The Palatka daily news. (Palatka, Fla.) 1884-1888, 1884-08-08
FINANCIAL STATEMENT.
Showing the Advantages of Demo
cratic Management as Compared
With Republican Rule.

Tallahassee Floridian.
When the republican party came into
power in 1868 the state debt, including
bonded and floating, amounted to 1891, :
856. .85, exclusive of $132.OOO bonds in
Indian Trust Fund, to offset which the
state has an admitted claim against the
United States more than sufficient to
cover the face of these bonds with inter
est, and when they turned the gov
ernment over to the democrats in Janu-
ary, 1877, the state debt, floating and
bonded, was 81 ,524, ,564.64, after deduct
ing $132, 900 bonds in Indian trust fund,
above referred to, showing an actual in
crease in the state debt of 81, 132, 727.79,
notwithstanding the fact that the repub-
icans assessed in eight years 1,097,
476.40 more than has been assessed by
the democrats for the same time.
On the first day of January, 1884,
there was no floating debt, but cash
balance in the state treasury of $89, 033.-
90, and the bonded debt had been re-
duced by democratic management to
81 ,097, 10000, which, deducted from the
stete debt at the end of the republican
administration ,524, 564.64 shows an
actual reduction in the state debt of
$427, ,064.64.
While this actual reduction in the debt
of the store has been made by democratic
tablished, and state securities have gone
up from fifty per cent. below par to
twenty-five per cent. above par. Besides
this the democrats have expended large
sums for charitable and educational pur-
poses, which the republicans could not
or would not do With an average an
nual assessment of $128, 434 35 for state
purposes less than was levied by the radi-
Gals, we have found means to apply
$194, 659.7S to the maintenance of lu-
natic asylum during the last eight years,
and to devote $4,000 to Normal schools
and Teachers Institutes, and 500, 600 to
a Deaf and Dumb Asylum, making $685.,
659.7S the democrats have been able to
apply to these charitable and educa-
tional purposes, while collecting $1,027,-
476.40 less taxes from the people, and at
the same time keeping the state on cash
basis. They have also raised for the
school fund from the state school tax
500, 155.07 more than was raised by the
republicans in the same time.
The increase in the taxable resources
of the state have aided in making these
things possible, but that has been
brought about under the auspices and
encouragement offered by the evidences
of good government inviting immigra-
tion and investments in the state, and
by di8encumbering the internal improve
ment fund, and thus leading to an un-
700 miles having been built since Janu-
airy, 1881, as against 537 miles built in
the whole previous history of the state,)
and other Developments, all adding large
ly to our taxable resources.
1t may be proper to add that provision
has been made for meeting the expenses
of the next legislature and a constitu-
tional convention when called
The democracy of Florida are before
the country with the record also of hav-
ing by wise and economical administra-
tion of the financial affairs of the state
reduced the state tax from $t25 on the
$4,000, to 10 cents on the $4,000, or
less than one-third the amount assessed
by the republicans.
In order to appreciate more fully the
benefits of democratic administration let
us recapitulate:
Actual reduction i'm state debt. .. S427, { "a, "a
Actual saving to the people in there-
duced assessment of taxes for eight
years. OPT 476 40