Capital journal. (Salem, Or.) 1893-1895, 1894-01-01
STATE REVENUES
Totals Prom Assessment R0lIs
for Two Years.
gGGETTOyS OF IGYETIRT NBRlDE.
That Present Generations lie Not
Taxtd for the Future.
srGGETTOyS OF ICYETIRT KBRIDI

Prepared for the NEW YgAs's JoUE-
NAL.
Pertinent 10 the sCbject Of State
Revenues the following suggessio0s are
made 10 the annual repo, Of Fee eisry
4 state Geo. w. Mcbride for 1893:
According To the estimates Of the
.syernl Boasds Of Regents and Of trus-
,ees and officers ia charge Of our state
institutions, the cost Of buildings Dow
urgently needed for the insane, the
eonViets, the Institute for the Blind
the School for Deaf Autes, the Normal
School, the Agricultural College, and
the Reform sehool, will aggregate
about tZ75,OO While these estimates
mIzht 10 some instances be reduced
there IL evident necessity for appfoph-
atoms amounting to more than 800
900 for additional buildings for these
institutions. In addition 10 this, It is
sviden. to every one conversant with
state affairs that within four years at
furtbeat sub@taDtiaI buildings Of brick
must be provided for the insane and
ldlotic, the convlcts and the vicious
youth, who will have been committed
10 the In-aDe Asylum, the Penitentia'y,
AID the Reform School within that
ueriod. II nj that time the constroc-
ton be begun OF buildings sufficiently
large 10 provide for the probable in'
crease In the number Of occupants fJr
the ensuing four years, 1t is safe to say
that the cost OF such buildings and
Iands therefor, with good sys'
tens OF heating, lighting, water
supply, fire protection and sever
age, will approximate one million dot
lars. 10 considering legislation to pro-
vide for the public revenues, II Is i'm.
poFtAnt nov to consider whether this
enormous sum shall be made a
present burden upon our taxpayers, 81
whether at least one-half the interest
charge thereon shall be saved by nego-
tlatiug a loan on the bonds Of the state
at a low rate Of interest, such bonds h
be paid At n time when the wealth oI
the state will he W large tba; the tar
necessary 10 ralse that sum need not be
more than one-fourth the rate 1t would
be necessary to levy n the entire sum
were 70 be raised by immediate taxa.
tion.
II ls not right that the taxpayers OF
Oregon owning property assessed al
about ti5O. .0OO.O 900 should pay for build
ings 10 be used by the state when the
assessed valuation of property will have
reached, al u low estimate, a total Of Al
least 5000, 100000. Even n there were
not every reason 10 expect large ln
crease Ia the wealth u the state, Il u
unwlse 10 collect from the taKpayen
for such purposes money which cOsti
them, OF which Is worth TO them, al
least per eent ialerest while Il II pFac
tlcable for such taxpayers Ia the name
Of the state to borrow tue money AT
less than per cent. Since the year
1885 the state Of Oregon has expended
for public buildings aud lands therefor
more than tsOO.OO), Ia addition To con.
siderable sums Tor Fepalts Ia the nature
of bettsrmenlA. These buildings ar,
substantial, aud will be used by the
state for more than a quarter OF a cen
tury. We have thus no, only paid the
expenses properly chaFgeAble Ia oui
own time. but our taxpayers have been
bnrdened for the beuefit Of succted
lag generation. | respectfully suggest
an amendment 10 the state constitution
permitting the issue Of state bonds. 10
BE- sold Al not less than par, aud 90
bear a rate of Interest not exeesdlng 4
per cent, the procceds thereof To be
used only 10 pay for the construction
aud furnishing Of public buildings aud
Toe the purchase of necessary lAnds
therefor, the total Issue Of bonds not to
eKceed An amount equal 10 per
centun of the total Asaes.ed valuation
of taxable property. Whatever indi.
vldaAl Views may ~ held respecting
the wlsdor. of such policy. the sabmls-
slou Of such al amendment 20 a vote
of the people would give them aa op.
pogtonily 10 decide whether or not
they prefer 10 bear the baTden q taH.
alton for such permanent Improvements
~ 10 defer payment theFsfar untll the
taxable property Of the stats shall have
I,aas, lar..ai,, l.,s.s..aa..f