The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-11
Saving of Nearly Sf0o.0oO-Wiil He
Able tn Chop Big slice on
the state Debt.

year ACKNOWLEDGEMENTS ,650, i41.i1
This shows a considerable saving over the
appropriations of 1895. which were: For
general purposes. 81. 734. 5S5; for specific pur-
poses. 1922 1906: deficiencies. $6,l36. making
a total of s.. So. s9l.36 for the first year.
those for the second year being the same
the general appropriations for the first.
Thus i'm the period covering two years the
total savings made by this Legislature is
1925 S0S.5s. This is due in part TO the fact
that this Legislature was not required TO
appropriate for the maintenance of the
three educational institutions, which are
now taken care of by a special tax levy.
but IL is also due in part to greater econ
omy exercised in making appropriations.
The State tax levies were not changed
this year, and remain as made two years
ago. as follows:
General fund. Q cents on the 500.
benevolent institutions, cents on the
800 Co. 'e'' SHINING i"'"' ''e"'s On inc
School fund, II cents on the 800.
For higher education. % cents on the
The resources of the State from which
appropriations can be made and the State
debt paid are shown i'm the statement be-
low. These do not include the funds pro-
duced by the school fund and higher educa-
ton taxes. The statement was prepared by
the state board of tax commissioners. as
follows:
Taxable Property Shown by 1895 Dupli-
Gates
Value of lands and
improvements 1886 0S7, SS9.0 90
Value of lots and
improvements $50. $50 90i, 5000
Total value of lands, lots and
improvements .................SS3 5. 992, 449 90
value OF personal
value aii1p', of y telegraph. 'ii'0O
telephone. express
and sleeping car
Value of railroad
property ............ 1J6 469,51S00
Total. not including lands. lots
and improvements ........... $3.50. 05s. 0S2 90
Total taxable property on tax
duplicate of 1896 .......... 81, $50. O5O 53l 80
Tax Levied
According to the tax duplicates of 1895
there was levied for:
Benevolent institution
Iunu ..................... 6i2.Si4.fo
Total 80 OOS, 1866
In addition there was collected
and charged to the general fund
account on account of incorpo-
ration fees. insurance fees.
benevolent and penal nstitu-
tiohs, etc OBSERVATION-DISCLOSURES. 453,9J6. &c
Making a total of taxes and
other moneys ...-..--...........$2. 451. 092. Al
Debt Statement
There is now outstanding:
RS ornis oSp' -.-....-' $4,000 ,ss
foIeiSn ueDt ............ t,435,bl5l2
Making total debt of ........ So. $50 6I5. u
Interest on Debt Statement
~ The interest to be met by the State is:
On Domestic debt $500. $24. 10000
On foreign debt ......... POO, 225.00
Making total interest due in
year OBSERVATION-DISCLOSURES. $22i i25. %
Receipts and disbursements
For the year ending Oct. 81. 1896 the net
receipts were:
General fund ........... 81, 776.259O4
Benevolent institution
luna --................. 636,Si1O
Total receipts to both funds 81 AZ. 100. 10
The expenses of the State govern
ment, exclusive of any payment
on debt principal from the gen.
eral fund were ..................s2,14 ia. 554. as
State Debt Sinking Fund
Received from taxes .......... 1919 GO OF
Upon this showing Messrs. Smith and
Null make the following estimates of re-
ceipts. showing that during the fiscal year
beginning next November something over
SS25, 600 will be available for reduction of the
State debt:
Value Of taxables . 81 csS o5O 521 M
VIII yield to general fund .......S. $50 81 So
Benevolent institution fund 1890. $40 s74 -
State debt sinking fund ......: SO go OF
miscellaneous receipts ............. 413 900 O6
Total revenue for one year 81 SIC 791 as
Appropriations for first year 800 ? OIL 2a6 ~
Applicable to debt ........... sS25. 4e5. IL
For the second year:
Total revenues ...................S2S36 721 4S
Total appropriations ............ IT. $50 AL a.
Applicable to State debt ....sl I76 $50 or
AT this rate the State debt can be cleared
up In six or seven years. and Indiana can
start out again with clean slate