The Banner-Democrat. [volume] (Lake Providence, East Carroll Parish, La.) 1892-current, 1895-11-23
Plain Statement of State Finances

sided State campaign, 1t seems
for us TO consider, IN
yery plain unbiased way, the fnan-
cial fruits of the present admlnis-
tration.
We shall indulge in no argu-
ments intended TO have effect III be-
half of this administration but mere
ly for the enlightenment of those IN
terested IN the matter of the States
management of its business affairs
and the results OF this management
for the last four J ears.
We will give the facts from the
best authorities at hand. 1t may
be we'll to know the method by
which our public revenues are de-
rived and the manner of the dlstri-
button of this revenue. The total
State assessment is about two-hun-
dred and fifty millions, the rate be-
ing six mills and yielding one and a
half million dollars gross, dlstribu-
ted and divided as follows: One
mill goes to the General Fund as
we'll as license monies, out OF which
the ordinary expenses OF the GOV
eminent are paid, including the sup
port of our public and charitable IN
stitutions; one and one quarter mills
goes to our public schools; two and
three quarters to meet the interest
ON the public debt and one mill to
levees. Under previous admins
trations, the bank or what is known
and called the Fiscal Agent, where
the State deposits its money, paid
nothing for the privilege and
charged the State from three to i've
/ per cent for all monies advanced III
taking up and carrying the January
and July coupons until such time as
the taxes for the year in which the
| coupons we're due were turned into
the Treasury the interest acerulng
| in any one year being paid out OF
: the taxes of that year, although the
Fiscal Agent had in its possession
! all other monies belonging to the
State including that belonging TO
the several Levee Boards.
Under the present admlnistra-
ton, the Fiscal Agent pays $4,000
annually for the privilege of acting
as the States depository and
$ charges nothing for money advanced
in carrying the Coupons. The
average cost.of interest charges iol
merly was something over $4,000 SC
that we start off with net annua
saving to the credit of the present
administrator Of at least 1000
! There we're some $3.50, 900 o
General Fund warrants against th'
revenues of 1885 and 1886 outstand
ing and unprovided for, which ha
/ been retired and there were past du'
n coupons, payable out of the revenue
9 of 1878 and previous aggregatlnl
u some aS4s5, 900 thai have beel
i retired or provided fol-, while s5l2,
!, 600 of interest bearing bonds hav
a been bought up and within the mex
e fifteen days 100000 more will b
e likewise bought and cancelled
IL aggregatlng s7ls, 900, thus saving i
IS annual interest on these two item
sr alone s2s, $50.
p This administration has not mad
7. dollar of debt. Everything frol
O. start to finish, has been upon cas-
4. basis and with the same promptnes
"a and accuracy as obtains In the frs
ne private banking or business instit'
e. tons in the land.
y There is not outstanding an
1e floating Indebtedness created sine
sd 1880. But while all this is BEN
Sc done, no institution, ward or publ
ed concern of the State has been stintet
Is cramped or pinched to save expense
Every one of them has been mo-
n generously treated, been enlarge
y and improved and received mo-
ne money than before.
er The State allowance to publ
Is schools has been increased to Il
" full extent of one eighth of nj
On and every public and charitable |
M stitution has thrived and prospere'
IL Now let us recapitulate Il
q figures.
=. Retired or provided for
:! past due coupons SASS, Oh
~ Warrants of 1885 and 1886
- taken ups. ....s.s. -. o5o,V'
:. Interest bearing bonds re-
~ tired. .....-. fl2,o'
=. $l,527,0
ar. Not including the saving of s6t
nd 600 through better terms with t
Id Fiscal Agent for four years and t
CO. interest on the bonds retired. viii
ter would he at the end of the prese
we administration $50, 900. The int
AN est saved on the bonds retired W
,od aggregate in the time they had
I'D run over half million dollars.
he We submit that with the foreg
az ing showing Louisiana State Bon
M should be at a good premium
,sf stead Of merely at par as they n,
yarl are practically, and they certain
LII e -. <vaaIlo.,t cf.aditiou a