Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1897-02-18
Madison, Feb. ID,

message TO .h9 leslS azure anu IL Was
read in both houses:
There is no reason Why the financial
condition of the state may not be as
clearly and definitely ascertained al
any time as may the status or con-
dition of the business OF a private co.
poration or private individual; anu
besides, exact knowledge by the leg
islature of the condition of the treas
ury is ndispaL sable t. a wise and eco
lumical exercise OF the power of max
ing appropriations, said the gov
ernor.
The Legislature has provided for the
levy of specific taxes each year Tor
the support Of the public schools, the
normal schools and the university; but
the general expenses Of the sta,e gov
erument are paid from what is known
III the reports IS the general fund.
This fund consists Ell The money re
ccived lrQC railroad license fees fees
collected from insurance companies,
from streel railway companies and OF
other payments in the state treasury
Ct Il similar character. These receipts
by the general fund and the disburs2
ments from The sane for The five Years
ending september 80. 1896, were us
follows, by years: September so, 1892,
receipts, 81, ClG,724.0G; disbursement
S1,413, PSI 81. September 80, 1898, re.
ceipts, $l,GO9, S14.Si; Disbursements,
$I,7S6, so. SO. September 30, 1891, re-
> A. ~, NO,
$1,71l $3.50 "a. September 80, 1895, re
ceipts, $l,7SS,So9 81 disbursements,
2,729, 506 rs. September 80, 1896, re-
ceipts, $2,12l,567 81; disbursements,
81, $40. 81. 1t should be explained
that the fiscal year OF the state ends
September 80, and OIL that date, In 1896,
there was balance III the general fund
Of $40, S15 IS. AS was shown by a re-
port to me from tee state treasurer
made Jan. 2, there was, on Dec. SIS
last, three months after the close
of the fiscal year, apparently cash on
hand to the amount OF SIS, l40. 90. But
there had beal advance to the state
treasurer On the 18Th of Nov, 1896, by
The Chicago, Milwaukee & st. Paul
Railway company, $4,000; on the 9th
day of Nov, by the same company, $50
0O0 on the ID Of December, by the Chi
cago, St Paul, Minneapolis & Omaha
company, $4,000; on December 10. by
the Chicago 4 Northwestern company,
100000, making a tOta. OF $25O,000 Of
moneys not 'lue from these companies
until the 10th OF Feb, 1897. 1t is oh
vuus thai if The Hallway companies hal
not been so situated in the present fl
uancal depression that they could id
vance to the state the sum of $250,00O,
instead of there being on hand Dec 81,
1896, $8,140 49, there would have been
du actual deficit Of Sal 800 81. Nor
is this all On the first day of Jan,
1897, it became necessary to meet obi
cations then due to oyerdraW the
states account at one of the banks TO
the amount of $lo2,00G, upon which
oyerdraft interest was paid by an ar
rangement to lea or deposit for a
time when practicable a sum belonging
to the state, without interest. It is
plain 10 be seen from this statement
Ihthl W hllS NliC oNilSi ttl LhAN "tN4' StA NAiN
%lst of Dec. apparently solvent, it was,
in fact, not only exhausted, but in debt
over 100000. How often this fund
has been kept good by bank oyerdrafts,
if at all, or by advances obtained from
the railway license funds, | have not
yet ascertaincd, nor is it now impor-
Lant. This statement is made solely
upon the theory tnas the people are en-
titled to know at all times the exact
condition of .heir OWL finacial affairs.
1t is manifest that the $250,000 al
yanced by the railway companies, ana
the 100000 advanced by the bank to
make good deficits for 1896, will be
needed for the same purpose at the end
of 1897 1t has seemed to me that
every principle Of public policy re-
quires that the finances of the state
should be placed nov upon different
basis. 1t is rot believed that the peo-
pie of Wisconsin are willing that they
shall owe from year to year the protec-
tion OF their treasury from insolvency
to the accommodating disposition NJ
either the railroads or the banks. If
the railway companies could not, OF
would not, advance, and if a condition
Of panic Fnndered il impossible to over
draw at the banks, the credit of the
state might easily be imperiIed
Nothing is clearer than that the franz
ers of the constitution intended that
state officials should not be permitted
:nder any circumstai ces OF their own
motion to involve the state in any in
1ebtedness. The rover of taxation
with which the legislature is clothed,
was intended to render unnecessary
the borrowing Of money for the ordin
airy purposes of the state.
After going into the constitutions
limitations relative TO the state Dor.
rowing and taxing, the governor con-
GUIDED:
Authority should be given under
lis constitutional provision for the
proper state officer to levy the
annual state tax for the main
tenance Of the general fund, in