The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1889-01-17

may DC Suppll0u, anu eAb bHo Sdl1o IlL1C
the levy for revenue may be reduced to
this being the rate for several years
prior to 1888. With the large addition
to the taxable valuation yielding at
given rate correspondingiy greater rev.
enue. it IS reasonable to hope and in
sist that the state, in all its various in
terests, may be amply provided for at
reduced rate of levy.
INVESTED FUNDS.
The permanent school fund invested
at the close of the fiscal year amounted
70 the sum of 1885,. S34.S6. The in
vested Normal School fund amounted
to SOL ,279. The State University fund
invested. Sill, 49I. State Agricultu-
raj College invested in bonds S473, 056.-
II. and on land contracts S24 ,629 90.
All of these several amounts are bear
ing interest averaging six per cent per
annum. The invested sinking fund at
the close of the fiscal year was S12, 900
in state bonds, hearing seven per cent
interest. The annual levy for this
fund should be resumed, SO that the
bonds of the state may be paid at ma
turity.
INCOME DISBURSEMENTS.
The disbursements to the several
counties of annual school funds, de-
rived from interest on sales of school
lands, and invested permanent fund
for the fiscal year ending June 30,
1887, was $515, 90S.37, and for the fis-
cal year ending June 80. 1888, was
$500, 1905. The income paid to the
state university from its investments
made from the same period, was, in
1887, SIS, 291. %, and in 1888, 80 329 81.
To the State Normal school for 1867,
sl2, 100. and for 1855 sci 600
from unpaid balances on sales of land
in addition to the funds invested. To
the Agricultural College for 1887,
$50, OO3 so, and for 1888, S31, 016. S3.
These amounts should be considered
in making appropriations for these
educational institutions.
SINKING FUND.
The tax levy for sinking fund for
the final redemption of state bonds has
been omitted for the past two years,
and a law authorizing the funding of
| the matured or the maturing bonds
during the years 1888 and 1899 duly
passed.
1 cannot understand why a state
like Kansas, with an assessed valuation
of 1858 ,24S, 1928 and a debt of only
| $915, 600 falling due in different years
up to 1899, should find it necessary to
fund, particularly SO when the state
treaSurer'S report showed that on
March oath, 1885, he received from the
national government, on account of eX-
penses incurred in repelling invasion
and suppressing Indian hostilities, the
sum of 1892 1908, 13 of which under an
existing law he credited to the sink
ing fund $685., 500, state bonds having
been issued in payment of such eX-
penses. Tn q balance, $40 sos, 13, was
credited to the revenue fund. In the
same report it is shown that in order
to provide sufficient sum to meet the
appropriations of the legislative ses-
sion of 1885. it became necessary to
transfer the said S282, 500 from the
sinking to the revenue fund. This, it
appears, was done by authority of
an act of the legislature passed at the
! special session of 1886. Thus the
of the revenue. an amount exceeding
one and one one tenths mills levy on
all the taxable property of the state at
that time. Business sagacity would
have tolerated an increased levy to
this amount rather than fund debt
npon which interest must be paid for
the next twenty years. 1t is hoped
that the levy for sinking fund will
be revived. so that the state may De
able to meet its bonded obligations as
they severally fall due.
STATE DEBT.
The state bonds, outstanding at this
date are 1903, 900. $S7. 900 of which ma
tuTed January 1st, 1889. Of this sum
$50, 900 is held by the school fund. and
81 900 by the sinking fund. The fund
ing of these bonds is provided foI
under the law of 1886. The next
bonds that fall due are So, SOC
maturing October 18th, 1894, all OF
which are held by the state schoo
| N
mature; these are also held by the
school fund. On July LIST, 1896, $780,
600 fall due, $38, 900 of these are held
by the school fund, and 1872 900 by in.
dividuals. On July 1st, 1897 5000 .00(
are due, $50, 600 being held by the
school fund and BIS 600 by individuals
On July 1st, 1898, three different Is
sues of the bonds mature, namely
one of $3.50 900, one of $50 900. and
another or S20. 900; total, 1920, 900. OF
these, S116, 900 are held by the schoo
fund, 81 900 by the sinking fund, anC
50 900 by the state university fund
and S84 900 by individuals. January Is
1899. the balance of the state debt
excepting a funding bond for $1S,
600 issued under the law of 1886, ma
lures, being two issues of bOnds-ont
of $4,000 and one of $50 ,0O0-equal t.
S159, 600. OF these, S25 900 are held
J
state school fund. Thus it will bG
, feen that the actual amounts neces-
: sary TO be provided for 1.-THE same be
, ing in the hands of individuals ant
corporations)is On July 1st, 1895
S32, 900; July 1st, 1897, $4,000; Jul.
1st, 1898, SS4, 900; January 1st. 1893
} S25, 900; total, $256 900, the balance
being held by funds which the stat
controls.
, The state debt has decreased sine
the date of the treasurer's report $12.
} 600, leaving the amount actually out
2 standing, as above stated. 1903 600. o
3 this, $785, 600 falls due within tn
: next ten years. Computing upon tn
. present assessed value of the state t
/ meet this, it would require an annua
= levy of about two tenths of one mill
which of course would be decrease
] with the increase of taxable wealth
D Ordinary prudence would suggest
decrease in expenditures to a sma
j degree in some direction, rather tina
J. continue the payment Of interest TO
9 twenty years, as the funding of tn
S debt would contemplate. What
/ sound fnan cialpolicy for the pru
, dent business man is also goo
I financiering for the state OF Kansas
l AS my predecessor aptly and wisely II
g marked in his message to this legisls
ture. PAY as you CO." This motto
: applicable TO the state as well as I
every municipality.
LOCAL TAXATION.
The amount raised by taxation fo
> state, county. townships, and schO'
g purposes, on assessment of 1887, wa
: S11 ,496, 707.58. namely: state, l ,274 ,953
n Oh; county, So ,551 ~. 04; city, 81 ,593
d 3S2.45; township, 81 ,246, 738.07; an
q school, 50 ,S12 ,640.3l, an average rat
E per cent of 1870 upon each 800 of a
r sessed value.
}, The taxes levied for purely local pu
l. poses are indeed burdensome, and al
}. the only ones complained of, thong
g entirely selfimposed. The state lev
It is small compared with the amount
a collected in defraying the expense
{, of various municipalities. What tn
q state exacts is only about one-nint
IS part of the whole amount collects
l. the balance being for purely local pul