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

The CURRENT resources aud liabilities
sie as followt:
RESOURCES.
Due from counties on tax account 1919 6i7 rs
Cash in the treasury January /, 1897. lhsl3 90
S3gi,l7l Al
LIABII TIES.
Warrants outstanding Jan. J, 1897 SiCa $40 %
Unpaid jurors and witness fees for
1890 (estimatedl ......... ...... ...... 5000 90
one half salaries of county officers
for the fourth quarter OF 1885 fes-
tuattul ........,... o.. ........-. aOOu W
Bounties on wild animals ........... LOO 90
Estimated deductions on taaos...... ilOg4 90
Estimated amount held bGcs on ac-
count tax sales for 1896 -....-..... 1891 20
Apportionmeut OF taxes due from -,
counties TO school fund .......... l0i,sGI 81
Excess OF "j,SsO -
~ Al
That is to cay, when all the revenue
RESOURCES are available and all the cur
rent Indebtedness extinguished, there
will yet remain balance in the treas
ury of S9O,3s6.2s. This extremely
gratifying showing may be largely
accounted for in the excess over last
years. calculations of revenue from
fees in the office OF secretary OF
state, paid l0y corporations and
insurance companies, anu in the fact
that soms OF the large appropriations,
notably for the courts, the State boart
OF land comm ssioners, and for extern
sion OF surveys, have only sbeen
measurably drawn upon. IL ordering
these balances and all otner unused
balances covered Into the general
fund, which l recommend rs the
correct course to pursue, care should
DO exercised TO provide for all obliga.
tons incurred during the year for
which the appropriation was made.
II 1t should be corrobOratei, by later
investigation, that these figures are
accurate, wise financial policy
would direct, in view OF general
depressed conditions, that the tax
payers he relieved ota portion OF their
burdens by decrease in the rate OF
taxation. Considering in this conneo-
tion, the funds that Will arise from
sale Of lands during the years 1896 anu
1897, the interest OF which will be
available for the support OF the schools
and STATE institutions, AMI which will,
in all probability, amount to con.
siderable sum, reduction OF Que mill,
at least, in The taxes, may, L Thu k, ibe
counted upOu with reasonable safety.
Such "A contamination in the second
year OF cur Statehood would, perhaps,
he unpreced ented, but L am sure 1t
would be hailed with acclamations OF
rejoicing by the Taxpayers.
CASH BASIS,
While il Is apparent that the rsve.
nues OF the Stale from all sources W III
bs sufficient, whom fully col.
Il ).
and leave surplus on hand, the fact
remains that the treasury lie not yet on
cash basie. 1t 10 my earnest hope
that measures may be adopted by you
that will accomplish this end and
make the State warrants good tor cash,
no matter at what time of year they
may be presented. The present diff.
Guilty is easily explained. Expend,.
lures ore necessary at the beginning Of
tho year anu during the year,
ami warrants are Issued there
for under the law. These are presented
to the State treasurer, and II he have
no cash in the treasury, applicable TO
their payment, the warrants are regis
tered anu marked mot paid for want
OF iunds,D and must then be- hawked
about for perhaps ten or twelve
months before the taxes provide suffi.
Client funds in the treasury TO redeem
them. Such procedure necessitateH
conducting tho various State institu.
tons largely upon credit, and works n
hardship also upon all hoiuerB OF State
warrants. Tho warrants are discount.
ed at excessive rates or, in case OF
State Institutions, pledged to the vari-
Qua banks Us collateral security, and
loans made thereon, bearing interest,
usually at not less tnan eight per cent
per anuuin, anu the result Is a surpriE.
Ing loss to the State, the aggregate
Hmount 30 paid In interest last year
having been 50. 62S.12. La word, we
spend our money before wo get 1t. 1t
may be possible, when present finan-
cial adjustments are completed, that
this disEdvantageuus condition will DO
materially Improved, but u permanent
remedy should be found ana enforced
Immediately. To this end the follow
ing suggesti0ns are submitted: A bolI-
iul expedient would be to authorize
the collection OF taxes in semi-annual
stalm ents, the fret half payable in
May and the second half in November,
with the added privilege, perhaps, to
the taxpayers OF obtaining a small dis.
count Tor full settlement before the
uhto VI uchA dAohpJ' AZ pub uuCu u
plan into execution would neceseitate
changes in the revenue law that would
provide for sssesen OF property ear
lisr In the year anu that would hasten
completion OF the assessment role, but
the results could not be- otherwise than
to provide revenue more nearly the
time when 1t 10 needed, and thus &C.
complish, at least approximately, the
object sought. Another meritorious
plan which, IN my judgment, would
mitigate and, perhaps, correct the ex-
istiug evil, would be TO authorizes the
State board OF land commissioner to
invest the proceeds arising from sale
OF lands in loans secured by State
warrants. at say seven per cent per
annum interest. The law now In
force authorizes the investment OF
these lunds IN state, county, munich
pal or school district bonds, or in first
mortgage loans on farming lands at
seven per cent. Opportunities Tor the
proper investment Of these funds in
any OF these securities will not be
found adequate, and ut Will be devel-
npsd that ,nnnuvs bploDgiug to tho