Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1894-01-14
HAS NO STATE DEBT.
That Il what Governor MeCorkIe Says
About West Virginia.

In regard 10 a recently published state
ment to the effect that the state debt
OF West Virginia was SiN.5li, which sum
had grown from Ns.Gl IN ten years,
Governor McCorkle writes the Baltimore
sun as follows:
This Is an entire mistake and does IN
Justice to the State not only by making
IL appear that We have debt. but that u
IS surely growing. The State does not
owe a cent OF debt The makers Of our
Constitution. taking wise counsel from the
experience of Virginia. placed In that IN
strument a provision making IT impOssl-
biz, 10 create any State debt This was
intended 70 put II utterly out Of the power
Of the Legislature TO impose continuing
burdens on the people. Time has shown
the wisdom OF this course.
This care on the part OF the Jaw.
makers that the people Of the state Sh1uii
not be- overburdened with bonded state
debt has not alone been confined 10 the
state proper but around the counties ana
municipalities has been placed nearly
every possible safeguard. our Law pro-
vides that II any county or district wishes
10 create any Indebtedness for any pubhc
improvement the County Court must hrSt
approve il and submit It regularly 10 an
election by the people at which election
il must be- carried by not less than three
hfths Of the qualified voters. ana SAID
debt must not amount To more than ,
per cent OF the taxed values OF the
county. 50 with municipalities. After the
council has approved Il the people must
pass ON Il. and III must be- carried by a
thrce-ffths vote.
In city Of more than 300 inhabitants
the rate OF taxation shall not exceed z
per contum on the assessed value OF the
property for state purposes a CITY OF
more than 10000 and less than D.wo not
exceeding 81 30 on the $40: city of NOR"
than 300 and less than 1000 the tax
shall not exceed 81 - on the 500
In addition % this the law IL impefa-
tive. that sinking fund must be created
10 pay OH Il bonded debt thus created
So YOU see every possible precaution haS
been taken 10 prevent the people from
being overburdencd with bonded dent
or with a great annual burden or taxes.
Not only do We have no debt but the
irreducable and interest bearing school
fund Of our State Is $4,000. our state
taN-rate Is only a little over - cents or
the 500 our wealth increased from <w'.-
ooo.O00 in 1850 to sl65 100000 in 1899. our
railroad mileage increased from b9l miles
In 1880 to LOO miles in 1870. In I'M We
produced l. i0tO0O tons OF coal; IN lS33 we
produced 6.717. $50 tons.
In 1893. notwithstanding IL was such A
hard year. our coal production was lpsZN, =
g2D tons. an increase over 1892 ~ 22lSO32
t0ns-over % per cent In l%2 We en-
ployed gSN inside mine-workers, ana IN
iSq3 We employed lilo In lSo We had
completed ~ coke ovens. I'm lSs2 We had
completed &. 40 ovens. In 1893 We had COM
pleted 6.S2j ovens. an Increase OF l,31 over
lS92 I'm addition to this We have under
process of construction LIZ coke ovens.
We added last year eleven new COAL opera
tious to our list.
"Our county and municipal Indebtedness
| together only amounts 10 about one halt
of per cent OF the value 81 our wealth.
Fully one-half of this county and mun'-
! cipal Indebtedness has been Incurred IN
| tie building OF railroads. which have had
| for their object the development OF virgin
| territory.
..Thls statement has added force when
we consider that all the paraphernalia OF
a new State has been created We have
! constructed a magnificent capitol build
| ING. penitrutlary. deaf dumb ana blind
! ASYLUM. almost wholly construct
/ ~ an insane asylum and wholly con
! struCted another one. Our normal school
| system Is magnificent. All OF these schools
are IN splendid buildings. All Of TINS
| without any bonded debt OF adding ont
dollar 20 the burdens Of the taxpayer
| our taxes are low and our progress Is
unprecedented IN the history of the states
In addition to this the citizens OF oui
State have within the last five years re-
! duced the average per capita OF their IN
| d-btadues. 10 the tXtent Of az least u
Der cent. and al no time in the last Ter
| years has the average increase OF pei
| caplta indebtedness kept pace with m
average pr capita Increase Oh the "eSi'
- tb, citizens OF the STATE. Ny obserya
tion is that this is an almost unprece
d,uted showing"