The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1903-03-08
SUNDAY, MARCH. $, 1908.
!. STATE FINANCES.

$it TWO days ago We 6Callcu go
III tho s.ttect Of State finances and showed ''s'e'i
\ that although there was uncertainty
B AS 10 what the public revenue \ ' W"uia
81 be Under tho new tax system, there
q we're threatened demands upon me
q Treasury which were giving some i1n mem
ber,s OF the General Assembly deep con-
4 rern. we showed that extraordinary q p.
nropriatons Of S65, 900 i,pd already been
81 made and that there were pending ntdfs a ~,
nropriation bills Of more than half
II million dollars III amount. making a.
total Of SSH ,,ooo. q We learn that tho bills
which have been introduced are being
4 pushed with svigort by their patrons.
Since that article appeared, the Fir-
: rinia Polytechnic Institute at Blacks
burg has come forward with an appeal
u Tor an apr opriatton Of $4,000 fiat and
r an addition Ito Its annuity Of $1,000.
THAT swells the amount Of the approprs-
I alton bills passed and pending to three.
4 quarters OF million dollars. And 80
again we sound The note of warning.
/ Il must not be understood that
we are opposed per Sc to any of these
objects. They are all worthy, and cs-
pecially SO the, Polytechnic Institute,
which now. has more than six hundred
students, and which IS doing a magnif-
cent work In education and industrial
development. But we urge the General
Assembly to be conservative and to go
slow and to be sure Of Its income before
It makes these extra dlnary ~ appro-
priations. N 1t will not do to impair the
machinery Of State government; It Will
I not do to hurt the States credit. We
must practice the most rigid economy
J, In all directions rather than such
blunder as this should be made
There is something just here for the
I Democratic party to consider most Sc
olrlously. The Democratic party is re-
-. - s.ponsible for the new order of things;
! Responsible for the new Constitution,
responsible for the new system OF taxa
ton, and it will DO held responsible
for all the approximations that arc made
Therefore. if the General Assembly
should by extraordinary appropriations
embarrass the finances Of tho State the.
party would at least invite an opposition
party to spring up. The peoplcaare most
sensitive on this point, and itris no mat
j ter to be trified with.
h In conclusion, lot us repeat that We
do not feel alarmed, that we do not
mean to alarm anybody else. that We
have entire confidence in the integrity
of the State, In It's ability and In its
purpose to discharge all its obligations.
+ and it seems to us absurd for holders OF
4 Virginia bonds to sell them at a sacrl-
Il ace. They are worth as much as ever.
they were, Worth, and they are just as
good intflnsically as a United States
bond. Nor do we think that the State
Is liable to DO embarrassed, There Is,
good reason, on the contrary. to believe
That the revenues will be quite suf-
hcient for all purposes. But out Of
abundant caution we warn the General
Assembly. and We repeat the warning,
and we shall keep on repeating 1t as
long as we feel that 1t Is needed. not
10 commit the, State to large aud eS-
4 traordlnary appropriations until the
money to meet them is fairly In sight.