The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-01-04
Discussion
of the
State Funds.


the law provides annually two cents
on every hundred dollars of value of
property in the State. This is a fixed
charge and continuing" appropria-
stion.
2. The interest and sinking fund. which
provides Sal ,435 annually for interest on
certain bonds of 1873, held by the State
Treasury in trust for the State school
fund and university fund, and for inter-
est on moneys belonging to the endow-
ment fund of the university. The amount
law.
3. The State school fund. This is the
fund from which the States portion of
the expenses of our common schools are
apportioned.
4. The general fund This is the fund
from which the ordinary expenses of the
State government other than for school
The only three of these funds which
are:
o / The interest and sinking fund
2. The school fund.
3. The general fund
The first OF these (the interest and sink
ing fund.- has but one source of revenue
taxes. The second (the school fund.- has
several minor sources of revenue brt
the principal one is the ad valorem tax
on real and personal property. The
amount to be raised for this School
fund does not depend upon the action
OF the Legislature nor of the Governor.
Tor Il is hXed on the basis of each census
D a
expenditure is in no manner controlled
by either the Legislature or Governor
nor 90 It's accounts pass the scrutiny OF
the State Board of Examiners. It is an
portioned by the Superintendent and
paid out upon the Controllers warrants''
The third fund Cthe general fund) is
made up principally from a tax on real
ana personal property, fixed by the tax
levy law at each session of the IegisIa-
ture. 1t Is the fund from which appro-
priauons, claims against the State and
ordinary expenses are usually paid. The
amount included in the tax levy bill for
THIS fund determines whether we will
nave hlSh or low taxes. All the others
the interest the university and school
funds-are fixed by existing laws and de-
termined by established conditions.
1t is the theory of the Government that
the amounts included in the tax levy bill
for that fund shall be sufficient with
moneys on hand to pay off all appropria-
tons made during the session
Whether or not the amount of the We
toed items or bills be included in the tax
levy bill the veto itself is saving to the
people. for but for it the amounts vetoed
must be paid
AS its name indicates, the general fund
is the all important one. This has been
recognized by Governors, by Treasurers
and by Controllers, and the condition Of
this fund has excited their utmost care
and solicitude, because when ii is ex-
hausted the credit OF the State is i'm
paired and claims against il go unpaid
To maintain this fund. to pay the credit
ors of the State as their debts accrue
and to prevent the hawking of the Con-
troller's warrants on the street are things
most desirable. Yet so careless has the
State been in the past. so intent it's Off
Gals In straining every energy to gain
what is called low tax rate Ga thing of
no particular significance. unless related
to a fixed valuation of property as will
be shown hereafter), that the State has
year by. year, willfully permitted the
general fund to become exhausted, and its
creditors-the merchants and mechanics,