The Providence news. (Providence [R.I.]) 1891-1906, 1895-01-29
STATE OF RHODE ISLAND,


January 20, 1895.
40 the Honorable General Assembly:
Our state has experienced during the past
gear a season Of tranquility. IL not Of marked
material progress We have felt the influence
of the shadow that has rested upon our I'm.
mon country, but have been preserved from
violent manifestations OF popular unrest and
severe financial disturbance. Public improve
ments arr being steadily promoted, the State
treasury Is In satisfactory condition, and the
several departments are discharging their
duties with economy and fidelity. Our happy
deliverance from much that has troubled other
communities is matter for congratulation
end should increase our confidence in the
future of the State, it, Industrial interests and
its long established institutions.
Finances.
Tundcd debt Jan. l, 1894. ............ $4,000 %
Amount of debt paid since Jan. /,
lov4............. ................... 6o2COJ W
Amount of bonds outstanding no.
presented for payment. .... $1,000 GO
Amount OF cash on deposit to pay
said bonds. Observation-Disclosures. 28,(Bj 90
Excess of sinking fund. ............. Nld3j07
STATE HousE CONSTRUCTION LOAN BONDS.
Amount OF bonds. 81 10000 90
received for interest...... 1880 90
received for rents on con-
demncd land and houses. ....... 1859 OF
sl,5i4ol9 II
Amount OF sundry payments 20
State House Commission sl7,770 p
Halancs to State House construction
loan account. 81 ,f97, ,l79 a
STATE HOUSE CONSTRUCTION LOAN SINKING
FUND ACCOUNT.
To amonnt received from premiums
ON bonds s.............. ...-....... $sS,20) %
TO amount received from interest
on investments. nts..,............... 2,2i0 0)
soO,4lOo
CURRENT EXPENDITURES AND RECEIPTS
Receipts during the year 1874 ,.... 81 BATE II
Expenditures during the year 1894. l,3)o,7l5 q
Excess OF receipts over expenditure soa,0li Al
Balance in Treasury Jan. /, 1884,. lo4,s4Sl
Balance in Treasury JAN I, 1sQ5... S.22,sO7d
The above figures show the balance n IL ap
pears according to the Auditors books. But
he has included IN the years expenditure slT,
1923 spent upon the CONSTRUCTION Of the new
State House, which IS properly char geable &c
ths sptcal lean for that purpose The actual
excess OF currcnt receipts over current ex.
pcnditurss Is therefore 40. and the bal.
ance in the treasury Is increased 90 a CORE
spending extent. The old war debt is car
called and there Is balance in It's SINKING
fund OF sll 08j OF, which viii probably lie Trans
ferroi TO the sinking fund OF the Stat, House
construction loan. TO the credit fund OF ha,
loan there Is now s9O,<4)0) rtosived from pre-.
mirms on bonds aud iIitsrest On investment,
ami the General Treasurer has Established a
sinking fund and apportioned thereto am an.
nun1 sum OF 5000.
There Is open for your consideration qucs.
tion upon which your predecess r. have nesi.
tated 20 talk any pronounced action. alluds
70 the complicated and evcr-prcsent problem
involved In the reconstruction OF our laws ~.
iating 10 taxation. At the January se8 son
1892 a State BoaFd OF Valuation reported upon
our methods Of taxation new sources OF rcvo.
nue, and needed changes m the { lx laws. Rec.
concentrations then presented were tho result
Of an exhaustive Investigation by compct nj
persons in every section OF the state, ard thoy
ere "a pertinent at this time ns when they
were hrst reported. They cmbody changes in
the line Of.
l. The appointment Of n rmancnt board
OF State assessors who shall frequently reyalnc
the towns and cities. and who shall nsss.s ard
collect the taxes due from railroad. telegraph
telephone. express and banking corporatl0r
2. A clearer definition OF the several kird. oi
T personal prtperty linble 10 be- taxed ana q
more equitable method Of assessment
Auniform tenure OF Office for local board,
of assessors.
4 A direct or collateral Inheritance tax.
Reasons FOR these changrs are furnished !,
the report 20 which I have alluded. and feel
that they deserve your attention AZ this ss-s
sion. The reasons may b. briefly set forth A.
l. The equity of a more frequent valuation
for the purpose of State revenue. and the need
eta constant supervision u the TAXATION OF
corporations.
. Tho smbisuity snd incompIstsssss 4