Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1877-12-11
The Governors Message.

~AoupcI was pTeSeuIcu W Ine Ueuc-
raj Assembly on Wednesday last. 1t is
an able and well-written document,
ana OF considerable length, and would
occupy about ten columns ofone space if
we were to publish it in full. As but
lew would take the time to read a docu
ment of such length, and would prefer
synopsis, we avail ourselves of that
furnished by the Baltimore Sun as fol-
lows:
The Governor commenced his mes
sage with the declaration that there is
cause for profound congratulation that
the worst evils possible to befall the
State from any human source have been
successfully tided over and says the evil
Jence cannot be resisted that the future
Of Virginia is full of hope. He adverts
70 the fact that in July, 1869, the polit'-
cal restoration of Virginia was consum-
mated by the acceptance by the people
OF constitution which, however other
wise obnoxious, yet restored to them
selves the control of their own govern
ment, and censures what he terms new
and disastrous policies fastened upon
the Commonw wealth: First, that of di-
verclng the State government from the
control of the public works, by which
| not only were the best assets and secu-
rites of the public credit squandered and
sunk, but another disastrous result is
that the main arteries of internal COM
inerce have been surrendered to con-
troll which Is alien if not unfriendly TO
the development of Nirginia's own
marts of trade.
SnaOndIu Gnyprnnr II
tains that another, if not equal injury,
resulted from the passage of what is
| known as the funding bill, which, he
declares. ''deprives the State of all con
| troll over q large portion of its annual
revenues for more than the period of
the present generation" Under the OPP
erations of these new policies the Cover
| nor says nothing less than extraordina
| ry caution, economy and vigilance has
sufficed to meet current expenses, to en-
| force the laws, and to hold society to-
gether. These troubles have been en-
HANGED by the monetary panic of 1873,
| which locked up the inadequate circu-
| lating medium, increased the hardships
of taxation and hindered the collection
! of taxes. and inevitably postponed the
financial restoration of the State.
| In estimating these difficulties Gov.
Kemper thinks there is cause for reoic-
ing that Virginia has struggled success
fully through them all and he sage he
f! speaks deliberately and advisedly in
| affirming that the worst is over.
For more than year the great none
| tary panic has been steadily and visibly
| receding. The taxable values and an
nual revenues give every promise of
continued and progressive improvement
while in all practicable directions, and,
as far as the existing laws permit, the
public expenditures have been cores
pondingiy reduced. During the last
Tour years not only have The public
scools and charities been maintained,
law and order upheld, and the authori-
ty OF the government preserved in it's
vigor, but the SUM of 1925, 953.42 has
been paid on account of the State, and
| the outlook for the future is encouraging.
While alarming conflicts between CAPT.
tai and labor have shaken the founda-
lions OF society elsewhere no ripple of
laWless excitement has disturbed any of
the currents OF business in Virginia.
| The receipts from taxation for the fis-
cal year 1876 We're 81, sos, 3S7.17. whilst
the average for the last eight fiscal years
Would have been greater but for the
| difficulties in changing from one system
OF liquor taxation to another, the tax on
consumption by the new process having
been suspended for considerable period
i'll federal court. The disbursements
for the year were 50, sos 1857, as follows
! Expenses OF the government, 1861, 1893 /;
extraordinary and temporary expenses,
$92. 252; public free schools, 1926, 266
interest on debt, 81 1852, 10; balance APP
piled to temporary loanssof 1906, $57,
564. The ordinary expenses of the gov
eminent for the last fiscal year was less
than for any year since the constitution
took effect. and less by SSS, 5S3.US than
the average annual expenses of the last
eight years on the same account, and
this despite the fact that the criminal
expenses, which are wholly beyond exc
cuIive control, have continued to in
crease ill an extraordinary manner.
j Gov. Kemper says that of all the va
carries and eXtravagances of the period
we live in none exceed the mis- lppre-
Tensions which have obscured the finan :
cial condition OF Virginia. 1T is" be
says, Ito be deplored that interests SO
complicated, sensitive and sacred as
those of State faith and credit should
ever be bedraggled in the ephemeral
excitements of personal and partisan
politics. The principal sum Ofthe debt,
the arrears OF interest thereon, and
the annual deficiency in the treasu.
ry, have all been subjects of the widest
exaggeration while the market value
of the public bonds has been deprecated
and the popular mind has been discour-
aged bv mlscalculations as to the ability
of the State to carry its debt, which are
in the last degree erroneous, fanciful
and eXtravagant."
The Governor then recapituIates the
State debt, which he says at the begin
ming of the present fiscal year was
Principal, 500 ,350, $751; rs; arrears of in
) terest since the passage of the funding
bill. and which constitutes so much
non-interest bearing debt, 81, 1SS, 14l. 80
total debt at beginning Of present fiscal
year, $33, 538 ,958.U9; the entire debt as.
!, sumeu by the funding bill was $40, 49,
646.49; increase of debt in six years
So 06U, ZIG 60; showing an average yearly
increase Of only $50, 216.6O; TIL.
State yet retains several interests
in internal properties other than the
water line, which if sold and the pro-
ceeds invested in the new funded bonds
of the second class would retire 81, 900
600 of the existing debt, leaving the out
standing indebtedness of the State $31,.
63S, 958.
Gov.'Kemper contends that it is as
clear as mathematical demonstration
that if the Legislature shall leave the
general features of the present revenue
fsystem untouched, merely correcting
patent defects in matters OF detail, the
current revenues of the State treasury
will hereafter suffice to pay full interest
in the future on the entire outstanding
debt, and then gives the reasons for this
opinion. The adoption of biennial leg
islative sessions alone reduces the State
expenditures $1,000 perannum, bring
ing the annual deficiency down to $40
OSLO. The balance OF ting revenue, the
4 Governor says, needed to cover this re-
duced deficiency is already guaranteed
!, by the new revenue measures devised
by the last General Assembly. phe
method now in force for taxing the con.
sumption of alcoholic and malt liquors
J is All experiment which its authors nave
not claimed to be free from defects, and
although more time is required for Civ
ing it full and etfectual operation in
many portions of the State, yet the re-
} turns already made demonstrate beyond