The Republican journal., 1905-01-12
extgency is SO urgent that the Sta.e
should Immediately respond.

SnOulQ 1mmeOl0Lely respond.
While, therefore, it is to be assumed
that you will examine the reports Of
the Departments and Institutions, and
consistently provide for their needs and
efficiency, yet SO far as any unusual
expenditure is concerned, either for
those now in existence or for those In
contemplation, have preferred to re-
frain from making specific recon-
mendations, but urge instead that this
whole question be left for your con-
sideration, and that your decision be
made after you have heard each case
discussed upon it's merits, in accord
ance with the usual routine Of legisla-
ton. There is no end to the demands
made upon tie State treasury, but there
is an end to the ability of the treasury
to meet those demands without impos-
ing excessive burdens upon the tax
payers. l am fully aware that In many
cases involving public expenditure, the
State cannot afford to be unduly eco
nomical There are too many pressing
needs for that, and such course would
be too narrow and contrary to the spir-
it of progress and humanity. But there
is middle ground of true economy,
not readily found nor easy to stand
upon, but one which after al, should
be the goal and abiding place of finan-
cial legislation. l believe that the peo-
pie of the State will not toler tie law
ish expenditure of public fulds, and
believe as fully that even our present
splendid financial showing furnishes no
sound reason to justify an expenditure
of such character.
If appropriations are excessive, new
sources OF revenue must be found or 6
debt incurred. If the energies of leg
islature or OF tax assessors are to be
directed constantly toward seeking new
sources of revenue for the purpose OF
keeping pace with extravagant appro-
priations, 4 grave injustice may be
done to property owners. The equal
ization of values for taxation is second
in importance only to the revenue it.
self, and under the circumstances just
named the tendency will be to lose
sight of the principle of equalization
and to increase the taxes upon classes
of property peculiarly open to attack.
It is true that the present State tax OF
two and three-quarters mills is neither
large nor burdenSOme. But it is equal
ly true that if it can be reduced con-
sistently, such reduction should be eff
fected One argument against reduc-
ton Of the State tax seems to be that
at some future time it might be nee
essary to restore the old rate or even
increase it, and that the attempt to dc
this would prove to be embarrassing
to political party or to an administra-
ton But this is more an excuse than
a reason. 1t is to be assumed that il
a reduction is made, it is because it is
right and necessary to make it, and
the same as to an increase. In either
case, the legislature would give the
matter most careful consideration
and the people of the State would
surely have full knowledge Of the
facts and motives governing leg
islative action, and would render theil
judgment accordingly. The question
of changing the tax rate is purely
business one, depending for it's solu
ton upon existing conditions, and il
we are agreed upon this proposition it
is simply truism to say that the au
thority to effect the change is in your
hands and yours alone. | am of the
opinion that the revenues of the State
have grown to that point where if
prudence is observed, and yet not
parsimony, you can safely reduce the
present tax rate and at the same time
cause no unjust or unreasonable les
sening of public efficiency. | believe
too, that such action on your part
would meet with the prompt, cordial
and very general appreciation of the
people of the State
recommend. therefore, that the
State tax be reduced from two and
three-quarters mills to two and one
quarter mills. The following figures
are presented by the Treasurer OF
the State. They are presented in
this brief and concise form to show
the essential features of the financial
condition of the State,-a most graf.
flying result of the financial policy
pui sued by the last administration
and to indicate as we'll, the economic
reasons upon which is based the rec
ommendation for reduced tax rate.
Cash balance on hand January LIST,
1905, $244.S39.91; bonded debt Janu-
airy 1st, 1905, s14O3, 100000, and, in
this place, it should be stated that
during the last two years. the bonded
Indebtedness has been reduced $780,
100000. While. since 1889 and prior to
1902, $4,000 of the State bonds have
matured each year, yet, under the pro-
visions of Act of 1903. authority was
given to the Treasurer. with the ad-
vice and consent of the Governor and
Council, to purchase additional bonds,
II such course was deemed advis-
able, and all bond purchases during
the past two years in excess of the
$4,000 maturing annually for the past
three years, have been made under
this Act
The last State valuation upon which
the take rate of two and three-quarters
mills was assessed was 1852 ,228,897.
90, and yielded for two years a rev.
enue of $1,940,951.54. The present or
new State valuation is $366,514, 014.0O,
showing a gain in valuation of
$14,285,1 17.OO.
A tax rate of two and one-quarter
mills On this new valuation will yield
for two years a revenue of $685.
09136
The total receipts for the years 1903
and 1904, including $22S,1S694, the
amount received from the United
States Government, were $4,858,359.3O.
The total expenditures for the years
1903 and 1904 were $5,O52,4l
The estimated regular receipts for
1905 are $2,249,7 O7 90; the estimated
regular receipts for 1906 are $2,l16,-
100000.
The timotod rao,,lor