Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-02-20
s7,Sis.211 10 S2,221,(
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THE ESTIMATES ARE SAFE.
Now the Auditor is prepared to de-
Iend these estimates" continued Mr..
Wickham, not, of course, as certain re-
SUITS IN any one year, but as taken
through period OF three. four. or five
years; IN other words he Is prepared to
demonstrate the absolute average correct
ness of his estimates on the plan outlined.
and the experience Of a term of years,
say eight years, within my observation,
has borne out the practical experience
OF this skilled and efficient State officer
Now, Mr.. President / will say that / have
been in close touch with the Auditor ever
since ] became a member of the Finance
Committee; that pending the negotiations
for the settlement of the State debt and
since that time, in the preparation of
the various tax measures and appropria-
ton bills. l have had occasion TO be
guided almost entirely by these estimates
and statements prepared originally by
Auditor Marye l will say that from
the time / had the honor of introducing
the resolution appointing the Virginia
Debt Commission to the present time,
j have based my action-and / believe !
can speak for the commission when /
say II based its action-not upon the COM
pilation made from the various reports
as shown under the headings-tax from
real estate, tax from personal property,
etc.-but absolutely and entirely upon
these estimates and statements Of the
Auditor, which, as / say, close observa-
ton for the past nine years has demon
strated to my mind the absolute correct
ness Of. Not only Is the Auditor en-
titled 10 confidence I'm the correctness or
his figures but ] tell you that as a mem
Der of that Debt Commission, we found
that we could base safe reliance upon the
estimates that he gave US, and / tell you
further, that the State debt Of Virginia
was settled upon just such estimates as
this. You can therefore, with such de-
gree of certainty as the prudent business
man would act upon, adopt as the basis
for your action the annual receipts shown
in the Auditors estimates to be S2yI5,-
3OSS9.
RECEIPTS FROM RAILROADS
you will in all human probability have
much more. 1t is now reasonably certain
that business is surely IL slowly reviving
I'm our cities. You can count with per-
feet certainty upon a decided increase in
your revenues derived from liquor
licenses, table 30, and licenses other than
liquor, table 30. You can also rely with
reasonable certainty upon the increase In
your taxation on the various companies
set out in tables Z, Q. 10, IL, and IL. such
as telegraph. and telephone companies
etc. The railroads put into the Treasury
Of the State, outside Of the salary of the
Railroad Commissioner and the expenses
Of his office, the sum of S2lS.996.30 which
Is over $500 more than for the preceding
year You can safely rely upon a substan-
tal advance. / think, from that source
and l hope you can rely with some de-
gree OF certainty upon a very substantial
increase in your revenues from the col
lateral inheritance tax. SO that while
the Auditors estimate is down practi-
cally to bed rock. and made after dis
carding doubtful and desperate assets,
the reasonable probability is that you
will have for the fiscal years ending Sep
TENDER 90 1895, 1899. and 1890, substan-
tial advance upon the receipts for the
| year ending September 30. 1897. You VIII
note that in the Auditors estimate OF
receipts a number of smaller items are
| absolutely disregarGed, such az the
amount received from the United States
| for the Agricultural and Mechanical Col
lege; costs in Commonwealth cases col
lected; fines collected; printing records,
etc.
THE PARKS BILL
Furthermore, as tending to augment
your revenues. you must bear in mind
that you have passed the Parks bill,
which, 1t is hoped, will add materially
TO the revenue derived from the tax upon
personal property. That You may rea-
sonably expect also better return from
the oyster industry under the provisions
| of the LeCato bill, ana finally you m-sl
bear in mind that you have TO the gene
raj credit Of the account of the Com
| monwealth a balance as OF october l.
1897. of sl93.271.3l, though from this sum
must be taken the desperate asset which
| is still carried upon your books, due
/ from the broken Petersburg bank, which
| still reminds us Of the experience that tilt
| State underwent when the Democratic
| party lost control In 1879. The amount
| lost In that bank is $68l42.3O, so that tns
| free money on hand as of October /, 1891
| available for the general purposes OF the
| Commonwealth, was Sl25.12901. In Other
| words, starting with our balance or SlZ9''
| CO., YOU thus see that you have estimated
| annual revenue based upon the Auditor
| figures of 80 975. 800 50 actual receipt:
| taken from the amounts actually collect
| ed S31S1 255.35 (see page 4 of the 9nnua
report Of the Auditor for year endini
September 80, 1917 with reasonable ex
pectation Of increasing that amount.
Against that charge every single item
Of expense that appears upon the debl
| side of the account; keep your appfo
priations as they are; keep your officers
salaries as they are; pay interest In ful
| as il natures; foster your eleemosynarl
institutions and institutions Of learninl
10 the same extent that you do now CIV
| the Confederate veterans all that the,
| ask for and you are still safely nsln
| the danger-line up 10 the fateful perio'
| when the reassessment of lands take
Mace i'm 1900. / have made this resum
OF your receipts and disbursements--you
estimated revenues and eXpenses-in OF
der that you may understand them, an
that the people may understand them
that YOU and they may understand tina
this state Of Virginia Is not bankrupt
ar ANYTHING like bankrupt; but that
,s cosy I'm its financial condition; that
a. nor I'm any financial stress. IL is you
5utv however. in the interest Of thos
,1eonie who sent you here, in IN
interest OF the agricultural masses, As
have Impressed upon you, In the outse
OF my remarks, TO curtal your eNpehui
lures where they are unnecessary.
~ now take leave 10 present 10 you
statement of the items as expressed II
the appropriation bill or March g. loyo
as compared with the respective items u
. this appropriation bill. as II comes Ir on
vour Committee on Finance, showing IN
scheme OF appropriation recOlnmeAue'
now by your Committee on FINANCE, an
| showing many great reductions IN th
interest OF the tax-ridden people OF lhl
| Commonwealth. exceeding the large sun
| of $4,000 in each year.
| Mr.. Wickham then submitted the state
| nnent printed herewith, giving the appro
priations proposed in this years Dill, u
| comparison with those In the Dill passe'
| nv The last General Assembly, ana, COM
menting on II, said:
while this statement shows TINS agsIe
gate reduction of upwards or Sl0UV, III
1870, tho aatfrnatQ6 reduction In crIml