Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1889-09-05
OHIO FINANCES.
They are i'm a Better Condition
Than Ever Before.
A Statement Made by State
Auditor E. w. Poe.

A Statement Made by State
Auditor E. w. Poe.
An Explicit Denial of the Charge That
Unlawful Use was Made of the Sinking
Fund-Not One Dollar Has Been Used
at Any Time Except as Provided and
Directed by Law.
Auditor of State Poe makes the fol-
lowing statement regarding the financial
condition of Ohio:
AUDITOR OF STATES OFFICE,
COLUMBUS, O., Aug. %, 1SS9. J
To the Public:
In answer 10 inquiries by letters and other
have thought it best to make statement
in as brief a manner as l can, and yet so
simple that any schoolboy can readily under
stand, when he has read the statement, what
it contains and what it means.
On the Sth day of February, 1889, in an
swer to a resolution introduced by the Hon
Boston G. Young and adopted by the house
of representatives, | submitted a report
showing the then present condition OF the
finances of the state, and what, in my opln-
ion, would be their condition July l, 1889,
including in said statement the taxes due
June 20, 1899, which are now being covered
into the state treasury. The following is
part of said report, covering the general
revenue fund, sinking fund and state COM
mon school fund:
AUDITOR OF STATES OFFICE,
COLUMBUS, o., Feb. 5, 1889.
To the House of Representatives:
GENTLEMEN-In compliance with the terms
and provisions Of house re olution No. %,
offered by Hon. Boston G. Young, and this
day adopted, l have the honor to report
that
There is in the general revenue fund
in actual cash money subject 10
draft. SJu29Jo o.
That there remains to be collected
from the several cou lty trt asur-
5, upon the December pa cment
o tlIe and from other sources
for the general revenue fund, the
sum of a bout .... 75OU00 90
To.al sh on hand and to be col
lecIed as above. Se02OOO W
LIABILITIES.
The tot | liabilities of the general
reYf nue. Iunu on account OF un
paid al preparations is. ....... S3S4, 80 s.
In adu.uon 20 the foregoing there VIII be
such further liabilities to be paid out of the
general revenue fund, after Feb. Is. 1889,
as may be created by appropriations made
by your body.
SINKING FUND.
The amonnt of money in the sink
ing fund in actual cash i5........S 1881 II
Their. is due and payat lie from the
county eas urers Of the state for
the sinking fund from collections
AREA Iy made by EN-, about. $4,000 90
Against VIII ch they will be entitled
on settlement 10 credit for inter
est on irreducible deb amounting
to about. ....................... 10000 %
Leaving q net su us on February
settlements of ABOUT ut............... 10000 90
There are no liabilities against this
fund maturing until next July l,
ct WI ich time there will be aid
from it of the funded Gebt 25O,000 %
Interest on funded deot 1850 90
Total .................... .... s25a,6OO 90
To meet these liabilities there will
be due and payable from the
CO lnty treasurers upon tn Febru-
airy settlem Mt as shown above - $40 900 90
From the county trea 'urers ucon
next June's collection of taxes.
about .................... ....... $4,000 90
Making the to al amolnt of money
in the sinking fund July l, 1881 S5ti,0O0 90
Against which the tot L liabilities
a.e as shoAn above. 25,6OO 90
Leaving surplus in sinking fund
July /, 1889 ...............-... s2iS, 400 90
STATE COMMON SCHOOL FUND.
There is now in the state common
nd al D, ,
Against this fund there are no liabilities
whatever, except those created by your re-
cent appropriations to meet which the in
coming revenues for that fund will be more
than sufficient
1t affords me pleasure in submitting this
report, to call your attention to the fact
that the financial condition of the state is far
better than it has been any time since Janu-
ary, 1885, arc to suggest that if the general |
assembly will but exercise the same COM
mendable economy that characterized their |
appropriations du ing their last session, the |
state will have almost entirely recovered by |
the end of the present year from the deplorable |
condition of bankruptcy in which it was |
found at the close of Governor Hoaily's ad- |
ministration
! wan1 now to verify the above statement |
by the following: At the close Of business
Aug. II, 1889, there was in actual |
money in the general revenue fund subject |
to draft, $cD1, $40. II. All liabilities against |
this fund have been paid as fast as they be-
come due and presented for payment.
Tie amount of mon in the sink
ing fund, all in cash, is.........S 97,6l6 60 |
There is due and la able from the
county tre6surers of the state, for
the sinking fund, from the June
collections already ma e by them
Leaving surplus in this fund of S27S 265 G.
Being So, ,So6. 69 greater than my estimate
of Feb. s, 1889.
There are no liabilities against this fund
until next Jan. l, at which time
the fund, as hereinafter shown, will be more
than ample to meet all demands upon it.
STATE COMMON SCHOOL FUND.
There f. now in the state common
school fund. Aag. Il, 1889 . SIS, ,297 81
This sum will BE- decreased by the
amo lnts due counties yet to set
tie for June collections of tax s.
about. 4s.25O 40