The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1903-01-13

RAAF LIZ t6hlS
There Will be laid before you by the
Kings Daughters n Sons of his
state a petition asking you to make an
appropriation for a reformatory for
youthful criminals. This petition states
facts which make clear the great bene-
fit to be derived by the state from
such reformatory. There are not. as
a matter of fact, many youthful crimi-
Inais in the jails or the p~enitentiary,
but this is due to the Discrimination OF
the judges to conffne them with older
criminals. These boys are, therefore,
turned loose upon the community 70
renew their depredations and TO grow
up criminals. h work OF reformd-
tories in other states has produced eX-
I-ellent results, and l hope you may see
your way clear to max a beginning in
THE discharge of our duty to the young
criminals, who by your action, may
De saved and made useful men.
STATE INDEBTEDNESS.
The total deficit in the treasury of
the state on the first of December, 1902
amounted S3l9, 419.41. 1t is r~egrettable.
Of course, that this Indebtedness should
nave come about, but the state has
Ilad full value for it. The appropria-
lions made by the last general assem-
oily exceeded the estimated income
md even where the appropriations
i"SIV IdIu II was lOullu ny MOST OF the
Institutions of the state on account of
heir increased attendance and by rea-
on of unforeseen accidents tina they
ould not conduct their business upon
The appropriations made. There is in
Utmost every institution a deficit for
maintenance due not only to increased
attendance. but to the higher prices
paid for all articles consumed. The
-ost of living has increased in every
private family and the state has felt
he effect of the high prices quite aS
much as the individual. Our assess
nents of property were made before
he high prices and at a time When
business and agriculture were much
depressed. Hence the revenue fell far
hort of the amount anticipated by the
last general assembly. In consequence
Of these facts it became certain early
n last year that the appropriations
LIQUID not be met. Upon this being
made to appea | called the council OF
tate in consultation and upon their
tdvice l invited many prominent, re-
EponSible, and wise men from different
sections Of the state to meet with me
md the council of state III my office
or consultation After viewing the
situation from all possible standpoints,
t was finally determined that we
'hOuld borrow for the state the sum
Of two hundred thousand dollars.
Either one Of three courses might have
1een pursued. First, withhold the APP
DrOpriatiOns for the enlargement of
he asyiums and refuse to pay the one
hundred thousand ($100, 000) dollars APP
Ipriated for bringing the public schools
lp to the constitutional requirement Of
our months in each district. Second,
all the legislature together in special
session and let it take the response
lility of repeating the appropriations
1r mnklnU nTnNiCjnn for roonfjnr thnn1
Third, pay the appropriations and issue
3onds at six per cent. for fifty years,
with which to meet the interest on the
Ipublic debt. 1t did not seem to us wise
lin view of our repeated pledges to the
people, to provide for the insane and
tor the education of the children 40
withhold these appropriations. TO call
the Legislature together in extra SEES
;iOn would cost the state more han
he interest On two hundred thousand
dollars, n it was not thought that
he legislature would hesitate to make
provision for meeting the appropria-
lions which it had heretofore made.
We were unwilling to fasten upon the
state a debt running for fifty years II
bearing six per cent. interest. We,
therefore, determined, if possible, to
borrow the two hundred thousand dol
liars until provision could be made by
Your honorable body for meeting the
difficulties which confronted us. Our
treasurer with the advice of the
ell of state and myself went to New
York and secured the loan of two hum
ldred thousand dollars at four and one
half per cent. per annum, interest pay
able se~mi-annually. All the facts We're
Laid before the lender and il is no
small tribute to the business qualifica-
ions of our treasurer and to the credit
lOf the state that Mr.. Lacy was en-
| , L IL ~a,,- &c l~.n De- ;+- ,1.n
we have been enabled to furnish the
necessary money for the public schools
md have nearly completed the prom
Used additions to the MOrganton
Asylum. 1t is impossible to meet the
floating debt of the state together with
Icurrent expenses and the absolutely
necessary permanent improvements
out of our current 1t is. there
fore, apparent to me that it is neces-
lsary to issue bonds with which to pay
loft the present Indebtedness and if
Thought wise to complete the improve
mentS which have already been begun
and those which are found by your
honorable body to be absolutely neceS-
lsary in the immediate future. 1 re-
commend hat authority be given 10
the governor and council of state TO
Tissue nOn-taXable bonds in an amount
not exceeding five hundred thousand
dollars $500, 000), the bonds to run for
fifty years, to bear d rate of interest
TO be named in the act, to be sold for
not less than par. l believe that a
three per cent. bond can be sold at
par. The credit Of he state is and
Ought to be excellent. Her present
condition is that of uneXampled pros
Iperity. The value of her property is
increasing annually at a great rate,
lher debt is small compared with the
debts of other states n she meets
without question Il on time every
recognized and honest obligation. II
the property of the state now held as
investments was sold at the present
market value. it YOU bring almosj
Enough TO pay our entire bonded in
IIebtedness. l have been all my life
much opposed TO issuing bonds, BIZ
TO do so now is not an unmiXed evil
1t IS probably better to care For tbs
necessary permanent Improvements il
Iour present condition BY a bond issue
than 20 burden our r%eviving industrial
land agricultural interests with higl
Taxation with which to supply the
needs of the great works which tn
Ipeople have projected. If we car &C