Phillipsburg herald. [volume] (Phillipsburg, Kan.) 1882-1905, 1889-02-01

[
period, every aCtual and Necessary want naRy be
Supplied and at the same time the levy for rev
tenthz mills this being the rate for several years
prior TO 1883 With the large addition 70 the /
. taxable valuation annually yielding at a given I
rate cOrrespondingly greater revenue. It is reas-
oa bic to hope and insist that the State in all its
INVESTED FUNDS.
The permanent school fund invested at the /
close OF the fiscal yesr amounted to the sum of
"a G5A. 83A So The invested Normal School funff
amounted . 81 ~ ~. Ihe STATE gElyeEai5y 3pnd
invested in bonds SA7S,O56. H. and on land con
Tracts Sz4,01s.5o, All OF these several amounts /
are bearing interest averaging SIX psE cent. per
aunun1. The invested sinking fund at the close
1Lng seven per cent interest. The annual levy
bonds OF the State may be paid at maturity.
INCOME DIsBERsEAIENTs.
The disbursements to the several counties of
annual school fund, derived from interest on
sales OF school land and invested permanent fund
Tor the nsca1 year ending June so 1887 was S515s-
rs 81, and Tor the fiscal year ending June 80, |
1858. was $3.50. 4s0.66. The income paid to the
! State University from its Investments for the
$40 s29 e. 90 The state Normal Ssboo1 for i9s7'
S12,10O, and for 1888 S21 600. This school has an
income from unpaid balances on sales Of land In
addition TO the fund invested. To the Agricul-
tural College for 1887 Ss3, COS so, and for 1885
yS1,O1o .55. These amounts shOnld be considered
IN Inaking appropriations for these educational
SINKING FUND.
The tax levy for the sinking fund for the hnal
redemption OF State bonds has been omitted Tor
the past two years. and law authorizing the
funding OF the matured and maturing bonds
during the years 1888 and 1889, duly PISSED.
cannot understand why State like Kansas,
with assessed valuation of $685. 249, Sg2gS and
debt of only 1915. 900, falling due in different
years up 70 1889. should ma It necessary TO runo
particularly 80 when the State Ireasurers report
ahowed that on March "A, 1885. he received from
the NaIlona1 doysrnnenG,On sccoun5 OF expenses
incurred IN repell1ng invasion and suppressing
Indian hosnlltles, the sum of $685., 5U8. 49, of
WnIch undeE an e1isGlng law ne credlUed TO the
sinking fund, 1882 SO, State bonds having been
/ issued IN payment of such expenses. The bal
9nce, S4s6Uo Is was credited to the revenue fund.-
In the same report 1t is shown that in order to
provide sufficient sum 20 meet the apprOpria-
lions OF the Legislative session OF 1889 It be-
came necessary TO transfer the said 1892 500 from
the sinking to the revenue fund. This. it appears
was done py auT1or1Gy or an act OF the Leglsla-
ture passed at the special session of 1856 Thus
the full sum Of 1892 SOSlS became part Of the
revenue an amount exceeding one and One-tsnth
mills levy on all the taxable property of the
State at that time. Business saga, ty would have
tolerated an increased levy to this amount rather
than tund debt upon Waich interest must be
paid for the next twenty years. 1t ig
be revived, SO that the State may be able to meet
It's bonded obligations as they seVerally fall due.
STATE DEBT.
