The White Pine news. [volume] (Treasure City, Nev.) 1868-1906, 1881-11-12
STATE FINANCES.

maps, Is as well pOSteu on lno present.
status and future resources of this
State as any man within its limits,
give the following not very cheering
outlook in the Sentinel The current
expenses of the State Government of
Nevada are, In round numbers, S22,-
500 per month. or 1910, 900 per year.
The total assessed value of all prop
erty ia the State barley exceeds S27,.
DOC, 900, according to the official re-
turns from the counties, except from
Storey. the valuation of assessed prop
erty in which is set down at ; DOT, 600.
The present rate OF State taxation is 80
cents on the one hundred dollars.
1'his, added to the high county and
town taxes, is clearly about all the
people OF Nevada can stand at this
time, when there is an almost uni
versal depression in our chief indus
tries. But with the Comstoek slowly
failing-the so-called backbone OF Gre
State giving way " it seems clear
slorgh that even worse times are not
tar ahead Let us see, however,
what our present financial status is
without looking into the future at all.
Let Us take a mi Idle round between
optimisl and pessimist-that is, let us
neither presume upon ~uncoyering
any more big bonanzas on the one
hand, nor on the other hand let us
entertain the thought that Nevada is
roing to ''peter out" On the by.
pothesis that our taxable values con-
tinue at s27 900 900 whether they will
be more or less can only be specialized
upon, and the tax rate for State ex-
penses remains fixed Mt 80 cents, let
the balance be struck between the rev.
enue derived therefrom and the ne
cessary governmental expenditures.
Provision has been made by law for
this purpose; q per cent. Of the 80
cents is set aside TO redeem and meet
the interest on outstanding bonds.
Place the remaining available rate at
so per cent. on the hundred dollars,
throwing out of the consideration the
cost Of collection. On this basis the
yearly income Of Nevada will be
SIs6,30 per annum. This sum de-
Quoted from the yearly expenditures,
leaves a deficit of Ss3. 700. And this
calculation is made without consid-
ering the heavy expense OF the bien-
NAL sessions Of the Legislature. The
number and mileage OF this body
were somewhat reduced by a law
passed last winter; but it Will be en-
tirely within bounds to say that every
future meeting of the Nevada Legis-
lature, under the present law, will
cost the the State at least $50, 900, or
annually 100000. This will put the
excess of debt over income yearly at
Sll3, 700. Confronted by this unflat-
tering outlook, the query comes up,
as suggested by one of our contem-
poraries, what are we going to do
about it? When the Legislature CON-
venes on the first Monday in January,
1883, there will be no money in
the Treasury, and the limit OF the
States constitutional borrowing pow
er will have been nearly reached.
The Constitution Of Nevada fixes the
limit Of State debt at $500, 0Qp., which
by the time indicated will have been
exhausted to within between 800, 900
500 900. After the adjournment of
the next Legislature it is certain
that there will not be a sent in the
Treasury, and what is OF infinitely
more seriousness, the State will not
be allowed to help herself by the only
remedy left to the poor, that of bor-
rowing, for a commonwealth cannot
sfSaal.