Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1900-09-19
FARMERbR)NNATSCHOOL
MILLION DOLLARS SURPLUS.
Instead of Deficit In the General Fund
of the state, the Treasurer Has
Much Cash on Hand.
Fifth Lesson.

steps to the office of the state auditor
Here you will find, father" he said
"a veritable mine of information con.
corning the financial transactions OF
our state. The records in this Office
| give more statistics showing the
growth and development of the state
and also the effects of hard times upon
our people, than any other of the state
departments. The reports of all the
collection and disbursement of state
funds are shown here. The amounts
received from the various counties In
taxes. the collections from insurance
companies and other organizations for
fees and fixed charges, and, in fact, all
the sums which come into the state
treasury and are disbursed therefrom
in payment of the expenses of the
state and of the various state institu-
tons are recorded here. This office
has also supervision in the way of in
spection over the various insurance
companies which do business in Iowa,
the state and savings banks existing
in the state and the building and loan
associations who have stockholders re-
siding in Iowa. So you see, father,
that this is one of the most important,
as well as, possibly, one of the most
complex departments of state govern
ment.
Democratic Statements Disproven.
"You will remember that a few years
ago there was good deal said by the
Democrats especially, to the effect that
large state debt had been incurred,
and along about 1895 or 1896. as l re-
member it, Cato Sells and other Demo-
cratic orators claimed that Republican
extravaganza had brought upon the
state an Indebtedness which was in
creasing rather than diminishing as
the years went by. OF course this was
all campaign talk and l have doubted
whether those who made such state
ments really believed the awful pic
lures which were drawn therefrOm.
Now l am going to ask to see the books
and make little comparison for you
of the situation at the time when our
state debt, as they termed it, was in
existence, with the present time" At
Johns request the records were pro-
duced and from them he derived the
following statement, which he handed
to Farmer Brown:
The biennial report of the state aud
itor of Iowa for the two years ending
June 80, 1897, showed at that date the
total receipts of the state treasury for
two years were $4,414, 234.25. The
biennial report for June 80, 1899, just
two years later, showed total receipts
for that period to be $5,116,07625,
showing an increase of receipts for the
latter period, as compared with the two
years ending with 1897, of SOL $40.
The receipts since June 80, 1899. show
an increase over the receipts for the
same months last year an indication
that the next biennial period will make
fully as good showing as the one
ending in June. 1899. At the end Of
the biennial period. June 30. 1897, the
amount Of cash on hand in the state
treasury belonging to the state general
fund was $36672.96, while June 30,
1899. this balance in the general fund
had grown to $445. O02.37.
Debt Paid and Big Surplus Left.
In regard to the state debt John
asked for some figures, which We're
given him as follows: On June 30, 1897,
there was a net deficit in the general
fund of the state. after deducting cash
on hand. Of $41OS27.77. Warrants out
standing which were drawing interest
represented this deficit. During the
prosperous times which have come
since 1896 that state debt has been en-
tirely wiped out, and instead of a trifie
over $4,000 cash in the treasury on
June 30, 1897, there was in the gen.
eral fund at the close of business, June
o, 1900 a cash balance i'm the treasury
of $1,013, 561.33, and on two other
dates. May and May 20, 1900, this
balance had reached the million mark,
while on no day for months past has
the balance in the treasury belonging
to the general fund fallen below $780,
600.
Farmer Brown was greatly aston
lSneu at tnlS showing. ne Telueui-
bered that his son had correctly stated
the arguments made by the Demo-
cratic speakers in 1896 and 1897, when
the charge was made that the state
debt would be increased rather than
diminished until 1t should become "An
Inheritance for our children's chill
dren." He remembered to have read
that this debt had been paid, but he
had no idea that the money for the sup
port of the state government and its
institutions had been coming in so
| freely.
"But hasn't the rate of taxation been
increased to produce this amount of
money!" he asked. mo. 1t has not
been increased" answered his son, ION
the other hand. the rate has been re-
duced. In 1896 the rate of taxation
for state purposes, which, however. did
not produce sufficient funds to prevent
the state getting debt on its hands of
nearly a half million dollars, was one
| tenth of mill higher than 1t is this
year The rate of taxation for state
revemie In 1900 Is 90 mills on the dol.
lar Of assessed valuation, while in 1896
the rate was 81 mills.
| Rate of Assessment Reduced.
4