The Bolivar bulletin. (Bolivar, Tenn.) 1888-1946, 1894-01-26


concur with Comptoller Har-
ris in his opinion that the
States surplus revenue will
be sufficient to meet the de-
mands OF the penitentiary act,
and will not, therefore, call
an extra session of the legis-
lature for the purpose Of re-
pealing the penitentiary bond
act, or in other words the act
authorizing the issuance of
bonds for thepurpose ofbuild-
ing a new penitentiary. The
comptroller estimated that
there would be q surplus of
$40, 900 in the treasury on
the 1st of last month, where
as Gov. Turney estimates the
surplus at that date to. be
$14S,000 or nearly 100000
less. An extra session would
necessarily add several thous-
and dollars to the states ex-
penses. The following are
some of the reasons given by
the governor for opposing the
assembling of the legislature
"a close and accurate calculation
OF the receipts and disbuTSem rnts
daring 1894. based oR IhOSe OF 1898.
sill leave . surplus Of not more than
Sl48.000 in the Treasury. Jan. /,
1895. lax aPsesSors have just com
menced their work. What vie We
they may have of values in consider
Atit.n Of the financial distress IF The
country cannot be fureseen. and their
estimates of values may be overhAuled
and further reduced by D3ards Of
ESuslizatiOn, so that estimates made
now are not IN be relied ON. Poni
tentiariss cAnnel 10 built GA estimates
on paper. Such estimate, may hs
upset at any moment, even il based
on strictly accurate figures. Out
breaks, rebelliOns aud nther lawiess-
ness and epidemics may pnt in their
appearance at the Trea> ury Depart
ment al any time, and must be met
regard 'eps Of speculative calculations.
1.-The Legislature Is to meet nsxt
January. It's expenses and extra
appropriation may be safely set
down mt mol less than $50, 900. An
extra session Of the Legislature, though
confined TO the one subject, over
which GO much time was conSumed
la regular session, would occupy all
of the jwenty days allowed Anl in
sll rrobs bility result iD me- good, viii
The COST, Including mileage per diem,
e,c., of at least $40, 900, which wOuli
ne better expended in payment nj
the State debt But If estimates on
the faith of which il Is suggested To
call The legislature should prove to
be- all that IN Claimed, still il will Be-
economy t0 sell the Al per cent.
bonds and invest the $40 600 surplus
ia The oul standii.E 6 .rer cest. oondS
hich the comptroller 10 authnriz-i
g. call Ia when tn. re is surplus ia
lie Treasury, ana thus save II per
,er'. o. The mt r~st we pay semi
anuualls un such bonds.
1T I were entirety satisfied the
surplus would eegtain'y be tie abrve
amount, SILT | womi dsG!ine O., Ga
al eXirs SESSION ln mD,.'s. the p NJ
teBtiar, act, because 1 k.rnS it t. .
my duty AMI the duiv u' ever nffiGia'
10 uss ali effurIs u ~ every cen
pa, Die for the NtaGe 10 supposed
sHFr rs Invested ~ ser esDt. b.s.is
oul,i reduce the annual interest pn
The State debt by about IS 600. I'll
we make sale eli the peuitentiary
bonds and inses the supposed sur
PIN. .s indicated. IL will amount 81
exchanging A per cent. for Q per
cent. bonds.
The State II now getting Its head |
aoove water, and Rn chances shoul.i |
he taken ON theories, estimates "r
contingencies to mar Its prospects
We can be in no worse 6K on Jan. ],
1895, by failure TO appropriate nny
surplus 10 penitentiary purposes.
even Ihaugh We fail Ia place the
honda. as Ihe legislature aud that
surplus will ooms 10 the capital at
the same time. when tbs desired Leg
islatiOD ma be had If needfuI."