The times. [volume] (Richmond, Va.) 1890-1903, 1893-12-07


am arauned 20 be able 20 say that our
financial condition is better than 81 has
been for many years and IL is steadily
improvinc. our revenue is now ample TO
meet the regular expenses Of the govern
ment. sustain the asylums, aid Institutions
OF learning. and continue the present lib
er;l appropriations TO the public free
schools. pay the interest on the public
deb. and provide for our Confederate
veterans.
The assessment of taxes in 1850, the last
year OF The preceding administration. was
s.. .Gis. .523l3. and in 1893 II was $3,147,-
j0G.3i-an increase Of Si0S. .9S3.1S
During the present administration, we
have been at great expense in increas-
ing the capacity OF the asylums FOR the
insane; IN building barracks at the Nir-
einia Agricultural and Mechanical College
at Blacksburg; in enlarging the cells and
workshops at the Virginia Penitentiary.
and in the settlement OF arrearages due
to the school fund. These necessary expen-
ditures required large amounts Of the
public money. much Of which IS now con-
verted into permanent Improvements be-
longing 10 the state. By iudicious man
agcmcnt our revenue viii be increased
hereafter by receipts from the penitenuary'
which has bcOme paying institution
by the oyster industry and the rent oi
the oyster grounds which have heretofore
been sources of expense. Our cities are
growing I'm population and wealth; our
railroads are being extended, ana the
revenues are annually Increasing Besides
there are various reforms by which our
expenses could be reduced, which ! viii
point out under the proper headings IN
This message. / feel therefore, that j
can congratulate the General Assembly
upon the condition Of our finances, and
the encouraging future which IS before
ms. after the long years OF financial distress
through which We have passed.
Th nh -Deb
The State Debt has been settled to the
satisfaction Of our creditors. We have
agreed % exchange $i9.000c0 Of new bonds.
payable 100 years after date bearing TWO
per cent. Interest for tho Hrst ten re''s'
and threeper cent. thereafter, for $4,000
900 of old overdue bonds, the greater part
Of which bear six per cent and few five
pcr cent interest. and ir0 baia"oe f0W
per cent. Twenty four million, five hun
cred and forty-seven thousand, three hun
dr / and nfty-cight dollars and twenty
three cents Of old bonds have been re-
ccivtd in exchange for new bonds, ana
cancelled. There Is still outstanding q
small balance Of bonds which have not
been exchanged because the Limitation
given the Board of Commissioners eXpif-
ed before this could be accomplished.
Their powers should be promptly renewed
for "a limited time so that all or the
dpbt may be settled upon the same con-
ditions -Four times the semi-annual inter
est on the new Indebtedness has become
due and at each recurring period the
money was promptly paid to the bond
holders showing the ability Of the state
10 meet the interest when due without
increasing the rate )f taxati1l or addins
new burdens 20 the taxpayers, verifying
my opinion AS to our ability toe DO so
expressed ct the time Of the settlement.
s.urch - e Bonds.
I would advise that an Act De passed
authorizing Cle Commissioners OF the
Sinking Fund to purchase so many oil
the bonds of the State as they can dp
with propriety using such money as may
bc SHARED conveniently from the Treasury
after all the liabilities Of the state nave
been satisfied. so that there shall be no in
crease I'm the amount 10 be paid IN mect-
ine the three per cent. interst when 1T
falls due in July 1901.
Tn caiten'iarv.
ann grauGed at the excellent report
of the Superintendent of the Penitent'ary.
and the Board Of Managers. IT shows tine
health Of the convicts TO De excellent the
discipline good and The labor profitable.
The government has been kind. and the
tasks allotted reasonable. There are in pri-
son $40: there are fifty additional convicts
0u county roads. making "a total OF about
q. goo. OF these l5S are there for the seconnd
and third terms: the number seems TO i'm
crease from year TO year, showing that the
ponitentiarv is a necessity. The loss OF
liberty win not always restrain the
vicious. and bodily discomfort has no ter
rors for some Nor does education entirely
eradicate the love Of crime.
tNprn~es
The Penitentiary has been a source OF
great expense TO the State in times past
and few are the years when the Treasury
did not contribute to pay, from the taxes
OF the people, the cost Of Keeping up this
institution. 1t does seem little remark
able that the hardy convict who Is incar-
cerated for crimes committed ana COM
demned 10 hard work ana cheap fare"
should not be able by his labors 10 pay
the cost of his Imprisonment. I have en-
to discover where the mis-
was which brought the in-
stitutlon so heavily In debt. when 50 many
others worked with free labor, make I'M
mense sums for their owners. / find on
that it is due I'm great
part to unwise contracts made under the
statute. The ablest hands have been hired
to railroads. but no bonds We're taken
for the payment of their hire: the statute
did not require it, and much money was
lost because of this failure.
The state clothed. fed. guarded and sup
piled the convicts with medical attention
r..lv In, Ia
worthless bonds or naked promises Of the
various companies, which have never
been redeem ed. / determined TO change
this custom. and while the statute did not
require me I'm so many words to take
bond and security, but directed me 20
hire out the convlcts, and put no restric-
tion on my action in this regard, / felt
IL my duty to demand bonds with good
security. payable quarterly. This enables
the officers 10 collect the money when due
The result is that, by collecting closely
what has been made by their labor, large
surplus has been added to the credit
OF the institution, after all expenses have
been betrayed
In 1890 there was paid into the Treasury
Sl8 6s5.lS: In 1891 there was paid into the
Il. easury $36.17O1S; in 1892 there was paid
into the Treasury S43.2G0.OO; i'm 1898 there
was paid into the Treasury S2SG7LE-the
net result Of work done at the Peniten-
,lary during these years.
When We remember the stagnatiOn in
business OF all kinds, the cessation of
work ON the railroads, and the return
IF every convict the report Of the officials
II the institution for the past year is very
gratifying, and / trust that hereafter we
yill make no, less than $4,000 net annually
ma have no occasion TO make appro-
,riations to support this institution