The Aberdeen examiner. [volume] (Aberdeen, Miss.) 1866-current, 1884-08-07
The New state Bonds.

The New state Bonds.
Another gentleman from the piney
woods counties-this time Lincoln
county man-called at the State
Treasurers office last week to fund
ten thousand dollars in the new five
per cent, bonds.
By-the-way, some of our exchanges
have expressed surprise at the State
putting her bonds upon the market
This is done under authority of all
act of the last Legislature providing
for the placing Of 100000 in five
Der cent. bonds, or as mitch thereof
as may be found necessary to bridge
over passlble deficiency that may
occur during the fiscal years 1884
and 1885, in consequence OF the ex-
cess oil appropriations above estimat-
Cd revenues made for the years
named.
1t will e remembered by our read
ers that the State tax in 1880 and 81
was three mills-For lSS2-S3 it was
Ieduced 20 two and half mills, and
yet the following large items among
others were added to the usual APP
preparations for carrying on the State
government;
An M. College, farm equipment { y $50
Completing Blind Asylum,...... 10 BAG
Heating apparatus etc, fer the
public buildings, .........,... ID 20
Insane Asylum at Merdian-
erection Observation-Disclosures. O.. 30 OW
A :dition to Free school fund.-, 100 600
Additions A. s NJ. College,...... % 500
COlored deaf and dumb Asylum, 10 OW
Immigration fund, ............... % OU
To redeem outstanding bonds. los 900
For the years 1884 and 1855, the
following additions were made to the
appropriations necessary to carry on
the Government:
Exposition Bureau, .,.........,....sl2 800
Female College, ............ .......' ~ wv
Heating apparatus for Luuatic
Asylum, ,........,...,.....'. ''' ~ WV
Enumeration. . 900
Completing Meridian Insane Asy- ooo
lum, ........................' DO wv
Support Meridian Insane Asylum
two wears. '...................... 50 900
UickshIro Marine Iuspital,...... II WO
Repairs on a. s. NJ. COllege,....... 10 900
improvements at Alcorn Cniver- .,.
slty, .........'..'....''' II U,N
Rail Road Commissioners. .....,. - OD
1t will be seen from the above fg-
ures that only represent leading
items, that the appropriations for the
two years, lSS4-1SS5, are S238,50O
in excess Of the usual expenditures,
and yet embrace but two items upon
the necessity for which there is any
great diversity Of opinion. 1t is
generally supposed that the increas-
ed revenues of the State for the years
named will cover this amount, but
the taxes are not collected until the
fall OF the year and number of these
appropriations are made immediately
available, hence it was necessary for
The Legislature to increase the rate
Of taxation for the next two years, or
to permit a floating debt to depreciate
her securities, or to use her credit at
low rate Of interest and meet all de-
mands as usual, in cash.
III compliance with this authority
she asplaced thirty or forty thou
sxiId dollars worth of her five per
cent. bonds at par, and may have to
increase or possibly double the
amount before her Golfers are re-
plenished by the Tax Collectors, but
It is far better to do this than to un-
necessarily increase the rate of taxa
tiou or permit the warrants issued by
her Auditor to be hawked upon the
streets at discount as they were in
the days of Radical rule.
The State can get all the money
she wants from her own people at o
per cent, whereas by largely increas-
ing the rate of taxation she may force
many of her citizens in these times of
suingency, to borrow money to pay
taxes at from ten to fifteen per cent,
iaterest.