Pueblo chieftain., 1921-01-08

the duty of the state to give proper
recognition to those heroes. There
fore 1 urge your approval of the re-
quests of the organized veterans inso-
far as the finances of the State will
permit Our memorial should be not
only attribute to the dead, but also a
patriotic inspiration to succeeding
generations.
Increased Revenues
A study of our system of taxation
has convinced me that if all tho prop
erty in the State subject to taxation
was actually and accurately listed it
would be possible to obtain all nee
essary revenues with little or no in
crease in tho levy. |, therefore, re-
commend that the state Tax Com
mission be given liberal appropria-
ton in order that in the future it
may prepare full and complete roll
of taxable property.
Our inheritance tax rate is far be-
low that OF other states and a revi-
, sion of the present scale which will
produce approximately % per cent in
crease is recommended. With this
amendment Colorado still would have
lower rate than any other state.
The state is in an excellent financial
condition The state treasurer reports
receipts. including transfers. of sal
24S,05S03 during the biennial period
which ended on November 30, 1920.
During the same period disbursements
totalled s2S,975, ,531.17, so that the
| assets show an increase of s2,214. .526.S5.
The total available resources in tho
hands OF the treasurer on November
30. 1920, were 1886. .33l!o5. OF this
sum s., 200, 900 was in cash and the
| balance in state warrants, state bonds,
school and municipal bonds and OBJ
NF hA tnI Ctaf n
ment.
The states bonded Indebtedness on
November 30, 1920, was 81 ,1s7 300 COM
pared with A,45l, 500 on November 30.
1918. The bonded Indebtedness was re-
duced by 1854 800 during the biennium
just ended. Interest earnings of the
state during the past two years
years amounted to 37s3 1872 while in
terest payments for tho same time
totallcd s3l5, $4,000. All state bonds are
hold by various state investment funds
with the exception of only s4lS.
The state inheritance tax department
collected tho unprecedented total of
81, ,2a4, ,3O5.st during the biennium- The
cost OF conducting this department
was only sio,s3o.76, a most excellent
showing.
Tho state Insurance department
turned into the state treasury total
of 1894. .o44.7S. collected at an expense
OF $s7,Ols. believe that attention
should be called to the fact that twics
within the past two years tho in
surancc department has ordered re-
ductions in fire insurance rates. Ef-
fective September 1. 1919. the depart
ment ordered fiat reduction of 10
per cent in premiums, saving the
property owners OF tho state SSss,oo0.
On September I. 1920, another order
was entered directing the fire insur-
ance companies to reduce their total
premiums collected by Ss25,0o0. This
order now is being carried out by tho
| companies.
Over Appropriations
When tho regular session OF tho
Twenty-second General Assembly ad-
journcd It was found that appropria-
tions had been made which exceeded
the estimated revenue by approNi-
mately S1.000,0o0. However. the fis-
cal year ending November 30, 1920.
closed with all appropriations paid
and a surplus on hand of s557. 900. 1t
may bo possible that tho revenue es-
ti-ates submitted to you in the re-
port of tho Budget and Efficiency
Commissioner for the present bienni-
UNI also are low. but this should not
be assumed as fact. The tax levy
should not be increased II 1t can be
avoided without injury to tho State
and its institutions, and appropria-
estimated revenue.
Whatever retrenchments wo find to
be necessary in other agencies of gov
ernment, we are in honor bound first
to make adequate provision for our
charitable. penal and corrective in
stitutions. Therefore. IL is urged that
the appropriations for these institu-
tions bo adequate to meet their rca-
sonable needs.
educational Need.
Tho growth of our State institu-
tons of higher learning is fully ap-
preciated by the people who voted for
an additional mill levy to be used in
their support. Funds from this source
If authorized by this General Assem-
bly, will not become available until
carly in 1922. Tho financial problem
facing these institutions, in tho period
of 1a20-ta2l demands your serious
consideration.
The General Education Board has
offered 10 assist in tho enlargement
of the School of Medicine of the Uni
versity of Colorado by making gift
of 100000. Tho sum offered. how
ever. is contingent on 100000 being
provided by tho State. Private sub
soriptions agvresatinE 100000 arc
available so that State funds to tho
amount OF 100000 are required to
accept this generous offor. II is my
suggestion that tho secosd half of the
educational mill lovy bo used for this
purpose inasmuch as there seems to he
no other proper eourco from which tho
needed funds can he obtained. Tho
first half OF the mill levy will bo suf-
ficient to relieve the other most urgent
needs of our educational institutions.
our State Fair Ia growing in popu-
larity and usefulnes. Permanent i'm
provomnnts are greatly needed and
should bo made as rapidly as finan-
oial conditions warrant.
State irstitutions
Tho condition of state institutions
Is covered In the report of tho Budget
and efficiency Conn issioner which