Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1907-07-25
OUR STATES FINE FINANCIAL SIT.
UATUON

our STATES FINE FINANCIAL SIT
UATION.
We publisher elsewhere figures of
State Treasurer Deavtts report and Of
the supplementary report of former state
Treasurer Bacon. showing the finances
of the State to be in an excellent condi-
summary IN figures docs not tell the
whole story OF the finances OF State.
any more than Of a corporation or an
individual. An analysis of figures and
conditions usually helps to a fuller under
standing Of the situation.
In the first place 1t Is to be noted that
ton with our State finances has been
brought about without direct taxation Of
the people. The last direct tax imposed
in Vermont was In 1900, the proceeds real-
ICED thercfrom having been practically
s275,oco The total Income derived by the
State treasury from the corporation taxes,
that year was in round numbers SsSl ,625,
so that our total revenue was $l,i5G62o,
The income from the corporation taxes,
indirect taxation, and other sources OF
revenue will be such this year that our
commonwealth will not only pay it's run
ming expenses, but also the extraordinary
nv a.
This result has been made possible
through the marked increase in receipts
from corporation and inheritance taxes,
and the manner in which this income has
increased will appear from the following
schedule, the figures being for the nnan-
cial year ending June 80 in eac' instance:
1906. 1901.
Corporation .......... 1878, $500 $1l3, $50. Il
Collateral inheritance
tax .''.......,........ 40,5S1.1i 52,4l2. IS
Total ..........,..... s71i, 461.2i S7OG, oiS. s.
Gain over last year s5l ,S07. II
For the year ending June 30, 1900 the
receipts from these sources were as fol-
lows:
Corporation .................,......Si 39 957. As
Collateral Inheritance tax........ 1897 -
Total ACKNOWLEDGEMENTS. .s4G6, 2S5 d
Total taxes collected through
tax department, 1907..............s7 $685. 26S IS
Total taxes collected through
tax department 1900 .............. 40. 2S5 Of
'Ialn in seven years ...,,........... $2'9 ~3 "A
1t is estimated that the amo unit to be
collected for the ensuing year ending June
80, 1908. will exceed ssSO,Cco or in other
words this sum viii eqtr the amount re-
ceived from like take. for both the ye $
ending June 30, 1899 and 1900 which was
sSSl go SC. This sum in addition TO other
income and the S4S4, CSO.9S cash on hand
in the State treasury and in banks on
July last available for the new fiscal year
Will leave the State in good condition al
the end of the present administration
In addition TO the payment OF thi.
, years share Of the expenses for the bien.
| NAL period a long lis: of extraordinary
| expenditures at least i'll part. must be
lowing: The payment toward Morrl
hall, which was authorized by tho preced
ing Legislature. will he s37 COO in rount
numbers. The new school appropriation
providing for centralized district supcrin
tendenCe and inspection and school an,
| other improvements aggregate about so.
600 and the appropriation for improve,
highways is 5000 The appropriation 70
the adjustment OF li.hway grade cross
ings on railroads is S25,On, and that 70
the jamestown exposition $1,000. The re
pairs and improvements ordered at tn
States prison will cost nearly $4,000, Tn
increase in revenue has been SUCH how
ever. that there will be "A falling off o
only about $4,000 in the treasury az com
pared with the amount on hand at the be
ginning of the year, although the incom
from the sale of cattle will show di
minution of $4,000 as compared with las
year.
This handsome showing as to revenu
speaks we'll for the manner in whic
State Commissioner of Taxes j. f. Cush
man has administered his office as we
as for the tax legislation which he wa
so largely instrumental In formulating
The expenditure of the proceeds Of taxa
ton is another matter. and it is we
known fact that Governor Proctor Is gil
ing this close attention, insisting tha
every avenue of expenditure shall /
closely watched and all leaks stopped.