, 1906-12-27
REPORT.

The report of State Treasurer Irvine,
just from the press of The Republican,
is an interesting document to those
who have the welfare Of the state at
heart. Wyoming has been gaining
financial strength from year to year
and has also been paying of her debt
Mr.. Irvine says the condition of the
genera fund from time to time is a
fair indication OF the ability of the
state to meet ITS obligations for the ordi-
nary running expenses of government.
This FUND is the one from which nearly
all of the general appropriations are
paid. and as u appropriations are
made without exact knowledge at the
time of what the income in that fund
is to be, it is always a matter of some
anxiety on the part of the fiscal officers
of the state 10 determine as to the
ability of the fund to meet the obli-
cations upon 1t, At the time of the
last biennial report of this office (Sep-
TENDER 80, l906) 1t was shown that If
all warrants drawn against the gen.
eral fund had been presented n paid,
there would have been IN %overdraft
at that time Of $106.55, and there was
still three months expense to accrue
before there would be material relief.
1t is a pleasure, therefore, to compare
the condition of two years ago with
that of the present time September
balance in the fund, after allowing for
outstanding warrants, of s26,470.54, or
an Improvement over the condition OF
two years ago of $26,577.10.
Under the caption, Investments"
the treasurer directs attention to the
investment of permanent funds, as pro
vided by law. No opportunity has been
allowed to pass for securing desirable
bonds coming within the prescribed
limits of the law. Failure to secure
such has occurred only in cases where
through competitive bidding other in,
vestors have offered more than the
state. The result is that the state
now holds s217,7OS of desirable bonds
as an investment OF its permanent
funds-an increase of 6 $3.50 over the
amount held two years ago, notwith-
standing that s32,432 of the bonds held
at that time have since been paid. The
interest collected and paid into the
treasury on these investments has
amounted in the period covered by this
report to S17,724.56. The bonds now
held represent an annual income OF
$10,20S,56, being an average of about
Al per cent OF the amount invested.
The bonded debt has been reduced
500, 900 in the last five years, result
ing in reduced interest charges of So
900 per annum. The levy of 1906, al.
ready made, will raise sufficient funds
with which to cancel an additional $780,
900 of bonds on January /, 1907, thus
reducing the bonded debt to $4,000
on that date. This gradual reduction
Of the bonded debt Is being accom-
plished without hardship upon the tax
payers-the levy for this purpose be-
ing less now than ten years 6 when
the interest charge only had to be pro-
vided for. 1t is believed that no better
plan a be devised in relation to the
bonded debt of the state than to con-
hnue the payment of these bonds by
direct tax for that purpose as they
become due. In this manner the debt
will be gradually wiped out and the
taxpayers will be relieved of the in
terest charges.
The Republican is reliably inform
ed that 1t is the purpose of Mr.. Gillette,
the incoming state treasurer, to retain
the services of Mr.. Fred B. Sheldon as
deputy and Miss Crowley as stenog-
rapher. This is a source OF congratula.
ton to the people, a. they are courte-
out, competent and absolutely reliable.
wyoming's financial affairs are in
mighty good hands.
PREVENTING LAND FRAUDS.