The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1879-08-14

cultes presented by the financial situation OF the
Commonwealth.
A. That our past experience demonstrates the
great benefit resulting to the people OF Virginia
| from an active. thorough and efficient Conserva-
| tive organization representing and expressing
the views and wishes of all classes and conditions;
that in order to continue to enjoy such benefits
all good citizens should strive to strengthen and
| preserve that organization. and by mutual con
cessons to settle all differences OF opinion, Just
| ly and fairly inside OF the party.
| We proceed now to show from the public re
cords with what fidelity and success this promise
| of our party has been redeemed.
| Upon the threshold of the labors OF the Assem-
bly, the first question was, what amount OF in
come could fairly be anticipated as
THE ANNUAL REVENUE
For the five years preceding this assembling Of
the Legislature the total public receipts, exciu-
sive Of loans, had been Sl2 ,s33. AGO Sian veragA
for each year of 1856 690.l0. (See Senate docu-
ment No. IA, session l878-'79
The next inquiry related to
THE ANNUAL EXPENDITURE.
This consisted of three items:
l. The annual interest on the debt,
which at the existing rate was.... $1,s26,77 II
(See Second Auditors report year
ending Both September, lS77)
2. The c1rrent expenses of govern
ment. ordinary and extraordinary,
which for the year preceding (Seh-
ate Document IA. Session lo7o-'79,
s. The = annual amount due the
schools (see report of House Com
mttee on Finance, January IL,
1873 .....................- 4s'ios %
Tota, expenditure. So ss4 2os rs
Deduct average revenue. ............ 2a6o-ois w
And there appeared an annual deficit
d.. .---.......-...... Toi''U~o ~o
To annihilate this deficit and bring the ex-
pense, of the Government within the scope OF a
revenue which was not to be Increased ny adul-
tionai taxation, demanded Of course reduction
of tx expenditure. This could not be effected in the
matter OF the schools, and the Legislature was
| nelle0 to it in the current expense &C
| count, the interest account or in both; and the
first effort OF needed reform was made III Tie ac-
The ordinary expenses Of the Government for
the year 1861 were 1857 1913 AZ. jealous an ex-
| h&ustive serntny oil every item OF public eNpen-
dilure was maze, and with unsparing hand, every
superiluous outlay pruned, every di-peiIsable
| office abolished, and many salaries We're 1lililn-
ished an the Appropriation bill for the cur mt
year (see Acts 1879, page zlD discioses the re-
| suit i'll an aggregate expense account OF only
| S7go 533 from which. i'll estimating current ex-
| penses proper must he deducted s30.GOO hppro
priated to the enlargement Of the Eastern Lima "a,
| It's Asylum $3l 200 for enlargement OF the Wes-
| tern Asylum, and the half of the SooouO appro-
priated for Legislative expepses-for, the ses
sions being henceforth I'll .Inlal MS expenditure
will be encountered only once i'll Two years. With
| tn .se deductions. the annual ordinary eXpend1-
| ture OF the Government amounts to S659,ao3.
! That the o. d ia. y expenses OF the state. Gov
| eminent neea not exceed this sum IN the future
is demonstrated by the recent communication of
the Auditor Of PuiIic Accounts, dated August l.
| 1879, Ill reply to Senate resolution by when ne
estimates the ordinary expenses 81 the Severn.
me Mt for the year 1879 80 at $680,560, in which it
will be he includes $1,000 for the exp nses
OF the General Assembly for the coming session
| which will make that body only cost S30OUO per
| al num- thel eoy reducing the ordinary expenses
to $3.50 $685.. 1t will he noted that tn estimate OF
| the Auditor is based upon the Practical results
| of the retrenchment measures OF the session OF
| 1S77-'78
| This cutting down of expenses was indeed
| treating a grave public question with heroic
hand but under the circumstances 1t was as alu-
| tary as severe, and proved the sincerity OF the
party pledges of reform. The far more impor-
liant difficulty OF reducing the annual interest on
| the debt remained. The first bill passed-the
| Barbour bi-nade no pretence OF reduction OF
| this item. 1t simply bill to apportion the
| rev. nue. and confesseuly would not have dimin-
ished the annual deficit one dollar. 1t was vetoed
! by the Governor on the ground that it was I'M
! constitutional, and failed Of passage over that
veto. Thereupon what was known as the Bo-
| cock-Fower bill'' was passed-approved March
IA. 1873. (See Acts. 1877-'78, p. 23O) This was a
tender to the public creditor OF a new non-taxa-
BILE bond bearing interest at per cent. for elgh-
teen years, and per cent. for thirty-two years,
in exchange for the outstanding bonds OF the
State carrying 6 per cent. Shortly after its pas
sage the Legislature adjourned.
| On its re-assembling in December, 1873. it was
ascertained that creditor had accepted the
terms. and such was the apparently irreconcila--
BILE diversity of opinion which had been losed
in the discussions in the body that a compromise
| seemed now hopeless. But our party had as
sumed the burden OF that settlement, and under