Show J It Would Seem Prudent COUNTY AUDITOR FERRELL H. H ADAMS has sounded a warning to Salt Lake county commissioners which not only the commissioners commissioners commis commis- but the taxpayers ers and people generally generally gener gener- ally aUy of the county would be wise to heed Mr Adams pointed out that the county county's assessed valuation has been going up steadily t for tor the past four years to reach last Jast year the highest since 1930 This year it will wU probably go stilt still larger On the basis of of this increasing valuation the county co has bas had d a a. steadily increasing tax income The same situation of a steadily IncreasIng increasIng increasing ing valuation and a corresponding increase In county income existed prior to the last lat de de- de- de But with the depression came a drastic drop In assessed valuation from a peak of in 1930 to in 1934 Much of ot that decrease was due to curtailed operations cf f mining companies companie t Those whose memories go back to that period remember what a difficult time I It was for the tho county government and for the tax payers With the great drop in valuation revenues at the old tax rate would have fallen off to such an extent the county could not have continued to operate The answer in addition to what economies could be instituted was a sharp increase in the tax levy And that increase came cam at a time when the taxpayers taxpayers tax tax- payers ayers could least afford to pay it The situation was bad enough in the last depression But there is every reason to believe be be- believe lieve it will be worse if there is such a depression depression de de- de after this war The cost of relief S r to the bounty founty was not very great in the last depression for depression for instance it amounted to in 1936 What it will be in the next depression nobody knows but in the good year of 1942 the county spent more than half a million dollars for public welfare In a seri- seri out depression after this war it might easily total a million dollars J We face the prospect therefore in the i event of a serious depression after this war of a greatly increased relief burden and at atthe atthe atthe the same time a greatly decreased assessed valuation There would be only two possible answers if we met such a crisis without prior preparation One inadequate relief or two j a dangerous increase i in the tax tac rate at the ver very time tame when the the Pe people would be least able 1 1 to stand an increase and when the result might be only to force lar large tax delinquencies Obviously neither is a satisfactory answer And the only alternative is prior preparation repa which is what Mr Adams proposed to the I I county commissioners I I He said It would seem prudent to me th that t the county should adopt a a. policy of foregoing fore fore- foreS S going any ally expense that Js Sa not absolutely essential to the present war wa effort and cre create te tea a reserve to eliminate the necessity of gf again t plunging lunging the county into debt in order t to t finance fi finance nance any postwar emergency y I That debt reference is to the bond issue floated after the last war to provide employment employment em em- for returning ret so soldiers i rs and n ncI w which ich j is Fi finally due to be liquidated next year rear rear clearing clearing clear clear- ing the county of all alt indebtedness In addition t to being ein out Qt Q of R debt bt next t year rear the county will have bave i in war bonds already purchased a 33 UI a reserve for th the future It would make s sense n to build tl that t re reserve ry further as much a M is s possible ibl and as s riiPi rapidly rapid rapid- ly y as is possible Such present financial preparation during this U period of good times time for a postwar emergency might save us from serious financial trouble |