To materially increase the bonded debt of the State was not deemed wise, yet some had to be raised in that way.

To raise the balance a higher rate of taxation had to be imposed since the assessed valuation of the taxable property was so low.
The figures showing the assessed valuation of taxable property in the State and the receipts and disbursements prior to 1875 are not available, but, taking the figures for that year, the reader can form a pretty accurate idea of what the situation must have been prior to that time.

In 1875 the assessed valuation of real and personal property, subject to taxation in the State, was $119,313,834.

The receipts from all sources that year amounted to $1,801,129.12.

The disbursements for the same year were, $1,430,192.83.
Now let us see what the situation was after the Ames administration had been in power about two years,--or half of the term for which it had been elected.