Rock Island Argus. (Rock Island, Ill.) 1893-1920, 1907-01-09

Complying with the mandate Of thu
constitution which requires the gov
error TO give the general assembly in
formation. by message, of the cOndi
ton of the state and to recommend
such measures as he shall deem
eXPedient, l have to state that the
finances of the state have never beer
in such a prosperous condition as they
are at the present time. On Jan. /
1907, the state treasurer had on hand
a cash balance OF 81 ,434, 1852 in the
general revenue fund. After deductina
outstanding warrants drawn on the
treasurer amounting to S91.429.42. the
net cash balance of the general rev
enHe fund in the state treasury OH the
first day Of this year was $4.342. 100. 20,
or 81. 2S4, 1jO.77, more than it was two
years ago.
The net cash balance in the state
treasury at the beginning of each IegiS-
iative year Jan. 1 during the last ten
years were: 1897, S1I5.4ST.O3; 1899.
S1.1S6. GO5.27: 1901. 81 $50, 272J3: 1903,
S2,S12 .315.49: 1905. 81 O57. 9g9.43.
An estimate of the cash resources Of
the state shows that there will be
5000. O57-2j. in the state treasury on
July l. 1907. TO pay the first years ap-
preparations of the present general as
scmbly.
This estimate is as follows: Balance
in state treasury. Jan. l. 1907. S4.434.-
1892: taxes. 1906. less 100000
school tax. S4.29J. SOD 90: secretary of
cot. Il
10000; Illinois Central Railroad com
pany. sfOO.OOO.OO: inheritance tax.
S3OO.ONO.OO; miscellaneous receipts.
SJJO,OOOOO: resources. estimated to
July. I. 1907. s1O.OSO.OO1.62.
Deduct liabilities: Undrawn appro-
priatiOns. January. 1907. S3.G1G. Ola %:
outstanding warrants. Jan. /. 1907.
So1.429.42; state bonded debt. Jan. I.
1907. 1T.5OO.OO-S3. 7S4 .a4431: net
balance July I, 1907. $685.. O5I.2j
On July l, 1903. the net balance i'm
the general revenue fund. after de-
Quoting Liabilities. was 5000. Go SO:
the estimated balance July l. 1907.
showing an increase over this amount
OF $3.50. 4O4.92.
This increase is accounted for by the
vetoing by me of several appropril-
lions made by the last general assem-
bly,; an increase in the assessed valu-
alton of property: the payment OF
balances Of fees into the state treasury
by several of the departments of
state, and an increase in the receipts
from the Inheritance tax. the Illinois
Central Railroad company and other
sources.
According to the last report of the
state treasurer. dated Oct. l. 1896. the
receipts for the two years ended Sept.
30. 1906. compared with the receipts
of the, preceding two years. show
total increase of $3.3S9.314Sj
On account of the increase in the
receipts Of the state treasury during
1905. the tax rate for that year was
reduced from - cents to so cents on
each 800 valuation (one-fifth actual
valueI Of property as equallzed by the
state board of equalization. a decrease
in the rate of al per cent. The
rite for the year 1906 was also fixed
at 80 cents. This rate could have been
lowered materially. had 1T not been
deemed wise to maintain the 1903
rate. I'm view OF the extraordinary out
lay Of money required by the ex-
tersive improvement of our state in
situations. 1t is believed however.
that the extensive improvements con
can be made without any
increase in the tax rate.
In addition to the net balance in
the state treasury. the various state
institutions. universities and depart
ments show balances on Jan. 1. 1897.
to $500. sos. 90. which added
to the net balance in the state treas
ury on the same date amounting to
81. 342. 1920, makes a grand total of
s.. 146, 2j6.29.
The net cash balances of these in
stitutions and departments are $780,
5O6.O9.
Three of the state institutions show
deficits on Jan. I, 1907. viz: Eastern
Hospital for the Insane. Kankakee. So
$685.; Soldiers and Sailors Home,
Quincy. SS.775.SS: State Training
School for Girls. Geneva. S1.jO9.73.
On Feb. 1. 1906. the Eastern Hos
pital for the Insane turned into the
state treasury $4,000 of its ordinary
expense fund. If this money had not
been paid into the state treasury. the
Institution would now show surplus
Of S44,31645. The deficits at the Sol
1iers' and Sailors Home, and the
State Training School for Girls. were
caused by Inadequate appropriations.
The officials OF these institutions hope
to meet these. deficits by July l, 1907,
from appropriations already made.
Interest on Public Funds,
Hon. John F. Smulski, state treas
urer-elect, requests that an appropria-
ton be made to meet the expense of
securing his bond, and also to provide
the office of state treasurer with addi- [,
tional help. He has made provision
with the banks whereby interest will
5e paid to the state upon the deposit
OF public funds. AS treasurer, he is
to give bond of S1,0O0.O00 |