The Oskaloosa herald., 1900-01-11
SHAW'S MESSAGE.
Able State Paper Delivered to
Legislature To-day.


paper and touches upon every point
at issue in Iowa to-day. In part Mr..
Shaw said:
In obedience TO constitutional re-
quirement, | have the pleasure of sub
uniting to your honorable body the fol-
lowing statements concerning the con-
dition of the State, together with some
recommendations for legislative consid-
Grafton.
Never in our history has labor found
more ready employment or more liberal
remuneration; never has agriculture
generally been more prosperous or
yielded better returns; never has bust
ness been more universally active or
reasonable profits for invested capital
more secure; and never were the fl
nances of the state in more satisfac-
tory condition than at the present hour.
STATE FINANCES.
AT the bioinning of the last fiscal
term, there were unpaid warrants OUT
standing to the amount of SAL, 5oo.73.
AT the same time there was cash in the
treasury $36,672.o6, leaving the net in
debtedness of the state $4IoS27.77. OF
the outstanding warrants the sum of
S363,S34.S4 was drawing interest, the &C
crued amount of which at the same time
Increased this Indebtedness by an un-
ascertained sum Moreover. there re-
manned of special appropriations made
by the Twenty-sixth and former Gen
eral Assemblies the following amount,
against which warrants had, not yet
been drawn: $3oS,437.6I. There was,
therefore, to be paid out of the revenues
of the then succeeding term $7Io,265. SO,
besides the interest on the outstanding
warrants, in addition to the ordinary
expenses of the biennial period and the
extraordinary expenditures that the
Twenty seventh General Assembly might
authorize
II is gratifying to know that the judi
cious provisions made by the Twenty
sixth and Twenty General As
semblies, for the increase of public
revenues on the one hand, and the re-
duction of expenditures on the other,
enabled the state to meet all its obliga-
ions, past and current and TO accumu-
late in the treasury at the end of the
fiscal term under review, a surplus of
S4I4.2o4.o2 over and above all outstand
in gwarrants. subject, however, to the
vet unexpended appropriations of the
Twenty seventh and earlier General As
senlblies OF these, less than 100000
remained undrawn at the end of the
fiscal term With these amounts all
expended. there will remain fully
$4,000 to meet the expenditures of the
current term.
The auditor of state estimates the re-
CENTS OF the current term at S4, so, 200.
and the expenditures without anv special
appropriations made by the Twenty
eighth General Assembly at S3,S77,423;
giving surplus of receipts for the cur
rent term of $o86,777 Adding to this
sum the balance of 100000 cash in the
treasury at the end of the fiscal term
in excess Of outstanding demands and
undraWn appropriations, gives fully
$I,2oo,oco, which this General Assembly
can safely appropriate for special pur-
poses. The above estimate assumes
that the annual levy will be continued
at the present rate. | believe, however,
this can be reduced TO at most tw oand
one-half mills for general revenue, and
three-tenths of mill special levy for
purposes of higher education, making
an aggregate of two and eight-tenths
mills as against even three mills at
present In view of the constantly in
cTeasing expenses of the state, incident
to a rapidly growing population, and
multiplying number of wards OF the
state, coupled with a noticeable reduc-
ton in the aggregate assessments, the
rate suggested is quite low-very con
siderably lower than III most states OF
the Union.
IOWA BANKS.
Iowa IS exceedingly fortunate in her
banking interests She has more banks
than any other State in the Union, and
the condition of these institutions is very
encouraging. A the date of reports OF
incorporated banks nearest the first OF
Octoer. 1907, the bank deposits OF
Iowa were as follows:
State and savings banks 5 5o,4oI, 525.oI
National banks ..-.. 27,5o2, 3oI,25
Private banks (estimated)' 25,ooooooo
Total ... .SIo2,o o3 .S2o.8o
At the date of their last reports, the
deposits were as follows:
State and savings banks 5 SI,476,791o2
National banks 49,. 80. 42,23o,7oo.lo
Private banks (estimated) 4o,ooo,ooooo
Total - .... .$Io37I5,5ooo5
An increase OF S. per cent in two
years
OF the more than $IIoooo,oo held by
the national, state and private banks, IN
vestigation convinced me that certainly
over one-half was owned by farmers;
and the S5I 600, 900 on deposit IN savings
banks is held almost exclusively by wage
earners and people of limited income.
Internationally the proportion OF unln-
numbered farms in the state exceeds
that of any other period. In ADDITION
the value of all agricultural dandss and
OF farm animals has very materially
appreciated within the last few years,
finder these favorable conditions,
think the Twenty eighth General As
senbly will be justified in making some
more liberal appropriations than in tor,
mer wears. Great care, however, should
he exercised. for il must be borne IN
mind that il is easier for state, as Wen
as for an individual, to incur Liability
than to discharge one.
The ever-present temptation to plan
only for today, and to build temporary
sheds where permanent structures are
needed. should so far as possible be re-
pressed. Iowa will appear on the map
OF the world forever, and her popuiation
will multiply with the years. Wise
planning for the future distinguishes the
statesman from the mere politician.
think therefore, in expending the some
What more than million dollars now
or soon TO be available, at least a por-
ton should be so placed as to furnish
enduring evidences of your wisdom.
BOARD OF CONTROL.
The Twenty seventh General AS.
semblv made provision for board OF
control. which, for nearly two years, has
had the management of all our state IN
stitutions, excepting those purely edu,
cational. The policy thus inaugnrated
has resulted in very considerable saw
mo TO the state, and in addition the SER
Wee al most OF the institutions, ! am