Lexington weekly intelligencer., 1883-01-13

tion of Ryan, thus placing in the
treasury, from another source, money
that had been expended by the state
in the capture of one OF the outlaws.
REVENUE.
Under the law, assessments upon all
taxable property, except merchandise,
shall he made between the first days
of June and January, aud the vaius-
,iom is placed upon it the first day OF
OF June. The taxes upon this assess
ment are collected the following fall,
being something over a year after the
assessment is nIade. Real estate grad
ually increased in valuation in 1850
aud 1881 and more rapidly in 1882.
The crops iu Missouri in 1882 were
the largest grown in many years some
computing that the wheat crop in
Missouri this year will reach 5O,0O0.-
600 bushels, and the corn crop 250.-
OOO, 900 bushels, while the expectation
of apples amounts to 10000, 900 BUSH
els. PrOpOrtiOnally large crops of
potatoes. hemp, oats, fax and various
kinds of grasses were produced.
The assessed valuation of property
for 1880 is the assessment upon which
the taxes Of 1881 are due and paid.
1881.
Real estate. ,104, ,426 90
R.ii.oad c companies. . .... So S.SS.s9s IS
bridges ;..........:..... .......... l,Se5 0oO W.
Total. .$6Ol IL. Ss3 30
1882.
Real estate. .s26, ,7t2 co
Personal property rty............... l10 Sl3. .9I6 90
kaiiroad companies s.............. IS, ,3lS. .sS ~
Telegraph Companies ...,....... .. sas, ,7sS 40
/. Total. .$649. .2s7 ,2is IS
These tables show All increase in
valuation in 1882 over 1881 of $47,-
544 1863 IL and u general appreciation
in values in all kinds of property. If
the rate Of increase in value is as great
this year AZ last, think the valuation
this year will exceed $500, 100000
This will spring from Two causes:
First, the natural increase in the value
of property and, second, the introduce
ton of other property into the state.
The taxes are rapidly diininishing.in
| consequence of increased valuations
aud tie rapid growth aud develop
ment Of the resources of the state.
Under the present constitutions, the
state tax rate cannot exceed forty
cents OH the hundred dollars valuation
one-hslf Of which is set apart for the
payment of the interest on the state
debt and the reduction of that debt,
! which reduction, under the cOntitu-
ton. cannot be less than $3.50 ,GGG per
annum. Twenty-Five per cent. of the
remaining half of the taxes is sacredly
set aside tor the support of the public
schools of the state. This leaves only
fifteen cents on the hundred dollars
for the support of the state govern.
ment, the pay of the legislature, costs
In criminal cases and the maintenance
of the various eleemosynary institu-
tions of the state. No state manages
its affairs more economically. This =
accounts for its prosperous condition.
During the present administration the
public debt OF the state has been re-
duced as follows:
In 1881 .Se52 900
Total al......"...........:... $7le. 600
| This sum shows the amount Of
bonds taken up aud retired since JAM
uary 10, 1881, with the surplus revenue.
proper, OF the state, and does not in
clude the $3.50 900 renewal revenue
bonds-also paid in 1S81-issued uu-
der act of May 9. 1879, making a total
reduction of 1862, 600 of the liabilities
of the state. Ii other bonds could
have been called during this year, or
purchased ut a reasonable premium,
there is now sufficient surplus revenue
on hand to retire $500 900 more of the
states Indebtedness.
In the face of this exhibit, I am un.
able. to see the wisdom or justice of
that part of the decree recently made
by Judge McCrary, at Keokuk, To-,
III the Hannibal aud St. Joseph rail-
road case, requiring the state TO use
the whole or part OF the SIS, 900 900
involuntary received by the state-in
the redemption or purchase OF its
bonds, or account tor the interest on
the money, when the facts show that
the surplus revenues OF the state are
sufli ;ient to retire its bonded indebt-
eduess at maturity, without touching
any part Of the $4,000. .O00-which
forces the state to 60 into the markets
aud purchase its bonds at a large pre-
mium i'll order to use its surplus
moneys. The state has no option
bonds afloat. At no previous period
has the states Indebtedness been so
rapidly diminished or the state grown
SO rapidly in those elements which
give t state character at home and
abroad, as within the last two years.
The credit for this belongs to the
people aud their officials, here and
throughout the state. who have per-
formed their duties so honestly and
efficiently. The effect is observed and
appreciated abroad. call your atten-
ton TO the followsng extract from
letter received by me from q repuL-
able banking firm of New York City.
II take the liberty of enclosing quo.
tations at the New York Stock ex-
change of this day OF the various secur-
ties dealt in there, and beg leave to
call your attention to the quotations
of Missouri state bonds. You will notice
that the figures given for Missouri state
bonds are bids only there being but very
few of these bonds for sale; and when
any are offered they bring very much
better prices than those stated in the
list. was in negotiation with a saw
ings bank here to-day, aud offered to
take their bonds on basis of ) 4 per
cent, Investment. and yet our bid was
rejected. Tnis fact should be grat,fy-
ing to those taking an interest in the
financial affairs of the state oil Missouri.
BY referring to the quotations you will
perceive that the bonds OF the state Of
Missouri not only compare favorably
with all other state bonds, but in point
of fact will bring more than any state
bond dealt in upon our stock exchange.
l take pleasure IN stating to you that
your bonds will not only sell Tor mora
than the bonds issued by the states of
Connecticut, Michigan, New York.
Ohio and Rhode Island but that they
will bring fully as good prices as Mas.
sachusetts state bonds. which, at one
time ranked much higher than United
States bonds.
81 believe the financial condition OF
your state at present is such that YOU
Will have no occasion 10 issue any bonds
at present.; but were such not the case,
10 not hesitate in saying the bonds of
the state bearing 4 per cent. interest
could be readily placed at good prem-
] [c0ntinuea on Fourth Pase.l