The State bonds outstanding at this date are
S5I3.U0O, S8I,UOO OF which nnatQred January LIST,
1889 OF this sum eS5 COO is held by the school fund
ana Sl,OOg Dy the elnklng Iund. The funding OF
1885. The next bonds that fall due are Sl2,5OO
R nag OStober i5Ihi 36g ali OF which are
1885, SS6s5O0 mature; these also held by the
sc6Oo1 fund On July 195, 1885, $4,000 fall due;
S58,Ogl OF these are held by the school fund.- and
$4,000 by individuals. On July Ist 1897 100000
| are due S95,QoO being held by the school fund,
/ and $4,000 by individuals. On July 1Bt. 1898,
/ three different issues OF bonds msture, namely:
one Of $50, 600; one of $4,000, and another of
held by the school fund, S11, 900 by the sinking
/ fund, $1,000 By the state University fund, and
balance of the State debt, except a funding bond
for $4,000 issued under the law of 1885, natures,
one Of S89, OO0Nequal to $4,000. OF these s25.-
/ GOO are held by individuals. and S1S4O00 by the
State school fund. Thus it will be seen Il at the
| actual amount necessary to be provided for (the
| same being in the hands of individuals and cor
p2rauons2 Is; on JTy 1st' 1876 SSZoOO; y3ly
! tOtsl, S256,G00; the balance being held by
/ The State debt has decreased since the date of
the Ire asurer report S12 GEO. leaving the amount
actually outstanding, as above stated, 9SO3 600.
] Ofthis, &755,COO falls due within the next ten
! years. Computing upon the present assessed
/ an annual levy of about two-tenths Of one mill
! which of course would be decreased with the in
/ crease of taxable wealth Ordinary prudence
/ would suggest a decrease in expenditures to
| small degree in some direction. rather than con-
/ tinue the payment of interest for twenty years
/ as the funding of the debt would contemplate
/ What is sound policy for, the pru-
! fnanCiering for the State of Kansas. As my pre-
| deeessor- sptly and wisely remarked in his mes
! sage to this LEGISLATURE PAY as you go." This
motto is applicable to the State as well to
| every municipality.
!
| The amount raised by taxation for State, coun-
| ty, township, and school purposes. on assessment
OF 1887, 81 4q6, 70758, namely: State, Sl274,
township, 81 245 783 o.; and school 1882 GAO 81
an average rate Der cent of So 20 upon each 500
The taxes levied for purely local purposes are
/ indeed cumbersome, and are the only ones COM
/ plalned OF, though entirely selI,lmpOsed. The
/ State levy is small compared with the amounts
! collected in defraying expenses Of various NUM-
/ cIpaiIueS. HnaL me SJaue e1acIs Is only aDO1U
| one-nlnth part OF the whole amount collected,
| the balance being for purely local purposes. For
/ the support OF county government alone the tax
IeVey Is nearly three times as much as the State
requires; while townships, cities and school die
tr1cts levy tribute with heavy hand and IN still
greater measure to defray expenses incidental to
local government, greater portion being for in
/ terest on outstanding bonded indebtedness, con-
| tracted with a reckless extravaganza in many
/ cases little dreamed Of Of De TOcQUeville, when
! beauties Of those minor municipalities as the
/ miniature republics in the new system of pOpu-
] All this criticism Of municipal government
/ and taxation must not go without important
enterprise and intelligence, if not to the prudence
/ and foresight, OF the people, who have absolute
/ The ten thousand free schools and magnificent
| school houses account for a very considerable
share of this local taxation, OF which no KansRn
! ever complains, or offers word in exclamation.
/ The nine thousand miles Of railroad in operation
in the State tell Of millions and milnO OF bonds
voted in aid of their construction. These railroads
| the Kansan regardsas an educational force, Oper-
ating parallel lines with the school house, the
/ press and the telegraph. stimulating intercourse
/ and activity in the multiplied fields Of human
/ endeavOr among people widely dispersed over
| a territory empire in extent. But our just
/ pride in this direction is tempered by glance
at our receipts for local taxes, 5emI-annual
I hinder Of that infiexib4s law OF compensation
! that runs throughout all the relations Of life,
| politics included.
MUNICIPAL INDEBTEDNESS
The subject OF municipal Indebtedness has been
/ a fruitful theme OF executive messages. For
years each Of my predecessors has warned, pro
tested and sLpOstulated IN vain. for in spite of
1t all the volume OF debt mas doubled ana tren1e1
/ swelling with each recurrence OF the frenzy IN
railroad construction until, it appears by the
Auditors repErt that on 3 uly LIST, 1887 the grand
aggreEats OF county, township. city. board Of ed