The citizen-Republican. (Scotland, Bon Homme County, S.D.) 1???-19??, 1910-09-29
TREASURER REPORTS
PRESENT CONDITION
OF STATE FINANCES
Total Indebtedness at Close OF
Business June 80 Was
So, 335,425.23.

Pierre, S. D., Sept. 24.-The annual
report OF Geo. G. Johnson, state treas
urer for the fiscal year ending June
80, 1910, has been filed with Governor
Vessey. The report discloses q balance
Of cash on hand on June 80, of $685.
669.0S. The total receipts for the year
in all funds are 81, 439, 864,63, and the
total disbursements amounted TO "a
667,182.53. The cash on hand was
somewhat lower than at the beginning
OF the year, and the receipts and dis
bursements show an increase Oh Up.
war of $4,000 00 over the previous
year. AT the close of the year there
was on deposit with authorized de-
positortes on open account subject to
check the sum OF S2S7, 269.O8 drawing
interest at the rate of 2 per cent. Ihe
deposits in demand certificates In the
various banks Of the state aggregated
1925, 800, which drew interest at the
rate of 3 per cent.
The total Indebtedness of the state
was S8,~335,425.23. OF this amount
$500, 600 was in revenue warrants which
were issued on April l. 1910, due one
year from date of issue. This amount
is drawing interest at the rate OF "A
per cent. The balance Of the indebted
ness is s336,425.23 Of registered capitol
building warrants drawing 8 per cent,
due one year from date OF issue. Since
the close of the year about $4,000 OF
these have been paid. The state gem
eral fund is indebted to the Irvine plant
fund in the sum Of $1S5,000 authorized
by chapter 251 Of the laws OF 1909.
Capitol Increases Debt.
The Indebtedness has %increas-
ed during the year due to
the construction Of the new state
house. The total amount realized from
the sale of capitol building endowment
lands during the year was s46,sSs.ss.
The debt undertaken by the state is
secured by lands worth much more
than the amount of the debt. These
are being sold from time to time, as the
occasion demands, and as the oppor-
funity for sale at prices based on the
value Of the land Increases. The
amount in the capitol building fund al
the close of the year was $9,379.6f-
The amount of money realized from
sale Of lands, accruing to the perrnan-
ent common school fund was $685.
T60.56. in ali permanent funds includ-
ing the ommon school the sun re-
ceived was $739,402.21. The interest
on common school funds was $685.
147,02. The interest on deferred pay
ments on sale of lands, and interest
- - eiiNA AotiAtSA NSNr
in all local and endowment funds of
the state institutions, to S76O,419,04.
The amount of cash on hand in the
state general fund at the close of the
year was $261,0S7.OS. The total re-
ceipts in the general fund for the year
We're $2,0S1, 2S1.56. Disbursements
reached $1,947, 777.1S.
State Tax Exceeds St,ooo,ooU.
The total receipts from the counties
for state Ike was S1,242,1 1928 5. OF
this sum the general fund received
s574, 66O.s6, aside from the transfers
made regularly from the deficiency
fund, maintenance of insane fund, and
Irvine plant fund. The amount derived
from Inheritance tax on estates settled
by probate IA $4,143.2S. Insurance
tax collections amounted to 1885, 50. 88.
The dairy fund tax on butter fat pur-
chased within the state, at the rate
of Is cents tax per 1000 pounds, has
netted in receipts the sum of 81, .02.
Considerable difficulty has been expe-
rlenced by the treasury department In
handling the telegraph, telephone,
sleeping car, and express company
taxes. Particularly in the collection
of the telephone tax. it seems that some
other system of collection should be
many sources, and could be much more
easily collected by the counties, in this
of h railroad tax. The taxes
which are delinquent can not be
reached by the treasury department,
and the collection of the telephone tax
is entirely too great an undertaking for
the telephone department of the state.
III payment were forced the expense
would overbalance the receipts. For
these reasons 1t seems advisable that
q change be made in the manner OF
collection of these four funds.