From this showing it would seem as if it were reasonable to assume that if such an administration as the one then in power could have been retained a few years longer there would not only have been a still further reduction in the rate of taxation, but the payable debt of the State would have been entirely wiped out.

Instead of this we find the conditions to be about as follows: First.

Shortly after the first reform State Treasurer had been in charge of that office it was developed that he was a defaulter to the amount of $315,612.19.
Second.

Notwithstanding the immense increase in the value of taxable property from year to year, it appears from the official records that the rate of ad valorem tax for general purposes has been increased from four to six mills.
Third.

There has been a very heavy increase in what is known as the specific or privilege taxes,--that is, a specific sum that business and professional persons must pay for the privilege of doing business or of practicing their professions in the State.
Fourth.