Savannah morning news. [volume] (Savannah) 1868-1887, 1885-08-01
GEoRGIA's FINANCES.
Figures which BespealS Prosperity b'
show NeedSof a Small Special Tax.

Figures which BespealS Prosperity but
show Needlef Small Special Tax.
The Atlanta speeiaI''to the MORNING
NEWS 6fyestefisy intiipated thar slight
incease of the State tax might be neees-
sary. The Atlanta Constitution of yester-
day has the following article on the same
subject
To-day q Joint subcommittee from the
Finance Committees of the Senate and
House of Representatives will begin an ex-
animation into the condition of the State
Treasury. Their report is expected to fur
nish an accurate account OF the public
finances, and TO suggest what legislation
is advisable to enable the State to meet
it's necessary current expenses for the
present and next fiscal year.
AS this is one of the big questions be-
fore the Legislature, the action OF the
joint Finance Committee is being awaited
with great interest. The history of Geor-
gia's finances for the past 10 years re-
veals a remarkable degree of prosperity
rs evidenced in the increase Of taxable
property, and also shows stringent econo-
my in the management and application of
the public funds. In few States OF the
Union is the rate of taxation so low. 1t
was, in 1878, 5 mills, while nearly all of
the Southern States were laying much
higher rate. At that time rapid reduce
tiOn was begun and every year the tax
rate was reduced.
BY 1882 it had fallen as low as three
mills. When the Legislature went to its
work in the fall of that year the Finance
Committee of the House felt justified in
recommending a still further reduction OF
One-half of one mill, making the levy only
~ mills. This brought it down remark
ably low, but the rapidly increasing value
of flsNs fnt hn fR4a
then rising at the rate OF about $40, 000, 900
annually, appeared to Justify the opinion
that the lower rate would raise all the
revenues needed for the support of the
government. Another consideration
which induced the decrease was the fact
that $4,000 would soon be paid TO the
State AS part Of the purchase money ofthe
Macon and Brunswick railroad.
1t was supposed that this amount would
be applied TO the payment of the interest
on the States securities, and thus surely
tide it over any possible falling off which
might result to the revenues in the first
two or three years OF application of the
reduced tax.
The Legislature met again in the sum-
mer of 1888, and was 10 session nearly
three months. At that session there were
several large appropriations made. About
$4,000 was given to the building fund of
the lunatic asylum, besides the regular
sum for its maintenance.
The act allowing manned Confederate
soldiers artificial limbs, or their value,
once every five years was 80 amended as
to make the term three years instead of
five. This entails an additional expense
of about 500, 900.
The appropriation to the North Georgia
Agricultural College was $4,000, and
$1,000 extrs was appropriated to the State
University.
1t was at this session that the capitol
bill was passed. The expenditures under
the bill for plans, etc, were SAL, 900 the first
year.
Thus large amount of unusual appro-
priations had to come out Of the States
income for 1884.
When the $750,000 was received from
the purchasers of the Macon and Bruins
wick railroad Gov. Mcdaniel applied the
entire amount to the reduction of the
principal of the States debt, and not to
the payment of the interest. This re-
moved a fund on which some of the advO-
Gates of reduced taxation had depended
as prospective part of the States re-
sources for the year 1884. This combina-
tion Of circumstances caused deficit In
the revenue of last year OF about $I37. 200.
The Governor is authorized to negotiate
temporary loans tn the State,
which shall not exceed 100000 or be
borrowed for more than one year. Last
year he borrowed under this authority
$l50.000, which has recently been paid
There is question now as to the suffi-
cheney OF the funds on hand 10 run the
government until the taxes for the pres
ent year come in. In the State Treasury
there is about S4S0,CO0 available. 10 addi-
ton to this there IS the check for $172, 900
deposited as security by the purchasers
of the recent issue of Al per cent.bonds,
which is considered as subject TO the use
of the State.
In the opinion of some legislators, there
will be enough money thus supplied to
carry the State through until the revenues
of 1880 are collected, tut all admit that
some provision is needed for 1886. There
will not be another session of the Legisla-
ture until Now, 1886, and provision must
be made at the present session for the fis-
cal year of 1857. There is not enough
prospective income from the present rate
OF taxation TO meet the expenses of the
State next year and also to supply the
5000, 200 which will be needed for the con-
tinuatiOn OF the work on the capitol. A
prominent member of the Legislature said
yesterday:
"There is apparent in the Legislature
determination TO continue the work upOn
the capitol without interruption. 1t is
probable that a specific tax OF One-half OF
0ne-tenth OF per cent. VIII he levied for
this purpose as a solution Of the entire
difficulty. That would leave ample pro-
vision for the ordinary expenses OF the
State out Of her income from the ~ mills
tax, and 1t would raise about $1,000
year for the continuation Of the work on
the capitol. i am confident that a bill
authorizing a specific tax for the capitol
will be passed. II will lay tax 80 light
that no one would Nfeel, and it appears
to be the simplest way TO raise
the money which we are Obliged
TO have. have heard from a great
many members Of the Legislature Elk
pressions of approval Of snch n policy, !
aud have not heard any objection to II. /
We will know more about the matter and
be better prepared to act upon II when |
the finance committee gives us state |
ment OF the condition Of the treasury" |
The subcommittee will 20 70 work to-day. |
Ii will make Il report IN few days TO the |
Finance Committees OF the Senate and /
House. who will lay the report before the |
two houses.
Mr.. Gordon, of Chatham, is chairman I
of the subcommittee on the part Of the /
House, and Senator MattoX Is chairman |
Of the Senate subcommittee.
Farm Facts.