Evening Republican, Volume 16, Number 245, Rensselaer, Jasper County, 12 October 1912 — COL. DURBIN LOOKS INTO STATE FINANCES [ARTICLE]

COL. DURBIN LOOKS INTO STATE FINANCES

Shows What Democrats Have Done With Indiana’s Money In Last Three Years. Col. W. T. Durbin, Republican candidate for Governor, is giving the voters of Indiana some highly interesting figures and a close insight of the state treasury during the time the commondealth’s finances have been in charge of Democrats and Republicans: He~says that the state’s bonded indebtedness matures in 1915 and that the option to redeem commenced in 1910, “so we begin with 1910.” He says that in 1911 SIOO,OOO was redeemed, the state fair bonds. In 1912 $150,000 was taken up that would not have been done, hut the last legislature made it mandatory.” Decidedly pointed as to details, Col. Durbin says: “The sinking fund is a sacred fund created for the purpose of extinguishing this debt. The present Democratic administration has taken from that fund far in excess of the total bonded indebtedness of' the state and transferred it to the general fund for running expenses; $977,000, I think, taken from the sinking fund to the general fund for running expenses. That is what I call an assessment, Mr. Tax Payer, op a dividend. During my administration there was paid $486,000 in interest, or an average of $122,000 a year.

“Now, we hear much about the advance payment by county treasurers. Whenever the tax is paid into the treasury the money belongs to the state and the state has a perfect right to ask for it and receive it. In 1901 there was a call for $794,000; In 1912, $952,000. In the sinking fund from 1901 to 1904, Including 1904, there was $1,654,000 and there was taken from the general fund for the use for which the sinking fund was created, the payment of the debt, $1,148,000, which made up the $2,802,000 used to take up your bonded indebtedness. There has been altogether in that same fund in the three years of the present administration $1,077,836. There was taken SIOO,OOO to pay the state fair fund, as I told you, and we had left $977,836 that was transferred before the $150,000 was applied last July together in the fond for this. During the four years of the former administration they disbursed the sum of sl,324,500. By three years of this administration, $1,398,500, or $600,000 more ia three years than there was in four years. This is business. “Here is the item of salaries of deputies and clerks: $388,000 per year during the former administration against an average of $556,000 a year now, or SIOO,OOO more la three years thaa ia soar yean.”