Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1878-03-21

In 1917 3O6, ,76S, ,73O S3,864, ,43O
Ia 1857 535,62O,6S2 263, ,793, 1897
In 1867 673,993,757 464,75l ,O22
In 1877 1854, ,415, 1888 400, 1870, 1897
Taking the two periods, one inclu-
ding the war, and the other since, we
find the following ratios of increase,
viz:
Per cent Per cent.
From 1857 10 1867 10 80
From 1867 to 1877. 81 5
There was just as much money in
the country in 1867 as there has been
since. Yet we gee this extraordinary
result, that realty had increased four
fold, and personality scarcely at all.
This corresponds exactly with observa-
tions on the times. Trade-commerce
has not increased, and consequently
personal property could not. Railroad
property has declined immensely
Stocks of goods have decline d. On the
other hand, prices of produce have
been comparatively high, and farm
lands, tested by the only fair te-t, the
value of their produce, are worth more
than they ever have been. If this be
not the true reason, then the above fig
ures are unacceuntable. The whole
value of property (that is, assessed val
ue) in the last three periods was:
In 1857 SS49, ,414, ,579
In 1867 1,148,754, ,779
| In 1877 1,574,645, ,765
The total increase of assessed values
in three periods is nearly the same.
2.-TAXATION.-We will take only
that Of three periods:
| State tar Total tar
In 1857 S2.609,39 S6,673, 29S
In 1867 1881, ,099 20, ,253, ,615
In 1877 1850. .3!9 27,514, $50
By deducting the State tax from the
total tax the reader will see that the
local taxes are fourfold more than the
| State tax, and they increase much fast.
er. In fact, the State tax Is not now
increasing at all. From 1867 to 1877
the State tax increased only $579, ,28O,
while the local taxes increased s., ,261,-
O35. The aggregate taxes have con-
siderably more than doubled since
| 1861, the commencement Uf the war.
| In lOokidg into the valuations and the
rates of taxation, they seem to have
been but little affected by the amount
of currency, since the l,rgest proper
| tion of increase has Occu red since the
currency was at cOmpir'tive stand
still, and in fact rather decreasing.
That the speculatiOns and commercial
excitement after the war had much to
do with this increase we have no
doubt. Since 1867 property assessments
have increased forty per cent, and tax.
es tbirty-five per cent.
DEBTs.-All the debts, that is, pub
lie debts of the State, are much less
than is generally supposed; probably,
in proportion, less than that of any of
any of the large States of the Union.
The following are the public debts:
Funded State debt $6,479, sos
Irreducible (school fund) 4,23l ,404
Debts of cities SO, 762, 1856
Debts of townships Dos, 1888
Debts of Incorporated villages 979, ,351
Debts of special sch. districts 1,469, ,237
Debts of counties 2,909, 1852
Total $5O,Os9, ,4ss
The State is really only the funded
debt, the other being the school fund.
Two. thirds the city debt is in Cincin-
natl.
The total amount of all public debts
in Ohio is little over One-third of the
city of New York. In fact, il we add
to this the mortgage debts and the
commercial debts, we shall find that
Ohio is less in debt than any of the
large States; and, as consequence, its
business is more stable, and its proper
ty less liable to fiuctuatiOn. The total
real value of property in Ohio is at
least 50, 100000, 900. The total public
debt is less than three per cent on that.
Excluding railroad mortgages, the
mortgage and commercial debts do not
exceed 800, 100000. If we put down
all the debts of Ohio, excluding rail-
roads, at 5000, 0,O00, 900, we shall be above
the mark; that is about nine per cent
on the entire property of the State,
and at least half of this is due among
its own citizens. 1t is impossible that
the people of such State should be
seriously embarrassed.
4. EXPENDITUREs.-'rh eXpendi-
lures of the State are divided into four
classes-the general revenue fund,
which really includes all the State ex-
penses, the asylum fund, the sinking
fund, the common school fund. These
amount to:
Asylum fund 1,840,715
Common school fund 1,5S8' '68S
Total $4,726, Alb
Most readers will be surprised to find
that OF 81, ,000,0 900 levied by taxation so
small sun is levied for State expen-
ses. In truth, the expenses Of the
State OF Ohio are very small, compare
lively. The State tax is $40 mills,
and is one ODe-sixth part olly of the
whole tax, the other five-sixths being
for local purposes. OF the whole State
tax, only One-seventh part Is for State
expenses properly; that is, four-tenths
OF u mill, or one thirty-ninth part of
the total taxes.
The reader may be equally surprised
to find that the highest expenditure
by the State is for the asylums. The
Columbus Central Asylum has been
several years building, and has cost n
great sum of money. The furnishing
of that asylum alone has cUst $l00, 900.
We have now six asylums for the in
/ sane, and the expenses for them are
very large. But no citizen of Ohio
will regret that the State has made
ample provisions for the infirm classes.
The school tax has been constantly d.
minishing, the great cost Of schools
being now thrown on the local muni-
cipalities. For example, the school
expenses of Cincinnati amount to half
OF all the school tax of the State.
The sinking fund tax Is paying the
interest and part of the principal OF the
State debt. 10 u short time the whole
State debt will be paid. This brief re-
view of the main items Of the Audi
tors report shows that Ohio need not