Peninsula enterprise. [volume] (Accomac, Va.) 1881-1965, 1889-12-07
Gov. Lees Message.

Gov. Lees Message.
RICHMOND, VA, Dec. 4, SO
At noon today the Virginia Tfgis-
latnle, elected in the contest of
November 9Th last, was opened.
Soon after the two Houses were
organized Gov. Lee sent, in his last
annual message. The salient points
of The message as dictated by the
Governor himself are these.
IF all the outstanding obligations
-nf the State were funded into Rid
tI!cherger bonds the principal
would he in round numbers 500
O00, 900, carrying m ANIMAL in
tereSt charge of 100000. By us
ing the assets of the State, &c,
this principal conld he reduced in
round numbers to $1,000. 900, car
;ying IN annual interest charge of
$50, 600. II the present appropria
rions arc continued and the reve-
mes remain practically the same,
the amount available TO pay inter
est on amy settlement of the debt.
III round numbers will I've about
1851. 600. The difference between
This amount and the interest which
would hsye to he paid under the
new settlement now afforded the
creditors. could he provided for by
the Legislature. The most imp0r-
tant point in the financial part of
the message, Continues the Gov
elnor) is where he question is mar
rnwed down to the items alone
that are pressing for settlement
The message intimatcs that the
S12.9 00,0 900 in ronnd number with
tax coupons, and the S5,S00000 of
tax coupons which have matnred in
and inclusive vi January 1st, 1890,
might he funded at seventy, sixty
and forty cents. respectively. max
ing a total principal of S14.950 600.
on which. at thee per cent. the an
nnal interest would he S44S, 800.
IT the above classes of bonds can
he settled in some such way, the
debt would he settled. AS the
litigation has been over them alone,
the State has had to pay on an
average during the past wo years
$685. for coupons forced into
he treasury for taxes. IT some
such proposition as has been out
lined were accepted by tle credi-
tors. tfe State would only have to
pay slG3.000per amman more than
she has been paying to have the
debt settled.
AS tonew subjects of taxation
tbr Governor under the head of the
State debt says: "Bv the exercise
Of the greatest economy, Ivy search
inc yonr tax laws closely, by an
examination of the lax laws of
other States. there may be found
some new subjects of Taxation by
which sum greater than the one
haveI stated would represent its
interest ability after providing for
those expenses absolutely rrces-
sarv 10 carry on the State f4overn-
ment: bnt until this is done it is
not safe or sound to make any
compact carrying a greater obllga-
ton than You have in sight the
means to provide for. In conclud-
ing this portion Of my message l
capnot too strongly impress upon
You the importance OF reSolnttly
refusing to enact any legislation
which will produce an increase in
our list ofexpenSeS."
Tn concluding his reference to the
boundary dispute between Mary
land and Virginia, the Governor
SAYS: IL feel that this General AS
sembly, as well as the corresponds
ing body of Maryland. now seon
to assemble, will jointly arrive at a
solution of the question at issue
which will satisfactorily protect all
concerned in the interest Of their
respective States and not leave a
ripple of rage upon single wave
of the great river flowing between
them. Virginia, by legislation.
has solemnly asserted her right to
This water. 1t is my duty, there
fore, as her Executive, to protect
the property o, those who have
leased it nus sn5r 19yi;F7l= FL
my possession bearing upon the
subject" Norfolk Ledger.