
money. The latter would seem to be out Of
the question until at least the debt shall have
been brought within the constitut onal limits-
ton. In my Judgment experience has shown
that the reduction OF the maximum amount of
the State levy to 2 mills, made by the code, was
an error. The receipts from the tax levy at
this rate with interest on taxes, will fall at least
$5a, 900 short Of meeting the ordinary expenses
OF the State; including the annual appropriation
for the new CAPITOL leaving the other sources Of
reyenne-the insurance, the taxes, the insane
dues. the fees, etc.-to make up the balance,
and meet additional expenditures the State NAV
undertake. The receipts from these items.
during the past two years, aggrega,ed $685.
42l.73. The General Assembly has for several
years appropriated from 100000 to s5OO,OOO
in excess OF this sum. Prior to the adoption Of
the code, the two and . half mills did not much
more than meet all demands after the expenses
Of the war had been reimbursed to the State.
] am clearly Of the opinion that the maximum
rate should be increased; and that it ought also
to be sufficiently high to permit OF ct least half
q mill more for the levy Immediately preceding
the legislative session than for the other Of the
biennial period. observe that EUR sister State |
Of Illinois adjusts its levies so as to raise one
third more revenue for the legislative year than
for the other year Of the term. In our own |
State, the expenses Of the Legislative session, |
the additional printing and binding, |
and the special appropriations made to be paid |
would absorb almost, il not quite,
III of such additional rate
Another suggestion has been made towards
,losing the financial chasm before us, which
3 to increase the gross valuation by Legislative
vet. That the present is far below the real |
1aluation is manifest. We're it doubled it
would represent not more than the truth, TAX
ng the State throughout. But, on the other
iand, there are paris Of the State where the
and true valuations are alike or nearly
o. OF course these could not be raised with
nut injustice, and it would seem difficult to