The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-01-16

sssts and receipts relatively exceed
those ~ ki1e state
TENDENCY TOWARD EXCESSIVE
APPROPRIATIONS
u q mt within the range Of hunsan
hwpnfrtIx 20 estimate accurately the
eexesss.z and dtsbursefnessts Tor the rs
81 term succeessng a Legislative ses-
16au because Of the variance between
ssr~ restraining IDEAS of auditing ON
cerx. n4ao are naturally on the side OF
..s-,x.~f.v. ard the 3ayish irnpusses OF the
laexsaafs1re. wFsses il influenced b. ecHi-
1,.nstssszs OF heal interests and fnclanes
=, an ,sxcess ef confidence IN the pubic
r.~r1rczs. Another potent factor IN
rendering estimates nugatory Is the
ssa.anxeab,essexs Of values ard the ufs-
rx>xs aarfses Of tax csiiectIons Under al
ferirx commercial and fndussrsaA con-
6sffos1s. When the third Washington
legislature convened. confidence In the
capacity of the state 20 redeem its war
rant debt speedily was Epquesfiofseo.
II was estimated that at the beginning
slst. fiscal term Of the present year
the treasury would contain cash pas-
ance OF sz27, sss.s5- On the contrary.
when March 31nt comes around. the
shortage. exclusive Of bond and snier-
eat debt. VIII run over three-quarters OK
4 mSIlibr.
The receipts at the opening OF the rs
cal term beginning March 81. 1888. e.
4snafed AZ sss5. 500, were In reality ssS!f
se2. -. q discrepancy OF $2ss .2ss.5f. In
\
dItures amounting 20 N,44o.4s4-fa. Inc
legislature appropriated. 10, addition 70
$3Ds. 1901 deficiency appropriations. the
sum of $2.fzf,7zz.sl for the fiscal term
now drawing 10 clsSe OF this amount
items aggregating xf7s.ss0 were vetoed
ii will b. seen that the appropriation
less the vetoed SUITES. Is this instance
exceeded the estimated needs more than
half a million dollars.
The present legislature should close
~ scrtltinixe all appropriation acts ard
defend the taxpayers from q repetitson
of such folly.
III should be borne in mind In proyid-
Ing for the forthcoming fiscal term.
that only one-fourth OF the state tax
for 1895 had fo.ssd it, way 20 the treas
ury March 3l.aislfsugh the estimated coli
ieellnn was IS per cert. In View OK all
the circumstances, 1t Is extremely
doubtful whether the estimated collec-
tons of delinquent tax and OF the levy
far 1884 applicable TO the fiscal term be-
ginning next March. will fruotlfy.
The outstanding Indebtedness and
prosss4~c;iye receipts should suggest the
limitations within which appropriations
are 10 he made for the fiscal term Of
1887. Two methods have been resort
ed 10 In order 10 estimate az precisely
as possible the revenues To be relied up
on. One was 10 csrnpute the receipts
fbr 1867 ON the bassiS of the percentage
Of loss from the estimated revenue coll
tealions OF the chasing quarter In the
issi-3 tefsp taudlss.s's report and the
first half Of the 1915 term The other
was to compile che actual receipts
beswecn October 81, 1see. and October
81, 1894. compare them with the audit
ed estimated receipts less the proper
tion OF IL i-2 per cent. fog collections
coming within the closing quarter OF
the regular fiscal term and the levy
available January /. 1896. besides). and
with this practical footing. measure the
revenue. at a levy uf mills. for the two
years ending October 81. 1896 The lat
ter estimate was si.47o.0oo. the former
$4,000 additional Therefore. with pres
ent valuations prevailing. the state tax
levy Increased one~half mill and the rs.-
Ito OF collection remaining unchanged.
the receipts for the period designated
should be 81 500. 900.
With the exception OF appropriations
unexpendesi October 81. 1895. roughly
estimate at ssoo.0o0. the final liabilities
for 1857 fiscal term would be def
ciencles and legislative expenses for
1897. For the purpose OF careful esti-
NATION az tn positive resources the last
nauesf expenditures may be excluded
as factors. protected as they fairly viii
be by the levy for 1895 and the collect
ihie dennquencies available In January,
1851 How far below this 81 500. 900 ilrni-
tation OF ressipts for the next fiscal
term the appropriations are - be kept.
should be determined by consideration
cf the outstanding Indebtedness.
APPROXIMATE INDEBTEDNESS
OCTOBER II. 1894
Omission OF interest account from the
estimates and status OF the public debt
IL a frequent oversight OF computation.
In departing frun the customary meth
DDS Of analysis and review. the pur-
pose viii he 10 impress upon your hon.
cradle belly the fnsidious nature Of a
fiscal policy which as not devised on
sound business principles. Approx
nateiy. the state WAS obligated on oc-
tober 81 1884 as follows:
Outstanding warrants. general
-
Estimated interest. ..,.......... - &c 81
fund observation-disclosures. ss,iss 81
Estimated tnferest.......4...... $50 ca
fs.sa 1850 os
Estimated interest ............. 90 90
rants AMI cerssfIra;es. '....... 1855 IS
fsst5nfated interest,". ...s...s...s. G, Saa %
Deficiencies covered by cert8ii-
Gates issued n OLD form, with
out provision for ietsrsss..s.. scoss 81
Defiesenses covered ny csrt4fi-
Gates in new form. ...s....sss.s. SEsase "a
Estimated interest. seS 50
Aggregate current indebted
ness s.<...<s.ss.ss..s.. =. 81. M -
Tanstesf indebtedness .........s... Sa1esD ca
Interest since April PAYMENT, s..sS ~
Total dcsss. 81. ssss SO So
ESTIMATED INDEBTEDNESS.
MARCH 81, 1886
Including intersss account. the state
debt ea March 81. 1895. will be closely
represented by tbs following: