Republican news item. [volume] (Laport, Pa.) 1896-19??, 1900-10-04

Millions of Dollars Is Changed to
n Surplus of Two Millions, and the
Full Appropriation of S5,OOO,OOO
For the Public Schools Can Now
be Met.
Especial Correspondence.)
Harrisburg, Oct. 2.-Governor Stone
has completely taken the wind out OF
the sails of his critics, the Democrats
and their tnsurgent allies, by public
announcement that in view of the
present condition of the state finances
he proposes to recommend to the leg
islature which meets in January that a
deficiency bill be passed, so as to per-
NIT the payment in full of the COM
plste appropriation of $4,000, 900 for the
public schools.
1t will be recalled that at the close
of the last session of the legislature
Governor Stone was informed that
there would be deficiency of about
$3,000,000 in the state treasury, owing
to the failure of the legislature to pass
certain revenue raising bills which he
had recommended in order that the
expenses of the state might be met.
The combination between the Republi-
can insurgents and the Democrats in
the house defeated all the bills which
Governor Stone and other influential
Republicans proposed for the raising
of revenue. The defeating of these
bills and the passage of many measures
involving large expenditures of money
resulted in a condition of affairs which
involved the financial credit Of the
commonwealth. Governor Stone de-
cided that the state must not under
take to pay more than it's revenues
would meet, and he accordingly cut
down a number Of appropriations and
decided that the state could not pay
the full amount appropriated for the
schools until the revenues would JUS
tify that. With Governor Stones CO.
operation, Attorney General Elkin and
Auditor General McCauley at once
went to work to collect monies due the
state from delinquent corporations and
others, and the success which has
crowned their efforts has been marvel
Gus.
Governor Stone was criticized by
partisan opponents for his action re-
garding the school appropriation, but
he believed that the people who were
familiar with the situation, and had
pride in the financial honor and in
tegrity of the state, appreciated that
his action was for the best Since the
raising of the money by the diligence
of the states officers great deficit
has been wiped out, and there is now
an immense surplus, which will meet
all the demands of the schools without
any default.
Governor Stone has made public the
correspondence between himself and
State Treasurer Barnett, which is self
explanatory.
STONE LED THE WAY.
Governor Stone, in letter address,
ed to State Treasurer Barnett, on Sept
IL, 1900, wrote
Sir: Will you please give me the
following information:
First-How much has the revenue
for the years 1899 and 1900 exceeded
the estimate made by your predecessor,
and the auditor general, at the begin
ming OF the fiscal year 1899?
Second-From what sources has this
increased revenue been received?
Third-What portion of the unfund-
ed Indebtedness Of the state remains
unpaid?
Fourth--What is the amount of cash
now in the state treasury available for
the payment of current bills?
Fifth-What amount of available
cash do you estimate will remain in the
treasury at the end of the present
fiscal year, after providing for the pay
ment of all the moneys then due?
In reply to this letter from the gov
ernor Treasurer Barnett, on the same
date, sent a communication to the ex-
ecutive which read:
have the honor to give you the fol-
lowing information in response to your
request Of today:
First-The receipts for the fiscal
year 1899 exceeded the estimate made
at the beginning of that year about
$500, 900.
The receipts for the present year up
to and including today, and the approx
innate receipts for the balance Of the
year will exceed the estimate by about
$3.50 900, making a total of 81, ,489, 900
of revenue received in excess OF the
estimates.
Second-This increase of revenue
was received from the following
sources:
For the fiscal year 1S99
Tax on capital stock of cor
porations ................. s575. 900
Tax on gross receipts of cor
pOrations s................. $4,000
Premius on foreign insur-
ance companies ......... $4,000
Tax on corporate loans. $50. 100000
Bonus on charters. .......... $4,000
7 Total 81 ,f97. 900
Less O decrease on the following
taxes:
A<ouu tSsVVV
Bank stock ................. $4,000
Municipal loans ............ 10000
Writs .................... 5000
Mercantile licenses ........ 100, 900
Interest on state deposits, -. $4,000
Total y293.OO0
haiunce .................. tSUs,VVV
For the fiscal year 1900 (estimated
Tor the last two aud one-half monthsl: