The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1897-01-12
STATE TRRAsuRnR's REPORT

P46b0u LIS D4euuA6l report 4OC Gue PoSV
two fiscal years and has submitted it
to the Governor.
The ledger shows an accumulated
balance of SOB 74O IL to the credit of
the sinking fund. This fund is used
for redeeming old construction bonds.
During the year eleven of these old
bonds at 81, 600 each with coupons at
tached were redeemed, making the
total cost of eleven bonds $l3. 72O.
Twenty, five of these bonds are out
standing.
A section of the Code requires the
Treasurer to furnish the General As
sembly at the commencement of each
session with estimates of the expenses
of the State Government and the rates
of taxation ne cessary to pay the same
for the two years neat succeeding the
close of the last fiscal year with a
scheme in the form of a complete reve-
nues bill to sustain such estimates.
Treasurer Worth, in making the es
Inmates, in only two instances recon-
mended an increased appropriation.
One was to the State Normal and In.
dustrial School for girls. The appTo-
priation to the Normal last year was
$17 500, and the Treasurer recommends
that it be increased to $50, 900, the
same that is given the University He
cuts out the $500 appropriation to the
Guilford Battle Ground. The Treas
urer estimates the cost of the judiciary
to be $50, 900, while last year it was
SCI, 735 Sc; rewards for fugitives of
Justices $4,000 over 81, 507 O9 last
year; State hospital $4,000 over $780,
600 last year Eastern b spital &35, COO
over $47. 500 last year; North Carolina
Insane Asylum $50, 600 over sos. 235 60
last year; pensions sos, 900 over $780,.
81 last year; State Guard Sc 600 over
1911 SO last year; State LIBRARY $500
over 81, 6O9 "a. An estimate OF $40, 600
per year is made for the p~enitentlary.
The p~enitentiary took $50, 600 of it's ap
preparation in '95 and SIS, 600 in go.
The loss Of much grain by the r )anoke
freshets will require more than normal
appropriation next year.
Treasurer Worth estimates the ex-
penses of the State for the next two
years, 1921, $50 per year. The expen-
ditures for the two years are far in ex-
cess of this. He says the above esTi-
mates, will, in his Judgment, cover the
needs Of the OF cts named.
In his report the Treasurer suggests
that in view of the increased tendency
on the part of the county and State
officers to make their bonds with bond
Ing and trust companies, those doing
business in the State should be re
CURED 10 deposit good collateral with
the State Treasurer and also relir quish
their right of appeal from the decisions
Of our State courts to the Federal
court.
Under the subdivision of banks the
Treasurer reports that they SEEM to be
In a sound and prosperous Con iClon.
He ADDS: There might be some ed
ditlonal protection thrown around the
deposiEors without doing any injustice
to the banks.
In commenting On the management
of the penItentiary, Mr.. Worth says:
II think the management OF the penI
Tertiary has been very good"
The report comments on the fact
that the aggre gate valuation Of ali tax
able property SHOWS a falling off OF
nearly five and a half millions. The
tax rate" the report says will be de
pendent upon the amount Of apprOprl-
ations made by the legislature. The
present valuation at 25 cents for the
State will yield $643 593 OF; 3 cents for
pensions, SIT 231 16; and eighteen cents
for schools, $463 1856 90.
Under the act to compromise com
mute and settle the State debt" So. $50,
700 of four per cent. bonds have been
issued in exchange for the old valid
debt of the State. IG would require
1856, O7O more of four per cent. bonds
TO take up the remainder of the OLD
bonds outstanding.
The receipts from the oyster industry
have been IS, $50 81 and the dlsburse
ments S., O6O 81. The Treasurer say
in commenting upon this: There
seems to be a lack or thorough under
standing of this whole subject on the
part OF our law makers. While the
oyster industry should be, under
proper laws and their proper execu
ton, a source of considerable revenue
to the State. The effect of all the laws