The Scranton chronicle. (Scranton, Miss.) 1897-19??, 1902-01-18

As required by section 122 OF the
State Constitution, | have the honor TO
/ present a condensed summary OF the
/ status OF affairs OF the State govern
ment. and of the operations OF its va
rlous departments, and TO recommend
for your consideration such general
measures as | deem necessary and ex.
| pedient 10 the progress and welfare Of
the government the business interests
of the State and the needs OF the peo-
pie. so far as such come within legis-
latiye jurisdiction.
FINANCE.
The legislature OF two years ago
seems to have marked the parting OF
the ways" between an old and a new
sentiment of governmental liberality.
Your honorable body at that session
was liberal above all your predeces-
sors. for many years at least. in the
appropriation of funds for the assist
snee and maintenance OF tue State in
stitutions and the proper objects for
State aid.
1t has been gratifying to note also
that the spirit of progress and lib
erality manifested by you has been
heartily approved by the people, who
have come to know OF a certainty that
tax money, when judiciously expended
for the comfort, education and general
benefit OF the masses, Is not extrava-
ganee. but a safe and becoming invest
ment by the State.
1t is pleasing TO report, however,
that. notwithstanding the liherality OF
| your said appropriations, and the re-
| duction by you of one-half mill OF the
| State tax levy. sufficient funds came
into the treasury from the various
| sources of the State to meet all cur
rent expenditures required, and with
which to pay off also s400.000.00 OF
five per cent interest bearing bonds,
and to defray all the expenses to date
incurred in the building of the new
State-house. without the sale of bonds
provided for by the act authorizing
the erection of a new capitol.
direct your attention to the reports
of the Auditor and State Treasurer for
detailed statements of the moneys re-
ceived and disbursed by the State dur
ing the two preceding years.
In the hope of furnishing some sug-
gestions for your guidance in making
appropriations of money at the pres
ent session, | take the liberty of sub
mitting for your consideration the fol
lowing careful estimates of the funds
likely to come into the treasury during
the years 1902 and 1903. to wit:
State tax for 1902 and 1908 -.
at mills $500. s+.. .S-'A%JfVVO w
State tax, privileges, 1902 and
1908 under present law. SO, 900 90
Land sales. including Chick
asaw school lands ......- 100000 90
Fees collected by Secretary OF
state and Auditor -. 25.ooo OO
| Penitentary ............. $4,000 0O
L. s appropriation A. & NJ
Colleges, i9o2 and 1908 10000 0c
and 1903 .......'.......s. 100000 oC
1903 ................... $50 600 90
Cash on hand Jan. 1, 1902 o.. $4,000 90
Making grand total for
the two years ........... S4.9OO.OOO 90
it will be borne in mind that these
amounts are estimated but are be-
lieved to be approximately correct,
and | beg to admonish that should the
appropriations made at this session ex-
ceed the above amount, serious embar-
rassment might result to the State.
PAYMENr OF BONDS.
The legislature at its session in 1896
lChapter 34), for the purpose of rails
ing revenue to carry on the State gov
ernment for the fiscal years 1896 and
1897, authorized the issuance Of $4O0-
100000 of per cent bonds, payable in
ten years. with the option given the
State to redeem or pay off same in five
years from their issuance, and in per
suance thereof and in accordance with
the provision of said Act, there were
issued and sold on the first day of
July, 1896. said $400. 100000 Of bonds.
By section of the Act, the credit OF
the State of Mississippi was pledged
to the punctual payment. both of
principal and interest, of said bonds
and at the expiration Of five years the
State was given the option to pay of
and retire any or all of them.
On July 1st, 1901, when the said op-
tion matured. as the agent and repre-
sentative of the State in the premises,
| published proclamation giving no
tice to all holders of said Mississippi
State Bonds, series 3D." numbered
from l to 500 to present same on July
1st, A. ID. 1901. to the treasurer of the
State of Mississippi at his Office in the
Capitol. in the City of Jackson. Missis-
sippi. for payment in full, with ac-
crued interest.
Under this call, have the honor to
report that up to the ist Of October,
1901, 1898, 100000 OF said bonds we're
presented to and cashed by the treas
urer and that s3.50000 thereof have
been paid off and cancelled since Octo-
Der 1st, aforesaid. including all ac-
crued interest on the bonds thus taken
up.
The law governing the whole subject
matter relative to said bonds Is con-
tained in the said Act Of 1896, and be-
ing of opinion that there was no con-
stitutional or statutory inhibition to
prevent the States exercise Of the op-
tion through its agents or fiscal CT
fcers, | deemed II wise and to the best
interest of the State to pay them of
and stop the interest of $20,000.O0 per
annum. Especially did this course
seem proper in view of the fact that
there was ample idle money in the
treasury to cover said bonds. not OH
erWise appropriated by the legislature
or needed for present use.
STATE HOUSE PONDS.
Chapter 81 of the Acts OF the legis-
lature OF A. d. 1900 authorized the Gov
ernor to have prepared a series OF
thirty year, four per cent interest
bonds of the State of Mississippi to the
amount of $1,000. 10000. 10 be sold Dy
him to the highest bidder for cash, at
such times and in such amounts as he
might elect. The further additional
sum OF $2,500.00 was appropriated by
said act for engraving the said bonds
and advertising the same for sale. By
section 6 of the said act $40, 10000 was