The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1879-01-16

IAS increase during the year In the
anlount of interest is $43,066.56, and the
decrease in the amount on hand is So, 1854,
q net increase Of 1913, 567.72.
CONTINGENT FUND.
On January 1878, the balance to the credit
of the governors contingent fund was 81 ,3O6.-
10. The expenditures from this fund from that
date to January 1, 1879, were $924.28, leav-
ing the balance to the credit of the fund at
the beginning OF the calendar year, $381.91.
INDEBTEDNESS.
The Indebtedness OF the state remains as
at the close of the last fiscal year, and con-
slsts of:
Bonds acknowledgements. $4,000 90
Currency certificates. ............. 81 90
Certificates of Indebtedness to
trust OBSERVATION-DISCLOSURES. 1855, UUO w
Total :. .........................~ 1852, 057 90
The indebtedness of the counties, cities,
towns, villages nd school districts in the
state amounts to $685., 1850, according to
the returns received by the secretary of
state. The total ascertained public indebt-
edness of the people of Wisconsin is, there
fore, So, O83, Observation-Disclosures than two
and seven-tenths per cent of the total as
sessed valuation.
ASSESSMENTS.
The values of all property in the state
subject to taxation as returned by the as
SCISSORS for the past two years, are as follows:
1877 1873
Personal property ....$ 77,3624S1 &C, 077 2oS 90
City and village lots.. 9l,521 992 103, 1899 469 rs
Other real estate.... 1872 895, 8S1 255 S63 904 81
$780, 1854 S455 34O5S2 80
Assuming that the sales of real estate, as
returned by registers of deeds, afford an APP
proximately correct ratio of the assessed
to the actual value of all property, the tax.
able property of the state in 1877 amounted
to $727, S71 $50; and in 1878 to 1897, 700.
1t is to be borne in mind that this is only
the property represented upon the assessors
books, and is exclusive of the property ex-
empt from assessment by law, and that
which is concealed and omitted. | think
it safe to say, therefore, that the value of all
property in the state of Wisconsin to-day
exceeds thousand millions of dollars, and
it is quite probable that the property not
by law exempt from assessment amounts to
that sum.
The public indebtednessis, therefore, but a
tride more than one per cent Of the actual
value of the property which contributes to
it's payment, instead of two and seven.
tenths per cent, as might be inferred if the
distinction between actual and assessed val.
udGlouS was HOt COHStdHbly kCpG LII m1uu
1t is important that the facts in regard to
such matters should be known by the people
no less than by legislators, that we may de
ceive neither ourselves nor others.
The influence of the public belief is an
important factor in the science of govern
ment. When taxes are levied at the rate o.
three to five per cent, there is an appear
ance of extortion which enables the dema
gogue to incite uneasiness and dissatisfac
ton; whereas, if property was assessed a
its true value, the rate of taxation wOult
be so much decreased that itiwould be i'm
possible to arouse SO much of unfoundet
suspicion in regard to the administration o
public affairs In the several spheres of gov
eminent from the school district to tn
state. Ii we continually assert and hea
asserted that we are poor, that taxes ar
burdensome, that the times are dull an,
hard, it is the inevitable law. that we shall