OHIO. 



615 



Chicago Women's Home. In 1854 and 1855 

 he visited Europe, and his examination of the 

 canals of Holland suggested to him the practi- 

 cability of the Sturgeon Bay & Lake Michigan 

 Ship Canal. He devised a plan for an under- 

 gound railroad in New York City, in connection 

 with the question of rapid transit. Since 1866 

 he has resided in New York City. 



OHIO. The financial condition of the State 

 at the end of the fiscal year 1877 was as fol- 

 lows: 



On the 15th of November, 1876, the ftinded debt 

 of the State was $6,484,505 80 



The redemptions daring the year were : Loan 

 of!875 5,000 00 



Balance outstanding November 15, 1877 $6,479,505 80 



The funded debt is divided as follows : 



FOREIGN DEBT, PAYABLE AT NEW YORK. 



$2,500 03 



Loan payable July 1, 1868, not bearing in- 

 terest 



Loan payable after December 81, 1875, not 

 bearing interest 2,700 00 



Loan payable after June 80, 1881, six per cent, 

 interest 4,072,64030 



Loan payable after December 81, 1881, six per 

 cent, interest 2,400,000 00 



Total foreign debt $6,4T7,840 80 



DOMESTIC DEBT, PAYABLE AT COLUMBUS. 



Carnal loan, not bearing interest $1,665 00 



Total funded debt $6,479,505 80 



The local indebtedness of the State, on the 

 first day of September, 1877, was as fol- 

 lows : 



Net debt of counties $2,909,462 27 



Net debt of townships, including debts created 

 by boards of education other than for sepa- 

 rate school districts 208,882 58 



Net debt of cities (first and second class) 88,762,186 07 



Net debt of incorporated villages 979,851 16 



Net debt of school districts (special) 1,469,287 08 



Total $89,828,569 10 



The amount of reimbursable debt, therefore, 

 is: 



State. . $6,479,50680 



Local 89,828,56910 



Total... $45,808,07440 



Irreducible debt (school fund) 4,281,404 58 



Aggregate debts in the State $50,089,478 98 



The local indebtedness in this statement is 

 reckoned to September 1, 1877, and the State 

 debt to November 15, 1877. 



The balance in the State Treasury on the 15th 

 day of November, 1876, was $585,829 04 



The receipts, including draft for $300,000 of 

 taxes payable in 1878, for fiscal year ending 

 November 15, 1877, were 5,127,304 8S 



Total amount of funds in the treasury 

 for the year ($800,000 of revenues an- 

 ticipated as libove) $5,718.428 42 



The disbursements during the year have been 4,726,414 Ofl 



Balance in treasury November 15, 1877. 

 The Auditor of State estimates the receipts, in- 

 chiding the balance on hand November 16, 

 1877, for the current year, from all sources, 

 at... $5,568,88388 



Revenue $814,980 



2,186,44*. 28 

 1,100,862 98 

 1,540,878 00 



Total $5,598 618 82 



Leaving estimated deficit in treasury Novem- 

 ber 15, 1678 99,184 96 



The taxes levied in 1876, collectible in 1877, 

 were : 



State taxes $4,62,620 64 



County and local taxes x8.8M.flBB M 



Delinquencies and forfeitures l'448,929 20 



Total $~29,965,186 7 



The taxes levied in 1877, and collectible in 

 1878, are : 



State taxes $4,560,879 68 



County and local taxes 22,'.'64,271 16 



Delinquencies and forfeitures 2,001,OV6 74 



Total $29,525,748 68 



The State Auditor's report contains the val- 

 uation of property in Ohio since 1800. Up to 

 1826 real property only was assessed for State 

 taxes. The county and town taxes were raised 

 by a poll-tax, licenses, and various special 

 taxes. The whole property assessed for State 

 purposes during fifty years was as follows : 



In 1827. 

 In 1887. 

 In 1847. 

 In 1857. 

 In 1867. 

 In 1877. 



$47,906^886 



76,788,176 



BM,TM,7M 



678,998,707 

 1,064,416,878 



PmouL 



26,890,566 

 464,761,083 



The two periods, one including the war, and 

 the other since, show the following ratios of 

 increase : 



Thus, since the war, realty has increased 

 fourfold, and personalty scarcely at all. The 

 whole value of property (that is, assessed 

 value) in the last three periods was : 



Inl867... $849.414,679 



InlS67 1,I88,764.77 



Inl&77 1,674,646.766 



The total increase of assessed values in three 

 periods is nearly the same. 



A comparison of taxation for the last three 

 decennial periods shows the following : 



The disbursements at : 



Deducting the State tax from the total tax, 

 it will be seen that the local taxes are fourfold 

 $987.oo 8 more than the State teXi an ,i they inert** 



much faster. In fact, the State tax is not now 

 increasing at all. From 18fl7 to 1877 the Mutt- 

 tax increased only $579,280, while the local 

 taxes increased $7,261,035. The aggregate 



