The Sedalia weekly bazoo. [volume] (Sedalia, Mo.) 187?-1904, 1885-01-13
9.267,242 Sc
PUBLIC DEBT STATEMENT.

BONDED DEBT, JAN. l, 1888.
State bonds outstanding S13,947 .0O'
School certificates of indebt'ess 1903, OOt
Certificates of indebtedness
for seminary fund 122 .00t
Total debt Jan. l. 1888 S16.97S .00(
I'm 1883 and 1884. state bonds were re.
deemed and purchased aggregatins
S2.144 900.
During these two years the State inter
est bearing debt was increased BY reason
of certificates havin. been issued TO the
School and Seminary funds Is follows:
| For the State school fund So .00(
For benefit State University 3S7 ,O0t
$40, 200
Deducting certificates issued from
bonds redeemed and purchased, the ac-
tual reduction of the interest bearing
debt in 1883 and 1891, was 81, 735. 900.
leaving the debt Jan. |. 1885. as follows
State bonds outstanding ST., 100000
School fund certificates 2,931 900
University certificates $4,000
Total interest bearing debt--
January /, 1885 Sl5,243, 900
The above statement includes bonds
issued to the Hannibal & st. Joseph
Railroad Company.
The annual interest on the public debt.
as it existed January l, 1888, amounted
TO S1.01S.6S0.
As it now exists. the annual interest
amounts TO S9l0.490.
The annual interest on the bonded
debt. as il now exists. is Sos. $50. On
the certificates in the School and Semi
nary Funds the annual interest amounts
TO 500. $40.
These tables show an increase i'm val
uatiOn in 1882 over 1881 of 47.544. 369.-
IL. In my former message to the legis-
latriTe this language was used: IF the
rate of increase i'm values is as great for
1888 "a 1882. think the valuation will
exceed 800. 5000 Ii exceeded nv
actual increase of 1883 over that of 1882
of S76.50S. 0l6.59. an increase of s124.-
o.. $3.50 in values for the years 1881.
1882. 1883. This rapid increase in values
must soon secure reduction of taxation
the desideratum of all good government.
Under the constitution. the rate of State
tax cannot exceed forty cents on the
500 valuation. Section s of Article 10
of the constitution reads as follows:
1.-The State tax OH property. exclusive of
the tax necessary TO pay the bonded
debt of the State. shall not exceed TWEEN
ty cents on the hundred dollars valuation
and when ever the taxable property of
the State shall amount TO $500, 000. 900.
the taxes shall not exceed l5cts." If
the large number of bonds, notes and
other evidences of debt. now held in
within and without this
State by its citizens, were honestly given
i'm TO the assessors, that amount would be
largely exceeded at the present time. If
in the wisdom of this legislature, the
of the public money should
be carefully guarded. and made only i'm
the reduction of the existing State debt,
in the preservation and enlargement of
its various institutions of learning, and To
carry on the necessary expenses of the
State. then in my opinion we may begin
to look to an early day. when the reduc-
ton of taxation may be had. L hope be-
fore the next general assessment of prop
erty is made. which will be in two years
from this date.
PUBLIC DEBT.
The public debt has been reduced dur
this administration Is follows:
LII 1901 So2'OVO w
In 1852 100000 90
Total S712.OO0 90
If TO this sum is added the S250.000 re-
venue bonds also paid in 1881, issued
uuder the act of Nav .. 1879, will make
the aggregate reduction of $780,. 900 of
the liabilities of the State. within those
two years.
This large sum of interest annually
paid on the bonded debt of the State is
heavy draft on the energies and indus
tries of orr people, and should be reduc-
ed as rapidly as possible by the reduction
Of the debt. This can only be accom-
plished by severe economy in the appro-
priations of your respective bodies. do
not suggest parsimOny, which, if carried
to too great an extent. is as productive
an evil as profligacy, but that judicions
which Is impressed with en-
ightened craftsmanship and a proper |
of the distiny of our prosper |
Ous State.
Not having been supplied with the |
necessary data, L am not able to make a |
definite estimate of the amount |
Of money necessary to be raised by taxa |
ion for carrying on the State govern
ment for the years 1885 and 1856. |
think the amount will approximate |
BIZ 800, 900, which will not materially |
liffer from that of 1888 and 1884. The
increased population of the State, with |
The necessarily increased demands upon |
It's resources, may increasee that sum a |
lew thousand dollars.
!. The following table shows the receipts |
from all sources, with the disbursements. |
transfers and balances for the year end
M December 81, 1884:
January l, 1888 $500, 1853 90 |
and transfers. 1888. 4,6O4,7l7 20 |
Total, S5.465. $50 81 |
and
transfers, 1888. 4,452, s52 40 |
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