The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1899-03-15
STATE TREASURER.
Makes an Important Statement
Concerning Appropriations.

Problem How to Meet them For The
Second Year-Fuii Treasury and no
/ Debt, but an Unprecedented Draft
Provided, without Increased Reye-
nues, May cause Deficit Before Next
Legislature Treasurer Kendall
Thinks the Public Shonld Know the
Exact Situation From His Standpoint
at this Time-Has Hopes That Re-
eeipts May Show up-His Sympathies
With the Harassed Legislator.
State Treasurer Kendall has discov-
cred that the appropriations made by
| the recent legislature exceed the
amount of available money in the
treasury. According to his ealcula-
lions, the beginning of the next fiscal
year will find the state facing an APP
preparation of $1,000,000, with a
/ treasury almost empty He says there
will be deficit and the state will
have to borrow money TO meet it. In
the following interview Mr.. Kendall
goes into the condition of the states
finances, ending up by explaining how
the deficitwill arise.
What do you think of the appro-
priation bill?n he was asked
81 think it's big. was the reply
s.It carries $3.50, 900 more than any
ether appropriation bill that was ever
/ passed in the history Of the state.
''How does 1t compare with the one
passed two years ago?"
That's the one with which | nave
compared it, since that was bigger
than any of its predecessors, but that
bill. including the 1921, 900 appropri-
ated to pay deficiencies, only amount.
ed to 81, 1892, S92. This one appropri-
ates s2,033, 900 from the state fund
alone, and to this must be added the
blanket appropriation to cover the ex-
pense of re-assessing the real estate OF
the state, which is estimated at any
where from $50, 900 to $50, 900. And
it must be remembered that this enor-
nous sum was appropriated to pay
/ fixed charges and to promote new en-
terprises; for with the exception of
the military deficiency caused by the
late war, there were comparatively
few deficiencies to provide for.
"Well, will you be able to meet
these enormous drafts?n
"That,s the problem I'm sweating
over just now. Personally, believe
| in surplus, but the recent session of
the legislature seems to have prefer
1 rad n doHpif nd fhau cl In rod
that way"
I'm what way did it legislate for a
deficit?"
The auditor furnished carefully
prepared estimate of the receipts for
the next biennial period, and accord
ing to his figures they will amount to
81, 444, 900. That, added to the $780,
900 surplus. makes $l,S44, 900; and
against this goes an appropriation of
over $1,000, 900. So there. you are
subtract $2,05o, 900 from 81, s44, 900,
and see what you have left
STILL HOPING.
when will this deficit occur"
mot for some time yet, owing to
the condition of the treasury. | am
still hoping that we can manage to
worm through and escape it altogether
but / can't make the figures show it
that way. We are all right, however,
fer this fiscal year.
''But at the beginning of the next
fiscal year we will have TO face an APP
preparation approximating 81, 900, 000
with treasury almost empty. The
appropriations will become available
before the resources of the year can be
commanded, and these resources can
not possibly equal the appropriation,
even when they are well collected"
''What will then occur?"
NO REVENUE MEASURES.
"a deflcit-and we will be compell-
ed to borrow money to meet it. This
is the situation in which we have
been placed, and 81 far as l am con-
cerDed, propose that the public shall
be fully advised in regard to it,"
Were there no revenue measures
passed during the last session."
mot one; there were only two in
troduced; they both passed the senate,
Lbb VCJC hillCu III UllC HOucc. uty
were senate bill No. 10, taxing all do
nestle corporations that have been
managing to escape equitable taxa
tion, and senate bill No. 1874, remov-
ing the $4,000, 900 limit from foreign
corporations and taxing them on their
capital stock. This bill would have
unquestionably produced considerable
revenue, and personally, 1 cannot see
any objection to it. But when it
came up for consideration in the house
some one yelled trusts" and that
settled it,"
- go
,ss n 90