Macon beacon. [volume] (Macon, Miss.) 1859-1995, 1904-03-19
Our Jackson Letters.

JACKSON. March II. '04
Editor of the Beacon
The question this week has been, shall
we Issue bonds oil raise the levy. We
have been voting large appropriations
and now have to pay the piper. Those
advocating the bond issue claimed that
the proceeds were to pay for the new
capitol and that the future generations
should help pay foi it, and all roundly
abused LongiuO for not issuing bonds as
the legislature had authorized him to
do. think he is to be commended for
this as we have certainly served the in
terest up to this time, even if we haYe
30 issue them now. He managed very
well indeed and built the new capitol
and paid Off S400, 900 Of 6 per cent.
bonds last year and there were otly
about Sl33, 600 Of outstanding warrants
when we met. IT'S true the state re
ceived from extraordinary sources-back
collections 500 600 and proceeds Of
land belonging TO the various colleges
and Chickasaw school land, amount ne
to about $500, 600, but the %appropria-
tons from these two years were abou
$40, 600, 900 nearly twice what we had
appropriated for the two preceding
years. The capitol is paid for and we
had to pay only the S133, 00D ont
standing warrants. There is no doubt.
If we had reduced appropriations the
present tax levy of. six mills would have
been sufficient for all purposes, but az
we either had to issue bonds or increase
the levy-which should it be2 1t is "A
very easy way to get rid Of "A debt, to
issue forty-year bonds This certainly
would leave it to our children and grand
children to pay, but | did not think that
lignt. Had not we collected from ex-
traordinary sources enough to pay for
the capitol | would have favored the
bond issue. but ] could not favor issuing
bonds to pay current expenses. Besides,
we owe about $500, 900 that went into
the capitoi as expenses for these years
That we cannot pay. owing it to the
Chickasaw school fund and the various
colleges, and | think orr children will
have a chance to help us pay that, so |
favored raising the levy to seven mills,
an increase one mill. The chairman of
the ways and means committee said this
would net the state a revenue Of about
IS, 600, 900, which would be ample.
This would also let The people know the
the amount Of money appropriated and
they could hold their representatives to
account for extravaganza,
Every member from a county where a
college or an institution was located was
in favor of a bond issue, because he
knew that If we came back here two
years from now and we owed nothing,
and the tax had not been increased. he
would be more likely to get large APP
preparations again. The first PROPOSE
ton was to issue 500 600 forty-year A.
per cent bonds. We voted this down,
but they finally passed a bill authoriz
ing the issuance of $500, 900 10-303 1'2
per cent bonds. This passed the senate
also and will be signed by the governor.
| voted no on this question as | did not
want a surplus. Old Ben Wade said
lit was as impossible to have an ice
house in hell as a full treasury and no
body stealing out of it, We made a
good crop last year and got a fine price
for our cotton. and are as able to pay
this debt now as we ever will be.
The assessed value of personal property
has increased very much in the last four
or five years, especially in South Miss
issippi, | was surprised to find that
the assessed value of the delta land had
not increased materially. Our prairie
counties have about held theis own, and
while we are appropriating nearly twice
as much money as we did mos and 80,
still with a tax levy Of eve mills we
would realize enough to meet expenses,
THURsDAY-Since writing the above
the chairman of the Ways and Means
committee has made his final report and
sho wed that u appropriations will
amount to nearly Sc 900, 900, the largest
in the history of the State for one year.
He recommended "A levy of 6 IL mills.
an increase of u half mill and said this
revenue, with the proceeds of the $780,
900 bonds and the sale of the state pro
perty in Jackson, would meet this ap-
Precipitation. advocated this and urged
It's adoption, but the average member of
the legislature is very much opposed to
raising the levy, so they adopted an
ameniment for Il six mill levy, just as
il ia now and authorized tha Uovarno-