The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1898-04-12

way.
The cash balance in the hands of the
State Treasurer is shown to be S93,-
9i4.41.
The statement of the educational
fund shows an excess of disbursements
over receipts of S2,OI1.9S. This condi
ton was created by the State Board
OF Education i'll apportion.ng TO the
schools the uninveSted assets If the
fund. An apportionment OF the nine
cents per capita was thought desirable
and decided upon. and TO realize a sum
sufficient TO effect such an apporton-
lGcnt. it was necessary to anticipate ::
nominal amount of the receipts from
the interest on the invested assets of
the fund, which receipts. it was judged,
would be realized before the return of
all the warrants, distributing the
amount apportioned. to the Treasury
Department for payment.
The account OF contingencies shows
an aggregate expenditures of S43. SS6.31.
more than One-fourth of which Is
chargeabfe to the month of December,
500
The Auditor. in his letter to the Gov
ernOr. suggests in this connection that
Il greater degree Of perSpiculty and con-
venience can be attained 10y the intro
ductional of additional accounts. and a
more extended classification of items
than has heretofore been observed.
The total aggregate taxable value Of
all property in the State subject To
taxation was. according to the State
Auditors report of 1896. $2o 221 90.
The total aggregate value of Sucn pro
rerty is shown, by this report. 10 be
>259.O11 Q ga net increase Of 81
~514.2SO.24. Comparative figures Of the
TWO reports are as follows:
$50. Naluc of real and
personal property......S23O. SCI. | 90
1891. Value of real and
personal propcrty.....
Decrease in value from
1896 81 .OOG 722.OG
1896. Value of railroad.
telegraph. steamboat
and canal property -. 26.516.096.99
1897. Value of railroad.
telegraph. steamboat
and canal property -. 29.137. 099.23
Increase in value over
1896 c.5S1. OO2.24
Net increase over 1896. 1.o14.2So.23
According to former reports Of TINS
department. it appears that the real and
personal property of the State has been
gradually decreasing in taxable value
for the past five years.
n" report OF 1871, covering Inc TAX
returns of 1890, shows the aggregate
taxable yalu" u r'tal and personal
property to nave been S2~42.44?,S?l
Inc current report to3') covering lhe
returns Of 1896. shows the aggregate tax
able value of the same kind of pro
Icrty 10 be S229.SJ4,4y9. The decrease
in value. therefore,. from 1891 to 1S:H;
j. Sl2,.'9o.3o2. vt the present rate OF
taxation this decrease IN the taxable
value Of real and personal property in
wolves a revenue loss TO the state fund
OF S2b,oOo. and to the publc Sch"oI
fund Of $4,000. IN ronnd numbers.
AS compared WltE the -Ahd-tof fG-
port OF 1876, covering tax returns OF
lN9o. this report. covering the tax re
turns of . shows II decrease III the
taxable value of real and personal pro
perty of Sl,Oo6, -.
The course Of d~ecllnatl"n IN TAXA
bic values, mere SHOWN. says the Aual-
tor IN ms letter, mas beeh persisted III
since 1871, notwithstanding the Well
known fact that there mas been an ap-
rreciahle augmentation of business m
VcStncnt factory building. mllniclpal
improvements, etc. There must he
causes for such conditions. and these
causes must be discovered and dealt
with before any rational effort can be
made 10 prevent Il further decline IN
values
"l'oubtIeSS that period of acute bus
ness depression known as the pane OF
OF 1915. mao lnuch TO DO WIN the
Impairment OF Vaiues' ana tle impetus
OF NAT PERIOD Is pron|pIy 1eit UP TO
fhlS tlhle III estimating the tdAaple lalhe
OF property. Whatever adverse inf1u-
ehce sach Il cause us Una! may nave on
taXapIc Values' must oralhaflIs DC sun
united 10 by a state win d h'o"'eoSe