The Canton times., 1903-10-16


1902, and y 2, 1908, respec-
lively. The IL t embraces every
detail of the StaHe's financial trans
actions.
During the past two years, be-
cause of the expense of building the
new capitol, the disbursements have
been greater than the current re-
ceipts. The receipts for the fiscal
year 1902 were $1,911, ,O19.33 and
the disbursements for the same pc
riod were $2,479.3O7.74, the latter
being in excess to the amount of
$568,288.41. Of this amount, how
ever, there was expended ON the new
statehouse 1886, ,323.44, the largest
single item of expense excepting the
school distribution.
The fiscal year of 1908 was begun
with cash on hand of $3.50, ,165.45.
The receipts during this period were
So, 1856, ,927.O5, and the disburse-
ments were $2,62O, O,666.89, the ex-
cess of the latter being $234,739.84.
During this year the sum of $780,
364.73 was expended on the new
capitol.
The excess of disbursements over
receipts for the two years is $685.
O28.25. This does not, however,
represent a deficit, as at the begin
ming of the two years there was
nearly a million in the treasury.
The chief sources of revenue for
the State are State, privilege and
back taxes. Following are the fig
ures for each of these items for 1902 ::
State, $1,267, ,677.8O; privilege,
$4O2,O27.3O; back tax recoveries,
$85, ,693.92. For 1908: State, ST.
374,O52.63; privilege, 1881, ,667.84 /;
back taxes, $145,786.62. The rest
of the revenue is chiefly made up of
land sales, insurance taxes and fees.
Outside of the appropriations for
the current expenses of the State
government and institutions, the
chief disbursements have been for
the new capitol and permanent i'm
provements in the way of additional
buildings for the State institutions.
The report is especially interest
ing insofar as it deals with the peni-
tertiary fiscal affairs for the past two
years. Previously that institution
had its separate fund, and managed
its business Independently. The last
legislature decided that it should be
supported like the others by gener-
al appropriation and the receipts
from it should be turned into the
general fund. The institution dur
ing the past two years, in addition
to sums expended on the new plan
tation in Sunfower county, now a
very valuable property, has made the
sum of $71 ,244.9O. The amount
paid into the treasury from this
source for 1902 was $131, ,563.34
and the disbursements were $780,
282.29. For 1908 the receipts and
payments into the treasury were
$244,558.67 and the disbursements
$196,494.12.
The oyster fund, new fund insti-
tuted with the passage Of the ''oys-
ter" law, shows receipts for two
years \of 15,920.45 and disburse-
ements of $11, ,86O.53.
The appropriation of $4,000 fol
the St. Louis Exposition is still com.
paratively intact, only $822.79 hav
ing been withdrawn.
Treasurer hampton will make only
one recommendation of moment IL
his annual report. He will call at
tention strongly to the necessity fol
a State depository law. He claims
that this plan will accomplish thu
following: Minimize State risk
keep money in circulation; relieve
the State of great expense !; earn an
nually several thousand dollars in
terest; provide a system of check
for detection of errors and proven
ton of errors; facilitate tax collect
ors' settlements; provide a bette
system for disbursing funds; pre-
vent spectators from discountin!
warrants of needy pensioners; avoic
great risk in handling and counting
daily large amounts of cash; provid
a modern improved system of doinl
business; enlist Mississippi's treas
ury policy in the roll of the popula
majority, and reflect credit on th
legislature.