Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1888-01-05
TIVE GOyERNOR's MESSAGE.

centennial CtlcDGdtIoH anu lOI lilc WEI
come of the G. A. z. organizations in
Columbus. All public institutions are
reported in good condition.
1t is recommended that Mayors should
make all appointments.
Brief reference was made to the Pauld-
ing reservoir troubles and is very pacific
in tone. The canals are in improved
and encouraging condition, although a
burden and expense to the State.
Anew system of public accounts for
institutions is recommended.
As to finances the Governor says: The
receipts from all sources for the general
revenue fund of this year will be about
! $2,800,000. OF this amount about $780,
900 will have been expended prior to
January Is, 1888, leaving the net amount
of S2,300,000 available for general pur-
poses. Your appropriations from the
general revenue fund may exceed this
sum. 1t viii be necessary for you to
make special provision or compel antici-
patton again Of next years revenues at
the end of this. The habit of anticipa-
ting revenues, although authorized by
law, is a bad one that should be avoided.
! We are able to meet all demands as they
arise, and each year should pay its own
debts.
The falling behind of the State finan-
cially has been chiefly due to the fact
that expenses nave been necessarily and
continually increasing while our reye-
nues have remained substantially the
same. What has been true, as to an in
crease of liabilities to be paid out of the
general revenue fund, has also been true
as to the sinking fund.
The amount of the public debt paya-
bic out of it was for 1885 but $350,000,
while for 1886 it was $375,000, and for
1888 it will be $600,000 But for 1889
and each year thereafter the amount will
be but S250,000 On this account and
because Of the reduction of interest the
liabilities of the Sinking Fund for 1889
will not exceed the sum of about $780,
! 600.
But for the present year its receipts
viii be insufficient to pay its liabilities
by the amount of about 100000. This
viii make it necessary to refund at least
that amount of four er-cent bonds ma
turing July 1, 1888. But inasmuch as
you can not pay in full the S600,000 ma
turing next July, and must refund as to
a part, it is recommended that you pay
only one-half and that you refund the
balance.
We are doing well enough when We
are paying all our current expenses and
discharging our bonded debt at the rate
of S300,000 per annum. By this means
you will provide surplus of about $780,
900 for the Sinking Fund from this
years receipts, which can be applied to
its liabilities for next year, thus leaving
but about 100000 to be raised for that
fund to meet ell It's liability for 1889.
Two-tenths of one mill will be suffi-
cient rate for this purpose. Hence you
can safely reduce the present rate of five
| tenths of one mill for the sinking fund
! to twO-tenthS of one mill and add the
| three-tenthS of one mill so taken from
the Sinking Fund rate to the rate for the
General Revenue Fund, and with strict
economy this will almost, if not quite,
provide for all deficiencies. If the course
here indicated be pursued, it will save
the necessity Of either borrowing or in
creasing the rate of taxation. Reyision
of the tax laws is advised.
Also the taxation of foreign corpora
tions the message is particularly expli-
cit in the demand for some method which
will cut down local indebtedness and in
crease in the same way the revenues of
the State.
Attention is also called to the Treasury
defalcations, and some words of COM
mendation are spoken of the Dow law.
The message concludes with the tar
iff, saying: 1t was then generally sup
posed that we had heard the last of free
trade, at least for a time, but not so.
The recent message of the President of
the United States commits his admins
tration and the party he represents to
the most unqualified and hostile opposi-
ton to the entire principle and policy of
4 protective tariff. He seeks to make
it appear that the blow he would strike
is aimed only al the manufacturing and
wool growing interests of the country,
but it is manifest to all men of intelli-
gence, who are acquainted with our con-
ditions, that if his propositions prevail
| the consequences will be disastrous to
every industry and every section of our
country, and to no class more surely than
our farmers, who must rely chiefly on
our home markets for the sale of their
products, and our laboring people who
depend upon continuance of that gen
eral prosperity that has obtained for the
last quarter of a century for employment
at remunerative wages.
But it should be particularly noted by
you that it is deliberately proposed to
practically sacrifice altogether the wool
growing interests of the country by re-
moving from it all protection whatever.
You have also the right, and you should
exercise it, of requesting our Represen-
tatives in Congress to oppose all such
measures that may be offered. Other
and better ways can be provided for dis
posing of the surplus revenue than by
breaking down our home industry and
exposing our labor to foreign competi-
ton. All, therefore, who think more
of this country than they do of any 9TH
er, and who appreciate the great bless
ings We have enjoyed in consequence of
the protective tariff policy which has
been pursued for the last twenty five
years, should stand firmly together in its
support, and not only should we contin-
ue to protect and develop every industry
that is essential to cur greatness and in
dependence, but we should afford direct
protection to our labor by carefully dis
eliminating against every kind of So
cialistic, criminal or disreputable char
acter who may seek to immigrate to our
shores. Next after our obligations to
God, it is our highest duty to take care
of America. Respectfully submitted.
J. b. FORAKER, Governor.