Semi-weekly herald., 1916-01-11

OF the matters OF Importance Sug-
gested by the experience of the last
two years. Previous legislation had
added hundreds of thousands of dol
lars to the fixed charges of the state
without providing adequate revenues
to meet them. By curtailing some
OF the departments through strict
economy because of greater efficiency
secured by placing the several bureaus
under civil service. public expendi-
lures were reduced, appropriations
were kept down and were still further
reduced more than six hundred thou
sands dollars by executive vetoes.
The aggregate of APP
preparations for the
period of 1913-1914
was ..------.-,................,...$ ,169, 1929
This amount was re-
duced in uneXpended
balances and reduc-
tions by auditor 17O,674.4l
Leaving the net nppro-
priations for the period 2,99S, ,G2S, AS
The total receipts for the
period, including esti-
mates where cash had
not yet been received,
amounted to...,,......-..... a,o35, ,356.s1
Leaving surplus ac-
cording to the auditors
report, of -......,................ 36,72s.32
AT the beginning of my term the
nnkneral tax situation was in chaotic
|pdition and circumstances rendered
Imperative that assessments be
made according to law on full cash
basis. Previously property had been
assessed on one-third of its value. To
provide against undue increase in tax
es the general assembly provided by
: law for decrease of levies propor-
tionate to the increase in valuations,
allowing, however, small percentage
growth and emergencies. Under the
constitutional provision and it's inter-
probation by the courts equalization of
valuations was practically impossible.
To correct this defect and perfect the
present system constitutional amend
ment was submitted and voted on by
the people, requiring values to be
equalized on full cash basis and to
secure that end to increase or lower
any county assessment or to change
any items to their just figure without
affecting other property or counties.
For the first time in the history of
tn state we are upon practical,
sensible basis of property taxation
with centralized body of state Off
cials fully empowered to correct err
rors wherever found and enfore
equality of state taxes.
The credit of the state is excellent:
levy of less than three mills on
he present valuation would pay off
every dollar of bonded indebtedness.
Even at time of great financial
stringency, the state was able, until
intcrfered with by some of its own
officials, to place four per cent. cer-
tifieates at par for the purpose of
suppressing insurrection.
The nationwide depression in bust
ness and the discouraging effects of
the industrial conflict just closed make
it necessary to keep public expendi-
lures at the lowest point consistent
with efficient service, and appropria-
tions should be kept down according
ly.
The report of the bank commission
er lends much encouragement to the
hope Of better business conditions in
the future. Notwithstanding the gen,
eral adverse financial conditions over
the country, the resources of Colorado
banks have practically held their own
during the past year while the state
crease.
Highways.
During the past two years a COM
prahensive highway system has been
established. The framework of pri-
mary roads connecting all parts of
the state has been laid out and more
than twenty-six hundred miles of !
highway built or rebuilt in substan-
tiaI manner. At the recent election
1 permanent annual levy was author
zed for the support Of this depart
nent. As this fund will not be avail
,bIe until the taxes are collected in
!916, 1t is necessary to make provis-
on for the present year. Estimated I
eceipts for 1915 are $4,000, where ,