of the amounts to the credit of the Chickasaw and common school funds, the balance of current funds on hand, and warrants in the Treasury belonging to the State, to be $980,138.33.  Then, by proceeding again as above, and deducting the amount of the tax of the previous year, uncollected on January first, 1876, and now being rapidly paid into the Treasury, at a low estimate, $460,000.00, we have as an actual indebtedness of the State on January first, 1876, $520,138.33.  Thus it will be seen that the actual indebtedness of the State is but little over a half million dollars, and that during the two years of Governor Ames’ administration the State debt has been reduced from $821,292.82, on January first, 1874, to $520,138.33, on January first, 1876, or a reduction of more than three hundred thousand dollars in two years—­upwards of one third of the State debt wiped out in that time.  Not only has the debt been reduced as above, but the rate of taxation for general purposes has been reduced from seven mills in 1873 to four mills in 1875.”

Notwithstanding the fact that the rate of taxation under the administration of Governor Ames had been reduced as shown above from seven mills in 1873 to four mills in 1875 the amount paid into the State Treasury was substantially the same as that paid in prior years.  This was due to the great appreciation in the value of taxable property.  Then again, a material reduction in the rate of taxation was made possible because the public institutions had all been rebuilt and repaired and a sufficient number of school buildings had been erected, thus doing away with the necessity for a special levy for such purposes.  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.  The amounts now collected and paid out for the support of the State Government are more than double what they were a few years ago, thus showing extravagance, if not recklessness, in the administration of the affairs of the State,—­the natural result of a condition by which the existence of but one political party is tolerated.