The leader. [volume] (Brookhaven, Miss.) 1895-1905, 1902-01-08
GOVERNORS MESSAGE

Gentlemen of the Senate asi House 0,
Representatives.:
As required by section 122 Of the
State Constitution. I 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
rious departments. and to recommend
for your. consideration such general
measures as l deem necessary and ex-
pedient to 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-
lative 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
ance 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 certainty that
tax money, when judiciously expended
for the comfort, education and general
benefit of the masses, Is not extrava-
gance, but safe and becoming invest
ment by the State.
1t Is pleasing to report, however,
that, Notwithstanding the liberality 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 $500, 100000 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
hitting for your consideration the fol-
lowing careful estimates of the funds
likely to come into the treasury during
the years 1902 and 1908. to wit:
State tax for 1902 and 1903
at 6 mills ..............S2 425 900 90
State tax. privileges. 1902 and
1908, under present law. S25, ZOO 90
Land sales, including Chick
asaw school lands .... 160, 700 90
Fees collected by Secretary Of
State and Auditor $4,000 90
q. s. appropriation A. & NJ ''oo
Colleges. i002 and io0s. $4,000 90
Back taxes collections, 1902
1903 .....-............. $4,000 90
Cash on hand Jan. /, 1902. $4,000 90
Making a grand total for
the TWO years 81 100000 90
1t 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-
coed the above amount, serious embar-
rassment might result to the State.
PAYMENy OF BONDS
The legislature at its session in 1896
(Chapter 34), for the purpose of rails
ing revenue to carry on the State gov
eminent for the fiscal years 1896 and
1897, authorized the issuance of $780,
10000 of 5 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 $500, 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 list, 1901, when the said op-
ton 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 800, to present same on July
list, A. d. 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 &C
crued interest.
Under this call, have the honor to
report that up to the LIST of October,
1901, 1898, 100000 of said bonds were
presented to and eashed by the treas
urer. and that $3,500.O0 thereof have
been paid off and cancelled since Octo-
Der LIST, 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-
tanned 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-
ton through its agents or fiscal CT
ficers, | deemed it wise and to the best
interest of the State to pay them off
and stop the interest of 100000 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 9TH
erwise appropriated by the legislature
or needed for present use.
STATE HOUSE PONDS
Chapter "a 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 sissippi to the
amount of $1,000 100000. to be sold by
him to the highest bidder for cash, at
such times and in such amounts as he
might elect. The further additional
sum of $2.5O0.OO was appropriated by
said act for engraving the said bonds
and advertising the same for sale. BY
section of the said act $40, 100000 was
appropriated with which to pay inter-
est on the State-house bonds aforesaid
for 1900.
/ confess to much pleasure in being
able to report that no part of said
bonds has been prepared or sold, and
consequently there has been no occa-
sion to use the money appropriated for
"a Co.. Al.