The Providence news. (Providence [R.I.]) 1891-1906, 1896-01-13

The state OF Rhode Island Is broke
not dead broke nor bankrupt by any
means but simply short OF cash avails ble
for running expenses in the immeoiate
future. 1t is in the position OF the man
who hasn't the price of breakfast on Sat-
urday morning, but knows that his salary
is coming in the afternoon. There Is,
therefore, just enough OF financial
problem to- make speculation "a TO what
the General Assembly will do interest
ing.
The January session begins one week
from tomorrow and after ths formality of
again passing the Revised Statutes OF 1895
has been gone through with it is very
probable that some financial legislation
will occupy the time and attention of the
members.
Governor Lippitt has made himself
thoroughly familiar with the situation
and 1t is very generally understood that
the most important and most interesting
part OF the message will be relative to the
State treasury. There Is good authority
for the statement that his document il
TO contain some very emphatic recon-
mendations about money matters, but what
IL is will of course be an executive secret
until it is sent to the Senate and House
OF Representatives.
AS before intimated the stringency Is
OF not long duration and is the result of
an unusual number OF special approp ria
tions at The last sefsion aud the fact that
receirts are always slow in coming IN
during the first OF the year.
Fer iDstarce the tax on foreign insur-
ance agents, which is due the first. ..of this
month aud nets the State about s60 600,
is always dragged along and paid in a lit
tie at time without much regard TO the
exact date. On the first Monday in April
the State will receive about $40, 900, more
from the LEGAL insurance companies and
on the 18th of June the first half of the
State tex, amounting TO 1924, 900 will come
into the treasury. The next receipt of
any Importance will be on the first Mon
day in August, when $500 600, estimated,
viii be received from the savings tanks,
and hen in December comes 1924, 900 on
the State tax. These amounts, together
with the 500, 600 which is, approximately,
the States share OF tho liquor licenses,
ard the innumerable small sums that are
paid in from the various sources all
through the year will make Rhode
Islands income FOR 1896 about one and
halt millions of dollars. which is more
than enough TO cover running ex-
penses.n But for the immediate present
something is to he done and the finance
committee will have some linking TO do.
The meeting OF ordinary routine ex-
ponses will not be the only part nor the
easier part OF the work. however. The
State has gone into several very netos-
sary ana worthy enterprises which call for
special appropriations and the funds at
first provided are practically exhausted.
OF the appropriation for a State nrmory
only 300, 900 was available and OF this
s65, 00O has already e1spent for the site
on Cranston street ana, more money Is
wanted now, perhaps another Sl00, O0o
The legislature Is very apt TO hear from
the srmory commission at the coming
session.
Two hundred thousand dcllsrs wero ap-
pI'pil lNf tllc ANVIiHul SNHoNi Nnu so
much more OF this had to go for land
than wss orig inally expcctoc tbst the
larger pert OF the cost OF building aad
furnishing vas left unprovided for and IL
is for the present Assem- bly, 10 incI ,ase be
Appropriated.
The Siste's ouly debt at present il on
the state house bonds OF 81, 800, 900 for
which an interest oi SO per cent is pa i'd
wf11ic tho HTFta receives per cent. on the
ptocceas OF tho bond sales wkich Gro de-
posted with TIE Rhode Island Hospital
Trust Company. The talk that another
bend issue for million dollars for the
state House will BE- necessary this yea is
laughed at by the commissioners On
the contrary, Il has been suggested in