Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1897-01-12

own banker, the Institutions would
secure loans At less rate, tho various
land funds would derive better inter.
est rate upon una ues.ionRhlt security,
and present anomalous, unbuslness-like
aud disadvAntageOus conditions would
be done away. Whether tho suthcri-
zstion II this additional investment Of
the land funds would wholly accom-.
pliah Tho denired end Of placing the
tre8eury upon q cssh bRsis or not, L
recommend IL ae u proper thing 10 do,
on the ground that strict business
maxims shuu control the ndministra-
lion OF public finances. aud 1t IL
msnifestly foolish TO store moneys for
difficult ami perhaps remote invest
mont, when such PERFECTLY gilt edge
security No OUT own warrants may be
within our grasp The frs s ale Legis-
/ ture was CAREFUL to provide ample re-
sources to cover all liabilities. Let Us
not ADJOURN this session until, by the
adoption Of come OF these auggas ions
or such other as your unltei wisdom
may determine, the problem OF making
all State paper as good as cash shall
have been ptrmanentiy solved.
INCREASE OF REVENUES,
The Legislature at its last session
provided for the collection II fee Of
twenty-five cents per thousand on the
capital stock Of each corporation incor.
poraied after the passage OF the law,
anu the same fec for each company
filiug with the secretary OF state
amended articles iucrl asing its capital
stock. These fees have yielUe $685.
90 in nine months. Another law su-
thorizel the collection OF tax on the
gross annual premiums of foreign in.
turance companies doing business in
the State. This tax yielded sS,645.25.
Such collections are in 10 sense Dpprei-
sive, but tend to equaliss the burdens
Of taxation by requiring corporations
doing business in the State to bear 9
lust portion of the expenses OF the gov
ernment.
commend to yOnr confederation the
prophecy OF further Increasing the
revenue, by legislation that Will author
ize moderate Inheritance tax to be
paid by wealthy estates In probate. In
other elntes such tax IL pr ductive oil
much revenue, which lessons CORES.
pondingly the direct taxation. 1t seems
TO me also TO be only just, consider
ing the well established fact that u very
large proportion OF the crimes com.
mitted are the result of liquor drinking,
and that the State Ia charged with
the expense OF Grim nal prosecutions
and the maintenance Of the State
prison, that the State ought to get G
percentage OF the revenues resulting
from liquor licenses, now collected en-
tirely by cities and counties. ThiI
view receives further emphasis in the
fact that u large proportion OF the in
sane, supported wholly by the State
have their brains stolen away by rum
II this eubject is viewed in n logice
sense, or considered in the light o
precedent set by other siales. nl
adjustment Of policy TO give tn,
State its proper share OF the revenue
derived from the liquor traffic is nov
la order.
STATE BOND SALE.
The sale of 100000 OF State bonds,
drawing per cent per annum inter
est aud running twenty years, wa
effected by the State bonru o. lOsr
commissioners June let, at n premium
OF So 2l2, 80, and the proceeds paid into
the State treasury In July. Consider
ing the straineu financial condition.
and business uncertainties inciuent Il
the time generally and to the preslden'
tiai election year particularly, the sale
was an exceptionally good one. 1t II
the first sale OF per cent bomb
emansting rom this State that have
any knowledge of, and the success
nttsnuing it places oui State bonds in
the category of the best securities
fnha I'D ~ Lao IN
authority also TO reiund outstanding
per cent isBues of Territorial bonds
ami negotiations are now pending for
reiunding tue issue of $3.50, 0O0 OF 1888,
running twenty years, but optional
after ten year,. When this is done ii
will produce = saving IN interest on
this issue OF 81, 800 per snnum, and II
the board ia successful In refunding
the other two Territorial issues, a fur.
Their saving OF So, 500 per snnum.
STATE LANDS.
There were two provisions In the
act creating the State board OF land
commi sioners AMI providing for the
location and sale of State lands, which
prevented the board from making any
sales or leases during the year, aud re-.
tarded the appralsements OF land. The
frat provision referred to WAS the one
that gave settlers or occupants OF State
lands six months within which TO lie
their applications tor the preference
right to purchase the land occupied by
them. Ths board deemed 1t unsafe to
attempt to sell any lands until the set.
tiers or occupants had nled thsis Rp-
plicstions aud 1t was definitely de.
termined what Stale lands were actu
ally ssttled or occupied. The second
provision gave settlers or occupants of
State lands the preference right to
purchase lana In any sizsd tract not
exceeding 100 acres. 8 u ntil the pref
eTence srights were determined, 1t was
impracIicable TO appraise the lands for
the reason that the sppraisements
ought to be made in tracts conforming
to the settlement or occupancy, and
until the applications were made the
board could not determine how the
quarter sections would be subdivided.
The board projected with due dill.
gence ana caused to be made necessary
pIats, which were flied In the offices OF
the county treasurers OF the respective
counties. The time has now elapsed
within which the settlers OF most OF
the c1unLieg had to file their prefer
ence rights, and will s5onelapse in the
ether coun mites. The board 10 now
proceeding to hear and determine the
applications for preference rights and
causing ths appraisements to be
made as fast as possible. II ia
believed that during the spring
months ali Of the Stale laau,