Evening capital news. (Boise, Idaho) 1901-1927, 1916-03-12

nce to view the land no matter now
good the mans judgment might be re-
earding lands in one locality. he cam
not possibly give the time to each aD-
piication, sufficient TO famiiiarize him-
self with all the details OF identifica-
tion OF the Land, its value. etc. except
through inquiries OF the friends and
neighbors of the applicant and some
times this Is not always the best In
formation. on the other hand. II the
county commissioners were required by
law to make the appraisement, they
would know the land is most cases
personally, besides having the benefit
of the advice OF the assessor. An
other thing, 1t is a part of their duty
each year to equalize values Of all
property and in that way they would
be more competent and familiar With
values, locations, etc. than any special
examiner Of the land board with the
limited time at his command to ex
anime EACH piece of land.
THE county attorney could be au-
thorized to pass on the abstracts and
obtain immediate corrections, thus re-
lieving the attorney general of one OF
his too many me-consuming official
duties
THE collections Of principal and in
terest are now made in the state
treasurers office. This necessitates an
endless amount of correspondence in
checking up the payment OF taxes.
water maintenance, ditch assessments,
etc, which could in the main be done
away with by having the county treas
urer make the collections. The notice
could be put on and made a part of
the tax notice and the collection could
be made at the same time the tax IS
collected and with the same receipt
at practically no additional expense.
The treasurer would have all the tax
dam at hand and II all tax collections
OF whatever kind or nature were made
in the county treasureFs office as 1t
should be. instead Of a dozen different
places. all data relating to the welfare
of the states securities would be on
file there and the states interests'
could be fully protected. In case. OF
nom payment similar procedure could
be had as with the non-p payment of
taxes and at the same time and imam
ner withfno additional cost
How the State Can Save Money.
No county would for many years
exceed 100 loans and this would be no
great burden to any set Of officials
However, to compensate the county,
the state could we'll afford to turn over
to the county, the / per cent appraise-
ment fee now charged for the expense
OF making appraisement.
I'VE can put all of our school bonds,
sale contracts and mortgages on a 6
per cent semi-annual payment basis.
8 per cent to apply as interest and the
balance would apply on the amortiza-
ton of the principal and the state
would actually save money BY so do
ing if handled by the counties as sug-
gested and the saving in the expense
Of handling would be given to the
school districts, the borrower OF state
money and the purchaser of state land.
This would put all land sales, loans and
school bonds on a s6-year basis In
other words, the purchaser or borrower
of state money, by semi annual pay
ment at the rate of per cent on the
amount of the original loan, Would
have his entire debt Of state money
disposed of In IS years. The actual
time figures fraction more than 36
years, but the extra amount is so small
that 1t could be included in the last
payment,
The following worked out on the
basis Of $1,000 loan shows the method.
Take a note dated Jan. /, 1917 for
$1,000 at per cent interest and amor
tization, payable semi annually. which
would be $50 every s months, the rate
now charged. Instead OF counting all
of this $50 as interest each time, give
fhn
terest on the new principal each time
straight through and apply the balance
of the payment TO amortizing the prin-
cipal, thus reducing the principal each
payment and also the amount of inter-
est paid out. but increasing the amount
to apply on the principal. Thus the
interest on $1,000 at per cent for six
months would be s25, which would
permit So to apply on the principal;
this leaves 1895 on which to figure the
interest for the next six months at
5 per cent, or $24.ss. and s5.12 to APP
ply on the principal This leaves
s9s9.ss on which to figure interest for
the next six months or s24.75, and 1928
to apply on the principals this leaves
$9S4.63 TO figure interest upon at 5
per cent for six months or s24.62 with |
$5.3S 10 apply on the principal, and SO
on for S6 years. when the principal is
all paid
Purely Business Proposition.
state Treasurer Eagleson here re-
produces a table illustrating how
$1,000 note dated Jan. /. 1917, with in
terest pays itself out, The large in |
terest payment and the small princi- /
pal payment fall the first year. In
each succeeding year the principal pay /
ment becomes larger and the interest
payment smaller. On Jan 1, 1884 the
interest payment is reduced from s25 TO
1871 and the principal payment in
creased from Sc to s1129 BY Jan. /,
1863, interest and principal are paid
off
Continuing Treasurer Eagleson says:
IL laws can be passed giving US
this method Of handling just the s10.-
100000 we now have to loan, it will