Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1899-01-18
Territorial Treasurer's Report.

Thu report of Territorial Treasurer
Eldodt. including the business transac-
tons of his office from November 80,
1896, to December 3, 1898, has been made
to Governor Otero, and it makes an in
tereSting statement of the fnanclal
condition of the territory.
The report shows that the total re-
ceipts of the territory for the w years,
from all sources, We're 1896, 196. 10; the
expenditures $3.50, 449.41, leaving a bal
ance on hand December 3, 1898, of $685.
747. 20. But in this connection Treasurer
Eldodt makes an explanation, in which
he calls attention to the fact that it is
necessary to provide additional funds
for the interest fund, which is now in
arrears to the extent of $40, 900, and that
mount will be increased at the close of
the present fiscal year, March /, 1899, to
So, 600. as shown by the following sum-
mary:
Treasurer's notes outstanding, given
for loans to complete the payment
Interest due up to date of this report 1874 90
Interest due January /. 1899. ......... 1888 90
Interest due March l, 1899. ............ l9,4W w
Total arrearage to close of fiscal
year,. ..... 800. .Soo'1fo w
About $25, 900 of this arrearage
existed two years ago, and the at
tention of the last legislature was call
ed to the necessity of making some pro-
vision for it's payment, but no action
was taken. The remainder of the ar
rearage has arisen during the past two
years, from the failure of the cash re-
ceipts from taxation to equal the APP
preparations. Interest coupons have
beer paid promptly, but in order to do
so the treasurer has been compelled to
borrow funds under the provisions of
section 2607 of the Compiled Laws. To
ing out the deficit in the interest FUND
it will require about a 9-mills levy, and
as taxation is already heavy, the treas
urer hat a short-time bond is
sue be authorized for that purpose.
Two tables in the report are worthy
of deep study by tax payers and others,
since they show that taxes are not paid
as they should be. The first of these
tables which is for 1896, shows that the
assessed valuation Of the taxable prop
erty in the territory is $50, S91, 102.4S;
that at the rate of taxation, IT'S mills
the revenue for the territory should
have amounted to $685., 906. 04, but the
actual amount of cash received was
$1S6, 1851, or 65 per cent of the taxes
levied. The second table, hat for 1897,
shows that the assessed value of the
taxable property of the territory in that
year was $39, AIS, 119.1S; the rate of taxa
ton, 1880 mills, should have produced
to 1926, 1858 IS, but the actual amount of
cash received was 1925, $40. 25, Or 80 per
cen of the amount actually due the ter
ritory. Is there any wonder that there
is a deficit in the territorial treasury?
The appropriations made by the leg
islature for 1897 We're 500, $50. 90; the
distribution of cash on those appropria-
tons was IS per cent, or $136, 81, 20; the
appropriations for 1898 amounted to
$780,, $50, and the distribution of cash
was II per cent, Or $13S, 37O.17.
The cash balances on deposit amount
to SIS, 255.06 distributed among ten diff
ferent banks, and the amount of inter
est received by reason of such deposits
is S. S2.12.
The report also shows that % insur-
ance companies have complied with the
law passed by the 32d Legislative as
sembly, requiring a deposit of SO, 900
with the territorial treasurer, and that
u out of the % companies deposited ter
ritorial bonds of different kinds, maxi
ing a market for $12O, 900 worth of
bonds.
The report also shows hat the bonded
Indebtedness of the territory is 81, 066,-
800. a small amount when compared
with the wealth of the territory, and
could the taxes be collected as they
should be, it would not be long before a
sinking fund of sufficient amount to pay
off the different issues, when they fall
due, would be on hand.
The report is filled with carefully pre-
pared tables and data, and speaks vol
umes for the management of the office
by Mr.. Eldodt and his efficient clerk.
Mr.. Celestino Ortiz.