The Kootenai herald. [volume] (Kootenai, Idaho) 1891-1904, 1897-01-09

| In accordance with established usage /
herewith submit to you a brief synopsis
of the financial condition of the state, and
such thoughts as have occurred to me re-
garding its future needs.
The first session of the Idaho legisla-
! ture provided for the issuance of bonds
to the amount of $1Os.OOO. for the purpose
of meeting and refunding the territorial
! Indebtedness.
These refunding bonds, which were is
sued in conformity with the act approved
March H. 1891, bear interest at the rate
of per cent per annum, payable semi
annually, and may be redeemed at any
! time after December l. 1900. Provision
| should be made for their retirement upon
maturity or, in any event, a special levy
should be made to meet the interest
thereon, as the act was defective in that
particular.
In addition to the refunding bonds, the
state owes the bonds issued by authority
of the act of 1882 for the purpose of con-
structing a wagon road between Mt. Ida
no and Little Salmon meadows, $4,000,
bearing interest at the rate of per cent.
payable semi-annualy.
We also owe $780, 600 i'm bonds issued I'M
der the act of 1893 for the purpose of con
structing a state wagon road. These
bonds bear per cent interest, payable
semi-annually, and may be paid at the
expiration of 10 years.
The third session Of the Idaho legisa-
ture provided for the issuance of $25 600
for the Improvement of the Idaho asylum
for the insane, without providing for
special levy to meet the interest, merely
stipulating that the interest would be paid
out of any money in the treasury not
otherwise appropriated
We also owe $4,000 of bonds issued for
the benefit of the normal schools situated
in Lewiston and Albion.
This makes a total bonded Indebtedness
of 1898 900, not a large sum, but yet ow
ing to the limited amount of taxable prop
erty in the state (S2S, 952, S33.OS), the tax
levy necessary to meet the interest there
on and provide a sinking fund, together
with the levy needed to run the state
government with it's various departments
and Institutions swells the aggregate levy
to such an amount as should make you
hesitate before providing for any further
increase in that direction.
Levy Over the Limit.
By inquiry in the state auditors office.
1 have ascertained that the estimated levy
to meet the general expense next year
will be 70 cents on each $780, Add to this
2 cents for the road bonds of 1889, cents
for the road bonds of 1898, 3 cents for the
normal school bonds, 2h cents for the
refunding bonds. 712 cents for the support
of normal schools, 214 cents for support
of university, S1a cents for improvement
of university. So cents for the improve
ment of asylum, cent for asylum bonds,
Az cents for redemption of university
warrants, and you will observe that this
runs the levy to $1.19, or 10 cents above
the constitutional limit of taxation.
This should impress upon your minds
that it is easy to provide for the issuance
of bonds and the establishment of state
institutions. but when the time comes to
meet the payments it is quite a different
matter
No item of expense incident to improve
ment of the capitol building and grounds
or of the penitentiary has been consd-
cred in this estimate. The support of the
soldiers home. the asylum and the peni-
tertiary has been counted in the first
item of 20 cents
l believe that by persistent effort on
the part of the state board sufficient tim
Der may be selected for the state during
the coming year to enable the state board
of land commissioners to effect a sale
which will practically wipe tout our bond
ed Indebtedness, and make the needed
improvements to the penitentary and in
sane asylum. But these improvements
must be made without regard to that sale,
as the conditions in BON institutions re-
quire immediate enlargement
When we take into consideration the
fact that we have been admitted only
six years last July, and that upon our be-
coming a member of the slsterhood of
states we had practically all our state
institutions to create, the people of Idaho
have reason to congratulate themselves
upon the success attained.
There remains unpaid on state institu-
tions $125,OOO, $4,000 being the bonds issued
for the construction of normal schools
$4,000 being the bonds issued for the i'm
provement of the insane asylum, and
$4,000 university warrants. The gain the
state has made, therefore, since its ad-
mission, is as follows;
Capitol building and grounds. ...... $3.50, 900
Pententiary and grounds ........ 100 900
Soldiers home and grounds ........ 10000
Asylum buildings and other i'm
provements added since our adj
mission .....-.. ...... .............. $4,000
State university and agricultural
farm lands ........ ...... ......... 10000
Normal schools ......... ........... 100000
1otal ...'.... .'....... .............. .S62O,OOO
Less owed on the same .......... 125, 900
Leaving net gain to the state of 1896. 900
The appropriation for the capitol build
ing and grounds made by the last ses-
sion of the legislature $4,000 was mad
equate to meet the expense incurred. and
was exhausted in September this year.
necessitating the issuance of deficiency
70, ,a 1ae