, 1879-01-11

re,n1... ... ......... ss,uso, Yas
Dip.,nrre,ne fur iwu years
General Ite;cnae Fund. sa,55s, KS, 9a5 n'5
'dlS il!inois t,un censral I'D Fund. oid.05o
Military Fund. 3lteta ,, ,o,
lsalalancn in stnsc Trcnsury
trt. /. ih1ts tt1clHctE all |
warrants ontstanltn;]- |
General Keyrnne Fnna. 81, S0f,7fs |
l!iinoi. central ;. I'D +. ad,.. 1a4,s;i
Military Fund... ......... 7s4l4
na,ance. ........ :. go. s.. III. eel
further examination of the disbursements
from the State Tscshuty during ttc bcnHs!
term gives tho following result: 'rhe diBbllrte.
merits Of tho Htate School Fund have beet tn
the payment to tho counttes vi school tax fund
tfu bupcrtnse se,,lent VI Public Instruction. The
Illinois Central Railroad Fund disburscd has
hcep ueed III The layHeht ut the principal ana
Interest VI tAv State dcht. Ttla Military Fund
l,ns been 1tshurtel to tho commanding off!Gcri
OF the several regiments. 1attA1lons. etc., under
tho appurttopHcnt muie by the Aututant.ticn-
rra!. Tbs cllet 1tcAI* Of dlehufsefnsnts, those
N TIC aencsal ltcscs!uc Fund, WHICH for tho
two yeara amount to ~, 533, .G9, arc ~ fol.
lows:
Notwithstanding expoutes Of all
0Gfttaa and departments Of tha atAto
Government nut specified bat0w.s... &I01. 471
;Issisis Isiss',;.: ,.: 45sS3S ::;9: :S
Ed4CasiunAl.... ...s................. III, JIM
.harltablu.,. -. tss..r... 4tt.ia sWs
t.orrectonnt ..;............... ,..... 40. os0
iioHss - ........... :. ................ :aLa5s
Fitting. Giniine. anti stationery ;. -. sisH
incluaiag taxes rcsunuca. ............ 100, OFT
Total. 81, 5;,S gy7
kTATE DEBT.
The prlnctpal of tha ttorded .lrbf Of tls
Flute. ouietandins Uct /. 1s7J, wan. 81. 47s 900
Paid during tho two ycnrs ending Sept,
aO, 1BsS..t'...s..t+.s. .s..s.s...... 0tu, Sot
statc debt outa.,nding Oct: i. 1s7s ssoa. 3l2
Since Tho 1st II Jahuhry the Ireaailtct
hus paia In New fotk. IN patsuanco
Of legal notice. bonds 10 the aMonntof FAC, b7o
pebt now acknowledgements. sase, ~
OF thI* amount thurs ls now duo nnd
payable. ut tho pleasure of tos State. .14e
The remnlnacf...... ......,..... 3lDl, 800
Will DO payable, at the pleasure Ut the}stQtc. on
and alter .lan. !, 1850.
II the Legislature would proviie for tho pay
incnt Of tcl.ool-funu Interest orders out VI tho
General Revenue Fund, as wus nUnr prior to
1873, The 1llillols Railroad Fund will more than
hulllcc 10 pay NIL tho principal Of tho bonttEd
Thus tho Stats Gun bo out OF debt whcu tho
next Legislature eungches, and thereafter,
under the Constitution, b,eh fund h appru-
pr'atcd ns'd set apart Tor ti!e paY'nent OF orll-
MUNICIPAL DEAT.
The Auditor, in his Ectxtrt. furnishes you
with vGry yaHabo and Instructive tal,Ic VI tliu
purt Of this debt hns been Incurred In n,nkiliE
t.seiE! alui nvresaary ltcal improvements un,, IL
represented by valuAbin n,an':s2at property:
At.out ~ per rcut VI this total ii m,,iInipal
drtt represents the raEIFusdald debt uf tho n,li-
DirIEAitirs u tie stbtc. 1lIe G.,Htltutln,t Of
| ths fiata now forblds all counties. tttIrs. OF
t,tirr municipalities Irnn making subscriptions
10 ca5ttal bttHi or .ttt,atlons h old VI any rail-
sOa.t ur private rOrtmtaa1,, uni further loEltids
thu tnctlfrtn Of u1lY indebtedness To IN amount,
ll!c,uuluK cxl.1tng Indebtedness IN thc aggre.
gala exetecia. & p'r cent on ths Falts4 Of
the taxahs property therein. rhe.c sro
| wsso anl lnrtunalo provisions, aEh uhurr
them tho municipal debt Of tbs Sta:c u
new Decreasing, and Will for some Year, cph.
| ior uhy extrnsaEant ~ unnecessary PURPOSE to
| such extent IL wuulI tp 4 Aeruus M Jury tn the
individuality, IL impossible untcr uuE prc4rat
CONSTITUTIONS.
Iwist' to respectfully urgn upon the Legtala.
tuep tue iMtlurtnittt Hi Y careful consideration
ul tue ieyr!iar SYSTEM. The .snslitur has sus-
g-stcd soac amendments " l,ltlt arr lestgt,r 10
| insure tllr tIute prOIspt cGlerttoa of layrs mud
fuller aud 1huru e'lial assessment, and II is III
Errat Importance that these al..c,.li,!ents shoui!
hr "iultel, nr sonlc legislation had looking to
this huIlt Cnl.
Wtnla mich can he done aud should speedily
be aol.r 10 uipruvs our present revenue aystci1l,
VIC u.o laye 4. c1tlsidcr llt tlv,IiuD wirtlier
It IL lrs,rnaIs by constitutional amendment tt
lnaka sDtne alteration Of tho kysteH. tt.ctl. TIE
iargc raYcnuc received from Tho lllt,DIs Centra
RAILROAD. unl which will stson b. available tuI
buylllrlst oi ordinary Stats expenses. lruyokel
the inquiry whether Il H,ay not be fosath!r Dv
system Ut lfeepsrs, nul taxea on rorpoEate rapi
I tal stsHk And lntsIslte. tu ra!Aa all thc genera
reyulllu fund In Y manner Which will tlilninlll
tbs expsnAss ot e.'itstt!on. save tile cuiasrass
| Ing Auu Iiillcult 4utatloila connected With thu
| EQUALIZATION Ut ass.ssIcHts, aud pa IN kubsk aI,
| tIal aerurllul,ca with tho theory vi uuf present
| Hysttnl, that every psFAoh or corporation sha!
pay tux III Just proportion. II lA y TACT that tut
pre.cnt systeus, IN It's psastival woFkiuvs, tall
| blluft Ut the constitutional requirements unte
which 1t Is tratuetl.
To settle this inquiry wlll Involve q lArg
aniuunt Of lAbor BY competent persous III TIL
cultcGtiop VI statistics, aud the study aud tom
paflSofI Ut tha revenue sfAtcm III 0ineE State
utld countries. l TesuIt,l.!eIa that tue l.s1talA
turc }'royl4c Tor this ~ofk betnE 4one By co,lluu
tea Ur co,ntulssiun, ~ thcy may deein expelent
Whatever niay bv dong, however. to cYu1iiz
| or sIllIp!ify tAs 1urIens OF taxation. they ztll
) urc bl,rleus. and the greater autS VI fhose VII
nuke ana Of those who execute the laws r.
! Iuatus III tle ubItlalon tu sec sAat whateEe
+ | iuunu}S atu ru!acl ahxil bo economically III
8 honestly expended.
u This State has always regulated the Fate {
t Interest lur money loaneu auu TN otnes col
:, truyts. Thu act ol Marcti 4 lsl3, lu4de the rat
9 per cent per aunuul, but declared any Eul
] lawful for 1he paytn.nt Vi which 81 exprst
c contract had breu u,ade. Tbe REVISED Stututt
Z ut 1888 legalHcd xuy agreed rate up IL u "
cent ptF annunl. Tile Kctlsxu Statutes Of Isl
authorized ti!e collection uf peF cent Der VI